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- SEATTLE HOME VALUES DOING BETTER THAN REPORTED
- February 23, 2011
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AOLRealEstate.com
By Barbara Correa"So, what does all this mean for Seattle and other "stable" markets that now seem to be on the ropes, like D.C. Metro and Baltimore?
It means prices in those markets will stabilize and maybe even rise, says Miller. HisReal Estate Business Intelligence Pending Home Sales Index released last week shows home sale deals jumped 34% in January from December for the Washington DC Metro and Baltimore regions. Miller doesn't do Seattle, but he predicts that sales activity will be a lot healthier there than the NYT snapshot suggests."
- CASH DEALS PUSH HOME SALES HIGHER, PRICES DOWN
- February 23, 2011
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USAToday.com
"For January, sales were up in three of four regions of the country, led by a 7.9% rise in the West. Sales were up 3.6% in the South, 1.8% in the Midwest and down 4.6% in the Northeast.
The January increase was driven by a 2.4% rise in sales of single-family homes, which pushed activity in this area to an annual rate of 4.69 million units. Sales of condominiums were up 4.7% to a rate of 670,000 units."
- HOUSING AFFORDABILITY REACHES 20 YEAR HIGH
- February 23, 2011
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REALTY TIMES
By Carla Hill"According to the latest National Association of Home Builders/Wells Fargo Housing Opportunity Index (HOI) data, "73.9 percent of all new and existing homes sold in the fourth quarter of 2010 were affordable to families earning the national median income of $64,400."
- FOR THE WEALTHY, LUXURY IS BACK
- February 21, 2011
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USAtoday.com
By Gary Strauss"Wealthy Americans seem to have decided that it's OK to splurge again — a hopeful sign for an economy mired by slow growth, stubbornly high unemployment and depressed home prices.
Luxury and high-end marketers have picked up on what they hope is a growing trend, offering products that bank on a looming spending spree..."
- HOME SALES GROW, AIDED BY MORE STABLE PRICES
- February 10, 2011
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CnnMoney.com
By Lee Christie"Home sales clearly recovered in the latter part of 2010, and are helping to absorb the inventory, including many distressed properties," said Lawrence Yun, chief economist of the Realtors' group.
Many housing market factors were favorable through the end of the year. Prices are very affordable for working families in most markets, interest rates are extremely low and bloated inventories offer a wide choice of properties.
- HOUSING AFFORDABILITY BEST IN YEARS
- February 10, 2011
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RealEstate.com
"Based on incomes, this is as affordable as it gets," Mark Zandi, chief economist at Moody's Analytics, told the WSJ. "If you can get a loan, these are pretty good times to buy."
- REPORT SHOWS SEATTLE-AREA HOUSING MARKET BOUNCING BACK
- February 9, 2011
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KOMO.com
By Connie Thompson"Charts based on data from the Northwest Multiple Listing Service show a sharp spike in new listings in January, pending sales jumped considerably from December, and inventory is down. It's still a buyer's market, but the changing conditions signal a better climate for sellers as long as the price is right.
- HOUSING MARKETS: BEST RECOVERY BETS
- February 7, 2011
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CNNmoney.com
By Les Christie"Seattle is a good mix of new and old economies, with Microsoft, Amazon and Boeing offering good, well-paying jobs. And that has been key to getting the city's economy off life support, with the unemployment rate dropping below 9% in December.
But home prices will be rebounding, thanks, in part, to Seattle's position between mountain and sea. Because the area lacks land to build on, supply can be limited once the foreclosure market dries up.
- REPORT: HOME PRICES RISING IN JANUARY
- February 7, 2011
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RealEstate.com
"According to Clear Capital, while national home prices slid 1.6 percent from November through January, prices during the first few weeks of 2011 alone indicated an increase - the first since mid-August. An improving market this early in the year would also allow buyers to take advantage of low mortgage rates before they rise again. The Mortgage Bankers Association predicted that rates will rise from their current levels of 4.8 percent to 5.3 percent by the end of the year."
- NEW HOME SALES JUMP TO 8-MONTH HIGH
- January 26, 2011
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CNNmoney.com
By Blake Ellis"New home sales climbed 17.5% in December to the highest level in eight months, the government reported Wednesday.
Sales of newly built single-family homes rose to an annual rate of 329,000 units last month, from a revised 280,000 units the month before, the Commerce Department said. That was the highest level since April.
- PENDING HOME SALES RISE 5.3 PERCENT IN MARCH
- May 4, 2010
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THE SEATTLE TIMES
By Alan Zibel"The National Association of Realtors said Tuesday its seasonally adjusted index of sales agreements for previously occupied homes rose 5.3 percent from a month earlier to a reading of 102.9.
March's reading for pending home sales was the highest level since October and a 21 percent increase from the same month a year earlier. February's reading was revised upward slightly to 97.7"
- SEATTLE CONDO RECOVERY CONTINUES
- April 9, 2010
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THE SEATTLE CONDO REVIEW
By Wendy Leung"No two ways about it, a very solid March for Seattle condo sales. One neighborhood standout was the Belltown/Downtown area. Belltown/downtown seattle condos saw triple the pending sales and double the closed sales versus 2009."
- CHECK THE REAL ESTATE: IT'S TIME TO DELVE IN
- April 7, 2010
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WALL STREET JOURNAL ONLINE
By James B. Stewart"It's springtime for real estate.
Last summer I wrote that it was time to buy residential real estate if you were in the market and looking for a bargain. I never expect to call a market bottom, and certainly not for long-cycle assets like houses, but I seem to have come pretty close. The latest S&P/Case-Shiller survey results, released last week, suggest housing prices bottomed out around April 2009, when its 20-city composite index was down 32.6% from its peak reached in June/July 2006. Since then it has gained 3% through January 2010, with some markets much stronger, especially San Francisco and Minneapolis. (Charlotte, N.C., Las Vegas, Seattle and Tampa, Fla., continued to hit new lows, but at a much slower rate of decline.)"
- KING COUNTY HOUSE PRICES POST YEAR-OVER-YEAR RISE FOR FIRST TIME IN 2 YEARS
- April 5, 2010
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THE SEATTLE TIMES
By Eric Pryne"Area home prices have shown signs of stabilizing for several months: The median price in Seattle rose year-over-year in January, then on the Eastside in February.
Sales are up, too: Buyers closed on 1,596 houses in King County in March, 65 percent more than in the same month last year.
The March statistics are "very encouraging," said Glenn Crellin, director of the Washington Center for Real Estate Research at Washington State University."
- HOUSING: BEST RECOVERY BETS – SEATTLE
- March 1, 2010
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CNNMONEY.COM
By Les Christie"Seattle has become a world-class city with a diverse, vibrant economy. As a home to manufacturers, such as Boeing, and software providers, such as Microsoft, the job market has held up better than average, with December's unemployment rate sitting at 9.1%.
Home prices had a softer landing as well, dropping just 18.1% over the past three years, about half the national average, according to Fiserv, a division of Moody's Economy.com.
In the next six months prices are expected to grow 1%. After that, the market should gain momentum. By September 2011, the city could see a price gain of 5.5%.
And while that may not sound all that robust for those jaded by the annual double-digit returns recorded during the boom, that performance will be one of the best of any large city during that period."
- MEDIAN PRICE OF HOMES RISES IN SEATTLE, KEEPS DROPPING IN SUBURBS
- February 4, 2010
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THE SEATTLE TIMES
By Eric Pryne"Home prices in the city of Seattle rose in January for the first time in nearly two years while they continued to fall in the rest of King County, according to one closely watched measure.
The median price of a house that sold in Seattle last month was $415,000, up from $400,000 in January 2009, the Northwest Multiple Listing Service said Thursday.
The last time Seattle — or any other area in King County — saw a year-over-year increase was in February 2008."
- SAVIORS AT THE GATE: OUT-OF-STATE BUYERS HELPING TO PROP UP THE DOWNTOWN CONDO MARKET
- February 1, 2010
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SEATTLE METROPOLITAN MAGAZINE
By Matthew Halverson"Why they’re flocking downtown now is up for debate. Dean Jones, the president of local real estate marketing firm Realogics, credits the cruise lines for introducing domestic domicile hunters to the area and quality condo design for convincing them to buy. Stroupe can name a handful of Taiwanese and Korean clients who snatched up units for their children who are attending UW. And Mac McQuade, a representative for Olive 8, says he’s been specifically targeting out-of-state buyers with recent marketing campaigns. "We actively seek an audience of relocation agents, so people from California or the East Coast or even abroad are aware of us."
- TAX CREDIT BRINGS HOUSE BUYERS OUT IN OCTOBER IN KING, SNOHOMISH COUNTIES
- November 6, 2009
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THE SEATTLE TIMES
By Eric Pryne"Give credit to the credit.
Home sales in the Seattle area reached new highs for the year in October, a burst real-estate professionals attributed in large part to the $8,000 federal tax credit for first-time buyers.
In King County, closed sales of single-family homes were up 33 percent from last October, the Northwest Multiple Listing Service said in a report released Thursday."
- OCTOBER 2009 SEATTLE CONDO MARKET UPDATE
- November 6, 2009
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THE SEATTLE CONDO BLOG
By Ben Kakimoto"The Seattle condo market rebounded in October with increases in sales, number of closings and median price, likely fueled by the rush to qualify for the first time home buyers tax credit that was set to expire at the end of this month.
The median condo price rose to $300,000 last month, reflecting a 4.37% increase over last October and a one-month rise of 15.7% from September. That also reversed an 8-month slide in the year-over-year median price figures."
- TAX CREDIT SPURS BIG SURGE IN WESTERN WASHINGTON HOME SALES
- November 4, 2009
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NWMLS PRESS RELEASE
"I believe the $8,000 homebuyer credit set off a great chain reaction. The first-time homebuyer creates a move-up buyer," explained MLS director Meribeth Hutchings, the broker/owner of Windermere Real Estate/Lake Stevens. "The tax credit was the engine that started driving the market again," she remarked, adding, "It was a great October; hopefully the tax credit extension will be approved and the market will stay strong through the winter."
- 3 STRONG ECONOMIC REPORTS LIFT RECOVERY HOPES
- November 3, 2009
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BUILDER.com
By Martin Crutsinger"In a third report, the National Association of Realtors said the volume of signed contracts to buy previously occupied homes rose 6.1 percent in September to a reading of 110.1. That's the highest level since December 2006. And it's more than 21 percent above a year ago."
