Page 18 - Venture - State of the Market 2020
P. 18
Opinion on the current In 2019, the most expensive city
economy as a whole? for one-bedroom unit monthly rent
was located in downtown Bellevue.
Low interest rates, low unemployment, Do you think this trend will spread
economy is doing really well through Kirkland, Redmond and
Strong but at risk and declining other Eastside cities?
Locally, 2019 was another year of job and Yes, Redmond and Kirkland for sure. I say
wage growth with continued positive signs that Redmond will see a faster increase than
in our market. Kirkland.
Peaking....still...has to cycle at some point. Yes. The Eastside is poised for huge growth.
Elections at the end of the year will likely Seattle is a mess.
bring the next opportunity for assessment.
Yes, as businesses move workforce to these
Economy is strong particularly in the tech outlying areas rents will increase. Lack of
zone which is driving the market. infrastructure such as roads and mass transit
will mitigate this trend however.
Healthy but seems there could be some
tipping points. Undoubtedly
Due for recession Yes, the impending move of Amazon to Bel-
levue is likely to continue this effect.
It’s pretty stable but flat. I think there might
be some low soon.
What’s one thing you did dif-
ferently that helped you scale
Opinion on Real Estate from owning several proper-
market as a whole? ties to a net worth of between
$20M-$200M
The market is strong, seeing multiple offers.
A bit of luck and timing but mostly position-
Over priced ing the end product in a way that fits Buyers
profile. There is always a need just need to
Flattening but still strong overall. fill it.
Strong but beginning to level off; expecting a Do research before any move.
small correction soon.
Worked our way up from small bldgs to larg-
Seattle RE market is strong er 10 unit projects.
Locally, very healthy given jobs are increas- Consistent underwriting and decision
ing, in-migration continues, and new real making based on solid acquisition and
estate supply is being absorbed. entitlement fundamentals. Don’t overreach
and over-value just because others may be
It’s still pretty hot in our area. In general I willing to do so.
think it will be fairly stable.
Only buy what you don’t mind keeping and
Strong but at risk and declining. whose cash flow makes owning it easy.
Prices have leveled off but inventory is low Made smart buys.
creating a sense of urgency
16 VENTURE | 2020 STATE OF THE MARKET
