The Average Sold Price for Single Family Homes and Condominiums in Tacoma for the month of June was about $187,681.50 which was an increase of about 11.9% when compared to the month prior but was down by about 5% when compared to a year ago. Similar to the Average Sold Price, the Average Listing Price for the month of June was about $191,351.00 which was an increase of about 11.5% when compared to the month prior but was down by about 5.6% compared to a year ago. In June there were about 330 units sold which was a decrease of about 8.6% compared to the month prior but was an increase of about 15.4% compared to a year ago. To summarize, the Average Sold Price for Single Family Homes and Condominiums in Tacoma was about $187,681.50 in June, about $167,753.50 in May, and about $197,591.50 a year ago. The Average Listing Price for Single Family Homes and Condominiums in Tacoma was about $191,351.00 in June, about $171,689.50 in May, and about $202,743.50 a year ago.
Alain Picard – Real Estate Broker
These figures include Single Family Homes and Condominiums combined and are deemed reliable, but not guaranteed.
The Real Estate Market in Tacoma continued to improve in March with some double-digit gains. In March, 2013 There were about 305 homes sold in Tacoma compared to about 300 a year ago, an increase of only about 1.67% year over year. The Average sold price for homes in Tacoma was about $208,330.00 in March compared to about $154,470.00 the same time last year, a double-digit increase of about 34.87% year over year. Another number that was up in March was the number of new listings. There were about 432 new listings in March compared to about 368 new listings the same time last year, an increase of about 17.39% year over year. The average listing price in March was about $231,539.00 compared to about $174,426.00 the same time last year, an increase of about 32.74% year over year. While there were a greater number of listings in March compared to a year ago there was also a significantly higher asking price for those listings compared to a year ago in Tacoma. With the recent increase of home prices and interest rates expected to rise by the end of this year it is most likely better to buy now rather than wait.
All information deemed reliable at time of report.
(Data Includes Single Family Residential and Condominiums)
Short Sales Are A Very Common Type Of Sale These Days So It Is Important To Know What Exactly They Are. A Short Sale Is Basically A Sale Of A Home In Which The Proceeds To The Seller Isn't Enough To Pay Off Their Lender Or Lenders Who Have Liens On The Property. For Example, Lets Say That The Picard Family Bought A Home In 2006 For $300,000 And Received A Loan For $300,000 From Their Lender For The Purchase. Lets Say That Today They Need To Sell That Home For Some Reason And They Still Owe $295,000 To Their Lender But Because Of Todays Market Conditions Their Home Is Only Worth $200,000. For Them To Get An Interested Buyer They Would Need To List Their Home At A Price Somewhere Around $200,000 Which Is $95,000 Less Than What They Owe Their Lender So Their Lender Would Need To Approve The Sales Price Of $200,000 Before It Could Happen And That Is Pretty Much What A Short Sale Is.
The last day of the Puyallup Fair is this Sunday, September 23, 2012 so if you haven't already been there you should hurry up and get there soon before it's over!
There are many different ways that a Rent To Own home can be sold. This type of sale will usually include a seller who doesn't need to sell right away and a buyer who for some reason can't obtain financing at the time. The buyer would offer to lease the sellers home from them for maybe about two years or so and then at the end of the contract the buyer would need to obtain financing or have enough funds to purchase the home at the agreed upon price. First the seller and the buyer will agree on a purchase price of the home. Once a purchase price has been agreed upon the seller and the buyer will need to determine a down payment amount that will be paid by the buyer and placed in an escrow account and will be applied towards the purchase of the home when that time comes. The seller and the buyer will then need to agree on the amount of the monthly payments and for how long the lease will be. They may also agree to add a couple of hundred dollars to the monthly rent payment and put that extra money into the escrow account with the down payment and apply it towards the purchase at the end of the lease. Then at the end of the lease term, the buyer would need to obtain financing or have enough money to purchase the home as agreed upon in their contract and the down payment that was made by the buyers at the beginning of the lease along with any extra money that has been applied to the escrow account for purchase would be applied towards the purchase price or closing costs of the home. Usually if for any reason the buyer doesn't or is unable to purchase the home at the agreed upon time for the agreed upon price then the seller will keep the down payment and any extra montly payments that was to be applied towards the purchase of the home.
When you are trying to buy a home but have not really established a credit history there are some things that you can do to start building a good credit history. You can try to apply for a department store credit card such as Sears or JC Penneys and if that doesn't work you can apply for a secured credit card with a bank or a credit union. A secured credit card is one that the bank or credit union issues you that requires you to give them a deposit. For example say you wanted a secured credit card with a credit limit of $500.00. You would give the bank $500.00 that they would hold onto and they would issue you a secured credit card with a credit limit of $500.00. Once you have the card you can use it just like any other credit card and it will be reported on your credit report just the same as any other credit card. As long as you don't carry a high balance on the card and you make your payments on time you will start building a good credit history. Once you have the card for a while you will probably start receiving credit card offers in the mail and you can then apply for a couple of them and they should be unsecured.
When you are deciding to get a secured credit card you should call around and see what rates the banks offer, What increments they issue them in($300.00/$500.00/$1000.00), what monthly fees there are(sometimes around $10.00 a month), and if your secured credit card will change into an unsecured credit card after a certain period of time. For example if you have a secured credit card and are paying $10.00 per month and have been making your payments on time, after about 6 months to a year some banks will give you your $500.00 back making it an unsecured credit card and some will stop making you pay the $10.00 per month fee. Establishing a good credit history will help you when it comes time to apply for a home loan so get started by calling around to some banks and getting all of the details from them and then decide which card is the best for you.
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