Let’s check in again on the cheapest homes around Seattle proper. Here’s our methodology: I search the listings for the cheapest homes currently on the market, excluding short sales, in the city of Seattle proper. Any properties that are in obvious states of extreme disrepair based on listing photos and descriptions will be excluded. This…
11.5 Million More Foreclosures? Bring Them On!
Jon Talton over at the Seattle Times pointed me toward an interesting paper by Amherst Securities Group titled The Housing Crisis—Sizing the Problem, Proposing Solutions (pdf). Here’s their conclusion (emphasis mine): If governmental policy does not change, over 11.5 million borrowers are in danger of losing their homes (1 borrower out of every 5). Politically,…
Nov. Reporting Roundup: Pretend Pending Party Part 2
It’s time once again for the monthly reporting roundup, where you can read my wry commentary about the news instead of subjecting yourself to boring rehashes of the NWMLS press release (or in addition to, if that’s what floats your boat). First up, let’s have a look at the source material from the NWMLS itself….
NWMLS: Closed Sales Still in the Gutter, Median Price Falls to a New Post-Peak Low
November market stats have been published by the NWMLS. Here’s their press release: November’s home sales rose modest 2 percent, surprising some Northwest MLS Brokers. Northwest Multiple Listing Service members recorded a few pleasant surprises last month. Pending sales during November outgained the same month a year ago, marking the first year-over-year increase since April,…
The Avondale Albatross Now Bank of America’s Problem
The saga of the Avondale Albatross continues… A brief history of this 4,900 sq. ft. spec home on 3 acres north of Redmond: 2006-06: Originally spotted here, priced at $1,625,000 2006-08: Price drop to $1,495,000 2006-10: Price drop to $1,275,000 2006-11: New brokerage, still asking $1,275,000 2007-02: After 9 months on the market, finally sold…