- SEPTEMBER PENDING HOME SALES RISE 6.1 PERCENT
- November 3, 2009
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BUILDER.com
By Alan Zibel"The volume of signed contracts to buy previously occupied homes rose for the eighth straight month in September as buyers scrambled to take advantage of a tax credit for first-time owners that expires at the end of this month."
- CASE-SHILLER HOME PRICE INDEX RISES AGAIN IN AUGUST
- October 27, 2009
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BUILDER.com
By Alison Rice"According to Case-Shiller data, 17 of 20 major metro housing markets tracked by the index posted monthly gains at summer’s end. Just Charlotte (down 0.4%), Cleveland (off 0.5%), and Las Vegas (down 0.3%) reported month-over-month declines, all of which were relatively small falls in value...
...The 20-city composite, which covers those same 10 cities plus Atlanta, Charlotte, Cleveland, Dallas, Detroit, Minneapolis, Phoenix; Portland, Ore.; Seattle, and Tampa, increased 1.2%."
- EXISTING HOME SALES SURGE IN SEPTEMBER, REPORT SAYS
- October 23, 2009
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SEATTLE PI BLOG
Gerry Sprat"Existing home sales surged more than 9.4 percent nationally from August to September and were up 9.2 percent over the same period in 2008, according to a report from the National Association of Realtors."
- SEPTEMBER 2009 SEATTLE CONDO MARKET UPDATE
- October 12, 2009
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THE SEATTLE CONDO BLOG
By Ben Kakimoto"The condo inventory supply rate decreased to 5.4 months in September due to a drop in active listings and a rise in the number of properties going under contract (Pendings), which would move Seattle back towards normal market conditions."
- KING COUNTY HOME SALES SURGE IN SEPTEMBER, BUT PRICES CONTINUE TO FALL YEAR-OVER-YEAR
- October 6, 2009
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THE SEATTLE TIMES
By Eric Pryne"The $8,000 tax credit for first-time buyers has helped fuel a surge in home sales, nationally and locally. Closed sales of single-family homes in King County were up more than 14 percent in September from the same month last year, the Northwest Multiple Listing Service reported Monday."
- REPORT: PENDING HOME SALES ARE UP AGAIN
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- October 1, 2009
SEATTLE POST INTELLIGENCER BLOG
By Gerry Sprat""(The tax credit) definitely is encouraging people to get into the market, but I think that those people will stay in the market if it goes away," Wood said."
- SEVEN LOCAL EXPERTS LIFT THE ROOF OFF HOUSING MARKET'S MYSTERIES
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- September 11, 2009
PUGET SOUND BUSINESS JOURNAL
By Steven Goldsmith"Since none of us are futurists, I would say that right now is a known quantity. And I would say that right now is a fabulous time to buy."
- RECOVERY SIGNS IN HOUSING MARKET STIR SOME HOPE
- July 28, 2009
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THE NEW YORK TIMES
By David Streitfeld"Recession is over, economy is recovering – let’s look forward and stop the backward-looking focus," John E. Silvia, the Wells Fargo chief economist, wrote Tuesday in a research note."
- SEATTLE SNAPS RUN OF RECORD HOME-PRICE DECLINES
- July 28, 2009
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen"The Seattle area's run of record year-to-year home price declines has ended at 15 months, according to a prominent index."
- INDEX ADDS TO SPATE OF UPBEAT HOUSING NEWS
- July 28, 2009
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THE SEATTLE TIMES
By J.W. ElphinstoneThere were fresh signs Tuesday that home prices in much of the country are stabilizing and the housing market is on the mend.
"Home prices in May posted their first monthly increase since the summer of 2006, according to the Standard & Poor's/Case-Shiller 20-city index. Prices rose from April in 13 of the cities tracked, notably Cleveland, Dallas and Boston."
- JUNE NEW HOME SALES RISE 11 PERCENT
- July 28, 2009
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THE DAILY JOURNAL OF COMMERCE
"New U.S. home sales rose by the largest amount in more than eight years last month, in another sign the housing market is finally bouncing back from the worst downturn in decades."
- NEW-HOME SALES UP 11% IN JUNE
- July 27, 2009
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PUGET SOUND BUSINESS JOURNAL
"New-home sales in the United States increased dramatically in June from May, offering some evidence that the housing market is recovering."
- HOMES SALES RISE AS HOUSING MARKET TRIES A COMEBACK
- July 27, 2009
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THE SEATTLE POST-INTELLIGENCER
By Alan Zibel and Alex Veiga"New home sales rose last month at the fastest clip in more than eight years as buyers eagerly took advantage of bargain prices - a clear sign, economists said, that the real estate market may finally be bouncing back."
- HOUSING NEWS RAISES HOPE FOR ECONOMY
- July 24, 2009
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THE DAILY JOURNAL OF COMMERCE
By Alan Zibel"The U.S. housing market is finally on the mend after its most far-reaching collapse in 70 years. That could help rebuild consumer confidence and revive the economy.
- DOES A RISE IN HOME SALES SIGNAL RECOVERY?
- July 23, 2009
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen"Despite some of the challenges, the housing market continues to demonstrate signs of recovery," association President Charles McMillan said in a news release."
- DATA SHOW HOUSING MARKET STARTING TO RECOVER
- July 23, 2009
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THE SEATTLE POST-INTELLIGENCER
By Alan Zibel"The U.S. housing market has started to recover from the most far-reaching crisis since the Great Depression, data released Thursday show.
- HOUSING PRICES RISE IN MAY
- July 22, 2009
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PUGET SOUND BUSINESS JOURNAL
By Jeff Clabaugh"Average U.S. home prices have started to rise, according to a monthly report from the Federal Housing Finance Agency.
FHFA says U.S. home prices rose 0.9 percent from April to May. The biggest gains were in the battered Pacific region, where average prices were up 2.7 percent from the previous month."
- SEATTLE EIGHTH-HAPPIEST CITY FOR FAMILIES, SAYS MCDONALD'S
- July 17, 2009
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PUGET SOUND BUSINESS JOURNAL
"Seattle is No. 8 on the country’s "Happiest City for Families" list released by McDonald’s Corp.
The Chicago restaurant chain (NYSE: MCD) said it commissioned the list by Sperling’s BestPlaces to coincide with the 30th anniversary of the restaurant chain’s "happy meal." Cities were ranked on criteria such as the number of social activities, recreational resources, and household expenditures on "fun activities."
- HOME PRICES HERE UP 5.3% FROM MAY
- July 7, 2009
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THE DAILY JOURNAL OF COMMERCE
"The median selling price of a King County single-family home was $395,000 in June, down nearly 12.2 percent from a year earlier, but up 5.3 percent from May, according to the Northwest Multiple Listing Service."
- KING COUNTY AVERAGE, MEDIAN HOME SALE PRICES RISE IN JUNE
- July 6, 2009
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PUGET SOUND BUSINESS JOURNAL
"The average home sale price in King County rose to $446,044 last month from $423,875 in May and the median sale price rose to $363,116 from $351,500 a month earlier.
The number of pending sales in King County rose to 3,042 in June from 2,801 in May, according to data collected by the Northwest Multiple Listing Service (NWMLS), which tracks home sales in 19 Western Washington counties."
- HOME SALES CLIMB IN JUNE IN KING COUNTY; MEDIAN PRICE DROPS FROM YEAR AGO TO $395,000
- July 6, 2009
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THE SEATTLE TIMES
By Eric Pryne"Single-family home sales in King County in June surged to their highest level in nearly two years, according to statistics released today by the Northwest Multiple Listing Service.
A total of 1,655 houses closed last month, up 4 percent from the same month in 2008. It was the first year-over-year increase in closed sales since the local housing market peaked in July 2007, and the largest number of closings in the county since October 2007."
- HOUSE SALES UP IN KING COUNTY
- July 6, 2009
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen"More King County houses sold this June than in June 2008 – the first year-to-year increase in completed sales since October 2005, according to a new report.
- PENDING HOME SALES UP FOR 4TH STRAIGHT MONTH
- July 2, 2009
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THE DAILY JOURNAL OF COMMERCE
"Pending home sales rose in May for the fourth straight month, spurred by low prices and a first-time homebuyers tax credit, fresh evidence that the housing sector may be recovering.
The National Association of Realtors said Wednesday that its seasonally adjusted index of pending sales increased by 0.1 percent in May to 90.7. Analysts expected no change, according to Thomson Reuters.
While the increase was small, it followed a 7.1 percent jump in the index in April."
- CENSUS: BIG CITIES NOW GROWING QUICKER
- July 1, 2009
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MSNBC.com
Housing crunch, recession and gas prices have slowed migration to suburbs
"Los Angeles, San Francisco, Seattle and Portland, Ore., all on the West Coast, registered growth, boosted partly by foreign-born immigrants who moved into and stayed in gateway cities. In contrast, former hotspot areas in Nevada and Arizona had significant slowdowns, as well as inland regions in California."
"Cities are showing a continued vitality as hubs of activity even as some suburban and exurban areas go through tough times," said William H. Frey, a demographer at the Brookings Institution. "It emphasizes the buoyancy of large established cities with diverse economies and populations."
- SOME GOOD NEWS ON SEATTLE HOUSING FRONT
- June 30, 2009
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PUGET SOUND BUSINESS JOURNAL
"The good news is that between March and April, home prices in Seattle rose 0.2 percent."
- SEATTLE'S POPULATION GROWS FASTER; STATE'S SLOWS
- June 29, 2009
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THE SEATTLE POST INTELLIGENCER
By Aubrey CohenCity tops 600,000 residents
"While the tough economy has slowed the influx of new residents into Washington, Seattle's growth has sped up, according to new population estimates.
- KING COUNTY HOMES SALES ROSE FASTER THAN THE NATION'S IN MAY
- June 24, 2009
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen"Sales of existing houses and condos in May were up just over 30 percent from April in King County, compared with increases of 6.6 percent in the West and 9.2 percent nationwide, according to data from the Northwest Multiple Listing Service and the National Association of Realtors."
- HOMES SALES STABILIZING; WEAK RECOVERY SEEN
- June 24, 2009
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THE SEATTLE POST-INTELLIGENCER
By Alan Zibel"Home sales in the Western region of the country posted a 9 percent annual increase in May as homebuyers jumped on low interest rates and falling prices, according to two reports released Tuesday."
