2018 real estate market
What do you guys think will haopen to 2018 seattle market? Think it will be As hot as 2017? And any good areas to invest? Im lookimg in to SE Seattle where gentrification is still going on (Columbia city, hillman city, othello, south park, rainier beach). What do you guys think?
Inventory is very low, interest rates are low, demand high. No signs of a slow down yet. Pending some event.
For god sakes get in the game. Do not hesitate or else the market will go up another 11%. My Seattle house has appreciated 32% in theee years.
Damn. Its already so expensive tho. Which neoghborhood should i invest in?
Bothell Redmond Bellevue Lynnwood issaquah
we are in a bubble going higher.
HQ2 will put a damper on it
Except Amazon has 8 million square feet of space occupied and 12 million square feet of space leased and under contract - that's 50% growth here that's already committed <shrug>
I think Amazon will sublet that. I bet a lot of that was negotiated before hq2 was planned.
It's going to keep rising. Our population is increasing by 1000 people a week. PwC has published a real estate trends report every year for the last 40 years. Guess who's on top for 2018? Seattle. This new tax plan further increases the incentive for tech to move to WA from CA. Existing mortgages are grandfathered so you'll see further supply drops.
There will be a slowdown in the Bay Area. Homes will sell at asking rather than bidding wars. Homes will be on the market longer. Owning a home will lose some appeal here due to the tax changes. More people will leave the area for cheaper cost of living. This should put less pressure on rents as well. LA housing will probably correct down. Seattle will still have a strong housing appreciation, but it will slow down and correct probably in 2019. Housing appreciation and growth will instead transfer to Texas. Houston, Dallas, and San Antionio will see large growth. Austin is peaked and won’t grow as fast. Obviously the dark horse is whichever city gets HQ2. That’s the only news I really care about, because I’m buying 1-2 homes in that market.
In the Bay area the tax plan has significant impacts largely due to the state tax using up all of the 10K limit. WA has no state tax, so the tax plan actually saves the average person in tech a significant bundle and has no impact on SEA housing. The grandfathering of existing mortgages may limit supply on more expensive homes, but this will be a secondary effect. Overall, I agree - you'll see strong price appreciation in Seattle through 2020.
If HQ2 ends up in Canada then it'll be irritating to buy a house there. Are there any other ways to get real estate exposure to Hq2 city - REITS?
Bryn Mawr/ Lake Ridge neighborhoods down by Rainer beach. They aren't good for quick flips but for long term rentals it'll be solid for you.
Seattle is the New Bay Area. Jump on it while you can still afford it. In 10-15 years you’ll thank me with your ridiculous return. Neighborhoods that are white trash/too far will become extremely attractive.
Op, here's Redfin's CEO's opinion: Redfin CEO predicts exodus from CA to WA. "If Kelman were to invest in the housing market in one of these emerging cities, Seattle, San Antonio, Denver, and Houston would be his top picks" Quote 12/28: "More people will move to Seattle, in part driven by tax reform. Many will be from California" https://www.geekwire.com/2017/redfins-glenn-kelman-predicts-mass-tech-exodus-coastal-cities/
Prices start going down this year because China restricting moving assets abroad and visa restrictions (H1B fastlane, removing work permits from spouses etc.)
False
Yeah...this isn’t true.