It’s time for April statistics from the NWMLS. King County SFH summary: April 2007Active Listings: up 38% YOYPending Sales: down 10% YOYMedian Closed Price: $465,000, up 11% YOY Sales continued their descent, making April the 17th of the last 18 months to register a YOY decrease in pending sales. Likewise, inventory continues to balloon, registering…
My Clients Don’t Have Any Money
Living most of my life in Florida, cockroaches were a fact of life. In general, if you spotted one cockroach, that meant there were at least 1,000 others somewhere, waiting in the wings. In the past few months homeowner subprime sob stories have been coming at us from all over the country, ad nauseam. With…
Throw More Money at the Problem
Problem: Housing in the Seattle area is too expensive.Government solution: Artificially inflate the buyer pool by throwing millions in government loans at the problem. Seattle will soon stake low-income housing developers in the cutthroat bidding wars for building sites. The idea, which the City Council’s Housing, Human Services and Health Committee approved as a two-year…
To Open Thread or Not to Open Thread?
Thanks to the cessation of daily open thread posts during and after my recent vacation, participation in the forums has really taken off. However, when I announced on Monday that I would cease posting open threads for the foreseeable future, a number of you protested. While I am certainly glad to see the forums well-utilized,…
Renting in Seattle "may make economic sense"
Finally some semi-useful information out of Dupre + Scott. Mr. Cohen reports on the “1-19 Unit Report” just released by Dupre + Scott in this terrifying tale of skyrocketing rents and plummeting vacancies: Rental houses get scarce, expensive The good news for people who cannot afford to buy a house in Seattle is that it…