BethAnn Long, Realtor, e-PRO Spokane Wa Real Estate

I live in an area where short sales and foreclosures are not a major part of our market. But they are incresaing.

However, we do have REO'S, Repo's, short sales, foreclosures...they come by different names and are each subject to unique conditions.

Is attempting to purchase s short sale, or bank owned property right for YOU?

MAYBE, MAYBE NOT.

Will I get a better deal? Maybe, Maybe not. In many cases, there will be " instant equity" however, in some markets many of the good deals get bid up to market value. You be the judge.

Purchasing one of these bank sales can be a grueling, long and difficult process. It often feels like a dead end, when no word comes back from " the bank" for weeks on end.

I had a short sale, listing where 4 MONTHS after receiving a good offer, we still did not have an acceptance from the bank, and the buyer walked the day before they finally called to say they were sending out an appraiser. (BPO)

The REALITY of buying a bank owned or short sale property is something the average home buyer is NOT prepared for.

If you are considering this type of purchase, go in with your eyes wide open, educated that you will need to be VERY, VERY patient and that you cannot plan around this the way you can a "regular" home purchase. There are often (usually) delayed closings, and that makes it VERY difficult to plan around when moving.

Some go much better than others, so realize that much of what (does not) occur in a timely fashion is often outside the control of the Realtor's involved.

Be aware, be educated, be patient, and always have a plan B!

I have been so incredibly busy I have not had much time to BLOG! (work and kids!)

I have always loved writing, ever since I can recall. I have been a songwriter since I was a teenager.

I am not one to journal, but I do like to BLOG! Go figure.

I know many are saying the market is stale. I did have a difficult winter, we had record snowfalls, and many were affected by that and the economy. However, then came Spring...and it has been crazy busy!

I don't say this to brag, but to encourage the reader that the market is local, and quite healthy in some ways here in Spokane. True, it is a difficult Market for sellers. I won't deny it has had an effect on many people, and not for the better. But homes are selling if they are carefully priced.

I have been actually too busy to blog! But I do appreciate the chance to stay in touch with people through the unique avenue of blogging! So, I am getting back in to a routine to keep it a priority!

BethAnn in Spokane

There were 500 closed sales reported in June which is up 28.2% over May when 390 closed sales were reported.

The average sales price for June was $192,970 and the median sales price was $177,500. Both numbers are up from May's average and median prices.

For the first half of the year closed sales total 1,859 compared to 2,407 over the same period last year. Sales are down 22.8%. The average sales price for the first half of this year was $193,888 down 6% compared to last year when the average sales price was $206,161. The median price was $173,500 for the first half of the year. The median sales price is down 5.8% compared to last year when the median price was $184,150.The inventory is running about 4% below last year. For the first half of this year new home sales reported to the Spokane Association of Realtors total 254 compared to 394 over the same period last year.

Keeping you informed, BethAnn Long with Tomlinson South Inc.

Statistics by: SAR

www.BethAnnHomes.com

Summer in Spokane Wa. is Summer at it's BEST!

With sparkling lakes and Rivers to enjoy, hot days, and everything from the great Downtown Spokane too camping, hiking, and fishing in God's country!

Variety is the spice of Spokane Wa. There is so much to do here in the good old summertime.

Our Spokane Parks are fantastic !

In fact just visit www.SummerinSpokane.com for all kinds of great ideas !

BethAnn Long, Realtor

Tomlinson South Inc. 509-362-4607

www.bethannhomes.com

Bittersweet Goodbye

It is almost unreal to think my youngest children, Colin and Meghan are leaving grade school. They have had 7 wonderful years at Hamblen Elementary K-6. It never ceases to amaze me how quickly time goes by. I see them blossoming into tweenager's and it is exciting and sad all at once.

The world changes at lightening speed, technology is becoming a central part of our moment to moment living, and I sometimes long for simpler days when, as a former stay at home mother of five, I changed diapers for what seemed like decades. I remember at times longingly looking forward to the days when all of my kids would be fully independent. Now I look back with an even deeper longing wondering where time went. The challenge is to enjoy the present and rejoice in the ages and stages that make up the here and now. When our children start sporting cell phones instead of blankies, and laptops instead of lego's, it is truly a bittersweet goodbye. And so it is with tears and giggles, we move on and beyond , away from primary school and into the new challenges of Jr. High years. Meghan and Colin, congratulations !

This is a photo of Meghan and Colin, age 2 ...time goes by so fast!!! Here they are now:

June 2009 6th grade promotion ceremony ~

posted by BethAnn Long, Realtor, Tomlinson South Inc.