January 26, 2007

South Seattle: The 700K Club

Time again for another of my derivative posts. Forgive me, because I find these comparisons quite fascinating on national, local and neighborhood levels. On the subject of derivative, have you read this article about real estate blogging?

Seems that subject to inspection is what you get for $700K in my environs. A fast check of listings between $650-750K turned up four properties in my purview and two of them are STI. Interestingly, three of the homes were priced below $660K and the house priced at $699,950 hasn’t moved in quite a while. Aside from having 3 or more bedrooms this quartet has few commonalities. Rather they are a group of extremes: the fixer upper and the beautifully staged home are the two under inspection, and of the two active listings one just went up and the other has been on Redfin for over 50 days. Though you will pay more per sq. ft. for two bedrooms on Lopez Island than for any of the Times’ listings or mine, at $192 per sq. ft. the Beacon Hill fixer upper comes in at the lowest.

Now the fun begins as we watch the clock on the newest listing to see when it joins the offer-has-been-made guild. Think anyone is counting the minutes in North Carolina or Minneapolis?