September 16, 2011 17:32 by andrey
Lowest Prices for Kirkland Condos In Years
Looking over a 10 year price chart, Kirkland condos haven’t been this low in years… and that’s just the condos listed on the MLS that are not distressed. Bank owned condos in Kirkland are selling at prices that are creating instant equity for buyers.
Being able to purchase a condo with full Lake Washington water view and downtown Kirkland view for only around $300,000.00 is a reality. Just a few weeks ago, a condo just like that, above the Ben and Jerry’s in downtown Kirkland went for under $350,000.00.
When similar condos are not listed for anything less than $450,000.00, bank owned condos are presenting a huge opportunity every week at the auctions for small numbers of buyers. The best part is you don’t have to be an investor with hundreds of thousands dollars to invest… the opportunity is available for even first time buyers.
Lowest Prices in a Historically Strong Market
Sharply lowered condo prices usually scare many people away simply because historically it takes a while for condo prices to recover… but Kirkland is historically one of the strongest markets for condos in Washington state.
One of the main reasons is the limited amount of building permits for building condo buildings due to zoning and neighborhood committees… this creates a scarcity of condos compared to markets like downtown Seattle.
What this means is that low prices are quickest to rise again for Kirkland condos, compared to most other condo markets in Washington. In a market that is minutes from the bustle of nightlife in Bellevue and from the adventure of nature trails… while surrounded by Lake Washington and beautiful forests… bank owned condos are providing a window of opportunity that is being realized by smart buyers.
Strong Demand for Kirkland Condo Rentals
Condo rentals in Kirkland have some of the lowest vacancy rates of condo rentals across the entire state of Washington. As described above, the community in Kirkland is perfect for everyone from singles to families with kids.
Owning a condo that is located in a market that has great school districts and great entertainment while surrounded by beautiful scenery makes it a top pick for buyers and renters alike. Also, new hiring by Microsoft, Google, and Amazon… all only minutes away, is bringing a strong influx of new residents and many of whom prefer to rent.
They can afford to pay premium rents and refuse to settle for anything less than quality of life… making Kirkland one of the top picks. Whether you choose to live in a condo or rent it out… either way you will be positioning yourself for a great return on your investment.