Buying a house in the current market
We are looking to buy a house. With the H1B crap hitting the fan, would the market correct and slow down? Is it worthwhile waiting, or will it continue to go up?
What is the percentage of h1b holder buying the home?
If you are visa depended, read the tearful stories before investing on real estate here in US. One liner answer is NO
Can you share some things you have heard, or any articles around this
Read reddit. People have lot of trouble selling/ paying mortgage..after visa termination
I would suggest buy a house anyways. No point staying 10-15 years just to buy a house !
It's not really the h1bs buying houses
No? But are they enough to make sizable impact on the market
Wrong! Loads of H1B’s are buying
I’d wait 1-2 yrs
Seems like you are saying it is going yo slump a little in the next two years. Do you think it will be people leaving and / or more construction and inventory?
The price hike might slow down, but it won't be lower than it is right now. People have been saying to "wait" for the bubble to burst in SF, New York, Toronto, Vancouver, etc. for the last 20 years. The economical context that allowed Seattle to become what it is did not change. Amazon is still growing like crazy Apple, FB and Google are all expanding their offices here. Microsoft is doing better than ever. International investment is growing, and this year was the year Seattle saw the most immigration. 15% appreciation a year is not sustainable, but prices will not go down except if something actually major happen. 10 years ago was the bet time to buy, but today is second best. I bought half a year ago. Lot of my colleague were telling me I should wait for the crash. In 7 months my house appreciated 10% already.
The real estate market is still hot around here and I don’t see a slump coming to this Cloud Capital. Even if recession hits, don’t think it’s going to impact Greater Seattle much, unless the two major companies AMZN or MS fail miserably. Seattle is the next Bay Area equivalent, due to the favorable weather and a lot more companies are going to flood the city. Hence if you plan to live here for at least 5+ years, I would highly recommend a BUY. Very soon 1 Million is going to be the norm out here, similar to California. Just my 2 cents.
Favorable weather for 4 months out of the year, you mean. But those 4 months certainly are glorious.
When I say favorable weather, I mean the 4 beautiful months of summer and then the less likelihood of a natural disaster occurring.
Ripe for a crash. And a really bad one. People will be forced to leave and foreclose or short sell. The same house that sells for 800k will sell for 209k.
That’s a billion dollar question. I bet with $100 that it will go down eventually, but that could be in 5, 10, or 20 years.... you see my point? Never time the market
If you look at the trends in most zip codes around Seattle they already are correcting. The further out you go, like North renton, the more obvious it is. I would say it is fifthy fifthy chances from there between stabilize or correct down. Mid term election outcome may have a significant impact on this, as if Trump losses majority he won't be able to pass garbage legislation anymore and thus it should help stabilize the markets.
98033
?
Zip code. Look at Rose Hill part. Then google “Totem lake village” along with office locations for Google, Oculus, Microsoft, Costco, etc.