Comments on: Government-Funded "Affordability" http://seattlebubble.com/blog/2006/03/01/government-funded-affordability/ local real estate news, statistics, and commentary without the sales spin. Sat, 20 Mar 2010 22:52:15 -0700 http://wordpress.org/?v=2.9.2 hourly 1 By: Anonymoushttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-509 Anonymous Sat, 04 Mar 2006 04:14:28 +0000 http://seattlebubble.com/blog/?p=160#comment-509 2. They know what's coming and they're frantic to finish up before buyers start bailing - just as we're seeing elsewhere in the country.<br/>++++++++++++++++++++++++++++++++<br/>Once a project breaks the ground, it only stops if funding is withdrawn.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('509','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('509','Anonymous','2. They know what\'s coming and they\'re frantic to finish up before buyers start bailing - just as we\'re seeing elsewhere in the country.<br\/>++++++++++++++++++++++++++++++++<br\/>Once a project breaks the ground, it only stops if funding is withdrawn.',''); return false;">Quote</a></div> 2. They know what’s coming and they’re frantic to finish up before buyers start bailing – just as we’re seeing elsewhere in the country.
++++++++++++++++++++++++++++++++
Once a project breaks the ground, it only stops if funding is withdrawn.
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]]> By: Anonymoushttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-508 Anonymous Sat, 04 Mar 2006 04:12:44 +0000 http://seattlebubble.com/blog/?p=160#comment-508 Anonymous said... <br/>More of this will happen soon:<br/><br/>The young woman, who suffered from chronic back pain and was reportedly under significant financial pressure after recently buying a condominium with her husband, vanished Jan. 28 after leaving home to have dinner with friends. She never showed up, and the next day, her husband reported her <br/>+++++++++++++++++++++++++++++++<br/><br/>This is a complete nonsense.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('508','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('508','Anonymous','Anonymous said... <br\/>More of this will happen soon:<br\/><br\/>The young woman, who suffered from chronic back pain and was reportedly under significant financial pressure after recently buying a condominium with her husband, vanished Jan. 28 after leaving home to have dinner with friends. She never showed up, and the next day, her husband reported her <br\/>+++++++++++++++++++++++++++++++<br\/><br\/>This is a complete nonsense.',''); return false;">Quote</a></div> Anonymous said…
More of this will happen soon:

The young woman, who suffered from chronic back pain and was reportedly under significant financial pressure after recently buying a condominium with her husband, vanished Jan. 28 after leaving home to have dinner with friends. She never showed up, and the next day, her husband reported her
+++++++++++++++++++++++++++++++

This is a complete nonsense.

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]]> By: Anonymoushttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-507 Anonymous Fri, 03 Mar 2006 03:49:22 +0000 http://seattlebubble.com/blog/?p=160#comment-507 <b>Things still look brisk around my neighborhood (98117).</b><br/><br/>98117 currently has one of the highest % of current listing with price reduced. 18/51 = 35%.<br/><br/>Seattle as a whole has around 20% of current listings reduced.<br/><br/>98117 was pretty run down a few years ago and from looking at the listings, there are alot of rehab/flips that were put in the market with "optimistic" prices.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('507','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('507','Anonymous','<b>Things still look brisk around my neighborhood (98117).<\/b><br\/><br\/>98117 currently has one of the highest % of current listing with price reduced. 18\/51 = 35%.<br\/><br\/>Seattle as a whole has around 20% of current listings reduced.<br\/><br\/>98117 was pretty run down a few years ago and from looking at the listings, there are alot of rehab\/flips that were put in the market with \"optimistic\" prices.',''); return false;">Quote</a></div> Things still look brisk around my neighborhood (98117).

98117 currently has one of the highest % of current listing with price reduced. 18/51 = 35%.

Seattle as a whole has around 20% of current listings reduced.

98117 was pretty run down a few years ago and from looking at the listings, there are alot of rehab/flips that were put in the market with “optimistic” prices.

