S P E C I A L P U L LO U T S E C T I O N
S U N D AY, A P R I L 2 9 , 2 0 1 8
8TH ANNUAL
APRIL 28-29
SPOKESMAN-REVIEW ILLUSTRATION
Sponsored by:
Spokane Realtors®
OPEN HOUSE Event This Weekend | April 28 & 29 Proudly Presented by:
Hundreds of Open Houses all over Spokane!
Visit participating open houses Register for the prizes (one entry per person, per house) $500 Visa Gift Card Sponsored by
$1,000 Visa Gift Card Sponsored by
Winner announced Wednesday, May 2nd, 2018 All participating open houses listed on Winner responsible for taxes; must be at least 21 years old to enter. Complete rules available at the Spokane Association of Realtors®
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THE SPOKESMAN-REVIEW
APRIL 28, 2018
OPEN HOUSE WEEKEND
The original radiator at the Huntington home.
A brass eagle on the front door greets visitors.
Interest grows in historic homes Making the leap to ownership brings challenges, gratification By Amy Edelen THE SPOKESMAN-REVIEW
When Leo and Lucia Huntington began their two-year home search, they knew they wanted a charming home in a convenient location. “We looked at some older homes, and they appealed to us aesthetically,” Lucia Huntington said. “That’s when we started to zero in on what we wanted.” They found a 1912 Craftsman-style home in the architecturally prominent Rockwood neighborhood on Spokane’s South Hill. Over fifteen years, the Huntingtons repaired, renovated and rehabilitated the home’s interior and exterior to align the structure with its original character. They completed work in every room of the home, which included replacing light fixtures, scraping off layers of wallpaper, painting and minor construction PHOTOS BY KATHY PLONKA/THE SPOKESMAN-REVIEW projects to maintain the architectural integrity of the Over the 15 years, Leo and Lucia Huntington rehabilitated their 1912 Craftsman-style home in the Rockwood property. neighborhood on Spokane’s South Hill. The couple also hired However, with the tight “We did that mostly to historic homes vary in age ship. Spokane-based build-de“They typically have a lit- real estate market in Sposign firm KellCraft Design- preserve the neighbor- from retired folks to young tle different floor plan,” she kane, there aren’t a lot of Build-Supply to complete hood,” Lucia Huntington couples with children. said. “It’s a wonderful DeBill, who has sold sev- said of the older homes. these types of opportunities two sizable renovations. Two years ago, their neighborhood, and we are eral historic homes in the “They have a more tra- on the market at the mohome, which had 17 prior part of a wonderful block.” Manito Park area, said ditional set up that works ment, DeBill said. “The South Hill is a prime Yvonne DeBill, a Win- buyers look specifically for real well with children beowners, was nominated for the Spokane Register of His- dermere/Manito associate older homes because of cause of their formal archi- location,” she said. “People bought and maintained broker, said people who buy their charm and workman- tectural design.” toric Places.
homes, but the last couple of years we’ve had low inventory since there aren’t as many older historic homes.” However, along with architectural charm, there can be unexpected issues that accompany ownership of a historic home. “There is going to be things that are going to go wrong,” DeBill said. “You are going to have things pop up that you didn’t expect, and you can’t get just anybody in there to fix the issue because you want to keep the integrity of the home.” DeBill advises buyers to hire a contractor specializing in historic homes if they want to change and update it. Megan Duvall, the city’s historic preservation officer, said there’s a big misconception that once a home is on Spokane’s Register of Historic Places, changes can’t be made to it. Homeowners can change the interior, she said, adding that changing the paint color, landscaping or building a detached garage can usually be handled administratively by submitting a “certificate of appropriateness” form for approval by the city’s historic preservation officer. However, replacement windows, doors or siding See HISTORIC, 11
THE SPOKESMAN-REVIEW
APRIL 28, 2018
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OPEN HOUSE WEEKEND
Hot market calls for aggressive approach The seller has the upper hand, and four other things to know about buying a house in Spokane By Becky Kramer THE SPOKESMAN-REVIEW
Shopping for a house in Spokane has changed in the past couple of years. Home seekers no longer encounter a sleepy, laidback market, where they can choose from multiple homes for sale and spend days mulling their offers. If they find a house they like, they have to move fast. “There is a strong demand for housing and supply is not keeping up with it,” said Rob Higgins, executive vice president of the Spokane Association of Realtors. “Prices are accelerating.” The Spokane-area market is in its seventh year of recovery since the national housing market crash, which sent sales and prices plunging. In 2008, local home sales went into a sharp decline. By the time the market bottomed out in 2011, the number of sales had dropped by more than half from their 2005 peak. “It was unprecedented, what happened,” Higgins said. But now, “we’ve basically gained everything back.” Sales are up. Prices are up. Whether you’re buying or selling a house, or merely an interested observer, here are five things to know about the Spokane area market.
