From comparing prices to virtual tours, consumers have become accustomed to the convenience of shopping for homes online, a shift that was further accelerated by the coronavirus pandemic.
With battles for homes leading to a sharp increase in bidding wars in Spokane’s fiercely competitive real estate market, buyers are finding they need to be creative with the offer for the home of their dreams.
One of the first things Spokane-area home buyers tell real estate broker Bryan Crabbe is that they are searching for a deal.
Except for only a few historical exceptions, the value of a standard home only increases over time. That's why longtime Realtor Rob Higgins always coaches those shopping for houses to buy as much home as they can afford so they can eventually take advantage of its value or equity.
As inventory of existing single-family properties in the Spokane area's competitive housing market has dipped to record-low levels, an increasing amount of buyers are considering the option to build their own homes.
Rob Higgins has been selling homes in Spokane for 36 years. He's worked through booms, stagnations, slips, dips and backslides. He's never seen a seller's market like this.
When he was a kid, Rob Higgins used to float on an inner tube in a drainage ditch along what is now Meadowood Golf Course in Liberty Lake.
The last time Spokane had a major run-up in home prices, it didn't end well. The area actually suffered a four-year stretch during which home values dropped.
A tight housing market has led to higher prices and more competition for available homes, a trend that has carried over to waterfront homes. But experts say there’s still a way for people to achieve their dream of having a lake home as long as they are willing to make a few concessions.
When the coronavirus took hold in the nation last year, it prompted shifts in buyers’ homebuying and selling preferences.