Spokane WA is number 8 for Top Winter Cities!

Top 10 Winter Cities

Spending the winter in Spokane, WA, can be a gamble – but only if you spend it in one of the city’s casinos, such as the new Northern Quest Resort and Casino. In fact, winters in Spokane sizzle with arts, entertainment and nightlife. Nightlife isn’t the only thing heating up in Spokane; the city’s economy is also aglow. Spokane was named one of the top 100 cities to live and launch a business by CNNMoney.com and noted for its growing technical sector.Spokane’s arts and cultural offerings are topped off by a burgeoning wine trail of more than two dozen vineyards and wineries, and yes, most wineries keep their tasting rooms open throughout the year. Treasure hunting is another favorite cold-weather pastime – whether at the Northwest Museum of Arts & Culture in Spokane’s historic Browne’s Addition neighborhood or at the city’s many shops, boutiques, malls and shopping centers. Other hot spots include the INB Performing Arts Center, which plays host to a number of musicians and comedians throughout the winter months, and Gonzaga University, which has a strong men's basketball program. The Spokane Symphony kicks off the season with holiday and special performances that continue well until the spring.

http://livability.com/top-10/top-10-winter-cities/spokane/wa

Fannie Mae, banks halt foreclosures for the holidays

NEW YORK (CNNMoney) -- Happy holidays struggling homeowners! Fannie Mae, Freddie Mac and several large mortgage lenders have pledged not to foreclose on delinquent borrowers during the Christmas season. For homeowners with loans through Fannie Mae (FNMA, Fortune 500) and Freddie Mac (FMCC, Fortune 500), the moratorium will run from Dec. 19 to Jan. 2. During this time, legal and administrative proceedings for evictions may continue, but families will be allowed to stay in their homes, Fannie said in a statement.

"No family should have to give up their home during this holiday season," said Terry Edwards, an executive vice president for Fannie Mae.Among some of the major banks that offer mortgage loans, Chase (JPM, Fortune 500) Mortgage said it will not evict anyone between Dec. 22 and Jan. 2. Wells Fargo (WFC, Fortune 500) will also suspend evictions during that period, but will not shut down its eviction machinery entirely.

For the rest of the article visit: http://money.cnn.com/2011/12/01/real_estate/fannie_mae_foreclosure/index.htm

For information on any homes please call Melissa at (509) 879-7858 or e-mail her at melissadailey@comast.net

Quiet Oversized Fenced Cul-de-Sac Lot w/ Mountain Views!

920 S. Willamette

$85,000

3bd/2ba/Carport

Virtual Tour at: www.tourfactory.com/798329

Quiet oversized fenced cul-de-sac lot with mountain views. Don't curb appraise. Home is spacious & open inside with vaulted ceilings, large kitchen, newer carpet, etc. Large covered deck off kitchen. Lot backs to small wetlands area with ducks and other wildlife. Great value and priced to sell.
Possible lease option or lease purchase. CLA for more details.

Call Melissa for any questions of a showing today at (509) 879-7858.

Foreclosure slowdown stabilizes real estate values

Zillow: Home values down year-over-year in August

Home values were down on a yearly basis in August, but showed relative stability in the near term, according to indices that track home values nationwide. Home values fell 4.5 percent year over year in August, to $172,600, and remained essentially flat compared to July, according to the Zillow Home Value Index, released today. CoreLogic's Home Price Index showed a similar drop year over year, down 4.4 percent, with month-to-month prices also remaining virtually flat.

View the full article at:

http://www.inman.com/news/2011/10/11/foreclosure-slowdown-stabilizes-real-estate-values

Housing Can Be 'Key Engine of Job Growth'

Daily Real Estate News Thursday, October 06, 2011

The National Association of Home Builders is stressing the need for policymakers to remove anti-housing barriers that they say are preventing a housing market recovery. After all, NAHB says, housing can be the answer policymakers have been searching for in boosting jobs and economic recovery.

The housing industry can be the “key engine of job growth” the country needs, says Bob Nielsen, chairman of the National Association of Home Builders.Nielsen says that constructing just 100 single-family homes can generate more than 300 jobs and $8.9 million in taxes and revenue for state, local, and federal governments.

To view the full article go to: http://realtormag.realtor.org/daily-news/2011/10/06/housing-can-be-key-engine-job-growth

Call or E-mail Melissa Dailey at (509) 879-7858 or melissadailey@comcast.net for your real estate needs!