- HOMES SALES IN WEST JUMPED 9% IN MAY
- June 24, 2009
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DAILY JOURNAL OF COMMERCE
By Alex Veiga"Nationwide home sales may have finally hit bottom, new data shows, but a host of thorny problems are hindering any recovery.
Sales of previously occupied homes rose by 2.4 percent from April to May – the third monthly increase this year – but the results missed analysts' expectations."
- EXISTING HOMES SALES ROSE BY 2.4%
- June 24, 2009
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DAILY JOURNAL OF COMMERCE
"Sales of previously occupied homes rose modestly from April to May, the third monthly increase this year, but signs of a housing recovery are fragile at best.
The National Association of Realtors said Tuesday that home sales rose 2.4 percent last month to a seasonally adjusted annual rate of 4.77 million, from a downwardly revised pace of 4.66 million in April."
- US HOMES SALES RISE SECOND STRAIGHT MONTH IN MAY
- June 23, 2009
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THE WALL STREET JOURNAL
By Jeff Bater"WASHINGTON (Dow Jones)--Existing-home sales improved again in May, but falling prices and bloated supply promise to make a housing sector recovery slow.
Home resales rose by 2.4% to a 4.77 million annual rate from 4.66 million in April, the National Association of Realtors said Tuesday.
It was the second straight increase and the fourth in six months. The increase would have been bigger if not for poor appraisals, the realtors indicated."
- US HOMES SALES RISE AGAIN
- June 23, 2009
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PUGET SOUND BUSINESS JOURNAL
"Nationally, sales of existing homes rose for the second straight month in May, signaling low prices and incentives are attracting buyers.
The National Association of Realtors says existing home sales, including single-family homes, condos and co-ops, rose 2.4 percent in May. It was the first back-to-back monthly gain in existing home sales since September 2005."
- LUXURY CONDOS FARE BETTER THAN LUXURY HOMES
- June 22, 2009
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PUGET SOUND BUSINESS JOURNAL
By Steven Goldsmith"Here's what local condo guru Dean Jones of marketing firm Realogics has to say about what's going on.
"It's interesting to see the transfer of wealth to the city in this tight radius neighborhood," he wrote in an email. "Like the proverbial string of pearls, these projects are creating a condominium gold coast in downtown Seattle that really didn't exist before. And in this case, it seems to be the 'build it and they will come' scenario."
- IN SEATTLE, A TIGHT HOUSING MARKET
- June 18, 2009
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BUSINESS WEEK
By Steven GoldsmithStringent building restrictions, and the city's unique geography, prevented overbuilding during the boom
"With such constraints, Seattle doesn't have a significant supply of homes on the market. It would take just five months to work through the excess inventory, compared with roughly nine months for the U.S. as a whole, according to the National Association of Realtors. "Given sales, demographics, and job growth, we expect the inventory in Seattle to burn off faster than in other markets," says Richard M. Gollis, founder of The Concord Group, a consulting firm in Newport, Calif. Generally, cities with low inventory will bounce back sooner than the rest of the U.S. Tight supply in Seattle—much like in Dallas, Denver, and Portland—should set the stage for recovery in the next year or so."
- NEW HOME CONSTRUCTION JUMPS BY 17.2 PERCENT
- June 18, 2009
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DAILY JOURNAL OF COMMERCE
By Martin Crutsinger"Construction of new homes jumped in May by the largest amount in three months, an encouraging sign that the nation's deep housing recession was beginning to bottom out.
The Commerce Department said Tuesday that construction of new homes and apartments jumped 17.2 percent last month to a seasonally adjusted annual rate of 532,000 units. That was better than the 500,000-unit pace that economists had expected and came after construction fell in April to a record low of 454,000 units.
In another encouraging sign, applications for building permits, seen as a good indicator of future activity, rose 4 percent in May to an annual rate of 518,000 units.
The better-than-expected rebound in construction was the latest sign that the prolonged slump in housing is coming to an end, which would be good news for the broader economy."
- MAY HOUSING STARTS EXCEED PREDICTIONS
- June 16, 2009
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PUGET SOUND BUSINESS JOURNAL
"Housing starts across the country rose in May more sharply than expected, according to data released Tuesday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Housing starts jumped 17.2 percent in May compared with April's adjusted figures, topping the expectations of economists surveyed by Dow Jones Newswires, who expected housing starts to rise by 7 percent, according to the Wall Street Journal."
- HOME SALES SHOW SIGNS OF LIFE IN PARTS OF SEATTLE
- June 12, 2009
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PUGET SOUND BUSINESS JOURNAL
By Kirsten Grind"To be sure, the changing tide in these neighborhoods could be attributed to the typical summer uptick in sales.
But real estate agents say it’s more than likely an indication of a larger, regional recovery. Real estate sales are closely watched as a measure of the region’s overall economic health, and could signal the start of a broader recovery across all business sectors."
- KING COUNTY HOME SALES PRICES INCH UPWARD IN MAY
- June 4, 2009
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PUGET SOUND BUSINESS JOURNAL
"The median sale price of a home in King County inched upward to $351,500 in May from $350,000 in April and the average home sale price rose to $423,875 from $417,500 a month earlier.
The number of real estate closings in King County rose to 1,618 from 1,242 in April, according to data collected by the Northwest Multiple Listing Service (NWMLS), which collects real estate data from 19 Western Washington counties.
The number of pending home sales in King County also rose to 2,801 from 2,646 a month earlier."
- PENDING HOMES SALES JUMP 6.7 PERCENT
- June 2, 2009
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PUGET SOUND BUSINESS JOURNAL
By Jeff Clabaugh"Lower prices and attractive mortgage rates are breathing new life into housing, with one measure of sales posting its fourth increase in the last five months.
Pending sales of existing homes, or contracts signed but not closed, rose 6.7 percent in April from March, according to the National Association of Realtors. April's pending sales were up 3.2 percent from a year ago, the NAR says."
- APRIL NEW HOME SALES RISE 0.3%
- May 29, 2009
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DAILY JOURNAL OF COMMERCE
"The Commerce Department said Thursday that sales rose 0.3 percent in April to a seasonally adjusted annual rate of 352,000. But the increase came from a downwardly revised rate of 351,000 in March."
- HOME SALES ARE UP 16% IN THE WEST
- May 28, 2009
By Alex Veiga -
DAILY JOURNAL OF COMMERCE
"In Seattle, the market is hot for homes priced below $400,000, and more buyers are taking advantage of the Federal Housing Administration's rehab loans, which includes funds for home repairs, provided the improvements will justify a higher appraisal that meets the loan amount, says local real estate broker Duane Hopper.
Sales in Seattle were down about 33 percent from April last year, but up slightly from March. The median was $299,925, off 14 percent from year-ago levels. Still, with activity increasing, Hopper says that April “felt a bit like there's a light at the end of the tunnel.”"
- EXISTING HOME SALES RISE
- May 27, 2009
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PUGET SOUND BUSINESS JOURNAL
By Jeff Clabaugh"The National Association of Realtors says existing home sales rose 2.9 percent from March to an annual pace of 4.68 million units. The biggest jump in sales last month was the market for condos and coops, up 6.4 "
- CONSUMER CONFIDENCE UP DRAMATICALLY
- May 26, 2009
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PUGET SOUND BUSINESS JOURNAL
"Looking ahead, consumers are considerably less pessimistic than they were earlier this year, and expectations are that business conditions, the labor market and incomes will improve in the coming months,” said Lynn Franco, director of the Conference Board Consumer Research Center. “While confidence is still weak by historical standards, as far as consumers are concerned, the worst is now behind us."
- KING COUNTY HOME SALE PRICES REBOUND IN APRIL
- May 5, 2009
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PUGET SOUND BUSINESS JOURNAL
"The average and median home sale price in King County rose in April from March; a price increase that hasn’t happened for several months."
- STATE OF THE INVENTORY
- May 1, 2009
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SEATTLE HOMES & LIFESTYLES MAGAZINE
By Lindsey RoweLocal real estate experts explain how the economic climate will make available homes and condos scarce in the next few years and why now is the time to buy
"What you see is what you’ll get for a while.”
—Dean Jones, real estate marketing strategist & president of Realogics, Inc." - GOLDEN OPPORTUNITY
- April 1, 2009
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SEATTLE HOMES & LIFESTYLES MAGAZINE
By Lindsey RoweWhat’s the best way to treat a home as an investment? Real estate insiders advise us to buy now while the market is down and sell much later
"The total new listings each month appear to be in decline from the prior year and there’s no new [condominium] projects breaking ground,” says Dean Jones, president and CEO of Realogics. “Thus if you want to be living in a new building in the next several years you’ll need to choose from one of those under construction today."
- BUY? SELL? OR HOLD ON FOR DEAR LIFE?
- April 1, 2009
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SEATTLE METROPOLITAN MAGAZINE
By Matthew HalversonTrue tales of Seattle real estate and expert advice to help you navigate the new rules of homeownership.
“Buying a Condo: With so many unsold, many wonder if it’s a risk purchasing a condo now. Read this and see for yourself.”
- DEMAND REMAINS STRONG FOR SKY-HIGH RESIDENCES ABOVE PIKE PLACE MARKET
- March 26, 2009
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NYHUS PRESS RELEASE
"The valuations have not surprised market advisors at Seattle-based Realogics, Inc., as comparable sales at nearby towers are fetching more than $2,000 per square foot. Dean Jones, president and CEO of Realogics, believes distinctive properties in downtown Seattle have been resistant to downward pressure on pricing because the new inventory is highly differentiated by design and in relatively low supply, versus more typical condominiums.
“Fifteen Twenty-One Second Avenue is unique and continues to demonstrate impressive demand today – just like it did during presales,” said Jones, who is representing the project. “Buyers can separate individual developments from generalizations about the broader Seattle marketplace. Success stories such as this demonstrate that real estate is, and always will be, intensely local.”
- EXPERT: NO BIG CRASH EXPECTED FOR SEATTLE HOUSING MARKET
- February 27, 2009
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PUGET SOUND BUSINESS JOURNAL
By Kirsten Grind"He also had this to say about the Seattle area: “Ten years from now, it will be one of the best performing areas nationally because there are so many smart people in the area."
