Spokane Real Estate Voice: January 2012

2011 Spokane Real Estate Statistics Year End 

2011 was an unusual year for many Spokane area Realtor's. Being in the trenches, I see a variety of attitudes and outcomes.

There was a total of 8701 homes listed for sale (represents Residential homes in Spokane under 1 acre) and a total of 4020 closed respectively.

The average sales price was 167,665 (down from 183,483 in 2010)and the median price was 154,900 (down from 167,665 in 2010 end).

This reflects a 5.1% decrease in value for median homes..

Interest rates were at a historical low average at 4.42%. This had less effect on boosting home sales than I personally had hoped for. However, Spokane has a far more stable market than many. We are lucky to be here! 2012 has a great ring to it! :)

If you would like a monthly report e-mailed to you directly,or a personalized neighborhood review-  feel free to e-mail me at bethannlong@gmail.com

(Statistics provided by the Spokane Association of Realtor's.)

BEWARE of Craig's list SCAM and spread the word!

This is old news to most of us. But it has been happening in greater frequency so I think we should help get the word out to the public.

Scam Artists are copying photo's of homes for sale on the Internet. They are posting them at a good price for RENT on Craigs list and other sites. They even e-mail potential renter's "proof of ownership". They also make up false e-mail addresses in the name of the actual owner (which can usually be researched quite readily). The scam artists then asks the potential renter all kinds of questions, often obtaining a whole lot of personal and financial information.

Now, you wonder why on earth someone would agree to rent a home they have never walked through. Well, it happens all the time with folks relocating. The scammers pose as property management companies, have official looking documents and ask for things like: first and last months rent, deposists and other fee's. They usually say the are out of the country for some noble reason such as missions. They claim they will mail the keys once they get the deposit money.

Having increased Internet exposure for our listings is great, but of course the crooks have to come up with something like this.

I got two calls last week when people drove by my listings they were hoping to rent from these criminals! They saw my for sale sign and called me. I was able to save them both right before they were ready to give out their information! The scammers charge what appears to be reasonable, but realistic rents for these homes, but under what is the likely rent. This makes it extra appealing and tempting on the consumer.

It just infuriates me that out listings are being abused this way! Luckily- I don't know of nay instances where seller's can be harmed.

BEWARE and be on the look out for YOUR LISTINGS FALSELY ADVERTISED AS RENTALS! Of course most of us don't have time to check this out- but just be mindful that it is happening.

And to the rest of us eeking out an honest living, all the best to you!