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Tacoma, WA Real Estate News

By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
    Yesterday through the magic of technology I found out that I have looked at 169 houses in Tacoma and South Pierce County in the past 6 months.  That's a lot of houses!  Since the majority of my buyers right now are looking for houses under $200,000, the majority of those houses were Foreclosed Homes, owned by a bank.   Some of these houses are in terrible shape.  I've seen missing windows, spoiled flooring, smells that rivaled any horrible smell I'd ever smelled in my life, etc.  Others houses simply needed someone to move in and love them.   Because they are usually sold at rock bottom prices, it's in every seller and homeowners best interest to have as few of these homes on the market as possible.  If you or someone you know would like a list of foreclosed houses or condos in any ...
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By Brett Tousley, Tri Cities Real Estate | (509) 420-0013
(Keller Williams Realty)
Hey, while I was wandering around downtown Tacoma today I ran across this interesting bit of history. Ever wonder why it is that we all stand and remove our caps for the star spangled banner?  Of course we do it out of reverence for our country, but I actually stumbled across the man that is responsible for the custom while roaming the streets of Tacoma. It seems that Rossell G O'Brien actually started the custom in 1893 right here in the Bostwick building in Tacoma WA.  This info was new to me, so upon returning home I did some research on the web and found that Rossell was quite an accomplished man. Not only was he a Brigadier General, responsible for the custom of standing and removing your hat during the National Anthem, but he was also the mayor of Olympia for a short time. Just go...
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By Brett Tousley, Tri Cities Real Estate | (509) 420-0013
(Keller Williams Realty)
I was out touring several Tacoma condos on a foggy, gray morning here in the city of destiny.  Wading through the months of inventory available to find the "deals" has become a weekly exercise that I've really started to enjoy.  With the high end finishes, 10 year tax abatement, lower prices, cheap rates and so much to do now in the city, Tacoma condos are starting to look like a good buy again.  Something I've learned to really focus on are the resales in the newer buildings.  Great deals can be had if you know where to look. I ended my tour at the Marcato to meet with a prospective listing client.  Unlike much of the higher end condos available in Tacoma, the Marcato seems to be moving pretty well.  Units are priced more reasonably than some of the other buildings, but offer the same ...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
  The Walker According to Jake over at Tacoma Untapped, the Walker Condos have shown up for rent on Craigslist.  Last time I checked there were more than 130 condos on the market downtown, most of them new construction.   This is good news for anyone trying to sell or planning to list anytime soon.  Since only 25 out of those 130+ condos listed in downtown Tacoma sold last year, we are going to need rent or sell quite a few more before the downtown condo market can be considered anything close to resembling "balanced". Also reported on Exit133. For More Downtown Tacoma Real Estate Information visit Get Real Tacoma.      
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By Anna Matsunaga, Seller specialist, Certified Negotiation Expert
(Team Momentum Keller Williams Realty Tacoma)
When we lived in Illinois, one of the very hardest things was the fact that we just could NOT get certain foods.  I worked in a grocery store @ the time, in the Deli and of course since we were just about an hour out of Chicago we could get the very best in deli meats and cheeses and the best Kebalsa ever ( ok I KNOW that is spelled wrong!)  However I could not find certain things we had come to take for granted in Washington and Oregon.   After moving back to WA I got more and more into healthy eating and found that some things are hard to find even here in WA!  This is the reason I am SO glad we have 2 Marlene's Market and Deli's nearby,  one in Tacoma, ( 2938 S. 38th Street) and one in Federal Way (2565 S. Gateway Center).                                         I think what is best ...
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By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
The Federal Reserve's plan to lower interest rates is working... With interest rates again below 5.00% and lenders getting backed up,  I thought I would pass along a few tips to make the refinance process a little less stressful.  1. Get an accurate balance of any mortgage liens on your property- 1st, 2nd mortgage's or HELOC's, or other items you may have purchased that are liens on your property ie. new windows, furnace.  If you plan to keep your HELOC (home equity line of credit) open, contact that lender and ask for their "subordination requirements" and get a contact number for that department. 2. Pull together all the necessary items you may need in order to speed up the application process:    A.  2008 & 2007 W2 Forms    B.  Paystubs - Covering a 30 day period'    C.  1-2 Months b...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
Tacoma Public Utilities is offering a series of workshops for improving your home.  The first is tomorrow night and has to do with working with what you've got as far as your heating sytem goes: Make the Most of Your Heating System Thursday, January 15th 7-8:30pm 3628 South 35th St (38th & Union) Whether you have a forced air system, baseboard heaters, or forced air wall units, learn to make the most of your heating system and still be energy efficient. You can get more information on their website or by calling 253-502-8377.   For more Tacoma Real Estate info visit Get Real Tacoma.
