The Tacoma real estate market is one of the hottest in the country right now. Tacoma’s attractive median home price, proximity to Seattle, and strong long term outlook has attracted an increasing amount of interest from real estate investors across the country. Whether you’re a longtime Tacoman ready to buy your first house or you’re a seasoned investor interested in multi-family properties, we have all of the information you’ll need to make smart and savvy investments.
Buying: What is the Tacoma real estate market like for investors?
Tacoma’s real estate values have risen consistently over the last five years. Investors in single and multi-family homes have long seen the value of properties in Tacoma, and the market is moving much more quickly these days. In this video, MovetoTacoma.com creator Marguerite Martin sat down with Tacoma agent and appraiser Anders for some in-depth talk on what opportunities remain to successfully invest in Tacoma real estate.
Do you have questions about investing in Tacoma real estate? Contact Marguerite.
Selling: If I don’t live in Tacoma right now, how do I sell my rental property in Tacoma?
Tacoma is experiencing historically low inventory. This is good news for sellers, with properties selling quickly and often with multiple offers. If you have a rental in Tacoma and live out of state, it would be GREAT if you could sell it to someone who wants to live in the community. We need your house!
MoveToTacoma.com creator Marguerite sat down with her friend and seller’s agent Regina. Regina specializes in helping sellers out of state prepare their homes for sale. This is a special skill set because Regina and her whole squad of folks know which things need to be done to help you sell quickly for the most money, and which things are totally not worth it.
*** During Covid-19 there are a number of additional laws and protections for tenants that make selling a rental even more complex. Now more than ever hiring an expert that will help you navigate the process while preserving tenants rights and keeping you on the right side of the law is essential.***
Interested in selling your rental in Tacoma? Contact Marguerite.
What is it like being a Tacoma real estate investor?
Local Real Estate Agent Michael Robinson bought his first house (in Tacoma’s West End) in the late 1970s when he was 18 years old after selling his dirtbike to get the downpayment.
“I had a roomate,” says Michael. “And the amount of rent I charged my roomate covered my payment.” Today he owns many investment properties (most in Tacoma) as well as a local real estate company (also in Tacoma). In this episode of the Move to Tacoma podcast, we asked him to share what he’s learned after several decades of investing in the Tacoma real estate market and how to avoid some common mistakes new investors make.
Here are some of the topics he touches on in our conversation:
- Start with your own house as your first investment
- The beauty of owner occupied financing
- Time is your greatest asset (buy something, take care of it, and let it ride!)
- Treating your properties like the business they are
- Market cycles will come and go, how to make it through
- Managing yourself vs hiring a property management company
In addition to speaking about the how to’s of renting out homes in Tacoma, we also discussed the local housing market in general and what he thinks are the opportunities for investors in our current market. Click here to listen to the complete podcast episode with Michael Robinson.
I’m a first time buyer, but I want my first property to be a good investment. Maybe even owner occupy a multifamily property in Tacoma. How do I do that?
The Tacoma housing market is now officially the hottest housing market in the country. The median home price for a house in Pierce County is now $397,000, and the median family income is more like $60,000. Unless you have generational wealth, a windfall, or very generous friends- you could be feeling discouraged. And we wouldn’t blame you.
MovetoTacoma.com Creator Marguerite is talking to her friend, fellow agent, and former real estate appraiser Anders. They discuss some creative ways that normal folks in Tacoma can become homeowners in Tacoma’s blazing hot market without overextending themselves financially.
Interested in learning more about creative ways to buy in Tacoma? Contact Marguerite.
Is being a Landlord in Tacoma right for you?
Homeowners become unintentional landlords for a variety of reasons (think: job transfers, divorce, new babies, etc.) However, thanks to the robust rental market here in Tacoma, we’ve been hearing from many people who are renting their homes by choice. If that sounds like you, but you don’t know where to start, listen in to this discussion between Anne Jones and Marguerite Martin.
Think being a landlord is right for you and ready to invest in Tacoma real estate? Contact Marguerite.
Should I buy a townhouse or a condo as an investment in Tacoma? What’s the difference?
In this video, Tacoma Real Estate Agent Marguerite talks about the difference between buying a condo and buying a townhouse. The differences are huge when it comes to getting a loan, maintenance costs, and appreciation! Sometimes, condos look like townhouses (like Tacoma’s City Steps) but they are actually condos.
Have a question about buying a townhouse as an investment in Tacoma? Contact Marguerite.
Additional resources for Tacoma real estate investors:
What you get for your money in each neighborhood in Tacoma
A breakdown of Tacoma home prices in Tacoma by neighborhood
What you get for your money in cities across Pierce County
How much it costs to buy in Tacoma’s most expensive neighborhoods
Want to invest in waterfront or water view properties? Check out our post about waterfront and water view neighborhoods in Tacoma.
As experienced investors know, buying and selling investment properties in Tacoma is more complex than regular real estate transactions.
Marguerite has been working in Tacoma real estate for over 15 years, and she knows all the best agents.
If you’re looking to buy or sell an investment property in Tacoma she can help connect you to an experienced agent who specializes in the type of investment property you are transacting.