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Everyone's gossiping about Downtown Tacoma Condos These Days

Everywhere I go these days, people are asking about the Downtown Tacoma real estate market. “It seems like it’s picking up! Is it picking up?”  The answer is, it depends on the price range and it depends on where we’re talking about.  Over the next couple days I’m going to talk Tacoma (as usual) starting with Downtown Tacoma Condos in 98402.

Right now there are 11 pending condos, half of those are at 505 Broadway, which has been rewarded for its aggressive price reductions with lots of closed sales. It would be great to see The Roberson and The Esplanade (once it’s done being forclosed on and relists as bank owned foreclosures or whatever they decide to do) follow 505 Broadway’s lead and start pricing to sell.

So far this year there are 21 closed condo sales. The median sale price of a condo in downtown Tacoma is $308,415 for 1,214 square feet with a low price of $131,000 for a studio at Cliff Street Lofts and a high of $742,650 for 1,919 square foot palace at 505 Broadway.  Here’s the breakdown:

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Outside of Cliff Street Lofts

Cliff Street Loft #206

This loft at Cliff Street is a really great deal.  It was just listed by Foreclosure Specialist Pamela Vanderlinda at Parkside Realty.

At 980+ square feet, It has 16 foot high open beam ceilings, big tall windows that look over the port & Mt Rainier, and exposed brick walls. It’s basically everyone’s big hip urban loft fantasy come true.  Not only that, going FHA, your payment including Homeowners Dues, Mortgage Insurance, Taxes, etc would be around $1200/month. This is my favorite downtown Condo this week. I love it. Anyone want to go see it? It’s awesome. More pics after the jump.

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View from Cliff Street Loft #405

With the huge number of condos on the market right now, it’s always worth paying attention to the ones that sell.  This Studio Loft at Cliff Street Lofts on 1120 Cliff Ave Downtown was a bank owned foreclosure.  It was listed for $131,900 and sold for $131,000.

It has a great view of the Mountain and the City.  It’s a studio, with super high ceilings and an open modern kitchen with newer appliances.

The homeowners dues are $151/month on this unit, so if you were getting an FHA loan your payment with everything would probably be between 1100-1200 month.   Read the rest of this entry »

View From Unit #401 at Cliff Street Lofts

This might sound a little strange, but sometimes I get a little attached to certain properties.  That happened with Unit #401 at Cliff Street Lofts.  A 1 Bedroom, 1 Bath Loft with 14 Foot Ceilings.  

What I loved most was that it was on the corner, shaped like and “L”  so there was TONS of light and a really open feel.   The angle meant you had a view of both the port AND the mountain.  I showed it a few times but did not have a client that clicked with it the way I did.

It sold for $174,000 and closed today.  I hope the new buyer loves it as much as I did! Pictures after the jump.

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