Vancouver B.C. just passed a 15% tax on foreign investors, that’s $150,000 in taxes on a million dollar home. That’s pushing international buyers into the Seattle market fast, many of those coming from China.
In Renton Washington, for a 90-day period ending October 5th, 2016, 22% of offers were all cash, that’s up 18% from a year ago for the same time period. In Maple Valley, we saw 9% of all offers were cash in 2015, up to 10% in 2016 for the same 90-period.
With many would-be buyers holding out for lower prices, this kind of governmental policy may be worth noting. #JanaSellsHomes #InternationalHomeBuyers