Home Buying in Tacoma>Question Details

Shelli Marti…, Home Buyer in Federal Way, WA

Should I wait until the summer to shop the Proctor/UPS district?

Asked by Shelli Martineau, Federal Way, WA Mon Nov 12, 2012

I'm looking for houses in the Proctor District in Tacoma. I don't have a big budget, and I'm noticing houses in my price range are off the market as quickly as they enter. Will I have a better shot if I wait until UPS is out for the summer??

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8
Dan Tabit’s answer
Shelli,
Waiting only means missing out on what may be available between now and when you come back into the market. It also means that your buying power may change if rates go up. I don't have a crystal ball, but rates are so attractive now, with lots more history of them being higher, not lower, that if you are pre-approved and able to buy now, I'd encourage you to keep looking.
Also realize that there are more qualified buyers for a $100,000 home than a $500,000 home or a $1,000,000 home. Well priced market ready homes are disappearing within days, sometimes hours, so you and your broker must have a good strategy to find the right home and be successful.
Don't buy out of panic or fear, but become informed and have the best strategies working for you to finally be successful.
1 vote Thank Flag Link Mon Nov 12, 2012
Hi Shelli,

Do you have auto email alerts set up? John L Scott, Betterproperties, Windermere all have good websites that you can enter your search parameters into and get automatic emails sent to you when a house comes up new on the market. Generally speaking there are usually more homes on the market in the spring and early summer than other times of the year. However it doesn't hurt to keep looking.... if you are in a stable living arrangment now you could be a good candidate for short sales, as noted in answers posted to your last question those sales can take quite a bit longer to close. Please go to http://betterpropertiesnorthproctor.com to set up auto emails. http://www.ProctorHomes.com
1 vote Thank Flag Link Mon Nov 12, 2012
Hi Scott, are you the seller's agent on the unlisted houses?
Flag Mon Nov 12, 2012
Oh, Shelli, one more thing about home buying in a specific area: word of mouth! At any given time I know of at least two houses for sale in the Proctor area that aren't listed on the market (I know two right now!). I've sold many homes "off market" by word of mouth. So tell everyone you talk to that are looking in Proctor and don't hesitate to ask agents if they know of any houses available that aren't listed.
Flag Mon Nov 12, 2012
In most areas the time between Thanksgiving and Christmas is better for buyers, but with this year's low inventories, that might not carry over. I would say not to wait though, but instead just make sure you're prompt noticing each new listing.

One huge advantage to looking this time of year is the inspection will be done during the rainy season. Potential water issues will be more obvious.
1 vote Thank Flag Link Mon Nov 12, 2012
Hi Shelli,

That is a great question and I can give you a general response here. For a detailed response call me at 253. 961. 3613.

There are several factors to consider from the outset. Homes are typically priced more attractively during the winter. This is the time serious sellers and serious buyers get together and close deals. Also, if you are wanting to take advantage of certain loan programs and interest rates that may or may not be here come spring time, be sure to add that into your equation.

I love the Proctor/6th Ave area as it is 15 minutes from where I live now and I have family that lives right off the strip so it's an easy walk to all of the fun night spots and shops. The area also offers a lot with organic and farmer's markets and shopping and has a culture all it's own.

Right now the area has varying prices and I predict that will continue as it has since 2006. Distressed properties add up to about 26% of the sales in that area and prices started decreasing in August (which was the largest decrease of over 20% from July) and are now stabilizing. See market report here: http://www.mega-pros.com/mimarket/zip/98406/

Given that pricing is more 'buyer-friendly' at this time of year, there are more opportunities to further negotiate during the sales process and that you know what your interest rate is and what additional programs like the (MCC Tax Benefit and Pierce/State Bond programs for down payment assistance) I think this is the best time. All of these factors will be unknowns come Spring and prices will go up.

