Northgate West

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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 Northgate West. We’ve noticed quite an uptick in values and sale prices along the planned Sound Transit routes, especially in the Northgate area of Seattle. Northgate West has 72 residential units.

  • Average Sale Price – ~$369 per sq.ft. (based on just one sale during the last 6 months)
  • Currently For Sale:
  • Average Monthly Assessment – $0.38 per sq.ft. (so if your condo is 1,000 sq.ft you’d be paying ~$380/month)
  • Move-in Fee – yes, $300
  • Pets – allowed (subject to “typical” guidelines and restrictions)
  • Rental cap – no
  • EQ insurance – yes, to full value
  • Reserve funding – 41% (at least 70% is generally recommended)
  • Risk of special assessment – none evident

Fun facts – ok, Northgate West feels to be a very laid back well operating community. As is the case with any association, one of the main goals should be to make sure everyone gets along while promoting the quality of life and keeping up with the maintenance needs of the physical assets. We were pleasantly suprised to see that Northgate West picks the carrot over the stick and starts its House Rules with:

“Welcome to Northgate West. We hope you will find these house rules helpful. It is provided to you to make your living experience here more enjoyable. None of us really likes to be governed by rules. Yet when we live in a close community and share areas and facilities, rules are necessary. We can keep rules to a minimum if each resident will carefully consider how his or her actions will impact other residents. We want OUR building to be clean and look attractive; we want to keep maintenance costs down, resale value up, and to have cordial relationships with each other. So, please be considerate of your neighbors and acquaint yourself with these House Rules.”

Let’s say there is something you don’t like. In our experience, most associations respond with “these are our rules, here is the enforcement policy, and the fine for violating is so many dollars after (hopefully) we send you a warning informing you of the violation. We, the Board, have the authority to adopt the rules and you, the owner, have to ensure you are familiar and comply with them.” Northgate West takes more of a collaborative approach. The schedule of all Board meetings is published on a bulletin board (along with Board member contact info) and a section of the current rules clearly states (yes, in bold capital letters) “IF HOMEOWNERS WISH TO CHANGE ANY RULES OR BYLAWS, THEY MAY SUBMIT A PETITION TO THE BOARD”

Want us to help you review a resale cert?
Have an interesting fact to share about your association?
Need help buying or selling? We are here for you!

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.