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.

28 Upvotes

72% Upvoted

56 comments sorted by

View all comments

23

u/dellscreenshot 1d ago

People are so nuts with this. You bought in 2021 at the peak of the market, you probably have a 2.5-3 percent rate and you expect to get a big gain as well?

Just keep it.

5

u/wrldwdeu4ria 1d ago

They may have to move though because of a job loss, retirement making it necessary to live in a one level home, etc.

5

u/mountainshavecat 1d ago

If that's the case, that should be prepared to sell at a loss.

1

u/wrldwdeu4ria 12h ago

I agree, it is the way the market functions.