30-year mortgage below 4 pct. for first time ever

WASHINGTON - (AP) -- The average rate on a 30-year fixed mortgage has fallen below 4 percent for the first time in history.

For the lucky few with good jobs and stable finances, it's a rare opportunity to save potentially thousands of dollars each year. For most people, it's a tease and a reminder of how weak their own financial situation is.

On Thursday, Freddie Mac said the rate on the 30-year fixed mortgage fell to 3.94 percent from 4.01 percent last week, the previous low. The average rate on a 15-year fixed loan, a popular refinancing option, dipped to 3.26 percent, also a record.

Mortgage rates are now lower than they were in the early 1950s. The average rate reached 4.08 percent for a few months back then, according to the National Bureau of Economic Research. Although mortgages at that time typically lasted only 20 or 25 years.

For the full article: http://www.newsday.com/news/30-year-mortgage-below-4-pct-for-first-time-ever-1.3226616

Beautiful Cedar Riverfront on 10 Private Treed Acres

35120 N. River Estates

Chattaroy, WA 99003

$350,000

4bd/2ba/2 car garage

Vaulted ceilings with lots of light and Brazillian Cherry floors. Open loft overlooking great room and stone fireplace. Main floor Master with tiled bath, walkin closert and antique dresser style vanity. Great view from master plus doors to full length rear deck with hot tub. Large Italian Kitchen with 6 burner Viking cook top and double ovens and tiled floors. Finished basement with commercial sink and possible in law setup. GFA/CAC paved driveway. Two car attached garage PLUS 20x20 heated shop with 2 car carport. Fenced Garden Area, Playhouse w/ left, and storage shed.

Virtual Tour at:
www.tourfactory.com/792240

Please call or email Melissa for any questions or a private showing today at (509) 879-7858 or melissadailey@comcast.net.

2011 Hot New Home Trends

Hot new-home trends for 2011

Practicality is in, as homebuilders cater to buyers' changing wants and needs.

The housing market may be down, but it's not out. Houses continue to be built across the nation, especially homes aimed at first-time buyers. But the Great Recession has limited the bells and whistles that many people demanded under their new roof even four years ago. Would-be homebuyers want — and are getting — different things from "home sweet home" today.

From front porches to LED lights, here are the top six things experts say are trendy in new homes for 2011. How does next year's wish list compare to yours?

1. Smaller homes that 'live' the same
"One big trend is the smaller homes," says David Barista, editor-in-chief of Professional Builder and Custom Builder magazines. In fact, the median size of new U.S. homes fell from 2,277 square feet in 2007 to 2,135 square feet in 2009, according to the National Association of Home Builders.

"There's a couple drivers here," Barista says. "I don't think buyers are looking for that opulence of several years ago; they're looking for something more modest. (But) they still want the amenities and the spaces" in these smaller homes.

So he's not seeing the number of rooms in a home being cut; instead, the size of the rooms — and the overall home size — is shrinking 10% to 15%. That, of course, also brings down the price, which is key in a market in which new houses are competing against foreclosures.

Despite that shrinkage, Barista says homeowners still want nice touches such as quality faucets, higher-end appliances and granite countertops in that smaller kitchen.

2. The old front porch, revisited
Front and side porches are making a comeback, says Kermit Baker, chief economist for the American Institute of Architects, which performs a quarterly Home Design Trends Survey. One reason is simple: Front porches help create a sense of community, something that more traditional suburbs lack.But something else is driving the interest in front porches, Baker says. Thanks to the recession and the soft housing market, homebuilders have sharply curtailed their construction of big, self-standing communities of hundreds or even thousands of homes. Instead, they're doing more "in-fill," adding dollops of homes here and there among existing homes. Porches can help integrate these homes with the existing community, Baker says.

To read the full article visit: http://realestate.msn.com/article.aspx?cp-documentid=26685367

Please call or e-mail Melissa for any of your real estate needs at (509) 879-7858 or melissadailey@comcast.net!!

Seven Costly Mistakes Sellers Make

There are always appropriate steps to investing in real estate and hopefully, you've garnered many of them right on these pages. However, there are also inappropriate steps sellers can walk down when it comes time to put their house on the market.....

