NWMLS: New listings dry up as home prices plateau

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The NWMLS published their August stats yesterday, so let’s take a look at how the month shook out for the housing market.

As we mentioned in yesterday’s preview post, the biggest story is a sudden, renewed shortage of inventory.

Before we get into our detailed monthly stats, here’s a quick look at their press release.

Home Buyers Seeking Affordability Are Expanding Search Outside Greater Seattle Job Centers

Depleted inventory continues to frustrate would-be buyers in Western Washington. Many of these potential homeowners are expanding their search beyond the major job centers in King County, according to market watchers who commented on the latest statistics from Northwest Multiple Listing Service.

“While August is always a slower time for listings and sales, what is really surprising this year is the decrease in new listings taken, while pending sales increased,” observed Mike Grady, president and COO of Coldwell Banker Bain.

Multiple offers are still commonplace with many buyers walking away disappointed, according to Wilson. “Traffic is strong at open houses and our average market time is still very low for correctly priced homes,” he added.

“The August numbers offered a few interesting nuggets,” stated OB Jacobi, president of Windermere Real Estate. “The Seattle area housing market is still coming off the ‘sugar high’ that we saw last summer, but homes sales and prices are stabilizing, which is reassuring to both buyers and sellers.”

Quick note: According to data from Redfin, multiple offers are far from “commonplace” now. In August fewer than 10 percent of offers in the Seattle area faced competition. (Disclosure: Tim works for Redfin.)

However, new listings are indeed way down. Let’s get into the data to quantify the drop.

CAUTION

NWMLS monthly reports include an undisclosed and varying number of
sales from previous months in their pending and closed sales statistics.

Here’s your King County SFH summary, with the arrows to show whether the year-over-year direction of each indicator is favorable or unfavorable news for buyers and sellers (green = favorable, red = unfavorable):

August 2019 Number MOM YOY Buyers Sellers
Active Listings 4,194 -4.7% -10.1%
Closed Sales 2,531 -3.9% +6.1%
SAAS (?) 1.11 -4.8% -22.9%
Pending Sales 2,623 -10.1% +7.9%
Months of Supply 1.66 -0.7% -15.3%
Median Price* $670,000 -1.5% +0.1%

Here’s the graph of inventory with each year overlaid on the same chart.

King County SFH Inventory

Inventory fell five percent from July to August. During the same period a year ago, inventory rose 12 percent. The 10 percent year-over-year drop in inventory is the biggest decline we’ve seen since January 2018.

Here’s the chart of new listings:

King County SFH New Listings

New listings were down 10 percent from July to August, and were down 18 percent from a year ago. Only 2011 and 2012 saw fewer new listings in August than we had in 2019.

Here’s your closed sales yearly comparison chart:

King County SFH Closed Sales

Closed sales fell four percent between July and August, and were up six percent from last year. Closed sales have been in a fairly tight range between about 2,400 and 2,800 in August every year since 2013, and this year fell right in the middle of that range at 2,531.

King County SFH Pending Sales

Pending sales fell 10 percent month-over-month but were up eight percent year-over-year.

Here’s the supply/demand YOY graph. “Demand” in this chart is represented by closed sales, which have had a consistent definition throughout the decade (unlike pending sales from NWMLS).

King County Supply vs Demand % Change YOY

The good news for buyers with respect to housing supply was short-lived. Supply is back in the red.

Here’s the median home price YOY change graph:

King County SFH YOY Price Change

Home prices dipped a bit last month, but not by as much as they did this time last year, so we ended up back in the black year-over-year, just barely.

And lastly, here is the chart comparing King County SFH prices each month for every year back to 1994 (not adjusted for inflation).

King County SFH Prices

August 2019: $670,000
August 2018: $669,000
July 2007: $481,000 (previous cycle high)

Here’s the article about these numbers from the Seattle Times: The market’s chilled out, but Seattle home prices still too hot for many first-time buyers

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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.

2,376 comments:

  1. 2251

    Why has this blog not been updated in 5 months? And there are the same posters arguing here the whole time. Sad!

  2. 2252

    RE: biliruben @ 2236
    Exactly billruben

    The avg investor doesn’t have the personality type to sell to the few buyers that qualify; we just don’t practice communication and/or psychology or get experienced at it. And it takes a lifetime of learning and much time too. I still go to Toastmasters for leadership training, but as everyone ages [even SWE…LOL] we get less capable of handling stress compared to when we were younger. Listening to depressed folks depresses the older folks [younger folks too BTW], but gets more difficult as time goes on. That’s why I seek positive and happy folks to spend my time with. Successful/happy folks cheer me up and believe me, finding a positive/happy friend in Seattle is VERY rare….my older friends are usually not in the “happy” group either [I rarely see them much lately]. I can be a psychologist and use this time/skill to get good profits/results, but as time goes on, its too draining to be worth it in Seattle. That’s why “Sunny” attracted me, any lady dressed in bright colorful garb [even her nails were colorful] singing and dancing in a Fred Meyer parking lot is a rare sight in any city….hey I found Waldo….LOL….she wanted a big hug when I first met her and took a selfie movie of our conversation and smiles. They’re out there, they’re just hard to find.

    Time to pick out your Valentine venue, I’d try a new place you haven’t visited before. Bali’s in Tukwila comes to mind, its expensive but the chef is renown. Their steaks are to die for…Time to read the brief Brief, fill your Yuban mugs and smile:

    “… Massive project to restore salmon gets new life For the first time in a century, salmon and steelhead could inhabit more than 100 miles of the Upper Green River watershed. This has been singled out by advocates as the biggest potential way to help the fish and the endangered orcas that feed on them. It’s getting a big boost with the reboot of a federal project to get fish past the Howard Hanson Dam. (Photo: Steve Ringman / The Seattle Times)..”

    SWE’s Take: I saw the Green River dam blockage mess to get salmon through and I’m not Core of Engineers Civil Engineer credentialed [either was the MSM “experts”]….but it looks like billions are needed and decades to build. We’re a 100 years too late IMO.

    “…Bernie Sanders has raised more money in Washington than any of his Democratic rivals. President Donald Trump, meanwhile, has already raised more in the state than he did in the entire 2016 campaign. Where is all that money coming from? Here’s who’s opening their wallets, and where the cash is flowing…”

    SWE’s Take: Trump’s “cash cow” impeachment campaign fund raising ended with impeachment ending; but Bloomberg is recently spending MASS cash and stealing Biden/Bernie votes IMO? Bloomberg or Mini-Mike is wasting his money? Trump never did spend much money to win in 2016 anyway.

    “…A judge has largely upheld the initiative to cut car-tab taxes, but don’t expect a lower bill just yet. The legal fight over voter-approved Initiative 976 isn’t over. If I-976 survives, it could deal a significant blow to transportation spending across Washington state…”

    SWE’s Take: Perhaps the DOT should focus on how much road projects are actually completed on time and on schedule, rather than how much “tab” money they can burn, like the Joker’s $CASH$ bonfire…LOL

    “…Two people were killed in a wrong-way crash that closed all southbound I-5 lanes near Olympia for more than five hours overnight. The freeway has reopened, but check traffic if you’re heading south (or anywhere, for that matter)…”

    SWE’s Take: Good thing it happened last night, did it affect the morning commute?

    “…Seattle should raise $300 million a year by taxing big businesses, City Councilmember Kshama Sawant says. She’s outlining her vision for which companies would be taxed — more than 800 of them — and where the money would go. Mayor Jenny Durkan is not a fan of the plan…”

    SWE’s take: Does that mean everyone’s taxes go up? Do you folks trust them?

    “…A baby who contracted a heart infection from Aspergillus mold at Seattle Children’s hospital has died. The family of Beth Hutt, who was almost 6 months old, is involved in a class-action lawsuit against Children’s over the recurring mold problems…”

    SWE’s Take: Turning your heat off during the work day likely causes much more indoor mold, especially the north side of the house/hospital. BTW, keeping the heat the same 7/24s reduces restart heating costs too.

    “…China added nearly 15,000 new coronavirus cases overnight to the tally in one province alone, after changing the way the illness is diagnosed. So far, most cases around the world have been mild — which makes scientists’ detective work harder…”

    SWE’s Take: Trump predicts the coronavirus dies out by April.

    “…”We can’t sell you that house.” Diane Sugimura remembers the rejections when her family moved to Seattle. Decades later, she’s helped design a Wing Luke Museum exhibit on Seattle’s discriminatory history of redlining. The exhibit’s message is relevant today, its writer says: “People are still fighting to stay in their homes, it just looks different.”…”

    SWE’s take: Bloomberg supported “redlining” in 2008 and its hurting him on the 2020 campaign trail.

    “…In 1979, the western half of the Hood Canal Bridge sinks during a severe storm with winds of 80-120 mph. Highway 104 connects the Kitsap Peninsula with the Olympic Peninsula, and is the world’s first floating pontoon bridge built over salt water and subject to tides. The western half of the bridge is rebuilt with heavier anchors, and it opens to traffic in October 1982. As a precaution, the bridge closes when winds reach 40 mph for 15 minutes…”

    SWE’s Take: Our current infrastructure was built decades ago on sinking sand.

    Good News: The Americans sick with Chinese coronavirus mostly didn’t die in America and are well now…the pictures of Chinese Socialistic Hospitals says it all….especially the crowded hallways with yellow Hazmat suits and helmets…body bags strewn about too…its OVERPOPULATED chaos folks. Medicare for all?? LOL

  3. 2253
    Bumble says:

    The Redfin January numbers are out. Here are some highlights for King County SFH.

    2019 Median Price: $610,000
    2020 Median Price: $645,000

    2019 Inventory: 2,606
    2020 Inventory: 1,169 (the lowest of any month in Redfin’s 2010-2020 data)

  4. 2254

    RE: Bumble @ 2245
    Is this a reason to sell or buy?

