More housing market quips: Everett edition

"Dr. Zoidberg - RIP Oppo" (thetomselleck) 05/25/2018 at 20:10 • Filed to: House shopping

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I’ve compiled some snapshots as to how far over asking price homes are going for in my town. The 300-400k range is especially vulnerable to this. People flock to the only affordable homes left — so they think — and then get sucked into a bidding war. Again ... in EVERETT!

I’m relieved I got outbid on the last home. That guy was upside down the day he moved in.

camarov6rs > Dr. Zoidberg - RIP Oppo 05/25/2018 at 20:16

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Is there really enough money in Everett to afford this? Or are these buyers hoping the the heavens that it’ll be worth that in 5 years?

fintail > Dr. Zoidberg - RIP Oppo 05/25/2018 at 20:30

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The key is to list a bit under market and let the suckers/bidders pounce.

Dr. Zoidberg - RIP Oppo > fintail 05/25/2018 at 20:33

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Correct. You’d actually be crazy not to implore this stategy as a seller. It works and there’s too much money out there to leave some on the table.

We actually listed our house high, I thought. But it didn’t matter, they still came out in droves.

Dr. Zoidberg - RIP Oppo > camarov6rs 05/25/2018 at 20:37

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Little a, little b. There’s lots of money *coming* to Everett. And the city is throwing millions of dollars at the waterfront, which is spiking up speculation/interest in the market. And people figure they should get in now before it goes way behind all comprehension (for Everett). I’m cautiously optimistic, but I still hold to, “Let’s wait and see.”

In addition, if you worked at Amazon, Microsoft, whatever in King county... Commuting to and from Everett can save 1-2 hours daily compared to living in Monroe, Marysville, etc.

fintail > Dr. Zoidberg - RIP Oppo 05/25/2018 at 21:00

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What percentage did you get over ask?

I assume the new place is expected to be a long-termer. I wouldn’t want to jump into this market again. In the short term, I suspect any so-called “correction” will just be a slower rate of inflation.

lone_liberal > Dr. Zoidberg - RIP Oppo 05/25/2018 at 21:04

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That side of the state has been nuts for quite a while but now it looks absolutely insane. Over here it’s the lack of inventory due to nothing being built during the recession. If we hadn’t have got the house we did I don’t know what we would have done since there is absolutely nothing on the market now that we want.

wafflesnfalafel > Dr. Zoidberg - RIP Oppo 05/25/2018 at 21:16

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it’s the Funko bump - https://www.funko.com/

Dr. Zoidberg - RIP Oppo > fintail 05/25/2018 at 21:18

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I got 14% over asking. It was a pleasant outcome.

fintail > Dr. Zoidberg - RIP Oppo 05/25/2018 at 21:24

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Just think of the Solara you could buy. Could have bought.

Eric @ opposite-lock.com > Dr. Zoidberg - RIP Oppo 05/25/2018 at 22:48

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Marysville is crazy. Such a long commute. So is Monroe.

I feel like I’m way out there, I’m a lot closer drive than most and I’m a 1-block walk from a Microsoft Connector stop. It makes it seem less out there than it could be.

Eric @ opposite-lock.com > fintail 05/25/2018 at 22:52

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I know you asked Zoidberg, but when my wife and I decided to buy, we came to the realization that if we were going to do it we needed to aim for a house that we could grow into, not a house that only serves our near-term future. It’s so hard to land anything that it had to be a very long-term home (like 15+ years, possibly 20+) to avoid all that effort/suffering again.

camarov6rs > lone_liberal 05/25/2018 at 22:55

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Agreed everything here feels very old and lacking certain features for decent prices or is in the well off neighborhood and thus 50% more expensive.

fintail > Eric @ opposite-lock.com 05/25/2018 at 23:11

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Not to mention price inflation over time often outpaces budget inflation.

Sampsonite24-Earth's Least Likeliest Hero > Dr. Zoidberg - RIP Oppo 05/26/2018 at 14:29

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if ive learned anything from the property brothers is list low/sell high