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Old 01-04-2008, 01:42 PM
 
86 posts, read 403,165 times
Reputation: 24

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Well call me delusional....
Should I just give the house away? Hell no...I am not that desperate..
I feel sorry for those who had to do that..
Right now I rather rent it until the market gets better or a decent offer comes in.
How is that delusional?
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Old 01-04-2008, 06:10 PM
 
59 posts, read 224,143 times
Reputation: 57
This idea that Seattle is somehow special and will avoid the downturn in the housing market is most likely wishful thinking. San Diego isn't exactly a horrible place, but look at what's happened to their housing market the last year. Seattle is on a similar path, just behind a year. If you graph median house prices of San Diego vs. Seattle offset by a year the path both are taking is eerily similar.

http://seattlebubble.com/blog/wp-con...oast200709.png

Yes, this is the slower time of the year, but compare the difference to the same time last year - sales are down and listings are way up.

http://seattlebubble.com/blog/wp-con...dpct200711.png
http://seattlebubble.com/blog/wp-con...mand200711.png


Maybe things will turn around this Spring, but I wouldn't want to bet on it.
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Old 01-05-2008, 12:22 PM
 
1,961 posts, read 6,124,507 times
Reputation: 571
I don't expect the market to explode, I just had noticed that finally after the holidays people are out looking again.
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Old 01-05-2008, 09:02 PM
 
67 posts, read 339,451 times
Reputation: 32
Fastsix,
I think that you may have a point. I'm moving back to Seattle ( Monday, Jan 14th), after living in San Diego for over 20 years. I have an interest in both San Diego's and Seattle's real estate markets. Seattle's real estate market reminds me so much of San Diego's market about two years ago. Then the bubble burst in San Diego. The average homeowner practically has to give their home away now. It's pretty bad. Houses were going for obscene amounts a few years ago in San Diego. Now I see the same thing in Seattle, it's like de-ja vu, really weird. What goes up, must come down.
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