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]]> By: Comrade Chairman Greenspanhttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-506 Comrade Chairman Greenspan Thu, 02 Mar 2006 19:33:44 +0000 http://seattlebubble.com/blog/?p=160#comment-506 Was waiting for the bus at 6:30 last night and noticed that people were still working on one of the new condo buildings going up on Denny, using a floodlight mounted on the crane. Now, are they doing this because:<br/><br/>1. The condo market is still so hot that they just can't build fast enough to feed the frenzied demand.<br/><br/>2. They know what's coming and they're frantic to finish up before buyers start bailing - just as we're seeing elsewhere in the country.<br/><br/>I also saw more than one finished condo building plastered with "Available" signs, and rows and rows of dark windows. Also saw something I haven't seen before: RENTAL signs out in front of some of these buildings.<br/><br/>Meanwhile, RE bulls continue the same screeching about the "tight housing supply" that we've been hearing for two years.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('506','Comrade Chairman Greenspan',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('506','Comrade Chairman Greenspan','Was waiting for the bus at 6:30 last night and noticed that people were still working on one of the new condo buildings going up on Denny, using a floodlight mounted on the crane. Now, are they doing this because:<br\/><br\/>1. The condo market is still so hot that they just can\'t build fast enough to feed the frenzied demand.<br\/><br\/>2. They know what\'s coming and they\'re frantic to finish up before buyers start bailing - just as we\'re seeing elsewhere in the country.<br\/><br\/>I also saw more than one finished condo building plastered with \"Available\" signs, and rows and rows of dark windows. Also saw something I haven\'t seen before: RENTAL signs out in front of some of these buildings.<br\/><br\/>Meanwhile, RE bulls continue the same screeching about the \"tight housing supply\" that we\'ve been hearing for two years.',''); return false;">Quote</a></div> Was waiting for the bus at 6:30 last night and noticed that people were still working on one of the new condo buildings going up on Denny, using a floodlight mounted on the crane. Now, are they doing this because:

1. The condo market is still so hot that they just can’t build fast enough to feed the frenzied demand.

2. They know what’s coming and they’re frantic to finish up before buyers start bailing – just as we’re seeing elsewhere in the country.

I also saw more than one finished condo building plastered with “Available” signs, and rows and rows of dark windows. Also saw something I haven’t seen before: RENTAL signs out in front of some of these buildings.

Meanwhile, RE bulls continue the same screeching about the “tight housing supply” that we’ve been hearing for two years.

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]]> By: Anonymoushttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-505 Anonymous Thu, 02 Mar 2006 18:59:34 +0000 http://seattlebubble.com/blog/?p=160#comment-505 Lets see, to get a house I can either work less, or marry a woman that doesn't work and also work a little less. <br/><br/>Silly me. I thought the way I was going to buy a place was by earning more or marrying someone that has a strong income.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('505','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('505','Anonymous','Lets see, to get a house I can either work less, or marry a woman that doesn\'t work and also work a little less. <br\/><br\/>Silly me. I thought the way I was going to buy a place was by earning more or marrying someone that has a strong income.',''); return false;">Quote</a></div> Lets see, to get a house I can either work less, or marry a woman that doesn’t work and also work a little less.

Silly me. I thought the way I was going to buy a place was by earning more or marrying someone that has a strong income.

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]]> By: Anonymoushttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-504 Anonymous Thu, 02 Mar 2006 17:56:34 +0000 http://seattlebubble.com/blog/?p=160#comment-504 Things still look brisk around my neighborhood (98117). What I am amazed at has been the number of tear-downs and dormers being built in the rain...unbelievable.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('504','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('504','Anonymous','Things still look brisk around my neighborhood (98117). What I am amazed at has been the number of tear-downs and dormers being built in the rain...unbelievable.',''); return false;">Quote</a></div> Things still look brisk around my neighborhood (98117). What I am amazed at has been the number of tear-downs and dormers being built in the rain…unbelievable.
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]]> By: Dukeshttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-503 Dukes Thu, 02 Mar 2006 16:28:20 +0000 http://seattlebubble.com/blog/?p=160#comment-503 Just an FYI: Here is today's latest 24Hour #'s from NW MLS.<br/><br/>New Listings 709 <br/>Back on Market 99 <br/>Price Increases 119 <br/>Price Reductions 249 <br/>Contingents 20 <br/>Pendings 487 <br/>Solds 773 <br/>Expireds 179 <br/>Inactives 113 <br/><br/>A lot of new listings, but also a lot of solds. Notice 249 price reductions. I think the price increases were probably ones that were taken off the market and then relisted...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('503','Dukes',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('503','Dukes','Just an FYI: Here is today\'s latest 24Hour #\'s from NW MLS.<br\/><br\/>New Listings 709 <br\/>Back on Market 99 <br\/>Price Increases 119 <br\/>Price Reductions 249 <br\/>Contingents 20 <br\/>Pendings 487 <br\/>Solds 773 <br\/>Expireds 179 <br\/>Inactives 113 <br\/><br\/>A lot of new listings, but also a lot of solds. Notice 249 price reductions. I think the price increases were probably ones that were taken off the market and then relisted...',''); return false;">Quote</a></div> Just an FYI: Here is today’s latest 24Hour #’s from NW MLS.

