Monday, November 4, 2019 / by Sara Koenig
What's up with our market? I am sharing the latest market statistics from the month of October here in the Spokane real estate market.
We continue to see a strong seller's market and homes going under contract very quickly after they hit the market here in Spokane. This continues to be driven by the fact that we have more buyer's in the market than we do seller's listing their homes for sale. This has been the case here for the past few years with not much of a swing in the other direction.
On average, our Spokane area market has held steady around a one month's supply of available inventory of homes. Once or twice it has ticked up to about 1.3 month's supply, but this is not even close to a balanced market which would be between five and six months of available inventory.
For the month of October 2019 we saw the following:
Home units sold: 942
Average days on Market: 23
Average price of Sold homes: $301,935
Performing agai ...
Sunday, November 3, 2019 / by Sara Koenig
Preparing your home for sale is probably one of the most nerve wracking times for most sellers. All of the questions begin running through your mind....Will the house looks good enough? What will potential buyers think? Will they find any problems? What about inspection? What should we fix first? What is most important?
I want to share some tips you can do ahead of time and even throughout the year to maintain your home and keep it in tip top shape! This way, when the time does come to sell your home you won't have to worry so much or spend alot of time preparing. You'll just need to do a few little touch-ups and you'll be ready.
Get rid of Bathtub stains with this easy tip:
Potential buyer's will look inside your tub, so taking the time to keep this area nice and clean will go a long way for you! They will also notice if the sinks are stained or dirty as well. So, keep them sparkling!
This is also a great tim ...
Saturday, November 2, 2019 / by Sara Koenig
I have said this phrase time and time again over the past two years in our local Spokane market. But, what does it actually mean when agents say that we are in a "Sellers market"?
As realtors we look at a few different statistics when we are working to determine the current market.
Here are a few:
1. What is the current available inventory of homes?
2. How many new homes were listed in the past week/month?
3. How many homes went into escrow?
4. How many homes were sold in the past week/month?
Below is an example of what these numbers work out to estimate as far as a market being more in favor of a seller, or more in favor of a buyer.
So, basically....based on the current home sales, pending sales, and new homes being listed we can work to estimate how many months our current inventory would last if NO OTHER homes were listed for sale.
Now, obviously this is not going to happen. Real estate is always happening, and homes are put onto the mark ...
Saturday, November 2, 2019 / by Sara Koenig
As a seller in our current market here in Spokane, something that may not enter into your mind is what the structure of an offer may look like.
Whether you sold a home in the recent few years, or haven't sold in several years, being aware of the current market is key. There are ALOT of details that are included in an offer to purchase a home and you should be informed so that you make the best decision in accepting an offer and ALL of the terms.
This is an important conversation to have with your broker even before listing your home for sale. I recommend this because, based on the condition of your home, there might be items you need to repair/fix in order to accept certain loan types, for example, an FHA loan, or VA loan. If you agree, as a seller, to accept all the various types of loans, this means you agree to work with what requirements those loans may have when it comes to lending.
To find out what your home is worth click Here!
I typically r ...
Friday, November 1, 2019 / by Sara Koenig
Selling your home can feel like a daunting task, believe me, you are not alone. Every home seller feels exactly the same way at the beginning. However, if you select the right broker who is on top of everything and communicating with you every step of the way....it will feel like it was an easy process and you will be on your way to your new adventure before you know it!
It is our job as agents to walk you through every step, including your open house, and contrary to what some agents may say, these are still an important step in the selling process. .
We are going to give you all the tools we have to ensure that your home has the most potential to sell when someone walks through the front door. Your open house is the best place to make a lasting impression on potential buyers. While online listings can provide a glimpse into what your house looks like, buyers are able to really see if your house feels like a home to them during an open tour.
Some buyers will come with thei ...