Tuesday, August 29, 2006

Inventories are Jumping through the Roof in Tacoma

I am a big believer in numbers, that is why I went into real estate in the first place.

In the Tacoma Housing Market, inventories have jumped from less than 250 Single Family Homes on the Market in May to over 1300 to date.

Not only that the number of Single Family Homes sold in August in Tacoma was a little over 260, compared to over 520 for the month of August in 2005.

Definitely swinging to a buyer's market. Don't let anyone pressure you into buying. There are plenty of properties available. And yes, while there are some still properties coming under contract in less than a week, that is the anomaly not the norm now.

I am firmly convinced that you should view every property as an investment unless you know for 100% certainty that you are going to live there until you die. Taking the emotional connection out of the picture, take a step back and get the best deal you can in the area you want. If your agent is not providing this kind of service and advice, find another.

1 comment:

Crashcadia said...

Just found this blog.
I will be adding it to my list of favorites.

I have been tracking the housing bubble for a few years now and I am awaiting the crash and actually looking forward to it. If things do not correct soon, we will only be in for an even greater fall.

I am also interested in any information others may have on the new Cascadia project. With such a large number of homes being built on Tacoma’s doorstep, the oversupply of homes will be rampant.

Any information or opinions on Cascadia would be appreciated.