Seattle housing market - is it a good time to buy?

Apr 25 57 Comments

What the read or recommendation on buying a house in the Seattle market now? Specifically on the Eastside? I see more homes are listed now and the list vs buy price is not crazy like we saw a few months back. Is now a good time to buy? Or the prices will stabilize more?

TC - 300k #mortgage #housing #seattle

Housing Zillow Group
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  • Buy now. Offer at least 20% over list. Houses will double in price by next year.
    Apr 25 6
  • Netflix
    bjer26

    Go to company page Netflix

    bjer26
    I still believe there are more demands than supplies although the situation is getting better over the past a few weeks. But I donโ€™t think the housing market is going down anytime soon.
    Apr 25 3
  • The best time to buy is when you are ready
    Apr 25 1
  • Competition is lower due to higher rates. If you can afford it now buy and refinance when rates cycle back down
    7d 5
    • My position hasn't changed but your original reply seemed to imply that now is 'not a good time to buy' and my reply to that is that while I don't foresee a downturn anytime soon, I'm not going to pretend to be able to actually predict what the market will do. If you can afford to buy and want a house, then do it, but be okay with getting stuck for a while because shit happens?
      7d
    • Google
      puzzeled10

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      puzzeled10
      Same argument ppl gave at the height of stock market, that it may go down a little bit but if you are in it for long, then don't be afraid, go buy it.. since then stonks are done.. Zillow was $200, now it is $40.. redfin from $90 to $10.. xhb out 20%.. somehow housing market can go up when stocks go up, but can not come down when stocks go down.. sounds good Zzzzz Zillow Group
      7d
  • Duke Energy / Eng
    Unvanish

    Go to company page Duke Energy Eng

     Unvanish
    donโ€™t listen to these fools, i do real estate investing and manage 200+ doors bringing in $2mil/year in income. TC is 440k from tech job.

    The best time to buy will be around q1 next year or near end of q4 this year if a seller is looking to 1031 exchange.

    That being said you should buy if

    1) the location is unbeatable
    2) your overpaying by a small amount think (50k = 10k downpayment is ๐Ÿฅœ)
    3) dream house thst you will br living 30 years
    4) unique lot size/penthouse etc that you wonโ€™t find again.

    the property will appreciate in the long run. take out a 3-5year arm product and refinance for a lower rate in the future. Your TC is tied to stock market so careful with affording payments. Properties are overpriced and will face a correction to 10% above prepandemic levels as interests rates rise. Anyone that says different is an idiot.
    7d 3
    • "the property will appreciate in the long run."

      I mean, maybe but using historical data, this is false. Home prices go up because of inflation, but adjusted for inflation, most home owners actually break even. Price per square foot (inflation adjusted) for example has remained the same since 1978. House prices have been basically flat for the last 100 years (inflation adjusted), ignoring the last 3 or so years.

      Bigger numbers != appreciation in real terms. If your house price has doubled, but everything else has doubled, it means your price has tracked the market, not outgrown it.
      7d
    • Amazon
      aIvh80

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      aIvh80
      How many years did it take you to own 200+ doors?
      7d