Congrats to Randi who gets us some good Real Estate press in the current issue of Business Week. In the article by Venessa Wong, Randi Brazen was consulted to contribute her expertise to the report.
Most Expensive U.S. Small Town: Sagaponack, N.Y. was the headline. As reported in this article, Hunt’s Point here in King County comes in at #3, with the home median sale price factoring in at $2,930,863. Randi’s contribution:
In Hunts Point, Wash., the country’s third-most expensive small town, a property’s average time in the market jumped to 149 days, from 83 days before the recession, estimates Randi Brazen, co-owner of Brazen Sotheby’s International Realty in Bellevue, Wash. While home prices in the area have fallen more than 20% in some cases, Brazen says they typically hold their value in the long term because few are available in a region that remains attractive to the rich.
Saying that 2009 was “nerve-racking for everyone,” Brazen expects the real estate market in Hunts Point to rebound as employment opportunities in nearby Seattle improve. “That doesn’t mean prices will snap back up, but it will stop the downward spiral we’ve seen in the past year and a half,” she says.
