Is Spokane in a sellers market?

According to The National Association of Realtors (NAR) the answer is yes. What does this mean? Formally, a sellers market is market in which the seller can get a better sale price because the scarcity of inventory on the market. This means that prices could start to climb and that if you are looking to buy a home now may be an excellent time to pull the trigger.

Goldman Sachs released a report that home sales could rise as much as 5.2 Million units this year alone. This is an increase of 12% from the previous year. In addition the amount of inventory available is the lowest since 1999, mix that with historic low interest rates and you have a recipe for the sellers market. If this trend continues home prices will increase. The Wall Street Journal reports that if current market conditions continue current inventory will have been sold in 4.2 months, 2 months faster then a months’ supply last year.

As reported by Krem.com locally in Spokane the trend is slowly mirroring the national average.  The (NAR) reports that in Spokane home sales are up 19.8% in addition, home prices are also improving climbing 12.4% over last year. This becomes particularity interesting when you compare this to new listings, which are down 14.1%. The reoccurring theme, when supply is down price goes up.

   

Looking at the historical indicators to a sellers market such as

•  Inventory is lower then the previous year.
• Sales prices are growing.
• Less then six months of inventory is available on the market.

You could draw the conclusion that the Spokane Market is headed for a rebound if not a full turn around.

If you are looking to buy a home before properties get harder to find or prices climb you may what to act now. The professionals at Synergy Properties know the Spokane local Real-Estate market and have become experts at serving the Spokane community. Give us your your criteria and we will find a home for you. For more information contact us at (509) 624-4400 or visit us on the web 

Want to do a little searching on your own first? Let us help, use our custom search bar for information about Real Estate in the local Spokane Area, simply type in any criteria you desire and get immediate relevant results.

10 Tips to selling your home in the Spring

Look out your window right now, what do you see? The snow is melting and sunny days are here. If you are thinking about selling a home and taking advantage of the seasonal uptick in the market you better act fast!

With the change in season there is an increase in selling opportunities. Combine that with buyers looking to take advantage of low interest rates and you have a recipe for high demand. Here are several things you can do to set your house apart from the rest. Tops and bottoms of markets can be hard to pick but when you remove market anomalies such as homebuyer tax credits or recessions there is an absolute pattern to when people are buying a home. Here are some basic tips help you sell your home fast! 

1. Feels like the first time.

Look at your home like you are seeing for the first time. Is the yard groomed and mowed, are the windows washed, is the driveway clean?  There is no such thing as a second chance when it comes to making a first impression. Walk around the property and make a list of things that need to be cleaned up, painted and taken to the dump and get started,

 

2. Remove the evidence.

People do not associate your keepsakes and interesting knick-knacks with comforting memories. As harsh as this may sound you want the potential buyer to picture themselves living there, not to be distracted by the pictures of your family trip to Disneyland.  Look at your home like you are a covert agent on the run, leave no trace that you were ever there.

3. Let there be light

Open the shades, cupboards, and the closets. Are the windows clean, are the cupboards organized, are the closets coordinated? Opening up the windows will let in natural light and make your home more appealing, organizing the cupboards and closets will showcase all of the space your home has to offer. When asked about amenities that are a deciding factor in purchasing ahome, storage space is ranked at the top.

4. Clean is king

If you hadn’t noticed the reoccurring theme lets be clear, CLEAN! Every nook and cranny, cleaning is one of the single most important things you can do to keep buyers interested.  Pack up everything but the essentials; the goal here is to give the impression of space and for your home to smell new and fell better then the day you bought it.  Showing pride in your home translates to value, that can help keep your listing price firm.

 

5. Words of wisdom from a cereal box

In the words of the wise sage Toucan Sam “Follow your nose, it always knows!” If you smoke or have pets most likely you have become immune to the aroma of Rex or your favorite feline.  Don’t try to mask the smell with scented candles or Lysol that can actually make things worse. Go to the source and do some scrubbing. Clean the air vents and filters. On the weekends open the doors and let mother nature clear out the smell for you.

