Posted by: Timothy Ellis (The Tim)

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market.

35 responses to “February Reporting Roundup”

  1. [troll]

    t’s slmp – th mrkt n’t dd. Stff s sllng – y jst hv t wrk hrdr nd b bl t b strght wth ppl wh dvlp mtnl ttchmnts t thr hm (ths prcng t nrsnbly).

    Dd s t mght ppr t y whl y’r scrng th wb fr rtcls t sbstntt yr msngs, t s ctlly nt tht bd.< hrf="#" clss="rplyt" nclck="rplyt('44094','∓#91;trll∓#93;','1'); rtrn fls;">Rply – < hrf="#" clss="qt" nclck="qt('44094','∓#91;trll∓#93;','t\'s slmp - th mrkt n\'t dd. Stff s sllng - y jst hv t wrk hrdr nd b bl t b strght wth ppl wh dvlp mtnl ttchmnts t thr hm (ths prcng t nrsnbly).\r\n\r\nDd s t mght ppr t y whl y\'r scrng th wb fr rtcls t sbstntt yr msngs, t s ctlly nt tht bd.','1'); rtrn fls;">Qt

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  2. Jason

    Give me a break NostragollyUs. lol

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  3. Geordie Romer

    Things are a little different in my neck of the woods. We seem to be rebounding in Leavenworth, though we still have a glut of new condos.

    http://www.myleavenworth.com/2008/02/real-estate-in-leavenworth-is-heating.html

    January and February have posted great YOY gains (prices up, volume of sales up) and sellers are not adding to the inventory like they have in years past.

    I’d be curious to hear how other vacation markets around the PNW are doing.

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  4. Mike

    Well, three homes that we looked at this past weekend all went STI yesterday. So if there is a slump, it must be affecting things that are out of our price range. :-/

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  5. Ira Sacharoff

    …But there is really a “drink the Kool-Aid” mentality amongst RE professionals, even the honest ones, that now is a good time to buy. I speak to a lot of folks in the industry, and I’ve come to respect a few for their honesty, and I don’t think they’re “lying” when they say that now is a good time to buy. I think they’re wrong, but I think they believe what they’re saying.
    I’d like to see some evidence that this market has stopped declining, or that pending sales start exceeding new listings before I’ll tell people to jump in.
    At the same time there are a few more listings in certain areas where sellers have grown desperate and offering significant discounts to market value. I expect these to increase.

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  6. John

    Another wild card is how big of a hit people will be taking in their 401k.

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  7. deejayoh

    Nostra is a local real estate expert.

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  8. David McManus

    Nostra, aren’t you supposed to be out inking deals instead of playing on the Innernets?

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  9. [troll]

    rf-d my wn hm t 5.6% (30 y, fxd) w/Cntrywd, thy hd ‘spcls’ rght s thy wr bng lqdtd/sld ff t B. f y lk t th Frdd Mc srvys, thr’s nly fw mnths whr w g blw 5.6% vr th spn f lst fw yrs, s ys, bt mnth g, rght bfr th fd nnncd th lst ct tht’s nw crrnt, mrkts hd lrdy ncrprtd th ct nt th prc, nd frtntly, hv gd mtg brkr wh clls m whn h ss smthng ntwrthy, nd w wr bl t rf t 5.6%!

    S, ys, t ws, stll s gd tm t by – thnk w my tst th lw 5’s n th ntrst rts gn, sn, nd ths wth brkrs wh cn tll thr ss frm hl n th grnd, wll b frtnt ngh t thr by r rf t prtty glly gd rt.

    Dn’t frt ppl. Y stll hv sm tm t ply, bt hrry t p. nw shrrf (prsdnt) wll b n twn n 2009, nd tht’ll b dffrnt bll gm thn wht y’r sng nw…