    Get the Hades out before the ax comes down hard? Or “old money” never goes dry? How can we predict either scenario with confidence? Crystal balls? LOL

    I’m glad I’ve left this “stress chaos”….time to just enjoy life and destress. My Glenbrook 140 unit modular HOA has “for sale” signs popping up suddenly all over [about 5-10% of ’em now], there was only a couple listed a year ago. Is this a good time to sell or buy? Using Erik’s and Deerhawke’s success record on “qualified buyers left” says perhaps a good time to buy? They have sales personalities and a “professional” success plan with milestones too…most of don’t know what the professional time/cost/experience that involves…LOL. That’s why I buy foreclosed for $CASH$, put hardly no money in them, then sell for easy low price “stress-free” profit. Win/win for both buyer and seller, but SWE’s lazy now…LOL. I was an village idiot for not grabbing up the Glenbrook $99K unit in 2017 that went up to $288K listing in 2018. That “Waldo” foreclosure purchase I missed…LOL…my vulture eyes need new glasses?

  5. 2255
    Boater says:

    By Blake @ 2232:

    RE: David @ 2230
    Ummm… THIS is why you might want to sell your stocks now!
    https://twitter.com/Laurie_Garrett/status/1227464224445734917?s=19

    I’m shorting the S&P this week. China cannot contain this thing!

    Here’s how I look at it. If it ends the world I don’t give a crap if my stock goes to zero because I can’t farm for shit and I’m not going to kill someone for food. If society collapsed I’d die.

    If it doesn’t collapse society then it’s a blip. How long a blip I don’t know but blips recover. I’d be more likely to buy than sell because I don’t plan on selling the stock for decades. If that’s your time horizon whatever is happening today is almost irrelevant compared to not being in the market at all. That’s a recipe for sure loss.

  6. 2256
    Boater says:

    By biliruben @ 2236:

    RE: David @ 2228

    As someone who is in the process to looking to buy his 4th house, and has received a much larger check at each sale than at purchase, I can speak with confidence…

    … Real Estate is absolutely an incredibly bad investment long-term. Short-term. Any term.

    If you are honest with yourself, and take into account all the money spent on Realtor fees, maintenance, new roofs, burst pipes, updating – Real Estate is a loser. On paper we’ve made 100s of thousands of dollars without taking these into account. In reality, Real Estate is a money pit. A big loser. Yes you can get lucky hitting the perfect storm of geography and time period, and eek out of few cents on the dollar, particularly if you do the work yourself and don’t pay yourself, but nothing compared the stock market.

    If you don’t need RE to have a roof over your head, skip it.

    If that’s all you’re managing to eek out you’re doing it wrong.

    Just because you haven’t made money doesn’t mean it’s a bad investment. The most I can say is it doesn’t seem to be an investment that matches your personality.

  7. 2257
    biliruben says:

    RE: Boater @ 2248

    Please let me know how to do it right. I’ve owned 2 houses during two of the greatest run-ups in history. Sold with perfect timing – 2008 and 2017, and managed huge gains. I was probably luckier in my timing than 99.9% of “investors”. And still barely broke even, when taking into account costs. That last part is the key.

    Yes, if you leverage heavily and take on massive amounts of risk, you could make a bit more. But you could also end up upside-down and bankrupt.

    If you are honest about your costs, particularly including your own costs as far as paying yourself for your own labor, you aren’t making nearly what you think you are.

  8. 2258

    RE: biliruben @ 2249

    Are you adding back what you would have paid in rent and the tax benefits during the ownership?

    The big issue was people were getting 100% returns on ZERO investment for awhile there because they bought with no money at all, as VETS can still do. You can’t buy stock with no money. You can buy a house with little or no money. So the ROI is still very high.

    Paid nothing at time of purchase, sold for NET gain of $125,000 in two years which was more than the original purchase price. 125% gain in 2 years on a net basis. No capital gain tax. Monthly mortgage payment including tax and insurance was not more than they would have paid in rent. Some paint and new engineered hardwood flooring. A few new appliances, not all.

    If you buy $100,000 of stock and sell it for $225,000 you don’t get the gain exclusion and you don’t get to buy it with almost no money. You need to have $100,000. That makes a huge difference.

    My favorite ones aside from the one above were the two families who stayed 2 to 4 years and were able to go back where they came from with their tax free gain and buy a house where they used to live free and clear with the profit. They now have children and no mortgage at all, having used their Seattle gain to buy the house. Both of those after having worked here at a big salary at a local tech company were able to switch to working remotely from their new, mortgage free location. Super win-win on those. They were fun to do. As new hires they weren’t offered the option to work remotely. But once they were here for a couple to few years, they were allowed to go back to their home State and work remotely. No job change needed.

  9. 2259
    Beano says:

    RE: softwarengineer @ 2244

    You have mentioned Bali’s in Tukwila twice….but I can’t find such a restaurant. What is the address?

  10. 2260
    biliruben says:

    “Are you adding back what you would have paid in rent and the tax benefits during the ownership?”
    -Ardell

    That’s why I said, “unless you need a roof over your head”. Those benefits make it worth it. And one of the reasons why I’m not seriously considering renting now.

    Whether we should be giving hundreds of billions of dollars in tax-breaks only to people who are wealthy enough own a home, and at the same time jamming renters in the eye with a pointy stick, is the subject of another conversation.

  11. 2261
    Eastsider says:

    By Ardell DellaLoggia @ 2250:

    My favorite ones aside from the one above were the two families who stayed 2 to 4 years and were able to go back where they came from with their tax free gain and buy a house where they used to live free and clear with the profit. They now have children and no mortgage at all, having used their Seattle gain to buy the house. Both of those after having worked here at a big salary at a local tech company were able to switch to working remotely from their new, mortgage free location. Super win-win on those. They were fun to do. As new hires they weren’t offered the option to work remotely. But once they were here for a couple to few years, they were allowed to go back to their home State and work remotely. No job change needed.

    This is so irresponsible coming from a RE agent. In all likelihood, you will lose money if you buy and sell your residence with only 2 to 4 years of ownership. The guaranteed beneficiaries are the agents who buy/sell the home for you. And you can’t write off the tax loss. Oh, did she mention that?

  12. 2262

    RE: Eastsider @ 2253

    I don’t disagree with that. But to say in the past tense, as was the case in responding to Biliruben, that the huge gains were sucked up by other costs is just not true. Those examples are my clients and not hypothetical situations.

    I wasn’t talking to you nor was I talking about today and future. I know Biliruben a tiny bit. I was talking to him.

    Whether or not I’m an agent doesn’t change the facts when we are talking about hindsight.

  13. 2263
    richard says:

    As I said many times. A recession is the real catalyst for housing market collapse. It is true that seller get huge profit when inventory is low, money is cheap and sucker buyers are abundant. But the market can not afford to have many sellers at the same time (which will likely happen in next recession!). it is harder and harder to find next bag holder if you expect same rate of return . if you believe house price will always go up, you should buy stock. Because their value appreciation are all based on Fed’s pump game. But stock is highly liquid and transaction cost is low. Nowadays, people just buy index ETF blindly. The risk is low because you have powell put.

  14. 2264
    David says:

    By Boater @ 2247:

    By Blake @ 2232:

    RE: David @ 2230
    Ummm… THIS is why you might want to sell your stocks now!
    https://twitter.com/Laurie_Garrett/status/1227464224445734917?s=19

    I’m shorting the S&P this week. China cannot contain this thing!

    Here’s how I look at it. If it ends the world I don’t give a crap if my stock goes to zero because I can’t farm for shit and I’m not going to kill someone for food. If society collapsed I’d die.

    If it doesn’t collapse society then it’s a blip. How long a blip I don’t know but blips recover. I’d be more likely to buy than sell because I don’t plan on selling the stock for decades. If that’s your time horizon whatever is happening today is almost irrelevant compared to not being in the market at all. That’s a recipe for sure loss.

    Coronavirus is a non-event so far. Less than a 2% lethality rate from a virus that has always existed in the cattle population. VERY few people even have it.

    This hysteria is pointless so far.

    The media tried to say the stock market was going down because of this virus – nuh uh it went down because they were worried about Trump being removed from office.

  15. 2265
    Eastsider says:

    RE: Ardell DellaLoggia @ 2254
    I agree with Biliruben. Invest in the stock market instead of RE (except your home) for retirement. If you insist to be in RE, invest in a well managed REIT fund instead.

  16. 2266
    David says:

    RE: Eastsider @ 2256 – REITs suck. I like real estate and the stock market.

    I think most millionaires are still minted in real estate:

    https://thecollegeinvestor.com/11300/90-percent-worlds-millionaires-do-this/

  17. 2267
    Erik says:

    RE: Deerhawke @ 2231
    I’ve got a quote for you as well…

    Ray Dalio said “Cash is trash” for 2020 and going forward. He goes on to say “The depreciation of the exchange rate and the printing of money over the next few years is going to be the biggest thing, cash is not going to be good.”

    You previously stated that you want to be in all cash by 2020. I think you should have some assets and not hold cash other than a 6 month emergency fund.

    My goal is to hold assets that give me enough money each month to sustain my meager existence. Get the cash coming in and then build stress free from there.

  18. 2268
    Erik says:

    RE: David @ 2257
    Most wealthy people in the United States got wealthy through real estate. I heard on a tour once in Seattle that 9/10 wealthy people in the Puget sound got wealthy from real estate.

    You are wasting your time fighting these idiots. They are not capable of learning.

  19. 2269
    Eastsider says:

    RE: David @ 2257 – I assume you haven’t read this –

    The number of 401(k) and IRA millionaires continued to grow, reaching record levels. The number of people with $1 million or more in their 401(k) increased to a record 233,000, up from 200,000 in Q3 and 21,000 in Q4 2009. The number of IRA millionaires increased to 208,000, also a record high and an increase from 182,400 last quarter.

    For savers who have been participating in the same workplace 401(k) plan for a decade, the average balance reached a record $328,200 in the fourth quarter, topping a previous high of $306,500 in the prior quarter.

    441,000 millionaires in retirement savings accounts at one brokerage alone! That’s not even counting other assets.

    https://www.usatoday.com/story/money/2020/02/13/retirement-plans-401-k-and-ira-millionaires-hits-record/4738392002/

  20. 2270
    Eastsider says:

    By Erik @ 2259:

    I heard on a tour once in Seattle that 9/10 wealthy people in the Puget sound got wealthy from real estate.

