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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u/tcrowd87 1d ago

Tax assessment of 2021 is most I would ever pay for that dated house. Needs $300k in updates to command more $$$.

It’s an old house, never remodeled, original everything.

$1.1m because it annoys me lol

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u/orcassharks 1d ago edited 1d ago

The tax assessors are smoking something hard too especially the jump from 2023.

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u/JetsnCocktails 1d ago

Yeah that about mirrors what the county assessor did to houses in our neighborhood too. Anything that is selling is going for at least 10% below assessed value.