Article

Recession or not---you always have to make investments in some basic things to float along, and real estate is definitely one of them. And when it comes to buying property during recession, nothing makes a better choice than condos.

If you are considering a condo purchase in Seattle, you do not necessarily have to block a lot of money in the luxury ones; the Seattle condos range in their sizes and prices. No wonder then, middle aged professionals prefer downtown Seattle condos that fit their pocket and also save hours of long drives to reach the workplace.

As a net result, the Seattle condos market is presently dominated by the buyers falling in the age group of 50 to 70. Even a few years ago, it was the men in their 30’s that were the major buyers of downtown properties. But now the middle aged professionals are contemplating a life style change and opting for the smaller Seattle condos in downtown. Most of them have sold off their sprawling homes in the fringes of city to move to the nerve center of Seattle. While some of these buyers---mostly the baby boomers--- have chosen downtown properties simply because they wanted to be near all the activities of the city, many of them bought downtown Seattle condos to simply avoid the hassles of daily commuting.

Real estate surveys were taken up over such high rise Seattle condos as Olive 8 or Madison condos. They revealed some interesting facts. Only 5% of the buyers of these Seattle condos told that they bought the property as an investment real estate. This can be attributed to the slow market, where it is not easy to quickly flip off the property for some speedy profits. As such, the current market for Seattle condos is typically characterized by a very low representation of flippers. The buyers for Seattle condos belong to a wide range of age group and income group. The buyers grossly vary in their marital status and job patterns.

In short: presently, the Seattle condos market is characterized by wide ranging supply of condos. But in the absence of sufficient move- in incentives, the younger buyers are left with fewer options. Even if they are putting their money in any downtown projects, they are doing so only after taking a close look at their prices. Many young buyers are of the opinion that some of the projects in the newer places are overpriced given the present state of the market.The developers too have kept a close watch on the market and they are expected to come up with several price incentives to lure increasing number of younger buyers into the market in near future.

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