Friday, October 25, 2019 / by Shayla Morford
180 new, active or maybe "not so available" (under contract or even sold) homes came on the market since my last weekly update.
That's actually quite similar to this time last year (171 Homes).
When you take a look back at 2017, there were 137 homes available for purchasers.
And yet the market is far more competitive is seems now. rather than in 2017, where there was a decrease in inventory by nearly 25%.
One of the main factors would be the Federal Reserve fluctuating short term loan rates. This is done to try to slow the pace of demand for new residences. Not only are new construction homes not being built fast enough, sellers have extremely low monthly payments as they had secured a rate of 3%-or less. Rates are slowly creeping up, yet the employment rate is low and wages are rising.
We still are in a stimulated economy, as a whole, and this positive market trend looks to be insulated slightly by the Spokane area versus other ...
Tuesday, October 22, 2019 / by Katrina Miller
What is the first step of the home selling process?
You've made the decision to sell your home. Now what? I am sure you have so many thoughts rolling around in your head that you aren't clear on which direction to head. Below I have listed out three steps to take to ensure you feel confident.
1. Find a Realtor-
When you reach out to a Realtor they will be thrilled to take over the stress you are feeling and help you sort out any doubts or questions you have. Let's say you choose me (thanks, I owe ya one) I will set up a time to take a tour of your home. I will then head back to my office at Haven Real Estate and create a CMA (current market analysis). This report consists of 5 active listings within a few blocks of your home, 5 pending listing, and 5 sold listings that have sold in the last 6 months in your area. At that time we will go over pricing and agree upon a list price. We will weigh different factors like how many bedrooms, square feet, lot size, and ...
Saturday, April 27, 2019 / by Connie Tracy
Generally, a certified residential appraiser needs about six to eight hours to finish an entire appraisal. They start by researching the home. They look at the location... is it on a busy street or not and tax records. After that, they book the appointment and visit the house.
An appraisal home visit will take about an hour... for the most part. Sometimes, they may not need that much time if they are familiar with the area. The appraiser comes in and measures the square footage of the interior of the house, minus the garage or any space that isn't permitted. They make sure that the reported square footage is the same as the actual footage.
There are three important factors of the appraisal:
* the square footage of the home
* any home upgrades or renovations
* comparables (homes similar in size, age, condition, and location to the home that have sold within the past six months to a year)
THIS IS WHY IT IS IMPORTANT TO GET COMPS FROM AN REALTOR
The idea is th ...
Saturday, April 27, 2019 / by Connie Tracy
When choosing an agent, they should not only be good listeners, communicate, and be knowledgeable, they should EDUCATE, ADVOCATE, and NEGOTIATE for YOU!
Here are some tips to use while interviewing real estate agents for purchasing and selling homes:
Finding a Quality Agent:
You have found a lender. Lenders interact with tons of agents over the years and can usually point buyers in the right direction towards professional agents that provide the BEST customer service and efficient documentation to the lender. TRUST your lender's opinion, especially if the lender is local.
Friends and Family:
Know any friends and family that have recently sold or purchased a home? ASK them for suggestions! They will probably give you the BEST review of an agent and the experience they had with them... whether it was good or bad.
Check out Reviews:
How do buy online? We look at reviews! I know you are looking at Zillow, Realtor, and Trulia to ...
Friday, April 26, 2019 / by Pamela Glende
Spring is in the air, the weather is warming, the flowers are blooming, and home shoppers are out looking with great anticipation on finding a home.
If you are considering selling your home, Spring is the perfect time to list. As the weather warms home shoppers have come out of hibernation.
The market is a hot seller’s market with just over a month’s worth of inventory. A balanced market has 5.5 months of inventory. This is a great position to be in as a seller, but not so much as a home buyer because the competition to get their offers accepted is tough. With so little inventory and so many buyers there are plenty of bidding wars going on to get into contract on a home purchase.
My advice to sellers would be to get your home on the market as quickly as possible. The longer you wait the more competition you will have as a seller. The further we get into Spring the more listings we have. Beat the competition by getting your home on the market first. Chances are if ...