ISSUE 84 | OCTOBER 2018

WITH COLDWELL BANKER TOMLINSON

THE HUTTON SETTLEMENT

Submitted by Larry Lapidus

HISTORY. The history of the Hutton Settlement mirrors the development

SALUTE. Sustainability Arts and

of the West by settlers of European origin: Levi Hutton was orphaned at the age of six along with his six siblings, who were separated and dispersed among the households of aunts and uncles. This life event made a profound impact on him and set the stage for the creation of his home for children. While his cousins attended school, Levi was assigned to farm duties and did not attend school beyond the third grade. At a young age, Levi moved west to begin working with the railroads - eventually making his way to Wallace, Idaho. It was there that he met May Arkwright, whom he married in 1887. Levi and May put their life savings together to purchase a fraction of the Hercules silver mine and in 1901 became instant millionaires.

Leadership United Through Education Center for Ecoliteracy. SALUTE is a program where students help to manage the on-site farm, including a produce garden and chicken coop. They will soon be joined by a herd of goats! Children learn to cook their own food from their own garden and every year they give over 1,000 pounds of produce to local charities. They may also participate in a Culinary Arts program, or The Hutton School of Woodworking. In each of these programs, they learn that they can be change-makers in their own community and be givers of service, even though they came to Hutton because they themselves needed such service.

COMMUNITY. Wanting to be part of a larger community, they moved to Spokane and began investing their wealth in the town. Their wealth enriched and benefited the growing city of Spokane. It led to construction of the Hutton Building and the acquisition of the Fernwell Building. Both are still being used today. The Huttons generously supported the Florence Crittenton home for unwed mothers and the Spokane Children’s Home. Levi and May both had a heart for children. After May’s passing, Levi set out to build the Hutton Settlement Children’s Home, which opened in 1919.

MISSION. The mission is still the same today - to nurture, educate and prepare children in need of a safe and healthy home. The four large homes provide housing for 6-8 children each, in a family environment and provide long-term residential care to children ages 5-18. They also offer after care to 18-24 year olds, including on-site transitional and holiday breaks. In the last 11 years, all children who have graduated while living at Hutton have gone on to institutions of higher learning. Their goal is for each child that passes through their doors to feel empowered, loved and successful.

GET INVOLVED. Hutton Settlement is 100% privately funded. DONATE or VOLUNTEER today!

WWW.HUTTONSETTLEMENT.ORG

NEVER HEARD OF D.R. HORTON? THAT’S ABOUT TO CHANGE

Submitted by Larry Lapidus

LEXINGTON HOMES. For twenty years, Dave Nerren, owner-operator of Lexington Homes, has provided innovative, high-quality housing to 15 to 20 buyers per year. Over the coming several years, Nerren expects that number to grow a bit, to 210 homes per year, and, by 2024, to over 300 per year. The reason for this change in Nerren’s plans is not an onset of bi-polar disorder, but rather because, according to The Spokesman-Review of Sept. 17: “Lexington Homes, of Spokane Valley, has been acquired by D.R. Horton, an Arlington, Texas, company that builds homes in 26 states.” This will have farreaching effects on the real estate market in Spokane and on the entire economy of our region.

DEMAND. Drawing on the massive buying power and logistic expertise of D.R. Horton, Hunnel feels that Lexington will be able to deliver homes of superior quality to the market in 1/3 less time, with features the competition will find it difficult to match, and for 1520% less. To do this, they will not offer buyers as wide a range of options, or the ability to pick and choose which floor plan will go on which lot. If they agree to purchase a home still under construction, buyers will be able to choose among pre-established “boards” showing colors and textures which have been proved to go together harmoniously. He and Dave Nerren feel that the public will find this compromise more than worthwhile.

D.R. HORTON. The first national builder to set up shop

CHANGE. Hunnel feels that D.R. Horton’s entry into

in Spokane, they are midway up the list of the Fortune 500, and traded on the New York Stock exchange. They sold 51,000 homes last year, making them the largest builder in the US for the 16th straight year. Lexington Homes now has a source of capital quite independent of local lending institutions and far in excess of the assets of any individual.

our market will have far-reaching benefits. By tapping a pool of “outside money,” he feels that housing and employment opportunities in our region will attract new residents from all over the country. Many will prefer what other builders have to offer, and that is fine with Lexington Homes, which believes that this is not a zerosum game. But, make no mistake……the game is about to change.

SUPPLY. No more will they be obliged to build within a narrow allotment of funding set by a risk-averse lender. According to Jayson Hunnel, their VP of Forward Planning, Lexington Homes can and will build as many homes as the market demands. He estimates that the current supply of new homes falls 360 homes short of meeting the demand that is out there, and his company is moving speedily to fill that gap. He cites the example of Fairway Greens in West Plains, a development of 55 lots. Rather than pulling permits for 3-5 homes, as is customary in our market, he has pulled permits for, and begun construction on all 55.

SOPAPILLA CHEESECAKE BARS

Submitted by Stephanie Monroe

COMMUNITY SPOTLIGHT

INGREDIENTS

COATS 4 KIDS. Coldwell Banker

• •

Tomlinson and our Agents join KXLY in collecting new or gently used coat donations at all Spokane offices and open houses through October 31st.

