Home Prices in Tacoma’s North End Continue to Climb

Posted on April 20, 2017 at 10:46 am
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Why selling your house in the winter may not be such a bad idea

Redfin recently conducted a study looking at more than 7 million home sales over the course of the past four years to determine what impact, if any, seasonality had on the sales process.  Not surprisingly, the study confirmed that listing your home for sale in the springtime was likely to result in a quicker sale and a higher sale price (see full study here).  What was surprising to some is that listing your home in the wintertime was a close second.

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”

The study goes on to say:

“Buyers [in the winter] often need to move, so they’re much less likely to make a low-ball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”

That’s why we encourage our clients to have their houses ready to go on the market in late January or early February.  However, given the persistent shortage of housing inventory in the North End, we are telling our clients to list now if it makes sense for their schedule.  If you’re thinking about listing your home for sale in the next 6 months, keep in mind that most of your competition will choose to list their homes in the spring. Listing your home this winter could position you more favorably with motivated buyers who don’t have a lot of good inventory from which to choose.

 

 

Mark Pinto is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes.  Click here to e-mail Mark or feel free to give him a call at (253) 318-0923.

 

Posted on December 7, 2016 at 11:54 am
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North End Home Prices Continue to Rise in the 3rd Quarter

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Posted on October 22, 2016 at 10:05 am
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North End Home Prices Continue to Strengthen

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Posted on January 21, 2016 at 11:45 am
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Why is Tacoma a Top 10 Housing Market to Watch in 2016

Tacoma recently ranked as number 10 on Trulia’s top 10 housing markets to watch in 2016, a list that also included cities like Grand Rapids, MI, Charleston, SC and Austin, TX (see the full report here).  Trulia’s rankings were based on a number of different criteria including strong job growth, low vacancy rates and high affordability.  I think high affordability was probably key to Tacoma’s inclusion on the list.  Though some of our buyer clients that are new to the Tacoma housing market have commented that prices here are high compared to where they’re coming from, the Tacoma housing market clearly remains a great value proposition when compared to Seattle where the median home price is more than twice as high.  As the tech industry continues to grow in Seattle, Tacoma will continue to represent a very attractive alternative to call home.  Not surprisingly, we’re seeing more and more folks from Seattle making the move to T-Town.  I think it’s that demand in particular that led to our inclusion on Trulia’s list of hot market’s to watch in the coming year.  To be clear though, Tacoma’s appeal isn’t just about being within commuting distance of Seattle.  For those of us lucky enough to live and work in Tacoma, it actually represents a preferable alternative.  A vibrant, livable small city with a big metropolitan hub nearby to visit when the mood strikes.

 

Mark Pinto is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes.  Click here to e-mail Mark or feel free to give him a call at (253) 318-0923.

 

 

 

 

Posted on December 5, 2015 at 10:17 am
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Census Data Suggests a Shift from King to Pierce County

 

According to an article in the Seattle Times, Gene Balk examined recent census data surrounding an emerging trend that points to a shift from King County to more affordable Pierce county. 

Gene notes, "It's no secret that newcomers are pouring into King County from around the country and the globe.  In fact, we broke a record in 2014 for the number of new arrivals from out of the state, which I wrote about in my last column.  But could we also be witnessing the emergence of a countertrend – that of a growing number of folks fleeing pricey King County and heading south to Pierce?  New data on U.S. counties, released by the Census Bureau on Thursday, hints that this may be the case."  Click here to read Gene's full article.

The reporter's observations certainly support what we as Realtors are seeing here in North Tacoma on a routine basis.  Many of our new buyers are people moving to Tacoma from the Seattle area, and our last four North End listings have sold to folks from Seattle.  So… what does this trend mean?  Well, we're currently seeing an upsurge in prices and a significantly low level of home inventory in North Tacoma. (you can review those trends here).  Thats good news if you currently own a home here, but not such good news if you're in the market to buy this spring.

 

 

Jeff Williams is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes.   Click here to email Jeff or give him a call at 253-303-1135.

 

 

 

 

 

 

Posted on March 28, 2015 at 7:47 am
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The Vintage Y – Home in Tacoma’s Theater District

 

One of the things I love most about selling real estate in downtown Tacoma is introducing clients to the different condominium buildings there – some shiny and new and others tastefully restored.  The Vintage Y at 714 Market Street falls into the tastefully restored category.  Listed on the National Register of Historic Places, the building was designed by prominent local architect George Bullard and built in 1909 to house the Tacoma chapter of the YMCA.  As one of the first chapters in the Pacific Northwest, the Y provided its members with athletic facilities and a robust vocational education program. The YMCA vacated the building on Market Street in 1977, and it was ultimately converted into luxury condominiums dubbed the Vintage Y in 2005. Building amenities include a secure lobby and parking garage, a roof-top deck with barbecue, an outdoor patio, a fitness room and a guest suite.

