Gem State Guide

What is the state of our market? Part Two

2009-06-25T09:52:00.000-07:00

In our May 19 blog, we began look at our current market conditions, spearating rumor from fact. Let's continue the discussion...

As a Buyer… Contrary to what you may have heard, this is the time to buy!!! Interest rates (which I will discuss more in a later blog)are at close to HISTORIC lows. Last month we were seeing refi’s (which I will ALSO discuss later) on a 30 year loan and on home purchases still around the 5% mark. This is the close to lowest they have been in my 15 year real estate career.

All of this means your purchasing dollar goes farther. For example, in 2001, the average rates we were seeing on a 30 year mortgage were at 7%. So let’s say that I had a client buying a house back then for $150,000. Their monthly payment would have been $997.95. Today, buying that SAME house at that SAME price, their approximate payment would be $760.03. That is a monthly savings of $237!!! You are certainly getting more bang for your buck today!

Additionally, housing prices in the Valley are lower than they have been in 4 years. It has been my experience these last few months that in general houses are selling for what they would have sold for back in 2004. This is a far cry from what they would have sold for back in May of 2007 when we were hitting our value peak here in the Valley.

So if you look at both the combination of interest rates, lower prices, and the amount of inventory to choose from, you see that we have created a “perfect storm” in which to buy a home!

Add to this that if some of you are interested in being a first time home buyer, the government is offering some big tax incentives right now. I want you to write down this link if you are a first time home buyer: http://www.federalhousingtaxcredit.com/. According to this site, a tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid. This is amazing news!
So we see that the FACTS are telling us that it is a great time to buy, even if the news is telling us it is the time to fear.

In my next post, I will focus on the other side of the coin: What a seller should know in our current market.

Check this out! We are #1!

2009-06-16T08:26:00.000-07:00

According to a recent article in Outdoor Life Magazine, Lewiston is ranked as the #1 spot in the US for "Affordable, thriving and perfectly wild towns in America." So if you are interestedwhat Outdoor Life presents as the 2nd Annual Top 200 Towns for Sportsmen, check out this link.

http://www.outdoorlife.com/photos/gallery/hunting/2009/05/top-200-towns?photo=10

Some positive news...

2009-06-11T11:04:00.000-07:00

The following article was taken directly from the Lewiston Tribune and highlights what the market appears to be doing in our community.

Most property values in Nez Perce County remain stable
By Sandra L. Lee of the Tribune

Saturday, May 2, 2009

East Main Street businesses, apartments and farm ground are seeing the greatest increases in property values this year, Nez Perce County Assessor Daniel J. Anderson said.

However, most property owners in the county won't see any dramatic changes - up or down - in the notices going out late this month, Anderson said.

"The majority of folks are going to see a level (value) or an actual decrease, a small decrease," Anderson said.

The exception is East Lewiston commercial property that will rocket up 29 percent after being unchanged the past five years. The assessor's office looks at a different part of the city or classification of businesses each year. Averaged, East Main has gone up about 5 percent a year, he said, but it's still a good value compared with other commercial areas.

For instance, the downtown area west of Lincoln Street last year averaged increases of 9 percent for land and 22 percent for improvements.

Based on past sales, values of $1.50 a square foot on East Main will go to about $1.93, or $2 up to $2.60, none of which are anywhere close to Thain Road or 21st Street values, he said.

Throughout the county, apartment values are going up an average of 13 percent and farm ground by 10 percent. Condominiums will increase an average of 2 percent to 3 percent.

The county is seeing the reverse of what happened when residential values were escalating wildly in parts of the nation, but seeing relatively modest increases here, Anderson said. Now, homeowners in some of those regions are finding their houses are worth less than they owe, but values here are either flat or within a percent or two up or down from last year's values.

Where there are increases in residential properties, it's likely to be a couple percent, up to about 7 percent for newer manufactured homes in courts and parks, Anderson said. Manufactured homes on their own lots, however, are flat or even down a bit.

The more moderately priced houses, up to about $150,000, will see about a 5 percent raise.

