- Banks continuing construction in developments foreclosed from builders – http://is.gd/7rltV #
- Escala, condo complex that announced higher prices as the bubble burst now dropping prices http://is.gd/7smaa (3rd story) #
- Glenn Kelman, Redfin CEO: "people don't trust agents" (still) (via @TechFlash) http://is.gd/7txkn #
- Reader asks in the Seattle Bubble forums: "Is Belltown safe TODAY?" http://is.gd/7vOyN #
- Youch, Sterling Financial (WA's largest troubled bank) lost $333 million in Q4. http://is.gd/7vT9L #
- Zero Hedge: The Next Leg Of The Housing Crisis In Five Simple Charts http://is.gd/7wsDE #
- Glenn Kelman to the real estate industry: "Let's Stop Being 'Screwed Up'" http://is.gd/7wuV8 #
- Experimenting with a 1-time pop-up message on Seattle Bubble encouraging readers to subscribe to Sound Housing Quarterly http://is.gd/7yxw4 #
- RT @calculatedrisk: NYTimes: More Homeowners Just Walk Away http://bit.ly/9nyKAA #
- Great interactive graphic from Bloomberg on the government's impending massive adjustment to job loss figures http://is.gd/7EjA2 #
- Another report predicts that Seattle-area rental vacancies will continue to rise & rents fall this year: http://is.gd/7HWnK #
- Heading for DOW 10,000… again… http://is.gd/7I5qw #
- State Dept. of Financial Institutions backs off on bill that would have kept bank troubles secret. http://is.gd/7IJUS #
- Calculated Risk again features @jillayne: Predatory Short Sale Negotiators http://is.gd/7Jbsv #
- Estately (@Estately) thinks big jump in MoM search traffic = big surge in 2010 home sales for Seattle:http://is.gd/7Je4S #
- Pierce County still spying on homeowners with aerial photos http://is.gd/7LW2l #
- PSBJ on Escala – Cost: $370 million. Units: 269. Sales: 6. http://is.gd/7LWrj #
- Cool interactive comparison of recessions and recoveries http://is.gd/7MjRa (via @zerohedge) #
- Will yet another WA bank fail on February's first bank failure Friday? Watch the FDIC's press release page to find out. http://is.gd/7MqfU #
- Looks like Washington escaped a bank failure Friday unscathed. No such luck for Minnesota. http://is.gd/7MRpS #
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I found both of Glenn Kelman’s bits interesting. I find it especially interesting that other agents are willing to listen and discuss now that the market is down and they are looking for new ways to relate to customers and grow their businesses. But I have to wonder how genuine the effort is, and whether everything will return to business as usual should real estate come roaring back.
http://seattletimes.nwsource.com/html/businesstechnology/2010953508_sterling02.html
Put a fork in it. Its done.
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Glenn Kelman, Redfin CEO: “people don’t trust agents..(The same is for many professions when someone profits off the sale from another) However, with the very low barriers to become an Agent I would say people do NOT RESPECT Agents/Realtors and the insanity of 6%). How could you TRUST anyone that profits so much from you doing something?
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Looks like Washington escaped a bank failure Friday unscathed..RPFG is next!
Zero Hedge: The Next Leg Of The Housing Crisis In Five Simple Charts**Nice Piece or rehash of what we have all been saying**
And there you have it: the best that the government can hope for is to **extend and pretend** So true.
The last 6 months of Stimulus was a GIFT for Sellers.
My favorite!
http://seekingalpha.com/article/178593-strategic-default-and-duty-to-shareholders