Tacoma is the Best Real Estate Market?

15 comments

• E Erik B. July 1, 2009

  Perhaps now is a time to buy given the values out there.

• J Jim C July 1, 2009

  I think I’m going to have to call “listicle” on this one. Not that I don’t agree that the NW’s economy and housing market are in better shape than most of the rest of the country, but the table on the Moneywatch site ranks the Metros by a given percentage and doesn’t define what that percentage is or what it is supposed to mean. On top of which these are projections, not data.

  I’d rather be known for being the “Most Sexually Healthy City” in America than the one with the most expensive housing.

• D Derek staff July 1, 2009

  but the table on the Moneywatch site ranks the Metros by a given percentage and doesn’t define what that percentage is or what it is supposed to mean.

  No kidding. We spent a fair amount of time trying to figure out if the 20% was a one year, 7 year, or some other time period change. We gave up.

• T Thorax O'Tool July 1, 2009

  “Tacoma Metro Area” are meaning basically the 253, or is this a sneaky way to hide using Seattle and Bellevue as well?
  After all, Tacoma is finally now down to just being expensive. Up in the 206 & 425, they’re still somewhere in orbit around the moon.

  First to rise is first to fall.
  Last to rise is last to fall.
  Those who rise the highest will fall the hardest.

• J Jesse July 2, 2009

  Derek @ #3: Tacoma is projected to grow 20.7% from 4th quarter of 2008 to fourth quarter 2013.

  It’s a good time to buy in t-town… so they say.

• K Katie July 2, 2009

  Andrew and I just moved from Tacoma to Boulder. So maybe its just us. We should rent ourselves out to Miami and just watch their market turn around.

  Maybe.

• H heather July 2, 2009

  Our average – but well priced – house outside Pt. Defiance sold in 7 days. I was shocked. Pleased but shocked considering everything I had heard on the news.

• P Patrick July 2, 2009

  Im not drinking any of their Koolaid!! These are the same guys that played a huge part in rating the sub-prime bonds that have caused an extreme hardship to the tax payers. I would rather seek out my own council when it comes to purchasing real estate. ( S&P owns case-schiller ) We all know that Tacoma is a great place to live, however, I’m not making a decision to purchase real estate based on what these corrupt S.O.B.‘s have to say.

• T tom waits July 2, 2009

  i shudder to think of what this must mean for the market elsewhere.

• A altered Chords July 2, 2009

  I am in full agreement with the Case SHiller findings. Their access to market data and ability to analyze data probably even exceeds that of Patrick in post #9.

  As a purchaser of Tacoma real estate in the 4th Quarte of ’08 I am most pleased to observe that I have purchased in what will be the top perfoming real estate market in the country over the next 5 years.

  I would like to give myself a AAA credit rating based on my Tacoma real estate holdings and will be holding a bond auction next week where Exit 133 bloggers will compete to lend me money.

• T Thorax O'Tool July 3, 2009

  I don’t want to get into this again.
  So I’ll repeat a few things I’ve said for the Nth time:

  9.5%+ unemployment and rising.
  Proper, if not strict lending standards.
  Thousands of REOs that banks are sitting on.
  Foreclosures & delinquencies are at record levels and rising… being led by prime mortgages!
  Stocks have stopped their bull run and are stagnating, further increasing the chances of another test of this year’s lows.
  $1.5 Trillion in ALT-As and Pay-option mortgages set to recast in 2009-2010
  Rising interest rates
  Continuing downward pressure on prices from distressed sales
  12 month’s supply of houses (5 is considered healthy)
  77 million baby boomers about to retire
  Obamanomics and bailouts resulting in tax increases
  etc…

  Point being: don’t bet the house on anything other than stagnation in housing once it stops freefalling. There will be no “recovery”, just a return to normalcy. This recession, like it or not, is the cure for our woes, not the disease.
  Don’t buy the propaganda of “green shoots” and stuff at face value. Do some thinking and research for yourself.

  Last thing before I shut up… Remember this statement:

  A depression is defined as a 10%+ decrease in GDP or a recession lasting longer than 36 months. “Officially” being in a depression is political suicide. As we approach 36 months, and as the GDP approaches being down 10% (we’re racing towards both), watch for the talking heads in DC and the MSM declare the recession to be over.
  ..and then amazingly we’re hit by another one! “Back to back” or “double-dip” recessions they’ll call it. But the truth will be obvious.

  …anything other than a 20% decrease in housing seems laughable. We’re special here. But not that special.

• J Jesse July 3, 2009

  Thorax: 20.7% growth is a five year estimate. FIVE years.

• T Thorax O'Tool July 3, 2009

  Yes, I did read that. Unless inflation skyrockets into orbit, I would expect 5 years from now to be down 20% from today. Certainly not up.

• A altered Chords July 3, 2009

  Thorax: are not the “talking heads” at MSM too busy making sandwiches to worry about economics?

  I do long for the days when we bloggers could talk about sandwiches all day.

  BTW – How can one “bet the house” if one does not own a house?

• S Sassy McButterpants July 5, 2009

  I miss the days of sandwich talk as well, Altered Chords…