- BELLEVUE CONDOS STILL SELLING WELL
- February 19, 2009
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THE SEATTLE POST-INTELLIGENCER
By Dan RichmanSales flourish despite economy as downtown suburb continues to grow.
“Even in a tough market, the condos at Bellevue Towers are selling well, its developer says.”
- ULTRA-LUX CONDO PROJECT'S BUYERS EMERGE IN PUBLIC RECORDS
- February 15, 2009
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THE SEATTLE TIMES
By Rami GrunbaumThe just-finished Four Seasons project in downtown Seattle won't identify most of its wealthy condo residents, but property records show they range from a Las Vegas animal-rights activist to retired Nordstrom co-chairman John McMillan.
Public sales records identify, or hint at, buyers of condos in the Four Seasons project, including Bruce McCaw.
The ultra-luxury, just-finished Four Seasons hotel/condo project in downtown Seattle put out a news release a few days ago announcing that 25 of its 36 “private residences” had sold, and 22 of the sales had closed.
- DOWNTOWN CONDO MARKET PRETTY RESILIENT IN '08
- February 5, 2009
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THE DAILY JOURNAL OF COMMERCE
By Dean Jones, Realogics
“The chart illustrates the likely unit deliveries for new condominiums in the center city (high-rise zoned) area of downtown Seattle (MLS Area #701). It also indicates the currently known status of sales (both closed and pending presales) for those buildings. As no new condo projects are planned to break ground anytime soon, it's unlikely that new supply will be added until 2012.”
- THE REAL ESTATE ADVISOR: WHERE ARE THE COUNTRY'S LOW RISK HOME MARKETS?
- February 5, 2009
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THE DAILY JOURNAL OF COMMERCE
By Tom Kelley“Two Washington MSAs were on the list of the 100 least risky markets: Wenatchee and Seattle-Bellevue-Everett. So, those two areas have shown to be lower risk areas and fairly stable.”
- HOME PRICES DECLINE FOR 12TH STRAIGHT MONTH
- February 4, 2009
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THE SEATTLE TIMES
By Karen GaudetteMedian single-family home prices continued to decline in January throughout the Puget Sound region compared to the previous year, according to figures released from the Northwest Multiple Listing Service.
“The median condominium price, however, rose in every county but Kitsap, where it fell 40.66 percent from $299,900 to $177,975 compared to last January.
The median condo price rose 3.42 percent in King County, from $270,500 to $279,750. In Snohomish County they climbed 8.10 percent, from $224,999 to $243,225. And in Pierce they rose 3.41 percent from $205,000 to $212,000.”
- KING COUNTY'S HOUSE PRICES, INVENTORY DROP
- February 4, 2009
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“January's median condo price was $279,750 in King County and $335,000 in Seattle. That's up 3.4 percent in the county and 9.8 percent in the city from a year earlier and down 3.2 percent and up 4.2 percent, respectively, from December.
The listing service news release highlighted the increases in pending sales from a snowy December, the year-to-year pending sales jumps in eight counties and shrinking inventories.
“The market seems to be gaining momentum, and buyers seem to be feeling more confident,” said Meribeth Hutchings, broker/owner of Windermere Real Estate/Lake Stevens Inc.”
- A 2ND HOUSING INDEX SHOWS SLIGHT UPTICK NATIONALLY
- February 3, 2009
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THE SEATTLE POST-INTELLIGENCER
By P-I Staff and New Services“It was the second positive sign in the past two weeks for the troubled U.S. housing market, and it may indicate that a bottom is forming – at least for home sales. Analysts, however, caution that prices are likely to keep falling through 2009, and say the outlook for home sales is uncertain, especially as layoffs mount and banks ’ lending standards remain tight
“Buyers are dipping their toes back into the housing market, but they have yet to really take the plunge,” wrote Joel Naroff, chief economist with Naroff Economic Advisors.”
- AMERICA'S MOST AND LEAST POPULAR CITIES
- January 29, 2009
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FORBES.COM
By Lauren ShermanMost Popular – No. 3: Seattle, Wash.
“It may be cloudy over 200 days per year in Seattle, but the city's modernist attitude explains why 38% of Americans would like to live there. Not only is it the most tech savvy, it's also one of the best cities for the outdoors.”
- SEATTLE IS ONLY NO. 3 ON FAVORITE-CITY LIST?!!!
- January 29, 2009
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THE SEATTLE TIMES
By Jack BroomSeattle is third on a list of major U.S. cities in which Americans would like to live, topped only by Denver and San Diego, according to a study by the Pew Research Center.
“If we only had a little more sunshine...
In a national study released today, Seattle placed third on a list of major U.S. cities in which Americans would like to live, topped only by Denver and San Diego.”
- FALLING PRICES PUSH EXISTING-HOME SALES UP 6.5%
- January 26, 2009
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MARKETWATCH.com
By Rex Nutting“While supply and demand remain unbalanced, the increase in sales and the reduction in inventories observed in December are important steps in the right direction,” Piretti said.
Sales in December were stronger than the 4.36 million expected by economists surveyed by MarketWatch. The pending home sales index had fallen 4% in the month, signaling fewer contracts signed. November's sales pace was revised lower to 4.45 million from 4.49 million initially reported.”
“Sales of single family homes rose 7% to 4.26 million, while condo sales rose 2.1% to 480,000. For all of 2008, single-family sales fell 12% to 4.35 million, while condo sales fell 21% to 563,000.”
- US LEADING ECONOMIC INDICATORS, HOME SALES RISE
- January 26, 2009
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FORBES
By ELLEN SIMON“A flood of federal bailout money pushed a private research group's monthly forecast of economic activity unexpectedly higher in December, while a decline in home prices boosted housing sales.
Existing home sales rose 6.5 percent in December to an annual rate of 4.74 million units, as the median home sales price plunged 15.3 percent to $175,400 from $207,000 a year ago. The decline is the largest year-over-year drop in records going back to 1968.”
- U.S. EXISTING HOME SALES RISE BY 6.5% IN DECEMBER
- January 26, 2009
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THE SEATTLE TIMES
By Alan ZibelSales of existing homes posted an unexpected increase last month, closing ut the worst year for the U.S. real estate market in more than a decade.
“Sales of existing homes posted an unexpected increase last month, closing out the worst year for the U.S. real estate market in more than a decade.
The National Association of Realtors said Monday that sales of existing homes rose 6.5 percent to an annual rate of 4.74 million in December, from a downwardly revised pace of 4.45 million in November.”
- STUDY: SEATTLE AMONG LEAST RISKY CITIES FOR HOME BUYERS
- January 24, 2009
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THE SEATTLE POST-INTELLIGENCER
By John F. Wasik, Bloomberg NewsBecause of their durable real-estate markets, places like San Antonio, Pittsburgh, Boston and even Seattle are considered least risky for losing money on a home purchase, says HomeSmartreports.com, a California company that measures the chance a buyer will lose money on a property purchase.
“Some of the most durable areas have shown lower volatility because they experienced less bubble appreciation, show fewer foreclosures and have residents with higher average-income levels. A few of these havens might surprise you.
The Connecticut areas of Bridgeport-Stamford, Hartford and New Haven are most resilient, according to HomeSmartreports.com, a San Capistrano, Calif.-based online service that measures “collateral risk,” or the chance you will lose money on a property purchase.
Also on the “least-risky” list are Seattle; Boston, Essex County and Worcester, Mass.; Honolulu; Bethesda-Gaithersburg, Md.; Edison, N.J.; New York and Nassau-Suffolk County (Long Island); Albuquerque, N.M.; and El Paso, Texas.”
- LOWEST HOME SALES OF DECADE
- January 22, 2009
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“The median Seattle condo price was $311,250 in 2008, down 1.2 percent from 2007.”
- THE END IS NEAR
- January 22, 2009
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MARKETWATCH.COM
By Irwin KellnerCOMMENTARY: COULD THE ECONOMY BE FIXING ITSELF?
And now for some good news: The mother of all housing corrections appears to be nearing an end.
“All that is needed now is a good dose of buyer confidence – and a willingness on the part of the banks to resume lending to those who qualify for a mortgage.”
- LOOK FOR PLODDING PACE ON DOWNTOWN OFFICE, RESIDENTIAL PROJECTS
- January 21, 2009
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THE SEATTLE TIMES
By Eric PryneOnly a handful of big proposed office and residential projects in downtown Seattle will start construction in 2009.
Despite the lousy economy, a few developers still plan to break ground on big new office and residential projects in the downtown Seattle area in 2009.
But there won't be many. You might be able to count them on one hand.
- AREA'S RISK OF PRICE DROP RISES, BUT STILL LOW
- January 20, 2009
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THE SEATTLE POST-INTELLIGENCER
SEATTLE REAL ESTATE NEWS BLOG
By Aubrey Cohen“The possibility that Seattle-area home prices will drop over the next two years is increasing, but still not very high, according to a new report.”
“Seattle-area homes were 95.67 percent as affordable in the third quarter as they were in 1995 (the base year for PMI's affordability index). That's 2.32 percentage points more affordable than they were in the second quarter.”
- DOWNTOWN SEATTLE CONDO MARKET ESTABLISHED A REAL ESTATE MICROCLIMATE IN 2008
- January 8, 2009
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URBAN CONDOMINIUMS MEDIA RELEASE
By Marco Kronen, Sales DirectorDowntown Seattle Condo Market Established a Real Estate Microclimate in 2008
Research released today by Urban Condominiums, LLC., a Seattle-based real estate group that closely tracks the in-city condominium market, indicates that downtown Seattle is more resilient compared with the regional and national housing trends. Data compiled from the Northwest Multiple Listing Service (NWMLS) records and other independent research confirms the following findings in 2008:
- New listing activity year-over-year has steadily decreased since April 2008 (eight consecutive months)
- Fewer active listings remained on the NWMLS at year-end 2008 versus 2007 (10% less inventory active today)
- Pending sale activity slowed by 27% in 2008 with fewer presales of new construction as buyers “wait-and-see”
- Overall inventory absorption in 2008 retreated only 12% versus 2007 (partially due to presales from prior years)
- While median condo prices below $600,000 decreased by 4%, median prices above $600,000 increased by 20%
- Median prices year-end in aggregate (all price points) dropped by 2.13% – less than a quarter of regional decline
- Factoring all new construction not listed on NWMLS, median prices are actually much higher in 2008
Graphs illustrating the new construction supply and sales status of condominium projects for downtown Seattle (2007 – 2014) are now available for download. Please email info@urbancondominiums.com
- REAL ESTATE RESURRECTION BEGINS
- January 8, 2009
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FORBES.com
By Hugh Bromma“While the data on prices and sales are still awful on a nationwide basis, there are rays of hope emerging for real estate.”