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By Dan Bradstreet, Real Estate Agent - Vancouver WA
(ReMax equity group)
AngelouEconomics, the largest independent economic development consulting firm in the U.S. was commissioned by the City of Tacoma's Community and Economic Development Department to present a economic analyst of Downtown Tacoma WA. The proposed plan #1 on the list; Become a premier location for primary target sectors. It appears Tacoma is moving forward in today's struggling economy.   Tacoma Wa Property
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
As of today, there are 1,987 houses and condos for sale in Tacoma.  The median size is 3 bedrooms, 2 bathrooms 1,561 square feet.  The median list price is $239,950. There are currently 309 Pending Sales in Tacoma, giving us a city wide sales ratio of 15%.  A balanced market is around 50%.  Less than 50% is a buyers market.   The median listed price (not what they sold for mind you, we won’t know that until they close) of houses that are pending is $209,950. That means houses that are getting offers are 30k lower than the median price.  The buyers that are out there are looking for deals. When we look at what sold in the past 9 days, it’s easy to see why they’re trying to wheel and deal.  This week 12 houses and 1 condo sold in Tacoma.  Of the 12 houses, 8 of them were BANK OWNED FOREC...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
UPDATE:  Thanks to Timothy for this link. REET no longer applies to short sales. THANK GOODNESS! Washington Realtors Association sent out a notice to it's members this morning, saying that "The Department of Revenue (DOR) recently sent a letter to the Escrow Association explaining its position that in short sales, the Real Estate Excise Tax (REET) applies not only to the selling price of a home, but also any debt forgiven by the seller's lender."  Of course, this is total crap.  Why should you pay taxes on a price the market wouldn't bear out?  NWMLS broke it down like this: For example, if a seller owes $350,000 on its mortgage, the property sells for $300,000, and the lender agrees to forgive the remaining $50,000 in debt (i.e. the seller will not be held liable for the $50,000 diffe...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
I'm running out of clever preambles, so let's kick off part 3 of Tacoma Sales Stastics 2008.  For this round, we're looking at 98403, for the purposes of this post, we're going to call this Stadium, even though it covers North Slope and some Old Town, because calling it StadiOldSlope is a compromise no one is interested in making.  This part of town has seen 30 Condos sell in 2008.  10 of those condos sold for less than 200k.  Sold prices ranged from a $100,000 for a little studio, up to $866,018 for a 3 bedroom, 2 bath,  2,290 square foot palace in the sky over at The Ansonia.  The average condo to sell in Stadium is a 2 bedroom, with a median price of $227,475, (the average is $338,931 but with these kinds of ranges I think the median price is more helpful). As for houses, 55 houses ...
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By Anna Matsunaga, Seller specialist, Certified Negotiation Expert
(Team Momentum Keller Williams Realty Tacoma)
Since my mid- twenties when I began searching for answers so that I could be healthier I have invested quite a bit of time researching natural ways to be healthier.  This intensified of course when my first child was born ( a big responsibility and I wanted to make good decisions!) and even more when I became a Childbirth Educator and had my eyes opened to many things I had not before and felt the need to be sure my clients were well informed.   Changes I made included diet, exercize and avoidance of many things that I had not even known were harmful before.  I also learned more about alternative health practicioners and practices and began to patronize them and learn more about them as well.   I thought that I knew about most of them until this last summer.  Funny thing is, the new thi...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
For the second installment in the neighborhood sales statistics, we will visit 98405.  Loosely translated here as "Hilltop" this includes areas that many consider downtown, as well as the McCarver Neighborhood.   I can say hands down that this is the neighborhood that the majority of my first time home buyers are asking about these days. It's affordable, convenient, and cool. Downtown gets all the attention, but 98405 has been a real workout this year, churning out lots of affordable sales. In 2008 there were 225 houses that sold in 98405.  They ranged in price from $55,300 - $469,000.  The average sale price was $212,731, 3 bedrooms with 1,586 square feet.  Currently, there are 135 houses listed in 98405.  They are priced from $89,900 - $448,000.   As for condos, there were 30 sold in...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
Sold Signs   So I promised earlier this week that I would break down the 2008 Sales Statistics for Homes & Condos in the City of Tacoma neighborhood by neighborhood.   I know folks around here are pretty sensitive about where neighborhood lines are drawn.  I swear I almost heard someone go to blows over whether the were "Stadium" or "North Slope".  God forbid you start thediscussion of "North End" or "Near North End".  I've decided that for the purposes of these statistics we are going to go by zip code, thereby sparing me the need to defend my definition of neighborhoods.  I just hate conflict... So today we will start with Downtown Tacoma, in the form of zip code 98402.   There aren't a ton of single family homes in 98402, but 4 houses sold.  They ranged in price from $87,600 - $276,...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
One of the best things about living in the City of Tacoma is that you are close to the action on a night like New Years Eve.  The Weekly Volcano's SPEW Blog has put out a list of the best places to Party tonight.  You can find THIS Realtor at The Mix on 7th & St Helens, but from the look of this list there are lots of great places to celebrate. Don't forget to designate or Cab it home, and have a very Happy New Year!
