Looking at the Housing Market in Pierce County 01-2009

I was thinking about the story the News Tribune did on the pending sales increasing in Pierce County.  After reading the story, I felt like there was still more information needed to fill in the cracks.  So I got off my lazy bum and ran the numbers.  These are the two main questions I had:

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Pending Sales in Pierce County Increase 26%

The News Tribune is reporting that Pending Sales in Pierce County have increased by 26%.  This is great news for sellers- pending sales take competing properties off the market.  If I was a buyer, I wouldn’t be too freaked out, there are still 6,183 properties to choose from- but that number is declining as well. People who don’t have to sell are removing their houses from the market.   

The bottom line is fewer houses on the market + more pending sales = Stabilizing Home Prices.

Helpful Post on Buying Foreclosed/Bank Owned Properties from an Arizona Realtor

A friend of mine recently told me that she just closed on a 220k bank owned house in Arizona, 4 bedrooms, 4000 square feet, complete with a pool.  She wants to retire there.  She’s 35…

Anyways, Arizona has seen a very large supply of bank owned homes on the market, and they’ve been dealing with them a bit longer than we have.  The things agents down there have learned can definetly be applied to purchasing foreclosed properties here in Tacoma.

Arizona Realtor Chuck Willman wrote a great post on making offers on bank owned houses. Check it out.