meshugy
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george wrote: First, rents are not skyrocketing. They're barely keeping up with inflation. Actually, they're moving faster then inflation. A 9% increase last year. Inflation is about 3%: Seattle joins $1,000 club for average Western re…
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Hi George....it's important to not conflate the local market with the national one. Seattle vacancy rates are plummeting and rents are skyrocketing and are predicted to do so for many years: It's a different picture in the Seattle area, where the…
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you should look more closely...several of those are actually pending sales. The first one is around the corner from me and is subject to inspection: 7045 18th Ave NW Basically anything that's halfway decent and is priced realistically sell…
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Hi DJ...thanks for the report. I'm glad to see you accpet the MLS #s as reality.
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I'm sure there real winners....
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biliruben wrote: Prices have been essentially flat since last May KC Res median was $427 last May...March 2007 it was $454. A $27K increase is flat? That's very solid appreciation by any measure... and inventory has just blown pas…
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deejayoh wrote: - asking price has been reduced on 25% of listings Hi DJ...if you look over the Zip realty reports for the last year or so, you'll see 20-25% reduced listings is totally normal. That just reflects overpriced properties comin…
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Hi Bili....those stats aren't available from the MLS reports. Only the Zillow blog posts price per sq ft and sold/asking price stats. Gives you a better idea of what happened last month. BTW, our little wager is not looking to good for you right …
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DJ's article...see above.
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Interesting that Seattle far out paces any city of it's size for job growth: Seattle has 44,200 new jobs and 3.2% growth rate. San Francisco has 25,100 new jobs and 2.7% growth rate. LA has 44,600 new jobs and 1.1% growth rate. San Diego…
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1) - Decrease in Sales Yes..sales are lower then the boom years but still among the hottest on record. KC RES sales March 2007: 2710 Much slower in previous years: KC RES sales March 2002: 2247 KC RES sales March 2001: 2187 KC RES sale…
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deejayoh wrote: However, I don't you've discredited my hypothesis. I think it's pretty logical that the water builds until the dam breaks. Right...but history tells us we need over twice as much water. So the dam will hold untill we see in…
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Hi DJ...that's an interesting theory. However, measuring increase in inventory alone doesn't tell us that much. You need to take a look and see what is historically high inventory for a given area. Right now Seattle is at historical lows for invento…
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Blitzer isn't that knowledgeable about the dynamics of our local market. I'd trust Crellin, who is an expert on WA housing: It's too early to tell if prices will go down, but any decline would probably not amount to much, Crellin said. "I'm convi…
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Seattle housing prices strong -- for now New data released Tuesday show that Seattle-area house prices continue to defy a sinking national market, with the best year-over-year and month-to-month figures in February among 20 major metropolitan are…
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B wrote: As corroborated by other data sources (and personal acquaintances of mine), nothing is moving at the low end, most especially condo sales are slowing. Hi B.... Actually, that's not true. MLS shows Pending condo sales were …
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Report: U.S. home prices fell 1.5 percent from last year San Francisco and Boston have recorded negative returns on a month-over-month basis since last May. Seattle and Portland, Ore., meanwhile, have consistently resisted the downturn.
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S&P/Case-Shiller Home Price Index Fell 1% in Year The index is a composite of transactions in 20 metropolitan areas. Thirteen cities showed a year-over-year decline in prices, led by a 7.8 percent drop in Detroit and a 5 percent decline in Sa…
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Just look at Tim's spreadsheet: http://timothyellis.googlepages.com/Seattle_Bubble.xls Pending Res Sales Feb. 2007: 2375 Pending Res Sales Mar. 2007: 2710 A 14% MOM increase....
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Seattle home prices still going up Seattle's home prices continue to defy a sinking national market, according to new data released Tuesday. The latest figures, from Standard & Poor's S&P/Case-Shiller Home Price Indices, show Seattle-a…
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Except in Seattle....sales were up MOM 14% in Seattle this March. go Pink Ponies!
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...but foreclosures are down YOY 22.8% in King County: King County homeowners buck national trend King County went against the national trend, with its 402 March foreclosures down 22.8 percent from March 2006
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DJ...I think your theory is full of holes. Housing prices AND rents can both rise in tandem if there's enough demand. Let me give you a little lesson in Econ 101: Supply and Demand Supply and demand is perhaps one of the most fundamental conce…
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deejayoh wrote: Astonishingly, four of the markets with the greatest increase in home prices - Boise City, San Francisco, Portland and Seattle - actually saw apartment rents decline. Hello..wake up please! :shock: That report was from 20…
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ayles wrote: We also relocate a ton of people from around the country that can't sell, or that have lower housing values... Makes for some tough conversations when somebody wants a house like they had "back home" and the price is 3 times that here…
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EconE wrote: I would however recommend that you not look at the equity in your house as money earned and then tap into your "equity" because in essence, all you are doing is borrowing more money and going further in to debt. Let that equity grow …
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corey wrote: Don't forget that Microsoft relocates people mainly from New York, San Francisco/Silicon Valley, and LA... as well as cities around the world like London, etc. Exactly! I've been trying to convince Tim of this but he insists th…
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EastSider wrote: After quite a bit of watching & waiting, I'm thinking of taking a plunge and buy a home on the eastside. I don't see any signs of the market slowing down. I can't speak for the Eastside...but Ballard and N.Seattle in ge…
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Puget Sounder wrote: meshugy wrote: Without a steady stream of buyers, those values won't be able to be sustained. ...which is exactly what we have. A steady stream of buyers lured to the area by high paying jobs. If you're lookin…
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TJ_98370 wrote: One other point. If everyone is going to be climbing their equity ladder to a million dollar home, what's going to happen when the first time buyer can't buy that starter home because market appreciation has pushed the price up t…