Seattle Bubble Forum Archive

by **EconE** » Mon Jul 14, 2008 1:56 pm

Jim N...

regarding that condo...

The owners of that were profiled on the local news about a year ago as people who successfully rode the housing boom wave to a "Million Dollar Condo".

They also own property in AZ.

ooops.

by **rose-colored-coolaid** » Mon Jul 14, 2008 2:50 pm

by **Ubersalad** » Mon Jul 14, 2008 3:32 pm

by **Alan** » Thu Jul 17, 2008 4:42 pm

by **rose-colored-coolaid** » Sat Jul 26, 2008 1:49 pm

Getting trickier to say all the time, but let's do a few updates.

Let's see, congress passed their bailout. Last time I explained how the pending bailout would force expectations of government intervention to a realistic state. Well, we're closer than ever now. Congress passed their bill, they can advertise how much they've helped on TV commercials this fall, which means they are done. That's right, you won't see any more government intervention unless this lags on another 2 years.

So, is this the bottom? No!

The more people dig into it, the more they will realize this bill will have little effect on the picture at large, but may help some current owners. Details are still getting nailed down, but here's a few I've noticed. $7,500 for first time buyers. Uh...yeah, that 2% off the top is going to prevent 30% declines...what? The bill seems to stipulate that conforming loans must produce payments no greater than 31% of gross income. Uh Oh! If Freddie/Fannie are the only lenders still operating, and they require this...what do you imagine it will do to loan availability?!?

by **Ubersalad** » Mon Jul 28, 2008 4:59 pm

Dude RCG, you did this one prematurely!

Suppose to do it on MONDAY!

by **rose-colored-coolaid** » Tue Jul 29, 2008 11:03 am

Uh...Monday yesterday or Monday next week? I'm so confused!

by **Ubersalad** » Tue Jul 29, 2008 12:14 pm

by **rose-colored-coolaid** » Tue Jul 29, 2008 2:10 pm

by **biliruben** » Wed Jul 30, 2008 5:37 am

But, but...

...my cursor is been hovering over the "BUY NOW" button on Redfin for months now, as I madly refresh this thread over and over again in another window. I even set it up as a 1-click shopping experience to make sure I was the first one in line when we hit bottom.

Within a fortnight!?! How is that gonna help me?

by **Alan** » Mon Sep 08, 2008 1:15 pm

Is this the bottom?

http://www.redfin.com/WA/Renton/3905-NE ... ome/241442
3905 NE 6 St
Renton, WA 98056
Sq. Ft.: 2,440
Price: $269,000
$/Sq. Ft.: $110

Pre-foreclosure! Open floor plan featuring 5bd/2ba, large living room, dining area, fireplace, hardwood floors, vaulted ceilings and much more. Huge yard and deck would be great for entertaining, Lower level has an additional full size kitchen with separate entry that would be great for an extended family or potential rental income.

by **rose-colored-coolaid** » Mon Sep 08, 2008 2:50 pm

by **siddha99** » Tue Sep 09, 2008 3:34 am

by **Timber** » Tue Sep 09, 2008 6:57 am

by **rose-colored-coolaid** » Thu Sep 18, 2008 7:27 pm

So...panic this week. Just in case anyone was confused by what that means, this week is not the bottom.

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