Kenmore quarterly magazine Q2 | 2017 by Kenmore Team

Q2 | 2017

KENMORE quarterly

Tri-Cities Summer lovin

HAD ME A BLAST!

K E N M O R E

T E A M ,

LLC

R E SID E N TIAL | PR O P E R T Y MA N A G E ME N T | CO MME R CI A L

KENMORE QUARTERLY QUARTER 2 | 2017

KENMORE TEAM, LLC PHONE: 509.735.1025 EMAIL: sold@kenmoreteam.com WEB: www.kenmoreteam.com ADDRESS: 8927 W. Tucannon Ave., Ste 201 Kennewick, WA 99336

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Kenmore Quarterly 2017 | quarter 2 Here we go again!

Welcome back! Here we go again with the second issue of the Kenmore Quarterly. After a slow and snowy start to the year, the Kenmore Team is off to the races in all divisions. Homes in the Residential and Property Management Divisions are being purchased, sold, and rented as they hit the market and the commercial market isn’t far behind! Read on for the full quarter’s statistics. This quarter’s features include a little edible advice for summer sips and mouthwatering sticks on the grill, a peek into a home that the Kenmore Team represented, some tips and tricks in the buying and selling department, and a whole lot of outdoor Tri-Cities summer fun! Cheers! Kenmore Team, LLC

Magazine contributions

•

Karen Kenmore: Operations director

•

Jordan De Groot: Magazine graphic designer and photographer - Kenmore Team marketing and photo specialist

•

Carrie Hay: Writer and copy editor

•

Sarah Machiela: Summer Sips and Sticks

•

Chris Cowgill: Introduced us to one of her Clients, the Bronson family, for the ‘At home with’ feature

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Contents

3 Welcome 4 Featured: On the Grill 8 Featured: At home with 12 Residential Division

14 Statistics 15 What your friends are saying 16 Active listings

22 FLIPPED! 26 Featured: national property inspection 30 32

Buyer’s corner: Uncovering potential problems when buying Seller’s corner: Handling multiple offers

34 Featured: get outside! 38 Property Management Division 40 41

Investing in Real Estate Statistics and active listings

42 Featured: Total energy management 46 Commercial Division 48 50

Commercial Statistics Active listings

54 Directory

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SUMMER STICKS AND SIPS GRILL WITH THE COLORS OF SUMMER RED: CHERRY TOMATOES, RED PEPPERS ORANGE: ORANGE PEPPERS YELLOW: PINEAPPLE, YELLOW PEPPERS, YELLOW ZUCCHINI GREEN: GREEN ZUCCHINI, GREEN PEPPERS, AVOCADO PURPLE: RED ONION ADD IN THE MEAT OF YOUR CHOICE OR THROW THE GRILLED VEGGIES ON A SALAD!

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SUMMER SIPS vodka lemonade

classic sangria

Lemon slices Fresh mint 6 oz Lemonade 2 oz Vodka

f r e s h s t r aw b e r ry m a r g a r i ta

Fresh lime Fresh strawberries 2 oz Lime juice 2.5 oz Simple syrup 2 oz Grand marnier 1.5 oz Tequila Sugar or salt rim 6

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1 orange, cut into 1/4-inch slices 1 lime, thinly sliced crosswise 1 Apple, cut into 1-inch pieces 1 cup green grapes, halved 1/4 cup brandy 1 bottle dry red wine 4 cups chilled lemon-lime soda THE LONGER THE FRUITS AND WINE GET TO KNOW EACH OTHER THE BETTER.

old fashioned

moscow mule

Copper mug Lime wedge 2 oz Vodka .5 oz Lime juice 4 oz Ginger beer

Orange slice Maraschino cherry Sugar cube (can substitute simple syrup) 2 oz Bourbon or whiskey 2 dashes Angostura bitters Can add club soda or water k e n m o r e q u a r t e r ly

f e at u r e s

at home with The Bronsons

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Kenmore Team Buyer specialist chris cowgill worked with the bronsons to find their new home!