The seven costly mistakes

Mistake 1: Putting the home on the market before it's ready. Most times this happens because the seller gets impatient or is a procrastinator and has pushed himself up against a moving deadline without getting the pre-sale work done. So it comes on the market with the horrible carpet (that gets replaced during the marketing of the home); or they are painting it while it goes on the market. Presentation is everything -- so get the work done before marketing the property.

Mistake 2: Over improving the home for the neighborhood. This happens with additions, bump outs, and upgrades that make the home stick out from among its competitors so much that it's an anomaly, instead of a nice addition to the community.

Mistake 3: Pricing the home based on what the seller wants to net. This pricing strategy always ends in failure. Sellers can control the "asking" price, but they don't control the "sales" price. The market does. It doesn't matter what the seller wants, the price is determined by the black-and-white, matter-of-fact reality of the market


To see the full article visit:

http://www.realtor.com/home-finance/real-estate/sellers/avoid-costly-home-selling-mistakes.aspx?source=web

Great Valley 4-Level Home on Treed Corner Lot!

12923 E. 26th Ave.
$225,000
2266 sq.ft./ 4Bdrms/2Bas
Location! Great corner treed lot with in-ground pool & large deck & patio!! Recently updated with newer roof, Gas F/A, Central A/C, new carpet throughout & tile floors in kitchen & baths. 2 car gar plus R/V or boat parking. Fully fenced low maintenance yard with lots of privacy! Living room has wood fireplace and a wall of windows overlooking pool. Trendy paint & faux finishes. Large bedrooms - Come See!
Call or e-mail Melissa for a showing or any questions at (509) 879-7858 or melissadailey@comcast.net

Beautiful Ponderosa Home w/ Unique Floor Plan!

3426 S. Sundown

$219,900

4bd/4ba/2 car garage
Country kitchen, vaulted living room with see through fireplace to large dining rm withdoors to patio & large treed level backyard. 3 main flr bdrms. Nicely updated tiled bathrooms. Fully fin bsmt with 4th bdrm & huge rec room with woodfireplace. 92% eff gas FA, newer roof, extra deep garage for shop space or rec. vehicles.

Call or e-mail Melissa for a private showing or questions at (509) 879-7858 or melissadailey@comcast.net

Amazing Panoramic Views in This Beautifully Updated Ponderosa Rancher

11418 E. 48th Ave.
$249,900

4-Bedrooms 3-Bathrooms 2-Car Garage

New Alder/Granite Kitchen with tile floors & slate back splash & stainless steel appliances. Newer roof. GFA (95% eff) and updated electrical panel. 3 main floor bedrooms. Dbl sinks main bath. Mstr has walkin plus 3/4 bath and built in shelves. Bamboo floors,wood frplc & lots of light w/vaulted ceilings in lvg rm. Bsmt fully finished w/walk out bsmt & wetbar. Large partially covered rear patio. Too much to list and priced to sell

Virual Tour at: www.tourfactory.com/783462

Nine Tips For Avoiding Mortgage Fraud

From foreclosure fraud to sub-prime shenanigans, mortgage fraud is a growing threat that is hurting homeowners, businesses, and the national economy. Lee Dworshak, a Realtor® with Keller Williams LA Harbor Realty in Rancho Palos Verdes, California takes a look at this dangerous trend and offers nine ways to protect yourself:

Law enforcement agencies are developing new ways to detect and combat mortgage fraud, including collecting and analyzing data to spot emerging trends and patterns, but like many other schemes, it’s hard to track down the bad guys. Even though they are using their full arresnal of investigative techniques to find and stop criminals before the fact, they are usually brought in after the damage has been done.

Read more: Nine Tips For Avoiding Mortgage Fraud | REALTOR.com® Blogs

For the rest of this article go to: http://www.realtor.com/blogs/2011/08/24/nine-tips-for-avoiding-mortgage-fraud/

5 Need to Knows Before Your Move Into the Neighborhood

How to Educate Your Buyers Before They Move to the Neighborhood

For most home buyers, buying a property isn’t just about the house, it’s about the neighborhood. Making a decision about where they want to live is a crucial part of the home buying process. In addition to determining if they are going to buy a three bedroom, two bathroom rancher or a 4 bedroom, 2 bath two story, they also have to buy into the lifestyle. Are there parks near by? Playgrounds? Is there a church they can attend? Is the neighborhood safe? Do houses in the neighborhood hold their value?

