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Thinking about Buying house in Seattle area

DocuSign devgyb

Mar 18 33 Comments

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Hey folks, I am thinking about buying my first house in Seattle area (current renting)

Need advice on two things:
Should I buy now or wait for few months ... Asking because I think may be real estate market will go down and we can get better price in November/December time frame?

What area/neighbourhood are good for family with 2 kids (looking for good elementary and middle school) and commute to Seattle downtown point of view

3 33

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TOP 33 Comments

Apple Yeaux

I’m curious about people who buy homes in Seattle giving it’s a ticking time bomb that could fall into the Pacific Ocean at any minute

Mar 18 0 10
- Apple Yeaux
  
  bruh http://www.newyorker.com/magazine/2015/07/20/the-really-big-one
  
  Mar 19 0
- Apple zLaP24
  
  @Apple and since that 7 year old article more research has been done which clarified that Seattle is at limited risk from a Cascadia mega thrust earthquake. There would likely be a tsunami that would take hours to arrive and only affect low-lying areas of the city and much less severe landslides than the Atlantic article mentioned.
  
  Seattle is not a coastal city. Unless OP is planning to buy a house in La Push or Ocean Shores sliding into the Pacific is not a concern.
  
  There is actually a fault line under Seattle called the Seattle fault, it is significantly less dangerous than the San Andreas fault line which runs directly under the Bay Area from SF to San Jose and beyond. The Seattle fault has only been active a handful of times in 3000 years that’s much less than San Andreas. That’s not a reason to not buy a house but maybe reason for earthquake insurance.
  
  Sharing all this because I was born in the area, have family there, and am still fascinated by this stuff till this day.
  
  Mar 19 2
Salesforce usbjacka

Why will the real estate market go down?

Mar 18 7 2
- Meta public2
  
  When there is more supply (eg Mars is easy to live on) or less demand.
  
  Mar 18 0
- Salesforce usbjacka
  
  Thanks 🙄
  
  Mar 18 0
Amazon gkd7yz

Inventory looking bad this year: https://seattlebubble.com/blog/wp-content/uploads/2022/03/KingCoSFHInventory_2022-02.png

Mar 18 1 2
- Google pawns
  
  Along with commodity prices rise, new construction costs might rise too
  
  Mar 19 2
- Calypso Technology summera38
  
  New construction is already terribly ridiculously expensive for subpar homes…
  
  Mar 19 2
Okta OAuth0

Even if housing market cools down a bit in winter due to seasonality, remember that supply is also less during that time, so the available options to you might not be enough.
Take the first step and get pre-approved and see what your budget is.

Mar 18 0 5
- Okta OAuth0
  
  Pre-approvals are good for at least a couple of months
  
  Mar 18 0
- Lyft LCmed
  
  You will anyways need to do hard pills once your offer is accepted to get the actual loan approved and also get the best rate
  
  Mar 19 1
Amazon BYIh67

It’s a sellers market right now, you would be paying a premium. Later spring and summer will have more inventory. Would recommend upper Queen Anne for family friendly, good schools and close to SLU.

Mar 18 1 1
- Amazon gkd7yz
  
  More supply but also more buyers. Supply was higher last summer too and thats when bidding wars really picked up pace
  
  Mar 18 0

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Thinking about Buying house in Seattle area

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