Category: Market Report (7)

The Seattle market has continued to thrive and drive up home prices in and around the Puget Sound making it harder for some buyers to purchase a home. A new startup wants to help you buy a house in Seattle, but there is a small catch.

Loftium is a new company that seeks to help eager home buyers purchase 50 homes in the Seattle area by helping with the down payment. For those who do not have enough money saved for a down payment, Loftium can help buyers in the competitive market.

The catch – home buyers who opt to use Loftium must sign a contract renting a room on Airbnb for a specified time and turn over the majority of the income from Airbnb to pay back the company. Contracts can range from one year up to three years. For more information on Loftium, read the full article HERE.

 

A recent article in Multi-Housing News reveals Seattle has been deemed the best residential market in the US. The website ranked large cities based on their potential for “long-term growth, equity and profit for investors.”

A total of 300 cities, with a population of 300,000 or more, were assessed on the health and affordability of the real estate market as well as the economic environment. The cities were ranked one additional metrics “included home-price appreciation, average number of days till a house is sold, share of underwater houses, foreclosure rate and the city’s ratio of rent price to sale price. Broader economic metrics included population growth, job growth, unemployment and underemployment rates, and median credit scores” and given a score out of 100 points.

Additionally, smaller cities of 150,000 people or less were also assessed. Coming in as one of the top 10 best cities for the residential market was Bellevue, WA. While both cities ranked high in the residential market, MHN points out “a top ranking doesn’t mean a place is especially inexpensive.”

These results should come as no surprise to Washingtonians have seen the Seattle economy boom over the past few years thanks to tech giants like Microsoft and Amazon. Additional statistics from The Seattle Times reveal the high demand for housing in Settle. According to the article, “Seattle-area prices rose 2.6 percent — also by far the fastest growth in the country and more than three times the national average.” If you are ready to find your home in Seattle, Bellevue, or surrounding areas, contact us today!

In recent years, the Seattle area has attracted new residents in droves. The booming job market, nearby outdoor amenities, and relatively affordable cost of living has many considering our region the most desirable for relocation. Can you blame them? With Amazon and Microsoft  regularly making huge business moves (not to mention Starbucks, Facebook, Google, T-Mobile, Expedia, REI, Apple, etc) the job market is consistently flourishing.

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It’s no secret that over the past several years Seattle has been a haven for relocating families, foreign investors, and transferring tech workers. That’s why it also came as no surprise to us that home values have been steadily increasing; and that the Seattle real estate market continues to be ranked one of the hottest in the nation. A recent article in the Seattle Times stated that 40% of all homes for sale in Seattle were listed at $1 million (in March). That’s months before the home-buying season even truly begins!

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