At Home With Coldwell Banker Tomlinson - January 2020

ISSUE 99 | JANUARY 2020

WITH COLDWELL BANKER TOMLINSON received news that the Spokane Shock will be coming back in 2020. On the individual level, Shadle Park High School alum and local MMA stand-out Michael Chiesa went 2-0 in his 2019 UFC bouts. Don’t forget about September, when we had seven students from local universities make an NFL roster in their rookie year. What a great year for local sports!

2019 has also ushered in new regional leadership. At Greater Spokane Incorporated, Alisha Benson, who has been and will continue to be one of the great leaders in this region, assumed the role of CEO. Visit Spokane also hired a new leader earlier this year as Meg Winchester took over as CEO. They will both continue to grow the Spokane region economically as we continue our rise to the top.

2019 GAVE US MUCH TO BE PROUD OF 2019 was a great year for the entire Spokane region.

From individual accomplishments to local sports to longtenured completed projects, the year gave us all much to look back on with pleasure, and much to be grateful for.

In 2019 some regional projects finished while other exciting ones were announced. The Pavilion in downtown Spokane’s Riverfront Park was finished in August and has made the night sky even more beautiful when driving by or visiting the park. It has also made numerous events, such as concerts and even yoga, possible to be held in downtown Spokane. More recently the Sportsplex project broke ground just last week. Liberty Lake announced a new bridge to be built across I-90 which will improve traffic flow between Liberty Lake and Spokane Valley.

Liberty Lake also broke ground on Ridgeline High School in August and that is expected to be open by the Fall of 2020.

The year for local sports started out strong in January as Eastern Washington University’s football team was the national runner up. Our region’s prowess was also on display as Mt. Spokane High School won the 3A state championship in wrestling, Gonzaga Preparatory School men’s basketball team captured its second straight state championship in early March. Later that month, Gonzaga University men’s basketball made it all the way to the Elite Eight in the NCAA tournament and the women’s team captured their highest seed to date at #5. The women’s soccer team from Washington State University just finished their historic run all the way to the College Cup Semi-Finals in early December. Last month, Spokane

2019 saw Spokane moving closer to the center of the radar for both businesses and individuals all over the country. The City was just recently ranked 31st on INC Magazine’s top cities to start a business. U.S. News & World Report ranked Spokane the #4 Best Place to Live in the US if you’re concerned about climate change.

Calculations for the scores were based on data provided by the EPA based on risk, governance, society, built environment and natural environment. This goes to show that other people are starting to see what we’ve already known for years and years: the Spokane region is one of the best places to be in America.

We can be proud, also, of the fact that the growing prosperity of our region has been fueled by a variety of solid, stable forces: health care, recreation, tourism, and, perhaps most gratifying, manufacturing. Just look at the performance of our area manufacturers during 2019:

Article by Larry Lapidus, Realtor®

CHANGE YOUR MINDSET FOR A STRONGER FINANCIAL FOUNDATION As we stand at the threshold of a new year and a new decade, let’s admit that many of us need to change the way we think about money. If we can do away with six mental traps, we will have made great progress in solidifying our financial foundation. Here they are: LIVING (ONLY) IN THE NOW It’s hard to make your money stretch when you’re only focused on what’s easiest and most appealing right now.

The latest smartphone may be calling your name, but if you’re willing to live with last year’s model, you could put that money toward paying off student debt or building emergency savings.

What do you gain by living below your means? In a word: Freedom! The next time your car breaks down, you won’t find yourself scrambling for funds. The next time you’re hit with an unexpected medical bill, you won’t find yourself losing sleep at night.

MISPLACED FRUGALITY Bargain-hunting is one thing; being cheap is another.

Don’t focus purely on the price tag. Instead, think about quality and overall value. Shell out an extra $20 or $30, and you could get shoes that last for years, rather than a pair that unravels at the end of the season. Spring for buying the ingredients for fresh homemade meals rather than living off the dollar menu at your local drive-thru and the positive effects on your health could save you thousands in future medical bills.

LIVING BEYOND YOUR MEANS Credit card debt can keep you in financial shackles for decades. Stop telling yourself you “deserve” things you can’t afford. Remind yourself that what you deserve is a life where you don’t have to work until you’re 80 to

keep the bills paid. Don’t purchase consumer items on credit. Instead, save money in advance so you can treat yourself to an item that you can truly afford.

WINGING IT It doesn’t matter how much money you make if you don’t know how it escapes from your wallet. If you don’t have a budget, come up with one — stat. Same goes for building an emergency fund and creating a retirement savings plan. When you don’t track where your money is going, it tends to get away from you fast.

BUDGETING ALLERGY “Budgeting” doesn’t have to be a dirty word. Neither do “savings” or “retirement planning.” There are so many apps and tools out there that can take the hard work off your shoulders. The spreadsheet shown here is free from Google. Contact your Tomlinson Agent for a copy.

IGNORING TAXES It’s tempting to overlook taxes. They seem boring and complicated. But these make a big difference in the amount of money that stays in your pocket. Tax planning is as crucial as budgeting, investing and all other forms of financial management.

Talk to a CPA about how to lower your tax bill, and think about the tax implications of the decisions you make. If you decide to move to another neighborhood or state, for example, think about how this move will impact your tax bill — and consequently, how it will affect your overall budget.

