At least it was still worth buying at slightly inflated prices in 2004
Seriously though, it seems like prices are going to come back well below 2006 levels (without even considering inflation) and I'd only be a little surprised if they move below 2005 or even 2004 levels.
I thought I recognized this one -- it's on my commute to work. It's on the corner of 164th Ave and 20th St (aka Northup), a very busy intersection. There's also a hideous yellow-stuccod cinderblock wall that's conveniently left out of the photos that acts as somewhat of a sound barrier, but it's also been hit 3 times in the 4+ years I've been driving by, and the last time it wasn't completely fixed. The people who bought that place must have been completely delusional, because that location is absolutely terrible, very noisy with traffic at all hours, and what little yard they have is very cramped behind a hideous yellow cinderblock car magnet. I will be surprised it sells for half of what they are asking.
- Many folks who purchased an Eastside SFH during/after 2006 are underwater.
-Even with these lower-than-2006 prices, many homes are still expensive if you take the long-term appreciation rates into account
-It's been hard to find condos/townhomes that are underwater from the 2006 prices
-Moral of the story for current homebuyers on the eastside: Don't buy a home on the Eastside now. But if you have to, don't pay more than comparable sales in 2006
Something weird going on with the sales history for that one on NE 9th (next-to-last condo) -- in May alone there are 5 or 6 transactions for the listing, at wildly varying prices between $346K and $894K. Any ideas? EastSider, I salute your detective work.
Also, check the photos of the facilities. The Redfin listing happens to omit HOA dues, but that setup is so posh I'd bet a grand a month isn't out of the question.
Oh look, Tim's fuel gauge is at $2410. Tim, best of luck topping it off tonight or tomorrow.
Something weird going on with the sales history for that one on NE 9th (next-to-last condo) -- in May alone there are 5 or 6 transactions for the listing, at wildly varying prices between $346K and $894K. Any ideas? EastSider, I salute your detective work.
Thanks for your note.
I did notice the multiple sales on this condo (in the same month) -- not sure about the reasons.Maybe someone else on the forum has any ideas?
Sit tight! Here come the eastside flops from 2005!
I'm finding quite a few flops from the year 2006, but I'll skip posting them unless it's an big flop. Finding flops from 2005 is a lot more exciting now
I am following that very market....That house at $254 Sq. Foot ...Is outragiusly over priced....Nice area BUT........
It will never sell at that price and never should....Look at houses in that size ....and there are a number of them that are equally as nice on 1-5 AC....
Comments
Sold in May/2006 for $705K
Currently listed for $699K
ZEstimate is $723K
http://www.redfin.com/WA/Redmond/11228- ... ome/322920
Sold in Oct/2006 for $826K
Currently listed for $759K
ZEstimate is $844K
http://www.redfin.com/WA/Redmond/12011- ... me/8189762
Sold in Apr/2007 for $630K
Currently listed for $568K
ZEstimate is $562K
http://www.redfin.com/WA/Redmond/8036-1 ... ome/515862
Sold in Apr/2007 for $1.1m
Currently listed for $899K
ZEstimate is $994K
http://www.redfin.com/WA/Redmond/7355-1 ... me/2093735
Sold in Apr/2007 for $749K
Currently listed for $689K
ZEstimate is $812K
http://www.redfin.com/WA/Redmond/17279- ... e/12303784
Sold in Jan/2008 for $439K
Currently listed for $350K (Short Sale)
ZEstimate is $435K
http://www.redfin.com/WA/Bellevue/1650- ... ome/431921
At least it was still worth buying at slightly inflated prices in 2004
Seriously though, it seems like prices are going to come back well below 2006 levels (without even considering inflation) and I'd only be a little surprised if they move below 2005 or even 2004 levels.
Sold in Sep/2006 for $417K
Currently listed for $369K
ZEstimate is $443K
http://www.redfin.com/WA/Bellevue/1522- ... ome/500554
Sold in Sep/2006 for $565K
Currently listed for $424K
ZEstimate is $520K
http://www.redfin.com/WA/Bellevue/5213- ... ome/413137
I thought I recognized this one -- it's on my commute to work. It's on the corner of 164th Ave and 20th St (aka Northup), a very busy intersection. There's also a hideous yellow-stuccod cinderblock wall that's conveniently left out of the photos that acts as somewhat of a sound barrier, but it's also been hit 3 times in the 4+ years I've been driving by, and the last time it wasn't completely fixed. The people who bought that place must have been completely delusional, because that location is absolutely terrible, very noisy with traffic at all hours, and what little yard they have is very cramped behind a hideous yellow cinderblock car magnet. I will be surprised it sells for half of what they are asking.
