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…
Tag: overvalued
Strategies for Finding the Best Value in Today’s Market
Last week we asked the question: How do you find properties that are the best value in today’s market? Following are the highlights of that discussion. MEDIC focuses on tax assessments and prior sales, using a combination of county records websites (directory here) and Redfin. For MEDIC, “a good price… is at least 40-50% off…
“The housing market is slightly undervalued” (except in Seattle)
A recent report on the housing market across the country from Global Insight and National City contains some interesting bits that are worth noting: Extreme overvaluation is now essentially nonexistent. … For the country as a whole, the housing market is slightly undervalued. … Only the Pacific Northwest remains overvalued across a wide region. Their…
Seattle Times: “Sellers are Growing Desperate”
An article in today’s Seattle Times goes nicely with Mr. Cohen’s article in the P-I a couple days ago. More sellers are growing desperate as homebuying stalls locally I especially like the first part of the subtitle text (emphasis mine): The Puget Sound area housing market, supposedly immune to the forces pulling down others across…
House Valuation Workshop
Does the drop in home prices we have seen so far make the current real estate market affordable? Do prices that have dropped ten percent represent a great buying opportunity? Long-time Seattle Bubble regular Eleua takes on these questions and more with his “House Valuation Workshop,” using his native Bainbridge Island as a working example….