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Seattle Real Estate

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  • BasemanBaseman Member Posts: 12,369

    - The West is the Best.

    Jim Morrison said so.
  • PostGameOrangeSlicesPostGameOrangeSlices Member, Swaye's Wigwam Posts: 27,008 Swaye's Wigwam
    edited June 2021

    I shouldn’t have sold but i took my free trip to Cancun.
    Mail me some fish scale
  • backthepackbackthepack Member Posts: 19,932

    Mail me some fish scale
    I will. Anything else?
  • pawzpawz Member, Moderator, Swaye's Wigwam Posts: 22,132 Founders Club
    Sources said:

    Looking to buy a house in Seattle (or possibly Bainbridge) - anyone have an educated guess as to whether it's best to wait to buy? Some of the pricing on Zillow looks to be cooling off, but every article I find suggests that things are only continue to go up

    @Sources

    The first answer is it's tricky, and it depends. Not what you want to hear.

    There is always some seasonal slowing going into the summer. One of the best times to buy is in August as there will be less competition as families are busy getting in their last vaca before school starts. We are also seeing the number of buyers per door go down because they are tired of getting kicked in the nuts over and over. But to be sure, they are still out there just - choosing not to compete.

    Thing will continue to go up for the foreseeable future. The one element to this that makes it atypical to a bubble is the sheer amount of cash in the marketplace. Usually in bubbles it's because people are over-leveraged. Not here.

    The wildcard to the previous statement is the forbearances and foreclosures stacking up at the banks. While the preliminary numbers sound extraordinarily high, we must remember these are localized to the areas of the working poor and won't necessarily impact the tech-centers.

    Hopefully this helps. Please let me know any follow-up questions.
  • SourcesSources Member, Swaye's Wigwam Posts: 4,277 Founders Club
    pawz said:

    @Sources

    The first answer is it's tricky, and it depends. Not what you want to hear.

    There is always some seasonal slowing going into the summer. One of the best times to buy is in August as there will be less competition as families are busy getting in their last vaca before school starts. We are also seeing the number of buyers per door go down because they are tired of getting kicked in the nuts over and over. But to be sure, they are still out there just - choosing not to compete.

    Thing will continue to go up for the foreseeable future. The one element to this that makes it atypical to a bubble is the sheer amount of cash in the marketplace. Usually in bubbles it's because people are over-leveraged. Not here.

    The wildcard to the previous statement is the forbearances and foreclosures stacking up at the banks. While the preliminary numbers sound extraordinarily high, we must remember these are localized to the areas of the working poor and won't necessarily impact the tech-centers.

    Hopefully this helps. Please let me know any follow-up questions.
    Appreciate the input - this is helpful. Homes cost what they cost, I just don't want to throw a bunch of money into something and suddenly I'm 20% underwater. General consensus seems to suggest that Seattle is relatively immune from a major downturn, which gives me some comfort.

  • DerekJohnsonDerekJohnson Administrator, Swaye's Wigwam Posts: 66,982 Founders Club

    My POS Seattle starter house has increased $161,000 since we sold last July. Christ. I hated that fucking house.
    It wasn't the Taj Mahal but it wasn't a POS
  • YellowSnowYellowSnow Moderator, Swaye's Wigwam Posts: 36,988 Founders Club

    It wasn't the Taj Mahal but it wasn't a POS
    Yes, some hyperbole on my part DJ. It was better than a lot of crummy old houses. But still it was never going to be a happy wife, happy life home.
  • KaepskneeKaepsknee Member Posts: 14,896
    NEsnake12 said:

    Stonks only go up. It’ll probably be a while before the Seattle real estate market cools off, it’s still the fastest growing major city in the country, and the only one on the growth list that doesn’t have a high capacity for new suburban development sprawl.

    That data is a full year old.
  • DerekJohnsonDerekJohnson Administrator, Swaye's Wigwam Posts: 66,982 Founders Club

    Yes, some hyperbole on my part DJ. It was better than a lot of crummy old houses. But still it was never going to be a happy wife, happy life home.
    A great house though if you were a bachelor
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