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RESIDENTIAL division

| Q2 2017

residential listing

1308 WESTGATE WAY RICHLAND, WASHINGTON more on page

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2017 quarter two

Residential statistics 2017 | quarter 2

APRIL

2017 | quarter 2

MAY

2017 | quarter 2

JUNE

Quarter 2

ACTIVE LISTINGS

476

492

575

514

LISTINGS SOLD

335

343

409

362

AVERAGE SOLD PRICE

$265,473

$262,031

$270,382

$265,962

LISTINGS UNDER CONTRACT

355

447

396

399

AVERAGE DAYS ON THE MARKET

averages

quarter 2 sales by price breakdown

APRIL may JUNE

2017 | quarter 2

$00,000 - $99,999

4% of the market

$100,000 - $149,999

9% of the market

5% of the market

$150,000 - $199,999

20% of the market

15% of the market

17% of the market

$200,000 - $249,999

21% of the market

23% of the market

21% of the market

$250,000 - $299,999

16% of the market

18% of the market

$300,000 - $349,999

10% of the market

13% of the market

$350,000 - $399,999

5% of the market

7% of the market

10% of the market

$400,000 - $449,999

8% of the market

6% of the market

8% of the market

$450,000 - $499,999

14 Home sold

5 Homes sold

10 Homes sold

$500,000 +

11 Homes sold

9 Homes sold

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2017 quarter two

what your friends are saying Buyer’s Agent: Jeremy Asmus

Buyer’s Agent: Sarah Machiela

“We would highly recommend the Kenmore Team. Jeremy was great in helping is us find the right place. He was quick to respond to email as well as text. Honest, friendly, and even came in later one night to help us make an offer on a home we really wanted. Holly was also great in helping with all the paperwork, following up with appraisal conditions, and answering any questions we threw her way. Now we are working with RJ who is going to help us with lease agreements and possibly even property management in the future. Kenmore Team really is a one stop shop. We loved them and would recommend them to anyone looking to buy, sell, or rent a home.” Geoff & Danielle Mitchell

“Sarah and Holly were great to work with as we purchased our Richland home. We were living on the other side of the state at the time and Holly kept us to date on every detail. Even when nothing was happening she would check in to be sure we didn’t need anything.” Denise J.

Buyer’s Agent: Cindy patrick “Our Realtor, Cindy Patrick, showed us multiple listings and when we decided to build she helped us find a great builder. The whole Kenmore team was there for us, answering questions and checking on the build for us as we were doing this build long distance. Cindy is very knowledgeable about the whole Tri-Cities area- knows about the schools, shopping etc. I would recommend Cindy as your Realtor if moving to the Tri-Cities.” William & Corinne Kaiser

Buyer’s Agent: Jessica Hollandsworth “The Kenmore team went above and beyond expectations. They walked us through every step and answered every question we could possible come up with... and we had a lot! Cannot say enough great things about Jessica, Holly, and the Kenmore team!” - Kramer & Casandra Poffenberger

A team of specialists who provide superior service, attention, and most importantly, results.

Buyer’s Agent: Chris Cowgill “We sold our house with the Kenmore Team and had multiple offers at the end of the first day. We also used their buying agent Chris to help us with the process of building our new home. She was amazing with any problem we had she got it taken care of immediately. She was there for us night and day whenever we had questions or concerns. I will never buy or build a house again without this team because they are amazing!!!” -Lauryn Sanchez

Listing Agent: Alex Burden “The Kenmore Team was very easy to work with and sold our house at full price in 8 days. We will use them again. Alex and Holly were both great and answered all of the questions we had during the selling process.” - Mitch Rausch

Listing Agent: kellen adcock “I live out of town and had to sell my father’s house after he passed. Kellen and Kim were great working with me. After finding out we had bad piping they kept it going and got it sold. I would use them every-time.” -Derrick Ellis

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4002 S Irby Street, Kennewick $399,900 | 2,742 sqft | MLS # 222006 | 5 bed | 3 bath Beautiful Canyon Lakes four bedroom, three bath, plus bonus room home with Canyon Lakes Park in your backyard. Formal living with fireplace and formal dining room. Bright kitchen features butcher block top island, stainless steel appliances, tile floors and back splash, lots of cabinet space, and second dining area. Gorgeous laminate wood floors. Master suite on upperlevel with walk-in closet and private bath complete with dual sinks, soaking tub, and separate shower. Bonus room could be possible fifth bedroom. Private, fully-fenced backyard with pergola covered patio, mature landscaping, inviting in ground pool, and hot tub. Backyard gate opens up to Canyon Lakes Park and walking trail.

