Real Estate Market

Spokane Real Estate Beat

Remodeling: A Question of Cost vs. Value

That is always the question I am asked when counselling a seller as they get their home ready to go on the market. Make sure you investigate where the best place is to spend your money to increase your value.

You want to avoid spending $1000.00 only to get back $650.00 when you sell.

Cost vs. Value reports are available every year. They will show the adjustments from year to year.

First, meet with your agent and listen to what they suggest. Agents preview a lot of houses, and they are aware of buyer comments and what to watch for in a home’s first impression. Also, you may want to consider using the services of a stager, not necessarily to transform everything in your house, but to work with what you've got and amplify the best use of your current furnishings.

Best use of time verses money is for you to clean and declutter your house for all its worth and I stress “worth” A good dose of elbow grease, scrubbing every nook and cranny is one of the lease expensive yet most productive things you can do to get your house ready for sale. The less “stuff” = more room. You don't need to completely depersonalize your house, but you do need to clear the decks. This is your time to shine! Get out the good china, it might seem kind of hokey to put out flowers and place settings in the formal dining room, but that stuff works.

Kathy Lemons with Top Gold Realty is a full time real estate broker in Spokane Washington.

Can't find your Dream Home? Want to Build?

You just spend a lot of time online investigating, driving around, finding school information, looking into mortgage rates, getting fully qualified. After all that work and time, and just not able to find the right home. You have now started to think about building. How hard can it be anyway? Before you get the provervial shovel out, there is different information to gather. It's a different game, one that can be won. You just need to know the rules: 7 things you need to know. (Courtesy of U.S. News)

7 Things You Need To Know 

What Happened with real estate when 2017 showed up in Spokane?

SPOKANE REAL ESTATE YEAR END REPORT
LAST YEAR 2016 SALES WERE UP both in number of sales and final sale prices (includes condos, single family homes on less than 1 acre). Comparing the number of sales 7,571 in 2016 up from ,892 in 2015.  That is a 9.9% increase. When comparing the average and median price, they are both up as well. The median closed price for 2016 is $195,000 compared to $179,000 in 2015. Up 8.4%. The average closed sale price for 2016 was $212,144 compared to 2015 $179,900. Up 7.4%
We are experiencing low inventory with a high buyer demand. The inventory as of January 31, was the number of listings – 1,153. That indicates we only have 1.7 months of inventory. If you have ever heard the term absorption rate, it means that the market would “absorb” the inventory in 1.7 months unless more listings come on.   Historically the Spokane Market will be heating up in the Spring. Good News! We are already seeing indicators of new listings available

SPOKANE REAL ESTATE YEAR END REPORT


LAST YEAR 2016 SALES WERE UP both in number of sales and final sale prices (includes condos, single family homes on less than 1 acre). Comparing the number of sales 7,571 in 2016 up from ,892 in 2015.  That is a 9.9% increase. When comparing the average and median price, they are both up as well. The median closed price for 2016 is $195,000 compared to $179,000 in 2015. Up 8.4%. The average closed sale price for 2016 was $212,144 compared to 2015 $179,900. Up 7.4%
We are experiencing low inventory with a high buyer demand. The inventory as of January 31, was the number of listings – 1,153. That indicates we only have 1.7 months of inventory. Historically the Spokane Market will be heating up in the Spring. Good News! We are already seeing indicators of new listings available.

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Contact Information

Kathy Lemons
Top Gold Realty
12406 E. Desmet Ave. Ste A
Spokane Valley WA 99216
Mobile: (509) 939-1377
Business: (800) 347-0152
Fax: (509) 443-3309