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New Pre-Construction Seattle Condo Real Estate Market, Pre-Sales High Rise Condominium Residences, Seattle Waterfront Property for Sale



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Seattle Real Estate
The Emerald City of the Pacific Northwest, Seattle, is home to some of the nation's most luxury and exclusive condo real estate development projects.

Live in the center of the culture, apartments in Seattle with nearby attractions available. There is a lot of Seatte real estate and you can find real estate online with using Yellow Pages and Phoenix real estate can can befound on an online phone book as well. Seattle is the largest city in the Pacific Northwest region of the United States. It is located in the American state of Washington between Puget Sound and Lake Washington, nearly 108 miles (174 km) south of the United States–Canadian border in King County. Seattle Washington was founded in the 1850s and named after Chief Seattle, or Sealth. As of 2004, the city population was estimated by the U.S. Census Bureau as 571,480. As of 2005, the city had an estimated population of 573,672 and a metropolitan population of almost 3.8 million covering an area of almost 9,000sqr mi. Seattle is the hub for the Greater Puget Sound region. Its official nickname is the "Emerald City" - because of the lush evergreen trees in the surrounding area. The real estate Seattle condo presales market has bee booming for almost a decade now, fueled by a strong economy, business tax incentives, stable government and an attractive location. The preconstruction Seattle condominiums on the market in terms of sales have stabilised over the past year, but in many accounts have kept their values, where as other major cities across the US especially in California, have seen up to 20% decreases in their condo prices. Seattle so far is bucking the trend in pre-construction condo pricing and values as this city is very attractive for homebuyers and investors who seek a long term real estate investment portfolio.

Seattle’s Booming Economy and Its Effect on Real Estate Prices
Seattle was the corporate headquarters of Boeing Aircraft until 2001, when the company announced a desire to separate its headquarters from its major production facilities. The Seattle area is still home to Boeing's Renton narrow body plant where the 707, 720, 727, and 757 airplanes were assembled, and the 737 is assembled today, and Everett wide body plant where the 747, 767, and 777 air planes are, and the upcoming 787 Dreamliner will be assembled. Even locally headquartered Starbucks held investments in numerous Internet and software interests. With such a booming economy, great universities and educational institutions, Seattle has attracted the best masterminds in various fields of study for decades. Because of this influx of population and a great economy that is stable, Seattle property values have increased significantly in the past few years. With a lower than usual interest rate and borrowing rate, in addtiion to home owners tapping into their house equity or interest only line of credits, the pre-sales Seattle condo apartment market has fuelled a big construction boom in high-rise luxury condominium towers in the downtown core. Much like in the sister Northwest city of Vancouver, BC, Seattle preconstruction condos represent more than fifty per cent of new propety developments by builders as multi-family housing is seen as the only way to densify Seattle and to make it more liveable for more people. The pre-sales Condos in Seattle have been quite pricey, but the advantage of living in teh city center far outweighs the incresae in price per square footage. In reality, Seattle's preconstruction market has slowed down due to decreased demand and the completion of many new developments within the next two years. In addition, with supply and demand balancing and tipping towards an increase in condo inventory, the pre-sales Seattle apartment condo market should stabilise somewhat through to 2010. Much like other cities, many amateur investors and homeowners are scared at this possibility and 'sell low' ... but remember, this does not mean that the value of real estate in Seattle is decreasing. It only means that people are getting scared and wanting out with very little to back up their decisions.

The most recent boom in economy centered around Microsoft Corporation and other software, Internet, and telecommunications companies, such as, RealNetworks, McCaw Communications (later acquired by AT&T and renamed AT&T Wireless), and VoiceStream (later renamed T-Mobile USA). Right now, a growing population of professionals continue to stream into Seattle, leading to a very stable economy and therefore, real estate market as well

The Climate of Seattle
Seattle's climate is mild, with the temperature moderated by the sea and protected from winds and storms by the mountains. The "rainy city" receives 38 inches (970 mm) of precipitation a year. Seattle is cloudy an average of 226 days per year. Most of the precipitation falls as drizzle or light rain because Seattle is in the rain shadow of the Olympic mountains. Average temperatures range from the mid/upper 30s (just above 0 °C) at night in winter to the mid/upper 70s (mid 20s °C) for summer highs. Seattle's hottest temperature ever recorded was 100 °F (37.7 °C) on July 20, 1994 and the coldest temperature ever recorded was 0 °F (-17.7 °C) on January 31, 1950.

Seattle Real Estate Booming
In the past decade the municipal and state governments of Seattle and Washington State respectively have planned a large revitalization urban real estate development of downtown Seattle. With much of the new luxury pre-sales condos being planned for Seattle's city core, real estate developers have had a field day planning and constructing some of the nation's most luxury and exclusive condo pre-construction towers. From villas to private estates, and from simple presales lofts to modern condo units, the Seattle market is hot and growing and there seems to be no end in sight. There are now over fifty new pre-sales Seattle projects passed and planned for construction in the next two years. With many luxury condo presales springing up in Seattle, there is an abundant number of choices today.

Seattle’s People and Demographics
As of the U.S. Census of 2000, Seattle had a population of 563,374 and in all the Greater Puget Sound metropolitan area is home to almost 3.8 million people. The population today is approximately 73.40% Caucasian, one of the highest percentages of Caucasians for a major American city. The city also has one of the nation's highest percentages of multiracial ancestry: 4.70% claim ancestry from two or more races According to the 2000 U.S. Census, 13.71% of Seattleites are Asian Americans, 8.44% are African Americans, 1.10% are Native Americans, 0.50% are Pacific Islanders, and 6.84% are from other non-Caucasian backgrounds. Seattle's robust economy and multi-cultural backgrounds has attracted immigrants from all over the world.

The median income for a household in the city is $45,736, and the median income for a family is $62,195. Males have a median income of $40,929 versus $35,134 for females. The per capita income for the city is $30,306. 11.8% of the population and 6.9% of families are below the poverty line. Out of the total people living in poverty, 13.8% are under the age of 18 and 10.2% are 65 or older.

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