Over the last twelve months, Seattle real estate has seen a real improvement in prices and home sales. Over the last year, bank owned foreclosures have fallen to an all-time low which is an early leading indicator of a recovering real estate market. What this means is, if you are serious about making money with Seattle real estate investing, it’s time to start buying and holding onto as much real estate you can get ahold of.
Along with the Case-Schiller housing price information showing a marked improvement for Seattle real estate over the last year (and especially the last few months), unemployment numbers continue to fall in Seattle. A clear recovery is underway in Seattle and with a strong economy comes new young professionals with money looking for their opportunity to live and work. For now, rent on an apartment is much too high for it to be worth it for someone moving into the area. It makes much for sense for someone who has the resources to buy.
Seattle ranks high on the list of where investors want to invest. In a report issued by the Urban Land Institute this past summer, Seattle has emerged as the fifth best place for investors to place their money in real estate. Citing strong economic growth from nearby companies such as Microsoft, Amazon and other tech industry giants, Seattle also benefits from being a 24-hour global city. With access to international airports and one of the largest sea ports on the West Coast, Seattle is already mentioned as the San Francisco of the Northwest.
Along with the strong economic data, the report from the Urban Land Institute said that Seattle was rated #1 as a buy and hold market. This means investors see a robust recovery coming very soon for the Seattle market and are already positioning themselves in homes and properties that will give them the best return on their money. Office and retail space especially have become hot items on the Seattle real estate market. It can be easy to overlook retail space, but with recent developments after the election, Washington (and Seattle especially) have incredible potential to capture and lead a whole slew of new markets that are about to open up to the nation.
Another thing that’s helping Seattle Real estate investors is the glut of apartment building that’s occurring right now in the city (especially in Ballard). These apartment complexes are scheduled to open in 2014 and offer nearly 1,500 new apartments for the Seattle area. This will help relieve pressure on renters and stabilize the prices that have been rising without end since 2008. With the renters satisfied, people will be more likely to save money and be able to look towards the future to find a more permanent home that they can invest in. This will be an opportunity to look out for in 2014 and 2015 as these apartments begin to come online and rents begin to go down. It’s nearly a cliché in real estate, but with all the recent economic data, there really never has been a better time to invest and make money with Seattle real estate.
Leave a Reply