Keep your senses! Thinking of buying a home? In this market, buyers are trying to make their offers more appealing. One tactic is to present an offer above the list price. Not a bad move, as many sellers find more money appealing. But, cost can be more than dollars. Some buyers are “over paying” by mistakenly waiving protective contingencies just to get an offer accepted. Foregoing inspections, Continue Reading
Market Report – May 2018
Pushing the Limits In a hot market like we have this year, sellers are pushing listing price limits, attempting to capitalize on the rising sale prices. In 2017 from Jan-May, the market appreciated almost 11%. This year from Jan-May, average sale prices increased an astounding 17.5%. When selling your home, it’s critical to consider the market trends for the time of year. Historically, prices Continue Reading
Market Report – April 2018
Inventory remains low in the Spokane market at 1.77 months for April. However, did you know that different price ranges have different inventory levels? From 200K to 300K, the inventory is 1.4 months, but from 600K to 700K it’s a whopping 6.8 months! The inventory in different neighborhoods and geographic areas can also vary. Overall, inventory is low, but depending on price range and location Continue Reading
Take a “Day” Trip to the Ranch
Spring – 2018 (Article #1) In the heart of Green Bluff there is a farm deeply rooted in the traditions of old, yet its owners are branching out with new ideas too. A day trip to 9807 E Day Rd will lead you to Walters’ Fruit Ranch. The owners, Jason and Morghan Morrell, are stewards of the farm, a “working museum” as Jason calls it. Some trees are 110 years old, long outliving Continue Reading
Market Report – March 2018
High tide or low tide? Have you heard the saying, “A rising tide lifts all ships”? Well, does it? On the water, yes. How about real estate? Rising property values may raise home equity and may tempt more to sell, hoping to pocket this potential equity. The Spokane market has “lifted” a lot recently, including a lift in mortgage interest rates. Does this “rising tide” still lift all? Not really. Continue Reading
Market Report – February 2018
The Heat is On! Even though it’s still cold outside, this winter in Spokane is one of the hottest on record. The real estate market is red hot right now in price ranges under $350,000. Inventory is still very low, and with housing demand continuing to rise, it has created a buying frenzy. Buyers are submitting offers on homes, sometimes competing against 5, 10, even up to 15 other offers, as some Continue Reading
Real Estate Market 2017 – Year End Review
Winter/Spring – 2018 (Article #2) 2017 was a great year for the Spokane real estate market. Normally, values decline at the end of the year. Looking at the average sale price graph, in 2015 and 2016, fall values were lower than summer values. At the end of December 2017, values held steady at an average sale price of $234,352, roughly the same as summer values when selling activity was highest. Continue Reading
Water, Water Everywhere – LOT of drops to drill!
Winter/Spring – 2018 (Article #1) Relief from the restrictions of the Hirst ruling in October 2016 has finally come! This Washington Supreme Court decision dammed the flow of water from new wells, but it’s time to bathe in the refreshing good news from recent events. In my winter newsletter of 2017, I wrote an article called “Water, water everywhere – not a drop to drill” and highlighted the Continue Reading
Farmer Feature – Pine for Something More?
Fall/Winter – 2017 (Article) Do you pine for something more than presents this holiday season? Perhaps the best gift this year is simply time with family, friends, and your local farmers. Meet Mike & Lisa Beckman, owners of Legacy Farm and 238 Brewing located in the heart of GreenBluff. They offer a great family experience, and you can even get your gift fix there if you want. Legacy Farm Continue Reading
Spokane Real Estate Market: Hot or Not?
Summer/Fall – 2017 (Article #2) Many people are saying that it’s a seller’s market, but is that accurate? Yes and no. It depends on different factors. At the base of it all is supply and demand. If a lot of people want something, but there isn’t much of that something available, well, you’re going to pay a higher price. Remember the Tickle-me-Elmo Christmas craze years ago? There weren’t many Continue Reading
