Pam Fisher started in real estate in 2003 and created her own firm in 2020. Pam Fisher Properties specializes in residential resale and new construction for single-family homes but also works with vacant land, multi-family, condos and townhomes. Pam helps buyers and sellers in the Greater Puget Sound Region, primarily in DuPont, Lacey, Olympia, Puyallup and communities surrounding JBLM.
The housing market has been tough over the last few years due to a lack of inventory. Many builders stopped or slowed production from 2008 to 2015, and because so many people are migrating to our area, Millennials getting into the housing market, people living longer and aging in place, all creating a real scarcity of housing. Supply and demand, along with low-interest rates up until Spring 2022, have created the perfect storm for a seller’s market. We currently have about two to three weeks of inventory, meaning if no other homes were listed, we would be out of homes to sell!
“In a more balanced market, a market with three to six months of inventory, like we had in 2014 to 2016, buyers are able to negotiate price, have inspections and ask for health and safety related repairs”. “However, since 2017 or so, it has gotten increasingly challenging for buyers. A home will be listed on Thursday, and if the home is priced close to market value, not overpriced, they will have multiple offers by the end of the weekend. As a buyer’s agent, I educate my clients that our competitors may waive inspections, offer appraisal gap funds to make up the difference in case of a low appraisal, give sellers extra time to stay in the home past closing, even offer to take the home as is without repairs or cleaning! So, we need to be as competitive as we can be to get the home.”
“Currently, since the shift in the market this spring, interest rates have returned to what they were in the 2005 to 2007 timeframe and that’s causing prices to level off. I remind my buyers that we are marrying the house, not the rate, and once rates settle back down, you can refinance if desired.”
Despite the ups and downs, the housing market is worth checking out. “I would say if you were established with your employment and have saved money for your down payment and other costs, it is almost always a good time to buy.” “It is always better to invest in your own future as opposed to a landlord’s unless you are in a more temporary situation like after a life change. Owning a home is a great investment in yourself and your future. When you own your own home, you can plant a garden, paint and remodel, everything you would want to do but might not be able to do in a rental. The sense of satisfaction and accomplishment, putting down roots, is a great feeling for sure!”
Pam is a USAF Veteran, and her husband is a Retired Army Scout. “Most of my clients are active duty or prior service.” “I would say about 25% of my military families buy before they even PCS, so being their boots on the ground as their representative is even more crucial.” “My son, Bradley Nibblett, is a broker in my real estate firm,” she adds. “He will go to the home and create a video, walking them through the home, commenting on the features both good and bad and even smells, noises, the area and more.”
After her time in the Air Force, Fisher was a teacher for eight years. “I felt my calling was in real estate because I grew up with my dad working full time but also buying small homes, fixing them up, renting then selling,” she says about her career change. “I always loved design, and instead of playing with dolls growing up, I would draw houses and floor plans.”
“Being a real estate broker is such a fulfilling profession because it is personal,” she continues. “Think about when you are buying a home, you need a partner by your side. It is not just a transaction. You want a friend and adviser there with you. The best part of my job is that I have made so many friends along the way, and I feel like my family grows every time I hand keys to my clients or shake the hand of a happy seller who was able to navigate through the transaction seamlessly without problems. My goal is to make the process as smooth as possible, so my clients can be secure knowing everything is going to be just fine, and close with a minimal amount of stress.”
When you’re ready to start the journey, give Pam Fisher a call at 253.224.0913 or email pamfisherproperties@gmail.com. And when it’s time to get that potential dream home inspected, contact Boggs Inspection Services at 360.480.9602.
