After all the support our team has been given, we want to make sure you know about our Hauer VIP program. As a token of our appreciation, those who have referred us or have done business with us can become VIP members.
Why should you join the program? We want to spoil you, and we do so with events and giveaways such as:
Crock-pot packages
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We want to spoil you.
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If you’re not already a member, let us know by emailing hauersupport@fivedoors.com. From there, you’ll begin receiving notifications about our upcoming VIP events. The only qualifications are that you have either referred someone to us or you have done business with us before.
We look forward to seeing you become one of our VIPs. Thank you for being a supporter of Hauer Real Estate Group.
A good rule of thumb is to plan a 5% increase in rent every year. If you have great tenants that keep your property in amazing condition, it does bear consideration; is it worth it to you to raise the rent and risk having a less-than-stellar, long-term tenant? There are also costs associated with having vacant properties.
As you can see in the graph in the video above at the 1:00 mark, the trajectory of rents since 1988 has gone consistently upward. Very seldom have we seen dips in rent. Of course, one of the benefits of buying a home is being able to avoid the consistent rise in rental rates.
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I recommend setting the appropriate expectation with your clients regarding your yearly rent increase to keep up with the costs of rising insurance and tax rates.
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Ultimately, I recommend setting the appropriate expectation with your clients regarding your yearly rent increase to keep up with the costs of rising insurance and tax rates; this measure will make sure that your margin isn’t shrinking as those costs go up.
If you have any further questions, don’t hesitate to reach out to us. That’s what we’re here for.
For part two of my latest Pierce County market report, you’ll see the latest statistics from Steilacoom, Lakewood, Southeast Tacoma, South Tacoma, Parkland, Fife, Puyallup, Lake Tapps, Roy, Graham, and Spanaway.
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Here is the second part of my area-by-area Pierce County August market report. As with the first part, I’ve attached timestamps of the video above so you can jump ahead to your specific community:
1:00 (Lakewood): The likelihood of sellers getting their home sold dropped from 114% to 61.9% compared to the previous month. Year over year, the median sale price increased 16.5%, inventory rose 11.9%, and sales increased 4.5%.
1:45 (Steilacoom): The likelihood of sellers getting their home sold dropped from 114% to 100% compared to the previous month. Year over year, the median sale price increased 21.3%, inventory rose 15.7%, and sales increased 31%.
2:51 (South Tacoma): The likelihood of sellers getting their home sold dropped from 209% to 97.5% compared to the previous month. Year over year, the median sale price increased 15.2%, inventory dropped 12.9%, and sales decreased 15%.
3:45 (Southeast Tacoma): The likelihood of sellers getting their home sold dropped from 214% to 113% compared to the previous month. Year over year, the median sale price increased 13%, inventory dropped 9.2%, and sales decreased 8.2%
4:29 (Parkland): The likelihood of sellers getting their home sold dropped from 120% to 90.4% compared to the previous month. Year over year, the median sale price increased 27%, inventory didn’t change at all, and sales increased 37%.
5:20 (Fife): The likelihood of sellers getting their home sold dropped from 110% to 50.4% compared to the previous month. Year over year, the median sale price increased 30.3%, inventory dropped 4%, and sales increased 1.7%.
6:03 (Puyallup): The likelihood of sellers getting their home sold dropped from 92% to 58.6% compared to the previous month. Year over year, the median sale price increased just over 18%, inventory rose 9.7%, and sales decreased 6.7%.
6:45 (Spanaway): The likelihood of sellers getting their home sold dropped from 222% to 99% compared to the previous month. Year over year, the median sale price increased 15.2%, inventory dropped 21%, and sales decreased 17.5%.
7:23 (Lake Tapps): The likelihood of sellers getting their home sold dropped from 102% to 59.7% compared to the previous month. Year over year, the median sale price increased 24.2%, inventory dropped 16%, and sales increased 9.3%.
