WA State Real Estate Excise Tax – January 2020 Changes

WA State Real Estate Excise Tax – January 2020 Changes

Washington state passed Senate Bill 5998; Adjusting the Real Estate Excise Tax that home owners have to pay upon the sale of their Residential Home.

Prior to this change, home owners paid a total of 1.78% on the sales price of their property, regardless of price. January 2020, this will change and a tiered system will follow. 80% of home owners will benefit from this change, however 20% will be adversely affected. See the headline graphic, which summarizes the changes we will see come into play, starting January 2020.

If you are on the fence about selling your home and the current market value is more than 1.5Million, consider selling now. You could be saving yourself a lot of money you would otherwise be paying in excise tax come the new year.

Call/Text Realtor Jenny Wetzel with question (253)381-9788

 

Smart Buy in South Tacoma

Smart Buy in South Tacoma

Finding a parcel of land in the city, for under 100K now a days can as mind numbing as looking for a needle in a haystack. On this corner lot, your home is already here! And requires a fraction of the investment to start to cash flow or sell for a profit. Keep this home for yourself and your mortgage will be hundreds of dollars less per month than your rent! Mic drop. Efficient 528 square feet, with separate laundry room, galley style kitchen and eat-in space.

PROPERTY FEATURES:

  • 528 Square feet
  • 1bed/1bath
  • 3,250 square foot lot
  • 1 1/2 blocks from newly renovated, Stewart Middle School
  • 0.7 miles from Moore Library
  • 0.5 miles to Safeway
  • Pacific Avenue is just 2 blocks away! City of Tacoma has long term plans to renovate this business district

 

Nestled on a corner lot, here you’re just blocks from Pacific Avenue’s many conveniences.

Large double pane windows flow the living room with natural light

The living room offers so much potential, and the kitchen and dining nook are just steps away.

Embrace the vintage vibes or create the kitchen of your dreams. Washer and dryer are close by, making it easy to switch laundry loads while letting dinner simmer on the stove.

A cheerful dining nook is the perfect spot to sip a morning cup of coffee while you enjoy the natural light.

Flexible bedrooms are ready to be transformed with your unique style.

Enjoy having your very own backyard that’s brimming wit possibility—you might choose to install a patio or build a deck, or curate your own vegetable garden.

Looking to invest in a rental property? Based on other similar homes (1 bedroom, 1 bath) in the same neighborhood, this home could be comfortably rented for $1,000/month. It’s being sold for cash, BUT if you were to finance it for $100k after you completed repairs, at 4.5% your mortgage payment would be $730/month (which includes annual property taxes and insurance!). Check out a potential loan breakdown here.

Welcome to Tacoma’s Southside!

At 502 S 51st Street, you’re on a corner lot in a lovely residential setting, blocks away from one of South Tacoma’s most vibrant business districts; Pacific Avenue. Not to mention streets are wide for comfortable driving and great off-street parking throughout the day. Here’s just a few of the top amenities in the neighborhood:

  1. Tacoma Public Library (Moore Branch)

Located 0.4 miles from home, the Moore Branch of the Tacoma Public Library is practically in your backyard! Of course you can check out books here, but remember you can also check out DVDs and other media, take advantage of free activities and attend a wide range of events throughout the year.

  1. Vuelve a la Vida

Nestled right along Pacific Avenue just blocks from home, Vuelve a la Vida is a fantastic Mexican restaurant that people come from all over Tacoma to enjoy. Regulars and newbies  consistently rave about the food, so don’t be dissuaded by the unassuming exterior and simple interior. 

  1. Josephina’s

If you love Mexican food, then you’re seriously in luck with this location—Josephina’s is another neighborhood favorite and perfect if you’re looking for a sit-down restaurant with an inviting atmosphere. Family owned and operated since it’s existence.  Locals love the mouthwatering food—especially the Seafood Stew, Carne Asada, and the bean dip! Not to mention they serve a great margarita on the rocks. 😉 

  1. Stewart Middle School

Built in 1924; Stewart Middle School is one of Tacoma’s Historic schools. Modernized in 2017, it now has state of the art design and technology, to help kids learn and grow. The revelation focused on opening up classroom and common space for students. Having Stewart Middle School just 1 block from home is a huge convenience.  Easily participate in afternoon school activities and sports without feeling it consumes ALL your free time! Stewart also has a community garden, new track and large hill. When it snows, it’s the ultimate sledding spot! 

  1. Erica’s Peace and Love Ice Cream

So much more than just delicious ice cream—you’ll also find fresh juice, smoothies, salads, chocolate-covered strawberries, snow cones, and  many other desserts (several of which are Mexican favorites!). Be sure to follow Erica’s on Facebook for updates on offerings + deals.

CALL/TEXT Realtor Jenny Wetzel for more information on South Tacoma at (253) 381-9788. 

Tacoma, WA – Hottest Real Estate Market in the Nation and STILL Affordable

Tacoma, WA – Hottest Real Estate Market in the Nation and STILL Affordable

Well, the cats out of the bag! Rather than it being our little secret, it is national news; Tacoma, Washington is the hottest Real Estate Market in the nation.  For locals it brings a lot of mixed emotions. Some still want our little city to maintain its reputation of being the arm pit of Seattle (“stay away!”), while others are enthused to see new-comers contribute to our diverse melting pot of people, arts, talent and culture. I can relate to both.

For those of you interested in learning a little bit about our local Real Estate Market and better understanding some of the facts and numbers behind WHY our small town is on headline news, keep reading!

