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Second Quarter 2016 Pierce County Housing Report
When is a "HOT MARKET" not Hot? and….Are you one of the Pierce County Homeowners poised to "beat the market"?! There is a way to out-perform this crazy market using current trends! More on that below, first the Pierce County headline numbers
Inventory – DOWN – 21.5%
Closings – UP – 5.3%
Median Price – UP – 13.6%
New Pending Contracts – UP – 24.1%
These headline numbers show us the market continues to roll through the summer and buying in this market can be challenging with a high level of increased sales with the backdrop of decreased inventory. What would you say if I told you you could leverage this market in your favor? It's not for everyone but if you're in the market for a larger, or more luxurious home while selling your median priced home, you could be in for a big advantage. Maybe the waterfront or the view you've always dreamed of is within reach!
You know I love Sales Ratios as a tool for measuring market effectiveness. Click here for a refresher on Sales Ratios. The Pierce County Market is not performing with the same effectiveness throughout the price spectrum. You can see under $500,000 is HOT! Above $500,000 the market fundamentally falls off pretty drastically.
The way to trick this intense market into working in your favor will begin to be revealed with a look at where the home sales are concentrated. It doesn't take long to see the "high-end" is not performing the same as the median or lower price ranges. I defined the high end in Pierce County as; 2.5 x median price in combined markets of North Tacoma, University Place and Gig Harbor. So, $359,000 x 2.5 = $900,000. Looking at the chart below and the layers of market intensity are quite visible.
By the way, turns out this is nothing new, Pierce County has recorded about 95% of all sales below the $500,000 price level for….well….ever.
The strategic move here says Captain Obvious, "If it is possible with your circumstances to sell in a lower price sector and buy up into a higher one, the negotiation table should be in your favor." If you are selling in a price range where there is only 1.3 months of inventory and a sales ratio of 87%, prices are likely moving up and you can sell at a premium. The farther up the price tree you climb the worse the fundamentals are for sellers and the more things are in favor of buyers.
This market condition is important for high end sellers to realize. It may be "new" news to Pierce County luxury home sellers because there has been so much talk of the "hot" market, but I haven't seen a report break it down by price.
As you can see the overall market averages are impressive and the market is really good! That said, it reminds me of an old saying. "If you have one bare foot in a bucket of hot coals and the other in a bucket of ice, 'on average'…you should be fine!"
Drop me a line if you have any questions or comments, it's always good to hear from you!
Two Duplexes Close to JBLM for Sale!
14521 – 14523
&
14607 – 14609
W Thorne Lane, Lakewood
The Essentials:
Two Duplexes
Each Unit is:
1 Bedroom / 1 Bathroom
432 Sq. Ft.
1 Attached Carport
Large Level Lots
Garden Space for Tenants
Offered for $289,000
Click here to view the listing
Just over a 1/2 mile from Harry Todd Park and next to Youth for Christ's Tillicum's Youth and Family Ministry sit two duplexes that each have one bedroom, one bathroom units with attached carports. One vacant unit is availble for showings and is pictured below. Rents currently appear to be under market with 2 at $475 and 2 at $575.
Clean and tidy living / dining room with laminate flooring and an efficient kitchen. Natural light from the large front window.
There are two doors into the unit allowing ample airflow during the summer months.
A view of the bedroom with attached full bathroom.
Another exterior view of one of the duplexes. Each has a dedicated carport.
There is also a substantial garden area for tenants to use on the Southern lot.
Tenants can own food in the raised beds!
Local ammenties include Lakewood Towne Center, which is about 15 mintues away by car and offers a mix of 40 stores including retail, resturants, entertainment, and services. It's a quick 10 mintue drive to the Logistics Gate at Joint Fort Lewis McChord. Tenants can enjoy picnicing and swimming at Harry Todd Park, it encompasses 17 acres.
Elegant Tacoma Country and Golf Club Lakefront Home!
