Originally published at: https://boingboing.net/2020/01/25/bidding-war-for-seattle-home-t.html
…
2 Likes
By potential we mean you are going to need to burn it down and build a new home.
21 Likes
Bothell is not part of Seattle, it’s about 15 miles northeast.
13 Likes
Either there must be homes that sell for well above the median, or I’m overestimating the cost of constructing a house.
2 Likes
This. Real estate here is incredibly expensive when compared to most of the country and the inventory is really low.
10 Likes
The Seattle market is still bonkers in what people will pay. I would bet decent money a developer bought the place and will build a new fancy house.
8 Likes
The greater seattle metro is ridiculous. My folks bought a house in Edmonds in 2000 for $350,000 today it’s worth something like $1.2 million. It’s 1900 square feet and was originally built in the 1930s.
The neighborhood makes the difference.
Down the block from us was an abandoned house that had all its windows busted out and possums living in it. Black mold. Busted pipes and no water service anymore. Sat like that for 10 years. The house and lot sold just a few weeks ago for $900,000 and they’re just knocking it down and building a new structure and it’ll probably list at $2 million.
As a millenial, I look at all the real estate around here and I just think “How the fuck does anyone my age ever hope to own a home in their life?”
22 Likes
18 Likes
7 Likes
Worth it as a tear-down
1 Like
It was razed and redeveloped, then sold for $1.19 million in 2017…
Hey, this was big news - in 2017. Got anything on the current house market?
1 Like
Oh yes indeed. And yet, I look at my first home in far western Minnesota. A perfectly sound home. Nice neighborhood. Bought it for 21.5k in 2000. Sold it for about the same. Granted, there aren’t a lot of high paying tech jobs out there and that was 20 years ago. Now things are a little bit more expensive, though there are houses to be had for under 100k and a big one for 130k.
1 Like
Down a bit but not that much.
5 Likes
You can’t live there. I had this happen to me. I have to live in a cheaper area. I don’t know how so many people can be so rich to live in those places.
3 Likes
But if you look at the gestational cycles of those opossums and extrapolate over 10 years, it takes a negligible investment from each member of the current generation to afford that $900,000.
So the opossum free market once again fixes all economic problems.
14 Likes
The trick, of course, is to have already bought your house. We bought our Central District house in ‘97. There is no way in hell we could afford it now.
8 Likes
Mostly, they bought their house long ago, while the prices were still within reasonable reach.
3 Likes
Wait until the buyers find out about the cursed graves.
1 Like
“Plastics.”
1 Like
Don’t get me wrong, I grew up in Woodinville (next to Bothell) and lived in Seattle until I left in 2008 in part because of housing prices but I still visit my family there and love the place. My last visit made me realize how ripe that place is for a revolution.
3 Likes
