Where are the sellers? Forget where are the deals, just give me a property that is even for sale. There has not been a new apartment building for sale in well over a month despite buyers everywhere. It as if people stopped retiring, passing away, moving up (via exchange), or simply taking massive profits.
Seattle remains an awesome market with nothing but great signs of success for the future. Still, couldn’t a guy sell a 4 CAP in Seattle today and trade into a 6 CAP in a relatively close market like Olympia? Especially if the owner was older and seeking cash flow as a more important criteria over appreciation.
Still…no one is selling!