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1308 Westgate Way, Richland $689,900 | 4,156 sqft | MLS # 222314 | 4 bed | 4 bath | 1 Story WESTCLIFFE RAMBLER Welcome home to comfortable luxury in this 4 BR 4 BA + an office AND media room Westcliffe rambler with exceptional views of city, farmlands, and river during the day and amazing city lights at night. Courtyard entrance with double door entry invites you into this home where your eyes will be immediately drawn to the incredible view from the expansive, open-concept family room with gas fireplace. Formal living room with French doors to executive office. Powder room. Gorgeous formal dining room (or perfect place for that grand piano?) Family room is open to gourmet kitchen with raised breakfast bar, casual dining area (with door to huge, covered entertainer’s patio), granite counter tops, full tile back splash, island with prep sink, ample cabinetry, walkin pantry, and stainless steel appliances including: Thermador 5-burner gas cook top, commercial hood, built-in double ovens, brand new Viking drawer microwave, and French door refrigerator. Step into the huge master suite with commanding views into backyard and far beyond. Master suite also offers door to private patio and one-of-a-kind, luxurious master bath featuring travertine and limestone, double sinks, large walk-in closet, jetted spa tub and huge, walk-in open shower with double spouts (no cleaning glass after every shower). Don’t miss the media room with hi-def projection TV and 8’x5’ screen. Mudroom with large closet and laundry room with long granite counter tops, cabinetry, and sink. Split-bedroom design for maximum privacy. Guest suite with private bathroom. Third and fourth bedrooms have Jack-and-Jill bath with double sinks. Wrought-iron fenced backyard was pushed out with boulder retaining wall and offers professional landscaping, winding paver walkways and patio with lighting. Other amenities include: soft-close cabinetry and drawers, plantation shutters, custom blinds, 2 HVAC systems, plumbed for central vacuum, and oversize 3-car garage including tons of cabinetry. Desirable South Richland location with easy access to amenities and recreation. Truly a one-of-a-kind, must see home. 18

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3012 Bosch Court, Pasco $599,900 | 4,167 sqft | MLS # 221768 | 4 bed | 4 bath | .79 Acres Stunning luxury estate offering 4 BR 4 BA + an office on .79 of an acre with shop on quiet West Pasco cul-de-sac. Gorgeous courtyard patio and one-of-a-kind wood entry door invite you into this home built for entertaining. Great room with 16-foot ceilings and gas fireplace opens to luxury kitchen boasting bar with wine chiller, huge island with breakfast bar and prep sink, granite counters, professional grade appliances, and huge walk-in pantry. Large formal dining room. Slab granite counters and tile flooring throughout. Romantic master suite with French doors to lanai and dual-sided fireplace into luxurious master bath with his-and-her closets, jacuzzi tub, dual sinks, and walk-in shower with dual heads. Second master suite. Secondary bedrooms with jack-and-jill bath. Large laundry/utility room complete with dog shower. Huge covered lanai for premium outdoor entertaining and relaxing. Attached three-car garage PLUS detached two-bay shop with 12-foot doors and 16-foot ceilings. ICF energy efficient construction. Quiet neighborhood with easy access to amenities--donâ&#x20AC;&#x2122;t miss out on this one-of-a-kind estate. k e n m o r e q u a r t e r ly

323 Shaw Street, Richland $485,000 | 4,229 sqft | MLS # 222390 | 4 bed | 4 bath | .28 Acres Plenty of space for everyone with great layout for entertaining in this 4 BR 4 BA + an office home in desirable North Richland location. Easy distance to Leslie Groves Park and schools. Main-level features tile flooring through entry and kitchen and bamboo floors in living areas. Formal living room and dining room with lots of natural light and 12-foot ceilings. Spacious kitchen features large island with breakfast bar, tile counters, downdraft cook top, built-in oven, pantry, and second dining area. Kitchen opens to family room with fireplace and built-in shelving. Laundry room, half bath, and office all on main-level. Large master on upper level with oversize master bath featuring tile galore, dual sinks, jetted tub, walk-in shower with dual heads, and walk-in closet. Lots of flex space in basement with 28x13 family room/flex space with second fireplace and another 23x15 bonus room. Full bath in basement. New deck overlooking beautifully landscaped, fully-fenced yard with relaxing fire pit area, mature landscaping, and covered patio on lower-level. New appliances, new heat pump, and new carpet on upper level. Donâ&#x20AC;&#x2122;t miss out on this beautiful home walking distance to river, parks, and recreation. 20

