Forbes Postions Seattle as #1 Rebound
November 20, 2008 by jamesstroupe
Filed under City of Seattle
The sky is falling, the sky is falling!
Not here.
Forbes too is now reporting some interesting data regarding Seattle’s real estate market. The Urban Land Insitute (nonprofit research and education organization) asked 700 professionals in the real estate industry to recognize what areas were the best to invest in for commercial space. Seattle was recognized as being #1 despite the loss of WAMU and downsizing of Starbucks. The article also made sure to make mention of the residential market, since it’s typically driven by increased wages and unemployment.
The best cities in which to invest are those that are considered gateways to international investment, have vital downtowns where people can forgo cars and don’t have a glut of condos or office space.
Seattle is “a diversified market, has a good base of business and is becoming a 24-hour city,” says Stephen Blank, senior resident fellow, finance, at the Urban Land Institute. “It’s going to be in a good position to come back.”
#2 – San Francisco
#3 – Washington D.C.
#4 – New York
#5 – Los Angeles
Finally, the good news that we’ve been pushing since we started blogging is making headway! So, for those of you considering the sale of property; hang in there. Buyers who are thinking of buying; it’s time to get in gear if you still want to take care of what is currently, “a down market.”
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