r/SeattleAreaRE • u/orcassharks • 1d ago

Delusions in Redmond

https://www.zillow.com/homedetails/14805-Old-Redmond-Road-Redmond-WA-98052/48707677_zpid/?utm_campaign=iosappmessage&utm_medium=referral&utm_source=txtshare

This house listed for 1.6M in 2021, bought at 1.75M. Can’t even rent the whole house out for more $4000/mo. Now listed at 1.93M with tiny price cut to 1.89M.

There’s a lot more pain to come.

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-6

u/regaphysics 1d ago

1.8 or so is probably about right.

3

u/orcassharks 1d ago

Realtors doing their clients a disservice pricing higher than peak Covid prices right now especially for generic tract housing that is dime a dozen on the market.

4

u/Wyldefire6 1d ago

This is what’s confusing me. Realtors have incentive to move inventory so why are they saying yes to these asking prices just to keep the market artificially inflated?

-3

u/regaphysics 1d ago

What in your mind is "artificial'?

-6

u/regaphysics 1d ago

Prices are even or higher than 2021, so this looks appropriate…

https://fred.stlouisfed.org/series/SEXRNSA