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A Favor to Ask of @Pawz ... May We Have a Real Estate Fupdate??
Comments
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We really like all the sunshine and the neighborhood will be great once it’s completed. We’re the third family to move into our new development so we’ve put up with a lot of construction. It’ll probably be another year before it’s completed, and it can be aggravating (two flat tires so far), but I look at it as the cost of appreciation. The new homes are already selling for almost a $100k more than what we paid.creepycoug said:
Congrats. How do you like to so far? I’llUSMChawk said:
Yup. Moved to AZ back in July.creepycoug said:
Did you finally leave the north end? The state?USMChawk said:
I had a nice bidding war that is paying for half the cost of this hole in my backyardYellowSnow said:I’m rich biatch for selling NE Seattle!!! But still that house has only increased since I sold.
bet you like it quite a lot right about now eh??
Any other places you considered? All western US?
That’ll be a nice pool.
I work from home so all I needed was reliable internet. I’m not a humidity fan so that eliminated two thirds of the country. Honestly, Southern California’s climate would have been perfect if it wasn’t for the politics and high taxes. Plus I’d have to sell most of my guns and magazines. We drove through Boise and Twin Falls on the way here and I really liked what I saw. That was in the summer though. I do miss the green of the NW but not all the rain it takes to keep it that way. I won’t get to ski this year but that’s more from the Covid restrictions than the move.
Here’s a rendering of the completed pool. If you squint you can see the two barstools next to the stairs, facing the TV wall That’s where I plan to watch a lot of football.
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Its still relative. Our Seattle home dropped 200k in value between 05 and 07YellowSnow said:
Look ese, I was long Seattle single family when I sold in spite of all the bull shit. There’s no land to build on and too many high paying jerbs. The idea that Seattle real estate is gonna collapse is something for Tug fetishers.creepycoug said:
I think about it this way: if, in the middle of all this shit, houses in the city have continued to appreciate, then what's gonna happen when the sun comes back out, and people are boating in Lake Union and things return to normal?YellowSnow said:I’m rich biatch for selling NE Seattle!!! But still that house has only increased since I sold.
All that being said, I think zoom town RE outpaces SFO, PDX and SEA over the next few years.
Then came back the last decade
Location is still location but until the weight of rent failures and mortgage defaults is known we don't know
High end in top coastal areas will always have value because the buyer pool is world wide
I didn't imagine thousands of abandoned homes in burbs at the last crash. An entire industry sprung up
Politicians are of course in safe areas -
This is it for me. I would, however, tell anyone listening to absolutely not buy real estate in Seattle if it's an investment property. The regulatory burdens and associated risk are not worth the returns. You can make that money in most areas of Puget Sound.RaceBannon said:
Its still relative. Our Seattle home dropped 200k in value between 05 and 07YellowSnow said:
Look ese, I was long Seattle single family when I sold in spite of all the bull shit. There’s no land to build on and too many high paying jerbs. The idea that Seattle real estate is gonna collapse is something for Tug fetishers.creepycoug said:
I think about it this way: if, in the middle of all this shit, houses in the city have continued to appreciate, then what's gonna happen when the sun comes back out, and people are boating in Lake Union and things return to normal?YellowSnow said:I’m rich biatch for selling NE Seattle!!! But still that house has only increased since I sold.
All that being said, I think zoom town RE outpaces SFO, PDX and SEA over the next few years.
Then came back the last decade
Location is still location but until the weight of rent failures and mortgage defaults is known we don't know
High end in top coastal areas will always have value because the buyer pool is world wide
I didn't imagine thousands of abandoned homes in burbs at the last crash. An entire industry sprung up
Politicians are of course in safe areas -
That's my dream backyard right thereUSMChawk said:
We really like all the sunshine and the neighborhood will be great once it’s completed. We’re the third family to move into our new development so we’ve put up with a lot of construction. It’ll probably be another year before it’s completed, and it can be aggravating (two flat tires so far), but I look at it as the cost of appreciation. The new homes are already selling for almost a $100k more than what we paid.creepycoug said:
Congrats. How do you like to so far? I’llUSMChawk said:
Yup. Moved to AZ back in July.creepycoug said:
Did you finally leave the north end? The state?USMChawk said:
I had a nice bidding war that is paying for half the cost of this hole in my backyardYellowSnow said:I’m rich biatch for selling NE Seattle!!! But still that house has only increased since I sold.
bet you like it quite a lot right about now eh??
Any other places you considered? All western US?
That’ll be a nice pool.
I work from home so all I needed was reliable internet. I’m not a humidity fan so that eliminated two thirds of the country. Honestly, Southern California’s climate would have been perfect if it wasn’t for the politics and high taxes. Plus I’d have to sell most of my guns and magazines. We drove through Boise and Twin Falls on the way here and I really liked what I saw. That was in the summer though. I do miss the green of the NW but not all the rain it takes to keep it that way. I won’t get to ski this year but that’s more from the Covid restrictions than the move.
Here’s a rendering of the completed pool. If you squint you can see the two barstools next to the stairs, facing the TV wall That’s where I plan to watch a lot of football. -
Thanks Stalin. I thought I had a hefty budget but my dreams were bigger. Compromises were made and I still went 25% over budget. Not seen is the courtyard on the side of the house and side yard landscaping. The cost of travertine...DerekJohnson said:
That's my dream backyard right thereUSMChawk said:
We really like all the sunshine and the neighborhood will be great once it’s completed. We’re the third family to move into our new development so we’ve put up with a lot of construction. It’ll probably be another year before it’s completed, and it can be aggravating (two flat tires so far), but I look at it as the cost of appreciation. The new homes are already selling for almost a $100k more than what we paid.creepycoug said:
Congrats. How do you like to so far? I’llUSMChawk said:
Yup. Moved to AZ back in July.creepycoug said:
Did you finally leave the north end? The state?USMChawk said:
I had a nice bidding war that is paying for half the cost of this hole in my backyardYellowSnow said:I’m rich biatch for selling NE Seattle!!! But still that house has only increased since I sold.
bet you like it quite a lot right about now eh??
Any other places you considered? All western US?
That’ll be a nice pool.
I work from home so all I needed was reliable internet. I’m not a humidity fan so that eliminated two thirds of the country. Honestly, Southern California’s climate would have been perfect if it wasn’t for the politics and high taxes. Plus I’d have to sell most of my guns and magazines. We drove through Boise and Twin Falls on the way here and I really liked what I saw. That was in the summer though. I do miss the green of the NW but not all the rain it takes to keep it that way. I won’t get to ski this year but that’s more from the Covid restrictions than the move.
Here’s a rendering of the completed pool. If you squint you can see the two barstools next to the stairs, facing the TV wall That’s where I plan to watch a lot of football. -
Fair points. My two cents...RaceBannon said:
Its still relative. Our Seattle home dropped 200k in value between 05 and 07YellowSnow said:
Look ese, I was long Seattle single family when I sold in spite of all the bull shit. There’s no land to build on and too many high paying jerbs. The idea that Seattle real estate is gonna collapse is something for Tug fetishers.creepycoug said:
I think about it this way: if, in the middle of all this shit, houses in the city have continued to appreciate, then what's gonna happen when the sun comes back out, and people are boating in Lake Union and things return to normal?YellowSnow said:I’m rich biatch for selling NE Seattle!!! But still that house has only increased since I sold.
All that being said, I think zoom town RE outpaces SFO, PDX and SEA over the next few years.
Then came back the last decade
Location is still location but until the weight of rent failures and mortgage defaults is known we don't know
High end in top coastal areas will always have value because the buyer pool is world wide
I didn't imagine thousands of abandoned homes in burbs at the last crash. An entire industry sprung up
Politicians are of course in safe areas
I don’t know what percentage of single family in Seattle are owner occupied vs rentals. Also not all renters are equal right? We could have rented our home for between $3000 and $3500 a month. Renters with that kind of income probably haven’t lost their jobs due to Covid lockdowns. Apartments, are a whole different type of ball game.
I would also imagine borrowers who bought in Seattle after the crash are better qualified than those prior to 2008.
Finally, Amazon is really the game changer in Seattle and they weren’t the 3rd most valuable company in the world in 2008. Shit, they still officed up in some Art Deco building on Beacon Hill in them days. -
I’ll also add that all the bull shit that drove us away from Seattle doesn’t seem to bother most buyers. This could change, of course, but there’s gonna need to be more rapes and muggings in Green Lake.
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Very nice man. Very nice.USMChawk said:
We really like all the sunshine and the neighborhood will be great once it’s completed. We’re the third family to move into our new development so we’ve put up with a lot of construction. It’ll probably be another year before it’s completed, and it can be aggravating (two flat tires so far), but I look at it as the cost of appreciation. The new homes are already selling for almost a $100k more than what we paid.creepycoug said:
Congrats. How do you like to so far? I’llUSMChawk said:
Yup. Moved to AZ back in July.creepycoug said:
Did you finally leave the north end? The state?USMChawk said:
I had a nice bidding war that is paying for half the cost of this hole in my backyardYellowSnow said:I’m rich biatch for selling NE Seattle!!! But still that house has only increased since I sold.
bet you like it quite a lot right about now eh??
Any other places you considered? All western US?
That’ll be a nice pool.
I work from home so all I needed was reliable internet. I’m not a humidity fan so that eliminated two thirds of the country. Honestly, Southern California’s climate would have been perfect if it wasn’t for the politics and high taxes. Plus I’d have to sell most of my guns and magazines. We drove through Boise and Twin Falls on the way here and I really liked what I saw. That was in the summer though. I do miss the green of the NW but not all the rain it takes to keep it that way. I won’t get to ski this year but that’s more from the Covid restrictions than the move.
Here’s a rendering of the completed pool. If you squint you can see the two barstools next to the stairs, facing the TV wall That’s where I plan to watch a lot of football. -
We got burned in 2008, had four rentals (all in Seattle) and had to dump them, including our newly-remodeled house. After hunkering down for several years, we moved, got a much better house (for same mortgage), and got back into the rental game again. NOT in Seattle...
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Makes sense, and glad to hear you recovered. Is the notion that rents in Seattle are volatile? Or is it that underlying value is volatile? Because I gotta say, I've not seen prices drop in Seattle, ever, since I moved up here in 87.Fishpo31 said:We got burned in 2008, had four rentals (all in Seattle) and had to dump them, including our newly-remodeled house. After hunkering down for several years, we moved, got a much better house (for same mortgage), and got back into the rental game again. NOT in Seattle...
