Seattle WA housing affordability gradually improving

This is the first in a series of educational articles being provided in an effort to help you understand what is really happening in the Seattle WA real estate market. This understanding may help you make sound home buying and selling decisions. The focus will be on Seattle WA housing affordability (including Bellevue WA, Renton WA, Kent WA, Burien WA, Tukwila WA and Seattle neighborhoods like Mount Baker Seattle, Beacon Hill Seattle, Seward Park Seattle and Rainier Valley Seattle just to name a few).

The starting place I have chosen has to do with housing affordability in Seattle WA. Sources will be cited, quoted, linked to and explained. It is my hope that you will go away from these articles with an understanding of how you might want to perceive your Mount Baker WA or Seward Park WA home buying potential. A lot of the time we just look at the “Honey, I think it is time to buy a home!” syndrome. And, by the way, you might be right. So this should just flesh in the bones for you.  You should find this CNN article of interest: Housing affordability back to pre-bubble levels

So, what is this housing affordability issue all about? How does it affect my existence? Simply put, housing affordability tells us a lot about the state of our home construction and home selling economics. Its about, does the cop who protects us, or the teacher of our children have what it takes to buy a home in the neighborhoods where they work? Do you? Below is a list of items which help us interpret Seattle WA community statistics.

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Seattle WA real estate market again beats the national picture

The latest report, U.S. April S&P/Case-Shiller 20-city NATIONAL home price index down record 15.3% UPDATE, just came out and it is not a rosy scenario. NATIONALLY home prices are plunging! NATIONALLY Home prices are falling the fastest in more than two decades.  This is the sixteenth straight month of yearly declines!  Get it… NATIONALLY. 

Check out the Comparison Chart below for an insight into how National Prices vs. Seattle real estate prices changed over time.

And that is how it is NATIONALLY.  But you don’t live NATIONALLY.  Seattle didn’t experience the irrational exuberance of places like San Diego, Denver and many other large cities.  I don’t know, I guess that we were just slow.  What luck.  You don’t go up so far, so fast.  So I would suspect that you don’t go down so far, so fast.

Last I heard Seattle WA, well, King County WA anyhow, had a price decline, year over year, of 5.3%!  That sounds like a lot to me.  But it also sounds like too much also.  Of course as soon as I write this article another source comes out with 4.8% drop in King County WA.  Numbers are simply coming too fast to keep up.  It seems like an onslaught, doesn’t it? 

So I ran the numbers straight from the MLS

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My blogs are for my home buying, home selling and real estate investor clients and prospective clients (mostly Internet leads), those that I am working with and the ones I am not working with.  If you want to understand how I look at you, in part, the below blog will provide you with an insight.  You are not someone who I want to disengage through overwhelming contact; rather I want to respect your anonymity wishes.  I just don’t know how to know when you are really ready to be a buyer or seller… AND that is who I am looking for.  So please, take a moment to just let me know your goals, objectives and time frames.  Who knows, we could be friends!  You could view me as a resource to answer your real estate and mortgage questions without being badgered.  You don’t want to be badgered and I don’t want that either.

You should be interested in the Internet leads (you) portion of this blog and the section dealing with Vlad and open warfare might just be an interesting piece.  I feel that, as a blogger, there is a need to support Vlad by letting you into an interesting story. 

This is a tale of intrigue, a tale of a lead generation company and their efforts to promote their unique method of lead generation, a tale of how they employed an authoritative real estate blogger to review their website and how it backfired on the lead generation company.   

But first a primer….

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