Get Real Tacoma

The News Tribune did an excellent article today about the 2009 Property Tax Assessments that came out on Friday in Pierce County.

I thought this article was very well researched and (however you feel about property taxes) gives good insight into what they’re thinking over at the Assessor Treasurers Office.

Here is a link to the cities (including Tacoma!) that actually saw DECREASES in property taxes this year.

On average, property tax bills went down for Tacomans by -.87%. We were joined by UP (-1.3%), Fife (11.43%), Puyallup (3.66%), Fircrest (1.44%), and Lakewood (1.34%). Certainly the pecentage of property tax we’re paying does not reflect the loss of value in these same areas, which is the focus of much of the News Tribune’s Article.

For more Tacoma Real Estate Information visit Get Real Tacoma.

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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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.