Speaking of developers having financial trouble, the Puget Sound Business Journal has a story up today about a major local commercial developer on the rocks: Developer Mike Mastro’s troubles mount. A longtime, prominent Seattle developer is facing a mounting string of legal actions as he struggles to pay off millions of dollars in loans at…
Stalled Development Map Update, Developments in Foreclosure
Just a quick update on the Seattle Bubble interactive stalled / slow development map. So far readers have contributed 48 stalled and/or slowed residential developments in the greater Seattle area. The greatest concentration by far is in the Bothell area, which may be due primarily to the fact that that’s where a few especially prolific…
Median Price Still Being Distorted by Geographic Shifts in Sales
It’s been nearly two years since we originally detailed how changes in the sales mix affects the median price, and with King County’s SFH median bumping up over $30,000 in the last three months, now seems like a good time for a refresher course. In brief, the median price is simply the middle point—the home…
June Reporting Roundup: Muted Enthusiasm for Increasing Sales
With sales skyrocketing to a massive four percent gain over last year and median prices shooting through the roof, the housing market recovery is on, and it’s a race to report it. Let’s check in with the local news outlets to see who had the most sensational write-up this month. First up, the NWMLS press…
NWMLS: Sales Edge Above ’08, Median Up 5% MOM, Down 12% YOY
Let’s take a look at June market statistics from the NWMLS. Here’s the NWMLS press release: “Aware and prepared buyers” help boost Western Washington home sales during June Here’s your King County SFH summary, with helpful arrows to show whether the direction of each indicator is positive or negative news for buyers and sellers: June…