"A case could easily have been made that I could have raised almost all property 5 percent because last year 70 percent of the sales sold for more than we had just raised them to," he said

"I'm given latitude by the State Tax Commission to be within a range based on the actual sales that occur between 90 percent and 110 percent. We're statistically setting around 95 percent, and I have opted to take a wait-and-see attitude as far as what's going to happen with sales in 2009."

Anderson said a couple things are protecting the market here. One is the continued stability of employment at places like Clearwater Paper, ATK, Regence BlueShield, St. Joseph Regional Medical Center and Lewis-Clark State College. There also wasn't a large stock of houses built on speculation, such as existed in other locations, to drive down the market.

New housing starts are down somewhat, but haven't stopped completely.

In 2008, permits were issued inside Lewiston for 40 new residences and seven manufactured homes. Permits for 15 of those stick-built houses and one manufactured home were issued in the first four months of 2008, compared with 10 house permits and two manufactured homes in the same period this year, according to Sarah Redenbaugh, permit representative with the Community Development Department.

---

Lee may be contacted at slee@lmtribune.com or (208) 848-2266.

What is the state of our market? Part One...

2009-05-19T09:44:00.000-07:00

There are lots of interesting rumors, truths and lies going around related to our market. Most of this stems from the national state of the economy and the news we are being fed on the internet, television, and newspaper: that we are in a dire state and that the sky is falling.

While it is true that there have been times that the market has been hotter, we are in no way in a state of emergency. Foreclosure facts and figures even from places as close as Boise have little real affect on us. We are impacted by the national and state issues, but we are not strangled by them either.

So what does our local market look like right now? The following are some numbers pulled by my brokers in the last few months.

There are currently approximately 390 homes on the market. Most of these are 3 and 4 bedroom homes, and their average list price is around $228,000.

Last month, approximately 31 houses sold. Their average sale price was $150,800. They sat on the market an average of 158 days. They sold for about 94% of their list price.

Examining these numbers, we learn a few facts about our market.

1. The lower priced houses are selling. We are seeing that houses priced under $150,000 have a good chance of selling.
2. We have 12 months of inventory sitting there. In a fast paced market, we usually have about 3-4 months worth.
3. If you are planning to sell, you need to expect even if you are priced right to sit on the market for a good 5 months.

Over the next few weeks and posts, I will explain how these numbers affect you!

Creative Ways to Buy a Home

2009-05-12T09:49:00.000-07:00

Here are four ways to expand the box of beginning home ownership when you don't have the needed downpayment or credit to qualify.
1. Speak with your Realtor and lender to determine down payment programs that may cover part or all of the downpayment.
2. Work closing costs into an offer so that the seller covers them as part of the contract.
3. Ask a family member to be a co-signer on the loan.
4. You can try a lease with an option to buy. This will allow you to rent while you save up for the downpayment needed.
For more information, contact your local Realtor and reputable lender to help with your individual situation.

What to make of averages...

2009-05-07T09:44:00.000-07:00

Averages can misinform. Picture a room with Bill Gates, Warren Buffett, and eight other people, each of whom earn $100,000 annually. If a statistician were to average the annual incomes of the 10 inhabitants, the average annual income would be several million dollars a year, even though eight of the 10 inhabitants make nowhere near that amount. It would be impossible to implement a successful sales strategy based on that average income. In other words, averages can be irrelevant.

Such is often the case with real estate. Home prices in Phoenix tumbled an average of 51% from 2006 highs to the present, while Dallas prices tumbled an average of 11%. Average these two numbers and you get an average decline of 31%, which makes the Phoenix market look more robust than it is and the Dallas market less robust. What's more, that average is even more misleading because it is based on an average of an average.

The point is, don't let national averages influence your opinion of the economy too much. Most business is local, and what's happening in one part of the country can be completely different from what is happening in another part of the country. What's happening in your part of the country is what's most relevant.

-- This article was taken from a newsletter sent to us by Brian Bledsoe; it is not our original composition.

Did you miss the Dave Ramsey Town Hall for Hope?

