The Tacoma real estate market is the hottest market in the country right now. Tacoma’s North End (and all of the neighborhoods within) is one of the most in-demand parts of this housing market. Demand is strong, and if you’re thinking of selling your home in the North End now is the time!
In this video, Tacoma real estate agent Marguerite sits down with her friend and colleague Anders. They talk about how to get the most money when you sell your North End home, how price is assessed in such a hot market, and how to make sure that any improvements you do before you sell will give you a return on that investment.
Here are a few big takeaways from this video:
Tacoma’s North End encompasses many smaller neighborhoods, so be careful when you’re looking at average home prices for the North End.
Anders points out that if you’re selling your home, you actually need to understand what home prices are like in your unique little microcosm of a neighborhood.
For example, at the beginning of 2021, the average North End property was around the low to mid $500s. However, more entry-level neighborhoods like maybe West Gate had home prices around the low $400s. More in-demand neighborhoods like the Stadium District had homes in the low to mid $800s. That’s a $400k difference in the “same” neighborhood!
It’s important that you know what you’re dealing with. Not having a solid understanding of what your home might actually be worth can result in you leaving money on the table when you go to sell your home.
If you’re a seller in the North End, do not start remodeling your kitchen or making big updates. You need to consult with a real estate agent who has local expertise in the North End, first!
Thinking about selling your house? You might assume that you have to update your kitchen, remodel your bathroom, get all new floors… but this might not be the case given the North End’s real estate market. In this video, Anders and Marguerite explain exactly why this is, and their advice to potential sellers boils down to one thing:
If you’re even just thinking about or considering the possibility of listing your home, do NOT do any work on it! Call your real estate agent right away to have them advise you on what updates you should (or should not do) to maximize the return on your investment. You don’t want to end up spending money on updates that you don’t have to do, or might not make your money back on.
Home trends change and your real estate agent will be able to advise you on what’s important to buyers right now.
For example, just a few years ago, the home office trend was on its way out. However, due to COVID-19, home offices are more popular than ever now! Having a place to work from home is really important to a lot of buyers at the moment. Trends come and go, and you’ll want to have a clear understanding of how your home fits into your local market. A real estate agent who is a local expert can help with that.
In this hot real estate market, move-up buyers are usually the most favored.
Those who already own a home and are looking to move up generally have a great advantage in this market. If your current home is closer to the median, you’re in a great position to sell and make the most on your investment.
Right now, it’s not a question or whether or not your home in Tacoma’s North End will sell.
It’s a matter of how much money you can make. What can you do to make sure your home sells for the most money possible? How do you avoid leaving money on the table? And how easy and stress-free do you want to be able to get to the next stage in your life?
Don’t be afraid of the current real estate conditions.
If you spend too much time listening to all of the hype, buying or selling might sound daunting. But according to Anders, you just need to make decisions from a strategic perspective and consult an expert. Understand what your goals are, and work from there.
Marguerite Martin is a different kind of Tacoma real estate agent. Reach out to find out answers to questions you have about neighborhoods in Tacoma and Pierce County. Marguerite can connect you with a local real estate agent who specializes in the neighborhoods you love most.
“I’m happy to introduce you to other agents I know to help find the perfect fit, at no cost to you!” – MovetoTacoma.com Creator Marguerite Martin