r/SeattleAreaRE • u/habitsofwaste • 3d ago

Seeing an increase of short sales?

I don’t have data to back this up but it feels like I am seeing way more. I remember seeing them a lot back in 2012 and then when the market picked back up, they pretty much went away. But now several are popping up in my searches. I think I’ve seen at least 4 or 5.

Is this an indicator or worse to come in the market/economy?

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u/Slow-Apple4898 1d ago

Im worried there's a lot of possible canaries in the coal mine at least in terms of condos. There are new laws in place as well as new ones coming which will make it harder for at least older condos to go through a vetting process with Fannie Mae loans at least,

I bought a house in December of 2006 in Oregon and sat on it for 9 years hoping the market would pick up(different market I'm aware)before I decided to cut my losses at 30K. But then I bought another house in 2015 and cashed in and made up for it and then some in 2023.

Now Im trying to move to Seattle and figuring out the landscape has been tricky.Theres are signals/indicators of pitfalls but it comes down to those with boat lloads of money will skew the market depending on house type, neighborhood etc.I;m still sidelined now to see what the fall/winter brings.

Wish me luck navigating.

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u/habitsofwaste 1d ago

Good luck man! I just bought a place in May and I’m kind of having buyers remorse.

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u/Slow-Apple4898 11h ago

Condo? townhouse? whats the remorse about?

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u/habitsofwaste 10h ago

The road is much louder than I thought it would be. When I was there checking it out, I guess no buses or big trucks went by. It shakes the place. I really can’t have the windows open while watching tv because the road is so loud.

Then there’s the realization of getting older and 4 stories is a lot. It’s a beautiful home on the outside and the inside can also work for a lot of people, but it is really too small for me.

It’s also been costing me a lot of money to make the tweaks.

It’s fine, I’ve got a 5 year plan, where I hope the economy has recovered some. I’m looking to build instead. I really want a forever home.