    Fake news.

  21. 2271
    David says:

    RE: Erik @ 2259 – The ability to judge a real estate investment is SOOOO much easier than picking a good stock.

    Most companies have ~14 years as a viable enterprise for investment purposes (https://www.inc.com/ilan-mochari/innosight-sp-500-new-companies.html). You lose half the value of your dollar every 17 years.

    What’s left?: Real estate.

    So 14 years or 17 years. A mortgage is typically 15 or 30 years – and you will still know reasonably that the underlying real estate will have value that appreciated at 0% return at least. Meaning your house gained in value without losing money taking every expense into consideration. Rent that property out and the economics really change.

    Rent at negative cash flow? Wait and the cash flow will eventually catch up with inflation compounded. This is why I like fixed-rate interest only loans.

  22. 2272
    richard says:

    both stock and house value are paper wealth. The difference is you have debt on your house. No matter how cheap the debt is, debt is debt and it is always there. You realize your gain when the next fool show up in future. for stock, at least, you can get some dividend and you reinvest it to have compounding effect. Both assets are bubble and both are inflated by Fed. But stock make more sense as an investment: highly liquid, you can diversify to reduce risk. Another point, you should notice that people can inflate tesla from $160 to $960 in 3 months. There is some limit in how much you can inflate house price, remember buying a house is a heavy bet which could ruin your life. So I will take stock poison .

  23. 2273
    David says:

    RE: richard @ 2263 – Show me a house in metro-Seattle that has cratered in value from 30 years ago.

    Start with just one example.

  24. 2274
    Boater says:

    RE: biliruben @ 2249
    The absolute most successful for me was purchasing a SFH during 2010. It was a rental. Converted it to a duplex to be able to refi the loan and get most of my money back out. Rented it for a while using a management company. Sold it a few years later for 2 1/4 times what I paid for it. All the while it was cash flowing. That cash flow due to depreciation was not taxed.

    You do have to buy a house that doesn’t need a new roof or replumbing or negotiate that into the purchase price.

  25. 2275
    richard says:

    RE: David @ 2264 – you need to look into the future and ask yourself how much higher the price can go under the fed low interest policy and the income can support that high price. i dont have too much skin in the game as you do. you might will win as you did in the past. i will wait for the recession and buy the dip. in the meantime i can invest in the stock. it is basically the same.game but less risky than real estate. as an investor,your should know past performance does not garantee future performance. i appreviate your arrogance fuelef by past success.

  26. 2276
    Sam says:

    Now even the Economist is commenting on cost of agents and RE transactions. Can anyone with Economist subscription post full article here:

    https://www.economist.com/leaders/2020/02/15/the-cost-of-buying-and-selling-homes-is-too-high

  27. 2277
    Eastsider says:

    By David @ 2264:

    Show me a house in metro-Seattle that has cratered in value from 30 years ago.

    Start with just one example.

    Inflation adjusted home prices have been very stable before year 2000. The runup in early 2000 caused the housing crash. The intervention by the Fed to reinflate prices since the crash is unprecedented. Brace yourself for another crash if you think you will do well buying at the peak of the market. Check out the chart here.

    Historical Home Prices: Monthly Median Value in the US from 1953-2019
    https://dqydj.com/historical-home-prices/

  28. 2278
    David says:

    RE: Eastsider @ 2268 – The historical return on a house is 0%. This is for a non-investment property (personal residence).

    You can sell a house and keep ALL ALL ALL of the capital gains. You cannot do that with stocks (except retirement). You sell the stock and you pay TAX NOW.

    If most stocks are not good investments over time (14 year lifespan in the S&P 500), then how is real estate a bad investment? Real estate protects your cash pool ultimately.

    ALSO, the Fed pumping to re-inflate housing is a self-defeating argument. If interest rates are LOW LOW LOW, asset prices are going to go HIGH HIGH HIGHer in value.

    The ONLY way to protect your future money is to own real estate assets.

  29. 2279
    David says:

    By richard @ 2266:

    RE: David @ 2264 – you need to look into the future and ask yourself how much higher the price can go under the fed low interest policy and the income can support that high price. i dont have too much skin in the game as you do. you might will win as you did in the past. i will wait for the recession and buy the dip. in the meantime i can invest in the stock. it is basically the same.game but less risky than real estate. as an investor,your should know past performance does not garantee future performance. i appreviate your arrogance fuelef by past success.

    AGAIN, point me to even a single example of a house in metro-Seattle that has nakered the owner over that time?

    SHOW ME JUST ONE EXAMPLE of a single-family residence in the metro that has ruined the owner? You can go back as far as you like 15, 30, 50…. years.

    I’m not arrogant, I bought about $100k in Boeing stock last year. I think the government should break up Boeing into several companies.

  30. 2280
    richard says:

    RE: David @ 2270 – those who bought around 2005 and default in 2009 recession. what do you say to those who lost their house in great recession. you can not deny there are people who boughr at the wrong time and ruined their life. as i said, stock and house is the sane game,if you believe your house will go up in price, you also believe stock will do well. amd stock is eay easier to handle. i dont want to lever too much to speculate in future. you are a bigger gambler and you might win big. but for me, i would like to bet small.

  31. 2281
    Eastsider says:

    By David @ 2269:

    The historical return on a house is 0%. This is for a non-investment property (personal residence).

    If most stocks are not good investments over time (14 year lifespan in the S&P 500), then how is real estate a bad investment? Real estate protects your cash pool ultimately.

    You are seriously mistaken. Check out the real (inflation adjusted) return of S&P 500 index. RE is out of the league.

    S&P 500: Total and Inflation-Adjusted Historical Returns
    http://www.simplestockinvesting.com/SP500-historical-real-total-returns.htm

  32. 2282

    RE: richard @ 2271
    How Close Are You to Retirement Richard?

    Most retirees can retire BECAUSE they saved enough to quit LAS VEGAS gambling….they can settle into $CASH$ and transfer to safe diverse funding, even gold and “safe flip RE buys” [like half price gems you can easily sell for 80% list without spending remodeling loot]…albeit even RE gains like that involve SIGNIFICANT capital gains and believe me, once you’re on a great retirement path, the last thing you want is reduced Social Security income because ya made too much money…LOL…how the Hades to right the boat later? Have you folks ever sat on the phone for hours/days to speak to any agency representative [multiple instances too], Its about as entertaining as watching another continuous/ boring/fake news story over and over again…..do they all use the same monotonous garbled music background?

    I’m All Rested [9-10 hrs sleep] and have already cleaned out the Yuban carafe…fill your mug now and Read the brief Brief:

    “…Millions of drivers will keep paying car-tab taxes that sometimes reach hundreds of dollars per year, after Washington state’s Supreme Court sided with Sound Transit yesterday. The decision, which focuses on the inflated car values that are used to calculate taxes, is separate from another car-tab ruling this week involving Initiative 976…”

    SWE’s take: Why vote? Some far left “crazy” judge will make it a joke anyway.

    “…Boeing and engineering-union leaders have a surprise deal on a new contract that would extend to 2026. SPEEA members will vote on the plan, which includes changes to pay, family leave and more…”

    SWE’s Take: Most of the SPEEA Presidents go to “cush” jobs in Boeing management….trust them? LOL

    “…Many people feel they lack the knowledge or confidence to reach their financial goals. But with a few good habits, both spenders and savers could see 2020 as the year to feel empowered to create a better relationship with their finances…”

    SWE’s Take: Getting to first base is the first obstacle for avg Joe $20/hr per capita incomes in Seattle. Ya need to budget for a roof on limited funds IOWs. That means smaller house and less overall spending folks, your lives depend on it….or, stay with mom and dad until you degrade psychologically?
    Depression is very chronic and high lately; and where’s Waldo? Romantic couples seen at restaurants and walking together lately this Valentines Day? Albeit, budgeting a roof over your head is FAR more important than forking out for dates in Seattle and remember ladies, its flat table gender now….you pay half the dating costs.

    “…President Donald Trump made it “impossible for me to do my job,” Attorney General William Barr said yesterday, instantly setting off speculation about how long he’ll keep that job. The extraordinary public rebuke came after the case involving Roger Stone, a longtime friend of Trump, raised questions about White House pressure on the Justice Department…”

    SWE’s Take: C’mon far left MSM, attack the same 1st Amendment “freedom of speech” and transparency rights the media has but Trump doesn’t some how? Trump set this conundrum up with Barr IMO to make you look like biased jokers…LOL

    “…”We’ll never be able to stop bad people from doing bad things to kids.” Seattle Public Schools’ human-relations chief choked up yesterday as School Board members questioned her about how the department handles misconduct by teachers. A KUOW investigation found 10 cases in which the district disciplined educators for abusing students, but allowed them to keep teaching…”

    SWE’s take: Sanctuary Cities never blame the schools for poor performance, teaching ESL [English as a Second Language] is more important than just plain teaching well.

    “…Everyone deserves to love their home. But like any relationship, keeping the love light burning takes some effort and creativity. A few simple upgrades could help you fall in love with your space again…”

    SWE’s Take: Everyone? Even those living in a tent? LOL….perhaps your tent needs a new sleeping bag, that old soggy one smells?

    Good News: Bloomberg’s stand on red-lining mortgage approval is turning out to be as bad as his “stop and frisk” laws politically…LOL

  33. 2283
    Matt P says:

    By richard @ 2255:

    As I said many times. A recession is the real catalyst for housing market collapse. It is true that seller get huge profit when inventory is low, money is cheap and sucker buyers are abundant. But the market can not afford to have many sellers at the same time (which will likely happen in next recession!). it is harder and harder to find next bag holder if you expect same rate of return . if you believe house price will always go up, you should buy stock. Because their value appreciation are all based on Fed’s pump game. But stock is highly liquid and transaction cost is low. Nowadays, people just buy index ETF blindly. The risk is low because you have powell put.

    Stock relies on the greater fool conundrum just as much as real estate does. Stock price goes up because there’s someone willing to buy it at the greater price same as a house. The stock price doesn’t guarantee you anything though, only dividends do. The stock price is just a valuation same as a house price.

