Nothing shocking going on here, just more confirmation of local neighborhoods still on the rise. Specifically, this story is about Thurston County.
South Sound’s booming housing market and recovering economy are contributing to record gains in Thurston County property values.For the second year in a row, Thurston County set a record for gains in residential property tax assessments.
This year’s overall 12 percent gain beat last year’s 8 percent gain, which was a record dating back to at least 1999, according to Dennis Pulsipher, the county’s chief deputy assessor. Such gains are reflected in 108,000 assessment notices scheduled to be mailed Wednesday to property tax payers.
Those lucky tax payers!
(Jim Szymanski, The Olympian, 10.18.2005)
Tim, bad news. No posters, no bubble. Time to close the shop.
Tim, bad news. No posters, no bubble. Time to close the shop.
Well, really…have the investors ignored the Puget Sound area? I think not. My research indicates speculation-based pricing in Portland, Vancouver, and Seattle. People shouldn’t bank on their paper gains too quickly. They need to do more research before smugly concluding nothing is possibly unstable with home vlaues.
And just because this blog doesn’t have a huge following doesn’t nullify what’s happened in housing. Perhaps Tim is ahead of the curve on popular opinion, good for him!
I think we need a thread to highlight obvious local flip attempts.
A recent example near me:
Purchased in June for 184K:
http://www5.metrokc.gov/reports/property_report.asp?PIN=3782100055
Trying to flip for 297,200.
http://www.mls4owners.com/LNdetails.cfm?&formCOU=King&formPTYP=RESI&Return=P5.cfm&sr=121&LN=25154444&dispCIT=Shoreline&framed=no”
Now that’s gall.
It looks like I can include links. Anyway, you can look it up yourself:
20346 21st Ave NE
Now that’s gall.
Just the tip of the iceberg, in terms of what investors try to do. Someone near me bought a place last year for $885K, up for sale in August for $1.07M, since reduced to $1.05M. No improvements; a flipper got scared and decided to sell–fast.