Seattle Unemployment Numbers Signal Real Estate Recovery

In today’s Seattle Times we see that the current unemployment numbers for Metropolitan Seattle have dipped below 6% for the first time since 2008. The Troll believes that these numbers will push demand for housing significantly. The current real estate market is already hot and it appears that heat will only increase. As Seattle residents already know there is only a fixed amount of property in close proximity to downtown. Today’s numbers feed into the logical assumption that demand for real estate in these areas will be off the charts. Now the Troll is no economics professor but even he realizes that the cost of housing will increase as demand increases. The Troll can personally attest for this new reality as he represented a buyer for a house in Ballard that secured 22 offers. That number of people interested in one house is staggering and reflects the lack of inventory available for those folks wanting to buy.

This new reality also provides opportunities for those whose property values have been depressed for the past 4-5 years. Interest rates are still at all time lows and now that Seattle residents have a restored equity position in their homes they can take advantage by refinancing. If you haven’t looked into the possibility of refinancing in awhile because you think your property isn’t worth what it takes to complete it give the Troll a call. He can pull some comparable sales and see if you can qualify. And for homeowners who want to  get out without bringing in cash to close you might be surprised to know that you most likely can. In either case the Troll can help.

The Recovering Troll

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