New Listings 709
Back on Market 99
Price Increases 119
Price Reductions 249
Contingents 20
Pendings 487
Solds 773
Expireds 179
Inactives 113

A lot of new listings, but also a lot of solds. Notice 249 price reductions. I think the price increases were probably ones that were taken off the market and then relisted…

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]]> By: Dukeshttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-502 Dukes Thu, 02 Mar 2006 15:49:05 +0000 http://seattlebubble.com/blog/?p=160#comment-502 Great work Seattle Price Drop...<br/><br/>I have been doing a lot of canvassing of neighborhoods in the Seattle area and the game is still being played here. People...I mean sheople...are still buying.<br/><br/>I really think it is going to take a god damned hammer over the head to make these people realize the trend sweeping the country. Looks like we will be late to the party. But, I have no doubt it will get ugly here as well.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('502','Dukes',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('502','Dukes','Great work Seattle Price Drop...<br\/><br\/>I have been doing a lot of canvassing of neighborhoods in the Seattle area and the game is still being played here. People...I mean sheople...are still buying.<br\/><br\/>I really think it is going to take a god damned hammer over the head to make these people realize the trend sweeping the country. Looks like we will be late to the party. But, I have no doubt it will get ugly here as well.',''); return false;">Quote</a></div> Great work Seattle Price Drop…

I have been doing a lot of canvassing of neighborhoods in the Seattle area and the game is still being played here. People…I mean sheople…are still buying.

I really think it is going to take a god "golly"ed hammer over the head to make these people realize the trend sweeping the country. Looks like we will be late to the party. But, I have no doubt it will get ugly here as well.

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]]> By: seattle price drophttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-501 seattle price drop Thu, 02 Mar 2006 09:02:02 +0000 http://seattlebubble.com/blog/?p=160#comment-501 Here's some price reduction stats for March 1 (from Ziprealty.com) for 2 in-town zips:<br/><br/>98115: Ravenna<br/> total homes for sale: 58<br/> # of price -reduced: 18<br/><br/>98103: Green Lake<br/> total homes for sale: 71<br/> # of price reduced : 24<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('501','seattle price drop',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('501','seattle price drop','Here\'s some price reduction stats for March 1 (from Ziprealty.com) for 2 in-town zips:<br\/><br\/>98115: Ravenna<br\/> total homes for sale: 58<br\/> # of price -reduced: 18<br\/><br\/>98103: Green Lake<br\/> total homes for sale: 71<br\/> # of price reduced : 24',''); return false;">Quote</a></div> Here’s some price reduction stats for March 1 (from Ziprealty.com) for 2 in-town zips:

98115: Ravenna
total homes for sale: 58
# of price -reduced: 18

98103: Green Lake
total homes for sale: 71
# of price reduced : 24

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]]> By: Anonymoushttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-499 Anonymous Thu, 02 Mar 2006 08:12:05 +0000 http://seattlebubble.com/blog/?p=160#comment-499 Oooops the link got cut off.<br/><br/>Families buying homes they can't afford. Who do you think the cops will look at for the disappearance of his wife?!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('499','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('499','Anonymous','Oooops the link got cut off.<br\/><br\/>Families buying homes they can\'t afford. Who do you think the cops will look at for the disappearance of his wife?!',''); return false;">Quote</a></div> Oooops the link got cut off.

Families buying homes they can’t afford. Who do you think the cops will look at for the disappearance of his wife?!