2009-04-30T10:17:00.000-07:00

We just received the following exciting news from The Dave Ramsey Show:

"The Town Hall For Hope event was a huge success with over 1 million people watching and listening. We are getting bombarded with requests to purchase the event on DVD, download, etc.

Dave will announce this afternoon that videos of the event will be made available through the Dave Ramsey online store. The video will be available in three formats: a video download, an online streaming version and a 10-pack DVD bundle.

The giveaway

The first one thousand people to select the video download will get it for free. If you’re signed up to get the Dave Ramsey newsletter, you’ll receive an email today with a link to the offer page and more details. This may go out in a few hours or possibly sooner.

The details

The costs are:

After the first 1,000 free downloads,

$7.95 – Video Download (download to your computer, burn to a DVD, highest quality)

$1.99 – Streaming Video (watch it on your computer, lower quality)

$38.95 – 10-pack DVD Bundle (to give away to friends)

Free -- www.hulu.com will offer free viewing online in a couple of weeks."

Take advantage of this great offer!

Got Paint?

2009-04-16T10:05:00.000-07:00

4 Interior Painting Tips

Painting is a quick and easy way to liven up a house. But some smart prep work can make a huge difference in the quality of the results.

April 2009

1.Get the surface ready.

You want the paint to glide on smoothly, so be sure the surface is clean before you start painting. Remove any handprints, dirt, or scuff marks. Lightly sand any glossy spots to avoid streaks.

2. Select a paint sheen and color.

Ah, the choices! Many paint stores are making it easier to narrow down your choices by offering small trial sizes so that you can test the color at home and look for any variations in daylight and night. Lighting has a big effect on the way color appears. Remember: Higher sheen paints tend to offer more durability than flat paints, so use them in high-traffic areas. Stain or low-lustre finishes offer more warmth and depth than a flat paint. Consider a high sheen paint on the ceiling, which offers good reflection in the room.

3. Don’t go cheap on the paint.

It’s always tempting to save a buck, but it might not be worth it on paint. Painting is a big job, so you want the expense and quality to show. The Rohm and Haas Paint Quality Institute, a national painting education group, recommends purchasing top-quality acrylic latex interior paint, which will go on smoothly and allow for easy soap and water cleanups.

4. Choose the right paint tools.

If you’re using a roller to paint, select the right length of roller nap cover for proper paint coverage. The smoother your painting surface, the shorter the nap should be. Use synthetic materials, which are made from nylon or polyester, when applying latex or water-based paints.

Source: The Rohm and Haas Paint Quality Institute
This article was taken directly from Realtor Magazine online, April 2009.

The Murphy Bed May Be Making a Comeback

2009-04-09T11:25:00.000-07:00

This article was taken directly from Realtor Magazine Online, January 2009 and was written by Mary Beth Klatt who is a freelance writer with a passion for architecture and home design.

The Versatile Murphy Bed

Home office by day, comfy guest bedroom by night. Murphy beds are making a comeback as home owners seek to maximize their space.

By Mary Beth Klatt | January 2009

A charming, retro space-saver is back in style. The Murphy bed, which can be flipped up inside a closet or cabinet when not in use, provides versatility in dwellings ranging from studios to country homes.

Once a favorite prop for comedians in early 20th century silent film era, the Murphy bed is now seeing its real heyday—especially in upscale urban lofts—some real estate practitioners and interior designers say.

"There's a demand for it," says William Robbins, a Columbus, Ohio real estate practitioner. "But at the same time, it's not widely available."

Robbins is surprised by how few people actually know about the Murphy bed, considering what a boon it would be for home owners who are short on space. He once told a client that thought a Murphy bed would be useful, but “in return, all I got was a blank stare," he recalls. At least one of his friends appreciates the versatility, and has one ready for guests in a spare bedroom. "She loves it," he says.

The Murphy bed got its name from its inventor, William Murphy, a Stockton, Calif.,

stagecoach driver. He and his wife didn't have enough room to entertain in their small San

Francisco home, so he created a way to make his bed disappear when company was over.

