September 2015, Evolution of the Seattle and Eastside Housing Market, What are you seeing? (Maple Valley: for sale, rentals)

[homesinseattle]

Oh dear IRA, chill baby, chill. Go to your peaceful place and breathe, have some of your favorite pizza. I think you had some subpar coffee this morning, got rather reactive and didn't read my words very well. I'm not recommending to buy now, buying is clearly a personal decision. Everyone has their own path. Most economists agree that interest rates are going to increase. It is, for many people who are considering buying a home in the future, something to consider.

[Ira500]

Originally Posted by homesinseattle

Oh dear IRA, chill baby, chill. Go to your peaceful place and breathe, have some of your favorite pizza. I think you had some subpar coffee this morning, got rather reactive and didn't read my words very well. I'm not recommending to buy now, buying is clearly a personal decision. Everyone has their own path. Most economists agree that interest rates are going to increase. It is, for many people who are considering buying a home in the future, something to consider.

First of all, how well do people react when told to chill? Don't you think it has the effect of invalidating their points, or at least not addressing them? Second of all, I never drink subpar coffee.
Third, you started this thread. If it were someone not connected to the real estate industry, I'd put a lot more stock in it. But you're saying that there seems to be a little easing/slowing down, making it a little easier to buy. Then, when someone suggests that they might wait two years, your first reaction is to warn that interest rates are "for sure" going to rise.
But, okay, I'll play the game. In my observation, the most sought after parts of the Seattle area are easing a little. But condos and the less expensive parts of the Seattle area are red hot. In 2007, before the crash, the hottest segments of the market were condos and the lower tier/less expensive parts of the Seattle area. These were also the segments that crashed the most. I'm not predicting that the market's about to crash. I don't think it will. But I don't really have a clue. I'm not an economist, and most predictions by economists. like weather forecasters, are wrong.

[homesinseattle]

Wow Ira, I have never seen you so sensitive. I was only joking, my friend. My comment about interest rates happens to be a legitimate consideration that my buyers ask me about consistently. My job is to provide information, good and bad, then they make up their own minds.

Most people would tell you that the current upswing in Seattle real estate is based on market conditions, hiring, limited supply, much more concrete dynamics than the "time before" you speak of. Oh and by the way: if interest rates aren't higher a year from now, I pledge to put on a wig and lip synch to Billy Idol and post it for the whole City Data community to see.

[Ira500]

Originally Posted by homesinseattle

Wow Ira, I have never seen you so sensitive. I was only joking, my friend. My comment about interest rates happens to be a legitimate consideration that my buyers ask me about consistently. My job is to provide information, good and bad, then they make up their own minds.

Most people would tell you that the current upswing in Seattle real estate is based on market conditions, hiring, limited supply, much more concrete dynamics than the "time before" you speak of. Oh and by the way: if interest rates aren't higher a year from now, I pledge to put on a wig and lip synch to Billy Idol and post it for the whole City Data community to see.

This will have to be a live performance. I want to see you with a wig, lip synching to Billy Idol. Just on Youtube won't cut it. Sounds like a perfect excuse for a Seattle City-Data meetup. We can even charge admission. But I keep 3%.

[cis_love]

Originally Posted by Ira500

This will have to be a live performance. I want to see you with a wig, lip synching to Billy Idol. Just on Youtube won't cut it. Sounds like a perfect excuse for a Seattle City-Data meetup. We can even charge admission. But I keep 3%.

[Hemlock140]

Originally Posted by Ira500

This will have to be a live performance. I want to see you with a wig, lip synching to Billy Idol. Just on Youtube won't cut it. Sounds like a perfect excuse for a Seattle City-Data meetup. We can even charge admission. But I keep 3%.

I'm in for that one!

[homesinseattle]

I woke up this morning a mostly trustworthy real estate broker/remote world traveler. And now, City Data has made me a star. As Dana Carvey in Wayne's World on SNL used to say, "I'm not worthy". Either I am right on the interest rates or I get to rip out Billy Idol songs in a wig. Either way, I win. Thanks to all of you who believed in me.

[seasallyttle]

Interest rates will most likely go up and we will also most likely go into a recession so how that will impact prices here is yet to be seen. The assumption as of late in this area is that everything will keep going up, up, up but according to economists, that is not going to continue into 2017/2018 for the country overall.

[cam's mom]

We are in the Issaquah Highlands and since last summer eight houses have sold in my neighborhood of 45 houses. They all went on the market on Thursday/Friday and sold by Monday. They all sold over asking. Recently a house went on and sat for nearly three weeks. They priced too high and instead of a bidding war, they ending up dropping their price by $15,000 to secure a buyer. Lowest asking price since last summer. It is pending right now so don't know about the final price. Thanks for thread, I was wondering if our neighborhood was indicative of the rest of the market.

[flyingsaucermom]

Originally Posted by cam's mom

We are in the Issaquah Highlands and since last summer eight houses have sold in my neighborhood of 45 houses. They all went on the market on Thursday/Friday and sold by Monday. They all sold over asking. Recently a house went on and sat for nearly three weeks. They priced too high and instead of a bidding war, they ending up dropping their price by $15,000 to secure a buyer. Lowest asking price since last summer. It is pending right now so don't know about the final price. Thanks for thread, I was wondering if our neighborhood was indicative of the rest of the market.

I was also going to chime in as a Highlands resident...

I think things have slowed down here. I know of several properties that sat and sat and a few still sit...

I know one family that had their home on the market a few months back, got low ball offers and have since pulled it off the market and are renting it out (I have no clue what they wanted for it though).