[“Their stock has been doing very poorly of late, down from $125/share one year ago to about $16.50/share today.”] If this doesn’t scare the heck out of you, nothing will. The unparalleled concentration of wealth is accompanied by: domestic legislative power/influence international and domestic control of financial markets control of information/data distribution Together this represents too much control in the …
It’s Finally Happened
As we predicted here beginning 3 months ago, the Seattle Times has finally caught up with the changes in the local residential real estate market that have been evolving over the last 6 months. This is great news, especially for those that have been “under water” the past few years. However, we predict a caveat accompanies this news: the shortage …
Northwest Traditional Style Homes Will Outpace Market
For me, one of the most enjoyable aspects of selling residential real estate in the Northwest has always been the appealing architecture of our home grown traditional styling. The large-ish local builders have taken pains over the years to build homes that exuded classic styling without being absurdly ostentatious, and were a bit above “affordable”, at least in the late ’80’s …
Trapped?
Ever get the feeling that the deck is stacked against you. This Jan 31, 2012 article in the Seattle Times, Page 3, “Freddie Mac bets against struggling homeowners” justifies that feeling. If you’re self-employed, have less than 20% equity in your home, and currently have a mortgage interest rate in excess of 6%, don’t expect relief anytime soon. If you’re a …
BOEING/Machinists Deal is Huge!
Folks frequently ask us, “how’s the market?” Our response is generally, “inconsistent, fits & starts, up & down”. When asked what the future holds we have responded, “it depends greatly on the local job market. If we can get an infusion of positive news in that regard, the benefits to the housing market should be felt immediately”. Today’s news that …
Happy New Year 2009
So arrives another new year. Live your life! As 2008 closed out amidst concern, if not angst, over the economic turmoil that has consumed our collective national consciousness, I am perplexed. Is it the power of the media that has us running for cover….because it tells us to? Granted, major financial institutions and auto manufacturers failing is going to grab …
The More I Learn, The Less I know…..
As if things weren’t strange enough, the subscription service that brought you Monday Morning Coffee for the last few years ceased operations in June. Since then I have been musing as to what to do for the many subscribers that have enjoyed those weekly snippets of wisdom. A dear long time friend and client jarred me back to responsibility last week …
Housing Predictions For King County and South Snohomish
Everywhere we go people ask us the same question, “how are things in real estate?” Depending on our energy level at that point in time, our answer might take 10 seconds, or 10 minutes. Sometimes people ask because they are truly interested from a personal standpoint. Sometimes it’s too find out if we are suffering as much as the media says …
Housing Pessimism: Get Over It….
I suppose it is not fair to ask today’s prospective home buyers what all the fuss is about. Given the daily onslaught of negative media coverage of housing and the economy, it is permissible to be concerned about whether or not to take the plunge. However, I don’t understand the hand-wringing, mind warping fear that has gripped many home shoppers to …
Skin In The Game
It makes sense. If we are to believe that there is a simple preventative measure which will reduce the chances of another mortgage market meltdown, “skin in the game” is a good place to start. Getting rid of 100% financing is a foregone conclusion. But what about the 97%, 95%, and 90% loans? It requires little change in the market …
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