Category: Market Updates

Seattle real estate still best long term investment

For many U.S. residents burned by the housing bust, the notion that real estate can not only tread water but actually increase in value might seem a fairy tale. But, it’s not. A Businessweek.com analysis of home sales data from the National Association of Realtors shows that 72% of the nation’s 25 biggest metro areas (i.e., …

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Home Prices Declined (again) in December

Nationally home prices declined 1.8% in December according to Core Logic… Their index is down 5.46% over the last year, and off 31.6% from the peak. This is the fifth straight month of year-over-year declines, and the sixth straight month of month-to-month declines. The index is only 0.07% above the low set in March 2009 …

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What’s your Seattle area home worth today?

  About what it was worth in 2004 Oops. That means if you bought your home after 2004, your home value is likely less than what you paid for it. In their latest report, Zillow.com estimates that more than 28 percent of all houses and condos that sold in the Seattle metropolitan area in December sold for …

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U.S. housing starts and the percent of vacant housing units

U.S. total housing starts and the percent of vacant housing units (owner and rental), December 17,  2010 The graph shows housing starts through November 2010. The combined vacancy rate is calculated through Q3 based on the Census Bureau vacancy rates for owner occupied and rental housing. The good news is the total vacancy rate has …

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Rising interest rates hint of further drop for home prices

Rise in Yields Pushes Up Rates A sudden and unexpectedly quick bounce in Treasury yields has jolted the financial markets — including mortgage rates, which have risen rapidly in response. Freddie Mac puts 30-year home loan interest at an average of 4.83 percent for the week ended Dec. 16, up from a record bottom of …

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Leveling out of home values in King County, WA.?

                  Looking at median home prices in King County, WA, since 2007 The red bars in the chart above indicate the percentage change from 2007 to 2010 in the median price in King County, which covers Seattle, Bellevue, Redmond, Issaquah, Renton and parts of Bothell. While not as …

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Key to economic recovery: House sales minus foreclosures?

Real estate foreclosure proceedings have been halted at GMAC, Chase and now Bank of America, the nation’s largest bank, in the 23 states (check out the list) which have court-ordered or judicial proceedings. And so, you ask, what exactly does this mean for home sales? Or, can things get any worse?! Well, aside from the furor regarding …

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Today too many homes for sale… Tomorrow an undersupply of homes?

Tired of hearing, “Now’s the best time to buy a home”!? Well, according to some economists, the ‘now’ is definitely better than it will be a couple of years down the road. A housing shortage ahead?! Oh, give me a break! Errr, ahem… Actually, what are you saying?!

Rents in Bellevue and Seattle – a look at the last 12 months

It’s cheaper to rent in Seattle than in Bellevue…

Mortgage Activity Mostly for REFIs

Mortgages are cheaper now than they have been in a half-century…