local real estate news, statistics, and commentary without the sales spin.
This poll was active 11.03.2013 through 11.09.2013
A number of you took issue with my data-backed claim that foreclosures are proceeding in a normal, orderly fashion and shadow inventory is a non-issue in the Seattle area. Your main objection seems to be based on a belief that there are large numbers of homes with mortgages that the borrower has stopped paying months…
For some reason, a couple weeks ago the Seattle Times website featured a syndicated article about RealtyTrac’s “Vampire REO” nonsense, which in addition to being a completely worthless bit of non-news, was already weeks old when it appeared on the front page of the Seattle Times website. In the comments to the article I did…
Let’s check out the three price tiers for the Seattle area, as measured by Case-Shiller. Remember, Case-Shiller’s “Seattle” data is based on single-family home repeat sales in King, Pierce, and Snohomish counties. Note that the tiers are determined by sale volume. In other words, 1/3 of all sales fall into each tier. For more details…
Let’s have a look at the latest data from the Case-Shiller Home Price Index. According to August data, Seattle-area home prices were: Up 0.5% July to August Up 13.2% YOY. Down 16.6% from the July 2007 peak Last year prices fell 0.1% from July to August and year-over-year prices were up 3.4%. Although the month-over-month…