  34. 2284
    richard says:

    RE: Matt P @ 2274 – that’s right. I agree with what you are saying. Stock is as speculative as housing. pick your poison.

  35. 2285

    RE: Matt P @ 2274
    After the 2001 and 2007 Stock Market Crashes

    Many lost MASS bucks and pulled out too soon. If you can’t handle that kind of stress avoid the stock market. RE, same thing….when your home becomes a money pit its no investment, but 5-10 years later it may reverse itself. Roll the dice…LOL?

    My co-workers almost all got 401Ks or matching investments out of stocks in 2007 and never returned. Even SWE should have stayed the course “retired” invested in stocks, 50% rise from 2016 on…LOL….I eventually chickened out too. We all do, even Buffet. They called their investments “puny” compared to my stock growth over the long run.

  36. 2286
    Erik says:

    RE: David @ 2262
    Totally. In the year 2020 percent are still trying to claim real estate is a bad investment. I would say those people don’t understand real estate investing.

  37. 2287
    Eastsider says:

    RE: Matt P @ 2274
    There is a key difference between RE and stock. RE (homes) is a depreciating (non-productive) asset. Stock is an appreciating (productive) asset. Over the long haul, RE keeps up with inflation. Stock beats inflation.

    Aside from your primary residence, investing in the stock market is a better choice historically.

  38. 2288
    Beano says:

    This RE v Stock debate is dumb. Having some diversity is better than having none, if the goal is to ensure stability and growth.

    If the goal is preservation of capital, RE is typically superior.

    If the goal is rapid growth, your best chances come from stocks – the right stocks.

    Both RE and stocks offer a path to financial independence. Each has unique rules (tax laws, regulations, etc..) for the game. Just understand them and you will be fine.

    The constant pumping of cash from the fed has indeed changed the game. You must own assets in this new world.

  39. 2289
    Lulu says:

    RE: richard @ 2263
    Both RE and Stock are real asset. A RE is a house that you can live in. A share of stock is a % of company ownership that might produce profit.

  40. 2290
    Eastsider says:

    By Beano @ 2279:

    This RE v Stock debate is dumb. Having some diversity is better than having none, if the goal is to ensure stability and growth.

    A home already provides (too much) ‘diversity’ for most people since it is likely their largest financial asset. There is no reason to buy another one!

    You don’t have to pick stocks. Rather, buy a few ETFs (e.g. S&P500, EM) that are broad based.

  41. 2291
    Justsomedude12 says:

    RE: Eastsider @ 2281 – Yes, one primary residence is already too high a % of net worth in RE for about 99.5% of people.

    Have your primary residence be the RE portion of your net worth. You’ll get the enjoyment of living in it, you’ll take much better care of it than renters will, and you’ll get the benefits of any appreciation in the RE market. Put the rest of your money that’s earmarked for investing in virtually zero cost index funds.

  42. 2292
    richard says:

    another point is that buying home is not the only way to get exposure to real estate. You can buy real estate stock and etf. If you believe house price and rental will go up, investing reits is one way to get some exposure. Why do you have to make a heavy bet which potentially could ruin your life?

  43. 2293

    Grab a Valentine Chocolate and Have it With Your Yuban and Read the brief Brief:

    “…WE’VE ALL HEARD about that eager-beaver woodchuck who absolutely would chuck all the wood, if he could. Good thing he couldn’t. Because here’s how much wood architect Roger Wallace needed for the contemporary, distinctly curvy home he designed for himself in Lake Forest Park — naturally, among some seriously towering trees: “I’d say a lot,” he replies matter-of-factly, […] Read more…”

    SWE’s take: Smart architect, he used a metal roof when building in the woods [for tree branch smashes]…albeit that custom home on a lot is like 3 times the price of tract built boiler plate home on a 70% learning curve.

    “…Washingtonians are among the most likely Americans to fall for romance scams, destroying hearts as well as bank accounts. Witness what happened to a guy who was teaching a class on fraud when he got snookered, and know how to avoid being a victim. Read more…”

    SWE’s take: In the early 2000s the internet dating personals were hot, the last 5-10 years they’re a complete joke….send ’em $40/mo to just email potential dates and hardly ever get to meet or get replies back for any of them like before…LOL…fake pictures?

    “….Amazon’s Jeff Bezos is buying a new home, at a record price. He’s reportedly agreed to pay $165 million for a mansion that was once featured in Architectural Digest and has its own nine-hole golf course. Read more….”

    SWE’s Take: And meanwhile screams at his hamburger flipper pay workers to pay the high rents anyway…

    “… With the current trend toward decluttering and downsizing, there are plenty of books about how to winnow down possessions. “Downsize: Living Large in a Small House” focuses on practical ways to live well after you’ve streamlined your belongings. Read more….”

    SWE’s take: Sounds like a good book nobody in Seattle would ever read…LOL

    Good News: Tiny Homes can be hidden in your parent’s backyard, pretend its a stored RV…LOL…if you’re crafty you can illegally splice into the sewer too, as you splice into the electric power. Dad and mom still get the bills, and the illegal code risks.

  44. 2294

    RE: richard @ 2283
    Yes Richard

    A lot of folks are stuck with Time Shares they never use, sometimes rent is much cheaper. Small plane rental comes to mind too…much cheaper than buying.

  45. 2295
    Blurtman says:

    Hang in there fence sitters – the coronavirus will open up inventory.

  46. 2296
    northender says:

    2020 King County property tax amounts have been released. I’m seeing big increases, some are more than 10% higher.

  47. 2297
    Erik says:

    RE: Blurtman @ 2286
    Add Lyme disease to the coronavirus and this thing could really spread creating lots of foreclosures.

  48. 2298

    Not to Worry

    IMO, the coronavirus could fizzle considerably out soon if the virus mutates more benign, like HIV did. Even the bird flu from Asia was way over played. Watch Ancient Aliens and you’d already know a valid NASA scientific observation, tons of “live” viruses get sprayed on the Earth “mysteriously” continuously and attack the hosts [humans], albeit these same “space” viruses can also mutate so their hosts stay alive too….LOL…that’s why we keep getting new flu viruses. But the coronavirus came from Chinese bats? Perhaps from outer space first and then to bats? Hey, they had the black plague and even yellow fever back in history too [killing off most everyone] with no “new strain” flu shots available at all, even months later after the new “deadly” flu breaks out….FAR WORSE folks.

    I’d worry more about the next big Seattle earthquake making your cement foundations collapse and your homes worthless smashed trash…switch to modular pilings now???, they can take a large richtor scale earthquake and don’t collapse as easily as traditional more expensive stick homes. Put a steel insert in your brick chimneys too. Condos and apartments on cement foundations, same conundrum. The building inspector already classed my modular 1991 design “on pilings” more than capable of withstanding a 7.0 earthquake, it already got a 6.7 and no damage/cracks/leaks.

    https://www.yahoo.com/news/earthquake-experts-lay-latest-outlook-030810234.html

  49. 2299

    RE: northender @ 2287

    While Our Big COLA Wages Went Up Like 2-3%…LOL

    Haven’t got mine yet….but unsold listings are piling up like dirty laundry at the 140 unit Glenbrook modular/land SE King County home development…I’m seeing about 10% of ’em have for sale signs, that weren’t there months ago….no “sold signs” either…LOL

    Good gosh, my property tax “alone” is like $220/mo added in for a 1991 mobile home on pilings, plus a $190/mo HOA fee and fire insurance that’s almost impossible to get [and doubled in price all of the sudden]…LOL…FHA loans are not accepted at Glenbrook either and you can’t rent ’em out, with a dinky car port not allowing 2+ easy cohabitation car storage. Like I say no “sold” signs in months at Glenbrook and its the cheapest out there. You can get a half acre of land with a SFH property tax in Kansas City for less than $90/mo and it went down last year…LOL….with better schools than ours and the same avg Joe $20/hr pay as Seattle…LOL My daughter’s hubby works for a big bank there now and went from like $10/hr P/T pay under Obama to his present “Trump” era , $45-50K/yr salary and no college degree…LOL…my daughter is the housewife, but that’s worth approx $50K/yr if ya have to hire help like Merry Maids.

    Kansas City can get tornado warnings….but no earthquakes generally. My daughter loves to eat out and those two live the “life of Riley”…LOL….living rent free. The home trippled in value too, from my cheap all $CASH$ foreclosure flip total costs [includes code maintenance upgrades, like a new central air and furnace replacement.

  50. 2300

    Gulp Your Yuban Fast and Get ready for Church, the brief Brief was all regurgitated RE news from yesterday:

    “…“PLANT THE WORLD; grow yourself.” For years now, this has been my mantra. Probably like you, a love of plants is what first drew me to gardening. However, lately, I’m looking up from my crowded beds and borders, as personally enriching and grounding as they are, to take a closer look at how my garden […] Read more…”

    SWE’s Take: Plant a tree today? I already ordered my 50 year anniversary Earth Day tee shirts, get your’s too?

    Good News: Even CNN ‘s morning news recommends nuclear power for electric grid capacity increase for the Climate Change agenda to allow electric vehicle evening charges without grid black-outs, without drastic increases in CO2. LOL…nuclear power….SWE’s old forgotten technology better than greenhouse gas causing coal??? Even hydrogen car technology has this new power plant requirement too adding carbon footprint, not reducing it from just oil.

  51. 2301

    BREAKING NEWS

    American Military Bases Just Attacked By Missiles Again. IRAN???

    https://www.dailymail.co.uk/news/article-8009317/Rockets-hit-U-S-coalition-base-Baghdad-no-casualties.html?ico=pushly-notifcation-small

    Like I say Bubleheads, see ya in church…LOL

  52. 2302
    Erik says:

    RE: David @ 2262
    I jack the rent up after a tenant moves out. While they stay there, I’ll only increase the rent like $50/month. The city of Seattle has been raising property taxes faster than I can raise rents.

