Archive for November, 2008
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Nov
29
Posted by Matt Thomson
My 2009 Gig Harbor photo calendar is done, I just need to wait to get it shipped back to me. Several folks have ordered one (and some more than one) for $15. If you’d like one (or more), please email me at mthomson@kw.com. I don’t know of any other Gig Harbor calendars that are available. I heard that the Elks puts one out, but I’ve never seen it. This year, my calendar includes photos from 3 other great photographers in the Gig Harbor area. Below is a sneak peak at the photos that are used. Like everything this time of year, “It makes a great gift!”
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Nov
28
Posted by Matt Thomson
What a great weekend to get out and see some of the best houses that Gig Harbor has for sale. If you’ve got family in town for Thanksgiving weekend, I’d recommend heading over to Peninsula High School for their annual Winterfest, and then taking some time on Sunday to hit Gig Harbor’s open houses. This is the weekend that many of the area brokerages get together and have a waterfront home tour around Gig Harbor. There are also many other options, including new construction homes for under $200k on the Key Peninsula, and I’ll be hosting an open house in the brand new gated community of The Highlands at Rosedale, Chaffey Homes’ new project. I’d love to see you on Sunday and invite you to tour these great new homes. For an interactive map of all of Gig Harbor’s open houses this weekend, click here.
The Highlands at Rosedale
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Nov
28
Posted by Matt Thomson
Lots of home owners in Gig Harbor have decided to remodel their current homes rather than try to sell. In many cases, that’s not a bad idea. But what projects actually pay? As a Gig Harbor real estate agent, I tell my clients to remember that most home improvement projects don’t add value to a home, but instead make your home more marketable. For example, re-doing your outdated kitchen won’t make your $320k home worth $340k, but it may make your $320k home that would have sold in 90 days sell in 30 days (numbers are purely hypothetical). Realtor Magazine recently posted their list of “Project Paybacks.” Here’s some of the results.
For the Seattle real estate market, a kitchen remodel on average cost $22,476 and recouped 100.5% of its value. A bathroom remodel, on the other hand, cost an average of $57,433 and recouped 84.7% of cost. I’m not a contractor, but I was shocked to see that a bathroom remodel cost more than double a kitchen remodel. Anybody who has done both or either, I’d love to hear your stories.
Here are some interesting comparisons. In our market, a back-up generator recouped 66.4% of its cost (estimated at $16,026, which seems really high to me). In New England, that same upgrade only recouped 44.7% of cost. A new wood deck in our market recoups 97.1% of its cost, whereas a composite deck only recoups 87.6%. Those are both more than 20% higher than the New England and Mid Atlantic markets. Replacing your windows with new vinyl windows will recoup 93.1% of cost, over 15% higher than the same upgrade anywhere else in the nation. It is interesting to note that the Pacific region had a higher % of value recouped in nearly every renovation category than any other region in the US. This goes right along with the Forbes study released earlier this month predicting that the Seattle real estate market is the best market in the nation to invest in based on current prices and expected recovery.
I’d be very curious to hear your remodel stories, both good and bad. If you’d like more of the numbers, or want to know more about how the numbers are calculated, give me a call.
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Nov
27
Posted by Matt Thomson
Good grief, it’s been a week since I’ve posted. This is my longest draught since I started this blog 13 months ago. I believe that God wants us to be thankful in all situations for all that He has done for us. I don’t do that very well. So I guess today is a good reminder for me to be thankful, and hopefully I won’t treat Thanksgiving like New Year’s resolutions and I can carry my thankfulness further than into next week.
