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Well, it caught my eye when i was looking at my email history when i maintained an xls on which open houses i will go, a couple of years ago. Later, i saw comparable and felt it is good to share. I will like to know your thoughts on this. https://www.redfin.com/WA/Bellevue/4653-121st-Ave-SE-98006/home/414880 Bought Jul' 2019 for 780k and sold Jul'2021 for 1.48M --> almost twice(700k) the purchase price!! This house is across the street of previous https://www.redfin.com/WA/Bellevue/12111-SE-46th-Ct-98006/home/417412 Bought May' 2018 for 1.06 and sold Sept 2021 for 1.425M--> just 360k up. Prior house yield 2x returns than this even though this one was bought before. Is it safe to assume that summer of 2018 was bubble/seller's market and summer of 2019 was buyer's market ?
From the description and old pictures, I'm guessing the first house was heavily remodeled between 2019 and 2021, so that price difference is deceiving. You should probably add like 200k to the first house's original price.
Yes. It is known.
ok, considerable amount of correction from 1.06 (2018) to 780 (2019). What was the reason ? was it that interest rates were high in 2019 as compared to 2018 ? and if that is, do regions like bay/seattle really get affected by interest rates ? i guess they operate differently than rest of USA. There are huge volume of tech workers with insane salaries and ipo's. There is no way interest rates can be a factor for the cooldown in market.