Page 17 - Venture - State of the Market 2020
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What real estate asset class- What areas/neighborhoods
es would you recommend in in the Greater Seattle Area
2020? would you avoid
investing in during the
Single Family, Mulit-fam (townhomes), Indus- upcoming year?
trial and targeted smaller retail.
Commercial Pierce County. Even though prices are
reasonable. It is not an ideal area for
Industrial, warehouse, older retail with investments.
up-zone potential, lower density but well
located apartments, storage, older ‘tired’ but North Bend (sewer moratorium). Any mar-
well located SFRs. ket that may have potential limited infra-
structure (roads in arrears/at capacity) etc.
Multi use - multi family looks poised Core areas with continued inflating prices.
to improve as rents continue to rise South Lake Union…
and push employees into smaller
spaces City of Seattle
Bellevue Kirkland Redmond
What real estate asset class-
es would you recommend Downtown large cities.
avoiding in 2020?
None. All are good if the deal is right. Prob- Do you foresee a correction
ably look carefully at apartment deals with in the market in the next 1-3
pipeline so full. years? If so, how do you
As the market cools businesses will begin to think the market will be af-
reduce workforce, so large office spaces will fected?
be harder to fill.
Anything where the per unit price is $1M & Seems that if rates stay in check and hiring
above continues we are good. Also in markets with
low housing costs and good employment
Commercial and retail (Idaho etc).
Yes. It will. But it also depending on the
What areas/neighborhoods interest rate updates.
in the Great Northwest Re- Flat, maybe a dip then roaring into the next
gion would you invest in the cycle.
upcoming year?
Yes, a cooling market with a small correc-
tion is on the horizon; The market will lose
King County. Specifically focusing on Bellev- between 3-5% of recent growth
ue, Redmond and Mountlake Terrace.
If national economy falters I expect Seattle
Areas with close proximity to Urban hubs in to slow down but not drop muchI think there
the lower price range. Even homes that can will be a recession. But it will not be a big
be torn down and new builds. one.
Uncertain, given the strong tech presence
Greater Seattle area, and almost any area in the region but I would be cautious of over
along light rail. leveraging
All 5 core Counties: King, Snohomish, Pierce,
Thurston, Kitsap VENTURE | 2020 STATE OF THE MARKET 15
VENTURE | 2019 STATE OF THE MARKET 17
