Element Townhomes Review

Luxury Redmond Townhouses

Are you looking to live in the Redmond or Kirkland area with a short commute to Microsoft and all parts of the Eastside?  There is a modern townhouse complex called Element built by Intracorp, a large national developer, on the North side of Redmond Way, coming down toward Redmond from Kirkland’s Rose Hill.Exterior & Interior Finishes
The exterior finishes consist of multicolored metal and hardi-panel with modern pitched roofs.  Interior finishes are impressive- with 4-5 inch wide hardwood floors, designer tile and hard surfaces, and modern chrome bath and kitchen plumbing fixtures.

Flexible Floor Plans
I found the 5-6 available floor plans to be similar- ranging from 1300-1600 square feet.  Living, dining, half bath, and kitchen are on the main level with the master bedroom and 2nd bedroom above.  Above the master bedroom is a loft with open air down into the master bedroom.  You can close off the loft with sheetrock before or after purchase- or use other more creative privacy enclosures.  The close-off creates a psuedo third bedroom sans the closet.

Price Points
The biggest difference with the larger units is the width and you can feel the difference.  The larger unitsretail for $474,900 and the smaller units begin at $379,900 and up as you grow larger on the square footage.

Financing Program
Right now, with 10% down and good credit- they are offering 30 year fixed mortgages at a lifetime rate under fixed at under 5%- with year one in the high 2% range and year two in the high 3% range.  After two years- the rate can never ratchet up beyond the base rate in the high 4% range.  I felt that was a compelling offer- as the lifetime rate is very low and buyers looking to conserve in the next two years as we weather this economic downturn would be getting a great deal on a monthly basis.

Sales Progress
As I walked out- the sale professional asked if I worked at Microsoft.  I politely told her I did not, but that my wife does.  She said that most of the buyers work at Microsoft and are looking for quality living with a short commute.  They have sold 41 units to date and average 1-2 sales per week, which is solid in this current environment.  The total complex will have 90+ units when fully constructed- but the units are being released in phases.

If you are looking to live near Microsoft- contact Incolo or myself- Davis Hsu (206) 465-9309 for a tour of Element and other comparable offerings. (We are licensed real estate agents in the state of Washington.)