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Price Drop - North King Co.

small_far_uglysmall_far_ugly
edited August 2007 in Housing Bubble
One house I had viewed reduced from $375k to $330k in Shoreline. 12% drop in asking price.

So it's happening at the bottom end too. I'm keeping an eye on this in North King County. Anybody seen many others at the low end?

Comments

  • Horror ArtistHorror Artist
    I looked fairly extensively in North King County and it's quite possible there are some inflated prices up there. Broken down ramblers in some of the not-so-nice neighborhoods of Shoreline hugging Aurora were going for over $400K and being billed as "fixers". My agent, who's definitely towed the "it's a seller's market" line, hesitated in getting in to any of those.

    I wouldn't be surprised if the asking price drops for those homes. If I had extra $$$ lying around, and if the November Sound Transit measure passes, I'd absolutely target a few of those neighborhoods if there is a downward correction. Of course that's a lot of "ifs", which is one of the reasons I would not buy those houses now, not for those prices.
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