a new record: 100 listings for East Bellevue (98008)
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sniglet
Bubble Banter Boss
Joined: Thu Feb 22, 2007 2:58 pm
Posts: 680
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 Re: a new record: 100 listings for East Bellevue (98008) The inventory has actually been dropping in 98008 recently. We are now back at 177 listings according to ZipRealty.
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| Wed Sep 03, 2008 12:08 pm |
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sniglet
Bubble Banter Boss
Joined: Thu Feb 22, 2007 2:58 pm
Posts: 680
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Re: a new record: 100 listings for East Bellevue (98008) Inventory continues to drop in 98008. We are at 170 listings on ZipRealty today. Maybe more houses are starting to sell...
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| Thu Sep 18, 2008 8:45 pm |
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Markor
Bubble Banter Boss
Joined: Sun Jun 17, 2007 11:04 pm
Posts: 621
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Re: a new record: 100 listings for East Bellevue (98008) If only we could tell if they are selling without waiting for a couple months after they drop off the MLS. It seems that the data that feeds the search engines no longer includes STIs.
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| Thu Sep 18, 2008 10:19 pm |
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Lake Hills Renter
Bubble Banter Boss
Joined: Sun Feb 18, 2007 9:13 pm
Posts: 570
Location: Bellevue
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Re: a new record: 100 listings for East Bellevue (98008) I'm seeing nothing sell at all in the part of 98008 I frequent. A few signs have dropped off, but I'm not seeing anyone move in.
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| Fri Sep 19, 2008 1:46 pm |
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Markor
Bubble Banter Boss
Joined: Sun Jun 17, 2007 11:04 pm
Posts: 621
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Re: a new record: 100 listings for East Bellevue (98008) MLS #28158397 is one that dropped off a month ago, at $380K. Now it's back, at $385K.
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| Sun Sep 21, 2008 11:20 am |
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sniglet
Bubble Banter Boss
Joined: Thu Feb 22, 2007 2:58 pm
Posts: 680
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Re: a new record: 100 listings for East Bellevue (98008) The decline in listings for 98008 continues. Today we hit 168 listings for 98008. Properties must be selling like hot cakes...
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| Thu Oct 02, 2008 12:56 pm |
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Timber
Bubble Watcher
Joined: Tue Sep 09, 2008 6:34 am
Posts: 14
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Re: a new record: 100 listings for East Bellevue (98008) I think sellers are starting to hold their breathe and are waiting to see whats next. No one seems to be buying and sellers don't want to lower prices tens of thousands of dollars because maybe some miracle happens and the bailout fixes everything. Like other people have been saying the pressure is building and eventually people are going to realize that Seattle won't be spared and the bailout isn't going to save us. Then the inventory will go back up and prices will start dropping even faster.
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| Thu Oct 02, 2008 2:57 pm |
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sniglet
Bubble Banter Boss
Joined: Thu Feb 22, 2007 2:58 pm
Posts: 680
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Re: a new record: 100 listings for East Bellevue (98008) We are at 153 listings on ZipRealty for 98008 today. Inventory is definitely declining for the winter.
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| Fri Nov 21, 2008 1:32 pm |
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FreedomLover
Bubble Blatherer
Joined: Tue Apr 22, 2008 2:02 pm
Posts: 68
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Re: a new record: 100 listings for East Bellevue (98008) sniglet wrote: We are at 153 listings on ZipRealty for 98008 today. Inventory is definitely declining for the winter. 153 is a lot. Buyer's market.
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| Fri Nov 21, 2008 1:39 pm |
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sniglet
Bubble Banter Boss
Joined: Thu Feb 22, 2007 2:58 pm
Posts: 680
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Re: a new record: 100 listings for East Bellevue (98008) FreedomLover wrote: 153 is a lot. Buyer's market. We are only some 30 listings or so more than where we were in mid-November last year (look at the earlier posts in this thread). Sure, it's higher than normal but not hugely greater than last year.
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| Fri Nov 21, 2008 6:37 pm |
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faster
Bubble Blatherer
Joined: Tue May 22, 2007 4:09 pm
Posts: 113
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Re: a new record: 100 listings for East Bellevue (98008) sniglet wrote: FreedomLover wrote: 153 is a lot. Buyer's market. We are only some 30 listings or so more than where we were in mid-November last year (look at the earlier posts in this thread). Sure, it's higher than normal but not hugely greater than last year. What percentage change in the number of houses for sale would you consider an indicator of a buyer's market?
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| Mon Nov 24, 2008 7:35 am |
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deejayoh
Bubble Banter Boss
Joined: Mon Feb 26, 2007 12:14 pm
Posts: 1166
Location: Capitol Hill
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Re: a new record: 100 listings for East Bellevue (98008) faster wrote: sniglet wrote: FreedomLover wrote: 153 is a lot. Buyer's market. We are only some 30 listings or so more than where we were in mid-November last year (look at the earlier posts in this thread). Sure, it's higher than normal but not hugely greater than last year. What percentage change in the number of houses for sale would you consider an indicator of a buyer's market? So if last year's inventory was a record, how much higher do you realistically expect it can or will go? I remember back in the spring when people were predicting KC SFH inventory would go over 20k units. Things like that are just not going to happen - 50% increases on levels that are already 2x the norm. I wouldn't call this a "buyer's market" right now - simply because if you buy now you are still looking at more losses - but I certainly wouldn't call it a sellers market!
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| Mon Nov 24, 2008 8:27 am |
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sniglet
Bubble Banter Boss
Joined: Thu Feb 22, 2007 2:58 pm
Posts: 680
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Re: a new record: 100 listings for East Bellevue (98008) deejayoh wrote: So if last year's inventory was a record, how much higher do you realistically expect it can or will go? I agree that there is likely some sort of limit as to how much the inventory will grow, even if the market continues to deteroriate. At some point many potential sellers will simply decide to not even put their homes on the market since they are unwilling to accept the market prices. A similar phenomena happened in the great depression, when sales just ground to a halt. That said, the proportion of inventory which is "distressed" is likely to continue growing for quite some time. We will likely see REOs and short sale listings take up an ever bigger proportion of the over-all inventory (and sales). I think we will see foreclosures really pick up over the next couple years, and easily constitute 40% or 50% of all inventory.
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| Mon Nov 24, 2008 9:48 am |
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sniglet
Bubble Banter Boss
Joined: Thu Feb 22, 2007 2:58 pm
Posts: 680
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Re: a new record: 100 listings for East Bellevue (98008) The number of listings in 98008 took a dive in the new year. We are sitting at 128 listings for 98008 as of January 5th. Through the end of December we were in the 140 to 150 range, but a number of listings must have expired right at the end of the month.
Anecdotally, I notice that for sale signs have disappeared on some homes in our area which have been listed for a year or more, yet no one seems to have moved in and the properties appear to be vacant. My guess is that the owners have just decided to temporarily pull them off the market to re-list in the spring.
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| Mon Jan 05, 2009 9:19 am |
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rose-colored-coolaid
Bubble Banter Boss
Joined: Mon Jun 18, 2007 10:26 am
Posts: 1978
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Re: a new record: 100 listings for East Bellevue (98008) sniglet wrote: My guess is that the owners have just decided to temporarily pull them off the market to re-list in the spring. I think a lot of people don't realize that Redfin tracks those as the total number of days on market. I get it if someone just wants a month off from worrying about it, but if they are looking for a stat reset, they need to find a new realtor who is familiar with all the tools buyers now have. In my experience, many realtors don't seem aware of all these new tools.
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| Tue Jan 06, 2009 10:41 pm |
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