Archive for the 'Signs & Portents' Category

Higher prices are good news for home sellers

Published by Louise on September 13, 2005 in Signs & Portents. Closed

The Northwest Multiple Listing Service (NWMLS) issued its monthly recap of sales figures for the Seattle area and surrounding counties. While the median sales price of a home in King County increased by 17% from August 2004 to August 2005, median sales prices rose even more dramatically in Snohomish, Pierce, and Kitsap Counties (21 – 24%). Low interest rates combined with fewer homes on the market account for the increase in prices. Also noteworthy is the shortened length of time a home stayed on the market - approximately 7 days less than a year ago for all of the counties mentioned above.

What does this all mean? For one thing, it’s an ideal time for sellers (higher prices, shorter time on the market, and lots of demand), but it’s tougher on buyers. Higher prices, no doubt, force many buyers to purchase homes farther and farther away from Seattle, in areas where affordability may not be an issue. But that affordability comes with a different kind of price tag: long commutes mean higher stress, more pollution, and more burden on the infrastructure.

Click here for The Seattle Times summary of the report.

Technorati Tags: , ,

Restaurant boom could signal stronger local economy

Published by Stuart on June 12, 2005 in Signs & Portents. Closed

You know the old saying, “As the local economy goes, so goes the real estate market?” Well, okay. I just made it up. But with talk of a real estate bubble gaining traction, there’s at least some indication that the Seattle economy might just be producing the wealth to support higher home prices.

The Puget Sound Business Journal reported last Monday that restaurant openings are on the rise in Seattle. Several new restaurants have opened downtown in recent months, but outlying areas are seeing the most growth in eateries.

Restaurant boom: Sites multiply on Seattle outskirts - 2005-06-06:

Restaurant consultants say many more openings are planned, a reflection of the widening perception that an industry badly shaken by the dot-com fallout may finally be recovering.

“No question about it — ‘05 is going to be a good year for restaurant openings, and ‘06 will probably be even better,” said Arnold Shain, president of consulting firm The Restaurant Group in Seattle. “Consumer confidence returned last year, and now we’re seeing that come to fruition.”