In the ongoing quest for housing data that actually provides consumers with accurate information about the current market, here’s an example of why to take Zillow market updates with a grain of salt. I looked into this after reading their May 9, 2011 report about the housing market a few days ago, which stated that… Continue Reading
Category Archives: Real Estate News
Update on the 2011 Seattle Spring Housing Market
Here are some real estate market heat maps based on current supplies of inventory in King and Snohomish counties in April 2011. Red indicates a seller’s market (zero to three months of inventory available for sale), yellow indicates a balanced market (three to six months of inventory), and green (more than six months of inventory) is… Continue Reading
Pending Home Sales Up 2.1 Percent in February
Housing numbers released this morning show that pending home sales rose 2.1% in February 2011. This number reflects contracts that were actually signed in February, so pending sales are a much better indicator of current consumer sentiment than the Case-Shiller report, which is based on closed sales. (I explained in a recent blog post that because closed sales… Continue Reading
The 2011 Seattle Housing Market – Why the Case-Shiller Numbers Can Be Misleading
The Wall Street Journal ran a front page article today entitled “Why 2011 May Be the End of the Housing Crash.” They note that the Case-Shiller housing numbers that came out in January showing a drop in home sales in December might not have portrayed a realistic picture in terms of looking ahead. I told… Continue Reading
New Lead Paint Regulations for Pre-1978 Housing
As of April 22, 2010, there are important new federal lead-based paint regulations to take into account if you’re having any work done in a home built prior to 1978. Here’s a quote from the lead-based paint information page on the EPA website (emphasis mine): “EPA requires that firms performing renovation, repair, and painting projects… Continue Reading
Seattle 2010 Housing Supply Maps Show Active Spring Market
The Seattle area real estate housing supply heat maps are out for February 2010 and show a significant shift from what was primarily a Buyer’s Market in 2009 (green, defined as over 6 months of housing supply) to a Balanced Market in 2010 (yellow, defined as 3 to 6 months of housing supply.) Red areas… Continue Reading
Changes Coming to FHA Loan Program in 2010
Click ‘Play’ to hear me summarize proposed FHA loan program changes in 2010. A few years ago FHA loans made up only around 3 percent of the home loan market. Now they make up closer to 50 percent, due to their lower down payment requirements (3.5.%) and less stringent qualification standards, combined with the virtual disappearance… Continue Reading
Seattle Housing Inventory Stats for October 2009
Here are the October 2009 housing inventory supply numbers going back five years for selected Seattle areas.* Months of Inventory (MOI) refers to the number of months it would take the current housing supply to be completely sold if no new listings were added. The geographical area is marked at the top left of each… Continue Reading
Eastside Housing Inventory Stats for October 2009
Here are the October 2009 housing inventory supply numbers going back five years for selected Eastside areas.* Months of Inventory (MOI) refers to the number of months it would take the current housing supply to be completely sold if no new listings were added. (Lower numbers = more seller-friendly market.) The geographical area is marked at… Continue Reading
Seattle Area Housing Inventory Continues to Shift Towards a More Balanced Market
The Seattle and Puget Sound housing inventory numbers for July 2009 show that the real estate market is continuing to become more balanced. In the heat maps below red indicates a seller’s market, green indicates a buyer’s market, and yellow indicates a balanced market. (Click on the map to see a larger image.) A seller’s market is… Continue Reading
Beware of House Rental Scam on Craigslist
If anyone you know is shopping for house rentals on Craigslist, please make sure they know about a scam that apparently has been going on for a while. It was brought to my attention by an agent in my office whose client had called on a house advertised on Craigslist as available for rent at $2,200 a… Continue Reading