With real estate topics so prevalent in the news these days, that is the question I am most often asked. My answer has been, and remains, “…very very strong, and I see it getting even better.”
My reasoning is simple. Our area is a tremendous value in terms of real estate prices and cost of living. Thos two things attract investors, retirees, and businesses, too.
Throughout my career I’ve worked with many clients from outside of this area that have bought investment property here. In the past four months I’ve seen a significant increase in the amount of inquiries I get from out-of-town buyers. Not only is our real estate significantly less expensive than Seattle and Portland, but it is also less expensive than that of Moses Lake, Spokane, Yakima and Walla Walla.
Many retirees, or soon-to-be-retireees, are buying second homes in our area, with plans of retiring here immediately or in the near future. They’re buying now, before prices go up, and they are attracted because of the low cost of living, no traffic, and year-round golfing.
Finally, non-Hanford businesses are expanding and relocating to our area. This is a trend that has been going on the past few years (i.e., Lowe’s, Amazon, Home Depot, WalMart, etc.). Personally, I believe we are now where Boise Idaho was about 15 years ago. About that time, Boise hit a boom of commercial growth, and what was the biggest advantage they had over us? They had a true four-year anniversary. With WSU?Tri-Cities set to admit freshman in 2007, we now have that integral piece.
I say get ready, our region is on the verge of the greatest time of growth in its history! If you’re already here, congrats! If you’re not here, then get here! What’s stopping you??
(Thanks to R.E .for co-writing!)
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