Analyze a “Below-Market” Deal: Conclusion

by Flickr user woodleywonderworks The perpetual motto of real estate salespeople that “it’s a great time to buy” is still a load of nonsense. It’s only a great time to buy when your personal finances, your stage in life, and the right home at the right price all come together at the same time. Granted, […]

Analyze a “Below-Market” Deal: Historic Pricing

Our final method for determining whether or not a home is a good deal is to compare the current asking price to the historic sale prices of the same home during pre-bubble years. The simplest method is to find the oldest sale record available for the home and compare the total percentage gain from that […]

Analyze a “Below-Market” Deal: Nearby Rents

Unfortunately when you’re looking at single-family homes, it can be difficult to get an accurate read on what people in the neighborhood are currently paying in rent. However, studying asking rents in the rental section of Craigslist is the next best thing, and it is definitely better than nothing. photo by The Tim Do a […]

Analyze a “Below-Market” Deal: Comparable Sales

The art of analyzing a home’s “comps”—once the exclusive domain of real estate agents and appraisers—is now open to everyone thanks to sites like Zillow and Redfin that display detailed data on sold homes. The basic process is simple: Make a list of recently sold (within the last 3 months, ideally) homes similar to the […]

How To: Analyze a “Below-Market” Deal

I personally believe that a reasonable analysis of the local economic fundamentals points to another ten to fifteen percent decline in Seattle-area home prices. However, I also believe that barring a major economic catastrophe that slashes wages and dramatically increases unemployment, buying in today’s market can be a good move if you can find a […]

How-To: Find Bank-Owned Homes

I received a few questions in the comments and via email last week about how to find bank-owned homes, so I thought I’d put together a little guide. For the purposes of this post, we’ll consider foreclosures in three stages: Pre-Foreclosure, Unlisted Bank-Owned, and On-Market Bank-Owned. Pre-Foreclosure A home in pre-foreclosure is one where the […]

Guided Tour: King County’s New Online Property Records

If you’re like me and you tend to do a lot of public records searches when you’re researching properties, you have probably noticed that King County has given their online property records a big face lift. As far as I can tell all the same information is available as before, plus a few new bonuses […]