- HOUSING PRICES ROSE DESPITE HOLIDAYS, SNOW: BUT DECEMBER CAN BE HARD TO JUDGE
- January 7, 2009
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“House prices showed some buoyancy in Seattle and King County last month, according to a new report.
The median price for a Seattle house that sold in December was $436,750, up just over 5 percent from November and down nearly 4 percent from December 2007, according to the Northwest Multiple Listing Service.”
- SIZING UP THE LOCAL CONDO MARKET
- January 2, 2009
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KING 5 VIDEO
By Renay San Miguel“Condo market analyst Dean Jones saw a 20 percent drop in downtown condo sales over the last year. Believe it or not, 20 percent has Jones breathing easier.”
- A BUYER'S MARKET TODAY, BUT FOR HOW LONG?
- December 17, 2008
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REALOGICS MARKET SNAPSHOT
By Dean Jones, PrincipalNew data suggests Seattle’s in-city housing market may actually favor sellers by 2010, if not sooner for preferred properties.
Given the commercial credit crunch and sky-high construction costs faced by developers today, many new condo projects in downtown Seattle have been deferred or outright cancelled. Meanwhile, demand for in-city condominiums is expected to rise in 2009 as sidelined buyers recognize that the local market fundamentals will not allow the same measure of home value declines, if any, made pervasive by a national media spectacle.
The law of supply and demand suggests that the in-city condo market will likely balance in 2009 and may actually favor sellers in 2010, (if not sooner) for preferred properties with unique features and few comparable alternatives. Not all condominiums are created equal and neither are their market values, regardless of market conditions. Notwithstanding the individual product variances, the downtown Seattle condo market is a real estate microclimate that is behaving much differently than the surrounding region.
In fact, the current inventory available today likely represents the greatest supply for the next three years or possibly longer, depending on the stabilization of the credit markets and the construction schedules of new projects in the pipeline. Unlike other cities where inventory has skyrocketed while values have dropped significantly, no glut of unexpected inventory is likely in downtown Seattle for several reasons. There are few, if any, foreclosures downtown and sellers are not competing with bank-owned liquidations (median prices have held). And only a small percentage of the estimated six hundred presold condos scheduled to close by late 2009 are likely to rescind. Most pre-sale buyers secured introductory prices and have built-in equity (not to mention exposure to non-refundable earnest money and upgrade deposits). Lastly, investors are enjoying rising rents and appear to be positioning for a more optimistic resale market to develop ahead.
Ultimately, the right time to buy is a very personal decision that has as much to do with lifestyle and preference as it does with investment and finance. If a qualified buyer identifies an attractive opportunity and can afford to purchase it today, there may not be enough reason not to.
Graphs illustrating the new construction supply and sales status of condominium projects for downtown Seattle and downtown Bellevue (2007 – 2014) are now available for download.
To request a full copy of the white paper on the state of the in-city condo market in Seattle and Bellevue, please email info@realogics.com
- AMERICA'S BEST LONG-TERM REAL ESTATE BETS
- December 16, 2008
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FORBES.com
By Matt WoolseyJob-growth projections 2008-2017: 1.5%
Seattle's peak building period in the 1980s run-up was in the second quarter of 1986. The Savings & Loan crisis didn't fully halt building activity until the fourth quarter of 1992. What lands it in the first position on this list is the combination of strong job growth with a building cycle that hasn't run in high excess of demand and, in part, its constrained geography. Especially compared to cities on the West Coast, Seattle has historically not overheated in boom times.
- SILVER LININGS SEEN AMID ECONOMIC GLOOM
- December 6, 2008
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THE SEATTLE TIMES
By Eric Pryne“The economy is in the dumps. Hard times are here. None of the speakers at the annual forecast breakfast Friday of the local chapter of the Institute for Real Estate Management attempted to deny that. But most also found some silver linings and some grounds for optimism.”
- IT MAY BE TIME TO THINK ABOUT BUYING A HOUSE
- December 5, 2008
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THE NEW YORK TIMES
By Ron Lieber“Five or 10 years from now, when the financial crisis has ended and housing prices are up smartly once more, we will look in the rearview mirror and realize that we missed a golden age for first-time home buyers.”
- FLASHY CONDO TOWERS HIT SEATTLE MARKET IN TIME OF GLOOM
- November 14, 2008
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PUGET SOUND BUSINESS JOURNAL
By Kirsten Grind and Jeanne Lang Jones“The condo developments that are faring the best in preselling units are the ones that started selling a couple of years ago, before the Puget Sound region’s housing market began to slide, said Dean Jones, principal of Seattle-based Realogics, a condo research and marketing firm.
Realogics is predicting the number of unsold new condo units in the downtown Seattle area to increase 178 percent to 451 in 2009. That’s also because the total number of units on the market is increasing about 42 percent during that time from 597 to 847 – the peak before the coming drought of available condos over the next several years.
“The days of preselling entire buildings in a weekend or a matter of months is behind us,” said Jones.”
- ULI RANKS SEATTLE TOP AMONG REAL ESTATE MARKETS
- November 3, 2008
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PUGET SOUND BUSINESS JOURNAL
By Jane McCarthy“The Urban Land Institute named Seattle its top U.S. real estate market to watch next year, in its Emerging Trends in Real Estate 2009 report released Oct. 21.”
- REAL ESTATE MARKETS MOST LIKELY TO REBOUND
- October 29, 2008
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FORBES.com
By Dorothy PomerantzIt's tough all over, but some say these 10 cities have the best-and worst-chances for speedy recoveries.
“These traits landed Seattle the No. 1 spot on the list. No city scored above a 6.15 on a scale of one to nine (one being an abysmal place to invest and nine being excellent).
Seattle is “a diversified market, has a good base of business and is becoming a 24-hour city,” says Stephen Blank, senior resident fellow, finance, of the Urban Land Institute. “It's going to be in a good position to come back.”
Although the city is suffering from the loss of Washington Mutual (nyse: WM – news – people ) and the downsizing of Starbucks (nasdaq: SBUX – news – people ), Boeing (nyse: BA – news – people ) and Microsoft (nasdaq: MSFT – news – people ) are still relatively strong. Apartment vacancies are low and there aren't too many new buildings going up, meaning the market won't be oversupplied. The same is true in the retail space.”
- IS A HOUSING REBOUND COMING IN '09? MAYBE - Experts weigh in on 2008's big story
- October 26, 2008
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“No surprise: Many Seattle-area real estate experts say the market slowdown was the biggest local real estate story of 2008. But there's a lot less agreement about what to expect from 2009.”
- HOME PRICES: NOW FOR THE GOOD NEWS
- October 17, 2008
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SMARTMONEY MAGAZINE
By Brad Reagan and Elizabeth O'Brien...The Emerald City is that rare major metro area near the coast that is not on a nausea-inducing roller-coaster ride. While home prices in Florida and Southern California are in a free fall, homeowners here are experiencing a gentler landing. Of course, that’s partly because the ride up was not as euphoric—home prices here peaked at 65 percent above January 2003 levels, compared with more than 95 percent in Los Angeles. Thanks to well-paying mega-employers like Microsoft, Amazon.com and Boeing, unemployment remains under 4 percent. That, in turn, has kept median sales prices from falling far. Just as encouraging: Only 11.5 percent of local homeowners who bought within the past five years have negative equity on their property, well below the national average of 29 percent, according to the real estate services firm Zillow. That indicates there won’t be a flood of foreclosures and short sales around the corner.
Among Seattle’s neighborhoods and suburbs, yesteryear’s star performers—affluent areas like the Victorian-studded Queen Anne district or Redmond, home of Microsoft—are beginning to slide back a bit. The most resilient part of the region lies across the Duwamish River from downtown, in West Seattle. The small community is directly accessible by only one bridge. That can lead to traffic snarls, but many residents simply bike 20 minutes to jobs downtown. On weekends the relative seclusion means the 2.5-mile Alki Beach promenade along Elliott Bay doesn’t get too crowded. As long as people like great views of water, mountains and city skylines, “those homes will always maintain their value,” says local broker Febe Cude. Dave and Alison Keith recently sold their two-bedroom townhome in West Seattle for $289,000, up more than 25 percent from their purchase price four years ago. They plowed that windfall into a home in the same neighborhood with twice the living space and a fenced-in yard, for $429,000. “You’re always nervous, but I feel like things are holding up well here,” Alison says.
- DOWNTOWN CONDO Q&A
- October 8, 2008
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THE SEATTLE TIMES
“Are condo markets in downtown Seattle and downtown Bellevue seeing corrections like other U.S. cities – Miami and San Diego, for example? At noon Wednesday, Oct. 8, Dean Jones, CEO of condo-research and -marketing firm Realogics, will answer questions about the world of in-city condominiums.”
- BEST PLACES TO LIVE – 42. Bellevue, WA
- August 1, 2008
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CNNMONEY.COM
“With a downtown skyline dotted with orange cranes (due to the development of high-rise office and residential towers), plus upscale shopping centers and its own arts scene, Bellevue is no longer just a bedroom community of Seattle.
Companies including Expedia and Symetra Financial are headquartered in this boomtown on Lake Washington.
In addition to the glass buildings and emergence of chain restaurants, residents also enjoy walking through the historic retail district and safe neighborhoods.”
- QUEEN ANNE LUXURY HOMES SALES SOARING
- July 31, 2008
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KING 5 NEW VIDEO
By Jane McCarthy“The number of homes sold above 2.5 million dollars is expected to quadruple the number sold last year...”
- 5. SEATTLE, WASH.
- July 10, 2008
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FORBES.com
“American investors have been a little ahead of the curve on the opportunities available in Seattle. While the residential real estate market has cooled, Seattle has so far bucked the unemployment trends plaguing much of the national economy. According to the Bureau of Labor Statistics, metro area unemployment has remained flat in year-over-year terms at 3.7%, something that bodes well for commercial and retail investment opportunities.”
