Tuesday, October 15, 2019 / by Ariadne Gold
With all of the talk about an early winter (we had snow before it was even October!), I know a lot of people are wondering what the real estate market looks like right now.
Here are the facts. We are currently at 1.2 months of inventory, compared to 3 months of inventory in October of last year. This means that if no more new homes entered the market, the current homes would sell in about 1.2 months. It also means that we are still in a seller’s market. A balanced market is about five to six months of inventory; anything below that is a sellers market, and anything above it is a buyer’s market. 1.2 is low, and is shown by the fact that we continue to have multiple offers and listings selling for far above asking price!
The Spokane Real Estate Market has had 163 new homes come on the market this week, and 774 homes sold in the last 30 days. The average days on market is about 25, compared to about 50 in October of last year. The average list price vs sold price is sligh ...
Monday, August 26, 2019 / by Dixie Simon
If you’re on the home-buying journey for the first time or the first time in a long time, you may have the image of the “perfect” home in mind — every wall a color you love, the best flooring, and the perfect backyard. While there’s a chance you may find your dream house, it is more likely that you’ll find that house with a few exceptions. So where should you draw the line? Are there things you should ignore if the price and location are right? The answer is yes! There are some things you can ignore while home shopping if, it means checking the rest of your boxes. Here are some of the things you can overlook if you are considering making an offer on a home that has the perfect location or layout.
While it may be tempting to wait for a home with new carpet or freshly painted white walls, overlooking old carpet or vibrant wallpaper can help you get your otherwise dream-home. Replacing the carpet or painting the walls do ...
Monday, July 1, 2019 / by Jody Lee
Regular house-hunting isn't always easy, but adding distance into the mix can present challenges you don't have when looking over a few neighborhoods for a new home. While it may not be a walk in the park to buy a home from far away, it is possible. If you find a great agent and follow these steps, you can take away some of the stress that comes with moving long-distance.
1. Start Your Research
Knowing what is in your neighborhood is something we tend to take for granted. You know where the best sushi place is and exactly what grocery store is closest to your home for those last-minute runs. When moving to a new neighborhood, especially in a new state, it is key to decide what is important to you when it comes to proximity. Does your new house need to be near a park for your kids? Do you need to be 5 minutes from the closest coffee shop? You'll also want to look into crime rates and school ratings if you have children. Researching your potential neighborhoods will help you feel bette ...
Sunday, May 26, 2019 / by Connie Tracy
You have been searching for a home for months and finally got an offer accepted and then....the house doesn't appraise for the negotiated price.
TAKE A DEEP BREATH
It can be heart wrenching for the buyer and seller if the deal falls apart because of the appraisal. Low appraisals happen more often than you might think, especially in rising markets.
Sometimes there are not enough comparable sales applicable to the home you want, or maybe distressed sales have conflicted with the appraisal.
Generally, lenders will only lend funds up to a certain percentage of the appraised value. If the appraisal is lower than your offer, you may need to come up with more cash.. but there are other options.
1. Look over the appraisal contingency in your contract.
The appraisal contingency clause built into the contract allows you to reevaluate the situation or renegotiate if needed. But sometimes, even with this clause, you may end up spending more or j ...
Monday, April 29, 2019 / by Elizabeth Sorensen
In this DIY-age, it is easy to want to do everything by yourself. Saving money is great, and there are so many things today that we can do on our own after a simple Google search and a YouTube video or two. While sometimes doing it yourself saves you a few dollars, that isn’t always the case when selling your home.
When looking at it from the outside, the For Sale By Owner option, or FSBO, may seem great. With a standard Realtor commission of 5-6%, wouldn’t it make sense to save yourself that money? Think again. In most cases, people choosing to take the FSBO route end up losing more than that when they try to sell on their own. Here are a few reasons to consider forgoing FSBO and hiring an agent.
1. Keeping emotions out can be difficult
Your home typically means something to you. It is where you’ve created memories. Because of that, it can be difficult to remove your emotions from a sale. Agents are there to be a mediator for rejections or nega ...