    Thn gn, cld b wrng – nd Tm nd hs blg cld b rght. r yr ‘hnchs’ cld b rght (r wrng)… r yr lttl ngls r dvls sttng n yr shldr(s) cld b rght r wrng ;)…. Wh knws, h? :)< hrf="#" clss="rplyt" nclck="rplyt('44107','∓#91;trll∓#93;','9'); rtrn fls;">Rply – < hrf="#" clss="qt" nclck="qt('44107','∓#91;trll∓#93;',' rf-d my wn hm t 5.6% (30 y, fxd) w\/Cntrywd, thy hd \'spcls\' rght s thy wr bng lqdtd\/sld ff t B. f y lk t th Frdd Mc srvys, thr\'s nly fw mnths whr w g blw 5.6% vr th spn f lst fw yrs, s ys, bt mnth g, rght bfr th fd nnncd th lst ct tht\'s nw crrnt, mrkts hd lrdy ncrprtd th ct nt th prc, nd frtntly, hv gd mtg brkr wh clls m whn h ss smthng ntwrthy, nd w wr bl t rf t 5.6%!\r\n\r\nS, ys, t ws, stll s gd tm t by - thnk w my tst th lw 5\'s n th ntrst rts gn, sn, nd ths wth brkrs wh cn tll thr ss frm hl n th grnd, wll b frtnt ngh t thr by r rf t prtty glly gd rt.\r\n\r\nDn\'t frt ppl. Y stll hv sm tm t ply, bt hrry t p. nw shrrf (prsdnt) wll b n twn n 2009, nd tht\'ll b dffrnt bll gm thn wht y\'r sng nw... \r\n\r\nThn gn, cld b wrng - nd Tm nd hs blg cld b rght. r yr \'hnchs\' cld b rght (r wrng)... r yr lttl ngls r dvls sttng n yr shldr(s) cld b rght r wrng ;).... Wh knws, h? :)','9'); rtrn fls;">Qt

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  10. [troll]

    shld dd – 5.6% w/0 pnts dwn. Tht’s wht md t prtclrly gd, t f pckt cst ws bt 1600….< hrf="#" clss="rplyt" nclck="rplyt('44108','∓#91;trll∓#93;','10'); rtrn fls;">Rply – < hrf="#" clss="qt" nclck="qt('44108','∓#91;trll∓#93;',' shld dd - 5.6% w\/0 pnts dwn. Tht\'s wht md t prtclrly gd, t f pckt cst ws bt 1600....','10'); rtrn fls;">Qt

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  11. David McManus

    Nostra, call Dave Ross now and talk to Tim!!!!

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  12. [troll]

    Wh’s Dv Rss?< hrf="#" clss="rplyt" nclck="rplyt('44110','∓#91;trll∓#93;','12'); rtrn fls;">Rply – < hrf="#" clss="qt" nclck="qt('44110','∓#91;trll∓#93;','Wh\'s Dv Rss?','12'); rtrn fls;">Qt

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  13. tlw

    Dave Ross a radio show host on KIRO AM 710 station.

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  14. tlw

    I see that NostraDammUs is possibly past the anger phase and now in acceptance.

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  15. David McManus

    Not from here, nostra?

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  16. deejayoh

    New GSE loan ceiling for Seatlte was just announced – $567,500

    http://www.ofheo.gov/media/hpi/AREA_LIST.pdf

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  17. Buceri

    Historic…

    http://biz.yahoo.com/ap/080306/home_equity.html

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  18. [troll]

    Srry, dn’t rlly lstn t M rd. NPR d lstn smtms, bt tht’s FM, nd rlly gt trd f tlk shw hsts -thy’r wrs thn ths blg, wntng t b rght ll th tm….

    Wh tld y ws ngry? t ws y gys gttng pssd fr nt bng bl t ffrd hm, nt m. Y’r th ns dggng nd mnng bt hm prcs bng t hgh nd y bng nbl t ffrd hm. thrws wtf r y dng hr (nlss y r nt fllwng trnds, nd ths wld bvsly b th chclttst plc t d tht nywy)?< hrf="#" clss="rplyt" nclck="rplyt('44122','∓#91;trll∓#93;','18'); rtrn fls;">Rply – < hrf="#" clss="qt" nclck="qt('44122','∓#91;trll∓#93;','Srry, dn\'t rlly lstn t M rd. NPR d lstn smtms, bt tht\'s FM, nd rlly gt trd f tlk shw hsts -thy\'r wrs thn ths blg, wntng t b rght ll th tm....\r\n\r\nWh tld y ws ngry? t ws y gys gttng pssd fr nt bng bl t ffrd hm, nt m. Y\'r th ns dggng nd mnng bt hm prcs bng t hgh nd y bng nbl t ffrd hm. thrws wtf r y dng hr (nlss y r nt fllwng trnds, nd ths wld bvsly b th chclttst plc t d tht nywy)?','18'); rtrn fls;">Qt

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  19. David McManus

    I think when prices are artificially set higher by government intervention, the fall ends up being much harder.