KATHY PLONKA/THE SPOKESMAN-REVIEW
A Greenstone Homes house under construction in Liberty Lake this month. tate is where their wealth is generated,” Higgins said. “When you sit back in your rocking chair someday, you can say, ‘Yeah, I’m glad I bought this house.’ ”
Spokane Association of Realtors. But there may be a larger inventory of homes for sale a bit later. She’s heard from prospective sellers who hoped to have their homes listed in March and April but are running behind It’s competitive. schedule. “Now, we’re looking at Really, it is. If you’re looking at houses May and June,” she said. in the $300,000 or less Increasing prices range, expect competition – lots of it. The Spokane area test first-timers market is following national Compared to much of the trends: As the economy re- West Coast, the Spokane covers, demand for houses area remains an affordable has increased, but inven- place to buy a home. But prices here have risen about tories remain low. “Every market has its own 7 percent in the past year. In March, the median set of dynamics,” said Ken Sax, president of the Spo- sales price for a home or kane Association of Realtors condo in Spokane County and designated broker at was $219,000. A year ago, it Keller Williams Realty. was $204,700. The average sales price was $237,544, “This is a seller’s market.” In March, about 1,000 compared to $220,466 a homes were listed for sale in year ago. Rising prices are stretchSpokane County – about 20 percent less than last year at ing first-time buyers. But sellers are benefiting from this time. “We were hoping there the rapid appreciation, and would be more houses on the so are homeowners who market now,” said Jennifer plan to keep their property Valerien, the owner/broker for a while. “For most middle-inof Re/Max Inland Empire and a board member for the come Americans, real es-
Your offer likely will be one of many Buyers should be prepared for a few disappointments. Attractively priced homes will generate multiple offers. “It’s OK if your offer doesn’t get accepted,” Valerien tells her clients. “You’ll be making more than one.” A Realtor can help figure out what’s motivating the seller, so prospective buyers can make their offer as attractive as possible, she said. Added Sax: “This is not the time to ask for everything under the sun from the seller.” Sellers have the upper hand in the current market. They probably won’t accept a low-ball offer or agree to a long list of sale conditions, he said.
ditions can tempt sellers to get greedy, but inflating the sales price of the house isn’t a good move. “You still need to price realistically for the market,” Valerien said. “Buyers are not going to overpay.” If a seller accepts a $275,000 offer, but the appraisal comes in at $200,000, the buyer can’t get their financing. If you’re the seller, the delay can cost you several weeks of valuable time, Sax said. “You don’t want your listing to age,” he said. “The best time to sell is when the house hits the market.”
market
FOR THE BUYER
Graphics show the Spokane housing market crash and recovery.
Year-end home sales 2005 to 2018 year-to-date
If you’re selling, have a Plan B
10,000
8,000
6,000
4,000
2,000
200,000 CONTACT THE WRITER:
(509)459-5466 beckyk@spokesman.com
con-
FOR THE SELLER
“It’s OK if your offer doesn’t get accepted. You’ll be making more than one.”
150,000
100,000
50,000
“You still need to price realistically for the market. Buyers are not going to overpay.”
0 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17
Source: Spokane Association of Realtors
Jennifer Valerien Owner/broker of Re/Max Inland Empire and a board member for the Spokane Association of Realtors
7 Annual th
Home sales Increase 15.1% 1,276 through March 2018 1,469 through March 2017
Sax encourages sellers to make a plan – and a backup – 0 for living arrangements. Af’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 ’13 ’14 ’15 ’16 ’17 ter the sale, they might need Residential closed sales on less than one acre, including condominiums to rent for a few months while they’re hunting for a Year-end median prices new house. “If you sell your house, 2005 to 2018 year-to-date Median price increase 9.4% you need a plan,” he said. through March 2017 $196,475 “Because now you’ll be a $250,000 through March 2018 $215,000 buyer.”
Buyers aren’t going to pay too much Current
Home sales and prices on the rise in the Spokane area
MOLLY QUINN/THE SPOKESMAN-REVIEW
OPEN HOUSE
28thth & &30 29thth WEEKEND APRIL APRIL 29
NORTH OPEN HOUSES Saturday, April 28, 2018 -2
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$386,000
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3211 W Excell Ave
306 W. Charlton Ave. Beautiful Arrowhead Point 1.5 Story On Cul-De-Sac! 3 Bed/3 Bath, 3 Car Garage. Formal LR w/Gas Fireplace. Master Suite. Huge Backyard w/Patio & 2 Decks. 3702 Total SF of Living Space!
