The Problem with Housing in Seattle
Here is what I see as a huge problem with the housing market in Seattle: ITS VASTLY OVERPRICED!!! This house is listed for $339,950. Its 730 square feet and is described as needing some fixing. It was bought in 1985 for $53k, the owners will make a nice profit, good for them. Here is my issue, according to county tax records, the 2006 taxable value is $223,000, over 100k less than the listed price. Zillow has estimated the house to be worth $269,534, 70k less than the list. Now I know that just because it is listed for 339k doesn't mean it will sell for that amount, but good grief are they hoping potential homebuyers don't do research? I will be tracking this house to see what it finally sells for, I hope the new owners pay a fair price.