From the Seattle Times: “Home prices declining, inventory building around Puget Sound.”
From the Seattle P-I: “Seattle single-family homes prices stay steady in March.”
I’m so confused.
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Prices are steady in Seattle, but down across the Sound. Across the rest of the country housing price declines have hit suburbs first.
I’m still hoping to get in on this bubble bursting action.
The age old axiom location location location holds as true today as ever. Homes close to job centers and urban amenities will hold their value much better than homes located a long way out. The house prices and unsold inventory in the fringe burbs are quite different than house prices and inventory in our urban neighborhoods. So when they say the real estate sky is falling, it very may well seem that way to some, and not so much to others.
Looks like a retype of a press release, not reporting.
I’m still puzzled as to why people would choose to buy and live in the highest priced market in the state when you can make the exact same wage and live elsewhere for much cheaper.
I don’t see why you are puzzled. Would you really want to live in Oklahoma City where you can get a house for cheap? I certainly wouldn’t.
@5
No thanks Oklahoma City.
I’m about 40 miles from Seattle, I like where I live, work is 2.5 miles away and my house would be at least another 100K if I’d have bought in Seattle. My pay would be the same. My property taxes are way lower too.
So yeah, I’m a little puzzled as to why someone would drop an extra 500-600 a month on a mortgage payment just to live in Seattle.
@4,
Why do I prefer to live on the expensive eastside, rather than the more inexpensive rainier valley or central district, where I would get more bang for my buck? Because those areas are a toilet.
Anyone else getting a kick out of the Capitol Hill hypocrites who are going ape shit over their transit station warplane art? Whatever happened to all that “art is supposed to challenge us, and make us think” bs? Oh, I guess it’s okay for art to challenge and offend OTHER people, but when it upsets capitol hillers themselves, they cry like foul. Fucking hypocrites.
I once knew a guy who worked at Boeing/Auburn. He bought a nice house there. Six months later he was transferred to Boeing/Everett. After working there for a year, and paying the commuting costs, he sold his home in Auburn (took a loss, after RE commissions & closing costs) and bought a new home in Everett. Of course, you know what happened next – three months later he was transferred to Boeing/Seattle.
My wife had an uncle who worked at Boeing most of his working life. He told stories about living in Auburn and driving to Everett, before they completed the I-5 to Everett. He drove most of the way on Hwy 99.
A friend of my son didn’t like commuting, so he passed up on a higher-paying gig in Seattle for one 15 minutes from his house. He claimed that after commuting costs were considered, he saved $80 per month by taking the lower paying job close to home. But the job close to home closed its doors, just three months after hiring him, and the higher paying job in Seattle is no longer available.
All things considered, I’m a firm believer that you need to find a place to live that makes you happy (within your income), and find a place to work which offers you the best future, and then figure out how to get from one to the other (within reason). Nowdays with both husband and wife working, and people changing jobs ever 3-1/2 years on average (by choice or not), just trying to find a job for two people in the same city is enough of a challenge – trying to make sure it’s in your same neighborhood, for your entire working life, is pretty unrealistic.
Oh, a tale of two CITIES! Silly me! Thought you were posting about a tale of two sissies, and naturally assumed it was about YLB and pudless lucy.
@8: rhp: Well said.
People go to live near where the work is. Young people like to be near the city – the burbs are boring. With the commutes and traffic getting worse – many people opt to try and live near work or near transit – hence Seattle is more desirable for the commute, for the transit and for the “atmosphere”. Families want to be near good public schools – so the burbs tend to be more popular for familkies with kids. The burbs also have less traffic, bigger yards and are safer – but the average family has to balance that with the longer commute. so the close in burbs are “worth” more. Seattle at least has a big livable portion of the city – some other cities have areas that you don’t even want to go through during the daytime.
Lordy, lordy, Zillow has my house as listed as being worth about the same about as a 900-1200 square foot condo in Queen Anne. My house is 1,700 square feet and the lot is about 11,000 square feet.
I’m not too sure how good of a guide Zillow is as it has my house way over valued.
I really am asking a question at #4 and #6, not making a statement.
Big ups to #’s 8&10.
I wonder how will the Pee-Eye and the Slimes post Clinton’s tax returns
WILL THE TAX THE RICH CROWD SAY: Bill and Heilary didn’t pay enough taxes? From my calculations they surely didn’t listening to these 16%ers.
$109.2 Million in Income Over 7 Years 2000 – 2007 – $33.8 million in taxes – $10.25 million in charitable contributions.
Damn lots of people came to see/hear Monica Lewinsky’s Ex-Boyfriend.
Did she borrow that money from Bill?
Per ByeByeGOP and his blathering stupidity earlier in another thread he was commenting on Cindy McCain and her money. Well where did Heilary get her 5 Million “funds” from to loan to her campaign in February? It seems she didn’t get that from her “honorariums”.
Enquiring minds who think these things through want to know…?
ByeByeGOP, maybe you should STFU as I will always use your silliness against you.
Bye Bye Idiot!
And the Pud droppings relate to the thread how?
It was the best of times, it was the worst of times. When I get under K’s skin it is the best of times.
Tale of Two Cities:
Seattle – Nuthin much happened 40 years ago
Memphis – MLK Jr was assassinated.
Puddy – BBG is making claiming about you wife again ARGH
http://www.horsesass.org/?p=4574#comment-765338
claims instead of claiming…sorry :)
Hannah, I saw it. Thanks. Some morons don’t change. He did it as Left Turn… Ummm Turdball (hence I called him Feces in the other thread). He did it as RightEqualsStupid AKA I’mALeftyI’m Nuts. I guess I’ll have to deliver the lesson myself since chickenshit couldn’t/wouldn’t appear when he “said” he would.
Hannah, if he had a dick he’d be dangerous. Women don’t need to worry, there’s nuthin available to penetrate! I bet he’s some pimply faced thing masquerading as a human.
Puddy…ahahahhaha thanks for the horrible image in my head! So what do you think of this housing market story(stories)?
6 Good on ya–Frankly, you’re part of the solution. On the other hand, those of us who live 40 miles from where we work are part of the problem, particularly if we take the lonely drive by our little old selves every day.
2 Depends on what you define as “close”. In this case the bigger factor may be how many homes were sold in the last few years. People in Los Angeles were saying the same thing as you are as recently as a year ago.
The media tends to look to real estate professionals for their prognostications, and lo and behold! these folks invariably tell the reporter that the worst has passed, that it’s a buyer’s market, bla bla bla, but…
If inventory continues to rise, and sales continue to decline, how can prices remain steady? They can’t, and they’re declining. They’ve fallen about 6% since their peak last July, and there’s no reason to believe that they’ll reverse course anytime soon. I may be the only real estate agent in the Seattle area who believes this, so either I’m wrong and the rest of my colleagues are right, or I haven’t swallowed the kool-Aid.