ross seattle times

Bidding Wars, Skyrocketing Prices = Bubble?

In today’s ultracompetitive local housing market, there are now more home-bidding wars than at any point this decade. The result? For the first time during the economic recovery, the majority of homes are selling for above the list price in Seattle and surrounding cities.

It’s an inescapable reality from West Seattle to the Eastside: A dozen or more families and investors may vie for the same house. Then an onslaught of offers pushes the bidding far above the list price, sometimes hundreds of thousands of dollars more. Whoever wins often has to plunk down huge, nonrefundable cash sums before even getting to inspect the property.

Bidding wars: Homebuyers fight to pay more for Seattle homes – Seattle Times

Home prices soar again; some buyers camp out to lay claim to a future condo – Seattle Times

Seattle-area home prices set record; 2nd-fastest rising in nation – Seattle Times

Seattle housing: Is it a bubble? – Seattle Times

Home price rises easing, but not in hot markets – USA Today

Seattle leaders propose to limit Airbnb and other short-term rentals – PSBJ

Remodel Spending by Zip Code – NAHB

Zillow CEO Spencer Rascoff sold home for much less than Zestimate – Inman

 

Photo source: Seattle Times