Monday, April 1, 2019 / by Connie Tracy
As Fairchild AFB is growing, so are the amount of military personnel coming into Spokane. Many of the families are looking at purchasing homes using their VA eligibility.
Here are 3 tips to be aware of when selling your home to a VA home loan buyer:
1. Familiarize Yourself with the Minimum Property Requirements
In order for a VA home loan to process, a VA appraiser is required to inspect and approve the Minimum Property Requirements (MPRs). Some MPRs are up to the appraiser's interpretation, and others are very specific.
These are the 14 points appraisers work with:
1. Must be a residential property. It can not be bare land.
2. The property must provide enough space for suitable living, including sleeping, cooking, and sanitary accommodations.
3. Electrical and plumbing systems need to be in good working order and have a reasonable time frame of future use available.
Backup Offer... What is that?
Pre-Approval vs Pre-Qualification...what's the diff? ...
Sunday, March 31, 2019 / by Dennis Isip
Are you moving to another state, or relocating to Washington State? More specifically, are you considering a move to or from the Spokane area? There are a lot dynamic factors changing in different directions simultaneously at this time. Let’s look at the big (national) picture first.
National Real Estate Market
If your plan for 2019 includes selling your home, you will want to pay attention to where experts believe home values are headed. According to the latest Home Price Index from CoreLogic, home prices increased by 4.7% over the course of 2018.
The map below shows the results of the latest index by state.
Real estate is local. Each state appreciates at different levels. The majority of the country saw at least a 2.0% gain in home values, while some residents in North Dakota and Louisiana may have felt prices slow slightly.
This effect will be short lived. In the same report, CoreLogic forecasts that every state in the Union will experience at least 2.0% a ...
Wednesday, March 13, 2019 / by Dennis Isip
The Spokane real estate market is in a unique situation. While the rest of country shows signs of normal slowdown, Spokane continues to be challenged by low housing inventory. An Amazon distribution facility is being built as of this writing. This is expected to open up in Fall 2019, making 1500 job opportunities available. In addition, Fairchild Air Force Base is expected to add another 1000 servicemen and women, as it expands its operations.
On the other hand, the country’s largest homebuilder is expected to complete approximately 200 houses within the next 12-18 months. D.R. Horton recently expanded their presence in Spokane with a very aggressive plan to break ground in several communities around Spokane: Indian Trails, Colbert, South Hill and Spokane Valley.
So is it fair for baby boomers to be blamed for a portion of the housing market’s current lack of housing inventory?
Here’s wha ...