Equity Stompin' Comp Killers

[deejayoh]

I think this one has been posted on the site before, but there was another price drop.



Jul 12, 2006 $530,000 6.2%/yr
Mar 15, 2007 $780,000 77.5%/yr
On the market for $650,000

$130k haircut (17%) in 18 months.

edit: Sold For: $625,000 (12/03/2008)

It shows as a new listing but it really has been on the market for 6-8 months. I looked at it "pre-remodel" and passed at $525k in 2005. Looks like I might be able to go back and get the upgrades for free if I wait a bit longer!

[deejayoh]

Here's a steep haircut on a really nice property on Queen Anne

Sold for $1.23mm in 07/2007
Asking $1.11mm today, after being on the market 190 days
zestimate is $1.138
+10% off in a year on a very centrally located property

Edit: Sold For: $949,000 (11/25/2008)

[deejayoh]

Another one on Queen Anne

Sold for $1.8mm in 04/2007
Asking $1.7mm today, on the market 2 days
zestimate is $1.75mm

Edit: Sold For: $1,882,500 (02/20/2009)
+5% off in ~18 months - great view





Dropping values have definitely moved into both the central core, and the high end

[deejayoh]

oooh - 25% off in Madison Park, in just 12 months!!!

Sold for $1.35mm in 10/2007
Listed at $995k for 120 days (or for 54 days. Since it's listed twice...)
zestimate is $1.242mm

[ira s]

This one sold a couple of years ago for 540,000 dollars.
Current asking price is 309,000:

http://www.redfin.com/WA/Renton/1908-NE ... ome/410876

[Alan]

Hey! I put that house on my Redfin favorites, Ira.

My favorites list has been growing way to quickly the last few weeks. I think I'm going to have to be more selective about what I add to it.

[oberon]

This is a particularly nice one I've had my eye on. Large, contemporary, and one block from the waterfront; west Seattle is really not doing so well.

Sold in Aug 2006 for $1.17 million. Now listed for $839k!!! $331k haircut. Yikes.

http://www.redfin.com/WA/Seattle/6562-B ... ome/152977

[cheapseats]

Crazy! Someone needs out now!!!
Almost 400k off in 2 months,

http://www.redfin.com/WA/Bellevue/10044 ... ome/253189

Nov 19, 2008 Price Changed $580,000 -- NWMLS #28159166
Nov 06, 2008 Price Changed $590,000 -- NWMLS #28159166
Oct 29, 2008 Price Changed $595,000 -- NWMLS #28159166
Oct 23, 2008 Price Changed $620,000 -- NWMLS #28159166
Oct 20, 2008 Price Changed $640,000 -- NWMLS #28159166
Oct 13, 2008 Price Changed $650,000 -- NWMLS #28159166
Oct 09, 2008 Price Changed $680,000 -- NWMLS #28159166
Oct 07, 2008 Price Changed $690,000 -- NWMLS #28159166
Oct 06, 2008 Price Changed $750,000 -- NWMLS #28159166
Sep 24, 2008 Price Changed $850,000 -- NWMLS #28159166
Sep 17, 2008 Listed $950,000 -- NWMLS #28159166
May 29, 2007 Sold $750,000 12.3%/yr Public Records

[tomtom]

$220,000 in Ballard/Phinney Ridge:

http://www.redfin.com/WA/Seattle/6527-5 ... ome/496093

[tomtom]

Ooops.

3608 1st Ave NW

Property History

Dec 03, 2008 Listed $575,000
Oct 30, 2007 Sold $796,000 to Noland LLC
Nov 22, 2006 Sold $345,000
May 09, 1997 Sold $257,250

http://www.redfin.com/WA/Seattle/3608-1 ... ome/301911

Fremont Triplex in a great location! Nearby popular Center of the Universe amenities. Nice spaces - inlay hardwood floors, spacious living room, dining room and kitchen, two bedrooms, one bath on all three levels. Two car garage. Also planned and permitted for 4 Unit townhome project. A good investment!

http://www.nolandhomes.com/findyourhome ... d=8&pid=29

[tomtom]

Oh, hey. These guys are on a roll.

13823 Greenwood Ave N

Property History

Dec 03, 2008 Listed $599,950
Oct 09, 2007 Sold $900,000

http://www.redfin.com/WA/Seattle/13823- ... home/96315

Vacant Land in the heart of Broadview! Planned and permitted eight unit townhome site in a popular location. Other successful developments nearby. Nice 3 bed and 2.5 bath homes, that are well designed. A good investment for a future project.

http://www.nolandhomes.com/findyourhome ... =16&pid=28

[deejayoh]

2004 Pricing returns in Magnolia!

This place sold for $575k in 11/2004

On the market for 150 days so far, they just lowered the price to $585k so pretty much break-even to purchase price

From the comments: Great view of downtown when the leaves fall from trees! Will consider renting

http://www.redfin.com/WA/Seattle/2619-W ... ome/123539

Edit: This one is now listed at $499k

[deejayoh]

This one is the mother of all flops I have seen in Seattle. $345k loss (21%) in little under 2 years. And it was new construction in 2007




Property History for 2425 24th Ave W
Date Event Price Appreciation Source
Mar 20, 2009 Listed $1,295,000 -- NWMLS #29039085
Jul 12, 2007 Sold $1,640,000 108.0%/yr Public Records

[tomtom]

Ouch!

REO: Feb 09 was the foreclosure.

Apr 03, 2009 Listed $295,000 --
Feb 27, 2009 Sold $537,171 -6.8%/yr
Dec 08, 2006 Sold $627,500 10.4%/yr
Apr 30, 2001 Sold $360,000 11.6%/yr
Oct 31, 1994 Sold $175,950 --

http://www.redfin.com/WA/Seattle/132-NW ... ome/498150

[cheapseats]

Mercer Island auction April 4 9:30 $169k start

http://www.auction.com/property.php?auc ... gRemoved=0