- TOP U.S. REAL ESTATE MARKETS FOR INVESTMENT
- July 10, 2008
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FORBES.com
By Matt Woolsey“Encouraged by a weak dollar and a belief in the resiliency of the U.S. economy, individuals like Reddy, along with institutional investors such as pension funds and private equity groups, are seeking investment properties and development opportunities in the United States.
Their markets of choice include New York City, Los Angeles, Washington, D.C., Seattle and San Francisco…
…”In 2007, the European investors were looking at the U.S. and were a bit reluctant to make a move because the uncertainty was making them pause,” says Karin Shewer, principal of Real Estate Capital Partners, an investment group in New York. “And the dollar, of course, makes a difference. The general sentiment is that the dollar will become stronger in the near term, so people are starting to buy here more opportunistically.”
Shewer notes that European and Asian investors favor markets along the coasts, whether that's Boston and New York or Seattle and Los Angeles.”
- BEST CITIES FOR YOUNG PROFESSIONALS - 19. SEATTLE, WASH.
- July 9, 2008
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FORBES.com
By Matt Woolsey“Though Seattle is a growing destination for young professionals who have taken advantage of its growing economy, the number of Forbes-tracked companies there has not yet reached the level of critical mass to propel it into our top 15. By graduates alone, Seattle ranks ninth, but when you combine that with its 25th place ranking, it slips to 19.”
- SUBURBS A MILE TOO FAR FOR SOME: DEMOGRAPHIC CHANGES, HIGH GASOLINE PRICES MAY HASTEN DEMAND FOR URBAN LIVING
- June 17, 2008
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THE WALL STREET JOURNAL
By Jonathan Karp“Just as low interest rates and aggressive mortgage financing accelerated expansion of the suburban fringe to the point of oversupply, “the spike in gasoline prices, layered with demographic changes, may accelerate the trend toward closer-in living,” said Arthur C. Nelson, director of Virginia Tech's Metropolitan Institute in Alexandria, Va. “All these things are piling up, and there are fundamental changes occurring in demand for housing in most parts of the country…”
“Millennials and baby boomers are in perfect sync. They are at a stage where they both want the same thing,” said Mr. Zimmerman, a co-managing director at Zimmerman/Volk Associates Inc. in Clinton, N.J. He said the populations of Americans in their 20s and in their 50s are rising and will add eight million potential housing consumers by the time their numbers peak in 2015. “You've got a recipe for reurbanization on a dramatic scale,” he said.
- THEY'RE GETTING AWAY FROM IT ALL, TO THE U.S. - DOLLAR, REAL ESTATE SLUMP MAKE AMERICAN PROPERTY APPEALING TO FOREIGNERS
- June 2, 2008
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MSNBC.com
Jane Hodges, Contributor“Peter Oh, a Seattle real estate agent, is planning to open a showroom to market 21 condominium buildings in the Puget Sound region. But he’s not looking for a storefront location in downtown Seattle, nor is he planning to locate among the many new high-rises in nearby Bellevue across the lake.
Instead, he’s creating a marketing office 5,000 miles away – in South Korea…
… Last year one-third of American agents worked with at least one international buyer, according to the National Association of Realtors. The top five countries supplying international customers were Mexico, Britain, Canada, India and China.”
- SEATTLE-TACOMA JOB GROWTH FOURTH HIGHEST IN U.S.
- May 28, 2008
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PUGET SOUND BUSINESS JOURNAL
“The Seattle-Tacoma-Bellevue area recorded 33,800 new jobs in the past year, which was the fourth-highest amount of job growth in the U.S., according to U.S. Department of Labor April statistics released Wednesday.”
- AMAZON'S NEW MEGA CAMPUS: SECOND BIGGEST PROJECT IN THE U.S.
- May 7, 2008
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THE SEATTLE TIMES
Brier Dudley, Blogger“I guess Amazon.com still wants to get big, fast.
The company's decision to proceed on a huge new Seattle headquarters campus made the list of “Top Deals” in North America in 2007, compiled by Site Selection magazine (“the official publication of the Industrial Asset Management Council”).”
- EXPERTS EXPECT GREATER DEMAND FOR URBAN CONDOS
- May 6, 2008
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KING 5 NEWS VIDEO
Jane McCarthy, Reporter“Some real estate experts are saying the market for urban condominiums could soon turn back in favor of sellers.”
- HOME PRICES CONTINUE UPWARD TREND
- May 5, 2008
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THE SEATTLE TIMES
Elizabeth Rhodes, Reporter“With the release today of April home sales statistics, King County's single-family home prices now have climbed three months in a row – but still are significantly below a year ago.”
- AMERICA'S RECESSION-PROOF CITIES
- April 29, 2008
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FORBES.COM
By Joshua Zumbrun“Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly – or even contract in the first half of the year.
But some cities are doing just fine.
The others holding steady or improving include Austin, Texas; Houston; Charlotte, N.C.; Dallas; San Jose, Calif.; Raleigh, N.C.; Salt Lake City; and Seattle…
…The region around Puget Sound is home to Microsoft, Amazon.com, Starbucks, Costco, Nordstrom and Washington Mutual. What's more, home prices are only half that in the San Francisco Bay Area, and unemployment in the region is falling. Of the 50 largest metropolitan statistical areas in the U.S., Seattle had the strongest growth in manufacturing in the past year.”
- HARBOR CONVERTS HOSTEL TO THE MARKETSIDE FLATS
- April 25, 2008
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DAILY JOURNAL OF COMMERCE
By Lynn Porter“In another sign of an upwardly mobile market, Harbor Properties has redeveloped a building that once contained a hostel and lower-rent apartments nto housing for the more well-off.”
- >SEATTLE'S CONDO PIPELINE EXPECTED TO DRY UP
- April 25, 2008
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PUGET SOUND BUSINESS JOURNAL
By Jeanne Lang Jones & Kirsten Grind“With 40 condominium projects in the pipeline for downtown Seattle one might expect a glut of new units on the market. But tight-fisted lenders and hesitant buyers, both reacting to the nationwide credit crunch, have severely hobbled the once high-stepping market.
The pace of development has slowed so sharply that local experts predict a shortage in 2010 that could drive prices up. One consultant forecasts delivery of just 189 new units that year–down from an average of 1,100 anticipated in each of the prior three years.
Behind the prediction: No new condo project has broken ground downtown since the last two buildings–275-unit Escala and 204-unit Equinox–got under way last summer, said the consultant, Dean Jones, president of Realogics Inc., a Seattle-based condo research and marketing firm...
...Ironically, the slowing market just might protect condominium prices, by reining in supply at a time there is uncertain demand from buyers, said Jones.”
- WHY THE WORST MAY BE OVER: THE WORST OF THE CREDIT CRUNCH MAY BE BEHIND US AND EARNINGS HAVE BEEN BETTER THAN EXPECTED. THAT COULD LEAD TO HAPPIER TIMES IF THE FED
- April 25, 2008
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CNNMONEY.COM
By Paul R. La Monica“The worst of the credit crunch may finally be behind us. There have been no more major bombshells from financial institutions, a sign that the Fed's six rate cuts since last September and massive injections of liquidity into the banking system may be working.”
- IN SOME HOUSING MARKETS, HOMES AREN'T ONLY RETAINING VALUE -- THEY'RE GAINING
- April 21, 2008
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YAHOO FINANCE
By Amy Hoak“The strong employment picture in Seattle caused home prices there to rise after other major cities reached their peaks. Appreciation there in the fourth quarter was just over 1%, according to NAR, but it is believed that the city's employment landscape is keeping Seattle housing from losing value.”
- HOME PRICES REMAINED STEADY IN MARCH
- April 4, 2008
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THE SEATTLE POST-INTELLIGENCER
By Jennifer Langston“The median price for in-city condominiums was 4.9 percent higher than in February with a 4.1 percent increase from the same period in 2007, according to figures released Friday by the Northwest Multiple Listing Service…
…He also specializes in Ballard condos and wasn't surprised to see the citywide, year-over-year median price jump.
With so much new construction coming online, condos on the market now tend to be nicer, larger and more expensive than older condos offered for resale, he said.
“We just had new condominiums that are selling for a lot more,” he said. “I'm a little bit surprised ... that number's not higher.”
- THE NO. 1 CHAMPION: BELLEVUE, WASH.
- March 26, 2008
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CNNMONEY.COM
By Mina Kimes“Bellevue's strategic location helps fire growth. GMI, whose revenue rose from $6 million in 2002 to $28 million last year, is based near its suppliers – Hitachi (HIT), Symantec (SYMC), Sun Microsystems (JAVA, Fortune 500) – as well as customers such as Boeing (BA, Fortune 500) and Starbucks (SBUX, Fortune 500).
Many of our employees came from our clients,” Overstreet says.
The city is also a font of tech talent, thanks to the Microsoft (MSFT, Fortune 500) campus in nearby Redmond. Many former Microsofties have launched startups in Bellevue. Current employees pour wealth into a growing service sector.
Overstreet points out that many small businesses in Bellevue operate globally – not surprising considering that 40% of the population is nonwhite or foreign-born.”
- 100 BEST PLACES TO LIVE AND LAUNCH
- March 26, 2008
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CNNMONEY.COM
By Mina Kimes“While local businesses must pay the statewide Business and Occupations tax on their gross receipts, there's no corporate income tax. Businesses with less than $135,000 in taxable revenues (the highest threshold in the area) don't have to pay the B&O tax. Easy airport access and a highly skilled workforce make Bellevue an attractive option for startups looking to break big.”
- HOUSING MARKET PERKING UP
- March 5, 2008
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“A statement accompanying the data highlighted increases in pending sales from January to February, with jumps of nearly 30 percent in Seattle, and slightly less in King County and the 19 counties in Western Washington that the service covers.
Increased traffic at open houses and reports of homes fetching multiple offers also are “signs of an emerging spring market,” it said.
“In March, the real estate market is set to get its mojo back,” J. Lennox Scott, chairman and chief executive of John L. Scott Real Estate, said in the statement. “We're already seeing the momentum build.”
