Puget Sound Properties & Lifestyle

  Investing in Real Estate & Why Passive Income Has Never Been More Important Investing in real estate has long been considered a prudent strategy for building wealth and generating passive income. Among the many locations available, Washington stands out as an exceptional choice for property investment. From our robust economy and favorable market conditions to our high quality of life, there are numerous reasons why buying investment property in Washington is a valuable tool for securing passive income. Below are five of the most important from my perspective.  1. Strong and Diverse Economy One of the primary reasons Washington is an excellent place for real estate investment is its strong and diverse economy. The state is home to several major industries, including technology, aerospace, healthcare, and retail. Companies like Amazon, Microsoft, Boeing, and Starbucks have their headquarters in Washington, attracting a highly skilled workforce. This economic diversity not...

  Hello ADU's! In recent years, Accessory Dwelling Units (ADUs) have become an increasingly popular housing option in Washington state. Buying a home in Tacoma or Gig Harbor is far more expensive than it used to be, and Seattle home prices have outpaced wages. These smaller, secondary residences, often referred to in other markets as granny flats, in-law suites, casitas or backyard cottages, offer numerous benefits that make them a valuable solution to the housing challenges faced by many communities. From increasing housing affordability to promoting sustainable living, ADUs are proving to be a versatile and practical addition to Washington's urban and suburban landscapes. Addressing Housing Shortages One of the primary reasons ADUs are valuable is their ability to address housing shortages. Washington, like many states, is experiencing a significant housing crisis, with a growing population and limited housing stock driving up prices. ADUs offer a way to increase housing dens...

  Offer Strategies That Work - Part II In the world of buying real estate, knowing what to offer on a home can be, one of the most anxiety filled decisions of the process. Am I getting a deal?    Am I paying too much?    Will the seller be interested in my offer?    Are their other offers?    How much are the other offers?    What can I do to set my offer apart from other offers?  The number of questions swirling around your head as a buyer (and real estate agent) can be overwhelming, especially when you’re ready to buy a home.  If you’re in the market, everyone is looking for a deal. But if you’ve been paying attention over the last few years, sellers have held the upper hand in real estate because we don’t have enough homes to sell for various reasons. Limited inventory keeps prices elevated. Buyers who’ve chosen to wait out this cycle may wait a very long time. And because there’s pent up demand that has been building f...

  Making an Assumption is Never Good…Until Now In today’s world of real estate, it’s tough paying higher prices for both homes and interest rates. We were in a low-cost interest rate environment for so long, it almost feels criminal to pay more than 7% to borrow money, but this is today’s inflationary world. What most people don’t know, is that some mortgages are completely assumable…meaning you can take over the current homeowners mortgage which includes a likely far lower interest rate. But, there are several things to consider before making this plan a reality. If you're looking for a home in Tacoma or the Pacific Northwest, it's an important option to consider.   Only FHA and VA loans can be assumable, because they are government backed. Conventional loans are generally not assumable because they have a due on sale clause, meaning the owner must pay the balance in full upon sale of the property. Because FHA loans are likely more common in lower priced homes, it can be...

  Why Buying Real Estate Today Still Makes Sense Real estate has been a topic of conversation on most people’s minds the last several years. From the Great Recession of 2009, through the years of post-recession stagnation and the decreasing volume of new construction, to the pandemic and seismic shift in real estate, causing prices to skyrocket, we have seen many markets in a relatively short period of time. Without those previous markets, we would not be where we are today. Supply Shortages Driving Price Appreciation : Many regions are facing a shortage of available housing units relative to the growing demand for housing. Rapid population growth, urbanization trends, and limited land availability exacerbate this supply shortage. As a result, property prices are on an upward trajectory, presenting opportunities for investors to capitalize on potential capital appreciation. As homeowners committed to historically low interest rates through the end of 2021, even through the extremes...