An inflated starter home in White Center (courtesy of Erik)

[Puget Sounder]

Erik brought this to my attention in the weekend's Open Thread -- I thought I'd bring this over to the forums:

http://www.redfin.com/stingray/do/print ... -id=350644

MLS number: 27005818

Less than 700 square feet (a standalone house) and somehow has 2 bedrooms and one bathroom. For $309k. $460/square foot, nowhere near Belltown, Queen Anne Hill, or even Ballard!

The neighborhood is West Seattle's border with White Center. A gentrifying neighborhood at best -- at worst, a 'hood.

Interesting note: there is a Subaru B9 Tribeca SUV parked in the driveway. Don't know if that's the realtor's car or the homeowners, but I'm willing to bet that it's $35k out the door, probably not completely paid for either.

This sort of asking price mystifies me. Who would buy such a home for such a significant (for what it is!) cash outlay?

And no, I don't think anyone is going to tear this home down and build a McMansion in White Center.

[downpayment]

Notice this:

Title says "New Price" - How many think this will become new "Buy Line" over the next 12 months or so.........

http://seattle.craigslist.org/tac/rfs/280911269.html

[S-Crow]

[Puget Sounder]

[Erik]

I laughed out loud when I first saw the listing. There was no way that place would sell at that price. Well, it turns out I was right. If I remember correctly, they had to drop the price from $315,000 to $309,000. Well okay then. That's much better.

I can no longer understand anything about this market.