Rose-Tinted Listings

I get the feeling that someone at Inman News has been reading Seattle Bubble lately… Check out this story about the misleading descriptions real estate agents sometimes write for properties. Do you steam when you follow up on a newspaper advertisement for “cozy cottage” and find a falling-down fixer? Can the term “waterfront access” accurately […]

Sell It In The Slow Season

Story from, November 26, 2006 Summer, the prime time for selling a home, was approaching and Jeanne and Eric Mehan wanted to sell fast. In the rush to sell before fall, the Woodinville couple acted on some bad advice. Put it on the market, full of clutter, not cleaned, at top price, even if […]

Trend: More Price Reductions for Seattle

From Bubble Markets Inventory Tracking: Percentage of Reduced Listings Per Market. Ventura County:10/22: 51.3%—> 11/18: 50.3% Sacramento Metro:1/30: 30.5%—> 10/20: 49.0%—> 11/18: 49.0% Orange County:1/30: 22.8%—> 10/20: 45.8%—> 11/18: 45.0% San Diego County:1/30: 26.3%—> 10/20: 43.9%—> 11/18: 42.9% Phoenix Metro:1/30: 28.0%—> 10/20: 43.2%—> 11/18: 42.2% Riverside County:1/30: 27.3%—> 10/20: 40.2%—> 11/18: 39.5% Las Vegas Metro:1/30: […]

WCRER: Affordability Continues To Drop

The Washington Center for Real Estate Research (WCRER)has released their latest affordability statistics. Unsurprisingly, home affordability in King County dropped yet again, reaching a new low of 69.2. Here’s your latest graph of WCRER’s index since 1994: Click to enlarge The decline in affordability from Q2 to Q3 was relatively minor, due to lower interest […]

Congratulations, You’re A Homeowner… Psych!

King 5 News reports on a home-buying scheme that has ensnared at least a few unsuspecting victims: Imagine buying a home and moving in, only to find out later that the house was never yours at all. It’s a mortgage scheme that’s caused financial pain and heartache for many families in Western Washington. It’s a […]

Seattle Bubble Stats: Where are the Condos?

The question was asked on my number-crunching post last week of why I do not include condos in most of the statistics that I post here. Since that is a valid question that other people may be wondering as well, I thought I would post the answer where it will gain more visibility. I choose […]

The Puget Sound "economic" levee: will it hold?

From Business Week: “St. Louis Fed president William Poole said, according to Bloomberg News. ‘As long as the housing problem remains confined to housing, there’s really nothing the Federal Reserve can or should do.’” Realistically, I don’t think this will be the case. From a business perspective, I’m watching cash flow more intensely than ever. […]