96 Country Club Circle Sw, Lakewood
The Essentials:
5,861 Sq. Ft.
.840 Acre Waterfront Lot
81 Feet of Lakeshore
3 Bedrooms / 3.5 Bathrooms
Steel Frame Construction
400 Sq. Ft. Dock
2 Car Garage and 1 Car Garage
Offered for $1,595,000
Click here to view the listing
Live the life of luxury at this stunning French Country inspired 5,861 sq. ft. home sitting on a fully landscaped and irrigated .840 acre lot in the Tacoma Country and Golf Club on American Lake. This private gated community provides unsurpassed security and amenities in Lakewood.
As you enter through the formal courtyard you are greeted by exquisite landscaping and powder coated (for ease of maintenance) cast iron railings and gate. Continue into the home where unobstructed views of American Lake await.
With a 400 Sq. Ft. dock, 81 feet of lakeshore, with room for 2 boats (and plenty of fish hiding beneath) the impressive outdoor entertaining area will surely become one of your favorite amenities this impressive home provides including an in-ground 1,000 gallon (8 person) spa.
As you meander around the manicured grounds and huge custom stamped concrete patio you’ll find the outdoor kitchen, perfect for your 4th of July BBQ, as well as a natural gas fire pit to keep you warm during sunset. The current owners have comfortably entertained parties upwards of 80 people on the patio and lakeside yard.
You will not be disappointed at the attention to detail inside the home either. Steel framing provides long term structural durability and safety. Rest assured no details have been missed in this home. As you pass through the foyer notice the extensive use of hardwood flooring and marble throughout. The formal living room is a grand space with 12′ ceilings, crown molding, dual brass chandeliers, gold-plated and wall sconces, a custom built over-sized marble fireplace, as well as breathtaking views of American Lake.
The kitchen is outfitted with more built in appliances than you can imagine such as the wok burner, built-in deep fryer, with easy drain system, indoor barbecue grill, gas heated griddle, gas salamander, dual Fisher & Paykel double drawer dishwashers (1 in the butler’s pantry), Viking trash compactor, Thermador warming drawer, Sub-zero refrigerator and freezer, custom stainless steel range hood that is 14′ long and built to restaurant specifications, as well as a commercial 6-burner cooking range.
The cabinets are custom designed Cherry wood with slab granite countertops. Marble floors underfoot.
The fully outfitted butler’s pantry makes catered parties a breeze.
One of the three dining spaces within the home.
Continue upstairs to the grand master suite. The private deck overlooks the lake and the glass two sided fireplace looks into the office.
The generous spa like master bathroom is steeped in luxury.
The lower levels is home to two additional bedrooms, each with their own bathroom with marble flooring, a home gym, and the rec room which is shown below. When the weather isn’t cooperating there are plenty of options for indoor entertaining!
Step out onto the custom stamped concrete patio from the lower level and make your way down to the dock.
Look back at the perfectly manicured lawn from the dock, and imagine the parties to be thrown. If you’re not in the mood for entertaining at home the Tacoma Country and Golf Club, which has a longstanding reputation as one of the oldest and most prestigious clubs in the nation, it is the perfect place to celebrate special events. They can easily accommodate 200 guests. As a member you will enjoy fine dining in their grill, lounge, or poolside. They have a resident Pro, Greg Smith, to help you hone your skills for a tennis match. They also offer outstanding Junior Programs for golf and tennis as well as swimming lessons and a swim team. If you are looking for another course to play the Oakbrook Golf Club opened their doors to the public in 2012.
Conveniently located in Lakewood, which is nestled between Tacoma and Olympia, you can fulfill all your shopping needs at Lakewood Towne Center. Don’t miss some of the historic landmarks in the area. Take a tour of the stunning Lakewood Gardens or visit Thornewood Castle, which you can also view from the lake while boating! If you’re traveling the Sea-Tac Airport is 42 mintues away, and it’s a quick 24 minute drive to the Tacoma Narrows Airport.
