Spokane Real Estate Market Improving - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Spokane Real Estate Market Improving

Posted: Updated:

SPOKANE, Wash. - During the recession it became increasingly difficult to take out a home loan. Now, here in Spokane, the real estate market is finally starting to pick back up thanks to low interest rates and high demand from new home buyers.

Marianne Guenther Bornhoft, a local realtor, said "It will be very interesting to see with loosening some credit issues for buyers in the past it's been pretty tight. We had such an issue a long time ago, the lending requirements were so tough, it's almost impossible for anyone unless you had a perfect credit score to buy something."

According to The Nation Association of Realtor's, total home sales last year were the highest they've been in five years and are expected to stay that way through this year as well. Right now the Obama administration is working to make more home loans available to buyers with lower credit scores. Realtor's we spoke with here in Spokane say this is already making a difference.

They say that within the last three to four weeks homes have been selling faster, leaving fewer left on the market. The realtor we spoke with said she personally listed her home last Saturday and by the next morning, she already had an offer. Nationally the average time a home spent up for sale in December was 73 days. Rob Higgins of The Association of Spokane Realtor's said "I would think it's an excellent time because the inventory is low and if you price your house right it should sell right away."

Marianne did tell KHQ that Real Estate is seasonal, when the weather gets better the market improves. We're also told the biggest factor in whether your home sells is where you price it, so, be sure to check comparable home prices in your area before you list it.

  • Top Stories from KHQTop StoriesMore>>

  • 3rd N. Spokane Fast Food Robbery In Three Days

    3rd N. Spokane Fast Food Robbery In Three Days

    Friday, April 18 2014 1:15 AM EDT2014-04-18 05:15:21 GMT
    SPOKANE, Wash.- Spokane Police tell us they have taken two people of interest into custody following a robbery at the Shadle Park McDonald's. It's the third fast food restaurant robbery in the Spokane area in the last three days. The robbery happened at about 6 p.m. Thursday at the McDonald's near N. Belt St. and W. Wellesley Ave.More >>
    SPOKANE, Wash.- Spokane Police tell us they have taken two people of interest into custody following a robbery at the Shadle Park McDonald's. It's the third fast food restaurant robbery in the Spokane area in the last three days. The robbery happened at about 6 p.m. Thursday at the McDonald's near N. Belt St. and W. Wellesley Ave.More >>
  • Gruesome Murder Trial Continues In Spokane; Alex Rozier Reports

    Gruesome Murder Trial Continues In Spokane; Alex Rozier Reports

    Thursday, April 17 2014 8:35 PM EDT2014-04-18 00:35:52 GMT
    SPOKANE, WA. – The murder trial for suspected killer Daniel Arteaga continued at the Spokane County Courthouse on Thursday as one of the lead investigators took the stand discussing evidence found the night of Kim Schmidt’s death. Arteaga is on trial for the murder of Schmidt, a 34 year old mother he dated for more than 6 years.More >>
    SPOKANE, WA. – The murder trial for suspected killer Daniel Arteaga continued at the Spokane County Courthouse on Thursday as one of the lead investigators took the stand discussing evidence found the night of Kim Schmidt’s death. Arteaga is on trial for the murder of Schmidt, a 34 year old mother he dated for more than 6 years.More >>
  • The Isaac Foundation Helping Those Dealing With Autism

    The Isaac Foundation Helping Those Dealing With Autism

    Thursday, April 17 2014 8:31 PM EDT2014-04-18 00:31:07 GMT
    SPOKANE, Wash. - New numbers from the Center For Disease Control and Prevention show more children are being diagnosed with autism spectrum disorder.
    More >>
    SPOKANE, Wash. - New numbers from the Center For Disease Control and Prevention show more children are being diagnosed with autism spectrum disorder. According to the CDC, autism spectrum disorder affects 1 in every 68 kids. There is no cure but therapy can help children with autism improve speech, motor skills and even their social interactions.
    More >>
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KHQ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.