Reminder: Meetup Tonight at 6:00

Don’t forget tonight’s Seattle Bubble meetup. Here are the details:

DATE & TIME: Tuesday January 20th at 6:00 PM
PLACE: Kate’s Pub (Wallingford; located near I-5 and many bus routes)
RSVP: Optional; E-mail eli [at] eligoldberg [dot] com and we’ll save you a spot.

Our table will have an improvised “Seattle Housing Bubble” sign. Call 206.313.1914 if you need help or can’t find us.

See you there!

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About The Tim

Tim Ellis is the founder of Seattle Bubble. His background in engineering and computer / internet technology, a fondness of data-based analysis of problems, and an addiction to spreadsheets all influence his perspective on the Seattle-area real estate market. Tim also hosts the weekly improv comedy sci-fi podcast Dispatches from the Multiverse.

18 comments:

  1. 1
    Microsofties says:

    Wish I could attend tonight…

    On a completely unrelated note, I have to decide what to do about my current apartment rental situation within the next 60 days. Lease is ending, and my GENEROUS apartment complex has decided to keep my rental rate the same. [/sarcasm]

    What needs to happen for them to LOWER a rental price? The complex increased it’s rents nearly 50% from 2004 – 2008 and yet they have no room to adjust downward?

    I’m entirely baffled as to how I prove they are crooks in order to get a fairer yearly lease rate without moving…

    Apologies if this has been discussed, but I’m strongly considering hiring an attorney and suing them for fraud since housing prices in Redmond have dropped like a rock yet the rental market is still going strong.

    How can this be?

  2. 2
    Dave0 says:

    Rents get lowered when they are vacant. The only way in my mind to get a lower rent is to move out to a cheaper apt. Then your current landlord will have to fill that vacancy on the open market, and will have to adjust their rent to what the market demands.

  3. 3
    Civil Servant says:

    You could ask — I’ve never done this, but I know more people who have done so successfully than have received a negative response. You tell them you like your current place very much and would rather avoid the moving hassle if you can, but comparable rents are $x vs. your current $y. Then you ask if there’s any way you could receive a consideration for your established tenancy, especially since a new potential renter could find something cheaper in the same neighborhood.

    This doesn’t address the potential fraud issue, but it may save you packing boxes and disrupting your cashflow.

  4. 4
    Lake Hills Renter says:

    Wallingford @ 6pm isn’t going to happen for me, coming from the Eastside during a busy work week. I hope everyone has a good time. Hopefully I can make the next one.

  5. 5
    elig says:

    By the way, if you are at MS, there are spare seats on most Connector buses, which drop you off just a few blocks from the pub (Meridian & 45th). We’ll be taking the bus from the Eastside arriving around 5:45 to get us tables (if possible).

    Looking forward to seeing everyone who’s coming tonight!

  6. 6
    Notorious ART says:

    LHR, i’m a little disappointed that you won’t be there. I’m leaning towards going for a little while.

  7. 7
    TheHulk says:

    Dammit, I would have liked to attend as well, but simply have too much work and dont want to fight traffic from eastside.

  8. 8
    Lake Hills Renter says:

    I’d like to be there, but I have a project due at the end of the week, so taking off early isn’t an option (I’m just trying not to work all night right now). Good to know about the commuter buses, but it doesn’t help me this week unfortunately. Maybe I’ll organize one on the Eastside in the near future.

  9. 9
    BanteringBear says:

    Have fun, all. I’ll be toasting in your honor at, say, 6:30. Cheers.

  10. 10
    Microsofties says:

    Thanks for the insights…I’m going to take a look at other “comparable” complexes in the area as well as do some analysis of the available units on the website to understand what would be a reasonable asking price.

    I hope to attend the next meet-up…Have fun!

  11. 11
    mukoh says:

    Microsofties,
    Landlords have none of the responsibilities to lower your rent. Its market. We have no rent control as there should be none. :)

  12. 12
    Aaron Smothers says:

    Microsofties, yo may also want to check the rent that your apartment community charges for a newcomer– for the same kind of apartment as the one you live in. You may check that online on their website, and if they don’t have one, send them an email enquiry (perhaps pretending to be someone else other than you, who is considering moving into their community :-) You will be able to determine whether they are allowing newcomers at a lower rent than the extension offered to you.

    A few years back, I thought of this method and found out that they were extending my lease at $100 more per month than the rent offered to newcomers! Armed with this knowledge I went and had a little conversation with my rental management…They gladly obliged and offered me the same rent as for newcomers….which was appreciably lower than my rent for the previous year!

    If however the newcomers’ rate is equal to or higher than the extension offer made to you, I am not sure if you have any room for negitiating a lower rent.

    Cheers,
    AS

  13. 13
    Lake Hills Renter says:

    So….how was it?

  14. 14
    elig says:

    We’re still hung over. Try again tomorrow.

  15. 15

    “So….how was it?”

    I had a great time.
    It wasn’t what I expected. I expected maybe 3 or 4 strange looking people discussing the end of the world as we know it. It was actually more like 30 or 35 strange looking people. There were a number of intelligent and funny lurkers in attendance, as well as a few of us know it all regular posters.

  16. 16

    Microsoftees,

    Not sure if someone else mentioned this, but if it is a complex, the key issue is how many apartments are vacant? If they already have 3 apartments to rent out, that would have some bearing. If they are filled to capacity, they may not care if you leave.

    If they have a vacancy, have someone you know negotiate for one of those units, and then move across the hall…could be the answer. They likely will then be happier if you stayed where you are as they will have expense associated with getting your place ready for someone else.

  17. 17
    mukoh says:

    I just want microsofties to sue the landlord for “unfair” lease, to open up the flood gates of “unfair” share prices on stocks “unfair” car prices AND such.

  18. 18

    I wish I could have been there. We wound up having to put down on of our long time pets…would much rather be hanging out w/SB.

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