Tag Archives: Madison Park

With Most New listing Selling Fast In Seattle’s Broadmoor Nieghborhood Inventory Is Scarce!

I’m sure that most Broadmoor residents are aware of the fact that sales in the neighborhood in 2012 were just dismal. There were 10 sales recorded by the NWMLS. With an Average Days on Market of 193 days. Only 1 of the 10 homes sold for over $2,000,000. The average sales price for 2012 was $1,527,500. The average price per Sq. Ft. was $365.93.

Fast forward to the present, July 3, 2013, things have drastically improved. At the present time there have been 14 recorded sales by the NWMLS in the neighborhood, with 1 home sale currently Pending. Six homes have sold for over $2,000,000, with 4 of these 6 sales being well over $2,000,000. The Average Days on Market stands at 138 days. This number is a little deceptive though as 8 of the homes sold this year sold in less than 20 days, and the home which is currently pending will fall into this category as well. The average sales price to date is $2,168,750. The average price per sq. ft. is currently $413,10.

A quick look at the current inventory shows that there are only 5 homes for sale, all of which are listed for over $2,500,000. This piece of data suggests that it would be a very opportune time for sellers in the neighborhood with homes believed to be valued at less than $2,500,000 to sell their home, there’s NO completion out there.

Homes are moving again in Broadmoor

The Real Estate market in Broadmoor is finally showing signs of life after a summer that could be described as nothing short of dismal. The summer season is generally the time of year when the real estate market really takes off, and it did in many neighborhoods, just not Broadmoor. There were only two closed sales transactions in Broadmoor recorded by the MLS this summer. There were two off market sales during this time frame as well, which makes for a grand total of 4 sales transactions. Not a good number, fortunately the Fall and Winter have brought good tidings to the neighborhood. Since the start of the Fall 6 homes have sold in the neighborhood and there are currently 3 homes Pending. With the current inventory of homes for sales in the neighborhood sitting at 8 it appears that home sales are on the mend. Sales in the neighborhood for some time have lagged behind some of the other local markets, but the recent flurry of sales are a sure indicator that this trend will not continue.

What’s all that work that’s been going on at the front gate of Broadmoor?

Some of you Madison Park, Washington Park, and Broadmoor residents might be wondering what’s all that work that’s been going on at the front gate of the Broadmoor neighborhood for the past 3 weeks? Well, it’s nothing more than some much needed tuckpointing and brick replacement. For those that don’t know what tuckpointing is, here’s an explanation: in building construction, technique of finishing masonry joints with a fine, pointed ridge of mortar, for decorative purposes, instead of the usual slightly convex finish in ordinary masonwork. The term is sometimes used for pointing (q.v.) as in masonry repair.

The project is set to finish next week.

Broadmoor Home Owners Family Potluck

This Sunday, September 30th, from 4:30 – 6:30 the annual Broadmoor Home Owners Family Potluck will be taking place. For those attending it is requested that you bring a dish. Those with last names Beginning with an:

A – F are being asked to bring a SALAD DISH.

G – M are being asked to bring an ENTREE DISH.

N – Z are being asked to bring an APPETIZER DISH.

Something is clearly missing form this list here………………… Dessert…. Anyone feeling like taking on another duty?

The potluck is taking place by the front gate at the flag green. Hopefully the turnout is good, as these annual events are a great opportunity to get to know your neighbors if you don’t already.

 

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.

Christmas Ships at Madison Park Beach

Argosy CruisesThe Seattle Christmas Ships will be in Madison Park this weekend, Saturday, December 17th, from 4:55- 5:15 pm.  Be sure to leave Broadmoor in time so you can enjoy the bonfire on the beach.  It will be dark and cold so bring a flashlight and some warm clothes.