{"id":3706,"date":"2008-12-22T09:20:05","date_gmt":"2008-12-22T17:20:05","guid":{"rendered":"http:\/\/seattlebubble.com\/blog\/?p=3706"},"modified":"2008-12-23T11:44:09","modified_gmt":"2008-12-23T19:44:09","slug":"weekend-news-roundup-2","status":"publish","type":"post","link":"https:\/\/seattlebubble.com\/blog\/2008\/12\/22\/weekend-news-roundup-2\/","title":{"rendered":"Weekend News Roundup"},"content":{"rendered":"<p>Here are a few local real estate stories to kick off this snowy Christmas week.<\/p>\n<p>Aubrey Cohen, Seattle P-I: <a href=\"http:\/\/seattlepi.nwsource.com\/local\/392731_meltdown18.html\" title=\"It's refi &mdash; not buy &mdash; in Seattle's housing market\">It&#8217;s refi &mdash; not buy &mdash; in Seattle&#8217;s housing market<\/a><\/p>\n<blockquote><p>Unusually low interest rates have spurred a run of mortgage refinancings in the Seattle area, but not necessarily more home purchases.<br \/>\n&#8230;<br \/>\nAndrew Gledhill, an associate economist at Moody&#8217;s Economy.com, said low rates were not enough to turn around the housing market or the wider economy.<br \/>\n&#8230;<br \/>\nThe economic downturn has become increasingly global, affecting Seattle-area core industries such as software and aerospace, Gledhill said. Moody&#8217;s now expects Seattle-area home prices to decline just over 20 percent from the peak in the summer of 2007 to a low point by the end of next year.<\/p>\n<p>After that, it will probably take until about 2014 for prices to get back to their 2007 level, he said. &#8220;It&#8217;s going to take several years for this to work itself out.&#8221;<\/p><\/blockquote>\n<p>Steve Tytler, Everett Herald: <a href=\"http:\/\/www.heraldnet.com\/article\/20081221\/BIZ\/712219928\" title=\"Can't sell it? Tips on how to rent it\">Can&#8217;t sell it? Tips on how to rent it<\/a><\/p>\n<blockquote><p>A lot of would-be home sellers are now finding themselves reluctantly becoming landlords in this slow housing market&#8230;<\/p><\/blockquote>\n<p>Rolf Boone, The Olympian: <a href=\"http:\/\/www.theolympian.com\/southsound\/story\/706114.html\" title=\"Foreclosures hit Northwest homes, business\">Foreclosures hit Northwest homes, business<\/a><\/p>\n<blockquote><p>Mortgage foreclosures in Thurston County increased more than 50 percent in 2008 compared with 2007, an indication the slowing economy is contributing to this growing problem, newly compiled data show.<\/p>\n<p>Notice of trustee&#8217;s sales filed with the Thurston County Auditor&#8217;s office rose to 1,010 through Dec. 19, up from 662 in 2007.<\/p><\/blockquote>\n<p>Read any interesting stories this weekend in the real estate world?  Share them here.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Here are a few local real estate stories to kick off this snowy Christmas week. Aubrey Cohen, Seattle P-I: It&#8217;s refi &mdash; not buy &mdash; in Seattle&#8217;s housing market Unusually low interest rates have spurred a run of mortgage refinancings in the Seattle area, but not necessarily more home purchases. &#8230; Andrew Gledhill, an associate&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[198],"tags":[106,18,36,7,179,103,14,59,19,95],"coauthors":[],"class_list":["post-3706","post","type-post","status-publish","format-standard","hentry","category-news","tag-boone","tag-cohen","tag-everett_herald","tag-foreclosures","tag-moodys","tag-olympian","tag-predictions","tag-rent","tag-seattle_pi","tag-tytler"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Weekend News Roundup \u2022 Seattle Bubble<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/seattlebubble.com\/blog\/2008\/12\/22\/weekend-news-roundup-2\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Weekend News Roundup \u2022 Seattle Bubble\" \/>\n<meta name=\"twitter:description\" content=\"Here are a few local real estate stories to kick off this snowy Christmas week. 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