Not one but two of the flagship townhomes, touting skyline views and curb appeal on High Point’s main boulevard are for re-sale right now.
I wonder if it’s the subsidized (read: lender bought down) adjustable rates resetting, the growing homeowner’s dues, the fact that the lovely black security jeep will soon be leaving, or some other unspeakable motive which has prompted owners to offer buyers the “rare” opportunity of buying a Saltaire townhome in West Seattle’s newest master-planned community??
That the owners are willing to sell for the same price they paid, or even slightly less means that they are almost certainly losing money on the deal after your figure all the costs associated with buying the house in the first place and then selling it. A lot of people might be angry that I am posting this information for the home-buying public to see, but it would be no different than someone looking this up on the MLS or through home-buying portals like Redfin. Please keep reading High Pointers; I actually have one post for each of the next few days!
May 16, 2008 at 9:59 am
People in America do move from time-to-time, right? Every time you see a leaf blowing in the wind does not mean the sky is falling.
May 20, 2008 at 7:39 am
The current economic climate might have something to do with all of the “for sale” signs or it could be that people are not happy with how the neighborhood is shaping up…….I would fall into the latter category.
May 20, 2008 at 1:45 pm
Jim: Why are you not happy with how it’s shaping up?
May 24, 2008 at 3:17 pm
one is unoccupied, bankruptcy….the other is relocating for work in Pierce Co.
May 27, 2008 at 3:10 pm
Either way, if you have the funds to put money down, the saltaire townhomes are really nice compared to whats out there for that price. I really think its the economy having some effect, a lot of people got into some high interest loans, or even subprime and its having its effect.
May 29, 2008 at 2:13 pm
High Point Security is not eliminating a vehicle. Impact Property Management employs security company and is adding the use of a bicycle to the use of a vehicle.
May 29, 2008 at 2:22 pm
There are a few units (market rate) in Phase I that are for sale (Lyle Homes and Saltaire Homes) and a few re-sale units for sale by private owners. Two owners have purchased additional homes at High Point as their family needs grew and two owners have been relocated to different geographic areas.
Regarding the monthly assessments:
First HOA – the Housing Authority subsidized the Homeowner Association monthly assessments in 2007. The subsidy ended with the new year. The monthly assessments did not increase, however, with the subsidy ending the effect out of the owners pocket increased. The budget was re-organized in 2008 by breaking down the necessary assessments for attached homes by block. This was done to better reflect, thus fund the collected, the needs of individual homes by block since their needs are different based on builder, style, etc.
OSA – the Housing Authority subsidized the Open Space Associaiton monthly assessments in 2007. The assessments for Phase I did increase by a small amount and the Housing Authority is subsidizing those assessments so that there was no net “out of pocket’ change for the owners.
If you are a homeowner please access the web site for further budget and financial informatiion.
thank you,
Jeanette Fournier’, CMCA
Property Manager
August 7, 2008 at 10:56 am
I woulnd’t interpret units for sale as a sign of the neighborhood being undesirable. What we have in highpoint is everyone bought in at the same time period which happens to be when almost anyone could get credit, even if they couldn’t afford the payments. So it makes sense that a lot of people are going to have to sell their houses or lose them to foreclosure because they can’t afford the payments.
In the typical neighborhood, many homes were bought prior to ridiculously easy financing. So most homes are “safe.” But since every homeowner in highpoint is a new homeowner, we’re going to see plenty of foreclosures. This process is happening in almost every development built in the last 36 months. Not unique to Highpoint.