Transportation driving home prices higher

Recent reports highlight Seattle as having the 2nd worst evening commute in the country. We all know how valuable our time is. Nobody wants to wait in long commutes to get home in the evening. Some speculate that this could be one of the major reasons driving real estate and rental prices up so fast. Neighborhoods around downtown, with shorter commutes, are seeing the biggest spikes. Areas like Ballard, Capitol Hill, Fremont, West Seattle etc. are seeing larger increases in housing costs and rent. This trend is forecasted to continue through the busy buying months this summer.

Finding the right place to invest in rental properties can be tough in such a hot market, but it is still possible. Future transportation initiatives like taking our light rail to Northgate and beyond can help ease the price pressure near downtown and open new areas of desirability for homeownership and renting.

Contact us at Proper Rent to discuss the best strategy for you.