Thirteen months ago we wrote about the new house that went up on E. Columbia and hit the market for $1,000,000. That seemed like a pretty steep sum to us even for the bubble economy. The house sat on the market for eighteen months until the sign came down sometime last week.
And according to a small piece of paper attached to the house’s massive garage door, the loan on the house (held by WAMU) has gone into default and the property will be sold at auction on January 2nd.
But I suppose the developer’s and the bank’s loss could be your gain if you’ve got a growing family and need 5,000 square feet of space to spread out in. The auction will be held at 10:00am on 1/2/09, at the south entrance to Factoria Mall.
The outstanding loan balance is $663,668.93 according to King County Records. We’ll report back after the auction and let you know what it went for.
The new Central District News world headquarters looks quite splendid [space for appropriate emoticon if a) I knew how to make one and b) I wanted to pay a royalty to that Russian guy]
My mom was the realtor who sold the place to the developer who tore up the old house and built this monstrosity. She was warning him that it was not appropriate for the neighborhood but he didn’t listen.
The neighbors are and always working on their junkers (and an occasional Chrysler 300 ghettomobile), so any prospective buyers would be immediately turned off by the sight of cars on blocks or guys under the engine changing oil. They are friendly, my wife BSed with them a while ago about Obama election, but I wouldn’t want to live next to them.
It’d be interesting to know who buys it, if they do.
I’d like to think that the “massive garage door” on the street and other “design features” displayed in the picture had something to do with the house’s failure to sell
It took the Russians a while to sell the sister house on Spring. didn’t it go for $800 K? Oh the days!
that the auction is going to be held outside the Factoria mall entrance. Dontcha think?
The same Russian guy built one like it for a bargin $699,000 on 21st ave S. As of the end of the summer they had moved in it as it had not sold. The same guy owns empty property west of the intersection of 20th Ave. S and S. Judkins. He claims it can be platted into six home sites (the property is on a 40 % + slope) and wants a million for this great city mountain view site. While it has been up for sale he has allowed contractors to dump crap soil, construction debriss, etc. to try in fill the slope. DPD has done nothing to date to respond to the neighbors complaints. It’s still for sale. He bought from the state as surplus I-90 land the city passed up.
I don’t remember the purchase price exactly, but it went to two really nice couples who have been great neighbors!
1) those guys working on the cars are friendly, so why on earth wouldn’t you want to live next to them? it’s not like they’re banging on the car at 2am. They’re good neighbors and the house and yard are very well-maintained. sounds like some thinly-veiled racism or classism or both, to me. get over it.
2) that house is a boil, a pox, a scar. it’s uglier than sin, there’s NO backyard to speak of…what a waste. the developer is an ass, clearly.
Thank you for being so judgmental, erind. But you covered it with an accusation of racism, with an extra dollup of “classism”, so that makes everything A-OK, right?
Let’s see…. You support the status quo, which feeds into the “containment zone” mentality.
You hint at the whiny “south-of-the-ship-canal” sub-thread that thrives here.
Really, quite well played! You get extra points for ignoring the idea that a person – of whatever race – might not want to be plopping down a half a million or so just to deal with some jerk neighbors – of whatever race – and their junk cars. (Which, after all, is just SO Burien – but houses in Burien go for at least half of what houses in the CD go for – but that’s not important right now).
Good for you! You get the PC gold star! Keep up with your self-righteous bullying, and soon it will be just you making pompous comments on this site! Who needs to actually discuss issues, right? That would take away all the fun of being a victim!
The people who own the property next door to the McMansion may be friendly and the yard is very well maintained, but I agree that folks are not going to want to pay half a million to think to live directly next door to them.
First, working on the cars on city streets is illegal. It has been reported to the city and the police have been out to talk to them before. The summer before last the men that hang out at the house were the reason a prostitute lived in her van on that corner for months and months. They were her “Johns” and they kept her busy and rich….she could routinely be seen high as a kite.
I also strongly suspect that there is some drug dealing happening at the garage. At certain times of day there is a lot of coming and goings…..an hour later everybody is gone. I have witnessed people doing drugs on the street and deals going down on that corner. Some of the same people that hang out at the house’s garage can also be seen hanging out at the mini mart on 21st and Union.
On a positive note, the house is well maintained and they have great Christmas decorations up….and put up a good Halloween display too.