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Spokane, WA Real Estate News

 What is Foreclosure?Foreclosure is to shut out, to bar, to extinguish a mortgagor's right of redeeming a mortgaged estate. It is a termination of all rights of the homeowner covered by a mortgage. Foreclosure is a process in which the estate becomes the absolute property of the lending institution. Foreclosure numbers are growing daily. Of the one hundred twenty or so million homes in America, more than 4% or roughly 4.8 million of them are facing foreclosure. Some of these homeowners are able to work their way out of foreclosure, however, according to MBA there were about 500,000 homes that went through foreclosure last year. Foreclosure threatens these homeowners because they are late or seriously behind on their mortgage payments. The Foreclosure process begins when the homeowner fa...
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By Sarah Reinhart
(Brumback Residential)
Escrow opens when the buyer and seller sign a sales contract, commonly called a real estate purchase agreement and receipt of deposit. The contract, along with any additional instructions, serves as instructions for the escrow officer. Escrow assures that the lender releases the home purchase funds at or about the same time that the deed is recorded to reflect new ownership. Escrow includes depositing, with a neutral third party, funds, documents and instructions necessary to complete the transfer. Because the real estate transaction involves large sums of money and reams of documentation, escrow is not always a predestined, step-by-step process, but can become a confusing end game of details, nit picking and overlapping procedures. It requires preparation, attention to detail, and desi...
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Hearty Market here in Spokane(Another reason why Spokane is one of the best places to live!!)written by:Parker Howell Staff writer for Spokesman ReviewFebruary 27, 2008When Debbie Mills put her late mother's northeast Spokane house up for sale in November, her Realtor suggested she ask just less than market price. Mills received a full-price offer in a little more than a week.But in a time of tightening credit nationally, the would-be buyer couldn't secure financing and the contract expired. Mills expects a new, $119,900 deal on the roughly 900-square-foot bungalow to close soon, and she attributes her success to pricing."I looked at other houses that were $5,000 to $7,000 above," said Mills, 50. "There's just a ton of them out there, so by pricing them just under, you're definitely goi...
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By Sarah Reinhart
(Brumback Residential)
 One of the hot topics facing the world of real estate right now is the issue of agency. Some would have you believe that it really doesn't affect you, the buyer, and that nothing much has changed. But they are wrong. The topic of agency is important to you because it answers the most basic and fundamental question that can be asked of any real estate professional: Who do you represent in this transaction? Until that question is answered, you may be left with the impression that all agents who work with buyers actually represent those buyers, and that you have somebody going to bat for you in this transaction. Well, the issue of agency is important because without it, we can never be sure who represents who. Here's the scenario: You meet a really nice agent at an open house named Sally....
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By Sarah Reinhart
(Brumback Residential)
  If you are an unrepresented buyer, here are ten good reasons why you should hire a Realtor: 1. Realtors Are Real Estate Specialists. Not all real estate professionals are created equally. There are approximately 2.3 million licensed real estate professionals, but only members of the National Association of Realtors can call themselves Realtors. This association of about 750,000 brokers and agents provides a Code of Ethics to standardize professional behavior, and it offers advanced educational opportunities to its members. In Kansas City there are 8900 licensed real estate agents. 66% of them are actually Realtors. 2. Realtors Lower Your Risk. When you have a Realtor as an advocate, you share some of the risk of home buying with your agent. Otherwise, it's buyer beware. Incredibly, ma...
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By Sarah Reinhart
(Brumback Residential)
 Working with a trusted real estate agent is a key part of the home buying process. A good realtor can help you find the home of your dreams at a price you can afford. There are five basic questions you should ask a prospective real estate agent before you start to shop for a home. 1. How long have you been licensed as an agent?Check that the real estate agent currently has a license in good standing and ask him about his professional experience. Look for a real estate agent who has been in the business for at least five years. Ask him about his work schedule and how he wants to be contacted. Ideally, your agent is a full-time realtor who is easily accessible by email, cell phone, and in person. 2. How many homes did you sell last year and for what average price?Ask your agent about her...
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By Rick Callaham, Spokane Realtor
(Team Quintana Real Estate)
Hello Everyone,  I have noticed a trend that creates so many problems. This is that the public calls a Real Estate Agent after they have found a home they want to see, or when they are ready to sell their home. But this creates many problems.1. They bring the expert in after they have done everything so they are not going to get the big benefit of a professional teaching them and guiding thm on the right things and ways to do them. It's like taking your car to the mechanic after you tried to fix it yourself, or calling the electrician after you tried to wire your home yoruself. 2. They usually didn't have the best tools. So they either missed homes they needed to see or fixed things in the home that were a waste of money.   Realtors who know their business are valuable and are not just ...