6. The Beautiful People

What’s on the walls? Is your teen a Marilyn Manson fan? Do they collect rare and exotic animals?  Just remember that home buying is as much an emotional decision as it is a financial one. Having controversial or offensive material lying around can turn off a buyer very quickly.  

7. Use a little magic

Look into your crystal ball; think about the things you love about where you live. What helped you decide to buy your home?  Are you currently looking for a home, what are you looking for? Chances are people looking at your home will find those things attractive. Let your Realtor know why you decided to live in this area. Was it the school district, the proximity to a dog park, or maybe there is amazing dining nearby? Any information will give your Realtor additional tools that may assist them in a fact sale.

8. Who let the dogs (or cats) out. 
Not everyone loves your pets the way you do. You don't want your potential buyers pulling hair off there clothing when they leave, or walking into the laundry room and smelling the cat box. All of these things make your home less appealing and make it seem dirty. If your realtor is showing the house or hosting a open house take them for a walk send them of to dogie day-care for the day.

9. Let your Realtor be your guide.

Our agents are experts, they understand local market trends, pricing strategies, and how to get you the highest price in shortest amount of time. 

10. Let your Realtor be your guide.

Yep its that important! This is what we do 24hrs a day 7 days a week for 100's of clients every year, let us go to work for you. The professionals at Synergy Properties know the Spokane local Real-Estate market and have become experts at serving the Spokane community. Give us your your criteria and we will find a home for you. For more information contact us at (509) 218-7654, or visit us on the web 

Want to do a little searching on your own first? Let us help, use our custom search bar for information about Real Estate in the local Spokane Area, simply type in any criteria you desire and get immediate relevant results.

South Perry District | Spokane Washington

The South Perry district is sitting at the top of a list of neighborhoods in Spokane that are  experiencing a renaissance. As with all great neighborhoods there is a sense of community and pride that makes the South Perry district a Spokane Destination. According to the South Perry Business & Neighborhood Association "South Perry is home to Spokane’s richest display of social, economic, and cultural diversity. Our strong sense of community supports a weekly farmers’ market, an historic business district, and many community organizations."

Conveniently located near the downtown core, There are several reasons to live in the trendy and relaxed community. The entire business district along Perry’s tree lined streets can be easily walked in an afternoon and is home to coffee shops, pubs, fine dining, a nursery and an amazing park with playground that is connected to one of Spokane’s first elementary schools, Grant Elementary.

Several New additions to the Perry District recently have had an impact on the growth of this historical district. A new restaurant  Casper Fry has been instrumental in the revitalization of the South Perry District. The restaurant has helped to bring the community together to rally around excellent sustainable dining. During the summer a crowd gathers from all over Spokane in the adjacent parking lot to watch second run movies outside. Additionally important to the area’s growth is South Perry Pizza with amazing artisan pizza and a patio that is full every day that the temperature is over 65 and the sun is out. South Perry Pizza’s Mission is simple “to offer an inviting atmosphere in which to enjoy affordable, quality, artisan pizza, while fostering a sense of community by providing a gathering place for neighbors, family and friends.” With a recent facelift The Shop now pumps lattes instead of gas and services the community with comfortable armchairs, couches, ice cream and crepes.

The neighborhood itself has started to increase in popularity for first time home buyers partially due to the niche small businesses, but also because of a walkable elementary school, low crime rate all combined with excellent home values. There is a large variety of homes in the area from single level ranchers to two story older homes, making it a great neighborhood for all types of families. Housing options are available in every income level creating a option for people of all ages and backgrounds.  

The professionals at Synergy Properties know the Spokane local Real-Estate market and have become experts at serving the Spokane community. Give us your your criteria and we will find a home for you. For more information contact us at (509) 218-7654, or visit us on the web 

Want to do a little searching on your own first? Let us help, use our custom search bar for information about Real Estate in the local Spokane Area, simply type in any criteria you desire and get immediate relevant results.

Brownes's Addition | Spokane Washington A growing historical community

If you are looking to live in a growing community that encompasses the charm of a historical district with modern amenities Browne's Addition in Spokane Washington may be for you.