    2022 I’m planning to rebalance by selling some units and paying other mortgages off so I can collect a passive income stream during the next recession. It seems like that may make me happy. I’d love to rent to Sfrz, Justme, joe, or whoever is predicting this market crash. I will spend their rent to go out to eat or take a vacation or maybe go to the casino. Whatever I spend it on is beside the point. We need the people listed above that don’t understand real estate so we can live a happier life.

  53. 2303
    don says:

    RE: softwarengineer @ 2289

    Good thing you are retired and not in the construction business…

    Google “pilings” and then look under your house and see if that is what’s there. [I can save you some time, it isn’t]

    “crumbling cement foundations” ?? Where? You got your Chicken Little hat on again.

  54. 2304
    don says:

    RE: Erik @ 2288

    Add a lime to a Corona, though, and you got something.

  55. 2305
    David says:

    RE: Erik @ 2293 – I’ve begun the wonder if those homeless encampments have Internet access. If so, you won;t be making any money from them!!

    I thought about Pfft the other day. I was in Lowes buying a 2700-PSI pressure washer and an ugly dude all decked out as an even uglier woman asked if I needed some help. Me (barely able to take the shortest glances possible as to avoid spontaneous explosive barfing) said: “Hell no.”

    Which reminded me of the time I rented a condo to a guy with the same last name as me. One day I had to go into the unit to check on a repair and noticed a bottle of something called “Pig Lube”. I thought it might be a fancy-pants BBQ sauce. It wasn’t. He paid rent great butt I had to hire a company to scald every surface once he left.

    And then the next tenant was more of the same but an even more disgusting individual I forced out with a sneaky ruse involving fake litigation.

    Haven’t heard much from Pfft lately. Maybe on a penicillin drip after a rough night in the “club” ?

  56. 2306
    Erik says:

    RE: don @ 2295
    Could be a foreclosure party as Blurtman is suggesting.

  57. 2307
    Erik says:

    RE: David @ 2296
    I used Loeffler Law group in Seattle last eviction. I’ll never go back to stressing about how to get a tenant out again. They charge by the hour and all that, but it was only like $600 to evict the previous owners after my most recent auction purchase. It took about 3 months, and I got possession of the property. I didn’t think that was too bad considering the previous owner was an ex felon.

    I pay for everything I can and like to be as hands off as possible these days. I use to do a lot of the work myself. I pay eviction lawyers, property managers, remodelers, CPA’s, real estate agents, and anyone that can help me. They do a much better job than me and make my life low stress.

  58. 2308

    RE: Erik @ 2298
    Yes Erik

    Have a friend sign the affidavit of eviction and serve it, saves time and you get the paperwork processed faster. The King County Sheriff does cheap evictions service too.

    The faster ya get the process done the quicker ya get a paying renter again and ya get ’em out as soon as possible to prevent them from destroying the unit in retaliation of eviction.

  59. 2309

    From Evictions to reading the brief Brief, gulp some Yuban and read:

    “… Tacoma real estate is booming. Is that good or bad?
    As more and more people are priced out of the Seattle housing market, Tacoma has been luring them to move south. But at what cost? Buyers are navigating the crowded open houses and fierce bidding wars that used to mark the Seattle market, and longtime residents worry about historically diverse and low-income neighborhoods becoming what one person called “Wonderbread Lands.” This is an aerial view of Tacoma and Commencement Bay, with Dash Point at center right. (Photo: Travis Ness / The Seattle Times, 2018)…”

    SWE’s take: If ya gotta work in Seattle, try Fife instead, ya want to avoid that 4 lanes merging to 1, from the horrifying bridge traffic parking lot near the Dome on north I-5.

    “…Police SWAT officers leave a home in Issaquah’s Montreux neighborhood where two adults and two young children were held hostage at gunpoint for hours. After they were rescued, the home burned, and the gunman is believed to have died in the fire on Sunday. Police are still sorting out what happened and searching the scene for the suspect. Here is what we know so far. (Photo: Ken Lambert / The Seattle Times)…”

    SWE’s take: I was traveling down Kent Kangley recently and saw 10 Kent policeman with assault rifles merging on a Kent apartment house….I floored it to get out there fast. Stray bullets can go anywhere.

    “…Employers are increasingly realizing that a rested worker is a more efficient worker, so some are turning to tech, offering hardware and apps to promote better zzzzzzs. Helpful tool or creepy intrusion? You decide…”

    SWE’s take: If iPhones are allowed at work, what’s the difference whether the employees sleep or just play on their iPhones most of the day?

    “…A great savings tip. Consider investing in a CD. It’s simple. Just make a deposit for a preset timeframe and earn interest. And make sure you shop for a great rate, like this one from Inspirus Credit Union….”

    SWE’s take: At 1-2% for a 10 yr CD, invest in 0-.4% MM instead. Never keep money in locked boxed accounts with chump change low interest rates. 401Ks same conundrum, when investing in safe equities. The rich do this now too.

    “… The new King County juvenile justice facility can assist the county’s aim to transform juvenile court involvement into a catalyst for change, The Seattle Times editorial board writes….”

    SWE’s take: I hope that doesn’t mean letting illegal alien charged felons free, because they’re illegal aliens.

    Good News: Gobble down all the endless shrimp and seafood ya want, they assure us the low level mercury poisoning won’t harm us….the seafood industry that is. LOL

    https://www.healthline.com/nutrition/mercury-content-of-fish

  60. 2310

    I Lack Medical Credentials

    But this latest coronavirus MSM smells of fake news to me…

    https://www.infowars.com/hubei-doctors-warn-of-even-deadlier-coronavirus-reinfection-causing-sudden-heart-attacks/#inline-comments

    BTW, very old people and infants have always had reduced immune reaction to flu. What were their ages in this article?

  61. 2311
  62. 2312
    kenmorem says:

    to those in the know:
    what’s a ballpark current cost for a full bathroom remodel? 70SF. replace everything. modest finishes like you see in current flips on the market.

  63. 2313

    RE: kenmorem @ 2303
    Lord Only Knows kenmorem

    Ya gotta remove the toilet and bathtub to find out that calking is a joke to prevent rot. It scrubs away with a sponge [allowing shower water on floor to seep to wood rot]. If ya gotta replace the sub-flooring down to the frame, you’re talking up to $40K with custom cabinets. Tearing out the old rusted bathtub can have you tearing out rotted wood too [I repainted my old bath tub, but the contractor thought the base floor was OK]. I had a 1953 bathroom partially remodeled, about a $10K cost with custom solid oak cabinets….but the wood under the toilet was marginal and required a special chemical and two weeks drying time to barely fix it. Once ya get a new bathroom without the usual floor rot, switch to adhesives for rot prevention, the calk out there is questionable at best.

    My 1991 bathroom floor is doing great with adhesives too…had my old toilets repaired to code [$1700 for two] the floor had no rot. You can do it yourself [ask Erik} to save a lot of money, but you don’t get the 5 year plumber warranty and your HOA may not approve it either. My sinks are original 1991 ones too, albeit the drain stoppers are junk and break in a decade, I never used them anyway….LOL

  64. 2314

    Time to Replace the Calk With Adhesive in Your Bathroom floors and Guzzle Yuban, While reading the brief Brief.

    “… King County wants to shoot fireworks at bald eagles
    The majestic symbol of freedom has a powerful love of … trash. Eagles have gotten way too comfortable at the county landfill in Maple Valley, with up to 200 of them stopping by for free lunch, then picking up garbage and dropping it in neighbors’ yards. A local wildlife biologist has a whole bag of tricks to make them go away, but now the county is aiming to really ruffle their feathers. (Photo: Ellen M. Banner / The Seattle Times) …”

    SWE’s Take: Eagles feed on fish too, but they’re almost extinct around here now due to OVERPOPULATION…they like rabbits and rats; but GROWTH over building and cutting all the trees down means the rats and rabbits habitats are thinned out too. Hey, leave the bald eagles alone, we stole all their food.

    “…A body has been found inside an Issaquah house that went up in flames after a 16-hour standoff over the weekend. It’s believed to be the brother of a woman who lived at the home, and he’s suspected of taking two adults and two young children hostage before SWAT teams rescued them. Authorities are piecing together how it all unfolded…”

    SWE’s Take: Sounds like depression caused suicide to me. I have a new theory about depression getting much worse now, “low dose” mercury in seafood may contribute/cause it. Enjoy your $9.99/plate endless “low dose” mercury contaminated shrimp…LOL…the medical prognosis on my theory is not there, but I saw a cheerful/happy [lacked depression symptoms] Milenial selling bulk/cheap shrimp and lobster at Winco and asked him if ate any of the seafood, he told me abruptly, “no”.

    “…Shed some of those layers: We’ll feel a blast of dry, warmer weather before the rain rolls in again. It’s not quite T-shirt weather, but we’ll take what we can get in this wetter-than-normal February….”

    SWE’s take: Rain gone and mostly sunny, but its 29 degrees this morning and a high of low 40s. Don’t pack your parkas and ice scrapers away just yet….when morning rain comes and if its still in the 20s, it will be snow. My electric PSE bill for mostly heat peaked this month, but it was $50-70/mo worse with the old furnace.

    “…More than 25,000 Seattle commuters will get a faster ride starting Saturday, when a dozen routes scoot into new downtown bus lanes that pop with “fresh Elmo” red paint. Ferry riders will benefit, too. And more new bus lanes are ahead….”

    SWE’s take: So that means approx 1% (25,000 out of approx 2,000,000 residents) benefit from mass transit, the rest of us eat cake and pay MASS property taxes to burn in Joker’s Batman Cash Pile…LOL…what % of “mostly” empty buses/trains/bikes uselessly roam the city too?

    “The Democratic establishment “should be getting nervous,” Bernie Sanders declared last night as he fired up a crowd at the Tacoma Dome in his first Washington campaign appearance. Sanders had plenty to say about free tuition, affordable housing and Michael Bloomberg (who just qualified for tomorrow’s debate)….”

