Ever hear anyone say, “If you want a deal, buy a fixer-upper”? How accurate is that? When it’s slow and hard to sell a property, fixer-uppers can be a bargain and often sell for less than asking price. But, our market isn’t slow right now. If you’re trying to buy a home and frustrated because all the investors are “getting a deal,” think again. Over half of the fixer-uppers sold at or above list Continue Reading

Looking at market trends sometimes only yields facts; however, look deeper and those facts can indicate useful trends. In February, there were 277 3 & 4-bedroom (BR) home sales, while there were only 113 sales of 1, 2, 5, & 6 BR homes combined. First, if you’re a home buyer, your main competition is for 3-4 BR homes. Can you do with more or less than 3-4 BR? If so, you may have a better Continue Reading

Despite rising interest rates, the Spokane market is still active. In October, sold properties averaged 36 days on the market, which has held steady since April. Just like food has a shelf-life that’s good up to the expiration date, homes for sale also have a “market-life,” if you will. This year, expired listings almost had double the average days on market of sold properties each month. In Continue Reading

Playing the Odds One interesting real estate statistic is the “odds of selling,” which indicate the chance of a successful sale. For August 2018, the odds of selling are 58%. If you list your house for sale, there’s a decent possibility that it will sell. Conversely, there is a 42% chance that it will not sell. Obviously, not every property reaches the closing table. What makes the difference? If Continue Reading

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

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