Comments on: Sunday Seattle Times

By: Tim

Tim — Thu, 07 Sep 2006 17:17:32 +0000

Put it this way, I am currently renting a unit in the Tavona condos. (tavona.net) My unit sells for $650,000.

To rent said unit is $1300/mo.

Explain to me how it would be cost effective to buy this unit instead of rent it?

By: Peckham

Peckham — Thu, 31 Aug 2006 03:03:54 +0000

Agreed. Unfortunately, only about 7% of the condos listed on this blog are priced at $300K

By: Bob

Bob — Thu, 31 Aug 2006 02:10:42 +0000

Thanks for the compilations. If they price a condo in the metro area at $300s, it will sell. Period.

By: Peckham

Peckham — Wed, 30 Aug 2006 01:08:43 +0000

Take a look for yourselves, and tell me if it fits the definition of a bubble:

BUBBLE

Definition:
A description of rapidly rising equity prices, usually in a particular sector, that some investors feel is unfounded. The term is used because, like a bubble, the prices will reach a point at which they pop and collapse violently.

See: http://photos1.blogger.com/blogger/6511/
1295/1600/27leon_graph2.large.gif

By: anon

anon — Tue, 29 Aug 2006 23:33:58 +0000

The sky is falling! The sky is falling! Aaah! Run for your lives!

People are funny. They say you shouldn’t have listened to all of the experts at the height of the market. Now we should all listen to them because they say the market is crashing.

Do some homework. Do what feels right. The market is definately slowing. What does this mean? The real estate market is no longer the latest “get rich quick” scheme. It’s simply back to what it should be: a place for people to buy a property in a neighborhood they like, because it feels good and it worked pretty well for their parents and grandparents.

To all the doom and gloomers out there: chill out, it’ll be okay.

By: Peckham

Peckham — Tue, 29 Aug 2006 14:40:11 +0000

“Renting or buying: the pluses and minuses. This is a bad article, they shouldn’t have run it.”

I have to assume your comment is sarcasm. Personally, I find it refeshing to see a few ounces of truth printed amongst the gallons of marketing BS that has America snapping up homes like the last few potato chips at a post-HempFest party.

Owning in Seattle will cost you more than renting, and with an impending real estate market crash on the way, hopes of cashing in on equity will be a fleeting aspiration.

The most recent report on existing home sales was not inspiring: It said that sales had dropped to their lowest level in two years during July, that inventories were at their highest since 1993 and that price appreciation has slowed almost to a standstill compared to one year ago. The time-bomb has already gone off in many parts of the country, while it is still ticking in Seattle. It’s only a matter of time…