Many homeowners and savvy investors are turning to rental vacation properties as a means of generating extra income. For someone that hasn’t yet broken into the rental market, the idea of investing can feel daunting: What area should I buy in? What if I don’t make the right purchase? How do I even begin? A recent Forbes article answered one of those questions, in a recent outline of the top five places to own a vacation rental property in 2019.
The data for 2018 is in and Realogics Sotheby’s International Realty has put together a comprehensive market report that covers eight key counties and 31 regional markets around the Puget Sound. Below, I’ve outlined trends from Kitsap County, Bainbridge Island and Poulsbo for you to consider as we move into the busiest sales season of the year in our real estate market.
While many areas around the Puget Sound have experienced inventory increases over the past few months, the number of homes for sale on Bainbridge Island remains tight as there were just 1.8 months of inventory as of Q2-2018. With a lack of options and many buyers searching for Island homes, the process can feel daunting—here are seven tips that will help you navigate your home search.