Good Morning Tacoma,
As Kary said, no one can predict the future. However, over the past 3 1/2 to 4 years, we have seen continuous pricing declines year after year. A few of our Tacoma listings that didn't sell last year, were relisted this year at a lesser price, but have recently sold. Which is a positive sign. As I tell all of my clients, now is the time, as inventory levels have fallen over the past several months, and although prices are not increasing, you have a much better chance of achieving a sale at this time.
However, if you are prepared to wait it out until we see some sort of stability, and then continue to wait for recovery with regards to pricing...my guesstimate would be to stay put for another 3-5 more years. But then again, who knows where we will be. Personally, I believe that next spring will be worse, as there are more mortgages re-amortizing from 2007, meaning there will be potentially more short sales and preforeclosures, which have a great affect on our declining pricing. Also, there are many banks that have been holding onto foreclosures, as the market was flooded with inventory. So yet, another wave of bank owned is yet to come.
Not trying to instill fear, just giving you the reality of the market. I'm a full-time Realtor that has been through the ups and downs of this market over the past 10 years. My business partner has specializied in the Tacoma market for 20+ years as well. So you'd like a fair and honest opinion on the value of your property, please let us know, we are here to help.
Best wishes to you,