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Selling A House | pricing Blog

Wednesday, January 15, 2020   /   by Keri McCombs

Real Estate Excise Tax Law Changes And How They Impact The Sale Of Your Home

Effective January 1, 2020, a new law went into place that impacted the way excise tax is calculated in the state of Washington. 



But before I address what changes were made, I first want to go over excise tax, what it is, what you need to know about it, and how it impacts YOU.


What Is Excise Tax?
Excise tax, generally speaking, is a tax on the purchase of a good. So in this case, real estate excise tax is a sale on the sale of a home or property. In the state of Washington, the seller is responsible for paying this tax when a property sells. However, if the seller doesn't make sure it's paid, the buyer does become liable. There is only one time where I know this happens, which I'll discuss towards the end of the article.



Real estate excise tax, also known as REET, has historically been 1.78% of the purchase price for most of the greater Spokane area (1.28% state levy rate plus 0.50% levy rate for most cities). However, the state of Washington has been discussin ...

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Sunday, December 22, 2019   /   by Amber Tice

What's HOT And What's NOT In Home Buying 2019

If you are a home seller in today’s fast-paced Spokane market you’ll want to take a closer look at what home buyers are looking for as they search for a new home.




A laundry room on the main living floor tops the list according to forbes.com.  Quite frankly people are tired of walking over dirty laundry in the hallway, or in the kitchen.  Putting the laundry behind closed doors is a must and buyers are looking to set it and forget it until they can get to it.  I, for one, can definitely relate! Buyers are also looking for energy-efficient appliances to save on costs.






Buyers are also looking for an open concept kitchen opening up into either a   dining area and/or the living area. The importance of being able to keep an eye on kiddos, socialize with friends and family, and having enough space and seating for everyone who comes to visit is a high priority.  High end finishes that buyers gawk over include stainless steel, white cab ...

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Sunday, December 22, 2019   /   by Amber Tice

What’s Hot In Home Buying 2019 PART 2

It’s no surprise that in today’s world home buyers are looking for updates, modern finishes, and environmentally friendly touches.  It will be in a seller’s best interest to pay attention to what is in and what is out in home buying in 2019 and beyond.


Here are four more things home buyers will be looking for this year and into 2020:




Having a beautiful patio space is another hot hit with home buyers.  These days relaxation and being able to unwind after a long day in imperative for our health.  Outdoor lighting and comfy ambiance will complete the outdoor package.  






Smart home features are almost a must with millennials.  These types of features create peace of mind and an overall sense of safety among home buyers.  Some of the top smart home features according to forbes.com include security cameras, smart doorbells, programmable thermostats, wireless security system, and lighting control system.   ...

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Friday, December 20, 2019   /   by Ariadne Gold

Home Features Today’s Buyers Want Most in the Spokane Real Estate Market

 
Popular home features are constantly changing. Remember in the sixties, when intercoms in houses were in style?  It’s important to know what the current trends are, so that you can get the most for your home.



1.       Laundry Room
One of the most important things to buyers right now, is having a laundry room.  If you don’t already have one, it may be worth investing in adding one to your home. It doesn’t have to be huge; just a separate room that is specifically for laundry.  This helps to keep your home looking organized; I think we all know the struggle of having piles of folded laundry on the couch!  Its also a plus to have the laundry room on the main or second floor, not in the basement.


 


2.       Energy Efficiency
Another feature that’s important to modern buyers is energy efficiency.  This includes appliances, furnaces, water heaters, and ...

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Friday, December 20, 2019   /   by Ariadne Gold

Spokane Real Estate Market Update Week of December 20th, 2019

Well, last weeks snow is gone and its now 50 degrees and raining. I think mother nature may have had too much eggnog!  


 
This week we are at 1.5 months of inventory! This is up from 1.3 months last week, most likely due to the holidays coming up. There are currently 1,476 homes on the market, but about half of those are under contract.  92 new listings came on the market in the last week, which is 20 less than the week previously.  That’s a bigger jump than normal, again due to the holidays. I think that number will continue to go down week by week until January or February; there won’t be many homes coming on the market during the Christmas and New Years weeks.


 


What effect does this kind of market have on buyers and sellers?  Buyers are making an average of five offers before they find their home. Five!  That’s a lot of heartbreak and frustration.  It’s also very different for sellers; while before the ...

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

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