Real Estate Investments Expected to Rise in Some Washington Areas

Some areas of Washington State, especially those that are not located near a big city, have suffered from lack of real estate investments. However, area analysts believe that most of them will experience improved housing sales and residential investments this year as several infrastructure projects get underway.

There are more buyers of properties in big cities, including homes in Seattle foreclosure listings, compared with smaller areas like Brighton, which has remained outside the radar of most real estate investors and homebuyers. However, the low prices of properties in the area are starting to get homebuyers' attention. The diversity of the neighborhood and developments in light rail transportation are also expected to get more people to settle in Brighton.

Foreclosures in Washington are priced way below their original values, but local prices are even lower in Brighton. According to local realtors, this could be the biggest factor that could tip the balance for homebuyers as Brighton prices have declined at a faster rate than Seattle home prices. In December of last year, the median price of a single family home in the area was $248,800, down by 14.3% compared with December 2009.

According to housing industry analysts, these low prices will likely attract more real estate investments in the coming months. They also stated that the recent launch of a light rail transportation system allows residents to travel easily from Brighton to bigger cities like Seattle, which could prove to be a big plus for the housing market. They also stated that Brighton offers low-income homebuyers the best opportunities to own a house.

Although the low prices of residences in the area, particularly homes under foreclosure lists, is a sign of a less-than healthy housing market condition, local realtors believe that these prices will eventually help the region recover. They stated that the cheap dwellings will attract more buyers, which will result in the expansion of the city's population and will also provide additional consumers to the area.

The more people move in to Brighton, the higher the chances of more real estate investments pouring into the city. Realtors stated that for those who do not wish to buy a home, they might, in turn, find Brighton a great place to rent.