Good Real Estate Investment

Are Condos a good investment?
How much does Puget Sound-area condominiums appreciate compared with single-family houses?
Are they significantly more affordable than houses?
This year, The Seattle Times did such an analysis, based on data from the King and Snohomish county assessors. The Times analyzed condominium data in much the same way it has done for its annual report on single-family home values.
Some of the condo results are surprising.
Take appreciation. Lore relegates condos to default housing, if you will, for people who can't quite swing a house purchase. But buyers apparently don't feel that way.
Who would have thought it?
Since 2000, King County condominiums have outperformed single-family houses two out of five years. And even when they haven't, their appreciation has been strong.
In 2005, for example, the county's single-family houses appreciated 16.3 percent per square foot. Condos climbed a healthy 13.5 percent.
Here's the kicker: Last year, the median price per square foot for condos in King County was $211 — or $4 more a square foot than houses in the county.
Demand has caused condos to appreciate handsomely, thank you.
Last year condominium sales accounted for 25 percent of King County's total home sales, up from 22 percent in 1999.
In the Seattle area, there are three main categories of condo owners: first-time buyers, often singles; empty nesters ready to downsize; and investors.
If you would like to see some of the great deals that are available in the area please call or email me.
I have been in the real estate business for over 5 years. I know your area better than anyone else, and I would be thrilled to be your advocate in buying or selling a home. I’ll put my extensive real estate expertise and experience to work for you.
Lonnie Snyder
Keller Williams Realty Southeast Sound
Phone: 206-406-2710
E-Mail :
Lonnie Snyder is a full time real estate agent and REALTOR® with Keller Williams Realty specializing in Residential Real Estate for buyers and sellers in Washington’s Kent, Renton, Newcastle and South Bellevue.

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