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8111 Snoqualmie Drive, Pasco $269,900 | 1,904 sqft | MLS # 222463 | 3 bed | 2 bath | .31 Acres. Well-maintained, former model home Well-maintained, former Model Home with 3 BR 2 BA + an office rambler in perfect West Pasco location. Open concept with formal dining room and large living room with gas fireplace and built-ins open to spacious kitchen offering large island, breakfast bar, and ample storage. Tile counter tops and hickory cabinets throughout. Split-bedroom design has large master bedroom with private bathroom including dual sink vanity, soaking tub, separate shower, and walk-in closet. French doors to den/office off great room. 10 Foot Ceilings in all rooms, plus vaulted ceilings in main living area. Slider to open patio and large, fully-fenced backyard, with no back neighbors. Upgraded Hardie Board Siding on Exterior. Quiet neighborhood close to schools and amenities

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FLIPPED BREATHING NEW LIFE INTO AN OLD HOME

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GUEST BATH

SPLIT ENTRY

MASTER BATH SHOWER DETAIL

DREAM KITCHEN

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BEDROOMS

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B u s i n e s s f e at u r e

National property Inspection Tri-Cities

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Business feature

NPI Tri-Cities Features

Buying real estate can be a stressful experience for all parties involved. Knowing that the components of the commercial or residential property you are purchasing have been thoroughly inspected, to meet specific standards by a trained and certified inspector, can bring some peace of mind to the buyer. National Property Inspections is one of our local property inspectors providing this essential service to Tri-City area residents for almost 15 years. Ron Schenck spends long hours each weekday climbing on roofs and in crawl spaces to assess and test all the important areas to provide a valuable state of the property. Whether it is a personal residence or a commercial building, NPI can inspect all major exterior and interior components including HVAC, electrical, plumbing, foundation, and roof, as well as specialty concerns such as radon, termites, well flow, water, mold and more. Each basic inspection takes two to three hours. As Ron works his way through a property, he takes pictures and enters his findings into his proprietary NPI software on his laptop â&#x20AC;&#x201C; making sure everything he finds is well documented on the spot. He even has an app on his phone that checks for recalls and other information on appliances, water heaters, and HVAC components.

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For the first eight years Ron owned his local NPI franchise, he not only personally performed all the inspections, he also did all of his own scheduling, bookkeeping, and other required paperwork. Now his wife Terri runs the office and schedules all of the work for the guys. The business grew, and in order to meet his own goals of providing excellent customer service and on-time scheduling, Ron had to add staffing. The support of being affiliated 28

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with a national company has also helped his business thrive. NPI offers excellent training as well as ongoing support. Michael Taylor joined the company in 2016 and has allowed Ron to increase his availability to help meet the demand of the growing Tri-Cities real estate market. Michael is also a certified inspector and works alongside Ron or on his own depending on the schedule or job. Prior to jumping into the real estate inspection

business, Ron had experience working for a local contractor putting in the infrastructure for construction projects. After 10 years he decided to try something new and started part time in home inspections. In 2003, he moved to full time and has been providing exceptional services for buyers from the Kenmore Team and many other area firms. Despite being affiliated with a large company operating throughout the United States since 1987,

Ron is a small local business with extensive life-long ties to the community. He takes great pride in his work and helping his customers know exactly what condition their prospective property is in. -Article by Carrie Hay

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BUYERâ&#x20AC;&#x2122;S CORNER UNCOVERING POTENTIAL PROBLEMS WHEN BUYING It is easy to get caught up in the emotional aspect of buying a home. Here are a few things we have learned over the years to help uncover potential problems. 1. Pay attention to curb appeal and cleanliness. It is pretty rare that a seller will drastically change their habits when they go to sell. If the lawn and trim are maintained and in good shape, it is likely that other systems in the home were also maintained. If this is not the case, pay closer attention to other hidden defects that could pop up. 2. Visit the property more than once. Visit more than once and at different times of the day once you have decided to put an offer in. Visiting a house at 10 in the morning might not reveal heavy traffic at five in the evening. 3. Water can be a serious issue to the health of homes. Always check for standing water on the property or in the crawlspace. The standing water could be a simple fix like a sprinkler adjustment, or a more substantial issue like shallow groundwater. 4. Electrical Items. If there are open junction boxes or multiple extension cords, this can be an indication of poor electrical placement or overuse of particular circuits. Electrical work can get expensive in a hurry. All of the tips mentioned above are just indicators to help you get started on making a decision about a property. Once you have decided on a property, have a HOME INSPECTION BY A LICENSED INSPECTOR. If you are going to spend hundreds of thousands of dollars, ensure that your investment is well protected.

