The real estate market has definitely hit a high note in Seattle, Tacoma and Bellevue. Visitors and clients discussed with Jesse Tam the quality of life and investment opportunities in the commercial and housing market. The downtown cores of Bellevue projects range from office towers, hotels with condo using funding sources from the EB5 investment program. The USCIS administers the Immigrant Investor Program “EB-5,” created by Congress in 1990 to stimulate the U.S. economy through job creation.
There are several projects using the EB5 funding source and centers to finance the skyscraper towers in South Lake Union. Drive around the areas and you’ll notice the detours, construction cranes and of course, traffic jam during and off-peak times. Commercial properties are currently sold to outside investment groups at top prices since office spaces are in high demand. The job market is strong with skilled workers and high-tech industries expanding offices such as Google, Expedia, Zillow and others to Washington state.
The housing market has created multiple offers and above prices on some of the homes sold. Fewer listings and more buyers, while interest rates remain relatively low creates a challenging market. Sellers with houses priced correctly are seeing their listing sold quickly and cash offers. Jesse Tam understands the needs of the clients searching for certain communities and the right real estate. The close proximity to shopping, transportation and education are important factors for families in Bellevue and surrounding areas.