Article by Larry Lapidus, Realtor®

COMMUNITY SPOTLIGHT

SAUTÉED BRUSSELS SPROUTS INGREDIENTS

SHADOW.

• 4 ounces bacon (4 slices), chopped fine • 2 shallots, sliced thin • 1 pound Brussels sprouts, stem ends trimmed, discolored leaves removed, and halved through the stem • ½ cup water • Salt & Pepper • 1 tablespoon unsalted butter • 1 tablespoon red wine vinegar

Shadow is all about having fun! He loves to go on walks/hikes, ride in cars, play with toys (especially ones that squeak). #2020-17808

WINNIE.

Hate brussel sprouts? Maybe that’s because someone in your household didn’t know how to prepare them properly. You may have noticed them appearing on some stylish menus around Spokane recently, prepared much as is described in this recipe, in which the combination of smoky bacon and sweet shallots adds richness to -the sprouts, while the red wine vinegar offers a balanced acidic tang.

INSTRUCTIONS

1. Cook the bacon and shallots together in a 12-inch skillet over medium heat until the bacon is crisp and the shallots are browned, about 10 minutes.

Transfer the mixture to a paper-towel- lined plate to drain.

2. Add the Brussels sprouts, water, and 1/2 teaspoon salt to the skillet and increase the heat to medium-high. Cover and simmer until the brussel sprouts are bright green, about 9 minutes. Uncover the pan and cook until the liquid has evaporated and the sprouts are tender, about 5 minutes longer.

3. Remove from heat, stir in the bacon mixture, butter and vinegar. Season with salt and pepper to taste before serving.

Winnie is a beautiful calico cat with lovely green eyes that don’t miss a thing. Winnie wants a new home so she can give love and get lots of petting. #2020-16530

Interested in adopting or donating? Call SCRAPS Today! 509.477.2532

NOW TRENDING: RAIN GUTTER CONSIDERATIONS

Now is likely not the time of year when most people think about their rain gutters. However, if none exist, or they are failing, then now is a good time to plan for an installation or upgrade when the weather permits. When installed properly, a gutter system should withstand our climate with some basic, routine maintenance.

SIZING Although 5″ ‘K-style’ rain gutters are considered the standard size for residential, seamless rain gutters, many homeowners are upgrading to the 6″ version of the same style of gutter. Though a 6″ gutter is only an inch bigger, it does handle about 40% more water. The over-sized downspouts installed with these gutters can also handle more debris passing through them.

DEBRIS PROTECTION In our area rain gutters get cluttered with endless amounts of leaves and pine needles. I have found that an easily removeable, cleanable solution is best. The covers and screens that are popular simply become matted with debris and don’t work well. When it really

rains, the water just runs over the top. Might as well not spend the money on them. The best thing I have seen to date is the Gutter Brush (www.gutterbrush.com) or similar products. They do require periodic maintenance as do the other options, but the water does get into the gutter tray and the downspout.

CAUTION Preserve the ends of your gutter system and remove those downspout chains in the winter. They can accumulate so much ice that either the chain hook fails, or the gutter is pulled away from the house.

Article by Dale Smith, Realtor®

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

@HOME WITH

ISSUE 99 | JANUARY 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

2018 2019 71 57 55 48 62 50 44 $288,794 compared to The average closed price55for December 2019 was 59 53 45 40 December 2018 when the average price was $242,355.

(Does not represent home values) 53 45 35 36 53 39 30 31 52 31 2019 was 28 $257,000 compared to The median closed price35for December 53 when the 37 median price 35 31 December 2018 was $222,500.

(Does not represent home values) 54 43 33 29 55 44 35 23 Closed sales of 56 single family 42 homes36on less than 21 one acre including condos for December 2019 59 total 654 45compared39to December 26 2018 when the total was 601.

60 49 44 26 2016

JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

2017

AVERAGE PRICE UP 19.2% MEDIAN PRICE UP 15.5% SALES UP 8.8%

INVENTORY DOWN

Current inventory, as of this report totals 596 properties which represents a .9 months supply. NOTE 1: Inventory does not include CTG-Inspection. As an example - Inventory, including CTGInspection (now Pend-Inspection) would total 936 properties, a 1.4 months supply.

NOTE 2: Using the old method inventory is up 17.3% as of this report (936 compared to 798 last year at this time).

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

36

39

44

2019

48

44

40

36

31

28

31

29

*23

*21

*26

* 26

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.

MARKET UPDATE Spokane has been discovered in a profound way, and we’ve become one of the top relocation destinations in the country.

Add to this increasing internet based jobs, allowing flexibility to home buyers who can purchase and live in more affordable communities like Spokane, instead of enduring the highly inflated home costs in cities like Seattle and Portland.

Prices are likely due to keep moving upward, as low inventories and high home buyer demand have caused an intense shortage, and there is no sign of relief in sight. Homes are being consumed quickly, with new listings taking less than a month to sell over the last 5 months. This higher consumption has created a market that in December had less than a month’s worth of inventory. Our winters usually see a slow down in activity, but even as the snow falls we are still seeing multiple offers and immediate sales on many well priced, desirable homes.

Article by Russ Marshall, Realtor®

CONTACT ME WITH ANY QUESTIONS OR FOR DETAILED MARKET INFORMATION.