So, in no particular order and by no means complete, here is a rambling of what I’m thankful for:
My wife, my daughter, my wife’s tolerance of my flaws, my baby’s appreciation of me, my dog, living in Gig Harbor, Keller Williams and all that the company does to support me in my business, anybody still left reading my blog after my week hiatus, a nice comfortable home in a great neighborhood, a church that believes Christianity isn’t a religion but a relationship with Jesus Christ and being a follower of Christ means you act as Christ acted, parents who still support their 33 year old child, in-laws who support their 33 year-old son-in-law who may or may not be living up to their expectations for their daughter’s husband, two cars that get us where we need to go safely, all of the water around Gig Harbor that just makes nature feel alive here, a mentor from college who despite tragedies that would finish off most folks (okay, me for sure) shows an unwavering faith that God is sovereign and nothing that comes in his path on this earth can sway that, a college buddy who is facing life-threatening cancer at 33 years old but through his fears still maintains an attitude of thanks and assurance in his eternal salvation, a career that has let me turn several clients into friends I would have never otherwise met, my own maturation in realizing there’s more to life than sports (’cause otherwise I’d be depressed living in the Seattle area), great area photographers who let me enjoy and use their amazing work, co-workers who are genuinely interested in helping me succeed, the opportunity to have received a great education up through my master’s degree, the opportunity to have taught and coached some pretty amazing kids, the opportunity to move into something other than teaching ’cause it just wasn’t for me, having seen the sunrise over the ocean in Australia, having lived and skied in Park City before it was famous, the few months I lived in San Francisco, that my time in San Francisco was only a few months, for Westmont College and the true community that it creates, the way the sun is hitting the trees outside my window right now and how that lighting makes the greenbelt look, Americans who believe that freedom is so worth it that they’re willing to join the Armed Forces so folks like myself can sit behind a computer and openly discuss what I’m thankful for, a Creator who desires a friendship with me and has infinite patience to let that develop while I flounder around trying to figure things out.
Happy Thanksgiving.
I love this place
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Nov
21
Posted by Matt Thomson
Another very light weekend for open houses. Only 5, and I had to go out to Olalla to get a 5th. All are on Sunday, 1 open house in Olalla, 1 open house on Fox Island, and 3 in Gig Harbor. You can view the interactive map here.
Like this view? 3200sf big enough? Only $585,000 at 19 Point Fosdick Drive. I bet you can’t find a view like this at $176 per sf!
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Nov
20
Posted by Matt Thomson
Although Gig Harbor tends to be a fairly affluent town, there are still folks in tough positions that need help. With Thanksgiving right around the corner, there are hundreds of families in Gig Harbor and on the Key Peninsula who are unable to make any kind of a Thanksgiving dinner. Enter KW agent David Cathers and his gang of helpers. For years now (15 I believe he said), David has been organizing the Thanksgiving Basket Brigade.
This is an awesome opportunity for Gig Harbor residents to get involved in the community. I know church youth groups, girl scout troops, school classes, and our real estate office all jump in the fray to lend a hand. Our office has been gathering food for a few weeks, and there are 2 more chances for you to lend a hand. Tuesday night (November 25th) from 5-7pm, folks will meet at the Church of the Nazarene downtown Gig Harbor to sort all of the food donations (it should be mentioned that Costco and Albertsons have been very influential in donating food). Then on Wednesday (November 26th), volunteers will begin assembling baskets at 11am at the church. Then the fun happens. It’s (as one girl scout troop calls it) ding-dong ditch time. Volunteers will take the baskets to over 300 families in need, run the basket up to the door-step, ring the doorbell and run! This is an anonymous thing, and sometimes pride makes it hard to receive help. We don’t want anyone feeling awkward in anyway, so the meals are left and the volunteers scatter. If you’re looking for a great activity for your family, your home school co-op, your sports team, etc, this would be an awesome chance to get involved!
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Nov
20
Posted by Matt Thomson
Our real estate market is offering some great values for those who know how and where to look. Are you up to date on which properties are the best values in Gig Harbor and the surrounding area? How about 129′ of sandy waterfront with amazing postcard views of Mt Rainier, Vashon Island, and Point Defiance on over an acre of land, just minutes from downtown Gig Harbor for only $699,000? How about 3800sf on 1/2 acre, a stone’s throw from the Narrows Bridge in a great Gig Harbor neighborhood for only $380,000 (it needs to be finished out, but would you be willing to spend $380k, put $80k into a home, and have a home worth over $500k)? I maintain current, up to date “Best Buy” lists in several different categories (condos, view, rentals, first-time buyers, etc). Please email me or call me if you’d like to be included in my email updates of these great real estate buys. Please pass this information on to others who could benefit as well. Do you own your own company? Do you have employees who would be grateful if their boss helped them find a home at a great value? Send them my way. I’d be happy to help.
- Waterfront home for $699,000!
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Nov
19
Posted by Matt Thomson
All of the best investors know that “down” markets such as we’re currently in are the times to grab opportunities. Warren Buffet is commonly quoted as saying, “When others are greedy, be fearful. But when others are fearful, be greedy.” Fear has slowed our real estate market considerably. So how do you “get greedy” and take advantage of it?