Heather Wilhelm (509)999-2564
$350,000 Beautifully remodeled northside rancher in the desirable Pacific Heights neighborhood.
Steve Ranniger 509-499-0662 sranniger@gmail.com
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$385,000
This SPACIOUS Home has the best panoramic VIEWS in town! You can see the entire City and the Mountains from multiple Rooms. With a total of 550 sq.ft. of covered Decks you will enjoy the Wildlife, BBQ in all seasons, and watch the Fireworks right from Home! Very spacious Rooms, & yet still cozy with a Wood Fireplace, Pellet Stove, Cathedral Ceilings, View Windows, and 2 Dining Rooms for entertaining. Low maintenance, landscaping, & Brick Driveway absorbs Sun helping in the winter elements.
KATIE MCDARIS MARKS 509-499-0045
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$394,900 Beautiful Highlands Custom Built Rancher! This 5 bedroom, 4 bath, 4,600 sqft home sits on .53 acres with 2 masters on the main floor in the Mead School District. katie@exitofspokane.com
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12020 N COUNTRY CLUB DR
KAREN SHAW 509-993-7415
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8321 N. NORTHVIEW CT.
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5802 E ORCHARD RD
1506 W JAY CT
1496 W. JAY
$675,000 Unique equity opportunity set atop desirable Orchard Prairie w/ panoramic views. Beautiful 7,514 square foot, 6 bed, 7 bath home seated on 10 acres with an historical two story barn. MLS# 201813598
$414,300 Welcome to Cedar Place with 5 available new homes..1506 W Jay offers an Incredible quality throughout w/attention to detail. vaulted ceiling, 4br, 2 br, main floor utilities, zero step entry, 36” doors, engineered flooring, stainless steel appliances, full master suite w/tile shower, upgraded cabinets and hard surfaces.
$364,900 Welcome to Cedar Place. Enjoy beautiful new construction. Spacious 3 bed/2 bath w/open great room including natural light w/a traditional design throughout. Kitchen features stainless steel, granite & seating bar at island. Glass shower, gas, f/p, covered back patio w/high end finishes inside & out.
JEREMY THOMAS 509-998-8929
GREEG PATTERSON 509-468-2622
GREGG PATTERSON 509-468-2622
901 N OASIS | DEER PARK $319,000 This home is NOT par for the course! 3358 square feet 4 bed 3 bath. Fully finished basement. Storage galore! Main floor living with a beautiful kitchen and a fully finished basement. Upgraded LED lights throughout. Plenty of room for family and friends here. Hit a hole in one with this home! Lisa.jordan@live.com
LISA JORDAN 509 276 6399
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THE SPOKESMAN-REVIEW
APRIL 28, 2018
Open This Saturday Follow us to the area’s best open houses every Saturday & Sunday! Saturday, April 28, 2018 spokesman.com Open
Property Type
Address
BR
BTH
Price
Company
Agent
Phone
Website
MLS#
NORTH 10-4
New Home
1496 W Jay Ct
3
2
$364,900
Coldwell Banker North
Gregg Patterson 509-468-2622
cbtomlinson.com
201810494
10-4
New Home
1506 W Jay Ct
4
2
$414,300
Coldwell Banker North
Gregg Patterson 509-468-2622
cbtomlinson.com
201813593
12-3
Single Family
3211 W Excell Ave
6
3
$350,000
Coldwell Banker Valley
Steve Ranniger
509-499-0662
cbtomlinson.com
201813552
1-3
Single Family
12020 N Country Club Dr
5
4
$394,900
Exit Real Estate
Katie McDaris
509-499-0045
exitrealty.com
N/A
12-2
Single Family
306 W Charlton
3
3
$386,000
Kestell Co.
