Friday, May 6, 2016

Warren Buffett: There Is No Bubble in Real Estate

Warren Buffett says now is a good time to buy a house, though not as good as it was four years ago. Still, Buffett says he thinks the chances of housing prices collapsing are very low.
from Diane Tate http://ift.tt/1SBVXGq

Housing Trends for the Puget Sound and King County, WA

Real estate business in the Puget Sound is starting to look like a late bloomer this spring. While hopes that warm weather and spring blossoms would stimulate the buying and selling of properties in Seattle and surrounding areas, those seeds are still underground, struggling to sprout. With fewer and fewer houses being listed for sale in the Puget Sound region, and prices soaring to dangerous heights, the housing pool is shallow, with seemingly little sign of change on the horizon. Real estate professionals recognize a healthy industry when there are between four and six months worth of inventory to work with. However, after winter’s brutal show of force, there are fewer than two month’s worth of homes available for purchase. If a house remains on the market for any length of time, it’s due to gross over-pricing or insurmountable problems; with inventory being scarce, most homes are selling quickly. Inventory has simply stalled, creating a wait list of buyers.
from Diane Tate http://ift.tt/1SUnrnm