Desperate is a Relative Term

Today’s main real estate article in the Seattle Times reads “More Sellers are Growing Desperate as Homebuying Stalls Locally.” Glad you guys could finally make it to the party–this has been going on for quite some time now. According to today’s article:

The Seattle-area housing market, once touted as bulletproof against the forces that were pulling down other markets across the country, is now stressing out sellers, who are seeing inventories rise, sales fall and prices drop. Many are shellshocked — particularly those needing to move out of town or trying to forestall foreclosure.

The thing is, desperate homesellers can be found in every neighborhood these days, and I happen to be and know quite a few of them. However, the funny thing is, this article probably paints a bleak picture for those of you lucky enough to be on the outside of the real estate market right now, but from the inside, I believe this article still paints a far rosier picture than it actually is.

For example, there’s the owner of the Factoria townhome, who’s been through the emotional ups and downs of at least two offers fallen through, but you know what? This story gives me hope that I didn’t have prior to reading his story. You see, it means that if he’s gotten two offers (albeit unsuccessful), there are actually buyers out there, those mythical creatures. 

Hey, I’m right out there on the front lines with you, desperate homesellers, with something to sell and nobody to sell it to, let alone even look. Other desperate homeseller buddies share similar stories, and collectively, our experience is adding up to about one walk through every three weeks and nary so much as a nosy neighbor at an open house.

Lucky, lucky you, Mr. Factoria townhouse owner–at least you’ve got hope.  Sigh. For some of us, it’s going to be a very long winter.

Homesellers out there on the front lines, what’s your experience these days? Are you getting lookers? Are you getting bites? Or are you just getting plain old frustrated?

Million Dollar Digs on Capitol Hill

My last post detailed some bargains just blocks from Capitol Hill. Today I’m exploring the higher end of the market. Just as the bargain homes require a certain type of buyer to appreciate them (tough-skinned, urban pioneers), these haughtier homes demand a certain type of buyer too–one with a well-padded wallet.

If you have a million dollar budget, Capitol Hill offers several options: from elegant, historical homes to modern, newly-built condos. You can live in east Capitol Hill, enjoying sweeping views high above the action on the streets; or you can live on north Capitol Hill in a grand home on a quiet, tree-lined street of meticulously manicured lawns. Either way, your digs will be sweet indeed.

1980 Harvard Ave E Seattle, WA 98102 Price: $999,000
4 Bedrooms, 3 Baths, 2,790 sq. ft.

923 13th Ave E Seattle, WA 98102 Price: $1,000,000
3 Bedrooms, 1.75 Baths, 2,480 sq. ft.

1122 23rd Ave E Seattle, WA 98112 Price: $1,075,000
4 Bedrooms, 2.25 Baths, 3,623 sq. ft.

2914 E Madison St #207 Seattle, WA 98112  Price: $999,950
2 Bedrooms, 1.75 Baths, 1,411 sq. ft.

Senate Bails the Sinking Ship

The Senate just approved the bail out that the House of Representatives rejected earlier this week.

A friend of mine believes that “instead of giving money to the banks, our government should use that money to enable the banks to refinance the loans at a more reasonable rate so that people can afford the payments and not default.” I’m not sure if that’s the right thing to do but the $700 billion bail doesn’t sit well with me. My guess is Wall Street will be happy tomorrow.

Seattle Bubble points out :

… it’s not enough that we throw hundreds of billions of dollars we don’t have at buying our own banks’ bad debt—if this version of the bailout passes, we’ll be pouring our children’s children’s children’s tax dollars into bad debt held all around the world.

Homestrology: What your sign says about your surroundings

Hey, baby, what’s your sign?

Looks like the stars can determine your decorating style, according to Homestrology, an online offshoot of Move.com. Just find your sign — if you’re not sure, consult Wikipedia’s robust page on the subject — and click through to the article about you and your style. According to Homestrology, my Libran decorating leans toward  “sweet, light and feminine. However, you are most of all sophisticated. No sign designs a room better than you; yours is the sign of the decorator, in fact.”

Well. I’m not completely convinced. But the flattery is nice.

So: what’s your sign say about you?

Via Apartment Therapy.