Zillow Advice: Market conditions - King County Sales up 8% from January to February 2009

Different situation out in ...

Mon, 27 Apr 2009 17:12:00 GMT

Different situation out in the north and south counties with these developed and unbuilt plats that Geordy was referring to.

As for Mad Park, I've actually seen some good sales activity (I'm sure you have too) in your neighborhood, pendings in the $3-5M range. So people are buying. Prices are dropping, people are buying...just a matter of finding a point where those supply/demand lines collide.
And if you "would have sold" in the past two years to buy up...you should be doing so immediately, pre-rebound. Real dollars are in your favor.

My big fear is that there's ...

Mon, 27 Apr 2009 16:50:00 GMT

My big fear is that there's a ton of "shadow inventory" hiding out, ready to come onto the market as soon as there's a rebound. How many people do you know that would have sold their home in the last 1-2 years if it had been a better market. I'm among them. I worry that new supply will come onto the market and soak up any new demand, and it's going to take us a while to work through all of the inventory.
In my area (Madison Park), there are a lot of listings right now, and more coming all the time. And the price drops just keep coming.
Sorry to be a downer. I hope I'm wrong and things recover quickly.

I'd LOVE to be a buyer right now. Wish I were renting...

Are they short sales? ...

Mon, 27 Apr 2009 09:40:00 GMT

Are they short sales? Or are they the less expensive homes that builders seem to be moving towards to get some action going on their mothballed plats in Sno County?

I visited a brand new plat ...

Wed, 25 Mar 2009 00:31:00 GMT

I visited a brand new plat in Lynnwood of 90 homes or so. The site agent has sold 10 of them this month. Those are right in the price range you mentioned of $300k-$350k. She did drop the prices by $75k to get them in that range though.