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By Spokane Home Loans Spokane Mortgage
(Spokane Mortgage)
Construction Loans... how do they work? Construction Loans are loans for building a home. Your Lender needs to know all the details of Construction including cost to built, loan to value, and detailed plans for the home itself. Construction Loans are different in that they are not underwritten by a Freddie Mac or Fannie Mae. Typically Construction Loans require interest only payments during the construction process and are due and payable at completion of the home. They are usually variable interest rate loans, and a draw or dispersement schedule is draw up between the Lender, Contractor, and the Customer.Construction to Permanent is a financing program that allows the the customer to have the Construction loan automatically after the certificate of occupancy has been issued. If you nee...
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By Spokane Home Loans Spokane Mortgage
(Spokane Mortgage)
Thinking of Relocating to Spokane? You will love it here!  Spokane is located at the eastern edge of the Columbia Plateau's wheat farms and steppe, where they meet the forested Rocky Mountain foothills, the Selkirk Mountains. The Great city of  Spokane is primarily served by Interstate 90, which runs east-west from Seattle, through Downtown Spokane, and eastward through Spokane Valley, Liberty Lake, and onward to Coeur d'Alene.  Spokane is a conservative community that has undergone major transformations, particularly in attitude, in the last 5-10 years.  We are the largest city east of the Cascades and the focus of the what is called the "inland empire". It is  a large economic region of agriculture, forestry, and mining that reaches to northeastern Oregon, northern.  Spokane is known ...
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By Donna Henry
(Exit Real Estate North)
 Spokane, WAComplete Remodel ! To See more Spokane homes for sale, Go to donnasellsspokane.com4 Bdrm Single Family Houseoffered at $169,900Year Built1974 Sq Footage1,972 Bedrooms4Bathrooms2 full, 0 partial Floors2 Parking2 Car garage Lot Size7,100 sqft HOA/Maint$0 per monthDESCRIPTION Completely remodeled home located near Spokane Community College. There isn't a surface of this home that hasn't been updated. The kitchen was expanded and remodeled, new flooring throughout (carpet, laminate), paint, new light fixtures, wood deck overlooking fenced yard, off street parking from alley access, 25x25 shop with sliding door, lower level of home has backyard entrance.
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By elaine swanson
(tomlinson black)
   As you go down Sprague and drive by all the stores and restaurants and business are you ever curious about their stories, their histories? In the Valley there are a lot of long time businesses whose stories the Spokane Valley Scoop is collecting one by one. Businesses like Falco's and Behm's Creamery are into their third generation and training their forth.    In the Scoop archives you can read about Mark Hollenback's journey as boy travelling from the midwest to Spokane in a Nash touring car and how he eventually bought the Nash dealership here and turned it into the present day Dishman Dodge. You can read the story of how Bud and Connie Haskins came from Oklahoma with their two smalll children in the 40's and built The Haskins Company from scratch. Did you know that The Longhorn st...
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By Rick Callaham, Spokane Realtor
(Team Quintana Real Estate)
Hello Everyone, This is a simple understanding that many Realtors have but most of the home shoppers in Spokane and nationwide don't realize. Many Buyers drive around 'Just Looking' picking up flyers and peeking in windows speculating about the homes. Many see a sign down the street and turn around to go take a look.The problem with this is that people think that if there is a sign and brochures it must be fore sale. I mean the sign says for sale. I get these calls all the time from my clients. They were driving around and saw a sign and want to know why that home wasn't on our list, or want to go see that home. I pull it up on the computer and it already has an offer on it and isn't available or is sold. Many Realtors won't put a sold sing until the last moment. Sometimes they wait unt...
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By Ross Quintana, Real E Smarter Real Estate Coach - 509-362-1966
(Real E Smarter)
Hello Everyone, With all the help of shows on HGTV that promote home remodeling and fixing up, you would think that all of this upgrading would mean your home is ready to sell when it comes time. It will probably fly off the market right? Not Always.Any Realtor with experience will tell you, It's actually hard to sell the nicest home in the neighborhood. Seems backwards, but what happens is that say you live in a neighborhood where home values are 150,000 on average. Your home with all of those upgrades can go too far. Your home may actually be worth 200,000 but people looking to spend 200,000 may be looking in another neighborhood and the people looking in your neighborhood are probably looking for a home around 150,000. So what happens is, your home with all of the amenities sits in t...
