Those of you making offers on homes right now, what are you seeing? (Seattle: low income, rent)

[homesinseattle]

Seacove, they are reviewing offers for that condo on Monday. Bet it gets bumped up at least to $200K.

[Seacove]

Originally Posted by homesinseattle

Seacove, they are reviewing offers for that condo on Monday. Bet it gets bumped up at least to $200K.

That much, really? For only 700+ sq. ft. in Lake Stevens? The price gets attention so the agent wasn't wrong to do that I guess.

[homesinseattle]

Whoops, didn't see the square footage, busy day. That is small, Lake Stevens is pretty popular though. $150K for sure.

[Inkpoe]

Originally Posted by DutchessCottonPuff

Yeah I won't be doing that . I have a little cash coming to me from my mothers death and I was going to do the down and husband the payments on a very tight budgeted condo ( some how our credit is still surprisingly decent despite all this mess whether he does become a nurse or goes back into aviation ) saving back all the rest , but after reading this just ...no . It's pretty here yes but I am not losing what ever I have thats meant to last the rest of my life , which it will . If my husband were to pass I would be in serious trouble .

I don't think I would have even entertained that idea in my 20's .

My husband's cousin recently brought a condo recently either in Lynnwood or Kenmore area and he was a bit bitter because there was multiple offers that he had to basically enter a bidding war. He had thought condos was a safer route and that he wouldn't have to deal with that kind of competition. We didn't think to ask how many there were, but the thought it applies to condos outside of Seattle really just amaze me.

[87112]

Thank you AMZN, MSFT, tech companies and all these bidding wars. My life will be mortgage free and debt free for life because of the explosion in population and home prices. I think the quality of life has suffered a ton here but some of us are truly blessed by it also.

If it approaches SF prices I am all for it, that would be a payday for the ages. It sucks cause you guys buying in now have no idea how nice it WAS.

[mhays25]

Very few condos are getting built. Defect liability laws make them expensive and risky to build. So supply is low.

[DutchessCottonPuff]

Originally Posted by Inkpoe

My husband's cousin recently brought a condo recently either in Lynnwood or Kenmore area and he was a bit bitter because there was multiple offers that he had to basically enter a bidding war. He had thought condos was a safer route and that he wouldn't have to deal with that kind of competition. We didn't think to ask how many there were, but the thought it applies to condos outside of Seattle really just amaze me.

Me too and some places of all sorts that were NOT cheap I have seen are in bad shape , moldy , heck MOSSY even and I have noticed in some places lots of trash both like as in squatters have been in it or OUTSIDE that would take forever to clean up .. ( I've been looking out in Thurston county too just in case I can find something to have my broodmares on again) but like you I don't want to get in to a war with 26 other people or buy impulsively because I have too . You are right it IS crazy .

[thatguy950]

Originally Posted by mhays25

Very few condos are getting built. Defect liability laws make them expensive and risky to build. So supply is low.

They seem to be building them at a ferocious pace in Bothell, Mill Creek, and other north sound locations. I wash shocked to see the condo/townhouse construction in those areas when I was there last week. It had only been a couple months since I'd been there and was told there was a lot being built, but I was definitely surprised to see what is actually going on; Bellevue too...

[Seacove]

There is a ton of new construction in northeast Bothell, there must be a dozen new developments all around the new North Creek high school. I always thought the positive of new construction is, while the lots are very small, there's no need to compete since the price is the builder's list. The developments around there all look nice (from the car) but apparently the builders are putting them up to bid, so it's still competitive.

[tommy64]

I have 3 houses in Pierce County and am getting 4-6 pieces of mail per month for all cash offers from wholesalers as far away as Denver looking for inventory to flip.