Seattle’s low supply of real estate inventory is nothing new to us in 2016, but an added roadblock has been brought to light. For those of you who aren’t familiar with Airbnb, they provide an outlet for hosts and travelers to connect and “book unique accommodations anywhere in the world.”
According to the company’s website, travelers can search for entire homes, apartments, private rooms, and shared rooms to temporarily live in.
Gaining popularity, many homeowners are using Airbnb while they’re away, in order to create cash flow in their absence. Unfortunately for the housing market, an added 1000 units are being used as Airbnb rentals by people who do not reside in them.
Since gaining popularity in 2013, crowdfunding is a resource that many have become familiar with. Used on a smaller scale by those seeking financial help for unexpected emergencies, crowdfunding became a nationally known phenomenon through the collaboration of GoFundMe and social media platforms.
What you may not be familiar with, however, is crowdfunding’s increasing traction among real estate investors.
In fact, Times Realty News called real estate crowdfunding “one of the most successful niches in the fast-growing U.S. crowdfunding industry” in their 2016 Real Estate Crowdfunding report.
To put this into perspective, real estate crowdfunding raised $1 billion in 2014 and $2.5 billion...
What do London, Paris, and Dubai have in common? Aside from being the most popular cities in the world to visit, none of them are the new hotspot for Chinese real estate investors.
In fact, through an impromptu IP search, Amy Bohutinsky, chief marketing officer at Zillow, found that the second most popular United States search destination for users in China was Bellevue, and the fifth was Seattle.
Wondering how the greater Seattle area became so popular? It provides “luxuries” that China is lacking: clean air, space to move around, and the opportunity to own land.
“In China, you purchase a land lease and after a certain amount of time, usually 75 years, the land goes back to the government...
Always searching for more projects, Co-Founder Will Heaton was contacted by the owners of a uniquely designed Sammamish home.
After walking through the home, Will noticed it was in poor condition, but knew it would make a great remodel project.
Three weeks in, the home was in the early phases of demolition. Amidst the mess, Will found a collection of Frank Lloyd Wright books and we noticed striking similarities to the 'Brandes House' (located just around the corner from the 'Taylor House') by Frank Lloyd Wright.
We began researching and discovered the home was designed by Milton Stricker. Soon after, we found the original architectural plans for the property.
In 2016, we have stepped off the decade-long roller coaster ride of a housing market. On a national level, home prices rose 4% in 2015 after a 6.4% increase in 2014. Although most parts of the U.S. are still regaining lost ground from the 2007 market crash, Seattle is still relatively unaffected.
Taking a closer look at the Puget Sound region, Seattle boasts home price gains of 10.6%, making it one of the most significant increases among the largest cities.
Puget Sound Region
Trends in the Puget Sound region continued from 2014 to 2015 by showing increased sales prices, reasonable sales volumes, and limited inventory of homes for sale. Sales volumes in King, Pierce, and Snohomish County collectively increa...