8:01 (Roy): The likelihood of sellers getting their home sold dropped from 73% to 52% compared to the previous month. Year over year, the median sale price increased 27.5%, inventory rose 14.5%, and sales increased 22.2%.
8:47 (Graham): The likelihood of sellers getting their home sold dropped from 90.5% to 54.6% compared to the previous month. Year over year, the median sale price increased 26.7%, inventory rose 1.7%, and sales increased 14%.
If you have any questions about your specific market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.
For part one of my latest Pierce County market report, you’ll see the latest statistics from Gig Harbor, North Tacoma, Central Tacoma, University Place and Fircrest, and Browns Point.
Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale.
Here is the first part of my area-by-area Pierce County August market report, with all the most important statistics you need to know. I’ve attached timestamps of the video above so you can jump ahead to your specific community:
0:48 (Gig Harbor): The likelihood of sellers getting their homes sold dropped compared to the previous month to 43.4%. Year over year, the median sale price increased 21.7% to $530,000, inventory dropped 24%, and sales decreased 5.3%.
1:46 (North Tacoma): The likelihood of sellers getting their homes sold dropped from 124% to 89% compared to the previous month. Year over year, the median sale price increased 21.9%, inventory dropped 19%, and sales decreased 20%.
2:45 (Central Tacoma): The likelihood of sellers getting their homes sold dropped from 326% to 79.5% compared to the previous month. Year over year, the median sale price decreased 20.3%, inventory rose 2.6%, and sales decreased 34%.
3:31 (University Place and Fircrest): The likelihood of sellers getting their homes sold increased from 83.6% to 90% compared to the previous month. Year over year, the median sale price increased 21.3%, inventory dropped almost 26%, and sales decreased 1.4%.
4:27 (Browns Point): The likelihood of sellers getting their homes sold dropped from 150% to 71.4% compared to the previous month. Year over year, the median sale price increased 8%, inventory dropped 35.5%, and sales increased 9.4%.
If your area wasn’t listed, be sure to check out part two of this market update.
If you have any questions about your specific market or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d be happy to help you.
Many people have been asking me if we’re headed toward another real estate market crash. Here are my thoughts.
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Is the real estate market going to crash? I’ve been getting that question more frequently, so today I wanted to give you my answer.
There are plenty of differences between what we saw in the crash about 10 years ago and what we’re seeing in the market right now. We peaked in the summer of 2007 before dropping 45% and bottoming out in 2012. Since that time, we’ve seen an upward trajectory in the market.
We’re due for a correction soon, but a crash is unlikely. A recession is certainly plausible. However, a recession simply means we’ll see a slowing in the pace of growth, which is healthy and needed. Here are a few different statistics that show we are in a different place then we were back then.
In 2005, everybody with a pulse could get a subprime mortgage loan. In fact, $620 billion was loaned in subprime mortgages back then. That made up 20% of all mortgages. These days, we are only seeing about $56 billion spent in subprime loans, which is only 5% of the market. This means that the banking industry has learned their lesson and isn’t being irresponsible with loans like they were in the past.
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Homeowners are much more responsible with their equity these days.
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Banks have certainly increased their lending standards since the market crash. In 2016, the loans given out by lenders were the highest quality of loans that we’ve seen in the previous 15 years. Back in 2001, the average FICO score for a homebuyer was 490, which is awful. In 2009, that figure jumped to 686—a much more reasonable score.
Finally, American homebuyers are much more responsible when it comes to using their equity. In 2006, homeowners were pulling out $85 billion worth of equity. A lot of it was being misused in the form of buying second homes, cars, and other unnecessary expenditures. These days, our community has been much more responsible. Although values have come back to where they were before the crash, only $14 billion was pulled out for equity in the last year.
In the Puget Sound area, our average sale price is now above where it was at the peak in 2007. People understand the market better and are more responsible with their assets.
If you have any questions about the market, your home, or your future buying or selling plans, don’t hesitate to reach out and give us a call or send us an email. We look forward to hearing from you soon.