- FORCASTER CALLS FOR ECONOMY TO REMAIN RESILIENT
- February 27, 2008
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SNOHOMISH COUNTY BUSINESS JOURNAL
By John Wolcott“The Pacific Northwest economy is strong, thanks to Boeing, Microsoft, Amazon and many others that are doing well. Even on the national scene, the resilience of the
- TOP 10 GLOBAL TRENDS AFFECTING DOWNTOWNS AND HOW TO RESPOND AT HOME (FALL 2007)
- February 13, 2008
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PROGRESSIVE URBAN MANAGEMENT ASSOCIATES
By Brad Segal & Jamie Licko“While the planet is gripped in a period of profound change, it is
difficult to fully understand and respond to these changes on the
local level. To help downtowns and communities better anticipate and respond to global change, Progressive Urban Management Associates (P.U.M.A.) has developed an unprecedented body of research that analyzes the top changes, draws conclusions and recommends tangible actions. In consultation with the International Downtown Association, ten major trends affecting American downtowns were identified. These trends were organized in the categories of demographics, lifestyles and global competition. More that 120 post 9/11 sources, including the planet’s best minds, were researched to fully understand each trend and its likely impact on downtowns. To create P.U.M.A. Global Trends, research was first compiled in the summer of 2006, and then updated in the summer of 2007.” - IS SEATTLE FACING A RECESSION?
- February 11, 2008
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WASHINGTON CEO
By Brian Corliss“King County should continue to experience job growth. Boeing and Microsoft both have been expanding, and their most recent quarterly reports indicate this should continue, at least in the near term. With unemployment rates at record-low levels last year, the two companies have been forced to recruit workers from outside the state. That steady flow of new high-wage workers should drive demand for local housing, goods and services. Further, as Microsoft expands, it's snapping up office space across King County, which is helping drive a strong market for commercial real estate.”
- OPTIMISM ON THE ECONOMY , EVEN AS THE LAYOFFS TRICKLE IN
- February 8, 2008
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THE SEATTLE POST-INTELLIGENCER
By Craig Harris and Andrea James“Gov. Chris Gregoire, at a Seattle economic forum Thursday, boasted she has found that Washington is “literally the envy of other states.”
“I ask all of us to make sure that we do not buy into, or even for that matter, listen to, the dire talk internationally and nationally, because it can become a self-fulfilling prophecy for us,” Gregoire said. “We must be optimistic. We must understand our economy is strong and growth is going to continue to be the future.”
- FORCES ARE ARRAYED AGAINST OVERBUILDING IN SEATTLE
- February 8, 2008
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PUGET SOUND BUSINESS JOURNAL
By Dean Jones, President & CEO of Realogics, Inc.“Ultimately, the national housing shakeup is a good thing for Seattle. It addresses some growing pains that could have become detrimental if left unchecked. There’s now little risk that demand projections will be based on speculation, that loans will be provided to buyers who cannot afford them, or that a project will be financed if it can’t demonstrate success before it’s built.”
- SEATTLE IS ON THE GLOBAL PATH: WHAT IT TAKES TO BE A WORLD-CLASS CITY
- February 7, 2008
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THE SEATTLE POST INTELLIGENCER
By Andrea James“Seattle is a leading city for diversity and smart, young talent. The city ranks No. 1 in growth of 25- to 34-year-olds living close to the central business district. And diversity is increasing–17 percent of Seattle is foreign-born, and many residents are refugees, Segal said.”
“The health of downtown is key to the state's economy, Gov. Chris Gregoire said. “As I look at the economy here, I look at the culture and I look at the diversity of our people, it is this that makes us so strong as a city.”
- THE GEOGRAPHY OF RECESSION
- February 7, 2008
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THE ECONOMIST
“The latest national statistics are gloomy. Yet America's economic downturn will be felt unevenly”
- AMERICA'S FASTEST-GROWING METROS
- January 30, 2008
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FORBES.COM
By Brian Wingfield and William Pentland“Of course, if one looks at economic growth in the country's largest 100 metros, the usual suspects jump to the top of the list. With an estimated 32% GMP growth from 2007-2012, Austin, Texas, is the winner for big metros. Atlanta, Seattle, Orlando, Houston and San Jose, Calif., also appear high on the list. What do they all have in common? They're tech hubs with proximity to universities and a healthy increase in population. Austin's population, for example, is expected to increase by nearly 15% by 2012, according to Moody's Economy.com forecasts.
Bruce Katz, director of the Metropolitan Policy Program at the Brookings Institution, says there are several factors to take into consideration when measuring the pulse of a metro area: innovation, human capital, infrastructure and the actual quality of a place.
“These assets drive everything,” says Katz. Some ways to measure them: the number of patents a metro area produces (innovation), the number of college graduates that live there (human capital), the amount of passenger miles its residents travel (infrastructure) and the vibrancy of its downtown area (quality of place).”
- LAW OF SUPPLY AND DEMAND SAYS: BUY A HOME NOW
- January 18, 2008
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THE ATLANTA JOURNAL-CONSTITUTION
By David Ellis“On the bright side for everyone, the economy here remains robust (one of the reasons Atlanta has not seen severe fluctuations in housing prices), highlighted by projections that Atlanta will show positive job growth when final numbers for 2007 are reported in the first quarter. Despite the doom-and-gloom articles on national statistics that appear regularly in print, the Atlanta housing market has shown considerable stability, along with cities like Seattle, Dallas and Charlotte, a long-term benefit for home buyers.”
- SEATTLE ECONOMY DUE FOR 'GOOD RIDE' IN 2008
- January 17, 2008
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THE SEATTLE POST-INTELLIGENCER
By Andrea James“Bringing things home, Puget Sound-area economic forecaster Dick Conway said that this area will have a good ride in 2008 for four reasons: A national recession won't hit; the world economy is expanding and the dollar is weak, which helps Seattle; Washington's largest employers are hiring; and the area has a high rate of people moving here.”
- STATE JOBLESS RATE UP SLIGHTLY IN DECEMBER: BUT YEAR-END FIGURES SHOW THAT THE RATE IS AT A HISTORICAL LOW
- January 15, 2008
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THE SEATTLE POST-INTELLIGENCER
By Curt Woodward“The latest state figures continue a yearlong streak of low unemployment. Economists said 2007's average jobless rate of 4.7 percent was the lowest since the state started keeping records in 1976. Economists typically say anything below 5 percent is textbook full employment.
Gov. Chris Gregoire said the statistics show Washington is “making good decisions and doing right by businesses in this state.”
“It is heartening to go into a new year with such a strong economy,” Gregoire said in a statement.”
- BEST CITIES FOR JOBS IN 2008
- January 10, 2008
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FORBES
By Matthew Kirdahy“The top cities on this list also include Atlanta, plentiful in transportation, distribution and financial services careers. Indianapolis has a strong showing in agriculture, too. Omaha, Neb., Warren Buffet's hometown, offers jobs at opposite ends of the spectrum, in financial services and agriculture as well. The Emerald City, Seattle, brings aerospace and global trade professions to the table.”
- AMAZON CONSOLIDATES IN GROWING AREA OF SEATTLE
- January 9, 2008
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THE NEW YORK TIMES
By Kristina Shevory“Across the city, it is much the same story. Seattle has largely managed to avoid the economic slowdown hitting other parts of the country because the city’s corporate giants – Microsoft, Starbucks and Amazon – are still hiring. Boeing is selling a record number of commercial jets, trade with Asia remains strong and start-ups fueled by venture capital are opening.”
- STATE'S OUTLOOK BEATS THE AVERAGE
- January 9, 2008
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THE COLUMBIAN
By Julia Anderson“Washington is in for a “better-than-average year” despite turmoil in the nation's financial sector, the housing slowdown and a weak dollar, said Seattle-based economic newsletter editor Michael Parks on Tuesday.”
- DESPITE SLOWDOWN, BROKERS SEE 'PENT UP' DEMAND IN HOUSING MARKET
- January 7, 2008
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KING 5
By Liza Javier“Condominium prices, however, continued their upward trend, registering a 5.4 percent increase from a year ago. Area-wide, December 2007 condos had a median sales price of $252,900, compared to $240,000 a year ago.”
“In King County, which accounted for 65 percent of sales, the median sales price for December's closed sales of condominiums was $290,000, up more than 7.4 percent from a year ago when the median price was $269,950.”
- SEATTLE DEVELOPERS EASE RULES TO LURE LOONIES
- January 1, 2008
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WESTERN INVESTOR
“Washington State-based condominium developers are easing regulations in a bid to attract Vancouver investors more attuned to buying and flipping unbuilt property.”
- SEATTLE KEEPS HEARING THE DREADED 'R' WORD: HOUSING WEAKENS, BUT TRADE COULD HELP KEEP STATE OUT OF A RECESSION
- December 31, 2007
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THE SEATTLE POST-INTELLIGENCER
By Andrea James”The Pacific Northwest economy is increasingly tied to growth in Asia, including China, which has shown no signs of stopping, said Warjone, whose portfolio of businesses includes real estate, timber and international trade.”
- SEATTLE HOUSING MARKET SHOULD SLOW, NOT CRASH
- December 28, 2007
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PUGET SOUND BUSINESS JOURNAL
By Peter Lewis“As for new condos, development in Seattle is slowing, partly because financing is getting tighter, said Leslie Williams, president and CEO of Williams Marketing, which specializes in condos. That means that even if relatively strong demand persists, the supply will decrease by the second half of next year, she said.”
“On the resale side, competitively priced condo units are moving in about 90 days. Sellers have had to lower their expectations from a few years back, when condos generally sold in two or three weeks.”
- U.S. HOME PRICES FALL AT RECORD PACE
- December 27, 2007
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LOS ANGELES TIMES
By Andrea Chang“Only three regions showed positive growth rates. Home prices held up in the Pacific Northwest, with increases of 3.3% in Seattle and 1.9% in Portland, Ore. Charlotte, N.C., fared the best, with prices up 4.3% over the previous year.”
- SEATTLE HOUSING MARKET: NOT AS GRIM AS REST OF US
- December 26, 2007
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PUGET SOUND BUSINESS JOURNAL
“Seattle is only one of three U.S. cities where home prices continued to rise in 2007 as the rest of the country sees plummeting home values.”
“In the 20-city S&P/Case-Shiller Home Price Indices survey for October, the nation's average prices fell more than 6 percent from year-ago levels. In Seattle, though, there was a 3.3 percent gain while Portland, Ore was up 1.9 percent. Charlotte, N.C., topped the list with a gain in October of 4.3 percent.” - SOUTH LAKE UNION IS BOOMING: DEVELOPMENT SURPASSING MAYOR'S PREDICTION IN 2003
- November 27, 2007
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THE SEATTLE POST-INTELLIGENCER
By Joseph Tartakoff“And 1,850 residential units occupying nearly 2 million square feet will be built in South Lake Union by 2008, more than twice as much as the city projected four years before.”
