Even with thousands of new apartments on the way, concludes Everett Rummage, “with the city’s economy recovering, and unemployment continuing to fall, there’s no reason to expect the rent to remain anything but Too Damn High.”
That’s the opposite sloganeering spin of Seattle Bubble, where the headline is “The Rent Won’t Be Too Damn High For Long.” Continue reading Are Seattle’s Rent Prices Heading Up or Down?
Seattle Bubble, not easily impressed, is impressed: “the spring bounce in 2012 has shot the median list price per square foot to its highest point since November 2010.” Sale price, at about $175 per square foot, is lagging list price, which is north of $195 per square foot, but catching up as sellers latch on to their leverage: very low inventory. King County has the fewest single-family homes on the spring market in over a decade. Continue reading In Seattle Real Estate, a Big Spring Bounce for a Happy Few
Seattle Bubble readers are sharp cookies. The very first commenter zeroes in on the difference between the state’s past obligations and current spending: “Like most states and cities, the increase is from pensions (retired state employees living longer, with bigger pensions), and from health care costs for both current and retired employees and medicaid recipients outstripping inflation by a large margin. $2 billion removed from what’s left after these and other mandatory spending hits the remaining programs very hard.” Continue reading Seattle Bubble Commenters Explain the State’s Budget for You
Redfin’s Seattle-area heat map for July shows a few bastions of hot property (prices up, multiple offers): Magnolia, Ballard, Queen Anne, and North Seattle. They’re enough to keep Seattle at 12th on the national heat index (but at a tepid 56.6 “degrees,” behind Portland at 59). Home values were down most in Lake Union, Rainier Valley, Lake City, Delridge, and Snoqualmie Ridge. Continue reading Redfin: “It’s All About the Inventory”
Redfin has created a quick way to see where the hot real estate markets are, rather than poring over spreadsheets. If you are a true real estate wonk, you probably still want to check out their June data, since the map (below) differs in some respects from the detail you get from the numbers: As Redfin’s Tim Ellis explains, “The map breaks it down by zip code (and uses SFH or Condo or Townhome, whichever had the most sales in that zip code), but the table shows neighborhood breakdowns (and uses only SFH).” Continue reading Seattle Real Estate “Heat Index” Map Tracks Lukewarm Summer Temps
Seattle Bubble describes the unusual foreclosure picture best: “Foreclosures Establishing an Elevated Flatline.”
Despite a national trend of foreclosure footdragging, RealtyTrac puts Washington State at 15th highest for foreclosure in the U.S., looking at filings for the first two quarters of 2011. Overall, RealtyTrac claims that 1 in every 632 Washington housing units received a foreclosure filing in June 2011. Continue reading Foreclosure Delays Cast Shadow on Real Estate Market
