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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated
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To: Broken_Clock who wrote (119189)1/27/2023 5:23:43 PM
From: John Vosilla1 Recommendation

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Broken_Clock

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Jesse
January 27, 2023 at 8:29 am

This Reddit thread is amazing – the delusion of home buyers in the Seattle area is strong. Go to the entire thread to read the comments though, that’s where the real hilarity ensues. The OP is below:

Bought a house in the eastside (north of Totem Lake) for ~1.4million when currently houses there are selling for ~700-800k.

Bought during the absolute freaking peak (March 2022) and the house is old, small (~1500 sqft) and quite frankly both of us feel trapped here. While the rate we got was great, it is clear we overpaid heavily and we will never be able to sell this house. My wife is already angsty to leave, and is threatening to move back home across the country to her parents since the stress of ownership has been too much.

We’ve already spent over 20k in fixes/updates (some on updates…cabinets, a few windows…and fixes such as malfunctioning A/C and a rotting staircase)

I’m just at a complete loss. I work in tech and have a good job…but even that is on shaky footing recently. Our mortgage is for over 1 million dollars…for a freaking shack.

Just need somewhere to vent. I know that I made my bed and have to sleep in it, but…arghh I could just scream for days. Feel like a prisoner in my own home…I’ll be paying this off for a decade longer than if I just waited a year to buy (or bought earlier)

We just got so enamored in the buying frenzy, and were seriously worried we would priced out forever making us stretch and squirm our finances to the maximum.

Edit: Here are 3 similar houses (similar area, specs) to the one we bought:

redfin.com 750k
redfin.com 800k
redfin.com 820k

housingbubble.blog
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