Interesting story from Kirsten Grind over at the Puget Sound Business Journal: Experts see more subprime-loan pain ahead Another big wave of subprime mortgages will see interest rates reset to a much higher rate over the next six months in the Seattle area, an indication that the Puget Sound region might still be facing further…
Category: News
News, current events, etc.
WCRER: Affordability Drops Again
The Washington Center for Real Estate Research posted their latest “Market Snapshot” data (pdf) this week. Here’s an article on the data from the Times: Home sales still sliding in state, Puget Sound region WCRER director Glenn Crellin continues to blame the media and buyer fear for the floundering market: “Buyers see and hear stories…
Foreclosures Up 41% YOY Around Seattle
Foreclosures in the Seattle area were up 41% year-over-year, according to a report from RealtyTrac. Seattle-area foreclosures continued to rise in July, according to a new report. The area, defined as King and Snohomish counties, had 1,030 properties with foreclosure filings, up 41 percent from a year earlier and 13 percent from June, according to…
New Market Analysis Tools from Redfin
Redfin rolled out some great new statistical features today that are definitely worth mentioning. Automated market statistics broken down by city, neighborhood, or zip code, with charts showing inventory, price per square foot, and price reduction trends over the last year. CEO Glenn Kelman announces the new features in a blog post today: Redfin released…
“Vast Majority” of Buyers Bail, Moda Condos Goes Rental
Lots of local real estate news hitting today. Here’s another short one: Moda Condos in Belltown goes rental. When Moda Condominiums started accepting reservations in September 2006, prospective buyers lined up hours early and quickly locked up all 251 units. Now, with the Belltown building two months from completion, Moda’s developers have changed it to…