“City Councilman Peter Steinbrueck said even that was not enough, considering the growth taking place.”
“There's still far more housing that's needed that isn't being built,” he said, adding that for every 7.5 jobs in South Lake Union, there was one household. “It's about half of what it should be.” - BEST CITIES FOR YOUNG PROFESSIONALS
- November 26, 2007
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FORBES
By Matt Woosley“San Francisco clocked in at No. 2 and Atlanta at No. 3. Los Angeles, Washington, D.C., Boston and Seattle filled spots four through seven, and Minneapolis, Philadelphia and Denver closed out the top 10.”
- BEST AND WORST U.S. HOUSING MARKETS
- November 21, 2007
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FORBES
By Matt Woosley
“Out West, it's a tale of the north versus the south. Housing markets in Northern California and the Pacific Northwest continued to rise: San Francisco prices jumped 8.6% to $825,400; in Seattle, prices rose 6% to $394,700; and in Portland, Ore. prices increased 5.2% to $299,700.” - SEATTLE'S HOUSING HOLDING UP IN MARKET: CONDO PURCHASES ON RISE AS ECONOMY SLOWS
- November 16, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“Condo sales have become a larger part of the area's market in recent months, with sales holding up better than sales of houses, Crellin noted. Condo sales in Seattle have increased from about 30 percent of total sales a year ago to 40 percent in recent months, according to data from the Northwest Multiple Listing Service.”
- REAL ESTATE BUZZ: RESEARCHER: HIGH-END CONDO PRICES FLAT
- November 15, 2007
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SEATTLE DAILY JOURNAL OF COMMERCE
By Lynn Porter, Real Estate Editor“Urban residents enjoy more time for a dynamic social lifestyle and are more healthy. The fact that urban condo deliveries are up 1,000 percent in just a year and 90 percent of that inventory is presold suggests this urban lifestyle preference isn't a trend, it's a movement.”
- CONDO SALES CLOUD THE NUMBERS: THEY TYPICALLY SELL FOR LESS THAN HOUSES
- October 5, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“Changes in the median home price in Seattle could misrepresent weakening in the city's home market, according to analysts.”
“For one thing, an increase in condominium sales drags down the median, because condos tend to sell for less then houses. Condos made up 41 percent of home sales in September, up from 33 percent in August and just under that in September 2006, according to the Northwest Multiple Listing Service.” - IN THE NORTHWEST, HARD BY CANADA, A SECRET IS OUT
- October 5, 2007
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THE NEW YORK TIMES
By Barbara E. Hernandez“For many Canadians, like Erwin Phillips, another attraction was Birch Bay’s lower prices. Canadians watched their British Columbia coastline being devoured by development, and then watched real estate prices skyrocket. Many chose to cross the border and buy American.”
- AMERICA'S MOST STABLE HOUSING MARKET
- October 1, 2007
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FORBES
By Matt Woolsey“The Emerald City has experienced strong price appreciation over the last six quarters, and that's expected to continue in the new year…thanks to a combination of factors including lower-than-average inventory levels, little price volatility and high job growth.”
- IF YOU BUY NOW, WILL YOU LOSE MONEY?
- September 29, 2007
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WASHINGTON POST
By Elizabeth Razzi“But you will have to tune out a lot of alarmist commentary if you wish to keep your composure. Just last week on the “Today” show, Jim Cramer the nuance-allergic host of CNBC’s “Mad Money” program, told viewers nationwide to pass on a purchase. “Don't you dare buy a home now. You will lose money,” he said. They might wonder about that advice in Seattle, where prices rose nearly 7 percent from July 2006 to July 2007, according to the Standard & Poor's/Case-Shiller Home Price Indices, or in Charlotte, where prices rose 6 percent.”
- SEATTLE HOME VALUES HOTTEST IN U.S. - PRICES UP 6.9% OVER LAST YEAR
- September 26, 2007
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SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“For 11 months in a row, the Seattle housing market has been the hottest in the US with median home prices up 6.9% from July 2006.”
- SURGING LOONIE DRIVES CANADIANS SOUTH TO SPEND
- September 23, 2007
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KOMO 4
“Our marketing strategy was 85 percent Seattle buyers, 15 percent Vancouver or business interests over the line. Now we're seeing dead-on 50-50,” said agent Craig Anderson.”
“Anderson said the 50-50 split has been in place since the Canadian loonie caught up to the American dollar last week for the first time in 31 years.” - BOUNTY OF LUXURY UNITS FINDING PLENTY OF BUYERS
- September 21, 2007
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PUGET SOUND BUSINESS JOURNAL
By Jeanne Lang Jones“Despite an average price of $2.5 million, the hundreds of luxury condominium units under construction in downtown Seattle seem to be finding plenty of takers.”
- NO HOUSING WOES IN BOOMING WASHINGTON STATE
- September 20, 2007
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REUTERS
By Jim Christie“While California suffers in the housing crisis, the economy of nearby Washington state is flourishing with strong job growth and some of the highest appreciation in home prices in the nation.”
- BEST AND WORST HOUSING MARKETS
- September 16, 2007
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FORBES
By Matt Woosley“Things are looking up for two-thirds of the country's big cities where m edian home sale prices rose. Leading the charge was Seattle, where prices increased 8.9%.”
- STATE AMONG LEADERS IN HOME APPRECIATION NATIONWIDE IN SECOND QUARTER
- August 30, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“Seattle-area home appreciation has been the hottest in the nation for 11 months in a row… July's price for a typical home in King, Pierce and S nohomish counties was up 6.9 percent from July 2006 and 0.2 percent from June 2007…”
- SUNNY IN SEATTLE
- August 20, 2007
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CNBC
Video - CONDOS DRIVING THE HOUSING MARKET. INCREASE IN SALES IS HOLDING BACK THE MEDIAN HOME PRICE
- August 7, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“Condominiums increasingly are driving Seattle's housing market, according to new information released Monday. The number of Seattle homes for sale in July shot up 50 percent from a year earlier, while sales increased 6 percent and the median price bumped up 1.8 percent to $427,453.”
“Most new condos aren't entered in the Northwest Multiple Listing Service database, meaning the listing-service condo data are more an indicator of resales, and there are many more condos for sale and selling than its numbers show.” - REGION'S HOUSING PRICES GO OWN WAY: UP. THREE COUNTY AREA BUCKS U.S. TREND OF DECLINING VALUE
- July 31, 2007
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THE SEATTLE POST-INTELLIGENCER
By Jennifer Langston“Seattle-area home values continued to rise in May, bucking a national trend of declining home prices. Seattle's strong economy, and the fact that home prices didn't shoot up as wildly as in other parts of the country, has insulated it from falling prices.”
- WHERE THE HOUSING BOOM GOES ON
- June 27, 2007
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CNN MONEY
By Les Christie“In Seattle, for example, the median home sale price was $380,200 during the first three months of 2007, according to the latest stats from the National Association of Realtors (NAR). That's a 12.3 percent year-over-year increase.”
- SEATTLE'S GROWTH IS AT ITS FASTEST IN DECADES
- June 27, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“The city grew by 1.3 percent between April 1, 2006, and April 1, 2007, putting the new total at 586,200, according to data the state Office of Financial Management released Wednesday. The growth rate was up from 1 percent the previous year; the rate was the highest of any year in state records since 1968. The closest year was 1992, when the rate was 1.26 percent.”
- SEATTLE-AREA HOUSING PRICES STILL RISING, BUT NOT AS QUICKLY: INCREASES LARGEST AMONG 20 MAJOR LOCATIONS IN U.S.
- June 26, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“Seattle continues to defy a national trend of declining home values, but city house price increases are slowing, according to a Tuesday report.”
- WHERE HOME PRICES ARE HOT NOW DESPITE THE HOUSING SLOWDOWN
- May 10, 2007
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WALL STREET JOURNAL: GUIDE TO PROPERTY
By Dean Treftz“Portland, Ore., Boise, Idaho, Seattle, Salt Lake City, Houston, Austin, and Charlotte and Raleigh, N.C., are among the cities bucking the national trend. Homes' appreciation there between the fourth quarters of 2005 and 2006 far exceeded the national average of 5.9%, according to the Office of Federal Housing Enterprise Oversight. In some markets, like Boise and Seattle, the appreciation jumped well into the double digits.”
- LOCAL HOUSING MARKET STILL COOKING
- March 29, 2007
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THE DAILY JOURNAL OF COMMERCE
By Marc Stiles“The economists’ presentation – with its emphasis on the East Coast and the South ‐ was an exercise in patience. This is all interesting, I thought to myself, but what about the Northwest? They finally got to the meat of the matter and confirmed what we’ve been thinking all along: The Northwest is the exception to the doom and gloom.
I straightened up in my chair when the economists sang the praises of Washington and Oregon’s strong job growth, which they said is driving people to move here and, in turn, keeping the housing market strong.” - SEATTLE HOUSING PRICES UP 11% FROM LAST YEAR
- March 28, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“Seattle, unlike most, if not all, of the other metropolitan areas, continues to see robust increases in home prices,” said David Blitzer, chairman of Standard & Poor's Index Committee. “My sense and suspicion is this says an awful lot about the general economic climate in the Seattle area.”
- KING COUNTY GROWTH BOOMS
- March 22, 2007
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THE SEATTLE POST-INTELLIGENCER
By Aubrey Cohen“Strong job growth in King County and longer commutes to outlying communities are two reasons experts give for new U.S. Census estimates saying the county is growing faster than it has in years. The numbers, released today, show that more people moved to King County from elsewhere in the U.S. than left for another county last year – reversing a trend going back at least to 2000.”
- SOURED CONDO MARKET IN SEATTLE? THINK AGAIN
- March 8, 2007
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THE DAILY JOURNAL OF COMMERCE
By Dean Jones“As in most growth markets, new construction inventory has become a much larger category than resales. Right now there are three times the number of pre-completion units available than there are MLS listings downtown – and they’re selling twice as fast. Despite some deceleration in appreciation market-wide, pricing is still up overall.”
As spending by the affluent picks up, analysts say it could be a good sign for the economy
Home prices in the city of Seattle rose in January for the first time in nearly two years, according to one closely watched measure.
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