Charming 3 Bedroom North Tacoma Craftsman Home!
1216 N Steele St, Tacoma
The Essentials:
1,276 Sq. Ft.
3,750 Sq. Ft. Lot
3 Bedrooms /1.5 Bathrooms
Detached 1 Car Garage
Offered for $295,000
Click here to view the listing
This charming North Tacoma craftsman home was built in 1908 and is conveniently located between the University of Puget Sound and Stadium District.
Upon entering the foyer you are greeted by newly refinished hardwood floors. They are found throughout most of the home. Craftsman details are stil intact such as the coved doorways, leaded glass front window, and period light fixtures.
There is a large bay window in the dining room providing ample natural light. The layout is comfortable and ideal for entertaining guests.
The spacious kitchen has been updated with handsome new cabinets with 'soft close' doors and drawers. The countertops are solid surface Quartz, and the new stainless steel appliances stay with the home.
If you're taking the night off as chef you are within minutes of a plethora of dining choices! Take Steele St South to 6th Avenue. Grab sandwiches to go from the infamous MSM Deli or enjoy the creative bunch menu at Dirty Oscar's Annex. For finer dining try Asado Restaurant, an Argentine steakhouse. Pick up your groceries at Dave's Meats & Produce on the corner of N Steele St and N I St, it's less than a 10 minute walk there! Play a game of pool and enjoy one of the beers on tap at Magoo's Annex, it is also a 10 minute walk away! Take your 4-legged friend with you and you can continue to Garfield Park, which is tucked between to Annie Wright School and the Tacoma Lawn and Tennis Club. From Garfield Park you can take the trails down and explore the gulch and waterfront via the connecting trails.
The full bathroom has been updated with tile floors and tub surround.
There are 3 bedrooms, this bedroom has an attached 1/2 bathroom and gleaming hardwood floors.
Upstairs you'll find the finished attic with plenty of room for storage, a home office, artistic retreat, or…?
Downstairs the unfinished basement offers more storage and houses the electric water heater as well as the electric forced air furnace.
The partially fenced yard has a small patio, perfect for the BBQ and a detached 1 car garage.
Click here to schedule a showing
Lakefront Mid Century Modern Home on 1.5 Acres
44 Country Club Drive SW, Lakewood
The Essentials:
3,596 Sq. Ft.
4 Bedrooms / 3 Bathrooms
1.5 Acre Lot
255 Ft. of American Lake Frontage
Dock and Former Seaplane Platform
Offered for $1,725,000
Click here to view the listing
Sitting proudly on what is arguably, one of the finest lots in the Tacoma Country and Golf Club, this stunning 3,596 sq. ft. Mid Century Modern home was designed by Marshall W. Perrow, a Tacoma architect who designed Geiger Elementary School, Reed Elementary, and Baker Jr. High School, as well as Johnny's Dock Restaurant. The lakefront home was built in 1951 for Tom Carstens, the well known owner of Autohaus who brought Porsche and Audi to Tacoma. With 255 ft of American Lake frontage you will not be disappointed by the backyard view!
As you step into the one owner home you are greeted by a wall of windows, and handsome stone floors.
The multilevel home has a unique layout with stunning lake views from the living room.
Step out onto the flagstone patio and soak in the breathtaking views. This is lakefront living at it's finest! The dock and former seaplane platform are in place for swimming and fishing!
The original kitchen is intact with modern cabinets, and a lovely lake view from the built in breakfast nook. Imagine sipping a steaming cup of coffee from this cozy spot as you start the day.
If you're taking the night off as chef head over to the Tacoma Country and Golf Club, where as members you can enjoy all that club life has to offer. Fine dining is available at the grill, in the lounge, or poolside! Enjoy a game of tennis, you can take lessons from their Pro, Greg Smith, and they have well known Junior Programs for golf, tennis, and a swim team as well as lessons! There are plenty of social activities at the club such as weekday afternoon card games, bi-monthly wine tasting, and Thanksgiving, Christmas, and Easter buffets, allowing you to enjoy the holidays without having to cook or clean! These celebrations are steeped in history and you can see Tom Carstens at the Halloween barn dance in 1937 here.