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]]> By: Anonymoushttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-498 Anonymous Thu, 02 Mar 2006 07:49:29 +0000 http://seattlebubble.com/blog/?p=160#comment-498 More of this will happen soon:<br/><br/>The young woman, who suffered from chronic back pain and was reportedly under significant financial pressure after recently buying a condominium with her husband, vanished Jan. 28 after leaving home to have dinner with friends. She never showed up, and the next day, her husband reported her missing.<br/><br/>http://www.crimelibrary.com/news/original/0206/0801_nicole_pietz_found_dead.html<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('498','Anonymous',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('498','Anonymous','More of this will happen soon:<br\/><br\/>The young woman, who suffered from chronic back pain and was reportedly under significant financial pressure after recently buying a condominium with her husband, vanished Jan. 28 after leaving home to have dinner with friends. She never showed up, and the next day, her husband reported her missing.<br\/><br\/>http:\/\/www.crimelibrary.com\/news\/original\/0206\/0801_nicole_pietz_found_dead.html',''); return false;">Quote</a></div> More of this will happen soon:

The young woman, who suffered from chronic back pain and was reportedly under significant financial pressure after recently buying a condominium with her husband, vanished Jan. 28 after leaving home to have dinner with friends. She never showed up, and the next day, her husband reported her missing.

http://www.crimelibrary.com/news/original/0206/0801_nicole_pietz_found_dead.html

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]]> By: seattle price drophttp://seattlebubble.com/blog/2006/03/01/government-funded-affordability/#comment-497 seattle price drop Thu, 02 Mar 2006 01:51:13 +0000 http://seattlebubble.com/blog/?p=160#comment-497 Looking forward to the day when "affordable housing" means: go out and get a job and you can buy yourself an affordable house - one that you can pay off in a reasonable amount of time rather than renting from the bank for decades and decdes.<br/><br/>This new definition of "affordable housing" as something granted from government programs, the big daddy who owns you approach, has got to go. It's making suckers and schmucks out of all of us.<br/><br/>Now for a look at one of those opportunists (just one of many) who has taken a part (or hopes to) in this obscene housing game of the past several years:<br/><br/>1919 NE Naomi Place<br/>bought March 2005 for 561K<br/>on market Dec 2005 for 899K<br/>taken off the market Feb 2 '06<br/><br/>Feb. 28 '06 back on market for 899K<br/><br/>This persons hubris or folly is astounding. I expected this property to show up again at a reduced price. Wrong!!<br/><br/>Will she get what she's after when the market "revives" this spring? Or has she missed the boat entirely?<br/><br/>Stay tuned..<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('497','seattle price drop',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('497','seattle price drop','Looking forward to the day when \"affordable housing\" means: go out and get a job and you can buy yourself an affordable house - one that you can pay off in a reasonable amount of time rather than renting from the bank for decades and decdes.<br\/><br\/>This new definition of \"affordable housing\" as something granted from government programs, the big daddy who owns you approach, has got to go. It\'s making suckers and schmucks out of all of us.<br\/><br\/>Now for a look at one of those opportunists (just one of many) who has taken a part (or hopes to) in this obscene housing game of the past several years:<br\/><br\/>1919 NE Naomi Place<br\/>bought March 2005 for 561K<br\/>on market Dec 2005 for 899K<br\/>taken off the market Feb 2 \'06<br\/><br\/>Feb. 28 \'06 back on market for 899K<br\/><br\/>This persons hubris or folly is astounding. I expected this property to show up again at a reduced price. Wrong!!<br\/><br\/>Will she get what she\'s after when the market \"revives\" this spring? Or has she missed the boat entirely?<br\/><br\/>Stay tuned..',''); return false;">Quote</a></div> Looking forward to the day when “affordable housing” means: go out and get a job and you can buy yourself an affordable house – one that you can pay off in a reasonable amount of time rather than renting from the bank for decades and decdes.

This new definition of “affordable housing” as something granted from government programs, the big daddy who owns you approach, has got to go. It’s making suckers and schmucks out of all of us.

Now for a look at one of those opportunists (just one of many) who has taken a part (or hopes to) in this obscene housing game of the past several years:

1919 NE Naomi Place
bought March 2005 for 561K
on market Dec 2005 for 899K
taken off the market Feb 2 ‘06

Feb. 28 ‘06 back on market for 899K

This persons hubris or folly is astounding. I expected this property to show up again at a reduced price. Wrong!!

Will she get what she’s after when the market “revives” this spring? Or has she missed the boat entirely?

Stay tuned..

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