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The Market Today
Tight space, costly money
Conditions in Snohomish County, Western Washington, and nationally call for a cautious approach, with deep value as the first concern.
What we are seeing
- Vacancy for retail and multifamily space in the county remains low.
- Residential listings are rising, and commercial listings are sitting for long periods.
- Higher interest rates are creating unease among buyers and sellers.
- The county is short on quality commercial space, from office to retail.
What it means for us
- We expect notable distressed sales, where cash and certainty of closing are king.
- We see a lasting shortage of quality private office and retail space.
- We stay selective. In this market, passing on a deal is a success.
- We underwrite for deep value first, then for community benefit.