Seattle Bubble

As November draws to a close, would anyone care to venture any guesses as to what the King County MLS numbers for the month will show? Here are my guesses, straight outta left field:
Median Closed Sales Price (Res): $435,000Median Closed Sales Price (Condo): $260,000Active Listings (Res): 7,250Pending Sales (Res): 2,000
If the numbers come out [...]

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I get the feeling that someone at Inman News has been reading Seattle Bubble lately… Check out this story about the misleading descriptions real estate agents sometimes write for properties.
Do you steam when you follow up on a newspaper advertisement for “cozy cottage” and find a falling-down fixer? Can the term “waterfront access” accurately [...]

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Story from HeraldNet.com, November 26, 2006
Summer, the prime time for selling a home, was approaching and Jeanne and Eric Mehan wanted to sell fast.
In the rush to sell before fall, the Woodinville couple acted on some bad advice.
Put it on the market, full of clutter, not cleaned, at top price, even if it’s not ready, [...]

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From Bubble Markets Inventory Tracking:
Percentage of Reduced Listings Per Market.
Ventura County:10/22: 51.3%—> 11/18: 50.3%
Sacramento Metro:1/30: 30.5%—> 10/20: 49.0%—> 11/18: 49.0%
Orange County:1/30: 22.8%—> 10/20: 45.8%—> 11/18: 45.0%
San Diego County:1/30: 26.3%—> 10/20: 43.9%—> 11/18: 42.9%
Phoenix Metro:1/30: 28.0%—> 10/20: 43.2%—> 11/18: 42.2%
Riverside County:1/30: 27.3%—> 10/20: 40.2%—> 11/18: 39.5%
Las Vegas Metro:1/30: 21.0%—> 10/20: 40.0%—> 11/18: 39.9%
Los Angeles County:1/30: 21.8%—> [...]

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The Washington Center for Real Estate Research (WCRER)has released their latest affordability statistics. Unsurprisingly, home affordability in King County dropped yet again, reaching a new low of 69.2. Here’s your latest graph of WCRER’s index since 1994:
Click to enlarge
The decline in affordability from Q2 to Q3 was relatively minor, due to lower interest [...]

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King 5 News reports on a home-buying scheme that has ensnared at least a few unsuspecting victims:
Imagine buying a home and moving in, only to find out later that the house was never yours at all.
It’s a mortgage scheme that’s caused financial pain and heartache for many families in Western Washington.
It’s a scam so bizarre [...]

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