If you live in Seattle and don’t own a home, you probably think that the real estate bubble is nothing but trouble. Well it’s about time that the bubble did something for you. A hot real-estate market is going to help Seattle residents cut their losses as the city shakes off the collapse of the…
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News, current events, etc.
Flipping Fosso Of Seattle
The Seattle P-I shares the tale of a local flipper who does more than the buy, sit, flip that has become popular with the real estate explosion. “Buy, fix, flip” actually sounds like an understatement for this guy: The living room of the old Ballard house is redolent with the scent of freshly laid oak…
Olympics To Blame For "Balanced" Market
Here’s a media report on February’s numbers from the Seattle Times, who says that "prices remain buoyant." The housing market around Puget Sound has slowed from its blistering pace of a year ago, meaning some sellers don’t get multiple offers and some have to lower their prices. But prices remain buoyant, with the median sales…
More Fuzzy "Affordable" Math
Yet another government-subsidized "affordable housing" project is going up downtown, with the Mayor and other high-rollers attending the big kick-off ceremony last week. Built to help address the city’s shortage of affordable homes, most of the building’s 19 new condominiums will be affordable to households earning less than 80 percent of the area median income….
HouseValues’ Value Drops
Despite Seattle’s resilience so far, the deflating bubble elsewhere around the country continues to affect businesses based in the Seattle area. The latest victim—HouseValues—took a hit last week. Last year’s booming housing market helped pump up 2005 profits at Kirkland-based HouseValues, but the company’s forecast for the current year led to a 28 percent stock-market…