Why Settle For a Condo? ( 5. June 2006, 11:26 by Derek Young) ~ Why Buy A Big Home?
I often hear that there aren’t any bargains left in Tacoma. The age of bargains ended like five years ago. Well, here’s an example of something inexpensive that could’ve been yours. Small homes are very ‘in’ right now. We can ignore that it looks like a garden shed. Or that it may not actually front a street. It’s cheap at less than $100k and it’s in an up and coming neighborhood. We don’t see homes on lots like this that often…
It’s currently ‘subject to inspection’, but that could change.
Listed with Keller Williams, but we can’t find it. So here’s Windermere
Commenting Is Closed
Comments are allowed for two weeks from the posted date. If you want to make a comment or reopen this discussion, please contact us with your request. Thank you for visiting.
For those wondering, please click on the link and try to not laugh. I won’t spoil it by telling you the house that is shown.
1 | Posted by Erik | Jun 5, 03:10 PM
Thanks for posting this. With enough money down that little place would cost less to pay for than I pay in rent each month. I’m going to look into it.
Very cool.
Thanks again.
3 | Posted by Chris | Jun 5, 05:10 PM
I took a walk down there and took some pictures. It’s what we in urban studies call a “granny flat” or a detatched apartment. It’s a kind of in-fill housing that is supposed to increase density in single family areas and provide cheaper housing.
I wouldn’t say that it was a looker, but I know that I could do a thing or two with it. It is seriously a stones throw a way from the grocery store and only a block or two away from where the Jim Walton MLK Renaissance Project (http://www.exit133.com/532/mlk-redevelopment-rfp-released) is going to be built.
The problem that I’ve got with it is that according to the Pierce County Assessor (http://www.piercecountywa.org/cfapps/atr/ePIP/sales.cfm?parcel=2011270071- the building and the land were just assessed for $53,000 and it was just bought for only $38,749 by its present owners less than two years ago.
Now they want to sell it for $89,500. Quite a hefty profit if they pulled it off.
4 | Posted by Chris | Jun 5, 06:57 PM
414 sq ft? I’ve got closets bigger than that!
A (long) while ago, Exit133 ran an article on modular homes. Cute little boxes you could set up for some contemporary compact living. Match it up with a new SMART car and away you go. It would be interesting to dig up that link and compare the amenties. Derek – You still got that piece laying around?
5 | Posted by Davest | Jun 6, 09:40 PM
Because it is an older home, you should be able to tear it down and rebuild something without an issue from the city. I believe if the lot was around prior to 1955 (?) and is sub-standard (under 5k sqft) you can build without many variance issues. Lots in the neighborhood go for around $75-90k so it might make sense. I am sure something interesting could be built there.
6 | Posted by Jake | Jun 7, 06:39 AM
Honestly, it doesn’t look that bad to me. Small, yes, but it has the basic amenities of an apartment, a storage area beneath, and a carport. Slap a bit of paint on it (inside and out), do some landscaping, voila! It could be downright homey for a single person or a couple.
Probably a moot point for anyone here unless the current offer is taken off of the table…
Here’s another sub-100k house down near Fern Hill… Link to Windermere
These cheap properties would work perfect for a First Time Buyer. Use the Cities Downpayment Assistance money and you are set!
8 | Posted by Jake | Jun 7, 09:15 AM
I googled exactly where the Fern Hill house is…someone should really jump on that, it’s a great opportunity for some sweat equity whether they are looking for a good starter (or downsize) or just want to fix up and flip.
2 blocks from the Fern Hill Business District on Park, relatively short walk to the Fred Meyer at 72nd and Pacific for groceries, near the bus line and parks, but on what looks like it would be a relatively un-busy street (the next block north dead-ends).
Just take off the shutters, for goodness sake!
I thought an Albertson’s was going in right there on 84th and Pacific, Haven’t heard much about it lately.
11 | Posted by Jake | Jun 7, 12:56 PM
Commenting is closed for this article.
