Seattle Housing, Mediocre Investment?
The old "priced out forever" is being replaced with the hottest new real estate catch phrase: "Sitting on the market forever."
Now this: area 140 Seattle median price change over the last year (july to july) is down to 3.2 percent
Median Price: July 2006: $407,000
Median Price: July 2007: $420,000
Quiz: if you'd sold and put your $407,000 investment in the DOW, S&P, or NASDAQ, how much more money would you have made during the last year:
http://finance.yahoo.com/q/bc?t=1y&s=%5 ... &c=%5EIXIC
http://finance.yahoo.com/q/bc?s=SPY&t=1y
Even the not-so-smart money has to be paying attention to the new reality. When you add in all the new condos plus the new market psychology driven by a national downturn (which is affecting many new homebuyers coming here from California and elsewhere), this could mean a LOT more inventory in the next 12 months.
I'm still guessing we'll see rental prices continye to rise and YOY price declines in Seattle by April 2008, but could it be even earlier?
Now this: area 140 Seattle median price change over the last year (july to july) is down to 3.2 percent
Median Price: July 2006: $407,000
Median Price: July 2007: $420,000
Quiz: if you'd sold and put your $407,000 investment in the DOW, S&P, or NASDAQ, how much more money would you have made during the last year:
http://finance.yahoo.com/q/bc?t=1y&s=%5 ... &c=%5EIXIC
http://finance.yahoo.com/q/bc?s=SPY&t=1y
Even the not-so-smart money has to be paying attention to the new reality. When you add in all the new condos plus the new market psychology driven by a national downturn (which is affecting many new homebuyers coming here from California and elsewhere), this could mean a LOT more inventory in the next 12 months.
I'm still guessing we'll see rental prices continye to rise and YOY price declines in Seattle by April 2008, but could it be even earlier?