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.

2 responses to “Cheapest Homes: May 2012 Edition”

  1. Scotsman

    So nobody wants a 2/1 even if it’s cheap? The cheap homes that did sell all seem to offer more, proving that the market isn’t completely stupid. Final observation is that the bottom of the Seattle market seems to be hanging in there at right at $100K. Would these been seen as a deal at $85K or does that buyer then look in Covington, Tacoma, Kent, etc for more house for the same money?

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  2. Kary L. Krismer

    By Scotsman @ 1:

    So nobody wants a 2/1 even if it’s cheap?

    Not many do. 1.75+ bath homes are now priced where 1 bathroom homes were priced a few years ago, so more people elect to pay more than to compromise.

    Note I just said in another thread that it’s a rookie flipper mistake to buy a 1.5 bath home to flip. It really limits your market and your potential upside, making it harder to profit.

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