Market Update

The metropolitan Seattle real estate market is one of the nation's top markets, and it continues to grow.  Yet, even top markets experience fluctuation.  The activity we are experiencing this month is not as busy as the Spring and Summer months, and signs show that the market is starting to cool down.  

However, Chinese buyers are still scooping up large amounts of real estate, particularly targeting the luxury market.  The New York Times reports that brokers and analysts are estimating that up to 40 percent of $1 million-plus homes which sold on the Eastside are purchased by affluent Chinese buyers. 

The "crying wolf" days of rising interest rates are due to be over soon.  The Fed is ending quantitative easing, and unless there is another formula to suppress interest rates, you can be certain that rates and the dollar will rise.  Quantitative easing is a fancy way of saying that we have interrupted the natural cycle of interest rates fluctuating and adjusting to the market.  Once this ends, interest rates will go back to their true levels.

In this economy, Ramblers are still the best investment you can make, and they will continue to hold their value over the long term.  Baby Boomers highly desire one level living, and when you combine our general low inventory along with the fact that it is very expensive to build ramblers, you end up with very little supply, and very high demand.  Buyers will pay cash, waive appraisal, and inspection contingencies to buy one of these gems.  

Ultimately, the Seattle area is an excellent place to invest in real estate.  With a strong local economy, and the large amount of people moving here from all over the world, eventually Seattle may be just like the Bay Area.