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SECTION H INSIDE: RESALES – OPEN HOUSES – RENTALS AND MORE
Produced by the Advertising Department of
in conjunction with the Spokane Association of REALTORSÂŽ
real estate
auctions
March 4, 2012
PHASE 3 Now Available! The River Run Development is located just 2 1/2 miles west of downtown Spokane & is nestled on the banks of the Spokane River & offers:
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Open en W Weekends eekkend ds - Noon To 4pm • River frontage & secondary home sites available with views of the river & downtown. • Every home site has easy access to the natural hiking trails that run along the river. • Desirable schools; Hutton, Sacajawea, & Lewis & Clark. • Close proximity to Riverside State Park, Centennial Trail & 3 of the areas best golf courses. • Prices begin in the low $300’s & top out at over $1 million.
Jim Powers Managing Broker
williamsauction.com t
509-321-1100 For virtual tours visit riverrunliving.com
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Directions from downtown Spokane: Head west on 2nd Ave or Riverside Ave, turn right on Government Way & follow to the River Run entrance. Second entrance across/ south of SFCC campus.
ATTEND a HOME BUYINGPHASE SEMINAR 3 Now Available! OPEN TO THE PUBLIC! NO COST! NO OBLIGATION! The River Run Development
Sponsored by the Washington State Housing Finance Commission 1 Presented by Guild Mortgage Company, Spokane Valley is located just 2 /2 WHO SHOULD ATTEND: ✒ First Time Buyers ✒ New Spokane Residents ✒ Renters Ready to Invest in their OWN Dream ✒ Those ready to move up to a larger home or those ready to downsize ✒ YOU!
miles west of downtown
✒ Saving and Planning ✒ Title Insurance Spokane & is nestled on ✒ Current Housing Market ✒ Types of Financing the banks of the Spokane ✒ Down Payment Assistance Programs River & offers: ✒ How to negotiate and buy a HUD home ✒ How to Buy and Rehab a home all in one loan with as little as 1% down ✒ Everything you need to know about obtaining a mortgage and buying a home!
Open en W Weekends eekkend ds - Noon To 4pm
LEARN FROM THE EXPERTS ABOUT: ✒ Tax Benefits ✒ Home Inspection
• River frontage & secondary home sites available with views of the river & downtown. Laura Wells, CMPS NMLS #330328 • Every home site has easyMortgage access to the natural hiking trails Certified Planner (509) 279-2320 Ext. 25 – Direct that run along the river. 714-9411 – Cell & Lewis & Clark. • Desirable schools;(509) Hutton, Sacajawea, 290-1604 – Secure • Close proximity to(877) Riverside State Park,E-Fax Centennial Trail & 3 of the areas bestwww.guildmortgage.net/laurawells golf courses. • Prices begin in theLWells@GuildMortgage.net low $300’s & top out at over $1 million.
$179,900
CONTACT US TODAY FOR A COMPLETE LIST OF CLASS SCHEDULES downtown AND TO RESERVEDirections YOURfrom SEAT! Spokane: Head west on 2nd (509) 279-2320 EXT. 25 Ave or Riverside Ave, turn right Managing Broker
Jim Powers
Laura Anne Wells-Svedberg WA/OR-MLO-330328 / ID-MLO-12775 / Guild Mortgage NMLS # 3274 / Branchon NMLSGovernment # 341940 Way & follow The material provided is for informational purposes only and should not be construed as investment and/or mortgage advice or a commitment to lend. Although the material is deemed to be accurate and the River Run reliable, there is no guarantee of its accuracy. Subject to change without notice, all loans are subjectto to underwriter approval. Termsentrance. and conditions apply. An Equal Housing Lender, Guild Mortgage Company, Spokane Valley Branch, 12209 E. Mission Ave., Suite 7, Spokane Valley, WA 99206, Š Copyright 2011 Guild Mortgage Company. Second entrance across/ DISCLAIMER: The sponsorship by the Commission of a homebuyer education seminar does not endorse a person,of businness practice, product or service other than those of the Commision. south SFCC campus.
509-321-1100
For virtual tours visit riverrunliving.com
$154,900
$133,900
$135,900
No place like a home
I
am frequently asked how home sales are going in this recession and to predict what will happen to our Marilyn Amato, local economy President Spokane Association of REALTORSŽ this year. To that, I respond, “the good news is the bad news is ending.� Research collected through the Spokane Association of REALTORSŽ shows January closed sales are up 11.4% compared to a year ago. This is the seventh consecutive month in which sales are up compared to a year ago. Inventory is up 8.1% compared to a year ago. We are seeing the highest number of closed sales in January since 2008. Some statistics for our local housing market continue to be disappointing, however. Closed sales on new home construction,
CTW
for example, are down 35.5% compared to a year ago. Whenever I begin a conversation with someone on these statistics, I am quick to add there is a deeper metric that ought to be considered and that is value. While a home may be worth less – on paper – than it was a few years ago, there is no less value in that property. Put another way, the walls are no thinner, the yard is no smaller, the roof no closer to the ground than when you bought it. Your home continues to provide value to you and your family. It is important, during times of recession and otherwise, to keep up with maintenance and care so that your home maintains its value. That way, when the time is right for you to sell it, its worth on paper will be as high as the market allows. What does 2012 hold for our regional economy? Eastern Washington University’s Dr. Grant
Forsyth – a rare, plain-speaking economist – knows our region’s vital signs better than most. His research shows we have seen neither income growth nor job growth here since 2007 – that’s five years and counting. He predicts income growth of 0.5% this year and describes that as “icky-bad.� He predicts the same figure for employment growth and describes that as “icky-ickybad.� Notice, though, that the numbers are no longer falling – the bad news is beginning to end. Unfortunately, existing home prices, he predicts, will drop another 8-10% this year. Quoting Dr. Forsyth again, “equity, we hardly knew ye.� This newspaper, last week,
began a series of articles on the road ahead. It is finding that many things have changed permanently as a result of the Great Recession – some for the worse, some for the better. The world in our rear-view mirror will continue to grow smaller behind us. I tell our members that we ought not to pause our lives and wait for things to get back to the way they were. I tell you the same thing. It is much more productive to live our lives for the way things are. As a homebuyer, that means taking advantage of record-low interest rates and some amazing values right now. Unchanged, before and after this recession, is the simple fact that there is no place like a home.