• • • •

2 Pkgs refrigerated crescent rolls 2 Pkgs (8 oz each) cream cheese softened to room temperature 1 Cup white sugar 1 Tbsp vanilla extract 1 Stick (1/2 C) butter, melted ¾ C cinnamon sugar (combine ½ C sugar and ¼ C cinnamon)

THANK YOU. Thank you for being

INSTRUCTIONS

1. Preheat oven to 350°. Liberally grease a 13x9 baking pan with cooking spray. 2. Lay one roll of crescent rolls down in a single layer on the bottom of the pan, pinching together any seams to seal and stretching to fit the pan. Set aside. 3. With an electric mixer, beat the cream cheese, white sugar and vanilla until combined. Spread the mixture evenly over the top of the first crescent roll layer. 4. Unroll the other crescent roll sheet onto a cutting board and pinch the seams together to seal, slightly stretching to out as you go. Pick it up and carefully lay it over top of the cheesecake filling, covering it completely, pour the melted butter evenly over the top, and evenly sprinkle the cinnamon sugar on top. 5. Bake for approx. 30 minutes, then let cool completely. Store bars covered in refrigerator.

a part of KXLY’s 34th Annual Coats 4 Kids Campaign! Every year the community comes together to collect, clean and distribute winter coats! All of the coats stay in the communities they are donated in! For any Coats 4 Kids inquiries, please email COATS4KIDS@KXLY.COM

NOW TRENDING: INTERIOR DOORS They have simple facings that are smooth and devoid of panels. They are available in both paint and stain grades.

INTERIOR DOORS. Interior doors are one of the prime design elements in a home or office since they make a terrific visual impact while also providing privacy. These doors are usually made of MDF, wood, metal and even glass in painted or stained form.

FLUSH DOORS. These are the basic, smooth doors that are most familiar.

the number of panels desired. The appearance can be traditional or modern. Panel doors may either be opaque or incorporate glass elements, which allow natural light to filter into BARN DOORS. If the building has the room. an open floor plan or wide openings, then barn doors are a fantastic POCKET DOORS. Pocket doors slide option. These unique sliding doors into the wall and allow a door to be give the flexibility to divide a large placed in a room where a hinged door space while still providing a wide, would conflict with walls or furniture. open feel. Barn doors can double as These doors can be flush or paneled, an accent piece while providing a with glass or without. combination of beauty, strength and durability. Barn doors are great for HARDWARE. Whatever door style upgrading a master bedroom, master you select, choose hardware and bath, pantry or kitchen. finishes that both accent the door itself and the home’s interior décor. PANEL DOORS. Panel doors are common styles of interior doors with Thinking of changing your interior simple silhouettes that stand out in doors? CALL TODAY so we can any type of home. Panel doors come discuss your options. in a variety of styles depending on Submitted by Dale Smith

Coldwell Banker Tomlinson 4102 S Regal St, Suite 201 Spokane, WA 99223

@HOME WITH

CHRIS OLNEY 509.981.6388 olney5560@msn.com

ISSUE 84 | OCTOBER 2018 ©2018 Coldwell Banker Tomlinson. All rights reserved. Each office is independently owned and operated. If you currently have an Agent assisting you with the purchase or sale of property, this is not a solicitation for business.

2017 2018 71 57 55 62 55 50 59 53 45 AVERAGE UP 9.9%35 53 PRICE45 The average53 closed price 39for Sep 2018 30 was $259,472 compared to Sep 2017 when the average price was $236,161. 52 35 31 53 37 MEDIAN PRICE UP 9.3% 35 33 was $235,000 compared to Sep 2017 when The median 54 closed price43for Sep 2018 the median 55 price was $215,000. (Does 44 35not represent home values.) 56 42 SALES DOWN 1.3% 45 homes/condos on less than 1 acre for Sep 2018 total Closed sales59 of single family 60 to Sep 2017 49 when the total was 747. 737 compared 2016

SPOKANE REAL ESTATE MARKET STATISTICS

JAN

FEB

MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

INVENTORY DOWN 24.3%

Current inventory, as of this report totals 1,451 properties which represents a 1.2 months supply. (Months supply based on closed sales for August.) Information comes from the SAR’s Monthly Activity Report which looks at single family residential/site built properties on less than one acre and condominiums.

DAYS ON MARKET

JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

2016

71

62

59

53

53

52

53

54

55

56

59

60

2017

57

55

53

45

39

35

37

43

44

42

45

49

2018

55

50

45

35

30

31

35

33

35

MARKET UPDATE Fall means a seasonal drop in temperatures and real estate values. The expression “’tis the season” celebrates seasonal changes, but retailers celebrate the seasonal buying frenzy. This often means high priced goods and a pinch on our pocketbooks... IF we buy in “the season.” Ever notice what happens AFTER Christmas, or other holidays? Prices plummet! If you can wait to buy until after the rush, you get great deals. The seasonal house buying rush has passed. It’s time to find a deal on a home! Submitted by Cody Kerr

CONTACT ME WITH ANY QUESTIONS OR FOR DETAILED MARKET INFORMATION. CHRIS OLNEY | 509.981.6388 | OLNEY5560@MSN.COM