Heather Wilhelm-Lukes 509-999-2564
kestell.com
201815119
1-4
Single Family
5802 E Orchard Rd
6
7
$675,000
Professional Realty
Jeremey Thomas 509-998-8929
agent-126306.pages.tourfactory.com 201813598
11-2
Single Family
901 N Oasis
4
3
$319,000
RE Marketplace
Lisa Jordin
509-276-6399
realestatemarketplc.com
201810151
11-3
Single Family
8321 N Northview Ct
3
3
$385,000
Shaw Realty Group
Karen Shaw
509-993-7415
shawrealtygroup.com
201813518
12-3
Single Family
2506 S Grapetree
2
2
$464,900
Coldwell Banker South
Beth Vogt
509-535-7400
cbtomlinson.com
201715348
12-3
Single Family
2510 S Grapetree
3
2
$469,900
Coldwell Banker South
Beth Vogt
509-535-7400
cbtomlinson.com
201723104
2-4
Single Family
2127 E Juul Court
4
3
$294,900
Exit Real Estate
Katie McDaris
509-499-0045
exitrealty.com
N/A
11-5
Single Family
2028 S Oneida Pl
4
3
$675,000
Gayle Terry
Gayle Terry
509-389-2069
GayleTerry.com
N/A
12-4
Single Family
7840 E Gunning
6
5
$615,000
Kestel Co.
Carrie Meyer
509-868-1077
kestell.com
201815351
1-3
Single Family
3314 E 24th
2
1
$175,000
RE/MAX
Jeannette Karis
509-994-8246
remax.com
N/A
2-4
Single Family
3612 W. Rosamond
3
2.5
$375,000
RE/MAX
Bethann Long
509-362-4607
remax.com
201814346
1-3
Single Family
703 W Saxon Drive
4
4
$650,000
Windermere Manito
Nancy Wynia
509-990-2742
Windermere.com
201812948
12-2
Single Family
6211 S Terre Vista St
3
3
$325,000
Windermere Manito
Sam Hess
509-993-0468
Windermere.com
201813650
3-5
Single Family
3615 S Eastgate
5
4
$675,000
Windermere Manito
Marianne Bornhoft 509-879-3779
Windermere.com
11-4
Single Family
22570 E Wellington Pkwy
3
2.5
$341,000
Greenstone
Kristi Green
509-496-0174
greenstonehomes.com
201813310
11-4
Single Family
1910 S Mulligan Ct
3
2
$380,000
Greenstone
Lori Hess
509-992-3370
greenstonehomes.com
201811991
1-3
Single Family
16517 E 24th
4
4
$547,900
John L Scott
Pam Frederick
509-370-5944
johnlscott.com
201810504
1-3
Single Family
22251 E Bennett Ln
5
5
$1,495,000
John L Scott
Pam Frederick
509-370-5944
johnlscott.com
201811600
3-5
Single Family
610 S Lakeside
5
4
$699,900
Moulton Realty
Barbara Collier
509-939-0130
moultonrealty.net
201814905
11-5:30
Single Family
24504 E Hawkstone Loop
2
2
$319,950
Professional Realty
Vanessa Varona 509-251-2382
professionalrealtyservices.com 201813327
12-2
Single Family
27 S. Legacy Ridge Dr
3
2
$374,000
RE/MAX
Sue Riener
509-370-0449
remax.com
201813568
11-4
Single Family
1403 S Hodges St
3
3
$360,000
Windermere Manito
Dawn McKenna
509-951-5011
Windermere.com
201812278
11-2
Single Family
2014 S Dusk Ln
6
4
$549,000
Windermere Manito
Doug Koenig
509-850-1839
Windermere.com
201810416
1-3
Single Family
26720 E Maddie
4
3
$617,000
Windermere Manito
Sam Hess
509-993-0468
Windermere.com
201813522
SOUTH
VALLEY
THE
lifestyle
YOU WANT
THE
quality
YOU DESERVE
THE
community
YOU LOVE
E N R I C H E D L I V I N G . L A S T I N G VA L U E .
New homes in Spokane, Spokane Valley, Liberty Lake, Post Falls & Coeur d’Alene.
greenstonehomes.com
THE SPOKESMAN-REVIEW
APRIL 28, 2018
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OPEN HOUSE WEEKEND
To the power of nothing
Among its other elements, this Greenstone Homes house’s design and construction help it achieve a “net-zero� energy rating by reducing the need to run a furnace or air conditioner.