Murphy patented his invention in 1912, and the space-saver became instantly popular in apartment buildings nationwide. Architects would design buildings with closets large enough to fit the popular bed. By the 1920s, Murphy had showrooms across the country.

During the Depression, Murphy consolidated his business and moved to New York City. Unfortunately, his wall bed design lost popularity, especially after World War II when Americans moved into large homes in the suburbs. The Murphy, as the bed is sometimes known, didn't see a resurgence until the late 1970s and early 1980s when the oil embargo kicked in and Americans downsized, says Eugene Kolakowski, vice president of Murphy Bed Co. Inc., of Farmingdale, N.Y.

The bed became even more widespread after a 1989 court ruling, in which Murphy beds lost trademark protection. At that point, knock offs entered the market in droves.

By the 1990s, the Murphy bed evolved into a sophisticated system complete with cabinetry. Empty nesters put them in home offices or dens for visiting grandchildren, while landlords began retrofitting 1950s-era originals.

But even today, some misconceptions exist—probably due to those funny silent films mentioned earlier. The biggest fallacy is probably that the bed can fold up while someone is sleeping on it, or fall down out of the wall unexpectedly. Not true, says Kolakowski: "They're designed so that they lean back into the closet, so they can never fall out," says Kolakowski.

Many people also think that the beds can’t be moved to a new residence, as traditional beds can be. In fact, current models can be disassembled and transported to another location. A well-made bed can last 50 to 60 years. It's a good thing, top-of-the-line beds aren't cheap.

Prices for Murphy Bed Co. Inc's products range from $715 for an "econo" twin to $1,280 for a California king. Mattresses range from $305 to $795, and cabinetry can add as much as $2,420 to the total price.

Robbins says developers would be smart to offer a built-in Murphy as an upgrade in a small apartment. The customization would distinguish the unit from similar ones on the market. That's definitely the case in New York City, where the beds have long been in vogue and even the well-to-do often live in tiny, expensive rentals.

Harold Stark Industrial Development installed the space-savers in a renovated 50-year-old apartment building. "They give a little more room during the day," says company spokesperson Peggy Dragone.

If a listing has a Murphy bed, look for these features:

They're usually stored vertically in a wider-than-normal and deep closet or cabinet.
Older beds are usually inside deep and wide closets. These typically don't have box springs, just frames.
Watch for creaky parts that might need to be fixed.
Contemporary versions have glass, mirror, and lights as well as shelves for computers, books, television sets and stereos. Some owners even decorate the wall above the area where the pillow rests with artwork that won't be knocked down by an upright mattress.

While Murphy beds are ideal for tiny apartments, they’re not just for small spaces.

After Becky and Tom Stilp had a pool house built at their summer home near New Buffalo, Mich., they had a queen-sized Murphy bed installed inside. It can be opened and closed with a set of sliding doors on a barn-door track. The bed gets used by relatives and friends who come over for barbecues and holiday parties.

Indeed, versatility is the best feature of Murphy beds, says Kolakowsky. A bedroom by night can turn into a sewing room or exercise room by day. And today’s models are cinch to open and close. "Even a seven-year-old can operate one," says Kolakowski.

Short Sale versus Foreclosure Consequences

2009-03-26T10:12:00.000-07:00

The following information was taken from Northwest Insights, a publication by Darlene Stouder.

(Article begins here; then please click on charts below for enlarged view and complete information detailing short sale and foreclosure differences.)

"A short sale is the term used to describe a house that is sold for less than what is owed to the bank. Proceeds from the sale fall short of the balance owed on a loan secured by the property sold. The bak ofr mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part of the mortgagor. Negotiation is all done through communication with a bank's loss mitigation or workour department. A short sale typically is executed to prevent a home foreclosure."

Improving Your Credit Rating

2009-03-12T09:46:00.000-07:00

This report came from MetLife Home Loans, a division of MetLife Bank.

