Another Way to Look at Tacoma Condos

I have stumbled across Condo Compare a couple of times and feel that it has some merit in terms of a tool to compare Tacoma Condos across neighborhoods. What I really like about the site is that it gives you an idea of the total number of units for sale, not only for that particular Tacoma Condo Project, but for the condo inventory citywide. Although, to be honest, I am not sure how up to date their information is, I will do some research and report back to you on that.

Check out their website: http://www.condocompare.com/WA/Pierce/Tacoma/condo_search.aspx

There are a lot of condos out there. I don't recommend buying a Tacoma condo as an investment, there is too much inventory and the prices are too high. However, if you were in the market for a condo, this will give you some ammunition when it comes to the negotiating table (although the market is definitely in your favor, especially when it comes to Tacoma Condos).

I use Redfin ...

I use Redfin to look at Real Estate lisitings in Seattle and Tacoma. I used to use Windermere (they uploaded new listings the quickest) and John L Scott is nice for some commercial listings (why can't the CBA website have rendered graphic listings over a map???).

I use Redfin due to two facts.

1. I love to see what I might save if I don't use a traditional buyer's agent (I usually end up telling them which listings I want to view anyways, they just have the MLS Key).

2. They have unique features that shows the number of days on Redfin (on the market) and the price chanes to the listings. Not to mention the tax and parcel information that normally I would have to go to Pierce County's Assessor-Treasure site or Tacoma's Government Made Easy site (easily the best tool for an investor in Tacoma).

What is Your Return on Equity?

I have heard the argument many a times, I don't want to sell because I own the property free and clear. That is a wonderful position to be in but not for the reasons you might think. One of the great benefits to owning investment property is the tax deductions. Mortgage interest is a large portion of it but many people over look the asset depreciation. You don't fully utilize all the depreciation you could get as properties increase in value.

The example below is the difference between a current property almost paid off and a new property bought through a tax-deferred exchange of the current property. Most investors will not hold a property for more than 5 or 10 years, here's why: