Why is east side seattle slowing down ?

Amazon
Fhdk58

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Fhdk58
Mar 27 101 Comments

Info from agent. They’re seeing offers with contingencies and not much of bidding wars like before. Went to some open houses & they were empty. Bellevue/Sammamish

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 TOP 101 Comments
  • Everyone scared
    Mar 27 19
    • Square
      LuvSqrd

      Go to company page Square

      LuvSqrd
      Transaction costs (roughly 10%), interest (roughly 70% of the first year’s payments are interest), and maintenance (surprise, new roof!), are three easy ways to lose money in real estate, especially if you are forced to sell at a bad time.

      Add in the leverage with your down payment and that means the first 20% you lose is 100% of your money!
      Mar 28
    • Uber
      KzmP06

      Go to company page Uber

      KzmP06
      There free investment calculators online. They can show how much you earn or lose. It has a lot of parameters including mortgage rate, all insurance and HOA. It also includes agents fee when sailing and that you pay more of interest in the beginning. So effective rate if you sell house in 3 years will be no 3% but much bigger
      Mar 28
  • Rates up, stocks down, inflation, gas, war and massive incoming inflation might be contributing
    Mar 27 6
    • Oracle
      waznttme

      Go to company page Oracle

      waznttme
      Spring Break? May/June is the hottest time of the year to put your house up for sale and worst time to buy as everyone who fits the demo for house buying is looking to buy. Why? Cause kids will be on summer break and it's perfect time to close and move into a new house or move out. Home sales are seasonal as well
      Mar 28
    • Uber
      KzmP06

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      KzmP06
      End of March and April is worst time for buyers.
      Mar 28
  • So east side housing has gone up almost 50% or more since 2010 Summer. The question to ask ourselves is - what made these homes 50% more valuable ? If the answer is something like… interest rates were low or people needed bigger homes to wfh, then the bubble is ready to burst …

    Afaik, the job market in greater Seattle hasn’t skyrocketed, in fact more jobs have now an option to work remote or from other offices. Amazon price hasn’t grown like before, so I’d like to hear the views from others on why housing will keep going up
    Mar 28 7
  • Intel
    mr.soho

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    mr.soho
    Because market is turning very very very quickly for the favor of buyers. It will be shocking.
    Mar 27 7
  • Nestle
    Schokolade

    Go to company page Nestle

    Schokolade
    I am aiming for a lower price point so all I get is shitty homes, but still, I see fair enough competition.
    However, if the home is at the market on Thursday and you want the offer on Monday, giving me no inspection report, a real estate agent without answers, I am not removing any contingencies. I hope people are realizing that removing contingencies was not a good idea.
    I literally saw two houses this weekend (not on the east side) trying to sneak the homes’ problems by rushing you (one foundation problem and the other lot encroachment war with a neighbor). Sorry, not sorry.
    Mar 27 4