Results tagged “homesales”

Nationally, existing home sales fell by 8.6 percent in November, says the P-I. Troublingly, "sales of distressed properties made up 45 percent of all property sales in November." But here's the kicker for local home shoppers and sellers: "Sales of existing homes in the Seattle area were down nearly 37 percent in November from October and 45 percent from November 2007." Seattle Bubble reports that in King County, the existing inventory of homes on the market, selling at the current rate, would take nine months to work through. They also have a cool graphic that breaks the inventory down for you.

• Sable Verity wishes us all a Happy Thanksgiving, unless of course we get shot and killed before the holiday, which is becoming all too common in Seattle these days. The blog notes that this weekend, 11 people were shot in five separate incidents and one man was stabbed--all within a 36-hour time period.
• Seems like everyone in local politics has a blog these days, including Seattle City Council member Tim Burgess. Yesterday Councilmen Burgess talked about the city budget and youth violence in Seattle, a topic that desperately needs to be addressed, preferably last Friday before 11 people were shot in 36 hours.
• The Rainier Valley Post covered one of this weekend's shootings, which left two teenagers wounded. The shooting, which took place at Rainier Avenue South and South Cloverdale, is believed to be connected to the deadly weekend shooting at Southcenter Mall.

It doesn't seem that long ago that no matter which daily newspaper you picked up, the real estate news was good and getting better the by the second. This morning the Seattle Times has a story about even highly motivated home-sellers not finding buyers. Key sentence: "The Seattle-area housing market, once touted as bulletproof against the forces that were pulling down other markets across the country, is now stressing out sellers, who are seeing inventories rise, sales fall and prices drop." We love that "once touted." Wonder who was doing all that touting? Damn those touts!