Seattle's Luxury Homes Get a Tech Boom Boost

As Featured in The Wall Street Journal

Written by Alina Dizik

Given the trend of technology giants to relocate to, or open offices in, the Seattle area, it is no surprise that, as Alina Dizik from The Wall Street Journal (WSJ) reports, “real-estate prices for luxury properties close to downtown are up.” The article, “Seattle’s Luxury Homes Get a Tech Boom Boost,” cites Realogics Sotheby’s International Realty broker Carrie DeBuys, and describes that in especially sought-after neighborhoods, such as “Queen Anne, Madison Park, Washington Park and Capitol Hill,” increased demand and zoning requirements mean mostly single-family residential homes are available; and with low inventory, competitive offers are a requirement. DeBuys told WSJ  that because homes are going so quickly, “to make offers more competitive, many buyers are adding escalation clauses to their bids, which allows real-estate agents to automatically renegotiate to a higher price on their behalf if the bidding escalates,” a tactic DeBuys has found quite successful in Seattle’s current market.