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What the West Seattle Bridge closure means for home values and rental rates

We don’t yet know the exact effects the West Seattle Bridge will have on home price and rent values in West Seattle, but time will tell if it has a dramatic impact. Since we are in the midst of a partial city shut down due to the COVID-19 pandemic, traffic congestion is hard to gauge at this time. However, those that have lived through temporary bridge closures in the past understand the drastic impact a two-year closure could have on the area.

Currently, property tax assessments are being held up as the King County Assessor gathers information on pricing drops in the area. They are also looking at tax relief for commercial property owners in the area.

At Sound Point Property Management, we will continue to follow the impacts of the West Seattle Bridge closure and share them here. We just don’t know what the long term effects are but know that this major shutdown will most likely drive changes to both property values and rental rates in the area.

Do you own a rental property in West Seattle? We’d be happy to chat with you. Please contact us.

Resources:

West Seattle homeowners worry bridge closure will hurt property values

How will the West Seattle Bridge closure impact the housing market? 3 experts weigh in

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Jill McCormick

My goal is to make your real estate experience as pleasant, and profitable as possible. I accomplish this by anticipating your needs, applying my experience to your specific situation, paying attention to all the details of the transaction to ensure a smooth closing, and follow through on all items that are important to you to ensure that your needs are met.