This article tells you how step by step!
According to Seattle Times on May 22, 2014:
From July 1, 2012 to July 1, 2013, Seattle grew by 2.8 percent — the highest rate among the 50 most-populous U.S. cities. Seattle added nearly 18,000 residents in the one-year period, bringing its population to about 652,000.
This data show 46 out of the 50 major cities grow last year – this is no accident. When economy recovers, large companies provide more job opportunities and naturally these jobs are in larger cities.
Followed by Seattle, Sammamishhas 2.2% population increase, and Auburn 2%, Richland 1.7% (where is Richland??) and Redmond(1.7%).
Currently there are 3.61 million residents in the Seattle-Tacoma-Bellevue metropolitan area. Among this figure, 57,000 are new residents who just moved to the area.
What does this mean to real estate market in Seattle? Like my mentor, Shiao-Yen Wu, said to me before, “everyone needs a roof on top of their head.” Whoever is thinking about purchasing a home in Seattle feels it, homes are closing fast and more and more expensive. Classical supply-demand effect.
I would say, for young investors who just started, get a little further away from the city to avoid bidding war. I am looking to buy my first investment property in suburb area 10-15 miles away from Seattle 🙂
Very through – good article for buyer who’s looking for a house to call home
The Sellers Market
Currently in the Seattle area we’re in the midst of a bonafide “seller’s market”. A seller’s market is typically defined as a shortage of available homes to buy, compared to the available buyers in the market. It typically shows levels below an inventory of six months worth of available listings. In other words, Most listings are moving in less that six months, start to finish. Last year, the number went as low as 2% in March and didn’t get that much better for buyers in December when it raced all the way up to a meek 3.7%. In March, a Zillow.com study put Seattle as the #5 ranked seller’s market in the US. That can be rough for a buyer competing for a home against other offers.
That said, just because a price is set on a listing doesn’t mean it’s a price worth agreeing to. There are a couple…
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Long time no update! I am going to San Francisco this weekend, will give you some insight about the difference between the 2 cities I see first hand this weekend! 🙂
Yes. What you just saw is HOME MADE BUN by my mother. THIS is what I miss the most about China. Delicious things coming from mother’s kitchen. Ah!
It’s been a great 10 weeks entering in graduate school. I have talked with countless people about real estate investment and I truly enjoy sharing my little piece of knowledge.
I lead 2 teams in 2 classes and rocked my XML class. I was voted to be on the board of (DAMA-PS)Data Management Association of Puget Sound, and I am so glad I could help.
I still stop and look at run down house – gee! I really need to start calling owners and making connections! It’s gonna be so much fun!
Writing another blog about how to write
a killer resume . I like mine and I am happy to share some key stuff I learned over the years 🙂
Last but not least! The blog on searching parcel number for development, which I have promised for a while, is almost done!!
🙂 have a great one.
I want to thank Carrie for making this awesome comic for our design. Check out some more of her great work here: http://www.junipercomic.com/
Some of you may wonder what I do at school? Well, not real estate?! It saddens me how much I miss thinking and talking about real estate every day. I enjoys talking and doing real estate. But, I committed and admitted myself to finishing this masters degree in information management, so I am going to rock it. Btw, shameless plug, if you are thinking about advancing your career in Information Management/ Information System/ IT in general, you should check out the iSchool at University of Washington (Seattle). I love our program.
Back to Molly. Molly is an Mood Tacker app we are developing for one of our User Interface design class. The cartoon was drawn by a wonderful friend of ours. (I will post her website later). The magic happens box is how Moolly changes lives. Yes. and I will came back later and tell you more about Moolly 😉 (Shameless)