Saturday, October 19, 2019 / by Elizabeth Sorensen
As you all know, we have been in a steady strong seller’s market for a long time now. And although we are still in a very hot sellers market, there are a few things I’d like to point out and what that means to you whether you are selling your home or still looking to buy a home.
Heading into the 4th quarter of 2019, low inventory continues to be a headwind for increasing sales prices in Spokane County. We are still hovering at just over a month of inventory. Remember, a balanced market is about 5 ½ months of inventory. With this continued low inventory, we’ve continued to see home prices rise over the last year. The average closed home sales price has risen over 11% compared with this time period last year in 2018. The average closed sales price in September 2018 was $260K, whereas, this last month the average closed sales price was $290K.
What I want to point out today is the “old as time” principal of supply a ...
Friday, October 18, 2019 / by Jennifer Gilbertz
Ok, you have decided that selling your home might be in the near future and as an intelligent home seller in Spokane, WA, you are wanting to have as much information at your disposal to make an educated decision. One thing that is more than likely on your mind is, “How long will it take to sell my home in today’s real estate market?”. This is a very important question because first of all you will need to know where you will be moving to next, how much time you need to prepare, and when will you need to start packing up your belongings.
In our current Spokane County real estate market, we are still holding strong in a top seller’s market. This means as a seller we have a very limited supply of homes for sale in our area versus how many ready, able, and willing buyers there are for these homes. Even though we are going into our winter months here in Spokane, the real estate market is holding strong and homes continue to sel ...
Friday, October 18, 2019 / by Dennis Isip
I'm going to be honest with you. Successfully selling your Spokane, WA home by yourself can potentially save you 3-6% in commission fees.
Then, I'm going to be brutally honest with you. Your chances of succeeding are 7% (based on 2018 statistics from the National Association of Realtors), and even if you did sell it on your own, you may not be totally happy with the results.
The first 14 days will be crucial; it's very likely that your buyer will be a friend, relative, co-worker or neighbor. After those two weeks, your odds of success drop down dramatically to less than 2%.
Here are 4 things that you should expect, if you continue to go on your own:
1. Be prepared for any potential litigation. Buyers typically discover some defect about the property shortly after moving in. Unfortunately, the first thing that comes into their mind is that the seller intentionally kept it a secret. If it escalates and doesn’t get resolved quickly, the lawyers may be called upon ...
Wednesday, October 16, 2019 / by Kylene Emery
Find a great real estate agent! There are over 2500 agents just in Spokane county alone! Nearly half of them haven’t sold a home this year. You need to do your due diligence when deciding who you are going to have help you sell your home.
The good news is, it has never been easier to find a great agent! Vetting an agent ahead of time will ensure that you sell your home for the most money in the shortest amount of time! There are a variety of ways to find a great agent, but I often tell people to that google is a great place to start.
You want to find a professional who has sold homes in your area and who is highly recommended based on their client’s reviews! An experienced real estate agent will give your home a much-needed online presence through both the Multiple Listing Service as well as all the major home selling websites like Zillow and Realtor.com. They wi ...
Tuesday, October 15, 2019 / by Kylene Emery
Fall is well under way and the market is really starting to reflect that! We had a summer that was bustling with activity, but it has begun to slow down. For the past several weeks we have seen a decline in the number of houses coming on the market and going under contract. This week alone, new listing are down almost 25%! Prices are still up though, 11.5% over this same time last year.
What does that mean if you are a seller? It means that you have to the right plan in place! This means the right agent, the right price, and the right marketing! Homes are still moving quickly, but buyers also know the market has slowed down and they are hyper aware of the pricing and availability. Inventory is still very low, but the number of buyers looking for a home has also declined as we rolled into fall. Creating a plan with you broker that meets you needs in terms of staging, price ...