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Uncategorized Puget Sound Market Update 9/1/21 GIG HARBOR’S AUGUST STATS Happy September everyone! Here’s a quick overview of what’s happened in our local market over the last month (data below is month-over-month change): Median Sales Price: +1.6% (up $11,000) Median Price / SF: +3.4% (up $10) Homes listed for Sale: 69 (down from 72) Month’s of Inventory: 1.2 (down from 1.3) […]
Uncategorized Market Update August 25, 2021 NATIONAL TRENDS vs GIG HARBOR While we wait for August’s real estate stats to roll in, let’s take a look at how our small part of the country is fairing compared to current nationwide trends Existing home sales Nationwide we’ve seen existing-home sales rising 2% (seasonally adjusted) from June to July, with no sales declines […]
Uncategorized Market Update August 18, 2021 SAVING YOUR BUTT IN A SELLER’S MARKET – AS A SELLER While we are entering the traditional slow season we are still in a Seller’s Market. While this bodes well for those who will be wanting to sell their property, they are also exposing themselves to risks due to the protections that buyers are waiving. […]
Uncategorized Market Update August 11, 2021 COMING SOON: CHANGES TO YOUR CREDIT SCORE While this week’s topic might seem a little removed from Real Estate per se… credit scores are the three digit number that will determine your future. They are the gate keeper that will determine if you can: buy a house, rent an apartment, get a credit card in […]
Uncategorized Market Update August 4, 2021 Q2 2021 – REGIONAL REPORT Windermere’s chief economist, Matthew Gardener recently released his Q2 2021 Western Washington Report in which he analyzed our local housing market and economic conditions. The full report can be found here. Here is a brief summary of his findings: Home prices rose 31.4% compared to a year ago. The average […]
Uncategorized Market Update July 28, 2021 CONSUMER PRICE INDEX, SHRINK- INFLATION AND YOU Many of us are still scratching our heads when it comes to the Fed and their use of the CPI to measure inflation. Goods costing more is inevitable facet of a 2% “healthy inflation.” Thanks Nixon. But what if it exceeds expectations? This would be reflected in CPI […]
Uncategorized Market Update July 21, 2021 GIG HARBOR’S METROPOLITAN MARKET OPENING DRAWS CLOSER Some good news if you’re in the market for spending even more of your money, especially nowadays, on your groceries! While the parking lot in front of our old QFC is still a construction zone, the sluggish transformation from grocery store into a … grocery store … seems […]
Uncategorized Market Update July 14, 2021 LUMBER PRICES COME BACK TO EARTH Lumber’s staggering run during the pandemic has finally come to an end. In fact, prices have fallen so dramatically that they are down over 30% year-to-date. Lumber saw it’s all-time high of $1733, per thousand board feet, during futures trading. The seemingly exponential price trend caused many stores and […]
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Uncategorized Market Update July 7, 2021 GIG HARBOR PRICES SLOWING Gig Harbor’s housing prices have taken a breather in their linear price appreciation trajectory. We saw median prices in the Harbor increase by $5,990 since May ($734,000 to $799,000). While this is nothing to scoff at, it is only any increase of 0.8%. Comparing this to Pierce County’s average increase of […]
Uncategorized Market Update June 30, 2021 GIG HARBOR RANKS TOP 4 IN PLACES TO RETIRE IN ALL OF US – SMART ASSET Lucky you! Smart Asset recently released it’s top 10 places to retire in the US. Just two west coast cities made the cut: Beverley Hills, CA and Gig Harbor! Smart Asset’s top three criteria they analyzed were tax-friendliness, medical […]
Uncategorized Market Update June 23, 2021 ANYONE YOU KNOW NEED A CRASH COURSE ON BECOMING A HOME OWNER? Look no further! I’ve just released my first installment of my crash course over the weekend! If you have anyone in your life that is looking to buy their first home and don’t know where to start, send them this link! https://youtube.com/playlist? list=PLPAJfDp551F1b9P45YNY10qFLwtjFaRl9 […]
Uncategorized Market Update June 16, 2021 ANOTHER INFLATION WORRYWART Last week it was Deutsche Bank. This week it’s Jamie Dimon, CEO of JPMorgan. His belief is that the inflation trend that we’re currently experiencing is less than transitory and is there for hoarding cash. His strategy is to wait for the Fed who will have to inevitably raise interest rates to […]
Uncategorized Market Update June 9, 2021 HOWS THE MARKET? A common question to a complicated topic. Since the COVID housing frenzy started, the answer has been, “it’s tough if you’re a buyer,” for almost a year now. A while back, I noticed an uptick of listing back in April as well as in May. Here we can see this trend in […]
Uncategorized Market Update June 2, 2021 GOT POOL? I’ll keep this email short so you can enjoy this beautiful weather we’re having. With that perfect segue… in case your house has a pool, you’ll be please to find that the summer heat is making your house more desirable. Last year (prior to COVID), houses with pools sold for an additional $16,137 […]
Uncategorized Market Update May 26, 2021 TL DW: MARKET UPDATE Today I’m taking a backseat and giving a short summary to Windermere’s own Matthew Gardener’s market update on the housing bubble. If you’re interest in watching his video in its entirety, you can find it here. Here are the key takeaways… Introduction: Home prices have rising faster than wages Wages up […]
Uncategorized Market Update May 19, 2021 TODAY’S BIGGEST HEADLINE IS ABOUT BITCOIN Today’s headlines are dominated by the crypto market. Plenty of speculation is going around what was the cause for bitcoin losing over half it’s value in just a few trading days. Fingers point anywhere from Elon Musk’s tweets stating that Tesla will no longer accept bitcoin, to the People’s […]
Uncategorized Market Update May 12, 2021 “SURPRISE” INFLATION DATA To all those that have been keeping up with my weekly insights, it should come to no surprise to hear that today’s “hot inflation data” showed that inflation accelerated at its fastest pace since 2008. Wall street experts predicted a 3.6% increase in the CPI (Consumer Price Index), but according to the […]
Uncategorized Market Update May 5, 2021 SO LONG 1031 EXCHANGE?! WHAT THIS WOULD MEAN FOR THE MIDDLE CLASS To help pay for his $1.9 trillion dollar economic plan, President Biden wants to put a $500,000 cap on the 1031 Exchange. The 1031 has been around since the 1920s and allows taxes to be deferred essentially indefinitely on investment real estate due […]
Uncategorized Market Update April 21, 2021 NEW CAPITAL GAINS TAX PROPOSAL: ARE YOU EXEMPT? To pay for his $3 trillion dollar infrastructure plan, President Biden wants to change the way capital gains taxes are administered after death. Currently, when someone inherits property or investments, they aren’t taxed on the appreciation that took place before they gained control of the asset. This […]
Uncategorized Market Update April 21, 2021 LAST MINUTE TAX TIPS FOR HOMEOWNERS This year federal incomes taxes are due on May 17th. While some of us might be guilty of procrastinating (after all we still have almost a whole month left!). Here is a list of tips that might save you some money: Tip 1 – rather than taking the standard […]