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Posts tagged: spokane real estate

Realtor.com says Spokane was the 143rd most-searched city on its site

File this in the I-Don't-Know-How-Much-This-Matters bucket.

Realtor.com keeps track of property searches on its site, and then produces some monthly statistics.

For Washington cities, this is the list of the three most-searched metros for August, followed by rank across the U.S.:

Seattle-Bellevue-Everett, WA      #55

Portland-Vancouver, OR-WA  #130

Spokane    #143

You like more stats on housing?  Go here.

Spokane foreclosed home sales, an infographic covering 2010 and 2011

CoreLogic, a company that puts out a branded real estate summary called RealtyTrac, just completed a summary of foreclosures for metros across the nation. Later we'll have more on that report and compare the differences between Spokane and North Idaho.

This chart provided via the CoreLogic website is a snapshot of sale prices for foreclosed homes in Spokane County over the last two full years, ending in December 2011. The extremely low prices in late December are skewed by the relative scarcity of home sales at that point.

Buzz Price’s Gonzaga housing idea: build it and they will come

Today's Here's the Dirt features a fun story on Buzz Price, a former Spokane Valley kid who grew up, went to the Bay Area, did pretty good, then moved back a few years ago.

Today's story looks at his interesting plan to develop a low-cost, quality and energy efficient student residence near the campus of Gonzaga University. It's one of the longest Here's the Dirt stories the SR has run. It's a great read.

Price calls the new building the Gee, as in G for Gonzaga. He hopes it's the first of more than a hundred he would like to build nationwide, using the same template.

He's created a site to help explain the provide information: www.gee-house.com.

It's not active yet. But you might check back in a few weeks and get more information on his plan.

Tax credit boosted home sales

Second-quarter home sales in Washington jumnped almost 28 percent over 2009 levels as buyers rushed to take advantage of an expiring $8,000 federal income tax credit.

But a report released today by the Washington State Real Estate Research Center  also showed median prices fell 6.9 percent compared with the 2009 quarter, to $246,800.

Spokane County home sales increased 23 percent, with the median price slipping 3.7 percent to $171,400.

The center’s results mirrored those of two other reports released this week, one by the Spokane Association of Realtors, the other by on-line service Zillow.

Zillow: Spokane home prices slip

Spokane home prices held up better than those for Seattle and Portland during the year ended June 30, according to on-line price tracker Zillow.

At $158,900, the median price in Spokane slipped 2.6 percent, compared with 5.9 percent for Seattle and 7.1 percent for Portland, where prices were $288,900 and $230,200, respectively.

Prices in Bend, Ore., sank by 21.8 percent, the most in the United States. Prices recovered most strongly in previously hard-hit California markets like San Diego, where prices increased 7.3 percent.

The Spokane Association of Realtors Monday reported a median price decrease of 3.4 percent for August compared with August 2009.

 

Home sale up for eighth month

Home sales in Spokane County rose for the eighth consecutive month compared with 2009 levels, according to May statistics from the Spokane Association of Realtors.

The May total of 519 was up almost 33 percent compared with May 2009. Sales were also marginally ahead of the 505 in April, the last month in which first-time buyers could take advantage of an $8,000 income tax credit.

The average home price of $180,523 was a slight increase from April, and only $1,200 below the May 2009 average. The median price, at $160,747, was off less than two percent from April, and just 3.1 percent from May 2009.

For the first five months of 2010, home sales increased almost one-third. The average price has declined 7.8 percent, the median price 5.9 percent.

The inventory of unsold homes declined from April, to 3,304, but remains above the 3,159 of a year ago. 

Almost 7,000 county homeowners under water

Almost 7,000 Spokane County homeowners were under water at the end of the first quarter of 2010, and another 5,500 had less than five percent equity.

CoreLogic, which compiles property information for consumers and industry, said 7.1 percent of  county homeowners owed more on their mortgages than their homes were worth. Another 5.7 percent had minimal equity.

Statewide, 15.8 percent of homeowners were under water, with 5.4 percent nearly so.

In Idaho, almost 24 percent had mortgages in excess of their homes’ value, another 5.1 percent had little equity.

Those numbers were almost identical for all of the United States. More than 11 million mortgages exceeded equity, and 2.3 million had equity less than five percent.

CoreLogic Chief Economist Mark Fleming said it will take five to seven years for the typical homeowner to regain lost equity.

State home prices off 3 percent

Home prices in Washington slipped three percent in the first quarter compared with 2009, helping affordability remain at the highest levels in more than a decade.

The Washington Center for Real Estate Research also found median prices in Spokane County were off 5.6 percent, to $170,200, but the number of sales jumped 27 percent from depressed 2009 levels.

The median for all of Washington was $245,900.

Locally and statewide, sales volume trailed off slightly compared with the fourth quarter of 2009.

Center Director Glenn Crellin said the impact of the income tax credit was difficult to gauge, but the activity was slower during the extension that ended April 30 than it was before the first deadline expired Nov. 30.

Affordability, measured using prices, interest rates and incomes, edged down from fourth-quarter 2009, but remained at the best levels since at least the late 1990s.

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The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.

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