Current outlook for the Seattle real estate market?
April 4, 2016 3:51 PM   Subscribe

Mrs. Lattiboy & I are currently looking to purchase a house in the Seattle area. The market here is... horrifying. I would like the most current expert advice on bubble vs. brave new future.

100k over asking price, waving inspection, all cash offers. This is your typical day in Seattle real estate.

Are there any good blogs or authors who have a read into the real estate market? Specifically in Seattle, but larger national trends welcome.

I should add we're not even dreaming of a house IN Seattle, but in the South King county areas (White Center, Burien, Skyway, Lakeridge, Renton).
posted by lattiboy to Work & Money (4 answers total) 5 users marked this as a favorite
I take it you've seen the Seattle Bubble blog?
posted by MoonOrb at 3:54 PM on April 4, 2016 [2 favorites]

Admittedly not answering your question...

While some (most) of the timelines are pretty far out, do check out Sound Transit 3. It may influence where you buy, given that in ~10 years you may have a subway/light-rail station nearby.
posted by BustedCatalyzer at 7:01 PM on April 4, 2016 [3 favorites]

The current outlook seems to be: Either buy in now or gamble on the timing for the next economic downturn. The tech industry is concentrating in downtown Seattle and making living costs everywhere in a 30-mile vicinity rise month over month.

Start-ups and other established tech companies in San Francisco are setting up a remote presence here, because the costs are still lower for employees. Google is building new offices in South Lake Union. Facebook has nearly finished construction on its SLU building, I believe. Alibaba opened up down the street from Amazon's SLU-based headquarters, not too long ago.

Short of a sudden tech bubble meltdown — which is not impossible — the supply of real estate in Seattle will remain low for some time, with high prices to go along with it. The Seattle Times has good ongoing coverage.
posted by a lungful of dragon at 12:16 AM on April 5, 2016

I've heard some speculation that as far south as Tacoma will eventually be the new Seattle suburbs, but I'm not sure how accurate that is. Might be worth looking into though.
posted by corb at 12:35 AM on April 5, 2016

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