At Home With Coldwell Banker Tomlinson - October 2020

ISSUE 108

NEWSLETTER

OCTOBER 2020

@home

WITH COLDWELL BANKER TOMLINSON

green bluff growers adjust for fall festivities Article by EJ Katelyn Schneider

B

eautiful Spokane County is known for a lot of things— from lilacs and pine trees, to giant park toys and clock towers. But one gem among gems in our region is Green Bluff, and all the farms tucked away in the rolling hills and wheat fields.

Autumn is here. With the leaves changing color and the air getting crisper, the time is upon us for pumpkins and apple cider and corn mazes—and that means it’s time for the Fall Harvest Festival at Green Bluff.

This year’s theme for the festival is Be Kind. They’ve got something for everyone. You can expect all the typical fun and goodies, such as Pumpkin Land, the giant corn maze, homemade apple cider, and their world-famous pumpkin donuts. For the adults, the beer shed will be open to serve craft beers, hard cider, and of course their famous apple cider mimosas. Take home an apple pie, or take home apples to make your own. You can buy them by the box, or you can go out to the orchard to pick them right off the tree. Each weekend, there will be a different handful of local food trucks and vendors parked on the hill to fuel your fun.

However, there will be some changes in order to abide by current COVID-19 regulations. This year, the Fall Festival will be by reservation only. The cost is $5 per car, with up to 5 people per car covered under that price. Reservations

can be made on their website. You will select your date and arrival time, and pay for your reservation. Print your receipt to bring it with you the day of your reservation, and show it to the parking attendant upon your arrival.

Tickets for the #beKIND Giant Corn Maze are available online, or on site at the festival for $10 per person.

If you can’t make it to the festival during the weekend, there’s no need to fret. Throughout the week, there will also be opportunity for U-Pick apples and farm fresh meals from the Country Kitchen inside the store.

The Harvest Festival this year may be a little different, but that doesn’t stop the good times from rolling. So come out, have fun, and be kind.

rough spots in a hot market

T

he number of homes that sold last month in Spokane was almost the same as in September of 2019. The value of those sales, however, was 13% higher: $266,249,263.

Furthermore, as indicated by the median sales price, people paid 17% more than they did last year. Why was that? If demand was just about flat, we need to look at the supply side, and, when we do, we find that the inventory of available homes, both new and resale, dropped by 26%.

because they fear they may not be able to find a suitable home they can afford.

The result, as everyone knows, is called a “Seller’s Market,” which suggests to most of us lots of happy sellers and a smaller number of happy buyers. But there is much more to the current seller’s market than that. In fact, anyone entering this market, be it as a buyer, a seller or a Realtor, had better be prepared to overcome some challenges.

There are other pitfalls that lie along the road for both buyers and sellers. For example, the “flub rate”-- the percentage of accepted offers that fail to close-- is several times greater than the historical average. Harried by the pressure of securing a house, buyers will make offers that they haven’t the will or the ability to follow through with. This places even greater importance on the guidance of a trained professional in analyzing an offer before it is accepted.

Yes, homes are selling quickly. Move-in ready homes are often drawing multiple offers and selling within 48 hours of listing. It may take a little longer but, in many desirable areas, even homes that need a little TLC are selling at full market value.

Still, many potential sellers are fearful of putting their homes on the market, not so much because of health concerns, but

They may try to put their home on the market with a proviso that when it sells, the purchase contract will stipulate that the owners will have a specified number of days to find a suitable home. In an intensely competitive market like this, however, such offers rarely stand a chance of being accepted.

Though interest rates remain mouth-wateringly low, many lenders take their time in approving loans by scrutinizing financial records, and sometimes by demanding proof of employment or other documentation even at the point of closing. Here again, the careful choice of a reliable local lender capable of providing a solid pre-approval is crucial.

comments from our REALTORS®

I've had listings, where I could predict showings would be nuts. It's not the same for all price points or property types, there are variations. But if you are selling with a well maintained property in a hot price point, and a seller that is willing to trust your expertise, you have to plan ahead with a schedule. Blocking weekend times from 9am-9pm. Preparing the sellers for the proper expectations. We can get so many calls and text messages, much more than we have time slots for, from agents and buyers, to coordinate showings at all hours. We are wanting to be able to get everyone in and understanding offers are coming, while you have an entire weekend booked.

There are so many pieces to the puzzle. When a seller may consider for sale by owner, because it's such a hot market that any house will sell, there are a lot of things that can go wrong if you don't have someone working for you that knows the rules and the players in the industry. It's more than putting a sign in the yard, and filling out paperwork. Most of the time, by the end of the transaction, a REALTOR will help a seller net more at closing with the commission, than the seller would have alone without paying the commissions.

