Is it a good time to buy a house in Bellevue? Listing to offer price ratios are insane people are putting 20-25% more than the listing price irrespective of if it’s a old home, very low rated schools etc. Are they overpriced or it’s just starting? Where is Bellevue market heading to?
I really don’t get Bellevue. Seattle “traffic” is a joke. And Bellevue is boring. But yes. Seattle has more cranes in the sky than any US city. It’s going to be attracting a lot of people. It’s definitely on track for a big boom cycle.
Corrupt realtors like this one are artificially inflating the Bellevue market. Get rid of real estate agents, they do nothing https://www.seattletimes.com/business/real-estate/lawsuit-eastside-realtor-and-developer-conspired-to-inflate-home-prices-for-foreign-buyers/
WTH!! This is insane
This has been going on for at least four years. Real estate agents intentionally put a low listing price to encourage a bidding war. It’s psychological. The more the price looks like a bargain, the more people want the house, which drives more offers and gets a bidding war going. The listing price is not an accurate reflection of the real value of the house. The real value of the house is best judges from the comps of other nearby houses that have sold recently. It’s up to you if you want to buy now. When hq2 is announced and if interest rates go up, I think growth will slow down (but probably not end). But then again, I’ve been wondering when the housing bubble will burst for 4 years now and it never has.
Rent and invest your money in the stock market.
HODL
In any uncertain situation - HODL