Comments on: Puget Sound Counties January Update http://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/ local real estate news, statistics, and commentary without the sales spin. Fri, 12 Mar 2010 17:02:20 -0800 http://wordpress.org/?v=2.9.2 hourly 1 By: Andyhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-67334 Andy Sat, 28 Feb 2009 18:33:20 +0000 http://seattlebubble.com/blog/?p=4522#comment-67334 Thurston is certainly holding its own...for now...those living in Thurston County are probably living in one of the last US housing bubbles to deflate.BUT the legislature is still in session and the state budget has yet to be finalized. Just wait until state agencies start laying people off in droves in the next several months...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('67334','Andy',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('67334','Andy','Thurston is certainly holding its own...for now...those living in Thurston County are probably living in one of the last US housing bubbles to deflate.\r\n\r\nBUT the legislature is still in session and the state budget has yet to be finalized. Just wait until state agencies start laying people off in droves in the next several months...',''); return false;">Quote</a></div> Thurston is certainly holding its own…for now…those living in Thurston County are probably living in one of the last US housing bubbles to deflate.

BUT the legislature is still in session and the state budget has yet to be finalized. Just wait until state agencies start laying people off in droves in the next several months…

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]]> By: Kary L. Krismerhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-67050 Kary L. Krismer Wed, 25 Feb 2009 17:30:43 +0000 http://seattlebubble.com/blog/?p=4522#comment-67050 Yes, apparently I am, thanks! But perhaps that one is a case of information overload. With just the three years what is happening now with volume would be a bit more apparent.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('67050','Kary L. Krismer',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('67050','Kary L. Krismer','Yes, apparently I am, thanks! But perhaps that one is a case of information overload. With just the three years what is happening now with volume would be a bit more apparent.',''); return false;">Quote</a></div> Yes, apparently I am, thanks! But perhaps that one is a case of information overload. With just the three years what is happening now with volume would be a bit more apparent.
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]]> By: The Timhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-67047 The Tim Wed, 25 Feb 2009 17:17:17 +0000 http://seattlebubble.com/blog/?p=4522#comment-67047 <b>RE:</b> <a href='#comment-67037' rel="nofollow">Kary L. Krismer @ 11</a> - It sounds like you're describing the second and third graphs on <a href="http://seattlebubble.com/blog/2009/02/04/nwmls-home-prices-rewound-to-august-2005/" rel="nofollow">my regular NWMLS stats monthly update</a>.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('67047','The Tim',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('67047','The Tim','<b>RE:<\/b> <a href=\'#comment-67037\' rel=\"nofollow\">Kary L. Krismer @ 11<\/a> - It sounds like you\'re describing the second and third graphs on <a href=\"http:\/\/seattlebubble.com\/blog\/2009\/02\/04\/nwmls-home-prices-rewound-to-august-2005\/\" rel=\"nofollow\">my regular NWMLS stats monthly update<\/a>.',''); return false;">Quote</a></div> RE: Kary L. Krismer @ 11 – It sounds like you’re describing the second and third graphs on my regular NWMLS stats monthly update.
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]]> By: Kary L. Krismerhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-67037 Kary L. Krismer Wed, 25 Feb 2009 14:58:48 +0000 http://seattlebubble.com/blog/?p=4522#comment-67037 Tim, how hard would it be to create a chart that gives King County SFR volume data for each month, with a separate line for 2006, 2007 and 2008? If you don't have ready access to the numbers I could give them to you. But I think that would clearly show the declines that have occurred, taking seasonality out of it because each January could be compared to the other Januarys' data, etc.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('67037','Kary L. Krismer',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('67037','Kary L. Krismer','Tim, how hard would it be to create a chart that gives King County SFR volume data for each month, with a separate line for 2006, 2007 and 2008? If you don\'t have ready access to the numbers I could give them to you. But I think that would clearly show the declines that have occurred, taking seasonality out of it because each January could be compared to the other Januarys\' data, etc.',''); return false;">Quote</a></div> Tim, how hard would it be to create a chart that gives King County SFR volume data for each month, with a separate line for 2006, 2007 and 2008? If you don’t have ready access to the numbers I could give them to you. But I think that would clearly show the declines that have occurred, taking seasonality out of it because each January could be compared to the other Januarys’ data, etc.
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]]> By: Cassie Daughtreyhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-67026 Cassie Daughtrey Wed, 25 Feb 2009 07:53:52 +0000 http://seattlebubble.com/blog/?p=4522#comment-67026 I'm not surprised. And I'm not complaining. As a Seattle based agent, this last couple of months have been my best to date in my career. I have no complaints. This economy's been good to me!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('67026','Cassie Daughtrey',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('67026','Cassie Daughtrey','I\'m not surprised. And I\'m not complaining. As a Seattle based agent, this last couple of months have been my best to date in my career. I have no complaints. This economy\'s been good to me!',''); return false;">Quote</a></div> I’m not surprised. And I’m not complaining. As a Seattle based agent, this last couple of months have been my best to date in my career. I have no complaints. This economy’s been good to me!
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]]> By: Kary L. Krismerhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-67018 Kary L. Krismer Wed, 25 Feb 2009 05:52:39 +0000 http://seattlebubble.com/blog/?p=4522#comment-67018 Wrong thread--sorry.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('67018','Kary L. Krismer',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('67018','Kary L. Krismer','Wrong thread--sorry.',''); return false;">Quote</a></div> Wrong thread–sorry.
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]]> By: Kary L. Krismerhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66979 Kary L. Krismer Tue, 24 Feb 2009 23:26:45 +0000 http://seattlebubble.com/blog/?p=4522#comment-66979 <b>RE:</b> <a href='#comment-66952' rel="nofollow">Jake @ 6</a> - King county is a very big county, so I wouldn't make any such assumption.The thing is, the comparison to January 2008 really understates the problem, because January 2008 was a relatively horrible month--until the post bailout talk months.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66979','Kary L. Krismer',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66979','Kary L. Krismer','<b>RE:<\/b> <a href=\'#comment-66952\' rel=\"nofollow\">Jake @ 6<\/a> - King county is a very big county, so I wouldn\'t make any such assumption.\r\n\r\nThe thing is, the comparison to January 2008 really understates the problem, because January 2008 was a relatively horrible month--until the post bailout talk months.',''); return false;">Quote</a></div> RE: Jake @ 6 – King county is a very big county, so I wouldn’t make any such assumption.

