I’m still not really sure whether or not we’re in the midst of another housing bubble in the Seattle area, but here’s a strong sign that we might be: Local real estate cheerleader and permabull Matthew Gardner is loudly proclaiming that “No, it’s not a housing bubble.” No, we’re not in a housing bubble. Now […]
Everybody is talking about it, and it’s definitely going to have some kind of effect on the local economy in Seattle, so even though it’s a bit late, let’s talk about Amazon’s HQ2.
Unless you’ve been living under a rock, you’ve no doubt seen the news that Amazon is seeking to build a second headquarters somewhere “in North America” that “will be a full equal to our current campus in Seattle.” GeekWire has been covering the story extensively (including a data-based city analysis by yours truly), so if you need to catch up on the facts, head over there. For the discussion here, let’s focus on the possible impact this development will have on the Seattle-area real estate market.
The video is packed with quite a few obnoxious buzzwords (and some NSFW language) but I do appreciate the concept of this 352-square-foot home. It’s produced on an assembly line and can be “installed” in a wide variety of locations and configurations, plus it’s loaded with smart home tech and modular designs…
Redfin’s long-awaited IPO went well for the Seattle-based technology-powered real estate brokerage this morning. They priced the IPO at $15 per share last night, raising $138 million for the company. When shares started trading on the open market this morning under the ticker symbol RDFN they opened at $19.56.
It’s time once again for a reporting roundup, where you can read my wry commentary about the news instead of subjecting yourself to boring rehashes of the NWMLS press release (or in addition to, if that’s what floats your boat).
For a month that saw home prices shoot up to insane new all-time highs, the quotes from home salesmen in this month’s release are surprisingly calm.
I do want to address one glaring error in the release, though:
Seattle’s growing population is another likely factor. Recent U.S. Census Bureau data shows Seattle is gaining about 1,100 residents per week, an “astounding” figure, said MLS director Diedre Haines.
That number is false. The most recent data available shows a growth rate of less than half that level…
News broke late this afternoon that after 13 years as a “startup,” Redfin has finally filed their S-1 with the SEC, signalling their intent to make an initial public offering (IPO) later this year.
Let’s take this opportunity to directly compare some financial and usage data between Redfin and Zillow.
You’ve probably heard about the asinine legal threat that Zillow lawyers sent to the architecture criticism blog McMansion Hell (currently offline), a popular blog that provides entertaining and educational commentary and criticism of the scourge of the McMansion. If you’re in the dark, allow me to summarize the events of earlier this week, with some of my own speculation and opinion thrown in (indicated in italics below)…