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.

9 responses to “Cheapest Homes: April 2014 Edition”

  1. softwarengineer

    And the Best Location is Where You Bought One [or want to Buy One]

    IOWs, location is subjective….TOTALLY in the eye of the beholder.

    Hades, I think Tim’s Everett location beats packed central Seattle’s $300-800K condos or equivalent high rent apts [with extravagent HOA fees any day]…..at least Tim can park a car at his house….LOL

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  2. Scotsman

    I drive past the Cloverdale house when coming home from our boat. Trust me- its never looked better than it does in those pics. Pragmatism pretty much rules my life- not status, ego, or pride. And I would never consider living there. If that’s the third cheapest house in Seattle and it’s still priced at almost three times the median family income, then we have bigger problems. When half the families in a city can barely afford to purchase its worst housing, what does that say? Financialization, high taxes, stagnant incomes, cloaked inflation numbers, duplicitous government, etc. Interesting times ahead.

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  3. mike

    Anyone else here slightly mystified or offended by this years prices? $565K. sold year ago at $435K. I can’t imagine paying that much, but I’m not looking to buy either.

    http://www.redfin.com/WA/Seattle/8035-30th-Ave-NW-98117/home/163656

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  4. Blurtman

    RE: mike @ 3 – it’s darling and warm. Must have hired an ace stager for this flipper.

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  5. softwarengineer

    RE: mike @ 3

    Yes, “Mystified” is a Good Term to Describe Seattle Real Estate Since 1980

    Back then, home mortgage rates were like 12% and it took 100% of a good professional income just to buy the shack [you needed another income, so you could eat]….and that was $100K type prices. Just years before the Baby Boomers had no affordable homes in the Seattle area in 1980, the older Baby Boomers grabbed up the last of the $40K homes they could afford on one income, with like 8% mortgage interest. When the price doubled to like $80K and 12%, the grim reaper hit affordability. It really hasn’t gotten much better since.

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  6. wreckingbull

    RE: mike @ 3 – Ever since “Being John Malcovich” was released, these places are white-hot.

    http://filmesegames.com.br/wp-content/uploads/2013/11/being_john_malkovich-1.jpg

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  7. whatsmyname

    RE: Scotsman @ 2
    It’s a duplex.

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  8. Scotsman

    RE: whatsmyname @ 7 – I know, but a contrived one at that. Look at the parking situation. Just to the right of the picture is a steep bank up to the freeway. The skate park across the street is the best place to buy drugs. Sorry, I’ve looked at it. Duplex or not, just run away. There’s a reason it hasn’t sold. ‘Nuff said.

    Ok, maybe I’m too harsh. Or it’s the perspective I come from. I want to level and reseed my front lawn and hence was calculating the possible cost this morning. My front lawn for a not very fancy country house is about 17,000 square feet. That’s seven times the size of this lot. For $170K? Even if it generates $1400/mo in gross revenue-( less taxes, maintenance, lost rent, legal fees, and more headaches than a handful of Percocet will ever cure)- that’s not a deal.

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  9. goblue72

    RE: mike @ 3 – That’s one heck of a flip. I bought a year ago in Ravenna when rates were bottomed out (and even then had to stretch to do it) and if I was home shopping today I couldn’t afford the same neighborhood.

    The people with money these days (Amazonians, Microsofties, Fred Finchers, and others) want to live close to work – which these days is in the city.

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