Weekly Twitter Digest (Link Roundup) for 2010-11-13

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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.

7 comments:

  1. 1
    David Losh says:

    Great story from from Business Insider, and very much what is going on today in the real estate market place, hire trusted experience.

  2. 2
    Hugh Dominic says:

    Re: the home seller who bought in 2003, no way do I believe his claim of a 30% profit. Maybe it sold for a 30% higher price, but that ain’t profit. Your readers need to learn how to measure profit on home ownership, deducting maintenance, financing, sales costs etc.

    This is one of the causes of the home ownership myth. People brag about buying at $240,000 and selling at $270,000 – when in many cases that was really just a break-even investment.

  3. 3
    Scotsman says:

    RE: Hugh Dominic @ 2

    Please- don’t burst their bubble!

  4. 4
    Notorious ART says:

    RE: Hugh Dominic @ 2

    I agree. When you add up all the cost, I bet he was lucky to break even. My wife and I are in similar situation. We put our house on the market around 1 month ago and finally got an offer. We accepted and from the looks of it, comparing the price from when we bought in 03 to now it looks like WOW, we made a profit in this terrible market…..But, when you add up all the cost, time, energy, and money to get it sold, we’re lucky to have broken even.

  5. 5
    robotslave says:

    Come on, guys, he managed to sell a home for 30% more than the price paid in 2003; complaining that that isn’t “profit” is just nitpicking, isn’t it?

    I mean, after all, your average Seattle homeowner who bought in ’03 and sold today would expect to lose…

    Hmm, lessee here. CSI in Seattle in ’03 averaged around 110, CSI for Seattle this October was 145, so the index loss there is… oh no wait, it’s a 32% increase.

    Sweet, if you do absolutely everything right and have just the right home near just the right school just as the law is changed to favor you, and if you pick the absolute bestest realtor in town and not that bummer negative guy, and do everything so smartly that you’ll be able to write super-smart articles about it… you’ll only underperform the market by a couple of points!

  6. 6
    Scotsman says:

    RE: robotslave @ 5

    +1

  7. 7

    As to my piece above, I realized that I maybe didn’t explain it that well. Rather than trying to show how much certain properties have or have not gone down, it’s designed more to show how the NWMLS median and C-S index are not that relevant to homeowners. If C-S is X% off the peak (or some other point in time), that doesn’t mean a particular house has dropped X% from the peak (or some other point in time). I updated the piece after discussions here about whether some neighborhoods have gone up, how the tax credit possibly affected the median, the recent piece on different price points, etc.

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