However, just like the stock market RE has its peaks and valleys as well. 

My last install a few months ago I used one from Lumber Liquidators that was 10mm and had beveled edges so you don't get the characteristic peak at the joint from the planks flexing.

Next time, I think I will oversee the project management side of things myself to see if i can speed things up.

Only the purchasers that are "new" or whom rarely purchase are getting get caught up with the speed of the market. 

I would agree with you that home prices are sky-high throughout the Seattle area and climbing.Remember that school district is important to a lot of folks, it is going to be very difficult finding anything low-priced in such an area that isn't a total teardown.Have we seen the peak of the market yet?

One of the tricks of this business is explained here: :)https://www.biggerpockets.com/forums/70/topics/253927-question-about-using-roth-iras-as-claimed-by-eddie-speed

Many of the lots in these high end neighborhoods are selling at much lower prices than the owners paid at the peak of the market several years ago.Is anyone currently investing in this area, if so I would love a few pointers on how to dig a little deeper into this to see if the profitability is there and what is the risk factor in spec building vs rentals. 

Good thing about Lompoc is the property prices, for the most part, are not at the 2006 peak levels yet.

The property manager is kept up to speed with never having to make a phone call.I hope this helps.

Not sure why I had such a problem understanding this process but I'm all up to speed now and everything went smooth.