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By Kevin Tinsley, Washington State Tacoma Seattle VA Home Loans
(VAHomeLoans.com)
Press Release Release Date: December 30, 2008 For immediate release The Federal Reserve on Tuesday announced that it expects to begin operations in early January under the previously announced program to purchase mortgage-backed securities (MBS) and that it has selected private investment managers to act as its agents in implementing the program. Under the MBS purchase program, the Federal Reserve will purchase MBS backed by Fannie Mae, Freddie Mac, and Ginnie Mae; the program is being established to support the mortgage and housing markets and to foster improved conditions in financial markets more generally. Further information regarding the structure and operation of the MBS purchase program is provided in the attached set of Frequently Asked Questions (FAQs).   What is the policy ob...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
The New Tribune is reporting that the City of Tacoma has the opportunity to claim 2.9 Million of the 3.9 Billion Dollar Housing Bill congress passed in July. "Pierce County is eligible for about $4.4 million, and the City of Tacoma is eligible for about $2.9 million. Both amounts are the highest in the state, because both areas have the highest foreclosure rates. Local officials acknowledge the program’s limitations. “Three million dollars in the housing market is a grain of sand,” said Rick Teasley, housing division manager for the City of Tacoma. “At the very best, we can hope to help maybe 100 to 200 home buyers get into houses.” Everyone is going to have lots of opinions about how this money can best be used, the problem is (Like Rick Teasley says above) 2.9 million is not a ton of...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
This might sound a little strange, but sometimes I get a little attached to certain properties.  That happened with Unit #401 at Cliff Street Lofts.  A 1 Bedroom, 1 Bath Loft with 14 Foot Ceilings.   What I loved most was that it was on the corner, shaped like and “L”  so there was TONS of light and a really open feel.   The angle meant you had a view of both the port AND the mountain.  I showed it a few times but did not have a client that clicked with it the way I did. It sold for $174,000 (Agent was Matt Hume at Windermere) and closed today.  I hope the new buyer loves it as much as I did!   Here are some more pictures of it's awesomeness... For more information on the Downtown Tacoma Real Estate Market visit Get Real Tacoma.
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By Anna Matsunaga, Seller specialist, Certified Negotiation Expert
(Team Momentum Keller Williams Realty Tacoma)
It's so so funny, when it is a "Seller's market"  Sellers do not even hesitate to go ahead and sell if there are ANY compelling reasons to do so and in many cases their reason it to sell and buy a nicer or bigger house.   Fast forward to a "Buyer's market" .  This is when buyers should be buying right?  But instead it often becomes a time of great uncertainty for buyers.  Why?  For one thing many of them want to "Time" the market.  The problem is....no one really can.  If this were possible, those of us who worked in the industry would be automatically wealthly just from our intimate knowledge of the market and this is certainly not true.  No one can know when the "bottom" is except in retrospect and no one knows where the top is either.  Perfect timing in Real estate is only luck.  Goo...
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By Marguerite Giguere, Specializing in Tacoma, WA
(Windermere Professional Partners)
Everyone loves a good year end wrap-up. Me included! Here are the sales stats for The City of Tacoma for 2008:  Homes Sold in Tacoma in 2008: 2, 237 Condos Sold in Tacoma in 2008: 305 Average Sales Price for Tacoma Houses: $249,512 Average Sales Price for Tacoma Condos: $193,990 Average Bedrooms/Sq Ftg of Sold Tacoma Houses: 3 Beds/ 1722 sqft Average Bedrooms/Sq Ftg of Sold Tacoma Condos: 2 Beds/ 1202 sqft Average Days on the Market (Sold Houses): 83* Average Days on the Market (Sold Condos): 86*   These statistics are for all houses in Tacoma. Since the sales prices ranged in price from less than 100k to over 1.5 Million, they're really pretty useless for judging how your home is doing. For this reason, I will be profiling sales data by neighborhood over the next week, one post at a t...
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