There are four spacious bedrooms, one of which is the large master suite with an attached full bathroom. Walls of windows look out over the manicured grounds to American Lake.
The generous master bathroom with built in cabinetry.
The original owner, Tom Carstens, was a well know automobile man. His #14 Allard Js ruled West Coast Racing from 1951-52. You can see the driver, Bill Pollack, in action in the video below.
In addition to the attached 2 car garage, there is a showroom like detached garage will house 4+ cars and with an additional attached room with a full bathroom! This is not your typical 'man-cave'! This is the perfect spot for guests, multi-generational living, adult children, live in staff, home office, media room… imagine the possibilities!
Living in Lakewood is an easy choice. You're only 42 minutes to the Sea-Tac Airport, and 24 minutes to the Tacoma Narrows Airport. Fulfill your shopping needs at Lakewood Towne Center, where you'll find 40 stores of retail, restaurants, services, and entertainment, it's a quick 10 minute drive there. Lakewood Gardens is a 10 acre private garden that is open to visitors and can be reserved for private events, such as weddings. Stop by Thornewood Castle, the only private castle on the west coast, which is available for weddings, private events, or overnight stays at the Bed and Breakfast. This is the perfect spot for out of town visitors as it is steeped in history and is only a mile away!
Ready to make this unique, one owner lakefront home yours?
North Tacoma 3 Bedroom Classic Craftsman Bungalow!
3606 N 8th St, Tacoma
The Essentials:
3 Bedrooms / 1.75 Bathrooms
2,410 Total Sq. Ft.
1,850 Finished Sq. Ft.
6,000 Sq. Ft. Lot
2 Car Detached Garage
Offered for $389,900
Click here to view the listing
"We raised our family here, being part of a school community that helped create a successful launch to college. " – Current Seller
Sitting proudly on a 6,000 sq. ft. lot in North Tacoma nestled between the 6th Avenue Business District, Proctor District, and the Univeristy of Puget Sound, this charming craftsman bungalow could not have a better location. Grab your favorite espresso drink from Valhalla Coffee and relax on the front porch.
As you pass through the foyer and into the living room you are greeted by crisp white millwork and gleaming fir floors. Unique period details are intact throughout the home, such as the built in bookcases.
Continue into the generous dining room where you will find a large window seat, perfect for relaxing, and the beautiful built in hutch with leaded glass. Continue into the kitchen with crisp white cabinets and plenty of storage space.
The breakfast nook overlooks the sunny backyard and deck. If you're taking the night off as chef there is a plethora of options within walking distance!
Continue upstairs and you'll find a huge bedroom and 3/4 bathroom. This would make an excellent master suite, artistic retreat, home office, or…?
Step out onto the sun drenched deck and enjoy the privacy provided by the mature landscaping. The current owners have used this as a 3-season space to host guests, or unwind by the fire pit.
There is also green space beyond the deck perfect for playing! Garden space along the detached garage as well. If you're looking for more room to roam you're practically steps away from the University of Puget Sound which has manicured grounds to stroll, a track to run when it's not in use, and lively sporting events to attend, and is open to the general public. Jefferson Park is also just up the street and is the perfect place to walk your 4-legged companion or let your little ones cool off at the Sprayground.
Beyond the backyard is the two car garage with alley access! There is also RV parking!
Perfect North Slope 4 Bedroom Craftsman
520 N Sheridan Ave, Tacoma
The Essentials:
3,270 Total Sq. Ft.
2,968 Finished Sq. Ft.