 

The Vintage Y is located in the heart of Tacoma's historic theater district.  Nearby venues include the Pantages, the Rialto, Theater on the Square and the Tacoma Armory (all managed by the Broadway Center for the Performing Arts) Upcoming Broadway Center events include the Heritage Blues Orchestra at the Rialto, Spectrum Dance Theater at the Armory and The Capitol Steps at the Pantages.  The theater district is also home to the Grand Cinema, which offers an excellent selection of first run independent films.  Corina Bakery conveniently located next to the Grand on Fawcett, is great for a quick bite before or after the movies.  Deanna Bender’s Over the Moon Café on Opera Alley is one of my favorites for a casual lunch or special dinner.  The service is great, the décor is eclectic and the food’s delicious.  When I’m in the market for some new household furnishings, I like Giraffe and Dwelling, both on St. Helens.

 

Another great thing about the Vintage Y is its proximity to 27-acre Wright Park – a jewel of a green space that includes an arboretum, a playground, a running path and a pond complete with a bridge and waterside benches.  If you haven’t checked out the Vintage Y, the Theater District or Wright Park lately, you should.  Well worth the visit.  For more information about living at the Vintage Y and properties currently available for purchase, visit www.401vintagey.com.

 

 

 

 

Mark Pinto is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes.  Click here to e-mail Mark or feel free to give him a call at (253) 318-0923.

 

 

 

Posted on September 17, 2014 at 9:23 am
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Top 5 Reasons to Live In Proctor

The Proctor District is one of  North Tacoma’s most popular neighborhoods.  Historic homes, great public schools, tree lined streets, views of the water and a charming central business district are just a few of the things that make this neighborhood so special.  For those who aren’t familiar with Proctor (and for those who are already fans), I thought I’d share some of my favorite things about the place we call home.

 

Metropolitan Market – Met Market is the undeniable anchor of the Proctor District.  This upscale grocery store caters to a sophisticated palate, with many locally sourced products, an outstanding cheese department and a wine steward.  Met Market could feel some heat if Whole Foods delivers on their promise to open a store in University Place, but the neighborhood feel at the Met will always be hard to beat.

 

 

 

Chalet Bowl – This family owned and operated 12-lane bowling alley “strikes” a wonderful balance between old school Americana and new school hip.  The lanes are well maintained, the staff is extremely friendly and the weekly bargain specials are hard to resist.  Two words.  Glow Bowling.

 

 

 

 

 

Wheelock Public Library – This local library has been serving the community since 1927 and is much used and much loved by children and adults alike.  An iconic bronze statue of Tacoma pioneer and early businessman Allen Mason located adjacent to the library is often whimsically decorated to befit the season.

 

 

 

Puget Park – Located at the corner of Proctor and N. 31st Street, Puget Park was one of the first green spaces to be donated to the city of Tacoma for public use in 1888.  The park features an updated play area and a picnic-perfect grassy knoll.  If you’re feeling adventurous, you can follow a trail down through Puget Gulch to the waterfront for a wilderness experience right in the heart of the city.

 

 

 

Blue Mouse Theater – Originally opened in 1923 and now listed on the National Register of Historic Places, the Blue Mouse is Washington State’s oldest continuously operating movie theater.  A group of local activists and preservationists purchased and restored the theater in 1993.  Dale Chihuly reportedly designed the blue neon mice that grace the marquis.

 

 

 

Mark Pinto is a top-producing Realtor with Windermere in Tacoma specializing in the purchase and sale of historic and luxury homes.  Click here to e-mail Mark or feel free to give him a call at (253) 318-0923.

 

 

 

Posted on February 17, 2014 at 12:04 pm
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North Tacoma Home Prices End 2013 Just Above 2012

 
As we start the New Year, we thought it might be a good idea to take a quick look back at what happened to the housing market in Tacoma’s North End in 2013 and to make a few predictions about what to expect in 2014.  The market in Tacoma’s North End essentially took two steps forward and one step back in 2013.

The median sales price in north end zip codes 98403, 98406 and 98407 jumped from $212,000 in January of 2013 to $285,000 in July (a 34% increase).  However, after the 4th of July, the market began to cool off. primarily due to buyer hesitancy given multiple offers on properties for sale in the spring and an increase in interest rates for home mortgages.  After the slow down the median sale price had dropped to $222,000 by November. 

Some neighborhoods held their gains better than others, most notably zip code 98406, but the current market as a whole looks much as it did at this time last year with respect to home values and sales activity.  That’s not altogether a bad thing.  A steady, measured recovery is more likely to be a sustained recovery.

Lawrence Yun, chief economist for the National Association of Realtors, predicts that strong job growth in 2014 will continue to drive the housing recovery (see the interview here).  The foreclosure crisis is expected to draw to a close, and home values will continue to rise, albeit at a slower pace than they did in early 2013.  Most pundits agree that mortgage interest rates, currently hovering around 4.5%, will top 5% by the end of 2014.  With housing values and mortgage interest rates on the rise, housing affordability is admittedly beginning to decline.  That means it could become more difficult for first time home buyers to enter the market, which could temper the recovery in some areas.  The good news is that according to Zillow, an online real estate housing database,  the Seattle metro area is predicted to be one of the hottest housing markets in the country in 2014,

Mark Pinto is a top producing Realtor with Windermere specializing in historic and luxury homes located in Tacoma, Lakewood and Gig Harbor.  For further information contact Mark at markpinto@windermere.com.

 

Posted on January 6, 2014 at 4:14 pm
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