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By Ross Quintana, Real E Smarter Real Estate Coach - 509-362-1966
(Real E Smarter)
Hello Everyone, Many people have experienced a home sitting on the market that is not selling. I will outline a basic tool for understanding what is going on and why. This does not take into account your market or location the home is in. But can give you a great way to see what is happening. 1. Your getting no traffic. This is usually one of three things. Price is not even in the right range, condition is poor, or your home is not being marketed better than your competition.2. Getting a little traffic but no offers. Price is a little to high, Condition can be improved like some home staging, or home is being poorly advertised, bad pictures, not in enough places, or the ads look bad.  3. Getting good traffic but no offers. Your competition is beating you. They are going to your house an...
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By Bryan Quinn
(Eagle Nationwide Mortgage Company)
Spokane is located approximately 5 hours (drive time) or 50 minutes by plane from Seattle, Washington and Portland, Oregon. Spokane is home to the largest WiFi Hot Zone in the U.S. A high-speed broadband wireless network covers a 100-block area and is available for free public Internet access by any computer, portable or handheld device that supports WiFi.Spokane's median priced sale home was $160,000, which proves that Spokane is one of the least costly cities to purchase a home. Spokane offers a wide range of activies for all ages including Broadway performances, art galleries, sporting events as well as outdoor recreational activities. The Inland Northwest is a great place for all season activities such as hunting and fishing, hiking and skiiing, mountain biking, boating, and golf ju...
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By Ross Quintana, Real E Smarter Real Estate Coach - 509-362-1966
(Real E Smarter)
Hello Everyone,Click play to listen to this blog Let's take a moment and address this issue. Price is the smallest word with the biggest impact on your sale. Selling a a Home in Spokane Washington is not the same as selling a home in other cities. In some ways it is, but in some ways it isn't. What I mean is that Spokane is very price oriented. There are 2 reasons this is true.1. Our market values are smaller than many cities of our size. The lower the values, the more every thousand counts. Say you have a 300,000 home or a 90,000 home. 10,000 on the 300,000 home is not a big deal, but 10,000 at the other level may price out a first time home buyer or be all of the equity a seller has. Selling homes in lower price ranges is actually harder when it comes to the numbers for all parties. 2...
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By Sarah Reinhart
(Brumback Residential)
 20 Ways to Make Your House Shine!!!1.) Get rid of the clutter. Buyers that walk into a cluttered house will automatically assume you don't have enough storage space. Get boxes, pack up all the clutter and store it at a friend's house or at rental storage. A cluttered house will not show well, because all buyers will see is the clutter, not the floor plan or your great tile job. Don't just throw it into the garage either, because they will look there, too.2.) Clean, clean, clean. Hire a house cleaner service if you have to, but get that home sparkling, especially your bathroom and kitchen. Clean grout, scrub floors, shine faucets, clean the oven, etc. etc. And dust! Get under that furniture and get rid of dust bunnies. People will look under, around, and inside of all parts of your hous...
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By Sarah Reinhart
(Brumback Residential)
 Have you ever had a experience that only took a moment of time, but changed your life forever?  I have.... Here is the story:  My adopted grandfather, Ray Murphy, passed away last year in Spokane, WA and I was the one who ended up packing up his belongings and cleaning out his condo.  My children were aged one and two and I was already tired to the bone.  (With children only 19 months apart...I had not had a full nights sleep in several years.)  The stress and grief of the situation combined with my chronic sleep deprivation to create a brittle and ugly layer over my mood and attitude.  So, here I am surrounded the natural chaos of small children packing and cleaning the home of a ailing loved one.  They are running through the 50 years of accumulation and clutter while howling like tw...
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By Rick Callaham, Spokane Realtor
(Team Quintana Real Estate)
Hello Everyone, I just wanted to touch on a trend that has been happening and yet people haven't realized the real impact of it yet. It's the fact that in our society most trends like the cell phone, email, and netflix, are all a result of our fast paced lives that cause us to seek better and more efficient ways to do things. How does this affect Real Estate? The ability to predict trends and watch their impact on the world is very powerful. In Real Estate I remember when virtual tours first came out. They were a novelty for a small group of agents, now they are the norm. The fact is people don't have the time to get loaded up with the kids and waste time and gas to look at only a few properties only to find out that it smells like cat urine, the carpets are damaged, the rooms are too s...
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Call Spokane Realtor Emily Turley @ Tamarack Realty 509-922-7076 http://www.spokanesagent.com/ Spokane Home Sellers Getting the Highest Price in the Shortest Time In order to get the highest price in the shortest time, you need to know how to market your home. The better you market your home, the more offers you will get. And the more offers you get, the more choices you have to get the price and terms you want. The most important factor of marketing your home is pricing it right. Your price should be adjusted to reflect the market, and the property's worth. The key is to get many people checking out your property at a fair price instead of having no buyers because your price is set too high.
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