Urbnlivn - Latest Comments in Seattle PI on seller incentives

Re: Seattle PI on seller incentives

nitsuj — Fri, 19 Oct 2007 18:03:14 -0000

I don't think she's getting a hard time on her market timing, I think it's more the fact that there are better units for less available in her building. But hey, more power to her, someone may buy it...

Re: Seattle PI on seller incentives

mattgoyer — Thu, 18 Oct 2007 13:47:24 -0000

Check this out: http://blog.foreclosure.com/2007/10/12/condo-fo...

Re: Seattle PI on seller incentives

Chris — Thu, 18 Oct 2007 12:55:09 -0000

As much as I'd like to give her a hard time for being a Realtor and not understanding basic economics, no one could accurately predict when the market would come apart. the bubble theoerists had been at it for over two years and the market was red hot as ever when she signed the PSA, I'm guessing Spring 2006.

Re: Seattle PI on seller incentives

richard — Thu, 18 Oct 2007 12:39:33 -0000

Regardless of whether it was purchased presale, the inventory levels were a lot lower when she signed the contract. Now there are close to a hundred condos for sale within 5 blocks of hers and there will be hundreds more coming on the market over the next year.

Tight inventory supports high prices. Inventory is no longer tight.

Re: Seattle PI on seller incentives

faster — Wed, 17 Oct 2007 23:01:14 -0000

But it's only seconds away from the Locks!!

The Locks!!!

You can see the rising water, the salmon ladder, and everything! Think of all the time you'll save when your parents visit. It used to be you had to drive to The Space Needle, Kerry Park, and the Locks, but now...you're only seconds away from the Locks!!!!

And on those days when you're really, really bored, you can visit the Locks because they're only seconds away! I for one don't think you can really put a price on that.

Re: Seattle PI on seller incentives

nitsuj — Wed, 17 Oct 2007 22:14:17 -0000

AH-HA!

Re: Seattle PI on seller incentives

mattgoyer — Wed, 17 Oct 2007 14:00:47 -0000

Nitsuj, she bought it at presale and closed in September at that price.

Re: Seattle PI on seller incentives

jo — Wed, 17 Oct 2007 14:00:41 -0000

she most likely reserved it over a year ago and closed on it 9/11

Re: Seattle PI on seller incentives

nitsuj — Wed, 17 Oct 2007 13:51:14 -0000

"She paid $319,900 on 9/11/2007, and her asking price is $385,000."

If she really did buy it in September I guess real estate agents ARE as clueless as we give them credit for!

/broad generalizatoin

Re: Seattle PI on seller incentives

jo — Wed, 17 Oct 2007 13:49:01 -0000

And realtors wonder why there is such disdain for them and such a want for companies such as Redfin!

They're digging their own grave.

Re: Seattle PI on seller incentives

Chris — Wed, 17 Oct 2007 11:29:49 -0000

Great last phrase:

"We all have to really work for our money now."

??!!!? wow

Re: Seattle PI on seller incentives

JDP — Tue, 16 Oct 2007 18:47:32 -0000

In your typical market you would have to hold a property for at least two+ years to recoup your investment and selling costs. That is why it usually only makes sense to plan on holding your property for 3-5 yrs. Buying at high prices for anything other than shelter can be very risky. It is kind of funny, we are back into a "normal' market and you would think it is some kind of crisis. Well it is for some. You make money when you "buy" if you buy right you will be fine, if you bought wrong it could be tough to get out with all of your clothes on.

Re: Seattle PI on seller incentives

jo — Tue, 16 Oct 2007 16:54:42 -0000

where is she getting the 20k under comps?

here's a 4th floor, view unit, more sq feet, and priced 1k less

http://www.windermere.com/index.cfm?fuseaction=...

Re: Seattle PI on seller incentives

jo — Tue, 16 Oct 2007 16:47:12 -0000

$2500? For a 1 bedroom in Ballard? Insane.

Re: Seattle PI on seller incentives

EconE — Tue, 16 Oct 2007 16:33:04 -0000

I love how she's trying to rent the place out for $2500 on the MLS when comps on CL are way less.

I have a feeling she's gonna own that condo for a loooooooooong time.

Maybe forever.

Canal Station is the new flipper central!

Re: Seattle PI on seller incentives

mattgoyer — Tue, 16 Oct 2007 16:12:33 -0000

So break even is probably around $340 considering she has to pay the other agent 4% and has to pay tax.

Re: Seattle PI on seller incentives

Cat — Tue, 16 Oct 2007 16:06:21 -0000

She paid $319,900 on 9/11/2007, and her asking price is $385,000. Good luck ...

Re: Seattle PI on seller incentives

Matt Gaines — Tue, 16 Oct 2007 14:55:41 -0000

Her neighbors are going to love her for lowering their comps.