Submitted by Kevin Grossman
Are you looking for a great value on owning a home for you, your kids or a friend? Do you want to be walking distance to great parks, schools, a short drive to groceries and regional transit options just a few minutes away? Looking, also for a possible great investment? Yes, you can have all that, and with an affordable price, too! Sweet deals and music to your ears.
Whether it’s walking around Wapato Lake or heartier excursions through Swan Creek Parks, S.E. Tacoma is a walker’s dream. There are at least 9 parks within a mile and a half of S. 56th and Pacific Ave. S. If you’re into bike riding, there are designated bike routes with great access to do a pleasant 15 mile loop out to Puyallup, Point Defiance or Chamber’s Bay and back. The restaurants are regionally known – like Top of Tacoma, Vuelve a la Vida, Vien Dong, Helen’s & Connie’s Dognuts, and Uncle Therms, to name just a few.
The mainstream buzz is that Tacoma like much of King County is becoming too expensive. But that’s not quite true. Let’s look the numbers a bit.
According to State data, the middle earning family in Tacoma is making about $60,000. In S.E. Tacoma, there are currently 73 homes on the market ranging from $115,000 to $339,500 *. The image here represents a newer listing on 48th listed at $220,000 (October 2017). With a loan like the popular FHA 3.5% down (of the purchase price) or using one of the Washington State Housing Finance Commission first time home buyer, or down payment assistance programs, the monthly principal, interest, tax and insurance payment will be in the neighborhood of $1,200 a month – less than renting! **
Look no further – South East Tacoma has lots of great homes to choose from!
While Tacoma prices have gone up a lot in the last couple of years, we’ve gone from super affordable to still very affordable for many folks who want to move from renting to owning. Check with your local real estate broker to get more information about the opportunities in the wonderful areas of the South end and Eastside of Tacoma! They can not only help with the property searches, but help connect you to resources you may need whether your buying your first home or have owned homes before.
* 10/25/2017, information courtesy of the Northwest Multiple Listing Service and Grossman Services, Inc.
** You need to check with a lender regarding all the fees and requirements regarding a loan – this article is only providing an example for general discussion purposes.
Kevin Grossman is a Community Advocate in South East Tacoma, a licensed real estate broker and developer who enjoys bringing old buildings back to life, and lives in and loves this area! He is President of the Tacoma Cross District Association (of Neighborhood Business Districts) aka Experience Tacoma and an Advisory Board Member of SpaceWorks Tacoma and Past President of the Hilltop Business Association.