Here’s an excerpt from an a Q&A with the then-president of the Thurston County Realtors Association Bill Hutchinson that appeared in The Olympian in February 2008 (now available only behind their archive paywall): Q: Given where the market is today compared with a couple of years ago, what would your advice be for sellers and…
Tag: Olympia
Olympia on the Economy: Liars, Fools, or Malefactors?
[Note: This is an opinion piece on a political matter. If that sort of thing offends you, it is recommended that you skip this post.] Christine Gregoire, January 2008: “The only thing we have to fear is fear itself,” Gregoire said, quoting former President Franklin Roosevelt and referring to national recession fears. “It is a…
State’s Chief Economist: Real Estate to Rebound… in 2011
Washington State’s Chief Economist Arun Raha has been speaking this week about his expectations for Washington’s economy in 2010 and beyond, including his outlook for the local real estate market. Raha said the nation’s big banks are in better shape and are mostly back to normal in terms of lending money to customers with good…
Failed / Stalled Mixed-Use Developments Around the Sound
From today’s Olympian: Housing project in foreclosure Thurston Highlands, one of the largest proposed mixed-use developments in the state, has emerged as the biggest example of how the economic crisis has had a corrosive effect on development. Through its trustee, the project’s primary lender, Frontier Bank, has started foreclosure proceedings on the 1,250-acre property after…
Plummetting Real Estate Excise Tax Revenue Drags on City, State
According to a pair of reports released yesterday, the real estate slowdown is still a serious drag on state and local revenues, thanks to significant sagging in real estate excise tax collections. From the latest state revenue collection report (pdf): Collections [for the March 11, 2009 – April 10, 2009 collection period] were $8.7 million…