Holy crap, these areas are expensive. 800k for a 3-4bd house? Thoughts on the market going up or down soon? I feel like it is level right now (in that it has stopped increasing, but isn't decreasing), and could possibly go down, but if Google, Amazon, or Microsoft expand further in the Eastside, it could end up going up even more...
Got to live somewhere, so might as well be "building" equity.
True. Aiming to buy in 2 years or so.
For the real estate the most important thing is location. Bellevue/Kirkland is premium, thus the prices.
That's fair.
Btw, FB is going to open a 2000+ headcount office between Bellevue and Kirkland next year, and moves/hires a ton of people this year to its Redmond campus and leased in Bellevue. Amazon is also expanding in Bellevue like crazy. And G is going to occupy the whole Kirkland Urban and likely build something new next to the existing Kirkland campus. So don’t expect it ever go down from today’s prices, unless G/FB/MS suddenly start layoffs simultaneously and people have to move.
Uh 800k for a 3-4 bedroom house is cheap.
800k is price for Issaquah and Sammamish. Single house in Kirkland and Bellevue are much more expensive. That is actually reduced price from last years peak by 10-15%. The price is stable now but could go up due to lowered mortgage rate. Bellevue has mostly only old houses. New ones are usually luxurious ones that are at least 1.5M.
Here’s a quick counterexample: https://www.redfin.com/WA/Kirkland/12716-NE-94th-Ct-98033/home/511402 Needs some luck and constant monitoring, of course.
Counterexample of what? $885k for 1890 sq ft doesn't sound like a bargain.
Real estate in Bellevue area is going to go up thanks to AOC and Amazon.
You think NY jobs will just come back to Seattle or Bellevue?
Prices outside of Seattle proper have actually gone down over the last several months. Granted I'm talking about homes that are 20+/yrs old versus new. Look in the 034 and 011.
Thanks!
OP I hope you bought something.
All investments, including real estate, is speculative in nature and involves substantial risk of loss. We encourage our investors to invest carefully. We also encourage investors to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable, but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way warrant or guarantee the success of any action you take in reliance on our statements or recommendations. Past performance is not necessarily indicative of future results. All investments carry risk and all investment decisions of an individual remain the responsibility of that individual. There is no guarantee that systems, indicators, or signals will result in profits or that they will not result in losses. All investors are advised to fully understand all risks associated with any kind of investing they choose to do. Hypothetical or simulated performance is not indicative of future results. Unless specifically noted otherwise, all return examples provided in our websites and publications are based on hypothetical or simulated investing. We make no representations or warranties that any investor will, or is likely to, achieve profits similar to those shown, because hypothetical or simulated performance is not necessarily indicative of future results. Don’t enter any investment without fully understanding the worst-case scenarios of that investment. P.S Copied from http://www.meridianpacificproperties.com/investment-disclaimers-investment-risks/
I'm just trying to buy a house to live in. Sure it's often viewed as an "investment", but I treat it as, "some day I won't have to pay rent or mortgage".
Compare it to if you rented and invested the difference. The investment growth could pay your rent, too.