To our valued clients and friends:
I’ve been getting quite a few phone calls, texts and private messages with concerns about Brexit (England’s referendum to leave the European Union), and how it will affect real estate in Seattle. I’d like to address it. I realize the media is sensationalizing this to a degree that is worrisome. YES, this is a seminole event in British, European and world history. And yet, everything is going to be just fine. This financial turbulence will likely be short term, and things will stabilize.
This event will make real estate investment in the United States more desirable than ever. Seattle is already one of the largest markets for international real estate investors, and the US looks even more stable now with potential financial turbulence in the UK and EU for awhile. Interest rates will most likely stay constant be reduced further in the midst of this uncertainty. Our biggest battle will be consumer confidence in the coming months in my opinion, which the election typically impacts as well.
Parts of our nation have already started undergoing a shift from a seller’s real estate market into a more neutral market cycle. Seattle hasn’t likely started that shift yet, and yet we will. We typically trail the nation. I want you to know that we expect and are planning for a market shift to occur in the next 12-18 months and we are not concerned. Markets shift—they do not stay in a straight line. Our job at the Vija Group is to read and stay up on the real estate market on behalf of our clients. We keep tabs on what is happening, and what is likely going to happen, so we can represent and advise our clients accordingly.
This is what I know: Now is a superb time to buy or sell real estate in the Seattle, Washington area. Please do not hesitate to call, email or PM me if you want to discuss this further or if you have any concerns. (425) 998-8452