Quote:
Originally Posted by LakeCleElum
No expert, but:
I listed my house on an acre and half 15 miles outside Seattle in 2007 for $595,000. Turned down 3 offers between $485-$500.
My realtor said we were entering a decline and it could take 7 years to get back to 2007 prices.
In late 2008, I leased it to a fellow Pelican member and moved 90 miles east to my retirement home.
Today, Have it rented to a Doc and his nurse wife. They want to buy it, but can't seem to come up with the down payment. (They made $175,000 last year) . Looks like a current price would be about $450,000....
Isn't hindsight great?
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4 miles from downtown Seattle and houses are trading on my street for 2/3 more than they were in 2012. Two old house have been torn down and the new homes (zero lot line monsters) both sold for over a million. That's a million dollar home with no view, no yard. Not much of a decline at least when you are close in to the city.