November 23, 2017

Where do you think the bottom of Seattle’s housing market is?

Here is an opportunity to share with the World Wide Web where the bottom of the market is? Interestingly enough people are split 50/50 now. Those who are buying as first time home buyers are excited because the dollar power is stretched not only by low interest rates, also by the lower real estate values! There are also families who are looking to take advantage of buying up. We have a client right now who purchased four years ago, can sell his home for a profit, yes a profit, and use those proceeds for a down payment on a larger home and have a lower monthly payment. Why? Because of lower interest rates and reduced values. Sell low Buy low, Sell high Buy high. Real estate may be the total opposite of the stock investment rules but it is a reality.

There was a general calculation that many debate about, if you put 20% down on a home and the mortgage payment is more than rents in the market, there may be a floor/bottom that hit in values.

We want to hear what your thoughts are: Please be respectful of everyone’s opinion. Some may just need to vent and others may post valuable information that others can learn from.

Best regards,

The Mortgage Reel Team

Hire The Right Team. How Can We Assist You?

(206) 219-3088

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  1. Terry Rathford says:

    It all comes down to the reaction of the buyers this spring and summer. If the activity picks up as it has in the price range of $330,000 and below we may see values stabilize somewhat. I have heard that lenders may begin to ease underwriting so that will also create new opportunities. I heard that homes in the $319,000 price range increased in sales over 40%. Can anyone verify if this is correct?

  2. Where do you think the bottom of the market is in Seattle? Keith Akada and Steven Fujita of Mortgagereel write a good article about the decline of interest rates and for the first time in a very long time, people can actually buy a property and the rents will cover the mortgage. WOW, what are people waiting for?

  3. Teddy Lim says:

    I honestly believe that 2009 will see the absolute bottom and turn around year of the market. It’s true that everybody is focused on what stocks are doing right now and yet we know that time and time again, the fact of the matter is that net-net bottom line, the biggest market gains come directly after the markets biggest busts!

    The years 1932, 1937, 1974 and 2002 have all witnessed deficits ranging anywhere from negative 18-34%. Here’s what they gained only a year after: 1933 up 76%!! ; 1938 up 18% ; 1974 up 39% ; and finally in 2002 the market roared back at a whopping 30%!!!

    My only question for buyers (exclude speculators) out there is what would be the least costly mistake for them?!?!?

    Will waiting for the market to dip (while rates, prices, inventory and government tax & seller incentives are all circumstantially lined up to provide the greatest absolute return on investment they’ve ever been in our country’s history!!) really do them any long-term good?

    The answer is clearly that if they’re in it to buy-and-hold they can never lose. Period.

  4. If one wants to buy a home for the long term now is the perfect time to buy. When is the bottom of the market? When prices are down, when interest rates are down and when investors are buying…. mmmmm… seems like we are there now!

    With the homebuyer tax credit to help out the first time homebuyers and low interest rates buying as a long term is a good thing. If you are thinking of buying and flipping that is a different story. Bank foreclosures are high and the prices on those homes are good. So…

    I agree with Teddy, above, and wish you all the best of luck in searching for a home and finding exactly what you desire.

  5. The Real estate market is on it’s way back up as I see home sales jump in the last month and sellers increase prices of homes that are on the market.

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