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.

12 responses to “Cheapest Homes: December 2012 Edition”

  1. ARDELL

    RE: The Tim @ 1

    That’s a pretty high fever to have “all day”! Do please see a doctor and keep us posted. Hope you feel better soon.

    Rate this comment: Thumb up 0

  2. sniffy

    I’ve lived in Seattle for more than a decade now, but sometimes I still look at stuff like this and just find it absolutely *bizarre* that there are only 34 homes in all of Seattle less than $200k. In Dallas (where I previously lived, admittedly a little larger than Seattle) there are currently 918, many of which are quite nice, recent construction, and in the 2,000-3,000 sqft. range.

    Sometimes I can’t believe I choose to live here.

    Rate this comment: Thumb up 0

  3. ray pepper

    RE: The Tim @ 1 – its quite possible you contracted scrotal elephantitis with your High Fever…see pic: http://elephantiasis.freeyellow.com/eleph-fiji.gif ….. if this looks like you listen to nurse ray and consult your physician..

    Rate this comment: Thumb up 0

  4. Kary L. Krismer

    RE: sniffy @ 3 – Add in the real property tax paid each month to your houses down in Texas, and see how the monthly payment would compare on a $150,000 house down there to a $200,000 house up here. There’s a reason houses are cheaper in Texas, even with their relatively good economy. Real property taxes are very high.

    Rate this comment: Thumb up 0

  5. softwarengineer

    RE: The Tim @ 1

    They Say Get the Flu Shot

    The medical establishment I do volunteer work for disagree, the vaccine they give you now are for the flu virus that is dying out. IOWs, it does little good anyway. Many of the vaccine shots contain heavy elements that are dangerous too.

    The new flu strain(s) mainly hitting us this winter have no vaccine yet.

    I like asperine FAR better than tylenol or motrine too for fighting fever….much safer historical evidence [like decades], especially liver damage, etc, etc.

    Rate this comment: Thumb up 0

  6. softwarengineer

    RE: Kary L. Krismer @ 5

    The Hot Summers With Mandatory Air Conditioning in Texas Will Drain Ya Dry Too

    I have heard there are more job opportunities down there though, like off shore oil jobs.

    Rate this comment: Thumb up 0

  7. softwarengineer

    RE: sniffy @ 3

    I Agree With Sniffy On the Size Comparison

    Seattle-ites live in small shacks on dinky lots in comparison….most of the midwest this comparison is true too.

    Rate this comment: Thumb up 0

  8. sniffy

    RE: Kary L. Krismer @ 5 – But a $150k house in Dallas isn’t comparable to a $200k house in Seattle. It would have be much closer to $300k here, quite possibly more.

    So you pay twice as much here for the house, and let’s say even three times (that’s a bit high) as much property tax in Dallas. So on that $150k house in Dallas you pay $3,750 a year. And on the $300k house in Seattle you pay $2,500. That $1250 ‘savings’ covers less than a quarter of the interest on the additional mortgage amount.

    Yes, there are reasons real estate is cheaper down there, but it’s not primarily because of property tax.

    Rate this comment: Thumb up 0

  9. Kary L. Krismer

    RE: sniffy @ 9 – It depends on how you look at it. I’m looking at the taxes as being a restriction on prices rising over the longer term.

    Assuming they don’t have our tax system such that general inflation in prices would increase taxes, then if that $150,000 house down there rose over time to $300,000, it would have taxes that would be over $7,500 by your analysis. The high taxes keep the values from rising, because that would be over $5,000 more a year in taxes than up here, and it’s the principal, interest and taxes that people look at when deciding whether they can buy a house.

    The way you’re looking at it is you’re saying the taxes aren’t that bad compared to a house priced twice as much up here. That’s true, but I’m saying it’s that way largely because of the taxes. Clearly other factors could be at play too. I haven’t been outside of the airport at Dallas, but assuming it’s like Phoenix, they might have more room to build houses down there than us. That too would keep prices lower.

    Rate this comment: Thumb up 0

  10. wreckingbull

    RE: softwarengineer @ 7 – That is a good point, softie. I have a friend in Austin and his monthly electric bill is $700-$800 during the summer months for a fairly modest home.

    Rate this comment: Thumb up 0

  11. chuck c

    For perspective: my buddy in Wisconsin just bought a small house for $10,000 to rent out (that’s right, only 4 zeros). He’s expecting to put another 5-10k into it and rent it for about $500/month. I’m curious learn more about his transaction as time progresses.

    Rate this comment: Thumb up 0

Leave a Reply

Do you want a nifty avatar picture next to your name, instead of a photograph of Tim's dog? Just sign up with Gravatar, and make sure to use the same email address in the form below. It's that easy!

Please read the rules before posting a comment.

You have 5 comments remaining on this post.

Archives

Find us on Google+