Will Home Appreciation Increase This Year?

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If you’re considering moving from one state to another or thinking about investing in a second home, CoreLogic recently created an important infographic on forecasted year-over-year home appreciation values. It explains their projections about the real estate market based on more than 100 analysts, broken down by each state.

The country’s predicted average of home appreciation is 5.5%. In Washington, it rests at 7% appreciation. If we look back at history, data from around World War II shows homes appreciate at 5% a year. That’s a good indicator we can reference.

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The country’s predicted average of home appreciation is 5.5%.

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We’ve experienced significant growth in our marketplace, but it’s starting to stabilize. Overall, the housing market continues to grow and expand. It looks like we’re in good standing!

Thinking about buying or selling a home in Pierce County? Give me a call or send me an email as soon as you can. I’d be happy to talk!

Your Home Has More Equity than You Think

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I’ve got some very exciting news to share with you regarding the current real estate market. If you’ve been thinking of selling recently, you’re going to love what we have to say.

CoreLogic recently did a study on home equity. They defined “significant equity” as being 20% or more equity in your home from the time you bought it.

They asked Americans if they felt they had significant equity in their homes, and 37% said yes. That’s the perception among homeowners. In reality, 72.6% of Americans do in fact have significant equity in their homes. In Washington, that number is even higher, as 80% of homeowners have more than 20% equity in their homes.

In the chart below, you'll see that 91.5% of Americans also have positive equity in their homes.

It’s a great time to own real estate and may be a great time to sell if you've been considering it. If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.

What Did the First Quarter in Tacoma Real Estate Look Like?

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Today, I’ll go over what happened in the Tacoma real estate market during the first quarter of 2016.

We have had a hot real estate market so far this year. Right now, Pierce County is the fastest growing county in Washington State. There were so many multiple offers in King County that King County’s median sales price is actually double the median sales price in Pierce County. Buyers have begun to figure out that they can save money by buying in Pierce County, and that’s why the market has grown tremendously.

During the first quarter of 2015, a 3-bedroom, 2-bathroom, 2,000 square foot home sold for an average price of $255,000 and spent about 42 days on the market. This year, that same size house is selling for $312,500 and only spending 22 days on the market. That sales price has gone up by 18.4%, and homes are spending almost half the time on the market as they were last year. That’s incredible!
 

That’s great news for sellers, but buyers still have a great opportunity to build wealth by owning a home instead of paying those expensive rental rates. If you have any questions, give me a call or send me an email. I would be happy to help you!

How to Stand out in a Multiple Offer Situation in Pierce County

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Pierce County is in a very strong seller’s market right now. If you’re a buyer in the market, it’s likely you’ll run into a multiple offer situation. We want to set you up for success if you encounter a situation like this. We’ve had a lot of them lately, and we want to help you with it if you happen to be in the market for buying a home. We’ve got three quick tips for you today to help you stay competitive in this market. Here they are:

1.  A letter from the heart.
Make yourself stand out to the seller. Tell them how much you love their home and what it would mean to your family to live there.

2.  Home inspections.
There are a few options you have when it comes to home inspections where you can help your offer stand out. We’ve been seeing buyer's order pre-inspections on homes before a deal is even closed so that you can make an offer without having the home inspection contingency.

3. Reputation of your agent.
If your agent has a good reputation in the local community for getting deals done, you can feel confident you are in the right hands. Hiring someone with limited experience is certainly a gamble in Pierce County.

These are just a few things for you to consider when buying a home. If you have any other questions for us, give us a call or send us an email. We would love to hear from you!

What Is the Compassion Project?

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Today I’m going to be speaking about the Compassion Project. This project is aimed at helping people in need, and the goal is to be a resource and silent partner for those who need a little help.

This assistance could come in the form of paying rent, buying groceries, or just a helping hand with home maintenance. Our job as real estate agents is not to sell homes, it’s to make sure that everyone has an opportunity to live a better life.

Sometimes people who need help the most would be the last ones to raise their hand, so if you know someone that needs help, please let us know. We want to have a positive impact on our community.

If you have any questions about this, please don’t hesitate to ask. We have an application process that we can take you through. To fill out an application, visit here. 

We look forward to hearing from you!