"Perhaps the most significant part of your credit report is your credit score. Credit scores range from 350 to 850, with 850 being the best possible credit score you can receive and 350 being the worst. There are five factors that determine your credit score:

YOUR PAYMENT HISTORY: 35% impact on your credit score... pay your bills on time.

THE BALANCE OWED VERSUS YOUR AVAILABLE BALANCE: 30% impact... keep balance at 50% of available.

YOUR CREDIT HISTORY(HOW LONG ACCOUNTS HAVE BEEN OPENED): 15% of your score.

THE TYPE OF CREDIT YOU HAVE: 10% of your score. A variety of credit is best.

THE RECENT INQUIRIES INTO YOUR CREDIT: 10% impact. The less inquiries, the better.

Keep the above factors in mind and use them to improve your existing credit score. Most, if all, loan rates are based heavily on your credit score; be sure to take advantage of the lowest rates by keeping your credit score high."

Got a downpayment??

2009-03-05T14:13:00.001-08:00

This article was taken directly from the Lewiston Morning Tribune, Wednesday, March 5, 2009.

FHA loans allow creativity

Frugal Homeowner

By Julie Garton-Good

Wednesday, March 4, 2009

Q: I'm engaged, and my fiance and I would like to take advantage of the great buyer's market for our first home. We have good income and credit, but are lacking in the down payment department. Any ideas? - D.U.

A: This is a great first-time buyers' market. The standard Federal Housing Administration 203(b) program is an excellent mortgage for first-time buyers and has perhaps the most creative assortment of down payment options out there right now.

The following are some of the many options to help you shake the down payment money tree:

1. Bridal registry accounts: This is one resource you shouldn't overlook. Since 1997, FHA has allowed friends and relatives to contribute to an account for down payment and closing costs for engaged parties. In fact, similar accounts can be set up for other occasions (e.g. graduation gifts, etc.) for anyone who's a potential homebuyer.

Here's how it works: You contact a lender who originates FHA loans and set up a federally insured depository account in both you and your fiance's name. Funds may be deposited by friends and relatives directly into the account, or cash or check sent to you to for deposit. Not only will this approach help you accumulate your down payment, but money will be tracked using FHA guidelines, in preparation for your loan application. And yes, you can use the money to close on a home prior to being married. In fact, the funds remain under the control of the individuals for whom they're deposited and can be withdrawn at any time prior to use.

2. Gifted funds: Family, close friends (with no financial interest), employers and even charitable organizations can gift funds to you for all or part of the down payment. The primary criteria are that funds have no repayment strings to the giver.

3. Loans from immediate family members: Loans received from family members must be calculated in your debt ratios for qualifying, but can be either unsecured or security against the property you're purchasing.

4. Rent credit: If you desire to purchase a home you're currently renting, the amount of rental payments that exceed the fair market rent can be considered as part of the cash investment. For example, if fair market rent for the property (as determined by the lender and appraiser) is $850, but your rent is $1,000, $150 each month can be counted as cash contribution applied at closing.

5. Sweat equity: If you perform any labor or contribute materials to a property prior to closing, those amounts are considered cash contributions. This applies to both new and resale construction.

6. Sale of personal property: If you plan to sell personal property to generate cash for the purchase (like a car, motorcycle, boat or eBay sale), those funds can apply to your down payment. This would, would, however, require a third-party estimate of value.

7. Sales commission credit: If a family member is a licensed real estate agent and is entitled to commission from the listing/sale of your house, he/she can gift that money to you for the purchase.

Not only is the market ripe for first-time buyers, there are a plethora of creative down payment options through programs like FHA. There's no need to let the lack of a large cash down payment stand in your way.

---

Julie Garton-Good is a Realtor, international speaker and syndicated columnist. Her e-mail address is jgg@juliegarton-good.com.

Snap shot of the National Market...

2009-02-24T08:53:00.000-08:00

This latest news comes straight from Realtor Magazine, Januaury 2009:

"After falling for two years in a row, sales of existing homes are expected to edge up 6% in 2009 to 5.3 million. Even with an increase in unemployment, improved affordability is the reason.

