Many people have been telling tales on both sides of the spectrum about the market in Spokane. I've heard the doom and gloom and I've also heard the markets great talk. Let's get a little real. The end of Spokane real estate sales is not here, but neither is the market business as usual. There are many factors going on and it's not just the facts it's understanding them and who and what they will impact.
The sales numbers are down, but not drastically. The Spokane market needs to correct itself and I beleive it will. The first time home buyers have to be able to buy homes again and want to buy homes. What I mean is the loans for first time home buyers have shifted and they can still buy but then may be scared by the market talk and the fact that they can't get the same type of loans they were getting. The confusion alone is enough to slow them from trying which is one of the big fears buyers have. Getting the loan was easy when lender's were confident they could get a loan for anyone. Just like real estate, the mortgage market got alot of new lenders and loan officers trying to make money on the hot market. Many lenders didn't really know their business and were just shoving people into the easy 100% conventional loans. Now alot of those are not available so they don't know how to confidently help 1st time home buyers. I think the impact is less first time home buyers trying to get loans and more people waiting to buy.
If first time home buyers don't buy the 135,000 home then those people an't upgrade to the175,000 and those people can't buy the 225,000 and so on. If the first time home buyers don't move up no one does. There are still sale that will happen but the foundation of the process is the first time new home buyers. Expect to see this change as the lenders get reset and the market adjusts. Remember the elections are coming and many things are still out there to impact people's confidence. So I don't see it drastically changing soon. People are being tenative. Homes must be priced right, staged well, and marketed right. Call us or email us and we would love to show you the benefits of having a real estate agentwho is an expert on your side whether you're looking to buy or sell we position ourselves to help our clients get the most out of the current market. Visit our website to learn more. Check out our free home buyer tools, Learn the real market value of your home, read free reports about buying, selling, or trying for sale by owner. We are always updating our site with information and tools we think you will find useful.
Ross Quintana - www.TeamQuintana.com 1-800-756-5251 ext 1
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Ross Quintana
Your Spokane Real Estate Expert!
Team Quintana Real Estate
Spokane, WA |
Work: 800-756-5251 Ext 1
Mobile: 509-362-1966
spokanerealestateagent@yahoo.com
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