Looking for 2014 Real Estate Trends

The trending for 2014 has already started. Always interesting to read the predictions for the next year and then follow along to see if they come true. Many of the lists are just fluff but I randomly found one that had some points that have been more thought out. It is from “experts at the Urban Land Institute” and you can read it at CBS News.

It’s all very interesting and makes sense to me, especially point number two “second-tier cities will lead to recovery.” Yes – I just toured Seattle with a big time Los Angeles developer. He is VERY interested in Seattle due to the lack of available land in LA.

Also “condo development is on the back burner” rings true. Living in Ballard I see all the many, huge apartment buildings going up, some completed and available at high rents, some still in the works. I am certain if condo prices keep climbing in Seattle and the supply stays tight, some of these developers will choose to convert the buildings to condos for sale, as the article suggests.

I love “the suburban is going urban” part. I don’t think of Seattle as having ‘suburbs’ per se – having lived in Chicagoland I experienced the true sense of the word – and no land to really develop new communities. But I do see nearby communities, like Bothell, buiding their own urban centers which makes them great choices for those commuting to Seattle but wanting to stay home for activities.