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.

5 responses to “NWMLS: Sales Inch Up, Prices Climb Again”

  1. Jonness

    Nice write-up Tim. The economy is continuing to heat up.

    Rate this comment: Thumb up 0

  2. Christian Wathne

    Thanks for the post, these are very informative.

    I’ve been trying to buy another house for the last couple months and have not yet had success. I feel like homes in average condition (which is pretty bad) are selling for what they should sell for after being renovated. I’m not finding properties where there’s available money to be made. I’m ready to sell my capitol hill condo, but I wont sell until I can find another place.

    I put in an offer of almost 5% over ask with 25% down on a rambler in bellevue last week and was beat out by a couple of higher offers. Its a tough time to be a buyer.

    Rate this comment: Thumb up 0

  3. Lo Ball Jones

    I have seen the future of housing…and it’s not King County (not yet).

    LGI Homes is doing it right! They are conquering the rental market in many cities (not here) but offering single family starter homes at incredible prices (some as low as $120,000).

    Even better, they sell at no money down, and payments from $750 to $1100.

    Starter Homes in Demand With Builder LGI Shares Soaring
    http://www.bloomberg.com/news/2014-06-25/starter-homes-in-demand-with-builder-lgi-shares-soaring.html

    Cheryl Pate-Yow rushed to LGI Homes Inc. (LGIH)’s sales office south of Houston the day after receiving a mailer that said she could own a new home for $689 a month, only $24 more than rent on her one-bedroom apartment.

    “I’m sick and tired of renting and my money goes nowhere,” Pate-Yow, a 46-year-old former chef, said during a visit to LGI’s Hall Park community showroom. “I didn’t think I could afford to own, but I got this flier in the mail.”

    LGI, an entry-level Texas builder that has moved into six more states, is demonstrating that the U.S. housing crash didn’t diminish the desire for homeownership. The company’s strategy of luring renters with low-cost houses and assisting them with getting mortgages has spurred record sales and made LGI the top-rated builder among analysts. It’s also attracting competition as D.R. Horton Inc. (DHI), the largest in the industry, starts a brand aimed at first-time buyers with prices starting at $120,000.

    Isn’t this what we really want?

    Easy to buy.
    Prices as low as rent.

    By, and by ….

    Rate this comment: Thumb up 2

  4. Erik

    I think inventory will be lower next month compared to last year. That will be a milestone.

    Good job on your project Christian. I lost my job, so I put my money in the stock market and haven’t made anything yet.

    Rate this comment: Thumb up 1

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