Thursday, October 17, 2019 / by Pamela Glende
We currently have a 2.1 month inventory of homes on the market in Spokane County. What this means is that no new homes come on the market we would run out of homes within 2.1 months.
A balanced market is 5.5 months of inventory. We are currently in a strong seller’s market. We have 316 active listings in which is down 20% from last week. There are 152 in escrow which is down 7% from last week.
That gives us a 48% pending ratio. So out of the 316 active listings 48% of them have accepted offers and are in escrow.
Last week we had a 2.2 month inventory. We had 336 active listings and of those 159 were pending and in escrow.
Our stats are taken from single family homes in the Spokane area. They don’t include land listings, mobile homes on land or leased land or multi-unit listings. They include single family stick built homes only within Spokane County and on under one acre. Stats are taken from all active and pending homes. They do not include short sale homes or fore ...
Friday, July 26, 2019 / by Dixie Simon
Perhaps you have expanded beyond your current living space, or you would like to move into a different-better neighborhood. Maybe you want to move closer to your work…whatever the reason, there are a few things to do before the “For Sale” sign goes live:
To begin with, you need to look at the principal balance on your current home. You must also figure in all costs associated with selling your home such as; repairs, your closing costs which can be average 8-10% of the sale price of your home and the expense of the move itself.
Reviewing Market Conditions
Evaluate your local market conditions. You are assessing the market to include the current inventory of homes for sale, the recent successful transactions, and housing prices in general. Are homes moving fast in your area? Are you prepared to move quickly should the opportunity present itself to do so? The most helpful tool in this step is to work with an Expe ...
Tuesday, June 11, 2019 / by Dixie Simon
You've just finished spring cleaning, and summer is approaching quickly. Summer means longer days and later nights, and usually more traffic in your home. With playdates, game nights, and bonfires, there are likely to be more guests in and out of your home than usual. While fun is the priority, safety should be as well for children and pets especially. To Create a safer haven, follow these steps so you can enjoy a safe summer (as well as all the other seasons):
1. Protect your belongings
If you have items that are important to you and could easily break, it is best to store them away, so they don't get damaged, and no one gets hurt from the broken item in the process.
2. Make off-limit areas
If you want to prevent children and pets from going places you don't want them, consider installing safety gates. Placing gates in front of staircases and rooms with more breakable items can prevent both children and pets from falling or ...
Tuesday, June 11, 2019 / by Dixie Simon
After all of the preparation required to list your home, you are probably ready to relax and wait for offers to roll in. While most of the heavy lifting is completed, it is important to keep in mind things that you may run into during the sale process. As you begin to allow and welcome potential buyers into your home, here are a few things to expect now that your home is listed!
1. You might feel like you live in a museum.
You may have spent a great deal of time cleaning and decluttering, but now you are going to need to maintain that cleanliness. Potential buyers are going to expect a home that was as neat as the listing photos they saw, so it is crucial to meet their expectations. Now that you have officially listed your home, maintenance is necessary. There may be showings where you don't have time to do a full deep-clean, so choosing to keep your home 'show-ready' will help reduce any stress about the appearance of your home for a showing.
2. There will be so ...
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 ...