The thing is, the comparison to January 2008 really understates the problem, because January 2008 was a relatively horrible month–until the post bailout talk months.

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]]> By: DaveyDavehttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66965 DaveyDave Tue, 24 Feb 2009 21:06:43 +0000 http://seattlebubble.com/blog/?p=4522#comment-66965 At another level of detail, here are some data on local Seattle neighborhoods I follow -- Ballard (area 705), Magnolia (area 700) and Capitol Hill (area 390). This merely tracks NWMLS median SFH numbers from August '07 which is pretty near the peak. Area 705: August '07-$494,500: January '09-$381,500: Percent drop: -23% Area 700: August '07-$692,000: January '09-$550,000: Percent drop: -22% Area 390: August '07-$650,000: January '09-$486,500: Percent drop: -25%Just sharing what I'm tracking...<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66965','DaveyDave',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66965','DaveyDave','At another level of detail, here are some data on local Seattle neighborhoods I follow -- Ballard (area 705), Magnolia (area 700) and Capitol Hill (area 390). This merely tracks NWMLS median SFH numbers from August \'07 which is pretty near the peak.\r\nArea 705: August \'07-$494,500: January \'09-$381,500: Percent drop: -23%\r\nArea 700: August \'07-$692,000: January \'09-$550,000: Percent drop: -22%\r\nArea 390: August \'07-$650,000: January \'09-$486,500: Percent drop: -25%\r\n\r\nJust sharing what I\'m tracking...',''); return false;">Quote</a></div> At another level of detail, here are some data on local Seattle neighborhoods I follow — Ballard (area 705), Magnolia (area 700) and Capitol Hill (area 390). This merely tracks NWMLS median SFH numbers from August ‘07 which is pretty near the peak.
Area 705: August ‘07-$494,500: January ‘09-$381,500: Percent drop: -23%
Area 700: August ‘07-$692,000: January ‘09-$550,000: Percent drop: -22%
Area 390: August ‘07-$650,000: January ‘09-$486,500: Percent drop: -25%

Just sharing what I’m tracking…

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]]> By: Jakehttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66952 Jake Tue, 24 Feb 2009 17:59:40 +0000 http://seattlebubble.com/blog/?p=4522#comment-66952 Anybody else wonder if the King MOS numbers are lower than they should be because it is calculated with SFH numbers only, rather than including condos/multi-family dwellings which I assume are a much larger percentage of King county's housing stock than the others?<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66952','Jake',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66952','Jake','Anybody else wonder if the King MOS numbers are lower than they should be because it is calculated with SFH numbers only, rather than including condos\/multi-family dwellings which I assume are a much larger percentage of King county\'s housing stock than the others?',''); return false;">Quote</a></div> Anybody else wonder if the King MOS numbers are lower than they should be because it is calculated with SFH numbers only, rather than including condos/multi-family dwellings which I assume are a much larger percentage of King county’s housing stock than the others?
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]]> By: What the Heckhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66945 What the Heck Tue, 24 Feb 2009 17:41:04 +0000 http://seattlebubble.com/blog/?p=4522#comment-66945 <b>RE:</b> <a href='#comment-66933' rel="nofollow">rose-colored-coolaid @ 4</a> -Just trying to say that maybe Olympia will fall less because it went up less. Not immune, just not as volatile. Relax dude.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66945','What the Heck',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66945','What the Heck','<b>RE:<\/b> <a href=\'#comment-66933\' rel=\"nofollow\">rose-colored-coolaid @ 4<\/a> - \r\n\r\nJust trying to say that maybe Olympia will fall less because it went up less. Not immune, just not as volatile. Relax dude.',''); return false;">Quote</a></div> RE: rose-colored-coolaid @ 4 –

Just trying to say that maybe Olympia will fall less because it went up less. Not immune, just not as volatile. Relax dude.