Meanwhile, new-home sales, already off more than 50 percent from their peak of 1 million in the third quarter 0f 2006, are expected to continue dropping, to about 413,000 in 2009.

[Home] Prices have dropped nationally about 12 percent from their peak in 2006, from a national median of $221,900 to 198,600. In some of the markets that were hottest during the boom, prices have dropped even more, as much as 30 percent in Los Angeles and 24 percent in Las Vegas. The drop has made life tough for sellers with little equity in their homes: Some 40 percent of sales in the third quarter of 2008 were distressed sales, either short sales or foreclosures, accordingt o NAR data.

For 2009, prices are expected to turn a corner."

How Many Years Should My Stuff Last?

2009-02-12T14:18:00.000-08:00

Replacing items like windows, appliances and roofing can be quite spendy. So how long should you expect these updates and improvements to last?

30-50 years
Thermostats: 35 years
Wooden windows: 30 years
Wood shake roofs: 30 years
French interior doors: 30-50 years

10-20 years
Aluminum windows: 15-20 years
Asphalt shingle roofs: 20 years
Dryers and Refrigerators: 13 years
Air conditioning units: 10-15 years
Furnaces: 15-20 years
Interior and exterior paints: 15+ years

5-10 years
Heat and smoke detectors: 5-10 years
Dishwashers: 9 years
Microwave ovens: 9 years
Carpet: 8-10 years

Owners can use this information to decide whether or not to replace something before a move... or just in the normal year to year ownership.

Additionally, buyers can factor these "life spans" in as they contemplate the ownership costs of the home in upcoming years.

Please note that all figures were taken from Realtor Magazinem February 2009, and useful life of all items depends on maintenance, use, quality, and exposure to climate.

Top Five Kitchen and Bath Features Buyers Want Most

2009-02-05T11:45:00.000-08:00

Have you ever wondered what features home buyers are looking for? Are you considering a remodel and want to know where to get the most bang for your buck? Here is the list on what to invest in so that you please the most buyers!

36% want a separate shower enclosure in the master bath
31% want an eat-in Kitchen
24% want high-end appliances
23% want granite countertops
21% want a kitchen island

So if you are considering a remodel or were just curious, consider yourself informed!

*These percentages were reported by Realtor Magazine based on the National Association of Realtors 2007 Profile of Buyer's Home Feature Preferences.

Market Updates

2009-01-19T11:40:00.000-08:00

"Currently, we are 152 sales behind last year's pace, and yet, the average sale price is up 3.7%, and the median sale prices is up 3.5% over last year. There are 407 homes on the market, 36 of which are under contract. Of the currently listings, the average price is $233,702, and the average days on the market are 121 days. The average sales price year-to date for the sold homes is $176,622, and the median is $158,500. The average days on the market for the sold homes are 106 days. These statistics include Lewiston, Clarkston, Asotin, Waha, and Tammany." - Lewiston Chamber of Commerce 1/2009

Very POSITIVE Lewiston Clarkston Real Estate Udate

2008-12-30T13:23:00.000-08:00

Good News! Our area has excellent numbers considering what the national media would want us to believe...NOW is the time to buy real estate! Don't wait! Buy while the interest rates are at a near all time low! And qualifying First Time Buyers can recieve up to $7500 off the top of their 09 Income Taxes!

Local Certified Appraiser, Gary Chase, of Chase Appraisals, gave the following report: The FHFA house-price indicators for the 3rd Quarter of this year show Lewiston, ID -Clarkston,WA, as up a cumulative 4.0% for the last 1 year 32.5% for 3 years and 65.5% for the past 5 years. The one year figures compare to a -2% for Idaho overall and a -2.1% for Washington overall.

Year end stats will be available next week, but a quick glance at market conditions in the LCValley show that our sales numbers are down significantly per the LCAR MLS. Our sales prices remain stable, and the number of foreclosures is stable. National News stat's are incorrect for our area! Good News!

Join Me In Giving Thanks to our Troops!

