Comments on: King County Appreciation "Middling"

By: Anonymous

Anonymous — Thu, 02 Feb 2006 19:25:06 +0000

http://www5.metrokc.gov/reports/property_report.asp
Your first stop in researching properties in Seattle and King County. Also provides links to tax liens, records, etc…

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By: Anonymous

Anonymous — Thu, 02 Feb 2006 00:56:52 +0000

Biliruben-

Thanks for the tip re ZIP.

Moral of the story: use their great resources but don’t make the mistake of telling them you’re using another RE agent!

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By: biliruben

biliruben — Wed, 01 Feb 2006 23:25:32 +0000

I have mixed feelings about ZIP.

A couple years ago, I was using their search engine (I liked the ability to search on yard size), but foolishly responded to an email and told them I already was working with another realtor.

They tossed me off their system.

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By: Anonymous

Anonymous — Wed, 01 Feb 2006 21:35:20 +0000

Zip Realty ROCKS!!

Anyone who is remotely considering buying or selling RE at this time NEEDS to sign up and take a look at their site.

I am sitting on the sidelines, ready to buy when it seems appropriate (ie. when prices have fallen A LOT).

But for sure when I am ready to buy, I’m going to contact the folks at Zip.

Any RE organization that is freely sharing pertinent info right now, when most are doing whatever they can to hide the facts, REALLY DESERVES the public’s thanks and support.

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By: biliruben

biliruben — Wed, 01 Feb 2006 19:48:02 +0000

Using Zip, I see a sweatin’ flipper at:
15755 DAYTON

The flipper bought this fugly rat-trap in the “great area” a few blocks off Aurora (great if you want to walk to strip clubs and Casino’s I guess) for 278K, threw more time and money than he should have at it (new roof, kitchen bath), and listed it for 360K 42 days ago. Then 355K… then 350K… then 340K .. now 335K, and now Brent “must sell!”.

Looking at the details, yes he does.

80/20 2/28 option arm.

Given a conservative 10K in transaction fees, 2K/mo for mortgage and bills, and already two liens on the property; one for taxes and one for wastewater, he’s in serious trouble. He may get out dead-even, but I doubt it.

His first, and my guess only, foray into real estate looks like a disaster.

This is the first of many more investor horror stories to come, is my guess.

Reply – Looking at the details, yes he does.80\/20 2\/28 option arm. Given a conservative 10K in transaction fees, 2K\/mo for mortgage and bills, and already two liens on the property; one for taxes and one for wastewater, he\'s in serious trouble. He may get out dead-even, but I doubt it.His first, and my guess only, foray into real estate looks like a disaster.This is the first of many more investor horror stories to come, is my guess.',''); return false;">Quote

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By: inseattle

inseattle — Wed, 01 Feb 2006 03:05:25 +0000

Also, check the Zip Realty “Price Reduced” category for listings that have been reduced in any given neighborhood.

They also tell you how many days the property has been on the market.

That info is not generally available on the other MLS lists.

http://www.ziprealty.com

Reply – They also tell you how many days the property has been on the market.That info is not generally available on the other MLS lists.www.ziprealty.com',''); return false;">Quote

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By: inseattle

inseattle — Tue, 31 Jan 2006 22:10:28 +0000

Check the “Bubble Markets Inventory Tracking ” link.

The numbers are out for % of “Price Reduced” listings in Seattle.

Our number for Seattle is !!!! 17% !!! of homes on the market have reduced their prices (so far!!!).

Reply – The numbers are out for % of \"Price Reduced\" listings in Seattle.Our number for Seattle is !!!! 17% !!! of homes on the market have reduced their prices (so far!!!).',''); return false;">Quote

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By: Anonymous

Anonymous — Tue, 31 Jan 2006 04:33:11 +0000

These “yearly” statistics need to be taken with a grain of salt. They can give a wrong impression about what has actually happened on a month to month basis.

15% appreciation for the year is an average for the WHOLE YEAR ’05.

It tells you notthing about what happened in the months of Oct, Nov. and Dec. ’05.

Most of the US cities that had “15% year appreciation” in ’05 also had stalling and then actual falling off of the numbers for the last quarter of ’05.

It is the monthly numbers that give an acccurate assessment of the real situation.

Reply – 15% appreciation for the year is an average for the WHOLE YEAR \'05.It tells you notthing about what happened in the months of Oct, Nov. and Dec. \'05.Most of the US cities that had \"15% year appreciation\" in \'05 also had stalling and then actual falling off of the numbers for the last quarter of \'05.It is the monthly numbers that give an acccurate assessment of the real situation.',''); return false;">Quote

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By: ob

ob — Tue, 31 Jan 2006 00:09:54 +0000

How about this cnn story placing king county in second place for a very dubious honor…
http://money.cnn.com/2006/01/30/pf/real_wage_growth_slow/index.htm
That isn’t going to be good for housing either.

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