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This is what Amazon’s plans could mean for Bellevue's housing market

By anonymous following x   2019 Mar 12, 6:47am 333 views   3 comments   watch   nsfw   quote     share    


Word on the street is Amazon wants to lease enough space to house 25,000 workers

When Amazon jumped ship on its plans to occupy a skyscraper in downtown Seattle, speculation regarding the online retail giant's next big move began to swirl.

Now, Redfin suggests Amazon is likely to focus its hometown growth on Washington’s Eastside suburbs, specifically in the city of Bellevue.

So, why Bellevue? Well, the city is already a popular homebuying destination for Seattle’s tech workers, many of whom work at Microsoft’s nearby headquarters in Redmon.

“We’ve always seen a lot of Amazon and Microsoft employees buying homes on the Eastside because of its suburban atmosphere and highly rated schools,” Redfin Agent Kathi Kelly-Billings said. “But as Amazon builds out its presence in Bellevue over the next few years, I expect demand from young homebuyers to put pressure on the real estate market.”

And Amazon is increasing its presence.

Not only is the company leasing enough space to house nearly 7,000 employees, but the word on the street is that Amazon currently in talks to lease space to house more than 25,000 workers, according to Redfin.

Local agents say Amazon’s increased presence is likely to heat up the city’s housing market, igniting interest from many Millennial homebuyers.

This is probably welcomed news as home prices in the city were down 6.2% year over year in January, according to Redfin.

“As employees from Amazon and other large tech companies move over to the Eastside, whether their job is moving to Bellevue or they’re planning to commute across the lake to work in South Lake Union, they’re creating a whole new cohort of buyers who are looking for something different in a home,” Kelly-Billings continued. “They don’t want their parents’ or grandparents’ house. They want new, modern construction.”

https://www.housingwire.com/articles/48404-this-is-what-amazons-plans-could-mean-for-bellevues-housing-market

#Housing #Bellevue #Amazon

1   Heraclitusstudent   ignore (2)   2019 Mar 12, 10:19am   ↑ like (1)   ↓ dislike (0)   quote   flag        

Kakistocracy says
the word on the street is that Amazon currently in talks to lease space to house more than 25,000 workers,

Just need to build 25,000 units. [shrug]
2   kt1652   ignore (1)   2019 Mar 30, 7:33pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bellevue is beautiful from May to Sep.
Miserable Oct - March.
Rainfall doesn't tell the whole story. It will be overcast, drizzle day-after-day for months.
SF Bay Area is great, but $$$.
Folsom - Work for Intel.
No snow, Monterey Saturday, ski Tahoe Sunday.

3   anonymous   ignore (null)   2019 Apr 8, 1:13pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Puget Sound Housing Market Roars Back to Life in March

KIRO radio in Seattle reports that March was a gangbusters month for local real estate.

After a winter lull, the housing market across the Puget Sound region rebounded in a big way in March. Why the quick turnaround, and where should potential buyers look for bargains? Windermere Real Estate’s Matthew Gardner stopped in to answer those questions.

In January, the median closing price for residential homes in King County sat down at $610,000. That number jumped all the way up to $667,00 in March. Similar increases were also reported in Snohomish, Pierce, and Kitsap Counties.

“Quite a significant pop,” Gardner told KIRO Radio’s Dave Ross on Seattle’s Morning News. “I started looking at the number of sales and transactions between February and March — they jumped by over 60 percent in King County, more than that in Snohomish, and about just shy of that in Kitsap.”

More including Podcast: http://mynorthwest.com/1338201/puget-sound-housing-march-2019/

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