I group land into 3 broad categories…vacant land in Gig Harbor is buildable, nothing on it, not developed. Raw land is just that, the dirt in Gig Harbor that isn’t developed and may never be. And finally there’s building sites. Vacant land where the work has been done and it’s ready to build. This opportunity is for a great building lot!
Here’s one opportunity. I’ve just listed a rare, gorgeous building lot in Gig Harbor. Those of you who live in the Harbor know that level home sites are rare. This one is 1.46 level acres, about 2 miles from downtown Gig Harbor and about 1 mile from Gig Harbor High School and Discovery Elementary School. This lot is the last street that the Peninsula School District will bus kids from; any closer and you get to walk! Imagine what you could do with nearly 1 1/2 level acres. How large would your yard be? Would you put in a sports court, a patio with a hot tub, the play house your kids have dreamed of?
The seller of this lot is a custom home builder in Gig Harbor, who is planning on building his own home on the adjoining parcel. He’d be happy to build your dream home on this lot for sale, or you can bring your own builder. My seller will gladly build your plans, or you can use his plans. A private well is already drilled just for your home, and a 4-bedroom septic is approved. How great would it be to have a new construction home in Gig Harbor built to suit your needs? You pick the floor plan, you choose the features, a brand new house on acreage close to town! The seller is interested in sharing a gated entry for the two homes as well!
This lot neighbors two of Gig Harbor’s premier gated communities, Millbrooke and Rosedale Ridge, so you get the close neighborhood feel that is so highly desired in Gig Harbor, but you get the peace and privacy of acreage too. I can’t tell you how many times I’ve heard, “I could’ve bought that…” or “I wish we’d have bought…” Take advantage of our market of opportunity and make this custom new home site yours for only $194,950. Call me or email me for more information.
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Nov
19
Posted by Matt Thomson
Gig Harbor is one of those little towns that just springs to life during the Holidays. Little tourist towns tend to be that way. As we approach Thanksgiving, and then into Christmas, there are several events around Gig Harbor that you may want to take part in. Here’s a few that I’m aware of, please feel free to add ones that you may be involved in or let me know your favorites.
I know that there are more events, but these are the ones that were highlighted for me. Last year we visited the living Nativity Scene which was amazing. I’m hoping it’s on again this year. The boat parade is a favorite of mine, also. Please let me know what your favorite holiday events are in Gig Harbor.
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Nov
16
Posted by Matt Thomson
The real estate market is hurting, even in Gig Harbor. There are some great opportunities in real estate due to this market shift, but let’s make sure we’re not confusing great opportunities with a stable market. The fact that our market is so unstable is exactly what is creating so many great opportunities.
Major home builders are finding Gig Harbor to be a tough road right now. Quadrant Homes, seen by many to be the counter force that would show the others how it’s done, seems to be the latest victim. I received an email stating that Quadrant was walking from their Gig Harbor new home project, The Ridge at Gig Harbor (in Gig Harbor North next to the Costco and YMCA). I called to confirm, and it seems that Quadrant will honor the home sales that have already been contracted at The Ridge, but building will stop for the time being. When I asked if they would resume building in the future or try and sell of the lots to other developers, they told me they didn’t know yet. I guess new construction homes in Gig Harbor in the mid-$200’s just wasn’t realistic.
Quadrant isn’t the only builder in Gig Harbor that is in trouble. 19 homes sit at Crescent View Estates on Peacock Hill, 1 has a contingent offer, the other 18 sit unsold after nearly 2 years. Chelsea Park on Hunt St is also having problems. Ron Hendrickson has successfully closed 4 homes, and Mike Paul just sold his first. Bennett Homes still sits with no sales. Bennett also hasn’t sold a single home in Harbor Hill, behind Target. ”Little Boat North” has sold 9 in there. Bask has yet to sell any homes in the upscale Salmon Bay Estates on Fox Island.
What do I gather from this? New home subdivisions are a tough go in Gig Harbor. Finding a builder to build you a custom home in Gig Harbor seems to be a much safer, better option. Gig Harbor is desirable largely due to all of the homes with space and privacy. This new trend of urban housing didn’t seem to take off. If you want a new home in Gig Harbor, while there are several options, I’d encourage you to take a look at the 1.46 acre building site I have listed, owned by a custom builder! It may be your least expensive and most equitable option!
When you’ve got 4 minutes to spare, enjoy this little parody on the real estate industry.
