Traveling throughout Asia the last several years, many foreign tourists are discovering the Pacific rim region. Jesse Tam, welcomes those who want to learn about EB5 opportunities, projects or real estate. Asian tourists and investors have gone to San Francisco, New York, Florida and recently, Bellevue and Seattle are on the list for real estate deals for future development. MPI can provide those serves to clients and institutions. The importance of education, housing, livability and business start-up for entrepreneurs are factors for newcomers to Washington state. We are in the age of internet and technology. The pacific region presents a great place for expansion into this market with Google, Expedia, Amazon, Microsoft and others competing to grow.
Driving along the freeways of Interstate 5, Seattle, Bellevue downtown areas; you will notice the construction cranes for new high-rise office towers, hotels, condos and shopping. Majority of the projects are from overseas EB5 investments and groups from outside the local area. Newcomers are purchasing homes on the east side Bellevue area, where their children will attend schools and enjoy the outdoor living. Real estate knowledge about the current market and economic trend are valuable in understanding clients needs.
The housing market has created a buying frenzy for some recent purchasers with bidding over asking prices, waving all inspections and cash deals. The first quarter housing market of 2015 shows an all time low for listings on the market in our area. Home buyers are pushing up sales and prices and will continue as rent increases.