JUST ONE DAY, just one teeny-weeny day after I proclaimed in this blog the coming severe decline in high end real estate prices in Seattle a major developer is announcing a TWENTY PERCENT INSTANT PRICE CUT on the sale of his condos in Bellevue, Washington.
Today's Seattle Times announced in an above-the-fold headline the big news. You can read it here.
I know I'm great at market predictions but this ridiculous. I've been forecasting the Seattle real estate market with psychic clarity for nearly five years now. I predicted buyers of Seattle real estate wouldn't make a nickel on their purchases in a prior incarnation of this blog in 2004 and guess what? I was right. Today's prices are below 2005 and falling. Here is an excellent blog discussion of Seattle real estate prices in 2009.
But I was saying this stuff back in 2004.
Robert J. Abalos, Esq.