Weekly Twitter Digest (Link Roundup) for 2012-12-21
By The Tim on December 22, 2012 | 2 Comments
- RT @calculatedrisk: Lawler: Foreclosure Share Way Down, But Not All-Cash Share; Suggests Investor Purchases of… http://t.co/j5kLP0UX ->
- RT @WaLawRealty: Interesing take on redevelopment of Pioneer Squre – is future really this bright? http://t.co/8xzDuGUs ->
- Interesting read: “Lawler: On the upward trend in Real House Prices” http://t.co/nVZbGuwn via @CalculatedRisk ->
- “Seattle spends $19.5 million on 574 affordable apartments” http://t.co/nZJf1RUA via @SeattlePI ->
- Underwater on his 8 rental homes, “Landlord owes Seattle $1.76M but says he’s no slumlord” http://t.co/9PDUymgd via @SeattleTimes ->
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Posted in News | Tagged link_roundup, Twitter | 2 Comments
Friday Flashback: “I tease the bubble bloggers!”
By The Tim on December 21, 2012 | 21 Comments
Local real estate salesman Mack McCoy, writing on the now-defunct Seattle Real Estate Professionals blog in October 2007: I tease the bubble bloggers!
The people on this board have extensive experience in the real estate world, and while there may be differences of opinion among them, the fact is that their opinions deserve to carry more weight than those of the amateurs who blog as a hobby.
…
There are other sites and blogs, some staffed by experts, some by amateurs. If you think that the amateurs have somehow discovered the secrets that the Real Estate Cartel has been trying to keep from you, let me suggest to you that perhaps we’re just letting them think that those are the important secrets.
…
Since the world has become so Lewis Carrollish, I, typically a composer in the folk-rock tradition, decided to compose this little ditty, completely out of love for my fellow bloggers and, in keeping with hip-hop tradition, callin’ out those who cannot get paid to comment on real estate and are only a few hundred transactions and tens of millions in sales volume behind me. With a special shout-out to the people who make landlording worthwhile.
Let me hear ya say Ya-ay!
Mack be representin’
Seattle Shoreline Downtown Edmon’
Don wanna hear no blowin’ o’ no bubble
Don wanna be inna middle o’ no trubbleThink all the hobbyist
Need to get ‘emselves a life
Know they ain’t experts
But they preachin’ like dey right
It goes on for another five verses.
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Posted in Features | Tagged 2007, Friday Flashback, McCoy, real_estate_professionals | 21 Comments
Sales of Expensive Non-Distressed Homes Surging
By The Tim on December 20, 2012
Let’s check in on the sales histogram again.
In exploring this data, the biggest thing that jumps out to me is how much non-distressed homes above the median price have surged in the last year. This could be good news for anyone using a real estate agent Lynchburg to sell their non-distressed home. Last November there were 407 non-distressed single-family home sales in King County under $350,000 and 621 for $350,000 and up. This November there were 547 sales below $350,000 (a 34% gain) and 1,064 at or above $350,000-a 95% gain! It definitely seems like the high-end buyers and sellers are getting back into the market. Now might be a good time to check out some Falcon homes for sale if you’re thinking of moving, particularly if you need to sell as this would be a great opportunity to get the best price for your home whilst the market is strong. No doubt investors will be taking advantage of this and use 1031 exchange companies to rid themselves of old stock in favour of new properties coming to the market. To learn a little more about how price trends like these happen and how to spot them, check out the linked article by this property valuer.
To generate the chart below, I took all the sales data for single-family homes sold in King, Snohomish, and Pierce Counties from the beginning of 2010 through the end of November. Since my data download puts late-reported sales into the month that the sale actually took place rather than in the month they were reported, there is a slight difference in the number of sales I’m counting vs. what the NWMLS reports each month.
By default the chart shows just King County sales in November. Use the controls below to scroll through different months, or to see what the mix looks like for Snohomish or Pierce County. I’ve also added color-coding and controls to separate out “non-distressed” sales from the sales of bank-owned homes and short sales.