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Old 06-23-2016, 03:21 PM
 
Location: Independent Republic of Ballard
8,062 posts, read 8,313,435 times
Reputation: 6218

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Home prices rising faster in Washington than in any other state | The News Tribune

Quote:
Washington home prices in April rose 10.6 percent compared with a year ago, the biggest jump of any state in the nation for the third month in a row, according to the data firm CoreLogic. Going back 40 years, the only other time Washington topped the list was a three-month stretch in the winter of 1989 and 1990.

Washington prices are growing at a rate nearly double the national average, and beating out second-place Oregon (up 10.3 percent) and third-place Colorado (up 9.5 percent), CoreLogic reported.
Seattle Metro 12%
Tacoma-Lakewood 8.2%
Olympia-Tumwater 6.1%
Wenatchee -3%
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Old 06-23-2016, 07:31 PM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,269 posts, read 80,499,367 times
Reputation: 57193
Popular state to move to. Good for those of us that have owned a long time and are planning to sell in a few years, but not so good for the young couples starting out with their first house.
We paid $190k in 1993 and now valued at $680k, and going up.
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Old 06-23-2016, 07:35 PM
 
17,199 posts, read 12,055,790 times
Reputation: 17122
We're looking at places under $250k in the Vancouver area now. Still lots to choose from at that price point, but competition is stiff. Our realtor is saying that a bubble burst is coming in a year and a half as average incomes are not keeping up. But "affordable housing" in the price range we're looking at should largely be unaffected.
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Old 06-23-2016, 09:13 PM
 
17 posts, read 13,469 times
Reputation: 23
My recent search into WA housing has yielded loads of forclosures.
Reminds me of time in CA & not so long ago....
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Old 06-24-2016, 07:33 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
34,644 posts, read 57,693,044 times
Reputation: 46095
Just got property revaluations. Ugly and disruptive for senior with no income, when already paying $16,200 / yr taxes on a home I built for under $100k. Many times higher than a mortgage,

This is not so much of a buble, as it is the USA and WA very clear delineation of our new 2 class society.

Get used to it, it too will be very ugly.

We perpetuated it with increase in minumin wage and so many restriction and added expenses and assigned risk to business owners and employers. These costs are rolling up, and flowing down, and will disrupt and even destroy the lives of many. (Including seniors / fixed income people who bear higher property taxes till they break the bank).

My property taxes and healthcare have increased 1000% in last 10 yrs. Income increased Zero. Eat and entertain on $100/ month, same as I have for 40 yrs.

Hang on...
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Old 06-25-2016, 12:51 AM
 
28,107 posts, read 63,486,210 times
Reputation: 23225
Property Taxes and Health Care are really taking a toll...

My rude awakening to Washington Property tax was seeing my property tax go up 80% after I-747 was tossed out by a Judge...

It takes 8 to 9 full months of rental income to pay property tax and insurance...

I love the PNW but doubt it will be sustainable for me on the property tax side of things.

No personal Income Tax is great for people making lots of money... not so good for those that are retired...
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Old 06-25-2016, 10:25 AM
 
9,868 posts, read 7,633,824 times
Reputation: 22123
Quote:
Originally Posted by Ultrarunner View Post
Property Taxes and Health Care are really taking a toll...

My rude awakening to Washington Property tax was seeing my property tax go up 80% after I-747 was tossed out by a Judge...

It takes 8 to 9 full months of rental income to pay property tax and insurance...

I love the PNW but doubt it will be sustainable for me on the property tax side of things.

No personal Income Tax is great for people making lots of money... not so good for those that are retired...
Yup. Worse yet is the continuing effort to tax the "rich retired people", most of whom are not rich at all. Rob people who spent their lives living responsibly so that they might enjoy retirement. We get taxed more and more so that more amenities are given to people who are not taxed at all, or taxed at a lower rate. And then they wonder why rents are so high, or why property owners choose to rent to vacationers at really high rates instead of regular tenants...it ain't rocket science.

This state needs a personal income tax, offset by lowered sales and property taxes, to distribute the eggs among several baskets. That way, the pain is felt across more people and less unevenly.
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Old 06-25-2016, 10:46 AM
 
17,199 posts, read 12,055,790 times
Reputation: 17122
Property taxes here are still half the rate they were back in Ohio...and they have state and local and school district income taxes as well as a sales tax. Overall tax burden here is still on the low side. Especially if you shop in Oregon.
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Old 06-25-2016, 11:05 AM
 
28,107 posts, read 63,486,210 times
Reputation: 23225
Isn't it tax evasion to purposely shop in Oregon with the intent of using the product in Washington?
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Old 06-25-2016, 11:45 AM
 
8,799 posts, read 6,742,311 times
Reputation: 8542
It's legal, but it's not terribly patriotic. It's a loophole to avoid paying your fair share, and putting your own wallet before your country (and state).
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