PNW Real Estate Increases are Insane!

·22 min·2 clips

Zillow makes a shiz load of money by charging realtors $1,000 a month to appear on listings they don't represent.

The episode begins with Ron and Don discussing a Zillow article that analyzed 400 cities, reducing nationwide growth estimates to 0.5% due to mortgage rate spikes. They note Seattle's market is down 1.8% year-over-year. The hosts critique national real estate headlines as misleading, explaining that Zillow profits by charging realtors $1,000 monthly to appear in area codes, then patching calls through without disclosing the realtors don't represent the listed properties. Ron presents a deep dive into Pacific Northwest real estate history, starting from 1975. He shows returns of 111% from 1975-1979, 55% from 1980-1989, 43% in the 1990s, 55% from 2000-2009, 69% from 2010-2019, and 36% from 2020-2024. The only negative periods were 1982 and 2008-2012. A key highlight is a 155% return from 2010 to 2024. Don shares an example of a neighbor in Queen Anne who bought a house for $400,000 in 2011 and sold it for nearly $2 million. The discussion shifts to adverse possession, where a builder needs land back due to a tennis court built on a property decades ago. They talk about land banking, buying properties with large yards for future development. Ron explains how property features like garages, location, and zoning affect value, using examples from Eastlake row houses and equestrian areas. They mention Kirkland's need for middle housing, as less than 10% of cops can afford to live there. The episode concludes with promotional content for their services and a home of the week in Kirkland.

As heard by us

Ron and Don use Zillow's housing numbers to show why Seattle-area real estate still has to be read property by property.

Zillow's survey of 400 cities gives Ron and Don a useful opening to make a local-market point: national real-estate averages can flatten what buyers and sellers actually see block by block.

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Why you'd press play

You want to know why a national real-estate number can feel absurd once it lands on your block.

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