It's even more so the case in a hot seller's market.

So what is the best protection for buyers and sellers in this rough-and-tumble market? Long-time Tomlinson agent Cindy Hedin provides the answer: “Brokers working together with a "win win" attitude are always my most enjoyable transactions!

I love it when agents reach out with new updates, ask if there is anything else that can be done to assist, react calmly and professionally with our stressful multi-offer situations, delays with appraisals, remote closings, COVID restrictions, etc. This provides not only for a smooth transaction.....it gives our clients the BEST service...by far!!

Ingredients 2 lbs. sweet potatoes 2 tbsps. corn oil 3 Andouille chicken sausage (Costco), chopped 1 small onion, finely chopped 2 eggs, separated 2. sticks celery, finely chopped

HOME RECIPES

½ green pepper, finely chopped

Sweet Potato and Sausage Casserole Looking for something nutritious and flavorful to grace your dinner table this fall? Here’s just the ticket: a delicious casserole that you can serve hot out of the oven, or freeze to enjoy later.

pinch sage and thyme pinch salt and pepper

Directions

Peel the sweet potatoes and cut them into 2 inch pieces. Place in enough boiling water to cover and add salt. Boil for 20 minutes, drain and puree in a food processor. Heat the oil in a large frying pan and fry the nuggets of sausage until golden brown. Then, add vegetables and seasoning and cook for another five minutes. Beat the egg yolks into the sweet potatoes and beat the egg whites until stiff. Combine the sausage and vegetables with the sweet potatoes, and fold in the egg whites until combined thoroughly. Spoon the mixture into a well-oiled casserole or soufflé dish and bake in a preheated 375 degree oven until golden brown – about 25 minutes. Serve right away.

Scenic Spots Around Spokane To See Fall Colors

I

t's hard to believe summer is almost over, but there will be a nip in the air before you know it! As summer turns into autumn, we all look forward to the stunning fall foliage that Washington is known for. This is one of the reasons why we love showing homes in the autumn months.

Iller Creek Trail The 1,233-acre Dishman Hills Conservation Area is home to the scenic Iller Creek Trail. Here you'll find a dramatic landscape where you can take in gorgeous views, wildflowers, and wildlife. During your hike, you'll see beautiful forests, a creek, and you'll have access to the popular Rocks of Sharon. The trail spans 4.6 miles and sees quite a bit of hiking traffic. It's also dog-friendly as long as your furry friends stays on a leash.

Manito Park & Boulevard A staple of Spokane since 1904, Manito Park is made up of five gorgeous garden areas. While the spring and summer blooms are stunning, we're partial to the autumn foliage. You'll love the Nishinomiya Tsutakawa Memorial Japanese Garden, with its scarlet maple trees, koi ponds,

and footbridge. When you're done visiting the park, take a stroll down Manito Boulevard, where the overhang of golden leaves is truly a sight to be seen!

Green Bluff Green Bluff Growers is a community of family farms, wineries, and more. Here you can pick apples, find pumpkins, and enjoy corn mazes. You'll also want to take some time to shop for homemade gifts and home-baked pies, listen to live music, enjoy locally-sourced food and drinks, and, of course, take in the beautiful scenery. Green Bluff is located just 15 minutes north of Spokane. This is a fun, all-ages adventure that the entire family is sure to love!

Finch Arboretum The 65-acre botanical and tree garden at Finch Arboretum is home to over 2,000 labeled trees, flowers, and shrubs.

You'll enjoy wandering through the many trails that wind through the arboretum. Make sure you take a moment to stop by the Garden Springs Creek to relax and take in the beautiful view.

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

@HOME WITH

ISSUE 108 | OCTOBER 2020 ©2020 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.

SPOKANE REAL ESTATE MARKET STATISTICS – Market update September 2020

$333K 16

average sales price

days on market

478 778 current inventory listings

closed sales

September2020, as compared to September 2019. Information pulled on 10/7/2020

The information in this report is compiled from a report given by the Spokane Association of REALTORS® and to the best of our knowledge is accurate and current.

Spokane’s residential market moves strongly forward into fall! September exhibited a 4.1% increase in total sales over August. Our average home sales price came in at just over $332K, which is a 15% increase over the same time last year.

New listings were up 2% in September, however strong buyer demand resulted in consumption of that new inventory & more, which brought September’s total active home listings down to only 478 units (a shocking 51% reduction compared with September 2019).

This issue of low home inventory likely will continue through the fall, as low-interest rates and abundant local & relocating buyer interest impact our market, combined with COVID-19 dissuading some sellers from listing homes during the pandemic.

Article by Russ Marshall, Realtor®

CONTACT ME WITH ANY QUESTIONS OR FOR DETAILED MARKET INFORMATION.