    SWE’s take: Bloomberg to the rescue, mini Mike can stop Trump. As he pushes against the “deplorables”; like farmers and manufacturing workers. Sounds like a mess for the Democrats now, and a hung jury convention for 2020. I always did like Bernie’s personality the best…LOL

    “…If Washington state lawmakers were serious about embracing transparency, they would end the dubious practice of using “title-only bills,” writes The Seattle Times editorial board. The equivalent of placeholders, they contain little substance and allow lawmakers to skirt deadlines and drop in bill wording late in the session, when proposals are less likely to get the scrutiny they deserve….”

    SWE’s take: Why vote, they ignore the results anyway.

    Good News: The Christian churches have no congregations anymore. Kent’s Zion Lutheran is down to 50 attendance from 300 a couple years ago. Maple Valley’s Neighborhood Church had 10 people attending a $2M church last Sunday with like million invested in sound systems and video cameras replacing live pastors now. Beats me why they all aren’t bankrupt businesses by now. Perhaps we can use foreclosed Christian churches to house homeless and remove property tax fees from them too. LOL

  65. 2315

    Bernie’s the One Democrats

    His rally in Tacoma was packed with 17000 now, time for medicare for all and student loan forgiveness we can’t afford anyway…LOL…beats Bloomberg’s buying out the Democrat convention process….LOL

    If you RE Bubbleheads can figure out where the Democrats are heading, you probably have more prediction ability than a working crystal ball…LOL

    Sounds like a “hung” convention in 2020 to me.

  66. 2316
    Erik says:

    RE: kenmorem @ 2303
    I could get it done for $5k and it would look excellent. For you, it would take more like $15k and not look that good.

  67. 2317

    RE: kenmorem @ 2303

    One of my clients is doing one right now. $13,500. Pretty much agree with Erik’s answer except I don’t know if yours will look good or not. :)

  68. 2318
    Cap”n says:

    RE: kenmorem @ 2303

    $25-30k

  69. 2319
    biliruben says:

    Under a thousand, DYI.

    https://www.mrmoneymustache.com/2012/12/21/how-to-make-a-relatively-sweet-shower-cheap/

    Seattle contractors seem to charge 2-3X anyplace else in the country I’ve ever lived.

    Almost have to DYI to not go bankrupt.

  70. 2320
    David says:

    I’d rip it all out. Put in DensShield for the shower walls. Then the Kerdi system for the shower. Get a tile cutter from Harbor Freight to install a tile design you buy at Floor & Decor at Southcenter Mall. Buy the toilet at Costco. Shower doors from Home Depot.

    If you can do drywall (I did it as a teen one Summer) – it is work but not tough. Floor substrate – 1/4″ hardibacker over OSB? Red Guard the heck out of the floor for tile unless using VCT.

    Don’t use wood anywhere close to the shower – especially shower curbs.

    $3,500 all in?

  71. 2321
    kenmorem says:

    i’ve done full remodels of my own bathrooms for $2k or so. they look better than erik’s. just curious about market rates as i’m short on time and not really that interested in taking on a project at a rental.

  72. 2322
    David says:

    RE: kenmorem @ 2321 – If Bernie Sanders becomes president, you won’t be able to afford a Thetford toilet remodel.

    Is this really what has become of the never-too-bright to begin with Democrats?

    Also, first candidate to call Bloomberg “Emperor Palpatine” to his face on the debate gets my vote in the general election. I predict it will be Trump.

    Trump should show up to a debate with Bloomberg co-splaying Homer Simpson repeatedly referring to Bloomberg as Mr. Burns.

  73. 2323
    Erik says:

    RE: kenmorem @ 2321
    Another lie. Why do you even come on here?

  74. 2324

    RE: softwarengineer @ 2299
    Hey Northender:

    I got my King County property tax assessment for 2020, a 10% increase, at least the HOA fee only went up 3%. I also did my 2019 federal taxes and a couple anomalies came up. They changed the 1040 Form and added “hidden income, foreign banks and deduction” line item visibility. Jumbled the line items up IOWS, making the 2018 1040 boilerplate comparison to 2019 very difficult [you needed to read the 1040 instruction book very carefully IOWs]. A weird change in my dinky 0-0,5% $CASH$ interest from Money Markets occurred too, perhaps we had a significant savings interest peak [that fizzled out later in the year]; whatever happened my interest income trippled in 2019. I saw that in my matching 401K tax free account too…about a 3% interest rate, before it was about 2%. Whatever, I still snagged about 40% of last year’s refund, even with a 9% decrease in 2019 1099R tax revenue [compared to 2018] paid to Trump. My nice sized Trump refund check with more $CASH$ should arrive in a few weeks. If you’re retired with multiple $CASH$ pots to track for the IRS, it means the 1099Rs come in bunches and referencing 2018 1040 data to 2019 understandably mixes it all together too…I learned this year to staple the 1/2 inch 2018/2019 bunches all together separately, so they can be tracked quicker for 2021…live and learn. Or hire the tax guy to do it. LOL

    Its Toastmasters today, I’m the impromptu table topic master today….so my Yuban is already guzzled and I slept well after working my buns off retired yesterday…read the brief Brief:

    “…Boeing may give up the major Washington state tax break that saved it nearly $100 million in 2018. The company is pushing for bills in the Legislature that would ditch the controversial tax break, to avoid European tariffs. One sticking point: what would have to happen for Boeing to get it back later….”

    SWE’s take: Seattle Boeing takes another budget sock in the fiscal stomach…not good.

    Everything else in the Brief was non RE related.

    Good News: I just discovered Anne Rice’s 80s and 90s novels, that in later decades became best sellers too….she should be compared to Stephen King and Dean Koontz in quality/innovation BTW IMO…but yes, gender discrimination among best seller authors then was possibly real. I loved her 1980 Queen of the Damned plot description too….LOL….she envisions immortal beings killing off all the war monger males for peace…LOL

  75. 2325

    The Democrat Candidate Bloomberg Says Asian Country “Fecal” Contamination and Lack of Hygiene by This Type of Ethnic Group Causing Coronavirus Spread:

    https://www.bloombergquint.com/global-economics/fecal-transmission-may-be-behind-coronavirus-s-rapid-spread

    Lock ’em all up in detention camps like WWII Japanese were mini-Mike possibly alleges? Stop and frisk.

  76. 2326
    David says:

    RE: softwarengineer @ 2325 – Bloomberg is probably right. Fecal matter spreads disease.

    This falls into my ongoing series: “Just ask Pfft”.

  77. 2327
    kenmorem says:

    By Erik @ 2323:

    RE: kenmorem @ 2321
    Another lie. Why do you even come on here?

    what’s the lie?
    $600 for tub. $400 for glass door. $500 for tile + wedi board + mud + grout. $100 for flooring. $50 for paint. $100 for trim. $300 for vanity. total = $2050. add in $200 for 2 doors if you like. and sales tax. still in $2k range.

    for a supposed engineer, facts don’t seem to be your strong point.

  78. 2328
    Erik says:

    RE: kenmorem @ 2327
    You told me you are 39 and you own your primary residence and a condo in Queen Anne outright. I asked how that was possible and you said you made extra payments and were frugal.

    So you paid like a million dollars in extra payments during the time when you were probably in school, dating, etc. Doesn’t add up. You’d have to make $250k/year and be a complete loser with no life with lots of discipline.

    I’ve read what you’ve posted over the year and could easily tell you had no idea what you were talking about on many points. Then you’d pretend to understand when you obviously don’t. So you have a past of being untruthful and you tell a highly improbable story. Doesn’t add up.

  79. 2329
    Erik says:

    RE: kenmorem @ 2327
    Now you are claiming you are a master craftsmen that can get stuff done cheaper than people that do this for a living. More BS!

    You are have mastered finances and mastered remodeling while in your 30’s. And your comments have indicated you are someone with a low intelligence that does not understand either subject. It’s a huge stretch if you want readers to believe this garbage.

  80. 2330
    Bumble says:

    By softwarengineer @ 2325:

    The Democrat Candidate Bloomberg Says Asian Country “Fecal” Contamination and Lack of Hygiene by This Type of Ethnic Group Causing Coronavirus Spread:

    https://www.bloombergquint.com/global-economics/fecal-transmission-may-be-behind-coronavirus-s-rapid-spread

    Lock ’em all up in detention camps like WWII Japanese were mini-Mike possibly alleges? Stop and frisk.

    You do know the link you provided is a story published by Bloomberg News, right? The story, written by someone named Jason Gale, has nothing to do with “The Candidate Bloomberg.” It is based on the findings of Chinese researches. Other outlets, like Newsweek, are reporting this same story. And yet somehow, you think this news story might mean that Mike Bloomberg, the person, is an anti-Asian, pro-detention, racist. Do you see how crazy that is? Do you see how it has nothing to do with Seattle real estate? This is insane. PLEASE STOP.

    I know i’m wasting my keyboard strokes, but before you post something on this real estate blog, stop and ask yourself, “does my post have anything to do with Seattle real estate, anything at all?” If the answer is “no,” I beg you, I beg you….mercy.

    This isn’t about disagreeing with your politics. It isn’t about free speech. It is about you being wildly and consistently off-topic. Would you post these comments on a cooking blog? A blog for parents raising children with special needs? A blog about woodcarving? Remember, this is a blog about Seattle real estate.

  81. 2331

    RE: Erik @ 2328
    If I Was Flipping Quick to Sell

    The Hades with the bathroom wood rot inspection costs?, even if it needed it…let the next owner replace the base flooring, as long as it isn’t squishy to step on and the toilet isn’t tilted or rattles….LOL…I’m on Erik’s side. BTW, renters are hard on base floors leaks/rot….especially if they cover it up.

    I rebuilt my “large flush” old fashion toilet with new innards too, rather than stick a small flush capacity cheap new in. Its more expensive, but the water saved on double/triple flushes will cover the costs in time…LOL

  82. 2332

    RE: Bumble @ 2330
    LOL…Bumble

    Politics on taxes and health care costs have nothing to do with RE planning?

    Do you live on Mars?