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SELLER’S CORNER HANDLING MULTIPE OFFERS The second quarter of 2017 in the Tri-Cities may have brought the most occurrences of multiple offers we have ever seen. Many sellers in our area, and even agents for that matter, were not prepared for the many different scenarios that can play out with multiple offers for sellers. Traditionally sellers and agents have operated under an old practice called “highest and best.” This is where all parties who have offered on a property have a certain time limit to resubmit their highest and best offer. On the surface it seems like this might be the best strategy, but it can have pitfalls. We have seen instances like this when there were three offers on the table, and then when highest and best was issued as the way to handle an offer ALL THREE OFFERS went away because they did not want to bid up the property. This is not always the case but it is a risk. Sellers have a multitude of options available to them: 1. Sellers could counter just one of the multiple offers 2. Sellers could disclose the terms of one offer to another offer and try to get the second offer higher 3. Sellers could remove escalation addendum and counter higher than the max of the escalation addendum 4. Sellers could institute a waiting period to collect all offers and then review at a deadline This is just a small list of the different strategies that many sellers do not know about or consider. It is a complicated process that balances a complex act of negotiating. Make sure you are working with an experienced agent who has handled numerous occurrences of multiple offers to get you the best offer. In many instances, there are terms like cash vs financing that don’t always make the highest offer the best offer. You are also considering the ability to close on time, convenience and anticipated problems.

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THE TRI-CITIES IS AN OASIS OF NATURAL BEAUTY AND ACTIVITY. A desert complete with flat and mountainous terrain for hiking, biking, and riding. The mighty Columbia, Snake, and Yakima rivers offer boating, paddle-boarding, kayaking, floating, and other great water sports. Splash parks, summer sporting leagues, fresh local produce at one of the many farmers markets, and more wineries than you can hit in a summer.

GET OUTSIDE! TRI-CITIES SUMMER ADVENTURES

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HORSEBACK RIDING Red Mountain Trails, LLC WATER RENTALS AND ADVENTURES Columbia Kayak Adventures Greenies Northwest Paddleboarding SPLASH PARKS Badger Mountain Community Park Columbia Park Highlands Grange Park Pasco Sporting Complex Southridge Splash Park Underwood Park WHAT ELSE CAN YOU DO?

Boasting upwards of 300 sunny days, the Tri-Cities has no shortage of outdoor activity including hiking, biking, bowling, hunting, golfing, water-sports, sports of all kinds, and 27 well maintained parks. Entertainment also includes three professional sporting teams and a strong Arts culture. Historical attractions include the Hanford Reach National Monument, and B Reactor National Historic Landmark. Due to the excellent climate and sandy soil, the Tri-Cities is also located in the heart of Washingtonâ&#x20AC;&#x2122;s Wine country. With over 200 wineries in a 50-mile radius, you are sure to find one or two or fifteen local wines that you will love!

TRI-CITIES FARMERS MARKETS TUESDAY dâ&#x20AC;&#x2122;s Wicked Cider; 4pm WEDNESDAY Pasco Market; June-August 8 am-12 pm THURSDAY Downtown Kennewick Market; June 1-October 12 4 pm-7 pm FRIDAY Market at the Parkway in Richland; June 2-October 27 9 am-1 pm SATURDAY Pasco Farmers Market; May 6-October 28 8 am-12pm SATURDAY Fresh Picks Market at the TRAC in Pasco; June-October 8 am-1 pm SUNDAY 3 Eyed Fish Farmers Market at the Queensgate Village; June 11 10 am-2pm

TRI-CITIES SUMMER CALENDAR JULY July 7-9 July 13-15 July 15 July 22-23 July 28-29 July 28-30

See3Slam - John Dam Plaza George Washington Way, Richland Creation Festival Northwest - Benton County Fairgrounds, Kennewick Horse Heaven Hills Wine Growers Trail Drive - Alderdale to Paterson Hooptastic 3-on-3 - Southridge Sports and Event Complex, Kennewick Art in the park - Howard Amon Park, Richland Hapo Columbia Cup & Over the River Airshow, Kennewick and Pasco

AUGUST Aug 22-26

Benton Franklin Fair & Rodeo, Fairgrounds, Kennewick

SEPTEMBER Sept 1-3 Sept 1-3 Sept 9 Sept 15-16 Sept 23 Sept 23-24

International Bigfoot Conference, Three Rivers Convention Center, Kennewick Tumbleweed Music Festival, Howard Amon Park, Richland Fiery Food Festival, downtown Pasco Sausage Fest, Christ the King Church, Richland Carousel Anniversary, Gesa Carousel of Dreams, Kennewick Ye Merrie Greenwood Renaissance Faire, Columbia Park, Kennewick

For more great events check out the www.visittri-cities.com website or Facebook page!

