An good article outlining the current state of the Tacoma Real Estate Market...

Forbes.com article 9/22/06

Check out their 10 year prediction for Seattle, though! I think Seattle / Tacoma is a great place to live and not in the same shape as other metro areas but 60% gains over the next 10 years is a little optimistic, I believe.

Real Estate Market Data

where and who people are getting their data. I just look at the MLS and interpret the data how I feel comfortable with. A realtor can provide you with just about any information you desire, of course it helps if you are a buyer or seller working with them, laugh.

Above are a couple of scans of an Area Market Survery hot from the press (generated from the MLS, you can even see the links at the bottom). I am mainly posting this entry for the prolific debaters from both sides of the argument on the housing forum of Craigslist. For better resolution click on the image then expand it. The first pic is all homes sold in seattle from May 18, 2006 to June 18, 2006. The second is from August 18, 2005 to September 18, 2005. The third is August 18, 2006, to September 18, 2006. Don't ask me why the aren't in order, Blogger put them that way.

Tacoma Housing Market sizzle now a simmer..

All the local papers published articles about the cooling Seattle and Tacoma Real Estate Market:

Tacoma News Tribune:
Housing sizzle now a simmer - 09/13/2006

Seattle Times:
Area's home prices idling as buyers take more time - 09/13/2006

Seattle PI
Home buying 'frenzy' may be leveling off - 09/13/2006

Overall I agree with the information published in these articles, they are based on hard numbers that I have confirmed myself through the MLS. We are in a buyer's market, good deals will still move, over priced or undesirable properties will sit - for a very long time.

Seattle Home Prices - A Local Market Debate

Pretty good article in the Seattle Times regarding the local Real Estate market. There is a heated debate whether Seattle is a different market. There are good points on each side.

Home prices' long rise: Is the end near? - 09/03/06

But take this advice because it will serve you well in a buyer's or seller's market. It is a proven principle in real estate and you won't go wrong.

If you are looking to buy. Buy a house you love (if is it your home), but most important buy one that you can afford on a fixed rate mortgage. Your payments will stay the same and you will own your home in thirty years.

The housing market has gotten out of hand because of speculation, investing, and new mortgage programs. Variable rate mortgages make up a very large part of the industry, see the chart below:

http://www.businessweek.com/common_ssi/map_of_misery.htm

Eek, watch out Cali.

I am believer of real estate and do believe in investing in the market. Why? Because of leverage.

You can put 20% down on a property and leverage the rest. You can't do that in the stock market, each dollar invested in your own.

The rental market looks good right now because it hasn't corrected itself yet. Dupre and Scott Apartment Advisors interview thousands of property owners and managers in the Puget Sound region. There are predicting a 15% increase in gross rent over the next two years.

Unfortunately, both buying and renting is becoming more expensive.

Dan
danielh@gibraltarusa.com

Properties are Still Selling in Seattle

You can walk up to any water cooler or any group of people and immediately start a debate on the housing market. I've found, however, this is mostly an emotional debate based loosely on impressions or advice from this guy or that gal. Hardly are hard numbers involved. Now, numbers can be manipulated to show any number of things rarely show the whole picture. However, I like to look at the raw numbers and determine for myself what I think they mean. And I will post these raw numbers on this blog. If you have any market analysis requests in the Tacoma or Seattle area email me and I will see what I can do.

So without further adieu:

Seattle is one of those highly discussed area, partially because it appears the market is not slowing down much. I attribute this to a growing downtown commercial and residential core, a lack of easy expansion due to geography, and the commute.

The following numbers are based on Single Family Homes and Condos.

The number of buyers is constant, which is an indication of a strong market. The inventories, or number of active listings, are rising, doubling actually each month. The next couple of months should be interesting. The rule of thumb is if the inventory is less than 3 months the number of properties sold per month then it is a seller's market. If it is more than 6 months then it is a buyer's market.

Interestingly enough the average days on the market and the price has stayed the same. Homes and Condos are selling in about 30 days and the average price is 475k.

Stay tuned.