This article is predicting more downside in the next 6-9 months.
Here in Thurston County, I dare say I think we are at the bottom.
I know that sounds pretty gloomy and intense, but if we're hitting bottom, the only direction is up.
We are seeing investors beginning to come out of the woodwork, but the prices they're willing to pay and the cap rates they desire are prohibitive. Folks who used to be thrilled by a 7 cap are going for 10 caps, and they want an upside even then.
Owner user buyers are also trying to get in on the buyer's market, so I'm guessing we'll never go as low as some of the other cities across the country. The Thurston County magical government influence continues to be effective in keeping prices above the median.
That said, still not the best time to sell, but a great time to buy (if you can find a property!!!)
