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Connie Tracy | pricing Blog

Thursday, October 17, 2019   /   by Connie Tracy

Spokane Real Estate Market Update for Week of October 18, 2019

October 14-18 

Currrently, we have a 2.1 month inventory of single family homes in Spokane County. This doesn't include condos, multi-family properties, manufactured homes on land/leased, foreclosures or short sales. What does this mean to you? This ultimately means that if no one else puts their home on the market, there will be no more homes available for all of the home buyers out there.




A balanced market is at 5.5 months inventory. We are nowhere close to this! As a matter of fact, we are in a VERY strong seller's market. This week we have 316 active listings which is down 20% from last week. AND there are 152 homes in escrow. That is 7% less from last week. 


So, what does this mean if you are seller looking to list your home? It is a GREAT time to sell even with the cooler temperatures, shorter days, and winter around the corner. IF you price your home at market value, expect your home to sell quickly. There are so many home buyers out there looking ...

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Wednesday, October 16, 2019   /   by Connie Tracy

Should I Make Repairs Before Listing the House?

After living in a home for many years, it can be easy to discover things you may not be wild about. While some things can be a quick fix, there may be major changes or updates that make you wonder if it is even worth the investment. At this point, you’re probably asking yourself if you should remodel or just find a new home. As you have probably realized, this isn’t always an easy choice. There are many factors that go into the decision to love it or list it. Here are some things to consider when deciding to remodel or take the plunge and list your home to sell.
1.    ***Determine which is most cost-friendly
While both options will have costs, one will have more than the other depending on your situation. Some of the costs of selling include agent commissions, moving costs, minor repairs, the cost of a new home, and potential up-sizing costs. The costs of remodeling can include permits, architectural plans, materials and labor, and any other additional cos ...

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Wednesday, October 16, 2019   /   by Connie Tracy

What is a Seller's Market?

Shopping for a home in Spokane has changed... even since last year! Spokane's market is definitely a Seller's market! 

Home buyers can't sit back and mull an offer over for long. If they find a house they like, they have to move fast especially in lower price ranges. This is a great time to sell your home in Spokane! 

What exactly does a seller's market mean??

The demand is still high, but the supply is extremely low! One major factor in spurring on seller's market can be a drop in interest rates, which allows more people to qualify to buy homes, or to afford more expensive homes. Additionally, the population growth and increased job opportunities (Hello Amazon!) also bring more buyers into the Spokane market.
Another boost might come from new or expanded government housing assistance programs (BOND products) which allow for special low-interest loans, down payment assistance or tax credits for qualified buyers.

It continues to be a sellers market here in ...

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Sunday, May 26, 2019   /   by Connie Tracy

My Appraisal Came in Below the Negotiated Price! Now What?

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. 


Now what?

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 ...

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Sunday, May 26, 2019   /   by Connie Tracy

Make Your Home Stand Out Amongst the Rest!

May is coming to an end, schools are almost out, and summer officially begins! That means one thing... home selling season is HERE! With the kids home from school and vacations are planned, both buyers and sellers are ready to enter the market as the weather heats up. So now that the season is here, what do you do to make your home stand out amongst the rest? Here are a few tips to make sure you catch the eye of potential buyers during the busy season!

1. Tour Other For-Sale Homes

Go ahead and check out other homes that are similar to yours. Open houses are the BEST way to see what the competition may be for your home. As you are preparing to list, use these tours to see what decor and design-types are attractive to you and potential buyers. If you see things that you do not like yourself, remove them from your own home if you have them. Sometimes stepping out of the box, or in your case, your own home, will allow you to look at your home through the eyes of a potential home ...

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Haven Real Estate Group
Cambria Henry
304 W Pacific Ave; Suite 360
Spokane, WA 99201
509-590-4701

IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that data is deemed reliable but is not guaranteed accurate by the MLS.
MIMLS The data relating to real estate for sale on this web site comes in part from the Spokane Association of REALTORS® MLS. Real estate listings held by brokerage firms other than Haven Real Estate Group are marked with the IDX logo. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Haven Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Copyright 2019 of the Spokane Association of REALTORS® MLS. All rights reserved.