GetReal
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Marlon, rental prices have nothing to with inflation. They are based on the income of the renters and scarcity of available rental properties. If inflation kicks in at 20% and local incomes stay the same, do you really think (especially with the flo…
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Marlow is a bit dilusional, but we should not take these flames personally. After all, real estate agents are still people, have emotions and are hurting ... The problem here is that many of these people (such as Marlow) don't care how they have hur…
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... now JPMorgan Chase ... Goodbye, WaMu
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A townhouse, almost identical to the one I rent, in downtown Bellevue just sold for less than 350K. The address is 369 112th ave SE, Bellevue, WA 98004, and MLS# 28109903. It's a bit more than 1600 sq ft with 2-car garage, built in 1979. Expect Kenm…
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I work at MS, wife works at Boeing. I guess we qualify for this low-income housing.
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This announcement just introduces more uncertainty to Wall Street and builds a critical mass for massive drops of creative loans
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Yes, expect problems as even prime homeowners (with ARMs and other 'creatuive' loans) have problems re-financing. Plus wait for formal investigations into dealings of the banks and mortgage brokers, which should make things worse.
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Subprime borrowers are out, prime borrowers need to put large downpayment (to buy those $500-700K houses). Anything else? This is the true pressure on the market. Expect things to go downhill pretty quickly from now on.
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This is a big thing for those with risky loans that are waiting to refinance. Makes it difficult and espensive to refinance into more stable loans. Perhaps, this will spill into the prime mortgage owners that took out risky loans.
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When I was looking for a $600-700 house on the Eastside early this spring, the best deal that my mortgage broker was able to get (with 5% down) included a jumbo loan. Right now, although I'm earning pretty high wage, my move into the market would be…
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I'm not an expert, but if the 80% is $417K, then the max price of the house you can buy is $521K + downpayment. This indeed should should put downward pressure on prices on the Eastside, where you cannot buy anything decent for less than $550K.
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Great news! I guess Portland is no longer 'special'.
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JD, who's going to live in your apartments if rent increases 15% a year? Sure, you were able to do it this year, but sooner or later this streak should end. The salaries do not increase at this rate, and rent depends also on salaries in the area, la…
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I think it would be interesting to see JD pick a house that is listed right now on MLS (so that everyone can see what we're talking about), and explain to us what happens when JD's client buys this house at the asking price. Use the calculator (and …
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JD, no one argues that your clients would make money for property bought 3 years ago. The question is: what about now? Can you run the calculator with specific numbers and tell us what you get if you put your client into a house now? I think ever…
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I can imagine cases of MS employees who don't follow the market and instead listen to their RE agents (who, as in my case, always say that everything is hunky dory and Seattle is a very very special place). However, those that at least check a few f…
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Not sure about hi-tech employees, though. I work at MS and, after scouring the market and looking at houses for a couple of months, decided that the prices are way over the top and the market is liable to burst. Paying 4.5K a month for mortgage is s…