What is wrong with Sammamish housing market?
I live in Seattle WA. I am looking to buy a home at Sammamish area. I put an offer for this home: https://www.zillow.com/homedetails/272-247th-Place-NE-Sammamish-WA-98074/60963560_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare Offer was 150k above asking. Then we learnt that there were multiple offers significantly higher than ours. We are taking about offers like $780 to $800 per square foot. This is insane. How in hell they finance such expensive houses?
Whatβs your household income?
Welcome to bidding war market. Actually this house was under the market on listing
Why would you move all the way out there?
Don't put early offers if you are doing so. Listing agents just go back and forth with higher bid buyers and get them to bid more and more.
Op, you didn't get any good responses from your reddit post?
I actually agree with you OP I think the housing market there is a huge ripoff. Absurd prices for such long commute. This is 1.5 hours from Seattle during rush hour.... for well over $2M? And not even 3000 sqft? π ββοΈ
This is 1.5 hours from homelesses in Seattle Low inventory => high prices
Itβs a 5 minute drive away from the #7 ranked public school in the country. Nobody is buying these homes on just their base salaries
Heard from someone that houses in Bothell are going at 1.75 M for similar sq. Footage. So if you consider that paying 1.9 for this house is probably worth. The bidding wars are crazy in Sammamish.
I stopped seeing the point in trying to outbid and pay $200-$250k above listing to win. Decent 3/4 bedrooms are available in Redmond/Bellevue WA for ~$4k, within 20-30 mins commute time to work. Assuming one stays in this area for 4-5 years, better off just renting and putting the extra $$$ in gold/stocks. If you are Indian, do what i did- take ur sweet $4-5M, move back n live like a king :)
Are you still working in india? Considering 4m you might be making 1.5 crore in fd alone?
Doing the same thing. Rent till then. Move back with all the invested money. By renting you can get best schools anytime for which people are out bifding like crazy
Schools and all MS managers - Seattle is shit, Eastside is π
Probably for people in their 60s. There's nothing on the Eastside.
Yes nothing on eastside including homeless people, lawlessness, unsafe neighborhoods