Posted by: 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.

7 responses to “Cheapest Homes: September 2012 Edition”

  1. softwarengineer

    Cheap Home Inventory On the Rise in the Seattle Area

    This anomaly doesn’t surprise me at all. Same thing is happenning with used cars in this Repression. People aren’t buying new cars [new houses] so the low inventory of used ones snap up insanely high prices.

    Yet, the inventory of auction dealer stock is rising and for “cheap prices” too…..believe me, I’ve been at auto auctions and the buyers bidding against me were miniscule. Its probably a haughty “Seattle Latte Thing”…..God forbid we buy on the cheap [after all, its all just junk anyway]. Keep it up, it brings my prices down [BTW, my auction purchases have been wonderful "cheap" clean rigs that last forever].

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  2. Scotsman

    First one looks good- I’d live there. Gotta love a home where you can just write a check for it. People are too picky and place too much importance on stuff that really doesn’t matter. Buy one of the first two on a 3% FHA and have your own place. Fix it up the way you want it. Maybe you’ll get lucky and its’ value will go up in a recovering economy. If not, just walk away when it all goes to he!!.

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  3. ChrisM

    Huh? Public remarks say — “All 3 propeties must sell together.” for 8826. Is that allowed?

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  4. ChrisM

    Also, 7702 is “cash only” – seems like that should be excluded since you’re skipping fixers. Or is this a case where the seller is confident of easily getting a buyer & not wanting the financing delays?

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  5. Kary L. Krismer

    By ChrisM @ 3:

    Huh? Public remarks say — “All 3 propeties must sell together.” for 8826. Is that allowed?

    I don’t know why it wouldn’t be. If you want to sell three properties you could make that be one transaction if you wanted.

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  6. ChrisM

    RE: Kary L. Krismer @ 5 – I guess my issue is, as a buyer, if I see a property on the MLS, I expect it to be available for purchase, and to be accurately described.

    In fairness, I can see the problem – I expect the MLS doesn’t have the ability to “bundle” properties. But this (to my amateur opinion) seems like a deceptive listing – that really isn’t a 3BR1BA for 85, instead more like a triplex – (guessing here – 9-3 for 300k).

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    RE: ChrisM @ 6

    If all three houses were on one lot that wasn’t subdivided, that would be the case. These each have their own separate lot and tax ID number, so the bundling is not a legal classification and merely a seller preference.

    That means each person can in fact buy only one, as long as they close at the same time and the buyer of the first one doesn’t mind waiting for the other two to have buyers come forward.

    Three different people can buy them…on the same day…so that the seller can still complete his 1031 exchange to a new purchase based on the sale of all three.

    It doesn’t say all three have to be sold to the same buyer…only that all three have to sell (to one or more buyers) at the same time.

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