To see properties in the Proctor District under $175k as soon as they hit the market click here: http://www.mega-pros.com/listings/areas/29236/maxprice/17500…
0 votes Thank Flag Link Mon Nov 12, 2012
Hi Shelli, As everyone is already saying here, Yes you should start shopping now. If you give me a call or send me an e-mail I can set up an automatic e-mail for you so that you will know as soon as a home that meets your criteria hits the market and give you a better chance to make an offer on it before it is under contract with another buyer. Homes are constanly receiving multiple offers in todays market usually within the first few days of them being listed for sale. Hope to hear from you soon. Thanks

Alain Picard-Real Estate Broker
Cell:253-861-7386
Ofc:253-922-6220
apicard@betterproperties.com
0 votes Thank Flag Link Mon Nov 12, 2012
Shelli,
That's a good question to ask as it shows that you realize timing is everything in real estate. You need to be always cognizant of the right timing for interest rates, for prices, for selection of inventory. At the moment, homes under $200,000 in No. Tacoma are flying out the door because of the lack of inventory and incredibly low interest rates. Your question about waiting for UPS to get out for the summer may have been more relevant in the past 3 or 4 years, but not today. I know this may make you anxious but you need to dive into the market as soon as possible. During the holidays the inventory is down but so is the competition among buyers. Typically only serious sellers are on the market during this time and you may find a real "gem" out there.
Looking on your own is one method. However its not very effective really. I suggest you connect with an agent who is on top of the market and will let you know about homes the day they come on the market. Maybe even in advance as the market is so dynamic now and some homes never reach the market before they are sold. You need an experienced negotiator and closer, an agent whose percentage of closed sales far exceeds the number they've written. That takes knowledge and experience today to navigate the world of lending, inspections, pricing, title/escrow.
If you haven't already, I recommend you get pre-approved for a loan not just pre-qualified. This puts you in a great position for negotiations and also sets the table for what you should look to buy and what not to look at.
I personally pride myself on helping new-comers to the market, educating them and counseling them all along the way. I want them to say I bought my home from Dick Beeson, not Dick sold me a home.
Good luck to you Shelli. Get crackin. Times they are a changing!
0 votes Thank Flag Link Mon Nov 12, 2012
There are various answers to this question 4 U.
1. What would you like to do? Are you renting and have a rental agreement to consider?
2. Interest Rates are very low, which means you can buy more property for less money. Your money
goes a longer way, when interest rates are low. Interest Rates are not stagnant and can go up.
3. There are properties on the market, that sellers really want to sell at this time, because they have it
on the market now, instead of waiting themselves. You may get better prices.
4. There are more properties on the market in the Spring, but there are also more buyers, so you have
more competition for each home.
5. Buyers and sellers in the market, right now, are serious, as non serious people are tied up with the
coming Holidays.
6. If a house is available that you like this is a very good time of the year to buy, as you can have "your
pick over more sellers interested in making a deal that could benefit you, very much in the market.
Please contact me at barryjaroslow@rocketmail.com 4 more info. I work on your timeline, without any pressure at all. 206 251 7514 to get me for texting or conversation in Tacoma.
0 votes Thank Flag Link Mon Nov 12, 2012
Hi Shelli,
Your question deserves a professional answer.Working with someone like myself is a huge benefit to you. You are in a competitive market in your price range. As a professional full time broker, I can tell you your opportunities will increase and I will "help" you. This is a good time for youto continue to search and most of all "Be Encouraged." Thank you ...:) Call me or email me....realtorpjgrant@gmail.com


“Making House Calls Again!"


Broker,

Pam Grant ASR.GRI.CSP
Direct 253-224-5926
Fax 253-838-0760

Web Site: http://www.cbdanforth.com

"Coldwell Banker Danforth"

"Your new introductions to me in 2012 are the core of my business. If you know of someone who has a Real Estate need and would benefit from my level of service, just send me their name and number. I am privileged to follow up with them. It is amazing to see American Dreams Come True! Your Real Estate Consultant For Life!"
0 votes Thank Flag Link Mon Nov 12, 2012
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