This weekend’s open thread touched on one example of a bank bidding nearly 25% less than what it was owed for a foreclosed home at the courthouse auction. Well, our good friend Jillayne Schlicke over at Rain City Guide actually attended a foreclosure auction a week ago, and wrote up an interesting post on this…
Category: News
News, current events, etc.
Cramdowns Rejected by Senate, Appraisals Insulated from Banks
Two good news stories on the national front that are worth sharing this morning. Story 1: Senate Defeats Mortgage ‘Cram-Down’ as Democrats Balk The U.S. Senate rejected a measure that would let bankruptcy judges cut mortgage terms to help borrowers avoid foreclosure, a victory for banks and credit unions that said the legislation would increase…
Vulcan’s Rollin Street Flats to Convert to Apartments
I received an email tip from a reader that Vulcan’s Rollin Street Flats, a 197-unit condo building in South Lake Union is officially going apartment. Just four days ago, the Seattle Times reported that Vulcan had “pushed back the start of closings on its nearly finished Rollin Street Flats project.” An email being sent to…
Reminder: Robert Shiller at SPU Today at 1PM
Don’t forget that Robert Shiller (yes, the Shiller in the Case-Shiller Home Price Index—which comes out again tomorrow) will be speaking at Seattle Pacific University today from 1:00 PM to 2:45 PM. The event is free and open to the public. Hit the SPU website for more info. I will be attending the afternoon session…
Reader Negotiates 25% Rent Discount from Equity Residential
I received this rental negotiation success story from a reader via email, and thought it was worth sharing: As a long time reader of your Seattle Bubble Blog, I knew that rents on their way down in King county. My Equity Residential owned apartment building in Redmond has experienced some huge increases in recent years,…