Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > Washington > Seattle area
 [Register]
Seattle area Seattle and King County Suburbs
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-09-2014, 08:55 AM
 
5,075 posts, read 11,040,632 times
Reputation: 4664

Advertisements

Quote:
Originally Posted by Garfunkle524 View Post
We're buying further out from Seattle. Our house was on the market for three days and we paid slightly over asking price. The market analysis from our appraiser showed the average amount of time on the market in the last 6 months in that area was 4 days... and this is not even one of the more desirable closer-in neighborhoods.
New construction has been running at or below the replacement rate for 6 of the last 7 years, and is now just barely above that rate. There was too much construction before that, but as of about 3 years ago population growth absorbed the excess and we've been running out of homes since then.

Of course the majority of new construction is in less desirable outlying areas and this doesn't help add much to the places more people want to live.

I would not want to be shopping now. 2 years ago we bought our place as-is with no work orders despite the lousy inspection report, but at least we were able to make a competitive offer with an inspection contingency. Now I doubt that would be possible, certainly not anywhere near the price we paid.
Reply With Quote Quick reply to this message

 
Old 05-09-2014, 09:26 AM
 
Location: Woodinville
3,184 posts, read 4,835,496 times
Reputation: 6283
Quote:
Originally Posted by mkarch View Post
New construction has been running at or below the replacement rate for 6 of the last 7 years, and is now just barely above that rate. There was too much construction before that, but as of about 3 years ago population growth absorbed the excess and we've been running out of homes since then.

Of course the majority of new construction is in less desirable outlying areas and this doesn't help add much to the places more people want to live.

I would not want to be shopping now. 2 years ago we bought our place as-is with no work orders despite the lousy inspection report, but at least we were able to make a competitive offer with an inspection contingency. Now I doubt that would be possible, certainly not anywhere near the price we paid.
Yeah we toured one older house in decent condition that had 4 pre-inspections within 3 hours of its list. It was listed at 410k and our realtor said it would go over 500k without the inspection addendum easily. We went to see it in it's third hour on the market (listed at 9am, we saw it at noon) and it was like an open house there were so many people there.

That house was the exception but it was truly insane.

We're buying out in Woodinville where new construction has been seriously limited. It's nice to have some breathing room between houses. Even though they are a little older, the houses we saw out there have generally been well-kept or recently redone.
Reply With Quote Quick reply to this message
Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > Washington > Seattle area

All times are GMT -6. The time now is 12:41 PM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top