6,500 Sq. Ft. Lot
4 Bedrooms / 2 Bathrooms
Detached 2 Car Garage
Offered for $469,900
Click here to view the listing
Looking for a turn key 4 bedroom craftsman with original unpainted woodwork intact? You've found it here in this charming home sitting proudly on a landscaped 6,500 sq. ft. lot. Nestled in the North Slope neighborhood minutes from Stadium District, Downtown Tacoma, and bustling 6th Avenue the location could not be better. Enter the light and bright foyer and one of the main floor bedrooms is directly in front. Gleaming hardwood floors are underfoot.
Continue into the living room and marvel at the impressive woodwork. Wood burning fireplace will keep you cozy.
Generous dining room beyond the living room. Perfect for entertaining your guests.
Impressive chef's kitchen with plenty of character! High end stainless steel appliances and beautiful marble countertops. Casual dining area in the kitchen is perfect for enjoying a steaming cup of coffee in the morning.
Step out onto the large deck and enjoy the fully landscaped backyard. BBQ on the deck, relax in the hot tub, add some raised beds and grow your own fruit and veggies! There is plenty of room to roam back here. Detached 2 car garage with alley access is in the rear of the yard. Countless amenities are just minutes away. Stroll to Wright Park where you can visit the 27 acre arboretum with a rich collection of over 600 trees, or let the little ones play in the Sprayground may through September. Grab a burger and craft beer at a local favorite, The Parkway Tavern, also within walking distance! Pick up fixings for dinner at Stadium Thriftway and relax in the sunny backyard.
5 Bedroom Park Ridge Home with Puget Sound View!
8941 51st St W, University Place
The Essentials:
4,202 Sq. Ft.
9,619 Sq. Ft. Lot
5 Bedrooms / 3.5 Bathrooms
2 Car Attached Garage
Puget Sound and Territorial View
Offered for $650,000
Click here to view the listing
Sitting proudly on nearly a quarter acre lot in the Park Ridge neighborhood in University Place, you will enjoy Puget Sound and territorial views from the main floor living spaces of this fully updated home.
The foyer has timeless slate floors underfoot and overlooks the dining and living rooms. These spaces can accomodate your large parties and are ideal for entertaining.
You and your guests will enjoy stunning views while dining or relaxing by the gas fireplace.
Step out onto the deck and dine alfresco while soaking in the view.
The chef's kitchen is sure to please with slab granite counters, stainless steel appliances, and a great view from the large window! If you're taking the night off as chef you're only 1.5 miles from the Chambers Bay Grill at Chambers Bay Golf Course, the location of the 2015 U.S. Open where you can enjoy panoramic views and stunning sunsets. You're also only 2.5 miles from amenities such as Trader Joes, Starbucks, and Whole Foods.
The family room is just off the kitchen with ample space for casual dining, and built in cabinets for storing your books or media equipment. Easy access to the covered deck is ideal for all weather grilling!
Expansive deck space to enjoy with friends and family. This will surely become one of your favorite gathering places in the home.
The spacious master suite has ample closet space, an attached bathroom with a huge steam shower with multiple shower heads, heated floors, and a lighted vanity! There is a junior master suite on the main floor in addition to this.
Downstairs you'll find 3 more spacious bedrooms, a second laundry room, and a large rec room with impressive built in bookcases, gas fireplace, and a wet bar! This is an entertainers' dream.
Walkout daylight basement allows access to the covered patio and backyard.
If you're looking for more room to roam you're just a quick walk or drive from Chamber's Bay Regional Park which encompasses 930 acres and includes over 2 miles of saltwater shoreline, and walking / biking trails.
Ariel view of the home and decks with lush green space surrounding.
4 Bedroom Home in Gated Pointe Woodworth!
1710 Pointe Woodworth Drive NE, Tacoma
The Essentials:
2,744 Sq. Ft.