2008-12-17T10:55:00.001-08:00

Brrrr ... It's cold in Lewiston Valley

2008-12-16T10:18:00.000-08:00

Rarely do we see the Lewiston Clarkston hill "snow white" for more than a day or two! The weatherman says we will be having this 'snowscape' for the next week to 10 days. The Snake and Clearwater Rivers are also showing signs of icing over at the confluence, another rarity! We are thinking positive - - the blue sky and the crisp air are energizing. Remember- this is referred to as the Banana Belt of the Pacific Northwest. We're not used to sub freezing temperatures! Our friends have blanketed their horses to keep them toasy warm!

Peter Pan live at Lewiston Civic Theater- a MUST see!

2008-12-09T14:49:00.000-08:00

Fantasy reigns with Peter Pan "flying" into Wendy's room, magic dust is sprinkled in the air, and Tinkerbelle twitters - the live music plays and we decide we will.... "Never Grow Up"! Our Civic theater presented one of its best productions ever, as the cast included many young-ins, a host of teens, various grown ups, the BEST Nana ever, and most innovative ticking Alligator. Captain Hooke was not too scarry for Liza and Lauryn Higgins, 31/2 and 5 years old, attending their first live theater performance on Opening Night. So enthralled, they would not hear of going home at Intermission. They wanted to stay to the end and experience every moment. Thank You to all involved in the over the top event! We LOVE living in this Valley!

Asotin County Aquatic Center Update

2008-12-02T14:01:00.000-08:00

There will be a County Planning Meeting at the Clarkston City Hall tonight, 12-2-08, 5:30 PM. Anyone interested in attending can do so, but there may not be any time to speak to any issues. One issue is whether the City of Clarkston will opt out of the 0.3 tax levy which would allow the Aquatic Center to stay fully open and continue to serve the needs of the entire valley, as was previously agreed upon and budgeted for until the City changed its mind and decided to opt in. The figures show that the Aquatic center is used by all age groups, from infants to the elderly, for recreation as well as health and therapy, and there are over 70,000 yearly swims! Its presence in our Valley is far reaching!

Housing Interest Rates Fall Back to Record Lows 11-25-08

2008-11-25T15:59:00.000-08:00

Just in from our local lenders, NOW is the time to buy a home in the Lewiston Clarkston Valley! Conventional 30 year fixed rates fell again today, and some lenders offer no points to qualified buyers! FHA/VA/IDFHA rates are also down today. Don't miss out this time! There are many wonderful buys, as sellers who must sell are just waiting for buyer's! A list of properties in your price range is available upon request!

National Statistics

2008-11-19T14:37:00.001-08:00

Today I was sent a wonderful map showing the market changes around the country! Click Here to see it. Click on the little homes representing the areas and it will show the median price and percentage of drop or rise in that area. From looking at this map the LC Valley would compare best with the Spokane, WA maket changes.

First Time Homebuyer Informational Seminar

2008-11-11T10:44:00.000-08:00

Anyone who has not OWNED a home in the last 3 years is now considered a First Time Homebuyer, and is invited to attend a free seminar at the Asotin County Library on 5ht and Elm in downtown Clarkston, Wa on December 4, 2008. The seminar will be from 6-7 Pm, and will be Hosted by Keyna Willett of The Advisor's Mortgage Group and Judy Higgins, Realtor, of Coldwell Banker Tomlinson.

Topics to be covered include: Myth vs. Reality in the LC Valley Housing Market-- now is a great time to buy! Tips of how to get the best price in today's market, how to get the most value in a mortgage lender, and how to choose the right home based on monthly payments, not asking price. Limited seating is available, call 305-7896 to reserve your place today.

Real Estate Market Update for LC Valley

2008-11-07T13:38:00.000-08:00

Our local MLS numbers are showing a steady market pace in the Valley as we end our 2008 real estate year. Our average residential dwelling is now selling at about 8% above last year's price, and buyers are paying $168,500 as average price for a 3 bedroom, one plus bath house. Interest rates remain at an affordable 6.25%. The combination of these circumstances makes this a great time to buy in our market.