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HIT THE TRAILS! TRI-CITIES RIVERFRONT TRAILS Sacagawea Heritage Trail Richland Riverfront Trail Lewis and Clark Westbound Journey Lewis and Clark Eastbound Journey TRI-CITIES HIKES Badger Mountain Candy Mountain

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PROPERTY MANAGEMENT division

| Q2 2017

property management listing

520 MEADOW HILLS DRIVE RICHLAND

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Property management

Investing in real estate Investing in real estate is an excellent way to increase • Neighborhood: The quality of the neighborhood your income and build your nest egg. It may not be as in which you buy will influence both the amount scary as you think. You don’t need to have hundreds of rent you can charge and how often you face of thousands of dollars set aside, or wait until you’re vacancies. closer to retirement to get started. There are many ways • Schools: The quality and rankings of schools to invest in real estate. Some investment types, like can impact where renters live. Once you’ve wholesaling and flipping, require more time and more narrowed down the money. The drawback neighborhoods, do some to these is that once research on the schools you stop working, that home is assigned your income stream to. This may affect your dries up. But investing P r o p e r t y M a n a g e m e n t s t a t i s t i c s rental rates and your in residential rental sales price on down the properties can bring you line. a continuous cash flow while also building equity • Crime: No one wants MANAGED UNITS: 96 for the long haul. to live next door to a hot spot for criminal When you own the MANAGED DOORS: 167 activity. Go to the local rental properties, your police for accurate crime net worth will increase statistics for various because you are paying AVERAGE APPLICANTS: 3.39 (per property) neighborhoods. off mortgages, and rents will go up over time. • Property Taxes: Be AVERAGE DAYS VACANT: 18 DAYS There are also great tax aware of how much your advantages, your money property taxes will cost is a little more guarded AVERAGE TURN OVER: 2 YEARS you, as they can be a against inflation, you big expense. The local can do this with a high assessor’s office will or low cash investment, have that information and rental homes are available. relatively easy to finance. It is very difficult to predict appreciation, but given • Local Amenities: Check the potential enough time the real estate market has always increased. neighborhood for current or projected parks, shopping, gyms, movie theaters, bus stops, and any Any property you buy also has to make sense from a other perks that attract renters. business perspective, not because it’s a house you want to live in. That means it should be a reasonably priced • Job Market: Locations with growing employment home likely to appeal to the kind of tenants you’re opportunities tend to attract more people – looking for. Here are some of the top things to consider meaning more tenants. To find out how a particular when selecting your investment property. These items area rates, go directly to the U.S. Bureau of Labor are important not only while you own the property, but Statistics. when you are ready to sell. 40

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• Development: The municipal planning department will have information on all the new development that is coming or has been zoned into the area. Growth is good but watch out for a glut of new rental units in the area. • Vacancies or Listings: Similar to development, make sure there’s not an abundance of vacant rentals or homes for sale in the area you’re searching. This could be a sign of it being a less than desirable area. • Rental Rates: Rental income will be the bread and butter of your rental property, so you need to know the average rents in the area. If this average rent is not going to be enough to cover your mortgage payment, taxes and other expenses, then you have to keep looking. There are several ways to purchase your first real estate investment. You can purchase it outright with cash if you have the funds available. But most people don’t. Especially when they are in their 20s or 30s. The more common option is to take out a mortgage against a property. The use of leverage is what attracts many real estate investors because it lets them acquire properties they otherwise could not afford. Remember that while lending requirements have relaxed a little in recent years, rental property lending requirements have largely remained the same. You need at least 20% down to secure traditional financing for them. If you can put down 25%, you may qualify for an even better interest rate. And if it’s your first rental property, your current income is going to have to be enough to handle the mortgages for both your residence and your new property. Before you buy rental property, you should remember that it does have risks and expenses you definitely need to plan for. You will have recurring expenses such as annual property taxes, insurance, routine maintenance and repair items, and the cost of any property management services. Don’t forget to set aside funds for major unplanned expenses such as replacing the water heater, air conditioner or heater, roof, fencing, flooring or plumbing. Your property could sit vacant for periods of time between renters or you could incur legal expenses should you be forced to evict a bad tenant. Finding and keeping good tenants is the heart of successfully investing long-term in real estate. A qualified property management firm will help reduce risks, as they have the experience necessary to find high quality tenants. Quality tenants will also keep your costs down and your home in better condition. Kenmore Team Property Management can help with the process. From marketing, to tenant screening, to maintenance, we take the hassle out of your investment leaving you with more free time to do the things you love.

