Will the real estate price keep going up? Or is it wise to wait for a year or two till the housing market calms down and there are more inventory in the Seattle/Bellevue/Kirkland area Household base salary - 320k #housing #seattle
Today is always(most cases) cheaper than tomorrow in real-estate.
So you predicting, there won’t a real estate market crash?
Fk no
Buy now!!! But make sure to do only all cash offers no contingencies and to be atleast 20% above asking
Lol
You really need 30-40% on eastside to get a chance
I believe both of these stances are extreme. People in this market might know a lot more, but just sharing a rationale built up from recent conversations. It's hard to imagine prices going down, unless there is a catastrophe of some sort. We thought covid would have been that but that didn't happen, quite the opposite because tech turned out stronger. What might still happen is, once offices open up and people realize the world is not going to be that much remote as we thought it would be (more likely a hybrid), perhaps the excessive number of offers would come down a bit. Mortgage rates going up would also contribute to that slow down. That might mean houses take a bit longer to sell on decent parameters i.e. not 30% above asking price (hopefully just at or slightly above) and not without contingencies or all cash offers with escrow in a day. That happenening in general would be good for the market and people both in the long term. However, that's just anybody guess. Bottom line, likelihood of prices actually coming down is infinitely low. Either they would keep growing the crazy way they have been so far or might be a bit saner and just sell like any normal growing market. Out of these 3 options, the first one is very unlikely. People tend to mix that with #3 which is misleading
Unlikely housing will go down, only change is the rate it will go up. If it ever goes down the rich will just snap it up for rental properties. Plenty of companies also buying up property for development or reselling or renting for profit. Unless magically the city opens up all land for single detached homes for zoning just expect prices to go up.
Buy high… during inflation… sounds a very good advice 🤦🏻♂️
I was waiting for 4 years, now I cannot afford it