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Related Content from Around Faves
mortgage
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There's no doubt that the mortgage crisis triggered this downturn in the real estate market. The latest news that the gov't stepped in to save Fannie Mae and Freddie Mac caused mortgage rates to drop by nearly 1% yesterday. Problem isn't just the rates, it's also the difficulty with which buyers are having getting approved for loans, as well as general reluctance to buy before the perceived bottom of the market has hit.
Aside from general price destabilization, increasing amounts of short-sale and foreclosure properties, both of which are priced well below market value, affect overall pricing stats as well.
1 FaverViewed: 4 TimesQuoted: Real-estate brokers said the August numbers reflect more willingness on the part of more, but hardly all, sellers to ask less for their houses to increase the odds they will find buyers
- lordfinance - yesterday13 Favers
- ClaraSet - 2 days ago5 Favers
seattle real estate
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We are definitely seeing a trend of younger, first-time buyers getting in on purchases in this market. There are some amazing deals to be had in lower-priced areas with inventory and very motivated sellers, and buyers that have been sitting around and watching have already seen deals that are good enough to get them buying.
Another trend that I think we'll start to see as foreclosures increase are good deals from bank-owned properties. I'm seeing these mostly in the outskirts of the city and outside of King County.
1 FaverViewed: 3 TimesQuoted: Last month, the county had a 5.9-month supply of homes for sale. A six-month supply is considered a balanced market, favoring neither buyers nor sellers.
- Rich - Apr 03 20081 FaverViewed: 8 Times
- Rich - Dec 26 20071 FaverViewed: 10 Times