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]]> By: rose-colored-coolaidhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66933 rose-colored-coolaid Tue, 24 Feb 2009 16:56:38 +0000 http://seattlebubble.com/blog/?p=4522#comment-66933 Um, maybe Olympia is special and a world class city? Ergo, it's not subject to the whims of housing crashes the way a lesser city like Seattle is.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66933','rose-colored-coolaid',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66933','rose-colored-coolaid','Um, maybe Olympia is special and a world class city? Ergo, it\'s not subject to the whims of housing crashes the way a lesser city like Seattle is.',''); return false;">Quote</a></div> Um, maybe Olympia is special and a world class city? Ergo, it’s not subject to the whims of housing crashes the way a lesser city like Seattle is.
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]]> By: Thomas B.http://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66928 Thomas B. Tue, 24 Feb 2009 16:39:45 +0000 http://seattlebubble.com/blog/?p=4522#comment-66928 Pierce is interesting... I was in the Graham/South Hill/Puyallup neighborhoods a couple of months ago and couldn't help but notice all the unsold houses. The 7.2 month supply is surprising. They must have either sold a lot of houses lately, or a lot of houses were pulled off the market. Either way, I think there is something suspicious about the 7.2 months of supply number.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66928','Thomas B.',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66928','Thomas B.','Pierce is interesting... I was in the Graham\/South Hill\/Puyallup neighborhoods a couple of months ago and couldn\'t help but notice all the unsold houses. The 7.2 month supply is surprising. They must have either sold a lot of houses lately, or a lot of houses were pulled off the market. Either way, I think there is something suspicious about the 7.2 months of supply number.',''); return false;">Quote</a></div> Pierce is interesting… I was in the Graham/South Hill/Puyallup neighborhoods a couple of months ago and couldn’t help but notice all the unsold houses. The 7.2 month supply is surprising. They must have either sold a lot of houses lately, or a lot of houses were pulled off the market. Either way, I think there is something suspicious about the 7.2 months of supply number.
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]]> By: What the Heckhttp://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66914 What the Heck Tue, 24 Feb 2009 14:40:37 +0000 http://seattlebubble.com/blog/?p=4522#comment-66914 My understanding is that Olympia looks much better than Thurston County. County includes Horizion Point development that recently had 57 lot/properties (I think this is the number) in foreclosure. Thurston as a whole did not see the dramatic upswings that were found in King/Sno and as you pointed out, there is a higher percentage of government jobs. Would be interesting to see one of your analysis on the Thurston market in detail.<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66914','What the Heck',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66914','What the Heck','My understanding is that Olympia looks much better than Thurston County. County includes Horizion Point development that recently had 57 lot\/properties (I think this is the number) in foreclosure. Thurston as a whole did not see the dramatic upswings that were found in King\/Sno and as you pointed out, there is a higher percentage of government jobs. Would be interesting to see one of your analysis on the Thurston market in detail.',''); return false;">Quote</a></div> My understanding is that Olympia looks much better than Thurston County. County includes Horizion Point development that recently had 57 lot/properties (I think this is the number) in foreclosure. Thurston as a whole did not see the dramatic upswings that were found in King/Sno and as you pointed out, there is a higher percentage of government jobs. Would be interesting to see one of your analysis on the Thurston market in detail.
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]]> By: PublicEnemy#1http://seattlebubble.com/blog/2009/02/24/puget-sound-counties-january-update/#comment-66913 PublicEnemy#1 Tue, 24 Feb 2009 14:32:27 +0000 http://seattlebubble.com/blog/?p=4522#comment-66913 Interesting about Thurston... I remember looking at homes once in Lacey thinking they were ridiculously overpriced and the agent was trying to tell me how easy the commute to Seattle was.Umm... yeah....I keep thinking of all those people who bought at or near the peak that are going to be living in their homes, paying a lot more than their new neighbors, for YEARS to come in Seattle.New C/S is out.... ouch!<div class="comment-remix-meta"><a href="#" class="replyto" onclick="replyto('66913','PublicEnemy#1',''); return false;">Reply</a> - <a href="#" class="quote" onclick="quote('66913','PublicEnemy#1','Interesting about Thurston... I remember looking at homes once in Lacey thinking they were ridiculously overpriced and the agent was trying to tell me how easy the commute to Seattle was.\n\nUmm... yeah....\n\nI keep thinking of all those people who bought at or near the peak that are going to be living in their homes, paying a lot more than their new neighbors, for YEARS to come in Seattle.\n\nNew C\/S is out.... ouch!',''); return false;">Quote</a></div> Interesting about Thurston… I remember looking at homes once in Lacey thinking they were ridiculously overpriced and the agent was trying to tell me how easy the commute to Seattle was.

Umm… yeah….

I keep thinking of all those people who bought at or near the peak that are going to be living in their homes, paying a lot more than their new neighbors, for YEARS to come in Seattle.

New C/S is out…. ouch!

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