The art of analyzing a home’s “comps”—once the exclusive domain of real estate agents and appraisers—is now open to everyone thanks to sites like Zillow and Redfin that display detailed data on sold homes. The basic process is simple: Make a list of recently sold (within the last 3 months, ideally) homes similar to the…
Tag: appraisal
How To: Analyze a “Below-Market” Deal
I personally believe that a reasonable analysis of the local economic fundamentals points to another ten to fifteen percent decline in Seattle-area home prices. However, I also believe that barring a major economic catastrophe that slashes wages and dramatically increases unemployment, buying in today’s market can be a good move if you can find a…
Guess the Price & Win Dinner on The Tim
Let’s play a new game that I’m calling “Guess the Price.” Here’s how the game works. I’ll describe a home that’s currently on the market, giving you as many pros and cons as I can, and you guess what the final sale price will be when/if it sells, and the closing date. Be sure to…
PNWHS & REBarCamp Audio Pencasts
For anyone who is interested in listening to some straight audio from yesterday’s PNWHS event and one session from today’s REBarCamp event, I present the pencasts below. Lennox Scott’s rousing main talk begins on page three of session 2. Float over the number in the lower-right of a pencast to jump between pages, then click…
Morsels of Market Musings from PNWHS
Rather than editorializing on everything I heard at the Pacific Northwest Housing Summit today, I thought you all might just enjoy some unfiltered quotes from the industry professionals. Bret Bertolin Senior Analyst, Washington State Economic and Revenue Forecast Council On the broad economy… We believe that the economy has turned the corner, and it pick…