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).
Monday, March 31, 2008
Another Way to Look at Tacoma Condos
Saturday, March 29, 2008
Tacoma Condo Map
A couple of years ago, I started reading Exit 133, a local Tacoma blog that is about Tacoma. It's about Real Estate, Politics, the Arts, Urban Development, and the interests of Tacoma readers. Of course, I was interested in the Tacoma Real Estate Market.
One of the more interesting posts, I remeber, was a Google map superimposed with new Tacoma condo developments. You can see the original overlay here. They had a scant pickup of interest and some revision in late 2006 as seen here.
I think it would be fascinating to take this idea and create a heat chart (ala Tulia) and utilize some of the functionality seen on the Tacoma Condo Map, not only detailing locations and websites, but also days on the market, and sales prices.
Who knows maybe we could inject a little life in the Tacoma condo market and get some of these stale units moving and reduce the Tacoma condo inventory. Even if it means a loss for the developers.
Who's with me? Anyone? Anyone?
Tuesday, March 25, 2008
Home Prices Plunge a Record Breaking 8.2%
The National Association of Realtors recently reported the median price of homes sold during the month fell 8.2% to $195,900 from $213,500 a year earlier - the largest year-over-year price drop on record. Before the start of the current housing slump, it had been 11 years since prices declined, when compared with the same period a year earlier. Read the full artice at CNNMoney.com.
Although home sales rose modestly nationwide, home sales still declined in the Western region of the United States. The NAR and housing experts still try to paint a hopeful picture, but as lending practices tighten and foreclosures increase along with rising gas and food prices combined with a weak dollar, I think we haven't seen the worst of it yet. Hold on to your hats, we are in for a bumpy ride.