The trouble with normal is that it only gets worse...
O.K., not my line, but it applies.
I bought my first house about 17 years ago, in another city, on another coast. It was normal for a house to be on the market for 90 days. It was normal for the buyer to bid $10K under the asking price. It was normal for inspection, and sales contingencies to be written into the P&S. And it was normal for the house to cost about the same as renting a similar property.
Forget bust... I am afraid that a return to "normal" will be a big shock to many people.
Fun w/ NWMLS press releases, go ahead and fill in...
"Higher inventory and sales slowdown indicate pending cooling, but higher prices continue to defy national trends. Local brokers not yet worried...looking for rebound and/or strengthening through 2007". So and so at such and such brokerage cites regional job gains and the fact that "people need to live somewhere"
December 6, 2006 ????????????
November 6, 2006 ????????????
October 6, 2006 ????????????
September 6, 2006 ????????????
August 7, 2006 Home Prices Still Rising in Western Washington, Defying National Trends
July 6, 2006 Housing Inventory Much Improved, Prices in Western Washington Still Rising
June 6, 2006 Northwest MLS Reports Growing Inventory, Rising Prices and Highest Sales Volume in 8 Months
May 5, 2006 NWMLS Reports Inventory Gains, Along with Price Increases
April 6, 2006 March Pending Home Sales Eclipse February Totals by 34 Percent
March 6, 2006 February Home Sales Lag Year Ago but Brokers Sense Rebound
February 7, 2006 2006 Housing Activity Starts Slower Than Year Ago, But Northwest MLS Brokers Not Worried
January 6, 2006 Northwest MLS Brokers Report 17 Percent Jump in Prices Despite Fewer Sales
Have been watching the reductions on this Montlake cutie for a while (formerly in the market when I thought $500-$600K could get you something decent). Nice, but still high (one lot down from busy 23rd). Almost 6 months on market! Unrealistic owner resides in Berkely, Califwhornia
Tax ID: 6788200300 2229 E Miller St, Seattle WA 98112
Listing #: 26029186
08/31/06 Cancelled $700,000 (Keep 'er going - drop by another third and I'll take a looksie!) 08/29/06 Active $700,000 06/13/06 Active $700,000 05/17/06 Active $750,000 05/17/06 Temp. Off Mrkt. $795,000 04/24/06 Temp. Off Mrkt. $795,000 03/28/06 Active $795,000 03/01/06 Active $850,000 (WTF?)
I stopped tracking foreclosures, pre foreclosures, price reductions and DOM last spring when it became clear that all were going up.
ReplyDeleteBut I'd be interested in hearing what you come up with.
The trouble with normal is that it only gets worse...
ReplyDeleteO.K., not my line, but it applies.
I bought my first house about 17 years ago, in another city, on another coast. It was normal for a house to be on the market for 90 days. It was normal for the buyer to bid $10K under the asking price. It was normal for inspection, and sales contingencies to be written into the P&S. And it was normal for the house to cost about the same as renting a similar property.
Forget bust... I am afraid that a return to "normal" will be a big shock to many people.
Fun w/ NWMLS press releases, go ahead and fill in...
ReplyDelete"Higher inventory and sales slowdown indicate pending cooling, but higher prices continue to defy national trends. Local brokers not yet worried...looking for rebound and/or strengthening through 2007". So and so at such and such brokerage cites regional job gains and the fact that "people need to live somewhere"
December 6, 2006 ????????????
November 6, 2006 ????????????
October 6, 2006 ????????????
September 6, 2006 ????????????
August 7, 2006 Home Prices Still Rising in Western Washington, Defying National Trends
July 6, 2006 Housing Inventory Much Improved, Prices in Western Washington Still Rising
June 6, 2006 Northwest MLS Reports Growing Inventory, Rising Prices and Highest Sales Volume in 8 Months
May 5, 2006 NWMLS Reports Inventory Gains, Along with Price Increases
April 6, 2006 March Pending Home Sales Eclipse February Totals by 34 Percent
March 6, 2006 February Home Sales Lag Year Ago but Brokers Sense Rebound
February 7, 2006 2006 Housing Activity Starts Slower Than Year Ago, But Northwest MLS Brokers Not Worried
January 6, 2006 Northwest MLS Brokers Report 17 Percent Jump in Prices Despite Fewer Sales
Have been watching the reductions on this Montlake cutie for a while (formerly in the market when I thought $500-$600K could get you something decent). Nice, but still high (one lot down from busy 23rd). Almost 6 months on market! Unrealistic owner resides in Berkely, Califwhornia
ReplyDeleteTax ID: 6788200300
2229 E Miller St, Seattle WA 98112
Listing #: 26029186
08/31/06 Cancelled $700,000 (Keep 'er going - drop by another third and I'll take a looksie!)
08/29/06 Active $700,000
06/13/06 Active $700,000
05/17/06 Active $750,000
05/17/06 Temp. Off Mrkt. $795,000
04/24/06 Temp. Off Mrkt. $795,000
03/28/06 Active $795,000
03/01/06 Active $850,000 (WTF?)
So, I did not notice any mention of the outlandish accounting errors of WaMu in todays newspaper.
ReplyDeleteDid I miss something or is the local media really not going to talk about this?