Puget Sound Properties & Lifestyle

The housing market in the U.S. continues to experience notable shifts as we head into the final months of 2024. One of the most striking developments in recent weeks is the drop in the median listing price of homes while the price per square foot rises. This paradox may seem puzzling, but it speaks to broader changes in buyer preferences, housing supply, and market dynamics. The Drop in Median List Price In September 2024, the national median list price of homes fell by approximately $5,000 , from $429,990 in August to $425,000. This drop aligns with the typical seasonal cooling in the housing market as summer ends, but it also represents a more significant shift compared to the same time last year. With interest rates remaining high, many potential buyers have found themselves priced out of the market, leading to a softening in demand, especially for larger and more expensive properties. As a result, sellers have been increasingly willing to adjust their prices. In September, 1...

  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...

  When Enough is Enough - The Moneypit Home Being invited into a homeowners living room to talk about listing their home is a common activity for most real estate agents. Selling your home in Washington can oftentimes mean timing the market to maximize your return after years of sweat equity and real expense. As a homeowner you’ve often replaced many systems, made repairs and upgrades during your time owning the home, and you’re looking for some return on your investment. But how much spend is too much? Recently in Federal Way, I had the opportunity to meet with homeowners who had spent years touching every corner of their property, making upgrades to flooring, stairwell railings, paint, appliances, room additions, landscaping and more. They showed me their new water heater, new power panel, water filtration system, new furnace, extra storage in the garage. On and on they went, pointing out the amazing work they’d done to their home. And it truly was great work. And now they wa...

Homeowners Associations (HOAs) often generate mixed feelings among homeowners and would be homeowners. While some people appreciate the benefits HOA’s bring, others may find them restrictive or unnecessary. However, there are several compelling reasons why  HOAs are worth it  for many homeowners. Though I focus on buying homes in Tacoma and the greater South Sound, these benefits are found elsewhere as well and are likely consistent across multiple markets. Property Value Preservation: Consider a scenario where there is no HOA to regulate property upkeep. One homeowner might neglect their lawn, while another might paint their house an unsightly color, or even park their cars on the lawn. These individual choices could detract from the neighborhood's appeal, leading to a decline in property values for everyone. By implementing and enforcing rules, HOAs reduce and often eliminate such issues and create an environment where homeowners can feel confident that their property invest...

4 Key Considerations for Homebuyers Looking at Resale Homes When considering buying a home in Washington, choosing the right neighborhood is a crucial decision. It’s not just about the house itself; it's about the community and environment you'll be living in. Here are four key areas to focus on to determine if you're in the right neighborhood whether you’re here in the Puget Sound or not: 1. Is the Area Safe? Safety is paramount when selecting a neighborhood. Start by researching crime rates in the area. Tacoma, like many cities has websites, local police departments, and community forums that can provide valuable insights. Additionally, take a stroll around the neighborhood during different times of the day to gauge the atmosphere, because walkability is an important factor too. Look for well-lit streets, maintained sidewalks, and a general sense of security. Neighborhood watch programs and active community involvement in crime prevention are also positive indicators o...