Do you own a rental in Seattle? If so, you are likely sitting on a nice chunk of equity, especially if you purchased it many years ago; and for most, the monthly rent more than covers the mortgage.
The current Seller’s Market and phenomenally escalated prices have had my phone ringing if now would be the time to sell rental investment property. Buy low sell high, right?
Short answer, yes – it is a great time to sell a home in Seattle, best time in years and years and years. So if the plan is to sell in the near future, I would jump on this Seller’s Market.
Still, for a longer time plan, the ‘experts’ don’t see our local market taking a turn for the worse anytime soon. The continued job growth and lack of development land in our core are good predictors for price stability.
Of course rental rates and vacancies are influenced by a number of factors. A good read can be found on Zillow: 5 Rental Market Predictions: What to Expect in 2017 (and Beyond).