We review association documents and resale certificates for clients on a regular basis. Every week we post stats and something fun or interesting.
This week it is Ballard Place with 173 units (172 residential and 1 commercial) in the Ballard part of Seattle.
- Average Sale Price – ~$610 per sq.ft. (based on 4 sales during the last 6 months)
- Currently For Sale:
- Unit # 501 (listed at $499,950 or ~$636 / sq.ft.)
- View All Units Available at Ballard Place On Our Site
- Average Monthly Assessment – $0.46 per sq.ft. (so if your condo is 1,000 sq.ft you’d be paying ~$460/month)
- Move-in Fee – yes, $300 (residents without furniture are exempt from the Move-In/Move-Out Fee)
- Pets – permitted with a limit of 2 per unit
- Rental cap – no (seems to have been a topic of discussion)
- EQ insurance – yes, to full value
- Reserve funding – 77% (at least 70% is generally recommended)
- Risk of special assessment – none evident
Fun facts – lots and lots of committees and social community engagement happening at Ballard Place. Regular resident gatherings and community BBQs are organized by a Social Committee, rules and policies are administered by a Rules Committee, a Finance Committee keeps an eye on association funds (Ballard Place seems to have been under budget and on track during the last several years), and association staff handles most of the day-to-day operational needs.
As is the case with most urban settings, security is a big topic at Ballard Place. There seem to be constant additions, improvements, and repairs to existing systems and enforcement of current policies that ask residents to make sure the garage door closes before they drive away, moves are scheduled, and exterior doors are attended to.
Ok, we promised something fun. Here it is. We rarely see these worded this way. It must have been all the socializing at Ballard Place that prompted the association to pass a rule which bans “…horseplay; throwing objects; using fireworks; and behaving inappropriately, such as nudity or sexual activity, in all common areas…” So, if you plan on roughhousing, throwing things, or engaging in naked sexual activities, the association requests that you please keep those out of the common areas.
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And of course a fancy disclosure has to follow because attorneys tell us it is a good idea – all information contained herein is based on third party records, is not guaranteed, and is subject to change. We simply review, tell you what we read in someone else’s docs, and hope whatever they have is / was correct at that time.