Sunday, November 10, 2019 / by Shayla Morford
Holy Moly-I just treated myself to my once in a year vacation in Las Angeles and cannot believe how good it is to be back to Spokane!!!
Don't get me wrong-memories are monetarily driven sometimes, but I had to pay $64 to park my car for 2 nights. A bottle of water at the Santa Monica Pier is $4 (there is 6 of us and Heaven forbid the children share). This could get ugly for a long-term stay. Good thing it's only 7 days.
My work followed me to LA only when I started noticing the difference in the homes compared to Spokane.
I didn't see my traditional "For Sale" sign for the longest time. I had to dig to see what was available, and since curiosity kills the cat-I'm one less life today. There were over 800 Single family homes available, I saw about 5 signs my entire trip.
The first sign I saw was for a 2 bedroom, 2 bathroom home within walking distance to the beach for $485,000. Score right? It was an 822 square foot condo with dues of $622 a month for water and ex ...
Friday, October 25, 2019 / by Shayla Morford
180 new, active or maybe "not so available" (under contract or even sold) homes came on the market since my last weekly update.
That's actually quite similar to this time last year (171 Homes).
When you take a look back at 2017, there were 137 homes available for purchasers.
And yet the market is far more competitive is seems now. rather than in 2017, where there was a decrease in inventory by nearly 25%.
One of the main factors would be the Federal Reserve fluctuating short term loan rates. This is done to try to slow the pace of demand for new residences. Not only are new construction homes not being built fast enough, sellers have extremely low monthly payments as they had secured a rate of 3%-or less. Rates are slowly creeping up, yet the employment rate is low and wages are rising.
We still are in a stimulated economy, as a whole, and this positive market trend looks to be insulated slightly by the Spokane area versus other ...
Thursday, October 24, 2019 / by Shayla Morford
Let's face it, whether you buy or sell a home, there are going to be costs involved. Fortunate for a seller, most of those funds are coming towards your bank account, not away.
But what exactly can a seller expect-cost wise, when selling a property?
1. Payoffs or Leins that may be attached to the property from purchasing a loan or possible legal actions taken against the homeowner, the first things to be paid are the past debts incured and tied to the home.
2. Repairs or Renovations to make the place ready for the spotlight. The most common items include a good carpet cleaning, painting walls or replacing damaged fixtures. Sellers are even in charge of making sure working Smoke and CO2 Detectors are available at the appraisal, in the necessary locations. Zillow lists the average national moving/home preparation costs at $6,570.
3. Is the home going to be listed without occupants? You will need to continue paying utilities on an empty house. Driveways need plowed in th ...
Sunday, October 20, 2019 / by Shayla Morford
Have you ever wondered as a seller, if you made the decision to sell, how long might you expect before you have funds available in your account.
Here is a quick "average" snapshot of the standard home purchase. Remember, if you are asking me to sell your historic 13th Century Stone Castle Mansion on 500 acres, you might have to be slightly more patient for that "Ready, Able and Willing Buyer" to come along.
Typically there are two stages in the home selling process: Getting the home ready for prospective buyers to come through and once one of those buyers submit an offer you are willing to accept, the clock starts again.
Depending on how someone will be compensating you for their purchase, Cash or Financing, will set the pace. The "Great White Buffalo" of cash transactions has been rumored to close in a few business days. Cash buyers may skip a few steps a traditional mortgage lender wont allow. Conventional financing averages 30 days, while FHA or VA may be ...
Sunday, October 20, 2019 / by Shayla Morford
As a local Eastern Washington Real Estate Expert, I often get the question "When is the best time to sell my home?"
My first response is "Would you like to hear the cookie cutter answer most Realtors give or would you mind a personalized response, if I can ask you a few scenarios?"
The general consensus is the real estate market place is the best time to sell is Spring. Buyers are shaking off those winter cobwebs, getting tax returns to use for down payments and making plans for the upcoming popular summer break. Its perfect, right?
Just as unique as your home is, so are your needs to sell, depending on the chapter of life you are at. It could be a newly accepted career on the other side of the Country which may have you packing quickly. What if your local market has a boom in economical stimulus, such as the new Amazon Warehouse coming to the West Plains area of Spokane? If you were on the fence before, this could be your deciding factor.
Beyond local influences-Gove ...