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 Monuments to the Late Great Housing Bubble 
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tomtom
Bubble Blatherer

Joined: Wed Apr 09, 2008 1:31 pm
Posts: 103
Post Re: Monuments to the Late Great Housing Bubble
Take a half million dollar house in a half million dollar neighborhood, scrape it and build a $1.5 million replacement.

http://www.redfin.com/WA/Seattle/3729-D ... ome/120051

Image
Mon Jul 13, 2009 11:02 am
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deejayoh
Bubble Banter Boss

Joined: Mon Feb 26, 2007 12:14 pm
Posts: 1166
Location: Capitol Hill
Post Re: Monuments to the Late Great Housing Bubble
why only one picture in that listing? seems ridiculous
Mon Jul 13, 2009 11:21 am
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Markor
Bubble Banter Boss

Joined: Sun Jun 17, 2007 11:04 pm
Posts: 621
Post Re: Monuments to the Late Great Housing Bubble
For that much, I'd rather not have to carry groceries in the rain. Yeah, only one pic seems bad marketing.
Mon Jul 13, 2009 3:11 pm
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Lake Hills Renter
Bubble Banter Boss

Joined: Sun Feb 18, 2007 9:13 pm
Posts: 570
Location: Bellevue
Post Re: Monuments to the Late Great Housing Bubble
There's probably an 8 car garage on the other side of the house.
Mon Jul 13, 2009 3:15 pm
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The Tim
Bubble Blogging Buffoon

Joined: Sat Feb 17, 2007 6:02 pm
Posts: 827
Location: Kenmore, WA
Post Re: Monuments to the Late Great Housing Bubble
The Tim wrote:
I'll get things started.

22325 NE Old Woodinville Duvall Rd Woodinville, WA 98077
Image

14 acres, 7,700 square feet. Empty land purchased in 2005 for $315,000, this beast was plopped on there in 2006. Cumulative days on market currently shows 708 days, with the most recent listing coming on at $2 million in November, dropping down to $1.5 million now.

Looks to have never been lived in. Seems like it's most likely a spec built home where the builder probably priced it too high in '06 or '07 when it first hit the market.

Another big price drop on this beast. 16% more off, down to $1.25 million. Approaching 40% off the original wishful thinking list price. Ouchie.

_________________
For great justice.

Sun Sep 13, 2009 10:44 am
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The Tim
Bubble Blogging Buffoon

Joined: Sat Feb 17, 2007 6:02 pm
Posts: 827
Location: Kenmore, WA
Post Re: Monuments to the Late Great Housing Bubble
The Tim wrote:
Here's another great one practically in my backyard.

8122 NE 190 St Kenmore, WA 98028
Image

0.8 acres, 6,800 square feet. Property bought in December 2003 for $620,000. From the listing description:

Quote:
Blank canvas ready to make your own! Drywall is complete and ready for final finishes. This home is being sold in it's current state with all permits current and ready to go. Bring your designer and create the home of your dreams!

Sweet, so for a cool $1.4 million, I get an unfinished house right next to the street with the Kenmore portal of the Brightwater sewage treatment project as my backyard.

First price drop September 23rd, down 10% to $1.25 million. I also notice they've added quite a few pictures since I last looked at the listing. Interestingly, almost 100% exterior pictures. Heh.

I get this feeling that the owners of this one don't have much room to go lower. And I'm pretty sure there won't be any interest in a million-plus house with Brightwater Portal as the back yard. This one could definitely get interesting.

_________________
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Thu Sep 24, 2009 6:26 am
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