Picture This… Yosemite Sam sits at the kitchen table plotting ways to capture that “varmint” Bugs Bunny. Unbeknownst to him, Bugs has a plan of his own.
Yosemite smells a fire.
It is a faint smell, but grows stronger. Suddenly he realizes the fire is coming from his own backside! Yosemite Sam now jumps ten feet into the air and runs like mad down to the lake to extinguish the flames.
You know how much I like to simplify concepts with a good old fashion TV show or movie. Well here it is. — Buyers in the Spokane real estate market are feeling a little like Yosemite Sam, the Fed is Bugs Bunny, and sellers should take advantage of buyers sudden get-up-and-go.
Two sparks to pay attention to:
On December 16th 2015 the Federal Reserve raised the federal funds target rate by .25%. This was the first increase since June of 2006.
Spokane’s active inventory of real estate for sale is over 20% lower than it has been in any other month for the last three years. (49% lower than the highest month of July 2014)
Spark one. Interest rates. This is the fire Yosemite Sam is smelling. DAG NABBIT! RATES JUST WENT UP!! Buyers who have been plotting their move are all of a sudden jumping ten feet in the air, desperate to find a property before rates continue to climb. This is a smart decision on their part.
“Consumers that have been on the fence about moving forward will now be more likely to make a move.” -Mat Inshiba, United Wholesale Mortgage, President and CEO
Though rates are expected to stay relatively stable for the next couple months buyers are antsy and they want to find a house before they can’t afford the kind of house they want. Waiting may cost them an extra bedroom or a garage.
How about spark number two? Active inventory is at a three year low. Spokane is experiencing the classic supply and demand. Buyer demand is going up due to rates and seller supply has drastically gone down.
Traditional wisdom believes winter is not a good time to sell real estate in Spokane. However, based on this double doozie of low inventory and the threat of rising rates, now is an incredible time to get a house on the market.
Unless you have a specific reason to wait until spring or summer to sell your home, now is a great time to get it on the market.
My team and I would love to have an opportunity to speak with you and see if this is the right time for you to sell. If your time frame does not allow for us to start marketing your house until spring or even summer, knowing what you can and should do in preparation for marketing your home for sale will greatly benefit you when the time is right.
Also, let me know if you have a friend or family member who might benefit from a marketing consultation. What we do for sellers is pretty rockin', if I do say so myself. :)
Happy New Year, and may you and yours have a prosperous and blessed 2016.
Jessica Side Owner/Broker EvoReal firstname.lastname@example.org (509) 62-HOUSE
300 Homes Sold Since 2013
Author:Jessica Side Phone: 509-624-6873 Dated: January 12th 2016 Views: 2,425 About Jessica: Hi! I am the broker/owner of EvoReal and have been actively working in real estate for over 13 years...
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Buying a new home or selling an old one is a very personal matter. EvoReal is Spokane's local real estate expert we are a family-owned company where we believe that everyone deserves special attention when it comes to buying or selling their home. We are a small firm by design, we know that our size enables us to really get to know our clients and to quickly adapt to the ever-changing world of real estate. We love Spokane and the Inland Northwest. We love the people who live and work here; they are hard working and so are we. Everyday we use the most modern real estate marketing tools and techniques, dig through thousands of homes for sale to find the right one, and make sure every detail of the home buying and selling process is being attended to, making sure nothing falls through the cracks. Your goals, not ours, are the priority. We hope we get a chance to work with you. Please contact us to ask any questions or to set up an appointment. We look forward to meeting you!
Colville Custom Rancher on 7 Acres, Shop, Year-Round Creek, Large Fiel
"Jessica helped us sell our house after it was listed for only 1 day! She has excellent communication skills and is very professional. I highly recommend her services. She made a very stressful situation (a short sale) easier, mainly due to her experience in this unique (to our times and economy) realtor's niche. "