12,576 Sq. Ft. Lot
4 Bedrooms / 2.5 Bathrooms
3 Car Garage
Click here to view the listing
Proudly sitting in North East Tacoma this handsome 2,744 sq. ft. 4 bedroom traditional home was built by Norris Homes in 2003. In the foyer you are greeted by gleaming hardwood floors. The den is to the left and could be a great home office, library, or artistic retreat.
Generous formal dining room with architectural features is ideal for entertaining and opens to the great room.
The gas fireplace will keep you cozy all year round. Surround sound is built in making it easy to enjoy your favorite movies!
Chef's kitchen with granite tile counters, coordinated natural stone backsplash, and stainless steel appliances including a gas range/oven. If you're taking the night off as chef there are a plethora of dining options. Enjoy breathtaking views of Tacoma and Mt. Rainier while overlooking Commencement Bay from The Cliff House. Enjoy a casual meal at Browns Point Diner then meander down to Browns Point Lighthouse Park for more stunning views and to watch the ship traffic headed to the Port of Tacoma. The eating nook is perfect for keep on eye on outdoor activities in the fully landscaped backyard.
Spill out onto the covered patio, there is 5,000 sq. ft. of stamped concrete outside perfect for all your outdoor activities! The sprinkler system makes maintaining the manicured lawn a breeze.
Backing to green space the private backyard is perfect unwinding at the end of the day. If you're looking for more room to roam it's a quick 15 minute drive to Dash Point State Park where you can hike, bike, stroll the beach for treasures, or fish off the public pier.
Upstairs there is a generous master suite with a spa like master bathroom and walk in closet.
There are three more bedrooms, a full bathroom, and a generous bonus room are also upstairs. The bonus room is your ideal flex space above the garage.
Another view of the stamped concrete patio. Mature landscaping provides privacy. Minutes from all major conveniences nestled between Downtown Tacoma and Federal Way commuting is a breeze. It's a 5 minute drive to QFC where you can pick up all your groceries.
Three Bedroom Rambler in South Tacoma
6440 S Gove St, Tacoma
The Essentials:
1,168 Sq. Ft.
6,900 Sq. Ft. Lot
3 Bedrooms
1.75 Bathrooms
1 Car Detached Garage
Offered for $199,950
Click here to view the listing
Nestled in the Manitou neighborhood of South Tacoma this charming 3 bedroom rambler has been recently refreshed and is move in ready! This commuter friendly location is only 20 minutes to Joint Fort Lewis McCord or Downtown Tacoma!
The light and bright kitchen boasts new contemporary cabinets, slab granite counter tops, and stainless steel appliances that stay with the home. There is ample storage space. You're only a 10 minute walk from Metro Parks Star Center where you can visit the Treetops Playgrounds, purchase a membership to their fitness center, take a cooking and nutrition class, or on Sundays June 5th – August 28th, visit the South Tacoma Farmers Market and bring home local fruits, vegetables, meats, bakery products or handcrafted items while enjoying live entertainment! When the farmer's market isn't running you can head West on S 74th and you'll find yourself at H&L Produce, a small local grocer that has been a staple in Tacoma since 1985.
The dining room is spacious and overlooks the side yard. It is bathed in soft natural light. The living room is to the left through the doorway. If you're taking the night off as chef Montezuma's Mexican Restaurant is only a mile away! Continue on S 56th St and you'll find Starbucks, Stonegate Pizza and Rum Bar or Dawnson's Grill and Bar.
The full bathroom has been updated as well with a contemporary tile tub surround with an glass tile inlay as well as a new vanity. This bathroom is located near the kitchen and is ideal for guests.
There is also an updated 3/4 bathroom shared by the front two bedrooms for convenience!
If you are looking for more room to roam than the 6,900 sq. ft. lot then you can cross over I-5 and find yourself at an oasis in the city, Wapato Park. Enjoy strolling around the picturesque lake, or take your four legged friend to the off-leash dog portion of the park! Meadow Park Golf Course is also an excellent option with both Golf and FootGolf courses available as well as professional golf lessons for all ages!
Click here to schedule a showing
