Tuesday’s U.S. Census results revealed that the state of Washington has gained nearly 830,000 residents in the past 10 years. The results have both earned us a 10th congressional seat and the title of 13th most populous state in the U.S. We grew faster than 2/3 of the nation’s states, yet our growth rate per decade has decreased over the past 70 years. The 14% population increase makes us a state comprised of 6,724,540 people. This increase in population probably protected our real estate market from a an even worse downturn – yes it could have been worse. Hopefully, if our population continues to increase (which it is projected to do) we will see the real estate market improving. Not only could home prices stabilize, but we could see an increase in rental demand which means good things for landlords and property managers. Hopefully, these statistics will result in some positive changes in our local economy.
The Seattle Times published an article yesterday on the FBI’s crime nation-wide that were released the same day. A national trend was a decrease in crime rates, but not in Seattle. Although violent crime was down in the city, property crime apparently rose in the beginning of this year. Property crime was up 5.5% from 2009’s statistics in the first 6 months of the year. Statistics indicate that there were 17,223 property crimes reported in the first half including burglary, larceny-theft and auto theft. Although the national decrease is a good thing, if you are a property owner in the Seattle area you many want to take extra precautions to help prevent crime in the future.
Ewing and Clark, Inc. President Tom Graff wrote an article about Seattle’s commercial real estate market which was published in the Daily Journal of Commerce today. Graff, who has nearly 22 years of experience, specializes in investment and retail properties. The article, which can be found in the Real Estate Marketplace Northwest section of the DJC, is titled “Retailed Drives Successful Mixed-Use Projects”. The article details the keys to having a successful retail businesses including where and how. Graff explains each strategy for readers to easily understand the tools for success. See the article on website and prepare to take notes!