Due to the definition change by the NWMLS in both the numerator and the denominator in the “months of supply” calculations, I am changing the regular monthly neighborhood update to Seasonally-Adjusted Active Supply (SAAS). For an explanation of what seasonally-adjusted active supply is, please refer to this post. Also, you may view a map of…
Author: 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.
Spec Builder Spectacularly Miscalculated Market
KIRO radio ran a mildly interesting piece about a spec builder in my neighborhood with especially poor timing: Local spec homes sit empty, cheap. What started as a fun project turned into a nightmare for a builder in Kenmore. Ken Youch, with Kenmar Construction, is happy to give tours of any one of the million…
Weekend Open Thread (2009-06-26)
Here is your open thread for the weekend beginning Friday June 26th, 2009. You may post random links and off-topic discussions here. Also, if you have an idea or a topic you’d like to see covered in an article, please make it known. Be sure to also check out the forums, and get your word…
Boo-Hoo: Tighter Standards Help Kill Chances of Bubble Returning
I’m starting to sense something of a theme in some recent news pieces about the housing market. Consider the following quotes from two recent articles (emphasis mine). Reuters, June 22: Two U.S. Democratic lawmakers want Fannie Mae and Freddie Mac to relax recently tightened standards for mortgages on new condominiums, saying they could threaten the…
Tacoma Luxury Condo Project Headed for Foreclosure
Regular readers may recall this post from last October: Construction Defaults Over 10%, Tacoma Condos Empty. Tacoma News Tribune: Downtown condo sales at a crawl How’s the market for condominiums in downtown Tacoma? “What market?” says Judy Mayfield, head of sales for The Esplanade, the 162-unit project on the Foss Waterway, now nearing completion. After…