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  20. David McManus

    Nostra, I own a home. I’m just a realist, so don’t be mad at me about being grounded in reality.

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  21. David McManus

    Sorry…not own….I rent from a bank.

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  22. Joel

    New GSE loan ceiling for Seatlte was just announced – $567,500

    Making it easier than ever to cut yourself trying to catch a falling knife.

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  23. b

    NostragollyUs,

    Yes, all of us are very poor and nearly homeless on the streets. Nobody can match the powerful riches of yourself or your fellow homeowners. Having hundreds of thousands of dollars invested in a declining asset is the newest path to wealth, I envy you greatly. Sorry, have to go now, the soup can I am heating over a candle is hot and if I don’t eat up I might not be able to work a full shift at McDonalds tonight.

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  24. [troll]

    b – y jst nd lttl lv mn. Nthng wrng w/wrkng t McDnlds.< hrf="#" clss="rplyt" nclck="rplyt('44136','∓#91;trll∓#93;','24'); rtrn fls;">Rply – < hrf="#" clss="qt" nclck="qt('44136','∓#91;trll∓#93;','b - y jst nd lttl lv mn. Nthng wrng w\/wrkng t McDnlds.','24'); rtrn fls;">Qt

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  25. [troll]

    Dv – rnt 1/2 my hm frm th bnk , thr hlf’s pd ff.

    Nw bck t my McDnld’s nght shft ;).< hrf="#" clss="rplyt" nclck="rplyt('44137','∓#91;trll∓#93;','25'); rtrn fls;">Rply – < hrf="#" clss="qt" nclck="qt('44137','∓#91;trll∓#93;','Dv - rnt 1\/2 my hm frm th bnk , thr hlf\'s pd ff.\r\n\r\nNw bck t my McDnld\'s nght shft ;).','25'); rtrn fls;">Qt

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  26. David McManus

    Will you please let us know which agency or brokerage firm you work at, so that we may avoid it at all costs in the future?

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  27. Making Lists to Inspire Productivity : Thatch Mound

    [...] throw a wrench in a well-planned list.  Today when I thought I was going to just make a quick reporting roundup post on Seattle Bubble, and spend the rest of the day writing for project Artichoke.  Instead, I began [...]

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  28. MarkM

    Almost makes me nostalgic for the commercial where buying a home was supposedly as easy as buying a latte. Obviously buying a $3.50 latte and a $350,000.00 home should be in the same league… right? ;-)

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  29. Joel

    Obviously buying a $3.50 latte and a $350,000.00 home should be in the same league… right? ;-)

    No dummy, people in the NW take their coffee products seriously. They put way more thought into buying a latte than buying a house.

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  30. Ira Sacharoff

    ….and if the house has a built in espresso machine? Then it doesn’t even need granite countertops!

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  31. disbelief

    I’ve been away and apparently missed something. Did Nostra “come out” as a Realtor or something related. Oh, what a surprise! Please stick around Nostra, looking forward to your posts this year (should be a great year for sales! or, uh, fires in any case)

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  32. Faster

    NostragollyUs…I can afford a house, a nice house at that. If you doubt it, make me a meaningful wager and we’ll put your theory to the test.

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  33. MacAttack

    “I’d be curious to hear how other vacation markets around the PNW are doing.”

    Really? Go here: http://www.bendbubble2.blogspot.com

    Enjoy,
    Mac

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  34. MacAttack

    From Bend, Or…

    We are soliciting stories for the tabloid newspaper insert of our “Best
    Buyers Market in 20 Years” campaign. The deadline for stories is Mar. 17.
    The tabloid is scheduled to appear first in The Bulletin on April 2,
    followed by other local papers. The target audiences for the insert are
    first-time homebuyers, home “upgraders”, and active retirees. Our key
    messages are large inventory, affordable financing options, and the
    resources available to first-time buyers. We are seeking stories from
    Realtors that focus on recent sales experience in this market, including
    testimonials from first-time and other buyers who took advantage of current
    conditions, especially people who just couldn’t wait to move here and jumped
    at this great opportunity.

    Please send me your stories before the March 17 deadline so that we can edit
    them into the first draft of the tabloid.

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  35. Reporting Roundup: The bottom is in, unless it isn’t. | Seattle Bubble — News & discussion about real estate & the housing bubble in the Seattle area.

    [...] buyers flocking to open houses, with the market “set to get its mojo back” in March, just like it was last year? Read on to find [...]

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