Seattle Bubble Forum Archive

Mesh,

I'd like to understand where some of these are showing as sold? A couple of them are showing sold, but some are still showing as pending.

First # is Asking, second is sold, third is Zestimate(tm):

7743 18th Ave NW 459,000 453,000 513,844
7538 31st NW 625,000 630,000 541,518
8315 16th Ave NW 550,000 550,000 550,658
6720 33rd Ave NW 399,950 399,950 411,922
7317 23rd Ave NW 524,950 560,500 538,444
7722 29th Ave NW 379,950 385,000 431,518

Just for kicks.

Here's a great investment. $340K for a section-8 rental that generates a whopping $1300/month in income.

Just interest and taxes on this unit would be $1900/month. Remodeled 2 years ago, and it's already listed as a "fixer". Safe to say that you'll be shelling out for repairs in addition to the -$600/month cash flow.

Someone jump on this quick. It won't last!

Here's odd one. Bought in 8/2005 for 410K, now pending at $454K.

That's under 11% appreciation in 22 months. Is that even possible in 98103, even if you trash the place?

The only thing I can figure is that during the feeding frenzy of 2005 people were seriously overbidding some properties.

http://www.redfin.com/stingray/do/print ... -id=717136


Edit: it looks like this one sold at trustee sale for $382K, then was listed on the market at $454 - so although it's a foreclosure, the price will be used in comps. Suckers. How the heck did they manage to get forclosed on with 11% appreciation?

When it's foreclosed the lender is trying to recoup as much money as possible, so it's not up to the person who was foreclosed on.