And in Hillary town (New York), a frigin trailer in a park can go for $125K. I don't see a problem here.
It'll be back. It always does. [fingers crossed]
ping
I'm in the oil business in Oklahoma. The MSM and West & East Coasters always think it's great when the price of my commodity goes down.
I don't see a problem here. Those wanting to buy their first home will now have a better chance. If a current owner thinks his house is worth more than the price being offered, he shouldn't sell it.
Oldplayer
Seattle is "la la Liberal" land.....they deserve what they get.....people are probably starting to figure it out....PLUS the price of housing has been skyrocketing for so long, it's time for a correction!
I guaranty that there is a logical explanation for this result. The price of homes in Seattle did not drop by $40K in one month. This just doesn't make sense. Don't believe everything you read.
Since I wouldn't live in Seattle, my highest offer on a house there is $0.00. So you can blame me for the drop in prices.
WA State Ping...JFK
Wait a minute - it is up by 8% over one year ago, how much increase does the media need to declare that Chicken Little was wrong?
Seattle has more dogs than children. Families with young children are leaving cities by the millions, looking for more space, less taxes and less expensive homes. And businesses are following these families because these families make up a stable, creative workforce.
I expect Seattle will become "Detroit by the Sea" within one decade. Enjoy.
I know a few people who put most or all of their investments and retirement in Seattle real estate.
Prepare for them to start crying that the drop in value is Bush's fault (and not the insane meteoric rise because so many shallow liberals wanted to be able to say, "I live in Seattle, and we're getting a monorail.") and for the taxpayers to bail them out. That's the financial backup plan of liberals, "someone else should pay for my mistakes."
Downtown Seattle is still BOOMING!! More and more people of ALL ages want to live here in town.
It doesn't mean much, except maybe the sellers realized that the high end market was saturated and that this might not be the time to sell.
Oh, I forgot to add, The Seattle Post Intelligencer - Intelligent as a Post.
Doomed!
In my simple way of thinking, the mean is more meaningful (no pun intended) than the median, since more data are given significance. The median is just calculated from the high and the low, ignoring everything in between.
>>"That's odd," Bob Melvey, assistant manager at Windermere Real Estate's Ballard office, said of the Seattle numbers. "My personal experience doesn't jibe with the stats."<<
All I can really say to that is... ;)
A buddy of mine REAKLLY wanted to buy this house in his neighborhood (within the Seattle city limits) late last winter. It was priced at $500k and out of his range.
It went into foreclosure and he closed a couple of weeks ago for $340k. He is completing some improvements now and will be moving in the end of the month.
It starts...
that is a HUGE DROP.