Monthly Archives: May 2012

The home owners dues for living in Seattle’s Broadmoor neighborhood are much cheaper than what’s believed.

Over the course of the last 2 -3 months I have had multiple conversations with clients and non clients regarding the home owners dues for living in Broadmoor. What I’ve taken away from these conversations is that there’s a gross misconception out there amongst non Broadmoor residents regarding exactly how much per month residents pay in home owners dues. Many of the individuals who I spoke with thought that the dues were anywhere from $500 – $1,000 a month. That’s right, there are people out there who think the HOD’s are $1,000 a month. For residents of the neighborhood who read this, I would advise you to inform your friends what the acctual HOD’s are per month, as there are people who would considering moving into the neighborhood if it weren’t for the misconception.

Below is a breakdown of how the dues are assessed:

Home owners dues are determined based on lot size.

A single lot in Broadmoor is roughly 7,000 Sq Ft on average. *The exact square footage for a lot can vary slightly depending on when it was plotted.*

The dues per month for a single lot are $133.00

A lot and a half would be $199.50

A double lot $266.00

If your lot size was 1.1 or 1.2 or 1.3 or 1.4, etc, the size of a single lot, your home owners dues would reflect that.

The dues cover: 1. Wages paid to security staff. 2. Landscapping. 3. Annual parties.

Sales to Date in Seattle’s Broadmoor Neighborhood

Almost five months have come and gone in 2012, and while home sales look to be on the rise in many neighborhoods, it appears that sales in Broadmoor have been extremely stagnant year to date. As of today there have been only 4 closed sales in the neighborhood, with only one sale currently Pending.

Closed Sales

1651 Windermere Drive E. 5 bed. 3.25 Bath. 3,070 Sq Ft. Sold Price: $800,500

3418 E. St Andrews Way. 4 Bed. 3.5 Bath. 3,930 Sq Ft. Sold Price: $1,350,000

1818 Broadmoor Drive E. 5 Bed. 3.50 Bath. 5,460 Sq Ft. Sold Price: 2,070,000

2128 Waverly Way E. 6 Bed 5.25 Bath. 6,880 Sq Ft. Sold Price: $2,150,000

Pending

1570 Parkside Drive E. 3 Bed. 2 Bath. 2,340 Sq Ft. List Price: $849,000

 

When studying the statistics of other neighborhoods, such as Washington Park, Madison Park, Denny Blaine, and Capitol Hill, it’s apparent that not many homes around the $2 million mark and above are moving. Given that 11 of the 14 homes currently listed in Broadmoor are right around or above this mark, it could be said that Broadmoor is fairing about as well as these other neighborhoods. In light of this, I think it will be important to see what happens in regards to the inventory below $2 million over the course of the summer. As of late I’ve seen an uptick in sales of homes priced around $1.5 million in the neighborhoods I’ve mentioned above. With the increase in activity the summer brings, I would expect that the lower priced homes in the neighborhood should move the closer they get to this number. It should be an interesting summer sales season to follow, hopefully the second half of the years proves to be more fruitful than the first half.

Blumes Broadmoor Home Gains Presidential Spot Light

After hosting President Obama and around 75 additional guests in Madrona yesterday for the Presidential Brunch, Ann and Bruce Blume’s home has been glistening in the National spot light. Locals were giddy with excitement at the possibility of an Obama spotting, traffic was a little slow going in and out of the neighborhood and secret service lined the streets, and patrolled the area surrounding the Blume’s residence. But the press has also brought to our attention that the Blumes are not only getting major publicity for the Madrona area for hosting the President, but also because they are currently selling one of their properties in Broadmoor. They’re selling their 1941 Colonial home for $2,950,000 and it’s truly noted as one of the best homes in the neighborhood. For more information on the President’s visit to Seattle, or the Blume’s listing, visit the Madrona Seattle blog.