  83. 2333

    Bumble’s Grumbling, But He’s Scant on Common Sense Planning for RE Investing In my Book, so grab your Yuban and read the brief Brief and Ignore Bad Advice:

    “…A man was found dead outside the King County Sheriff’s Office in Maple Valley this morning. The man, who had a gunshot wound, is believed to be the husband of a woman who was found dead in the couple’s home earlier this week…”

    SWE’s Take: More “inner city Detroit Violence Hits Seattle Area”, the almost daily beat goes on….

    “…Washington’s ferry fleet may lose one of only two ferries that can make the crossing from Anacortes to Sidney, B.C. Budget cuts threaten the Elwha ferry, and its loss “would be devastating to this community,” Anacortes’ mayor says….”

    SWE’s Take: Keep this in mind if you need access to Canada soon.

    “…An Auburn man who vanished two years ago was killed and dismembered, court records say. First-degree murder charges detail what led authorities to Two Dogs Salvatore Fasaga two years after his old juvenile-rehab acquaintance, Paul “Hound” Snarski, disappeared…”

    SWE’s Take: Horrifying Seattle Area murder just solved off missing person file.

    Good News: I asked my Toastmasters Club [non-partisan BTW] did they want to raise the “middle income” tax tables to the old Democrat tax tables that Obama [Biden too?] used? The answer was almost unanimous [most are Democrats too] and simply, “no”. Bumble thinks we’re nuts….LOL…BTW, does Bumble want to raise middle income tax Phase I Trump tables for 2020? Bumble alleges it won’t affect RE financial planning?

  84. 2334

    More “Inner City Detroit Type” Violence in Seattle Area

    https://www.yahoo.com/news/suspected-bank-robber-seattle-arrested-005550441.html

    Add this to the other stories today. How many unsolved murders and other violence is not reported? Lord only knows.

    But Bumble alleges neighborhood livability won’t affect RE in Seattle? That’s exactly what they preached right before an avalanche of evictions and foreclosures in Detroit too, due to violence.

  85. 2335
    Beano says:

    By Erik @ 2329:

    RE: kenmorem @ 2327
    Now you are claiming you are a master craftsmen that can get stuff done cheaper than people that do this for a living. More BS!

    You are have mastered finances and mastered remodeling while in your 30’s. And your comments have indicated you are someone with a low intelligence that does not understand either subject. It’s a huge stretch if you want readers to believe this garbage.

    Seattle Bubble? Pfft…. try Seattle Beatdown!

  86. 2336
    Brianna says:

    Here’s some RE related news:

    “Thinking about buying a home in Seattle? New study finds it might be better to rent”
    www. komonews.com/news/local/thinking-about-buying-a-home-in-seattle-new-study-finds-it-might-be-better-to-rent

  87. 2337

    10% of the 140 Modular Homes Have Been Listed This Month In SE King County

    And no “sold signs” out there.

    Your bank and escrow title holders can help…I’d call ’em. I own the Title, and also knew my modular insurance Declaration came [approved???] to me in the mail last November for 2/20/20 renewal. I had to call my insurance company yesterday, because automatic monthly payments for fire insurance were late. They fixed it after I called. The debit shows today for 20/2020.

    Your mortgaged house contract [and home is unsellable] is null and void with no fire insurance BTW and banks may not be as thorough as SWE. Be sure to emphasize its a permanent structure modular home on a lot with no wheels and axle to the insurance company, it sure could explain why nothing is selling right now in Glenbrook. The banks are understandably slow getting it fixed????

    Also the “mobile home” structure is King County assessed now at around $200K….the insurance companies know my new mobile home with wheels and axles goes far a lot less than that. I do hope your bank is a good Toastmaster…LOL…ask Ardelle or S-Crow, this is a likely “modular home insurance” mess.

  88. 2338
    Eastsider says:

    FYI – US 10yr treasury yield hit 1.44% this morning. It is at the lowest level since July 2016.

  89. 2339
    kenmorem says:

    By Erik @ 2329:

    RE: kenmorem @ 2327
    Now you are claiming you are a master craftsmen that can get stuff done cheaper than people that do this for a living. More BS!

    You are have mastered finances and mastered remodeling while in your 30’s. And your comments have indicated you are someone with a low intelligence that does not understand either subject. It’s a huge stretch if you want readers to believe this garbage.

    more republican style name calling. debate the numbers. see where i’m wrong.
    i’m sorry that i worked construction building houses when i was aged 14-22 and have an advantage on you.
    i’m sorry that i’m better at handling my money than you.
    i’m sorry you’re bitter.

  90. 2340
    Ardell DellaLoggia says:

    RE: Eastsider @ 2338

    30 year hit an all time record low.

  91. 2341
    David says:

    By kenmorem @ 2339:

    By Erik @ 2329:

    RE: kenmorem @ 2327
    Now you are claiming you are a master craftsmen that can get stuff done cheaper than people that do this for a living. More BS!

    You are have mastered finances and mastered remodeling while in your 30’s. And your comments have indicated you are someone with a low intelligence that does not understand either subject. It’s a huge stretch if you want readers to believe this garbage.

    more republican style name calling. debate the numbers. see where i’m wrong.
    i’m sorry that i worked construction building houses when i was aged 14-22 and have an advantage on you.
    i’m sorry that i’m better at handling my money than you.
    i’m sorry you’re bitter.

    Trump absolutely butt-raped Joe Biden. RIP Joe Biden. RIP Poca.

  92. 2342
    Ardell DellaLoggia says:

    Just saw the first rate drop in awhile on mortgages. 3.25% with a 3.38% APR.

  93. 2343
    David says:

    RE: Ardell DellaLoggia @ 2342 – Wow. That is cheap money.

  94. 2344
    Erik says:

    RE: kenmorem @ 2339
    How do you know what I have? You keep saying you are doing better than me. How do you know that?

  95. 2345
    kenmorem says:

    By Erik @ 2344:

    RE: kenmorem @ 2339
    How do you know what I have? You keep saying you are doing better than me. How do you know that?

    because you told me so, several blog posts back. i’m too lazy to go and look it up, so you can have fun looking for it.

  96. 2346
    Eastsider says:

    RE: Ardell DellaLoggia @ 2342 – Perhaps we will see sub-3% mortgage rates this year.

  97. 2347
    David says:

    RE: Eastsider @ 2346 – I wonder what an interest only loan rate is right now. Interest only, adjusting every 6 months (1 year), for 10 years.

  98. 2348
    Erik says:

    RE: kenmorem @ 2345
    Well, I don’t remember saying that because I would be lying and I’m not a liar.

  99. 2349
    Erik says:

    RE: kenmorem @ 2345
    Reread kenmoron. You are wrong as usual.

  100. 2350
    Erik says:

    RE: Ardell DellaLoggia @ 2342
    Evergreen told me 4.375% on my preapproval for my investment property In Rainer. I asked why so much and the loan man said it’s more because it’s an investment property and I’m pulling a lot of money out.

    I’m only wanting 75% LTV but for whatever reason, the rate is higher because I’m pulling money out on an investment property per loan man.

    Does that sound right to you or do you think I’m getting jacked? It’s a 30 year conventional loan btw.

  101. 2351

    RE: Erik @ 2350

    Generally a cash out refinance of an investment property is not as low as a Purchase Loan of a single family residence that will be owner occupied. This is not a question you put out in public Erik as the answer involves some things I know in confidence. I’ll answer you further in private.

  102. 2352

    RE: Justsomedude12 @ 2291
    A Piece of Paper Saying Your House Went Up in Value

    Won’t put burgers on the table.

  103. 2353

    All the News is Just Coronavirus and Endless Russia Allegations Now, Let’s Center on Just the Seattle RE Tidbits With Our Yuban Mugs and Read the brief Brief:

    “… For 26,000 Seattle commuters, a better ride has arrived
    Commuters will get a faster ride starting today, when a dozen routes scoot into new downtown bus lanes that pop with “fresh Elmo” red paint. Ferry riders will benefit, too. And more new bus lanes are ahead. Read more…”

    SWE’s take: I see, we paint all the Seattle Road Lanes RED for Buses Only and Phase out Cars 26,000 at a time…

    “…Boeing has ordered inspections of all the undelivered 737 MAXs after it discovered debris that mechanics left inside the wing fuel tanks of several of the aircraft. Read more…”

    SWE’s take: This Foreign Object Debris [its called FOD folks] can be anything from paperback books the workers read at work to steel wrenches, etc….

    “…The Seattle City Council has voted to allow up to 40 tent cities, tiny-house villages, or parking lots for people living in their cars — a huge increase. Read more….”

    SWE’s take: Who pays the land costs and utilities? the tooth fairy? How many homeless per location? ten?

    “…Weary of big-city crime? Take a look at the newly named safest city in Washington, a ferry ride away. Researchers used FBI crime statistics to rank the safest and least-safe cities around the state. Read more…”

    SWE’s take: Yeah, low population density areas with no jobs have less crime…LOL

    “…Today’s kitchen is more than a room for preparing food. Every inch should be packed with helpful features, aesthetic splashes and a sense of security. See what’s cooking in 2020 with hot new kitchen features that reflect these goals, and then some. Read more….”

    SWE’s Take: Just throw mindless money at it and it will be money down the drain when you resell.

    Good News: Do Your 2019 Federal Income Taxes and Compare the tax bill to a few years ago using old higher Obama tax tables.

  104. 2354
    ohd1122 says:

    So, still monitoring the north Kirkland area (mainly 98034) and Bothell in the $500-$700K range. In the past few weeks, I have seen inventory come online and things that IMO are worth a second look. It feels to me like there has been more steady inventory in this price range so far this year and in the later half of last year, but that’s just a feeling. So that’s the (potentially) good news for me. I recall Ardell saying this price range is becoming a smaller percentage of total homes over time in the area and I would trust Ardell more than me.

    The unmistakably bad news for me is that every single one of these homes has gone pending within a week*, and one of them went pending in two days. Unsurprisingly, there is pent up demand at this price point in this area and buyers are not waiting around. Too early to tell for sure, but I assume at least some of these homes have multiple offers and will sell above asking. Recent closed sales are mainly from December when the market was slower and closed at or just slightly above asking.

    Will keep monitoring. Should be an interesting spring.