Browne's addition is located west of Downtown and runs along the Spokane River. Browne's addition was Spokane's first prestigious refuge for the elite. Evidence of this can be found in the array of older mansions that cover this area, the most notable is the Patsy Clark Mansion which has been preserved and now is available for private catered events.

In recent years the Browne's has had a resurgence of growth and has become a affordable and desirable place to live in Spokane with a variety of different housing options. In 2001 The Northwest Museum of Arts and Culture finished a privately funded remodel and is home to several art collections and traveling exhibits. In 2007 several new units of housing were built to keep pace with demand for first time home buyers, young professionals and family's looking to relocate to a quiet family friendly neighborhood. Before the new construction housing was mostly limited mansions that had been converted into rental properties.

The area has become a mecca for festivals like the popular Elk Fest, and in recent years has seen a surge of small sustainable local business. The Elk Public House one of the first restaurants to open in the Browne's Addition was a major contributor to the cultural growth of the area. Opening its doors in 1999 the Elk also boasts what is widely considered the best patio dining in the city, and feels that “Every neighborhood should be so lucky.” Other great local restaurants include Italia Trattoria (One of the best Italian restaurants in Spokane), Pacific Ave Pizza (Great slices at reasonable prices), Café Marron, Cannon Coffee, and the El Que (A great micro-bar with a unreasonable selection of tequila).

Another reason Browne's Addition is so attractive is that it is so accessible. Browne's is rated only second to Downtown Spokane as the most walkable neighborhood in the city. This means that a large percentage of daily errands can be accomplished by walking. In fact Browne's Addition has its own walking tour that guides you by several historical mansions, the Museum of Arts and Culture (MAC) and Coeur D'Alene Park.

Browne's Addition is a great neighborhood with several features that anyone can enjoy and utilize. As Spokane's Downtown expands outward this area is continually evolving and growing into a affordable and popular community.

At Synergy Properties Spokane we pride ourselves on knowing each Spokane district and community intimately so we can give our clients the best possible service. If you are looking to buy, sell or just get more information on property in Spokane WA. contact us and let us put our expertise to work for you.

You can also use our custom search bar to search for any information about homes in the local Spokane Area by using the search bar below.

Tips for the first time home buyer | SPOKANE WA

Knowing what steps to take when buying a home is key to satisfaction.

If you are a first time homebuyer and you are ready to get into the market, There are steps to take to help you decide if its time to take the plunge.

1. Start Comparing Prices. Check the selling prices of comparable homes in the Spokane area. Web sites such as Serving Spokane, and All Spokane Homes will give you a general idea of what you should expect to pay. You can also do a quick search of actual MLS listings in your area on a number of Web sites, including the site of the National Association of Realtors.

2. Find out what you can afford. There are several ways to find this out, you can use mortgage calculators but the best way is to contact a financing expert in your area. Everyone’s situation is different and some loans are not as clear cut as others. Once you see what type of payment fits your financial means you can narrow your search to fit your situation.

3. Visit the areas you think you want to live in. Spokane has a large diversity of lifestyles and districts within the city limits.  If you are single enjoy eating out and nightlife you may choose to live in Browne's Addition. If you are raising a family and are looking the perfect school, or a park to take the kids to play you may choose to live on the South Hill or outside of Spokane in Cheney Washington. 

4. Get Educated. Buying a house or property is one of the most complex and expensive things you will ever do. Do your homework: Talk to our team, go to first-time buyer seminars, check out online material compare properties in the Spokane Area. The more you educate the more your Realtor will be able to serve you and make sure you are getting the property you want for the price you are looking for.

5. Enlist the help of an expert. The professionals at Synergy Properties know the ins-and outs of the Spokane local Real-Estate market. No matter what your criteria we can find a home for you. In addition our partners and local relationships make the process very accommodating. 

For more information contact us at (509) 218-7654

or visit us on the web here. 

You can also use our custom search bar to search for any information about homes in the local Spokane Area by using the search bar below.