Tuesday, November 28, 2006

So Seattle is Cold today, not as hot as I said couple of days ago, Real Estate prices across the country drop in appreciation

Seattle Real Estate was #3 of the hotest to stay hot in my article a couple of days ago. But yesterday's snow fall, and Hot Monday Night Seattle Sea Hawks victory may not be enough to warm up it's real estate market.

A great article on the realestatehjournal.com website mentions that the national appreciation rates will drop from 12% last year to 1.9% this year in 2006. These numbers are based on the National Association of Realtors. This article mentions why real estate prices in cities across America maybe dropping, and why over valued markets are over values. It also does not say that, Seattle is on the Naughty list for real estate prices being over valued.

Why is Seattle not on the over valued list? Because it has Jobs, and economic growth. Haven't I been saying for years that Seattle has had the hotest job growth, actually no I have not. I have been saying that Seattle real estate like Minneapolis real estate, Chiacgo real estate, and Los Angeles real estate, has a lot to do with the Jobs in that area. All of the economic indicators I have looked at, have always said to me, that Jobs are the number one reason, people buy homes or sell them. More to come on this real estate market subject in the upcoming days and weeks.

Being sent from Blackberry email device, please excuse spelling errors.


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