Ava i l a b l e / u p c o m i n g r e n ta l properties

303 Gage Blvd #323, Richland 1 Bed/1 Bath | 704 SQFT | $1,000 | Available

4410 Campolina Ln., Pasco 4 Bed/2.5 Bath | 2,707 SQFT | $1,795 | Available

5988 Beechwood, West Richland 4 Bed/2 Bath | 2,046 SQFT | $1,895 | Available

520 Meadow Hills Dr., Richland 3 Bed/2 Bath | 2,300 SQFT | $2,100 | Pending

VISIT THE KENMORE TEAM PROPERTY MANAGEMENT WEBSITE TO SEE ALL LISTINGS AND AVAILABILITY www.kenmoreteampropertymanagement.com

-Article by Carrie Hay

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Business feature

total energy management Features

The white trucks with the distinctive yellow sun logo have been part of the Tri-Cities landscape for over 30 years. These vehicles are part of the Total Energy Management fleet providing a wide variety of HVAC and electrical services to people and businesses throughout the region. Despite their humble beginnings, TEM is an expansive company that can service an existing residential heating or cooling device, design, build and install a custom HVAC system for a new commercial project, and even design and fabricate customized process controls. The DeWittâ&#x20AC;&#x2122;s family business was born in 1984 and is still owned and operated today by brothers Aaron and Brad. Both young men pursued education and training in the electrical field but didnâ&#x20AC;&#x2122;t necessarily plan on working in the family business in their hometown. Aaron completed his electrical engineering degree at WSU in 1991, but spent two and a half years working for others before realizing that he loved a more handson approach to engineering and building. When he returned to TEM in 1994, they had just seven employees, including their office secretary. Their dad started removing himself from the company in 1998. Today the company employs about 90 people, depending on the work load. Staffing based on work load and availability of trained workers is one of the biggest challenges the DeWittâ&#x20AC;&#x2122;s face.

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B u s i n e s s f e at u r e

total energy management

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Aaron also notes that the industry competition in our area is surprising and another hurdle for the business. While there used to be only 12 to 15 contractors in the field, there are now over 40 in the Tri-Cities region alone. Most of TEMâ&#x20AC;&#x2122;s work remains in the Tri-Cities, but they have also taken on jobs across the northwest to keep their employees working. Competition isnâ&#x20AC;&#x2122;t always a bad thing. In fact, DeWitt thinks the competition has made them better. Total Energy Managementâ&#x20AC;&#x2122;s mission is to exceed consumer and client expectations and needs by utilizing innovative thinking and problem solving techniques. TEM continues to innovate to be more cost effective too. Commodity prices constantly 44

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fluctuate, making it difficult to control costs. But automation helps alleviate some of that instability. Their new 24,000 square foot fabrication shop opened this spring to house some of this new technology, including an automated plasma cutting machine and large rollers that spit out just the right size and gauge of metal with the push of a button. In October of 2016, they moved to their new office space. They now have a dedicated space for everyone including their growing Industrial Controls Division. DeWitt says they are still in the process of adding custom automated equipment that allows them to build HVAC pieces as needed and not spending two weeks building, storing in a trailer for a few months, and then re-sorting and hauling to a new project.

