Congratulations to Kate & Sarah on the closing of their investment property in Edmonds! Forbes magazine listed Seattle as the #4 Best Place to Invest In Real Estate. Siting that Seattle had a 12% rise in prices, the most of any city listed, they continued "In the very top markets, both population and jobs are growing at high rates and builders aren't able to keep up, which is why home prices have increased rapidly and rental demand will be strong."
This isn't just happening in Seattle proper, but in neighboring cities as well. Lake Forest Park saw a 15% increase. Bothell home prices increased 13% last year, as did Bellevue, Tacoma and Everett. While these double digit increases may not last forever, growth is still expected to be in the 5% area for 2017/2018.
We all know this is a seller's market right now, but it's also a great time for rental properties. Doing your homework and working with an agent who knows the area you are looking at can provide you an excellent investment opportunity.
Feel free to call if you have any questions about buying or selling!