Or so say a couple newspaper articles today, including this one from the Times with a mostly-WS focus. Almost enough to make you want to put yours on the market and reap the profits … oh wait … as we remind ourselves here at WSB HQ, the only problem with selling our house at a nice (relatively) fat price would be, then we’d have to go jump into one of those bidding wars for some other house up for sale at a nice (relatively) fat price … sigh.
You also have the ability to profitably move to North Carolina, South Dakota, Tennessee or wherever else corportations are setting up shop.
Let my equity keep growing….I’ll keep a straight face all the way through closing and then thank the person that buys my home for paying for my retirement!
We feel pretty lucky to be sitting in our new to us Gatewood (we recently learned we live in Gatewood) home. We got sharked out of another Gatewood home a few months back in one of those bidding wars and it was not very fun. No siree, no fun at all.
I feel bad for 1st time buyers. It is so tough to buy a home in this market unless you have existing equity to use as a down payment. That is why all the townhomes you see popping up are selling so well. There is a little known State program called the “House Key State Bond Program”. It has significantly reduced rates for 1st time buyers. You have to take a home buying class and your income cannot exceed $85k (higher for families). It is a little known program because lenders have to be certified by the state and their commissions are reduced as well.
The houses are not affordable here.Why would anyone want to spend more than $400k for a 1920 home with one bathroom and no backyard? It makes no sense to me.
I’ll field this one Jaja. It is because they have to if they want to live in Seattle. It makes no sense to me to commute 1-1/2 hours to Downtown from Graham. That averages $3000 in gas and 26,000 logged miles on the odometer per year for the average car just in the commute. Take a look at prices in Tokyo, London, NYC or even Chicago for that matter. It is the natural evolution of the city center and we are no different (except those cities were smart enough to build decent mass transit when they had the chance).
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