||[Jul. 25th, 2004|11:52 am]
this and this for details) in Seattle, the basic thesis of which appeared to be "Since mortgage rates went down, everyone is trying to buy, and even small starter homes are going for insane prices". The Seattle Weekly recently had a cover story on the Housing market (see |
I didn't quite believe this, since I bought in May 2003, after the rates had been low a while, and I got a house for a price I thought was fair. I figured all this recent whining was along the lines of "in 1970 you could get a house for $80K in Capitol Hill, and now $80K won't buy you a condo!". Well, I now have anecdotal evidence that things have indeed changed in a year:
I got my "official property value notice" in the mail, telling me what my property is "worth" in 2005 for property tax purposes. Keep in mind this is only based on what "comperable" houses in my hood have sold for, and not based on anyone actually coming and looking at my house and doing a "real" appraisal, so this doesn't include the garage improvements (or negatives like the boat planter).
According to the government, in one year, my house has increased in value by $16,000. ONE YEAR. I'm a little flabbergasted. It's like the dot-com stock thing all over again- "wheee, look at all this fake money I theoretically have all of a sudden that I can't actually spend unless I sold the house." But I guess in the long run it's good news.
In the short run, I guess that's more property tax I'll be paying. But the good side of that is that maybe the city will get enough of an influx of cash from property taxes that they won't have to close the library system 2 weeks a year (like they've done for the last 2-4 years to deal with budget cuts).
In other news, it was crazy hot here in the last few days. Unfortunately, this is also the weekend 2 sets of friends chose to have barbeques. Today's BBQ is still pending, but yesterday's was beastly (the weather, I mean, not the company). I came home dehydrated and hot (even after drinking water all damn day) and took a nap around 8 or 9 pm with the idea of waking up at 10:30pm and going to the Space Virgin Party. I woke up at 1am and decided that even if the party was going after 2am (which I wasn't sure of, due to a last minute venue change), I was staying put in bed. I suspect other people avoided the party for similar heat-related reasons, which is kinda ironic for a Burning Man party, but you know how these things go.
It must be cooling down, because 1) I am feeling human this morning 2) the cat wants to sit in my lap rather than stretching out near the window in her "porno cat" pose. So maybe today's BBQ will actually be fun and not merely an exercise in outdoor endurance.