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.

5 responses to “Foreclosures Still Shrinking Around Seattle”

  1. 3rd Generation

    Dear real estate professional (housecleaners and bus drivers apply),

    Does this mean It’s a Great Time to Buy ?

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  2. Matthew


    Have you covered in any of your posts recently “all cash” buyers in the Seattle area market? I saw some interesting data on Dr. Housing Bubble and Calculated Risk in regards to the percentage of all cash buyers in various markets. I’m not sure if the data is available or not for Seattle but it would be interesting to see how much of the inventory is being sucked up by all cash buyers (which tend to be investors). In SoCal last month it was 35% of all purchases and in the more speculative markets (Phoenix/Las Vegas) it was around 50% of all purchases. Even the Mid-Atlantic region was at 20%. It would be very interesting to see what the percentage is in the PNW.

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  3. Plymster

    RE: Matthew @ 2 – Yes. With all the recent speculation about low interest rates (particularly jumbo loans) helping prices soar to dizzying new heights, it would be interesting to know how many of the multiple bids in the area are losing to all cash offers, and how that stacks up historically, assuming the data is available.

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  4. David Losh

    RE: 3rd Generation @ 1

    You know, just because we have cash flow from one of the many businesses that I’ve owned, operated, sold, or consulted with doesn’t mean I’m stupid about Real Estate.

    I personally like Real Estate, and would probably buy outside of the United States. We just came back fro Merida Mexico It has some really nice houses that would be great projects, that would be of some interest to me if the price was right. I lie the idea of the hotel business, and have spent some time researching, and learning it. Some of those houses would be great for vacation rentals.

    We looked at Mexico City, but it is a very dangerous place. It’s the biggest city I have ever seen, and I’ve been a lot of places. There are some nice sections, that are over run by buyers, and players with much deeper pockets than mine.

    The United States is over run by some of the same very wealthy Real Estate buyers that are looking for a safe, appreciating market to invest profits. When you see the wealth that the global community has, like even in Mexico, you get a better sense that we’re just being toyed with here about our little home buying strategies.

    If you want to build a portfolio you certainly can, it would take time, and money. I would rather have a greater return, for much higher profits right now by providing jobs.

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