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What does 2009 hold for us in the Real Estate Market? Here in Spokane the real estate market got off to somewhat of a slow start. The combination of the economic uncertainty and record snowfalls in December didn't provide the kick start we had hoped for. However, not everything is doom and gloom as you can see from the January 2009 results;
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Greetings Valued Friend,
Wow what a year 2008 has been! Many would say this has been one of the most challenging periods in our history and/or lifetime. Despite the challenges and uncertainty we continue to see an active and stable real estate market here in Spokane. Take a moment to look for yourself and see how the year ended up;
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Greetings Valued Friend,
As the weather cools down and we head into the last quarter of 2008 in addition to enjoying the changing fall colors we are experiencing a period of change in our economic and political history that is unprecedented in our lifetime. Every day brings new information and new challenges! To assist in keeping your pulse on the local real estate market and the impacts of the change around us I trust you will find this market update of value.
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Greetings Valued Friend,
As we approach the end of 2008 while there is still fear and uncertainty in the markets we are beginning to see some positive change as we approach 2009. Interest rates continue to remain low, oil prices have come back to reality and the citizens of the United State of America have elected a new president. While we are not out of the woods yet hopefully the enclosed Spokane area market update will assist you in planning and executing your real estate endeavors.
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Greetings Valued Friend,
As we begin to look back on 2008 we will never forget that this has been a year of change, challenge and trying circumstances. Everywhere we turn we hear, see or read about the falling housing market, the unstable stock market, and our overall economic health. To assist you in your Spokane real estate endeavors enclosed please find the market report and insight for November;
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Greetings Valued Friend,
I hope this newsletter finds you enjoying what I like to refer to as "Chamber of Commerce" days here in the Inland Northwest. The warm and beautiful days punctuated by the changing colors and the cool and clear nights. It's days like these that keep attracting people to our area. In the last few weeks I've had several out of town people tell me what we all ready know about Spokane "Near Nature, Near Perfect". As we start back to school and work from our summer activities I wanted to take a few moments to update you on the local real estate market.
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Greetings Valued Clients,
As we approach the end of summer I know everyone is trying to squeeze in those last minute family vacations while at the same time starting to prepare for fall and the start of school. While we got a late start to summer the local real estate market continues to avoid all the despair and bad news that other areas in the nation are experiencing. I hope you are busy enjoying this time of year with family and friends and I trust this quick update will keep you abreast of the Spokane market!
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Greetings Valued Clients,
We've made it to the half way mark and despite the situation with the national real estate market our local Spokane market continues to show stability and growth. As the June results show sales, average price and median price all improved, while inventory increased only slightly. Overall we continue behind last year's pace however, there are good deals and values for both buyers and sellers in the current market.
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Greetings Valued Clients!
Well with temperatures in the mid 30's at night this past week and reports of SNOW flurries here in Spokane perhaps last month's newsletter that Spring has finally arrived here in the Pacific Northwest was a little premature! Despite the late arrival of Spring/Summer we continue to see an upward trend month to month in both closed and pending sales.
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Greetings Valued Clients!
Well we are 1/3 of the way through the year and it looks like Spring maybe starting to arrive. With the snow finally melted and the trees in bloom we are starting to see an increase in activity, sales and inventory which is typical of this time of year. For an update on April activity here in the Spokane area please read on . . . .
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While I'll agree that a majority of clients choose a Realtor based on the specific person and the trust and confidence they have in that person however, a contributing factor to a Realtor's success is the type of brokerage behind the agent. Here in the Spokane area I am proud to be a member of John L Scott. I can say with confidence that the innovation, technology and tools my brokerage provides contributes to my success and assists me in being the best agent I can be. A classic example of this is the new monthly market updates John L Scott is providing for myself and my clients.
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Perhaps you are contemplating selling or buying here in the Spokane area but still have some concerns? As we continue to emphasis here at the Spokane Real Estate Advisor real estate is local and making informed and intelligent real estate investments requires local facts and figures.
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Today the National Association of Realtors (NAR) reported that existing homes sales edged down in March, continuing a decline and remaining within a narrow range of sales activity that has persisted since last September. The NAR reported that existing homes sales were down 2 percent to a seasonally adjusted annual rate of 4.93 million units in March. This is down 19 percent from the 6.11 million unit pace in March of 2007. In comparison the Spokane Market reported sales of 869 units through March, which on an annual basis was approximately 35% below the pace through March 2007.
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Have you seen all those late night TV advertisements about obtaining your "FREE" credit report, yet when you call or go online the report is only "FREE" when you sign up for a credit monitoring service? Fear not there truly is a way to obtain a "FREE" copy of your credit report. Take a moment and let me explain how!
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Greetings Valued Clients!
Well it's hard to believe we are already 1/4 of the way through 2008. The first 3 months have presented some interesting challenges for the Spokane market and no doubt more to come. While the situation with the national real estate market continues to make the news on a nightly basis as we have always said real estate is local. While Spokane and the surrounding area's have felt the affects of the nationwide market, Spokane continues to show strength and stability.
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In today's toughening credit market the ability to qualify for a loan with reasonable terms and interest rate is a never ending battle. With your credit score being a major indicator of your credit worthiness and with lenders and institutions scrutinizing their loan portfolio's more then ever, remember it is never too late to work at maximizing your credit scores. Even if you prefer to pay with cash and debit card, you never know when you may need good credit to get a loan. The following is some ‘behind the scenes’ information on how to optimize your credit scores for a single person or married couple.
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Ask a group of Spokane area Realtors® whether having an open house is a good idea and you can guarantee a lively debate. For every Spokane area Realtor® who believes that an open house is an effective way to market a home and generate potential buyers I can show you another who totally disagrees. If this is the case then who is right and what should the Seller and Realtor® do?
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Yesterday the National Association of Realtors (NAR) reported that sales of existing homes actually increased in February and remain within a fairly stable range. What does this mean and how does it compare to the Spokane market?
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Greetings Valued Clients,
Welcome to the new redesigned Spokane Real Estate Advisor newsletter. In conjunction with the announcement and launch of my new website you will now be able to receive my monthly and quarterly newsletters electronically. By utilizing an electronic newsletter I will now be able to deliver timely and relevant information in a manner that you expect. I trust you will enjoy the new format and I welcome your comments and suggestions.
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While Tuesday's rate cut by the Federal Reserve of three-quarters of a percentage point will be great for banks and short term rates, what will be the impact on 30 year mortgages? Will we see a decline in mortgages rates or is it possible that 30 year mortgages rates might be heading higher? Recent history might be our best indicator of where the rates are heading.
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