Back down under 5!

It's hard to believe we are still hovering at and under 5%. Last Friday I got a rate quote from a local lender that conventional loans were at 4.87% Too bad we can't all qualify to refinance. I have a few investment properties I'd love to lock in at that lower rate... or even at a fixed rate for that matter if I was able to.

We still have a few great months in the real estate market with fair weather, good rates, and unbelievable prices. If there was ever a time to buy it is now. The resale market has picked up considerably and made up the slack that was felt by many of us in the industry with the strangulation of the new construction market. That is good news for the sellers out there with low to mid range properties looking for a good time to buy up.

And don't forget... the November 30th deadline for the $8000 Tax Credit is fast approaching.

Valley Townhouse 3bd 2ba for $120k!

Zero-lot line townhouse w/3BR/2BA and 1 car garage and approx. 1378 sqft. Home features forced air heat and a finished basement. Perfect for investor or 1st time home buyer.
Currently rented at $875/mo. First time buyer may qualify for up to $8000 Federal Tax Credit.

First Time Buyers!!

Okay - I know you've heard all about the $8000 Federal Income Tax Credit for anyone who has not owned a home in the last 3 years. It is a great program but is only valid if you purchase a home before November 30th, 2009. Don't miss out - how often do you get free money from the government. Call or email for details. melissadailey@comcast.net or (cell) 509-879-7858

Crazy Deals!

Lexington Homes has 3 homes in Sommerset View Estate that they are trying to unload and have dropped the prices considerably. In addition, they are offering special financing through Banner Bank at 3.875% with only 5% down on a fixed 30 year rate OR.... even better ZERO down and NO PMI with only a 4.875% 30 year fixed rate. The low rates save $300 to $500 off the going rates at about 5.5%. It is obviously subject to lender approval and all the normal disclaimers but Banner has been very generous with their qualification guidelines.

To sweeten the pot even more... Lexington is also taking homes in on trade. He has completed about 7 trades so far since January. The trade in home has to be at $275k or less and in the Spokane area - all subject to bank approval. Lexington will pay you 90% of the homes appraisal/market value but you do not have to pay agent commission on top of that. It turns out to be a pretty amazing opportunity if someone wants to move up and doesn't want to worry about trying to sell their home.

We have 3 homes left with this financing and trade option:

1) 6016 N Rose Eva Was: $499k NOW:$419,900 www.tourfactory.com/517211

2) 7901 E Central Was: $409k NOW: $325k www.tourfactory.com/516459

3) 8009 E Sommerset Ct. Was: $389k NOW: $309k www.tourfactory.com/514999

Call or email if you have questions on this program.

Melissa A. Dailey

Cell: 509.879.7858

Email: melissadailey@comcast.net

Great New Listing

14902 E. Palomino Lane - The Crest gated community


Here is a beautiful home that is priced very aggressively at $300k+ under the other homes in this development. It is a 6k sqft daylight rancher on 10 acres with 6+ large bedrooms, 6 bathrooms, 4 car garage, theater room & more!

http://tours.tourfactory.com/tours/tour.asp?t=521727&SessionKey={825C8497-5182-49E6-A5DE-D4FAF9F83F38}&r=http%3A%2F%2Fwww%2Etourfactory%2Ecom%2FInventory%2FTourDetails%2Easp%3FnTourID%3D521727

Welcome

As we transition through this downward cycle in the national real estate markets, I thought it would be interesting to track and converse on issues or concerns others may have on what that really means for us here in Spokane.

I have been a real estate agent for Tomlinson Real Estate Group for just over 6 years. During that time, I was able to experience the largest cycle of appreciation and seller's market Spokane has ever experienced. But as those things go, this winter we also experienced the worst market in Spokane history. Fortunately, we do not see the huge rise and falls as some of the other harder hit regions. We tend to be a more conservative market in terms of appreciation which is a safer more stable way to grow.

I will post article or comments on news worthy information and welcome any topics of discussion.