Housing Bubble 2.0: The Perma-Bears Respond

Ben Jones, who has been blogging about the housing bubble from down in Arizona since late 2004 at The Housing Bubble Blog linked to my “Welcome to Housing Bubble 2.0” post yesterday, prompting an interesting discussion in the comments. Here’s a selection from the conversation that ensued: Comment by Ben Jones I’ve called this the […]

Welcome to Housing Bubble 2.0

With home prices nearing their 2007 peak levels in the Seattle area (and no doubt exceeding them in some neighborhoods), I thought it would be good to step back from the monthly stats and take a big picture look at what’s going on in the housing market.

To answer the question of whether or not we are in another bubble, let’s compare and contrast the present frenzy to what the housing market went through during the Great Housing Bubble…

Turning Listing Deception Up To Eleven

A sharp-eyed reader sent in the listing at 13909 129th Place NE in Kirkland. Here’s the Google street view: Note the house to the left, and the relatively small front yard. Now take a look at the primary listing photo for this house, being sold by Jon Cacabelos of Real Home Network: What. The. Hell. […]

Friday Flashback: “It’s no wonder people are confused.”

Today’s Flashback comes from March 2008: Area’s housing isn’t doom and gloom, experts say

Area real estate professionals and politicians want to clear something up.

Now is a good time to buy and sell real estate in Snohomish County, no matter what people may be hearing about the national market.

The panel of industry experts held a town hall meeting in Lynn­wood on Thursday for that purpose that drew about 200 people.

Cheapest Homes: February 2015 Edition

Cheapest Homes: February 2015 Edition

Let’s check in again on the cheapest homes around Seattle proper. Here’s our methodology: I search the listings for the cheapest homes currently on the market, excluding short sales, in the city of Seattle proper. Any properties that are in obvious states of extreme disrepair based on listing photos and descriptions will be excluded. This […]

The Shadow Inventory Myth is Dead

A little over a year ago, I wrote a series of posts in which I argued that “shadow inventory” (foreclosed homes held off the market by the banks) was nearly non-existent. "Shadow Inventory" Conspiracy Theories Are Nonsense Shadow Inventory Gut Feelings, Rumors, & Anecdotes Undocumented Shadow Inventory Scarce in King County Despite all of the […]

How-To: Turn a 1,475 sqft Lot Into a Half-Million-Dollar Home

How-To: Turn a 1,475 sqft Lot Into a Half-Million-Dollar Home

This was spotted by a user over on Reddit’s /r/Seattle. The images below are of 3941 South Brandon Street on Google Street View. 2008: Empty 1,475 square foot lot. 2011: Foundation 2014: 1,687 sqft, 3-bed, 2.5-bath modern home The resulting home sold last June for just under half a million dollars. Here’s the listing description: […]