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Recent Ballard/Loyal Heights Sales

meshugymeshugy
edited May 2007 in Seattle Real Estate
Sales in Ballard/Loyal Heights are brisk, with most houses receiving multiple bids and going over asking.

First # is Asking, second is sold:

7743 18th Ave NW 459,000 453,000
7538 31st NW 625,000 630,000
8315 16th Ave NW 550,000 550,000
6720 33rd Ave NW 399,950 399,950
7317 23rd Ave NW 524,950 560,500
7722 29th Ave NW 379,950 385,000

Comments

  • mike2mike2
    I'm curious why the Realtor is showing you the offers on these homes.

    Are most people offering less than asking? That's the only explanation I can imagine for why only one of the homes in your list sold for significantly more than asking price, though multiple offers are the norm.
  • S-CrowS-Crow
    Mesh,

    I'd like to understand where some of these are showing as sold? A couple of them are showing sold, but some are still showing as pending.
  • dgeng265dgeng265
    First # is Asking, second is sold, third is Zestimate(tm):

    7743 18th Ave NW 459,000 453,000 513,844
    7538 31st NW 625,000 630,000 541,518
    8315 16th Ave NW 550,000 550,000 550,658
    6720 33rd Ave NW 399,950 399,950 411,922
    7317 23rd Ave NW 524,950 560,500 538,444
    7722 29th Ave NW 379,950 385,000 431,518

    Just for kicks.
  • mike2mike2
    Here's a great investment. $340K for a section-8 rental that generates a whopping $1300/month in income.

    Just interest and taxes on this unit would be $1900/month. Remodeled 2 years ago, and it's already listed as a "fixer". Safe to say that you'll be shelling out for repairs in addition to the -$600/month cash flow.

    Someone jump on this quick. It won't last!

    http://www.redfin.com/stingray/do/printable-listing?listing-id=675595
  • mike2mike2
    Here's odd one. Bought in 8/2005 for 410K, now pending at $454K.

    That's under 11% appreciation in 22 months. Is that even possible in 98103, even if you trash the place?

    The only thing I can figure is that during the feeding frenzy of 2005 people were seriously overbidding some properties.

    http://www.redfin.com/stingray/do/print ... -id=717136


    Edit: it looks like this one sold at trustee sale for $382K, then was listed on the market at $454 - so although it's a foreclosure, the price will be used in comps. Suckers. How the heck did they manage to get forclosed on with 11% appreciation?
  • JazenJazen
    When it's foreclosed the lender is trying to recoup as much money as possible, so it's not up to the person who was foreclosed on.
  • mike2mike2
    Jazen wrote:
    When it's foreclosed the lender is trying to recoup as much money as possible, so it's not up to the person who was foreclosed on.

    You missed the point. This guy was $32K behind in payments by the time he lost the house. It went pending in 16 days at $44K more than he bought it for. It took him at least 6-12 months to get that far behind, so it's unclear why he didn't at some point say "hey, if I sell now, I can save my credit score and have some cash left over for hookers and blow".
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