The Inland Northwest is HOT
How hot? According to the firm Porch, over half of all homes sold in Spokane closed above the asking price last year. In fact, out of all midsize metro areas, Spokane had the fifth highest sale-to-list ratio. And Coeur d’Alene? Currently, the average time on market for a single-family home in the lake city is four days.
By now, we’re all familiar with the reasons why the housing market is on fire—a growing work-from-home economy coupled with historically low interest rates have boosted demand for homes while the national housing stock has dwindled.
To figure out why there aren’t enough homes look no further than new construction. New home building didn’t regain its pre-pandemic pace until this past fall, and ongoing supply chain challenges have continued to impact housing completions. Add into the mix the demand for single family homes created by millennials looking to become first-time homeowners in order to escape rising rental rates, and it becomes obvious why demand currently outpaces supply.
Unfortunately for those younger homebuyers, Baby Boomers aren’t downsizing to condos and retirement communities; to the contrary, they’re upsizing, and they have the capital to pay top dollar for choice real estate. In Spokane as elsewhere, buyers aged 65 years or older accounted for nearly 10 percent of home purchase loans in 2020. How can the average working- or middle-class young family get into a home of its own?
Of all the times to utilize the services of a Realtor, it’s now. Going it alone without an ally in your corner who can negotiate and problem solve on your behalf would be foolhardy.
From a buyer’s perspective, the advantages may seem obvious. The home-seeker needs someone who can get in there and make the right offer at that right time on his or her behalf. But it’s more than just offering to buy the desired piece of property.
While the typical buyer sees a future home, “most buyer’s Realtors will view a property from a long-term and short-term perspective,” explains Tom Clark, a licensed Realtor with Kestell Company.
“An experienced Realtor will notice red flags or areas of concern, whether it’s energy inefficiency, deferred maintenance or poor workmanship, and whether the equipment is aged or any other features of a house that might be concerning,” he notes.
Realtors live and breathe real estate. Would you purchase a half-million-dollar sports car without having the assistance of a seasoned auto mechanic?
It can be a harder sell, no pun intended, in convincing a home-seller as to why putting up a photo on Zillow and going it alone isn’t sufficient, no matter how hot the market it is.
“As a seller, you need an experienced Realtor to assist you with the best pricing strategy; someone who truly knows the value of the area, one who is knowledgeable with the details of your neighborhood, and most importantly a professional to walk you through the multiple-offer situation so many sellers are working with,” says Realtor Connie Smith of Kelly Right Real Estate. “It’s also very important to know how to prepare your home for sale.”
First impressions are key to a successful sale, she adds. “It’s important to have the home staged, professionally cleaned, professionally photographed, decluttered. I always tell my sellers, less is more.”
Smith and all of the Realtors interviewed shared the same sentiment, that their job is to have the client’s best interest at heart.
Take it from one of the region’s most experienced real estate professionals. Nancy Wynia has been helping buyers and sellers since 1979.
“Homes are the largest purchases and sales that most people make. We are there to represent them and explain each step as it comes along. I tell clients that we sell a home three times: sale price, home inspection and appraisal.”
It’s a lot of work, real work, but Wynia emphasizes what matters most for those in her field, “It’s a pleasure and a privilege to work both buyers and sellers.”
Suzette Alfonso
Windermere Real Estate
suzyrealtor.com
(509) 710-4900
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Marianne Bornhoft
Windermere Real Estate
spokanehouse.com
(509) 879-3779
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Tom Clark
Kestell Company
kestell.com
(509) 499-9999
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Crystal Delaney
4 Degrees Real Estate
4degrees.com/crystaldelaney/
(509) 934-0909
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Gayle Earling
Windermere Real Estate
gaylesellsspokane.com
(509) 981-4152
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Joel Elgee
Avalon 24 Real Estate
joelelgee.com
(208) 953-1414
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Denise Fox
Century 21 Beutler & Associates
Denisefox.com
(509) 321-1123
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Pam Fredrick
John L. Scott
Pamfredrick.com
(509) 370-5944
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Mary Frances Gence
Windermere Real Estate
maryfrancesgence.com
(509) 990-1993
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Pam Hansen
Professional Realty Services
professionalrealtyservices.com
(509) 435-1560
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Jill Klinke
Windermere Real Estate
homesforsaleinspokane.org
(509) 994-8273
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Kathy Amistoso Main
REMAX of Spokane
kathymainrealtor.com
(509) 998-7544
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Patricia O’Callaghan
Century 21 Beutler & Associates
SpokaneREAL.com
(509) 701-0856
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Tracy Penna
Windermere Real Estate
tracypenna.com
(509) 953-6561
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Connie Smith
Kelly Right Real Estate
ConnieSellsSpokane.com
(509) 953-3839
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Gayle Terry
Windermere Real Estate
gayleterry.com
(509) 389-2069
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Todd Spencer
Windermere Real Estate
spencersellsspokane.net
(509) 869-5885
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Tony Vaughn
Windermere Real Estate
tonyvaughn.withwre.com
(509) 230-3922
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Amber Vietzke
Windermere Real Estate
SpokaneRealtorAmber.com
(509) 220-7271
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Maria Walker
Windermere Real Estate
Mariawalkerhomes.com
Cell: (509) 747-1051
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Nancy Wynia
Windermere Real Estate
nancywynia.com
(509) 990-2742
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Jeci Adams
Suzette Alfonso
Jesse Allen
Michelle Allen
Zak Allen
Kathy Amistoso-Main
Anna Anderson
Beth Anderson
Mark Anderson
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Arnold Lee
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