Projected home value: ~$783,000 by 2030.
Strong tech sector drives demand.
The Commercial Real Estate Outlook for 2025
The commercial real estate (CRE) sector has faced significant challenges over the past four years, particularly due to the pandemic, high inflation, and rising interest rates. However, there is cautious optimism for 2025, with expectations of stabilization and growth. Key trends include the rise of e-commerce, hybrid work models, and demand for sustainable buildings. Investment opportunities are seen in multifamily residential, data centers, industrial properties, senior housing, and a recovering hospitality sector. Overall, the outlook for CRE is more positive as the economy stabilizes.
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Tips for Turning a Fixer-Upper Into Dream Home
Evaluate the fixer-upper's potential by considering the location and identifying any hidden structural issues through inspection.Ensure the existing layout and foundation align with your vision, focusing on homes that need mainly cosmetic changes.
Washington: Among the Priciest States by 2023
Arizona’s average home price is projected to reach around $557,853 by 2030.
The state’s warm climate and relatively low taxes make it an appealing destination for people relocating from colder states.
Population growth is focused in areas like Phoenix and its surrounding suburbs, where housing demand remains high.
Arizona’s lower cost of living compared to other expensive states draws retirees, remote workers, and young families.
The state’s popularity continues to rise as people seek both affordability and quality of life.
Can Fed’s Rate Cuts Jumpstart The Struggling Commercial Real Estate Market?
In September, the Federal Reserve cut the Fed funds rate by 50 basis points, potentially benefiting interest rate-sensitive sectors like commercial real estate. Lower borrowing costs could revive deal activity, which had slowed. Analysts suggest that while lower rates aren't a "magic bullet," they could aid recovery in the commercial real estate market. Multifamily properties are in demand, but the office sector faces challenges. Transaction volumes rose for the first time since 2022, indicating potential market improvement.
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Whatcom County Market Update
Should You Buy a House Now or Wait Until 2025?
Homes are selling fast, indicating it’s still competitive.Buy now if you're ready.Buyers are hesitant now, so waiting might be wise if you're cautious.
Early-Q4: Best Time for Homebuyers
The first week of October 2024 offers homebuyers potential savings of over $14K on median-priced homes.
This week may see up to 37% more for-sale inventory compared to the start of 2024.
Commercial Real Estate Market Enters Normalization Period
The commercial Real Estate market is experiencing a normalization period with stable prices but rising vacancies.Migration to the Sun Belt has slowed, while the Snowbelt is showing improved performance.
How Much Does It Cost to Sell a House?
Overview of Selling Costs
– Commonly 10% to 15% of the home price
– Includes both mandatory and optional expenses
Taxes and Fees
– Property tax: prorated share owed at sale
– Real Estate transfer tax may apply based on location
– Capital gains tax on profits over $250K (or $500K for couples)