Sold in May/2008 for $654K
Currently listed for $539K
ZEstimate is N/A
http://www.redfin.com/WA/Bellevue/10610 ... e/12448048
Sold in May/2007 for $369K
Currently listed for $349K
ZEstimate is N/A
http://www.redfin.com/WA/Bellevue/424-1 ... home/32178
- Many folks who purchased an Eastside SFH during/after 2006 are underwater.
-Even with these lower-than-2006 prices, many homes are still expensive if you take the long-term appreciation rates into account
-It's been hard to find condos/townhomes that are underwater from the 2006 prices
-Moral of the story for current homebuyers on the eastside: Don't buy a home on the Eastside now. But if you have to, don't pay more than comparable sales in 2006
Also, check the photos of the facilities. The Redfin listing happens to omit HOA dues, but that setup is so posh I'd bet a grand a month isn't out of the question.
Oh look, Tim's fuel gauge is at $2410. Tim, best of luck topping it off tonight or tomorrow.
Thanks for your note.
I did notice the multiple sales on this condo (in the same month) -- not sure about the reasons.Maybe someone else on the forum has any ideas?
I'm finding quite a few flops from the year 2006, but I'll skip posting them unless it's an big flop. Finding flops from 2005 is a lot more exciting now
Sold in Sep/2005 for $561K
Currently listed for $559K (FSBO)
ZEstimate is $630K
http://www.redfin.com/WA/Redmond/2206-1 ... ome/502042
Sold in July/2005 for $762K
Currently listed for $767K (FSBO)
ZEstimate is $864K
http://www.redfin.com/WA/Bellevue/16822 ... ome/236913
Sold in July/2005 for $440K
Currently listed for $439K (FSBO)
ZEstimate is $561K
http://www.redfin.com/WA/Redmond/16733- ... ome/322772
Sammamish Condo
Sold in Nov/2006 for $260K
Currently listed for $259K
ZEstimate is NA
http://www.redfin.com/WA/Sammamish/710- ... home/46834
HOA dues are $225/mo.
EDIT: This was in reference to civil servant's question about the Bellevue condo's weird sales history.
Sold in Aug/2007 for $790K
Currently listed for $620K
ZEstimate is $764K
http://www.redfin.com/WA/Kirkland/109-2 ... home/11077
Sold Sep 28, 2006 $435,000
Now asking $439,000
On the market for 51 days
http://www.redfin.com/WA/Bellevue/2514-155-Ave-SE-98007/home/427139
Also for rent: http://wpmeastside.com/28125037
Sold in Oct 07, 2005 $510,000
Now asking $519,900
Note this is approaching 2005 prices.
http://www.redfin.com/WA/Bellevue/16617 ... ome/429573
I am following that very market....That house at $254 Sq. Foot ...Is outragiusly over priced....Nice area BUT........
It will never sell at that price and never should....Look at houses in that size ....and there are a number of them that are equally as nice on 1-5 AC....
Sold in Dec/2006 for $740K
Currently listed for $629K (15% "discount" from the 2006 price)
ZEstimate is $737K
http://www.redfin.com/WA/Bellevue/1015- ... ome/510071
Sold in Dec/2006 for $793K
Currently listed for $729K
ZEstimate is $778K
http://www.redfin.com/WA/Redmond/16566- ... me/8186485
Sold in Dec/2006 for $405K
Currently listed for $386K
ZEstimate is $397K
http://www.redfin.com/WA/Snoqualmie/791 ... me/2064094
Sold in June/2006 for $699K
Currently listed for $649K
ZEstimate is $655K
http://www.redfin.com/WA/Snoqualmie/643 ... me/2075994
Sold in Mar/2007 for $950K
Currently listed for $896K
ZEstimate is $881K
http://www.redfin.com/WA/Snoqualmie/654 ... ome/467159