Jay
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I talked with NAR's broker and asked how they're investing: The reply: buying toilet paper and selling bricks...
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A friend of mine was recently outed from an apartment conversion in Bellevue. In June they said you've got to leave by the end of Aug. In late Aug my friend asked if they could stay longer since the new place they had found was still being remodeled…
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Mack, Who should people believe, a real estate professional or a bubble blogger? Well, I bet all those who listened to David Leareh in 2005/2006 in most parts of the country wish they had listened to the bubble bloggers instead of the real estat…
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Thanks Tim, I missed that.
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I can relate. I had lengthy debates with my firends a year ago in July. One of them was in the process of building a house. I no longer even bring up the housing market to them - there's no point. I think they actually now know what is going on. Bri…
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In case you missed it, here is a link to a recent Seattle PI article (Mortgages are getting harder to get for local borrowers) which has a chart at the bottom showing statistics for Subprime Arm, Prime Arm, Defaults, and Forclosures for WA vs the na…
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Regarding Medina, that may often be the case but most definitely not always. Just for kicks I was looking at listings in Medina around 2000 and 2001. I saw homes bought for $7M a year or two earlier that ended up selling for $5M during that downturn…
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I'm seeing asking prices on the water around Lake Sammamish coming down significantly. Probably seen close to two dozen waterfronts reduced over the last couple of months.
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great post, deejayoh
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Seems to me the benefit of the real estate license is the ability to preview the homes without a buyers agent. If you ask for the selling agent to do showings they will insist on keeping the buy side commision.
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Restricting information as the housing bust progresses is definitely what is going on. There's no longer access to DOM info, as a recent example, in many areas.
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Thanks for your replys. Still, that doesn't explain two issues: 1) Why are the stats off at the other site (unless they also use Realtor.com? 2) Why the big jump in prices to go with the drop in inventory? Clearly the jump in prices, whi…
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Well, you could have just moved from CA to WA and rented to get most of the tax benefit. When you factor in the interest your're paying on your loan (with diminishing and possible negative appreciation) combined with commission and excise tax to sel…
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In the last 2 - 3 weeks I've seen 5 or 6 price reductions around Lake Samm on waterfront properties. I haven't seen that once in the last several years. Things are beginning to change, quicker than many people now realize.
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Lets do a sanity check. So Seattle didn't go up as much as other bubble zones earlier (ie, late to the party), so that means Seattle can go on appreciating at double digits indefinitely? You can't have it both ways - once Seattle began going up at d…
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Actully, I think this model applies perfectly to human nature and real estate bubbles. You're just applying the wrong human attributes as inputs into the model. Just apply GREED instead of VALUE and you will get the right result. People don't mind o…
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Don't forget GREED. That's the emotion that drives most people. You can be happiest in life, in my experience, when you can control your greed. Most people think "If only I had twice as much, THEN I would be happy" (that's greed, pure and simple). …
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I'm seeing an interesting trend develop. I've been watching lakefront properties on the Eastside for over a year. Just in last few weeks I've seen three listings unlike any I've seen before. Two of them were listed significantly lower (ie, 20-35% lo…