November 24, 2017

Seattle Real Estate Market gets national air-time by Diana Olick, CNBC Special

Diana Olick, Home Realty Check on CNBC, travels to Seattle to do a live report on what unique opportunities we have to offer.
“Seattle DOES NOT Rank in the top 100 cities for foreclosure” The current Median Home Price has declined from $365,000 to $285,000
$285,000 $365,000 Median Home Price, Unemployment at 8.8% under the National Average with a Median income of $81,700.

Local builders in Seattle find it more and more difficult to secure financing to build new homes. But some like Shea Homes is seeking private equity to build out new home construction geared towards the “thriving active adult demand”.

What are your thought about new construction? Are you more interested in purchasing a new home or a resale? We see clients who are on both sides of the fence. Let us know your thoughts below.

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  1. James Holden says:

    Dear Ms. Olick

    My wife watches your show every day. You are always taking on challenges to various people and companies that have a positive or negative impact on society and I appreciate and enjoy when you do so. I am emailing you to ask if you can help expose and the adverse impact they are having on the housing market.

    Zillow continuously publishes a Z-value with a high and low range, which has no relation what so ever to market reality. I am neither a real estate expert nor an expert in any subject matter, but I do have a BSME, MBA and the highest achievable certification in six-sigma quality and have a fair understanding of statistics.

    I do not know where Zillow gets their information, but based on the housing in my neighbor much of it is incorrect. Last month Zillow showed all the houses in my area of the neighbor decreasing approximately $8000.00 in value. This is statistically impossible due to the extreme variation in homes such as square footage, number of bedrooms and baths, upgrades (internal and external).

    The market value of my house based on tax assessment, insurance assessment and price per square foot for recently sold homes in the neighborhood should sell between $315000 and $340000. The Z-value is approximately $274000 with a range of approximately $247000 – $299000.

    People look at the Z-value and range, then come in with extremely low-ball bids. Zillow is setting a false expectation in the market place making it more difficult to sell existing homes. I would like the opportunity to heat the explanation from Zillow’s CEO for how they do business.

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