Forecast on Seattle’s real estate market

[Brian Mendez]

Hello!

My wife and I purchased a house up in north Seattle and are using our previous house as a rental. Thankfully, we were able to hit the ground running as the process of finding a tenant and getting situated at our new place went quite smoothly. So far things have been working out nicely, but I am curious what people’s thoughts are on the Seattle market —particularly in regards to current events (political and COVID related)? It seems there are a decent amount of companies packing up and leaving Seattle and I’d like some insight on where things may be headed. Being that this is our first attempt at being landlords, we’d like to educate ourselves before making any impulsive decisions we’ll regret down the road. Any insight is greatly appreciated!

[Michael Haas]

@Brian Mendez although the local politics are concerning I don't see a massive devaluation of Seattle Real Estate as likely. As long as there is job creation in the region and net population inflow we'll continue buying for our portfolio.

Risk mitigation is definitely worth discussing though: If you have a lot of properties in Seattle proper i'd be looking to diversify and pick up a few outside the city limits, just in case our city council (and one councilwomen in particular) come up with something even more hare-brained.