A Word About Luxury Condos in Bellevue

If you want to buy a luxury condo in this incredibly competitive market, don't be afraid to offer an extra $5,000 or $10,000-- it won't impact your monthly payment as much as you think.

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Today I’m coming to you live from the kitchen of a luxury condo in the heart of Bellevue to talk a little bit about these specific properties.

The average luxury condo in this area is going for $767 per square foot. The condo I’m standing in right now is 1,641 square feet and it’s priced at $1.6 million.

I frequently get questions from buyers asking if they should pay an extra $10,000 if they’re in a multiple offer situation. If you offer an extra $5,000, you'll pay $10 to $20 more per square foot. Make sure you break down those numbers along with whatever your interest rate may be to determine what your payment difference is.

Right now we’re in a seller’s market. Most of the properties we’re listing are lasting only about three to five days on the market, and we’re reviewing a lot of multiple offers. Make sure that you effectively understand the difference of payment so you’re not stuck paying an extra $5,000 or $10,000.

If you have any questions about this topic or are interested in buying a luxury condo, please don’t hesitate to give us a call. We’d be happy to help you!