If I had the money (and the need to buy such a large home), I might have considered low-balling on this home
Bellevue/Lakemont home (BLOCKBUSTER FLOP!!!)
Sold in July/2002 for $2.14m
Sold in Nov/2005 for $2.68m
Sold in May/2006 for $3.02m
Currently listed for $2.39m (21% drop from May/2006)
(11% drop from Nov/2005)
(11% gain from July/2002)
If I had the money (and the need to buy such a large home), I might have considered low-balling on this home
Bellevue/Lakemont home (BLOCKBUSTER FLOP!!!)
Sold in July/2002 for $ 2.14m
Sold in Nov/2005 for $2.68m
Sold in May/2006 for $3.02m
Currently listed for $2.39m (21% drop from May/2006)
(11% drop from Nov/2005)
(11% gain from July/2005)
It's like they always say, the poor get poorer and the rich get much poorer.
With the dramatic drop in sales price on the listing, it seems like capitulation. This person is desperate for a buyer. When you see 20% declines YOY for the entire region, then we might expect a floor to be established. I expect to see a lot more like this in the coming 12 months.
Another price drop posted yesterday. These mo-fos are taking a bath. It is now at 399,950 and unsold in 368 days. I'm almost tempted to do a drive by and see if there is something that the ad is not showing about it. A home in my subdiv a mile from this home recently was marked as "sold" after only being on the market for a week. 375K for an 1800 sf cookie cutter home. Unbelievable. I guess some buyers out there are really just not paying attention. Then again, we'll see if the bank actually says ok to the new buyers.
This is now officially off the market. Maybe it finally sold?
I broke my contract with a builder out there in mid-2007. Lost $7k in the process, but it's looking like it was a pretty good decision. I still like the community out there, but I can't help but feel that far suburbs like Snoqualmie (I wouldn't call it an exurb) will end up as slums in the near future...
This house would be sold quite easily during the bubble years at its current offering. I don't know if this is necessary flop, due to its last sold date.
Comments
Bellevue/Lakemont home (BLOCKBUSTER FLOP!!!)
Sold in July/2002 for $2.14m
Sold in Nov/2005 for $2.68m
Sold in May/2006 for $3.02m
Currently listed for $2.39m
(21% drop from May/2006)
(11% drop from Nov/2005)
(11% gain from July/2002)
ZEstimate is $2.64m
http://www.redfin.com/WA/Bellevue/17035 ... ome/418858
It's like they always say, the poor get poorer and the rich get much poorer.
Sold in Aug/2005 for $699K
Currently listed for $675K (3.5% drop from 2005)
ZEstimate is $688K
http://www.redfin.com/WA/Sammamish/2701 ... me/2086551
Now reduced to $274K (39.2% discount from the 2007 price)
Sold in July/2007 for $1.37m
Currently listed for $1.22m (11% drop from 2007)
ZEstimate is $1.29m
http://www.redfin.com/WA/Sammamish/2176 ... me/8187409
Now listed for $839K
Sold in May/2006 for $715k
Currently listed for $685 (4% drop from 2006)
ZEstimate is $590k
http://www.redfin.com/WA/Sammamish/1318 ... ome/269272
Sold in May/2006 for $582k
Currently listed for $569 (3% drop from 2006)
ZEstimate is $591k
http://www.redfin.com/WA/Issaquah/2888- ... ome/466301
Now reduced to $239K (47% discount from the 2007 price).
This is now officially off the market. Maybe it finally sold?
Sold in June/2006 for $850k
Currently listed for $749 (12% drop from 2006)
ZEstimate is $805k
http://www.redfin.com/WA/Fall-City/2761 ... me/2081870
Sold in Mar/2007 for $1.4m
Currently listed for $1.329m (5% drop from 2007)
ZEstimate is $1.295m
http://www.redfin.com/WA/Kirkland/10410 ... ome/459914
That's a good one!
http://www.redfin.com/WA/Snoqualmie/7015-Autumn-Ave-SE-98065/home/466599
Asking: $469,900
Last Sale: Jun 12, 2006 - $479,000
2% less than last sale in 2006
http://www.redfin.com/WA/Snoqualmie/33919-SE-Strouf-St-98065/home/8189295
Asking: $489,900
Last Sale: Oct 26, 2006 - $515,528
5% less than last sale in 2006
http://www.redfin.com/WA/Snoqualmie/7430-Cottonwood-Dr-SE-98065/home/467733
Asking: $449,900
Last Sale: Aug 16, 2006 - $475,000
5% less than last sale in 2006
I broke my contract with a builder out there in mid-2007. Lost $7k in the process, but it's looking like it was a pretty good decision. I still like the community out there, but I can't help but feel that far suburbs like Snoqualmie (I wouldn't call it an exurb) will end up as slums in the near future...
Originally sold for $384,900 in July 2007.
Sold again for $450,000 in August 2007.
Dang. A 1-month flip by the original purchaser for nearly $30k in post-fees profit. There's this saying about suckers...
Sold in Sep/2005 for $425k
Currently listed for $399k (6% drop from 2005)
ZEstimate is $393k
http://www.redfin.com/WA/Kirkland/10512 ... me/2093042
Sold in July/2006 for $582k
Currently listed for $579k (1% drop from 2006)
ZEstimate is $583k
http://www.redfin.com/WA/Issaquah/2832- ... ome/466463
Sold in July/2007 for $925k
Currently listed for $839k (9% drop from 2007)
ZEstimate is $890k
http://www.redfin.com/WA/Issaquah/19310 ... ome/418684
Now listed at $999K (17% drop from 2006)
Sold again for $450,000 in August 2007.
It was a short sale, wonder if that was a bank purchase with a HELOC or something.
Now, asking $929K
Sold in Oct/2007 for $662k, and then for $620k (fraud??)
Currently listed for $599k (3.5% drop from 2007)
ZEstimate is $593k
http://www.redfin.com/WA/Issaquah/2096- ... me/2061869
Sold in Oct/2007 for $975k
Currently listed for $949k (3% drop from 2007)
ZEstimate is $779k
http://www.redfin.com/WA/Sammamish/4009 ... ome/322312
Sold in June/2008 for $1.93m
Currently listed for $1.75m (9.5% drop)
ZEstimate is $2.32m
http://www.redfin.com/WA/Medina/2655-78 ... ome/252377
Sold in Apr/1989 for $1.6m
Currently listed for $1.49m (7% drop from 1989) -- fixer upper
ZEstimate is $947k
http://www.redfin.com/WA/Medina/7712-Ov ... ome/251319
$1,500 a square foot what kind of joke is this. I am guessing that someone accidentally added a zero or the walls are made out of gold.
Lot of money for a lot and a tiny house.
The $1.6 million doesn't show up in the King County records. Or I'm looking in the wrong place.
Either way this is maybe "worth" $800k. But Uber is right, this would have been off the market in 3 days tops two years ago.