This chart from Patrick Stone (President & CEO of WFG National Title Insurance Company), illustrates Tacoma’s affordability compared to 10 other cities in the United States. Although our rent and home prices have increased dramatically over the last 4 years, we remain a very affordable city. Our median home value compared to our median annual salary is substantially more sustainable than that compared to Seattle and Denver; two Real Estate markets that we are frequently compared to. Good luck if you are wanting to live and work In San Francisco!

So now what? For a home buyer living in Tacoma, hoping to invest in their first home, next home or final living space and you find yourself pausing to contemplate if we are in yet another “bubble” similar to that of 2008, I say we are not.

The one thing that slowed our recovery after the market crash in 2008 and ’09 was the lack of a larger employer(s). We still don’t have that. And yet, I believe that the discovery of our unique city by Seattle-lites, Californians and people across the US and world, means that it really is only a matter of time before it happens. When it does, affordability will decrease, density will increase and many will be wondering why they didn’t catch the wave while they could.

On a final note, if you are looking to invest in your first home, this doesn’t mean stretching yourself paper thin! It may be worth some creative strategizing to get comfortable with your investment; consider investing in a home where you can collect rent, or invest in a home that supports multifamily living. Perhaps you explore different areas of Tacoma that are more affordable! Most of our city is accessible (by driving) in 15 minutes! Those in highly congested parts of the United States would drool over the opportunity to invest in a single-family home or condo that has such convenience!

Finally – hire a Realtor who can help you strategize, plan and be a part of your big transition. It’s not always easy, but It’s worth it.

Realtor Jenny Wetzel w/ Windermere Abode (253) 381-9788

Lakeland Hill Treasure

Lakeland Hill Treasure

Gated community in Lakeland Hills. Spacious master suite on main floor with large walk-in closets; designed and installed by California Closets. Remodeled kitchen w/ eat-in nook, granite countertops, gas stove + custom pullouts from Cal. Closets. A/C, brand new custom window treatment and new paint. Peek-a-boo view of Mt Rainier and private back deck that backs up to a private county road (no traffic!) Close to walking trails, restaurants, golf course & more! Live easily and stress free in a trusted and well managed community of Lakeland Hills. Come inside! 

Easy living is all yours in Lakeland Hills, a gated community that includes highlights like all exterior maintenance of your home and yard, and even a putting green! This home’s sellers (who also happen to be the original owners) have also especially appreciated the community atmosphere, all while having a strong sense of security and privacy.

Lakeland Hills Condominium - Jenny Wetzel Homes

Condo located in the private gated community – The Sorano in Lakeland Hills – Auburn, WA

Updated Galley-Style Kitchen wi eat-in nook – The morning sun & privacy you’ll love

Updated Galley Style Kitchen - Lakeland Hills Condos in Auburn, WA

Gas stove, Stainless steel Appliances and upgraded California Closets to optimize storage & use of space

Lakeland Hills Condo - Jenny Wetzel Homes

Vaulted Ceilings in the living/dining room right when you walk in. Efficient gas fireplace. Brand new window treatment stay with the home

Lakeland Hills Condo - Auburn, Wa

Large Master Suite on the main floor. Vaulted ceilings and large walk-in closet with Custom California inserts.

Lakeland Hills Condo - Auburn, WA

Large window, fresh paint paint and fresh paint. The space comfortably fits a California King bed. You’re going to love it here!

The Sorano in Lakeland Hills - Auburn, WA

The Sorano in Lakeland Hills – Gated, immaculately maintained year round and a location that is so convenient! Minutes from Downtown Auburn and Lake Tapps.

Lovingly maintained and thoughtfully updated, this residence features several upgrades including:

  • New paint
  • New granite counters
  • New window treatments
  • New gas fireplace
  • New Trex decking on the private back deck
  • New California closets in the master bedroom closets and kitchen (the pull-out drawers are so convenient!)

Roegner Park

Located just 1.5 miles from home (the perfect bike ride!), Roegner Park is 21+ acres of outdoor beauty and fun recreation. Nestled right along White River and the White River Trail, here you’ll find a playground, an off-leash dog area, a picnic shelter, and trails. Easy access to White River Trail offers a great starting point for the 4.5-mile trail that features views of the river, wildlife watching, fishing opportunities, and more. There’s even a soft service path along the trail that’s open to horses.

Putting Green in Lakeland Hills

Golf enthusiasts are in for a treat! Not only does Lakeland Hills have its own putting green, but at 5909 Panorama Dr #14 it’s practically in your backyard. Practice your swing without having to go far—it’s perfect for days when you want to spend time out on the green but don’t have time to go to the golf course!

Tapps Island Golf Course

Just 12 minutes from home, this scenic island golf course is right in the middle of Lake Tapps and accessible via a bridge. Enjoy a round of golf at this public course while taking in views of Mt. Rainier!

Lakeland Hills Elementary School

Imagine having the convenience of your local elementary school being just blocks from home—0.2 miles to be exact. Lakeland Hills Elementary School has grades Kindergarten through 5th, and is highly rated. You’re also close to the local middle school and high school.

Central & Convenient Location

One of this home’s seller’s favorite things about living here has been its wonderfully central location. Not only is it easy to get around Auburn, but with the city being in both Pierce County and King County, you’re close to several neighboring cities—South Hill/Puyallup, Federal Way, Tacoma, Kent, Des Moines, etc. are all within reach.

When you need to run errands, the Lakeland Town Center is only 1.1 miles away and here you’ll find places like Haggen Food & Pharmacy, Pet Pros, Puerto Vallarta, Great Clips, The Rock Wood Fired Pizza, Starbucks, Legendary Doughnuts and more. Plus, Downtown Auburn is only 4 miles from home and the Auburn Station (where commuters can catch the Sounder Train) is only 4.9 miles away.

TEXT/CALL Realtor Jenny Wetzel @ 253-381-9788