These are all important questions your prospective buyers are probably searching for. As the neighborhood expert, you’ll be making sure your buyers understand the ins and outs of the neighborhood they select. Here are three ways to educate your buyers on the neighborhood (with a downloadable tip sheet to give to your homebuyers).

Drive them around

Get your buyers in your car and drive them around the community. We tend to take one entrance into a neighborhood, often the pretty one. Are there multiple entrance points? Most likely yes- make sure they see all access points. Show them the neighborhoods on different days, and at different times of the day. Sure backing up to the main street doesn’t sound noisy on a weekday at 10am, but what about at evening rush hour? Drive the surrounding community. Identify parks, shopping centers and other points of interest that your buyers might care about. Make sure your buyers have an opportunity to get a complete picture of the community.

To read the rest of the article go to: http://pro.truliablog.com/grow-business/5-need-to-knows/?ecampaign=anews&eurl=pro.truliablog.com%2Fgrow-business%2F5-need-to-knows%2F

Real estate: It's time to buy again

Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing.

From his wide-rimmed cowboy hat to his roper boots, Mike Castleman fits moviedom's image of the lanky Texas rancher. On a recent March evening, Castleman is feeding cattle biscuits to his two pet longhorn steers, Big Buddy and Little Buddy, on his 460-acre Bar Ten Creek Ranch in Dripping Springs, a hamlet outside Austin in the Texas Hill Country.

View the full article at: http://finance.fortune.cnn.com/2011/03/28/real-estate-its-time-to-buy-again/

7 Deadly Sins of Overpricing

“We can always go down, but we can’t go up.”

Have you ever heard that from a client? If you have been on many listing appointments, you have probably heard this statement once or twice. When setting the sales price of their home, many sellers are tempted to tack on a few percentage points to “leave room to negotiate”.

Overpricing a home can have many ramifications for a home seller. It can limit the number of potential buyers who can afford your home, reduce showings and create an impression in the marketplace that the homeowners aren’t really serious about selling their home. Serious homeowners who overprice their home often get caught in the trap of price reduction after price reduction trying to catch up to the market.

Read the whole article at: http://pro.truliablog.com/sellers/7-deadly-sins-of-overpricing/?ecampaign=an

Mortgage paperwork mess: Next housing shock?

(CBS News) This story was first published April 3, 2011. It was updated on August 2, 2011.

Home prices have been falling for months, sending us into a second housing shock. Home values are almost down to what they were back in 2002. A key factor bringing down prices - and holding back the recovery - is the huge number of foreclosed houses.

Many of them are stuck on the market for a reason that you wouldn't expect: banks can't find the ownership documents. It's bizarre, but it turns out that Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse.

For the rest of the article go to:

http://www.cbsnews.com/stories/2011/08/07/60minutes/main20086862.shtml?tag=contentMain%3BcbsCarousel

2404 W. Fairview $119,900

Solid 4 bdrm 2 ba close to everything! Large rooms w/ lots of closet space, wood floors on the main. Covered patio perfect for your porch swing. Master bedroom has newer carpet, walk in closet and built in bookshelf. 2 car garage plus RV parking. Corner lot w/park like views. Walkout entry from basement. Minor TLC needed but great location.

Call Melissa for a showing or any questions at (509) 879-7858.

Virtual Tour at:

www.tourfactory.com/773641

Newly Updated 2-Story on Corner Lot

2101 W. Dean $79,900

Recently remodeled with fresh paint & new flooring. Corner lot with good curb appeal. Home has main floor master & laundry, large living room & 2 additional bedrooms upstairs. Available with possible lease option or owner financing with a one year balloon payment. CLA for details.

Call Melissa Dailey at(509) 879-7858 for a showing or any questions.

Virtual Tour at:
www.tourfactory.com/773382

Mortage Applications Rose Last Week: MBA

NEW YORK | Wed Aug 3, 2011 7:01am EDT

(Reuters) - Applications for U.S. home mortgages rose last week as interest rates fell, an industry group said on Wednesday.

The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 7.1 percent in the week ended July 29.

The MBA's seasonally adjusted index of refinancing applications rose 7.8 percent, while the gauge of loan requests for home purchases rose 5.1 percent.

View the rest of this article at: http://www.reuters.com/article/2011/08/03/us-usa-economy-mortgages-idUSTRE73C1ZG20110803