Time to Buy Rentals in the Greater Seattle Area

[Steve Clifford]

Hello everyone! I'm relatively new to the platform, but I wanted to make a quick post about the rental market in the Greater Seattle area. It is INCREDIBLY hot right now. Some friends of mine were recently looking for a single-family rental. It was nothing particularly special. The landlord began bidding at $3,500/mo. and allowed 8 potential renters to put in their highest monthly bids for the property. It ended up going for just under $5,000/mo.  My point is that opportunities like this are all over our area because rentals are so few and far between. 

There are some great investment loan programs out there that require as little as 10%  down which is great. Pricing has also plateaued in our area, allowing investors the opportunity to avoid multiple offer situations as well. What do you think? Should more people be buying rentals now that competition is lower?

If you're looking to purchase in the Greater Seattle area, I'd be happy to help you make the best decision for your rental and certainly connect you with some of my colleagues with these 10% down investment loans.