Late Summer Missive

We are enjoying our new office space on the lower floor of Windermere on 19th and Orchard. The timing was perfect. The summer selling season didn’t even start until after we were settled in. We extend our thanks to the real estate market for this courtesy. Things have picked up—the phone is ringing and offers are coming in again. Recent volatility in the stock market hasn’t cooled buyers off–quite the contrary. With the volatility came even LOWER interest rates than we’ve been seeing for the past few years–rates around 4%! That has buyer’s attention at last; that and the fact that values have finally returned to a level commensurate with incomes here in Tacoma. While we are buoyed by this sudden increase in activity, any optimism is balanced with skepticism. We have seen a few false starts to recovery—times when we thought depreciation was a thing of the past, only to watch the market shed a few more percentage points. It’s going to happen when it happens. This past week saw yet ANOTHER national story on how Tacoma will see the greatest recovery and price appreciation of anywhere on planet Earth. This time it was the Wall Street Journal reporting it, citing Tacoma’s diverse economy. Here’s hoping the prognostications prove true!

Enjoy the rest of your summer!

Kindest regards to you, our clients and friends,

Tom