But intelligent and skilled people trained in the trade are still the driving force behind maintaining a solid business. â&#x20AC;&#x153;The trades are depleted these days,â&#x20AC;? says DeWitt when discussing their staffing. He hopes that the current downward trend of young trades people switches, and more young people realize the opportunities that are available when pursuing a technical trade career. TEM prides itself on promoting from within. Almost all of their upper management have been with the company for many years and worked their way up through the ranks from a labor position - demonstrating that it is possible to earn management positions with hard work and dedication. People and community are important for this

Richland company. Their loyalty to their employees and the local residents is evident in every facet of their business. TEMâ&#x20AC;&#x2122;s community involvement includes sponsoring families in need during the Christmas season, participating in employee food drives for the food bank and sponsoring many different local youth sports teams. They even formed their own 501(c)3 that originally held an annual TEM Softball Bash for Cancer fundraiser for ten years in a row. Today they continue to partner with various local charities to support a variety of needs including Wishing Star and Modern Living Services. -Article by Carrie Hay k e n m o r e q u a r t e r ly

COMMERCIAL division

| Q2 2017

commercial listing

5804 ROAD 90 PASCO beautiful new construction on road

west pasco . additional spaces and pad sites coming soon .

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Commercial Division

quarterly statistics AVERAGE DAYS ON THE MARKET: 245 AVERAGE SALE PRICE: $1,183,124 CURRENT PROPERTIES FOR LEASE: 206 CURRENT SBA 504 FIXED: 20-YEAR 4.6% | 10-YEAR 4.51% CURRENT PROPERTIES FOR SALE: 72

Notable transactions VITRUVIUS DEVELOPMENT GROUP PASCO AHBL, INC. 5804 ROAD 90, STE H PASCO TERRY & RANDY VOJTA 1102 E “A” ST. PASCO ACHUCK FAMILY PARTNERSHIP RICHLAND ALIVE COLON HYDROTHERAPY 925 STEVENS DR, STE 1D RICHLAND SMITH COVE PARTNERSHIP KENNEWICK PROVIDENCE BAPTIST CHURCH 3180 W CLEARWATER AVE, STE H2 KENNEWICK PJC SPORTS, LLC 3180 W CLEARWATER AVE, STE R & S COUNTRY FINANCIAL JASON DUFAULT, RYAN WINGFIELD, ALBERT MORENO, JR. 1446 SPAULDING, STE 302 RICHLAND LIBERTY LAWN AND SAW SHOP WEST RICHLAND GALE REW CONSTRUCTION 1881 TERMINAL DRIVE RICHLAND

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commercial listing

9403 AND 9501 W 10TH AVENUE KENNEWICK Hard to find, well located land in the city of Kennewick near Steptoe and the new Bob Olson Parkway with easy connections to major roads. Two parcels included. Land is zoned for light industrial.

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sale

1950 Keene road, building Q, Richland $549,500 | 2,149 sqft | MLS # 222034 Established retail investment property in excellent location in South Richland. Prime front row and corner location in the Queensgate Village. Great exposure from Keene with easy access to Queensgate. Large parking lot and large well placed sign-age on the road and building. Approximately two and a half years left on existing lease so great investment and long term possibility for owner/user.

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sale

3180 W Clearwater Avenue, Kennewick $4,300,000 | 42,402 sqft | MLS # 218444 Retail/office mall in great Kennewick location off of Clearwater with easy access to Highway 395. Well maintained stucco exterior and recently re-done parking lot with ample room. Stable occupancy and steady performance. Large sign on Clearwater as well as signage on each suite. Anchored by health clinic with long term lease.

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lease

925 Stevens Drive, richland $14.50/SQFT | STE 2E - 2,000 SQFT; STE 3D - 1,530 SQFT; STE 3E - 650 SQFT; STE 1A - 1,565 SQFT; STE 1E - 910 SQFT Medical office building off of Stevens Drive in Richland with easy access to nearby Kadlec Hospital. Several suites available that are nicely finished with a variety of office and patient spaces. Suites can easily be transitioned into office space or left as medical offices. Large central lobby area with public restrooms and elevators. Great parking, good sign placement, and traffic count. 52

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lease

PHOTOS BY SCOTT BUTNER PHOTOGRAPHY

450 Williams boulevard, STE A, Richland $21/SQFT | 609 sqft | MLS # 222399 Richland suite off of Williams, with easy accesss to both Jadwin Avenue and Goethals Drive. The space is suitable for office, retail, or medical. Suite boasts an open floor plan with restroom a nd kitchenette. High traffic intersection, lots of parking, and close proximitely to Hapo and Kadlec.

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Residential division Lance Kenmore designated broker REALTOR® Cell: (509) 727-8977 Office: (509) 735-1025 Lance@KenmoreTeam.com

Karen Kenmore operations director