Pacific Northwest Real Estate Investment Market Report: Jan. 2020
Mortgage Broker vs Direct Lender. You’re in the market for an investment property and you’ve found a viable project, and your next step is securing a loan. For some, this is the most stressful step. You want to ensure your finances are in shape and examine your credit score before deciding where to apply for your loan. This used to be a simple matter of walking into a bank or credit union. Today there is a wide range of options, including mortgage brokers and direct lenders.
Find out which option is for best youMarket Activity
The continued expansion of tech titans in the Seattle region rivals the Bay Area, boosting housing demand. With Facebook, Google, Amazon, Microsoft, and a recent announcement from Apple, thousands of jobs are expected to be added to the Puget Sound region. Surrounding neighbors such as South Lake Union, Redmond, Bellevue, and Kirkland, will be prime targets among the highly paid tech employees in search of housing.
Source: Institutional Property Advisors
Market Activity
Of all 2019 sales, 27 percent occurred in the final quarter. This goes against the usual trend of increased volume in the final quarter according to Colliers International. Occupancy rates hold steady in addition to per-unit pricing remaining nearly unchanged. There has been a 3.5 percent increase in rental rates year-over-year for the region, led by Washington and Clackarnas County.
Market Activity
Idaho’s first opportunity zone project is expected to begin construction in spring 2020. The mixed-use development will be located in Downtown Twin Falls and consist of 18,000 square feet of office and restaurant space. There will also be 40 residential units. In Eastern Idaho, vacancy rates remained fairly stable across all property sectors in each county. The retail sector is just under 5 percent.
Source: Colliers International