    *technically one went pending in eight days but I’m counting it

  105. 2355

    RE: Ardell DellaLoggia @ 2351
    Yes Ardelle:

    I asked a Glenbrook HOA home owners if any of the “unsold” 140 units for sale have sold yet [about 10% of total listed the last few months]. One owner said “none”, albeit one said “one”….she thought it was an all $CASH$ deal not requiring fire insurance. Yeah, we got homes for sale cheap at Glenbrook…likely only $CASH$ allowed if insurance is “suddenly” cancelled [it appears it might have happened again to me]. You don’t need house fire insurance if you own the deed.

    I had to call my insurance company to get them to debit my checking account to reactivate it by the Declaration 2/20/20 deadline….they did. But since when does automatic insurance payments need reactivation by owners with deed? I’ve never seen this before. If you don’t call, you have no insurance.

  106. 2356
    justsomedude12 says:

    RE: softwarengineer @ 2352 – Not sure what you’re saying here. My post #2291 is saying one should view their home as a place to live, rather an investment vehicle.

  107. 2357

    RE: Ardell DellaLoggia @ 2340
    Yes Ardelle

    I saw that too.

    What gets me Ardelle is my $CASH$ money market bank account interest tripled in 2019 from 2018. Maybe the banks are “recently” bidding for depositors? LOL…Its not like the $CASH$ in the bank tripled in one year either. Hey, the interest income may be low on $CASH$, but its better than a kick in the pants…LOL

  108. 2358

    RE: justsomedude12 @ 2356
    Yes

    Homes are a poor investment package, ya can squeeze more money out of them with “refinanced” lower rates, but end up paying decades later for interest too in lower monthly payments. With low COLA growth, that can be detrimental to retirement planning later. That’s why I’m neutral on finance planning, but try to stick to “long-term” growth planning in my book, rather than “short-term” elongation of smaller mortgage interest payments.

  109. 2359

    RE: ohd1122 @ 2354

    The number of days being 2 or 8 really has more to do with the review date in most cases. Most “can’t” sell in 2. This is the best strategy this time of year because people come home from work in the dark and seeing and picking a house you have only seen in the dark is not a good thing. Anything sold in the first week is pretty equal as to time to sell and yes, most anything sold in the first week is going to sell at full price or better. So list on Thursday with offers looked at the following Monday, Tuesday or Wednesday is very much a factor.

    Don’t feel too badly about the $500,000 to $700,000 price range as I am looking from $600,000 to $1,200,000 in Kirkland, Bellevue, Redmond and maybe Sammamish-Issaquah and the inventory hasn’t been better up to $1.2M. So don’t feel like your price range is making a significant difference given you have appropriately positioned your search to 34Kirkland and Bothell.

    The year ALWAYS plays out this way and this year is no different. Nothing worth seeing then 1 iffy decent one a week. This week I’ve targeted 3 decent ones that were better than last week’s iffy ones. So yes and I do think the weather helped. Actually I just remembered I have 4 this week, but one is a view condo. 3 are houses in Kirkland and Redmond.

    You say unfortunately for you they sold in a week. You have to be ready to buy in that time by review date. If you don’t want to spend more than $680,000 then don’t look over $650,000. If you are waiting for a decent house in that price range to stay on market long enough for you to offer less than asking, you are going to end up with the house no one wants. Not good. This week is the first real week of the season. If it snows in March like it did last year, we can have a stall. If not it will keep progressing at 3 to 5 good ones a week through July or so. But they are not likely to linger on market without good reason.

    Why do you say unfortunately for you they sold the first week on market? That has been a reality for many years for the best of houses that are priced well. You have to up your game on that. No reason you should see that as a negative.

  110. 2360

    RE: softwarengineer @ 2355

    I don’t know where you get 140 being for sale. I did see one sell but I didn’t see more than a few being currently for sale. How can there be 140 for sale in one older neighborhood? I don’t see that. Are they all private offerings?

    As to insurance, I just warned one of my daughters to check into recent developments in the insurance industry.

    I just saw Anthony Hopkins listed his Malibu house. The fire last season stopped at his next door neighbor, destroying the next door house without damage to his. Of course he’s not selling because of anything to do with a fie. ;) I wouldn’t be surprised if the buyer will have to pay through the nose to get insurance. The cost in the new map of fire prone areas has expanded dramatically somewhat like flood insurance. That IF they will insure it at all. Cash buyers will have to protect themselves as the ability to cancel if they can’t get insurance as that legal out may not be in a cash buyer contract in all fire prone areas.

    Just like after Katrina, insurance companies are being overly cautious everywhere given the hit they’ve taken due to all of the wildfires in the last couple of years.

  111. 2361

    This Useless URL by Forbes has been Around For Years

    LOL…finding the states where everyone is fleeing will take a half hour slow slide show wait. Its called fake news, because no one has time to open it….LOL

    https://www3.forbes.com/leadership/the-u-s-states-people-are-fleeing-and-the-ones-they-are-moving-to-vue/?utm_campaign=states-people-are-fleeing&utm_source=yahoo-gemini&utm_medium=yh147896n1us203040&lcid=yh147896n1us203040&utm_content=${PUBID

  112. 2362

    RE: Ardell DellaLoggia @ 2360
    10% of 140 For Sale:

    Fourteen units approximately.

    That’s a huge percentage compared to all SFHs in Seattle area.

    There’s really only one insurance company that sells “double priced” modular fire insurance, Foremost, and the other “big” insurance companies subcontract to them. There’s another company besides Foremost, but the rates are doubled again.

  113. 2363

    RE: softwarengineer @ 2362

    “…unsold” 140 units for sale have sold yet…” Glad that was a typo. :) 14 sounds more realistic and last I looked most of those were not listed in the mls if there are indeed 14.

  114. 2364
    ohd1122 says:

    RE: Ardell DellaLoggia @ 2359

    Absolutely agree. My intent was to just point out that demand, and thus competition, has not dwindled and therefore buyers shouldn’t expect a market that is materially different than what they have been experiencing for the past few years. It’s more of the same: limited supply, lots of demand. If you want to close on a house, you need to be ready and watching the market or you’ll be left in the dust. If anything, things are hotter now than they were in the Fall when I DID see a few houses sitting on market for 30-60 days even though they looked good. This might just be a seasonality thing.

  115. 2365
    Ardell DellaLoggia says:

    RE: ohd1122 @ 2364

    Agree.

  116. 2366
    CB says:

    I was thinking the same thing… Is Tim okay?!?! Or can only members see the updates?

  117. 2367
    Ardell DellaLoggia says:

    RE: CB @ 2366

    I emailed him awhile back and he didn’t answer but he posted on his facebook a few days ago, so I’m pretty sure he’s OK.

  118. 2368
    sfrz says:

    RE: CB @ 2366 – He’s been posting on his Twitter account. Just a few days ago, Feb 19:
    “ɯı⊥¯ǝɥ⊥
    @The_Tim
    This tiny house (really <1,000 sqft)—on one of the busiest streets in my neighborhood, with no yard to speak of—hit the market just 4 hours ago and already has 45 favorites on Redfin. This #HousingMarket is nuts. #RealEstate https://redfin.com/WA/Everett/350&quot;
    3502 Colby Avenue

  119. 2369

    RE: sfrz @ 2368

    His last Tweet on his SB Twitter was back when Wendy Lister passed away dated 10/3. On his personal account that you posted it says ” Tweets NOT endorsed by my employer, @Redfin”

    I think something happened at work that has caused him to not only not post here but also to not explain why he can’t post here. So no news is good news in that if he does come back that means he’s out of work, which happened before.

    So let’s with him well as his family needs him to have a job more than they need him to post here. :)
    .

  120. 2370
    Voight-kampff says:

    RE: Ardell DellaLoggia @ 2369

    I like that you all help to keep this place alive, you know? to leave the light on for the Tim.

  121. 2371

    RE: CB @ 2366
    Good Question

    Last I heard Tim and his spouse adopted a child, and that may be absorbing his time, understandably too. I don’t know how the Hades I worked full time and raised two kids [one is severely disabled] by myself too. You learn to juggle…LOL

  122. 2372

    My Next Door Neighbor is 58 Years Old and Has Three Adult Children Still Crammed in His 3 BDRM

    Add in his 10 year old daughter…four kids. He recently got off unemployment and got a programmer job at Starbucks….but let’s put it this way, it don’t sound like the project manager job he once had at MSFT for twenty some years, before the unexpected layoff about 4 years ago. I spoke to his 30 year old daughter and she told me she works seven days a week at COSTCO, the other two adult kids evidently don’t work to date, to my knowledge. My gosh, it sounds like 3 of the daughters share a single bedroom.

  123. 2373

    RE: Ardell DellaLoggia @ 2363

    The For Sale Signs I See are Various Realtors Too

    Maybe I’m paranoid Ardelle for the sellers/buyers due to lack of “sold” signs, but being retired with the deed, unless I have a house fire [which I can afford to fix with $CASH$ anyway] I don’t need fire insurance to live here, but have it anyway.

    I keep fire insurance on my flipper too and I own the deed.

  124. 2374

    More Inner City Detroit Type Violence In the Seattle Area Last Night on National News

    https://www.washingtontimes.com/news/2020/feb/23/bernie-sanders-seattle-campaign-headquarters-vanda/

    Glass smashing occurs at coffee shops in Seattle too…poor Bernie, he didn’t deserve the “brick through the window”. Sounds like the criminal runs free too. Very upsetting.

  125. 2375
    sfrz says:

    RE: Ardell DellaLoggia @ 2369 – I enjoy and follow this Twitter account. His puppy, his podcast reports and his daughter fill the tweets. There is more to life.

  126. 2376

    RE: sfrz @ 2375

    We can just quote him from his Redfin writings, this from Feb 13 “Home Prices Rose 7% in January, Housing Supply Fell 11%” :)

    I don’t think he doesn’t have the time, I just think Redfin owns what he says so he has to say it there and we have to read it there. I was thinking maybe he can just put a link to there here as a post and then we can talk on that. :) I’ve also been thinking there are several posts on page one of this blog with no or almost no comments. Maybe we should share the love and comment on a post with none instead of this one.

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