‘Net-zero’ house in will generate enough electricity to offest residents’ energy use By Becky Kramer THE SPOKESMAN-REVIEW
Imagine living in a house that produces enough kilowatts of electricity to offset your energy use. Solar panels on the roof generate power. Ultra-efficient appliances cut down on energy consumption. The home’s design and construction also help it achieve a “net-zero� energy rating by reducing the need to run a furnace or air conditioner. Last year, Greenstone Homes built its first net-zero home in Liberty Lake’s Rocky Hill neighborhood. The net-zero concept – producing enough electricity onsite to meet the occupants’ needs – could be the future for homebuilding in the Spokane area. “I think there will be a day when almost every home we build may be net-zero,� Jim Frank, Greenstone Corp.’s founder, said of his company. California is already headed there. By 2020, all new residential construction in the Golden State must be net-zero. In the Inland Northwest, Frank predicts that net-zero home construction will follow market demand. The Greenstone home, which is open for tours, helps show people how a net-zero home operates. It also lets the company gauge interest and get feedback from prospective customers. About 2,500 members of the public have been through the netzero home, which was finished in August and featured in the Spokane Home Builder Association’s tour. “Technology is starting to drive a lot of changes in the homebuilding business,� Frank said. “Customers are looking for some new things, and we’re experimenting with them.� The all-electric house is priced at $315,000 and will eventually be sold. The residence is a compact, 1,167 square feet, featuring three bedrooms, two bathrooms, a great room, kitchen and a doublecar garage with extra storage space.
PHOTOS BY KATHY PLONKA/THE SPOKESMAN-REVIEW
Stephanie Link, Greenstone Homes marketing manager, talks about being able to track the efficiency of the builder’s net-zero home during a tour in Liberty Lake earlier this month. Greenstone officials declined to reveal how much the net-zero home cost to build compared to conventional construction. However, if the residence was built to local building code requirements, the annual electric bill would be about $1,000, according to the company. Instead, it’s zero. For environmentally conscious buyers, the residence has another perk: The solar power is carbon free. In Washington, about 5 percent of greenhouse gas emissions come from residences. (Transportation and energy sectors are the largest emitters.)
7 Annual th
Rocky Hill house features rigid foam insulation, a tight shell and high-performance windows. “You can have a house like a windbreaker or a house like a parka,� Benado said. The insulated, airtight parka approach requires smaller furnaces and air conditioners for heating and cooling. To keep the air fresh inside the house, there’s a system that vents stale, contaminated and moist air outside and brings new air in. The system is sophisticated enough to detect a build up of carbon dioxide in bedrooms from people ex-
Greenstone’s net-zero home Where: 2101 N. Wolfe Penn St., Liberty Lake Tours: Noon to 4 p.m. Thursday to Monday. RSVPs not required. Information: rockyhill@greenstonehomes.com
The Greenstone house is certified as “net-zero ready� by the U.S. Department of Energy. During a third-party audit, the house earned a negative score on the Home Energy Rating System, generating more electricity than it uses. The rating system “is like your
golf score,� Drew Benado, Greenstone’s home building division manager. “Lower is better.�
Behind the number The net-zero concept starts with the home design and construction. To keep out winter drafts and summer heat, the
See NET-ZERO, 11
OPEN HOUSE
28thth & &30 29thth WEEKEND APRIL APRIL 29
VALLEY OPEN HOUSES Saturday, April 29, 2017 -4
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1403 S. HODGES ST. Prices from $360,000+
Viking Builders – Twin Bridges – New Construction. Still time to make your ďŹ nishing selections. Visit Model Home for more information. dawnm@windermere.com
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2014 S. DUSK LN. $549,000 Beautiful custom home by Finch in the heart of the valley. 5 bdrms on the 2nd oor, 1st oor ofďŹ ce, 1 bdrm in basement. Hardwood oors and granite counters in kitchen/living room, formal dining, big entertainment room in bsmnt. Tastefully landscaped front and back, 3 car garage + bonus storage room, and permanent green-space next door.
DOUG KOENIG 509-850-1839 dougkoenig@windermere.com
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$617,000
SAM HESS (509)993-0468 samhess@windermere.com
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ROSLYN: 1910 S. Mulligan Ct • Greenacres, WA $380,000
•Move-in Ready •Cul-de-sac Lot •C overed Back Patio •Many Upgrades
LORI HESS • 509.992.3370
PAM F R E DR ICK 509-370-5944
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610 S. LAKESIDE, LIBERTY LAKE, WA $699,900 Large, move-in ready, open concept home with amazing lake views on 1.29 acres. Granite in the kitchen. 5 bed/4 bath. Spa-like master suite with gas ďŹ replace, sitting area and dressing room. Huge deck for outdoor entertaining. In-law suite with granite and full size appliances. 4+ car garage, workshop. Backup generator. Gated and private.
BARBARA COLLIER 509-939-0130
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26720 E. MADDIE LN.
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22251 E . BE NNE T T L ANE
PAM FREDERICK 509-370-5944
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Custom built 4bd/3bth on 10+ acres in gated development. Expansive views, oversized 3-car garage, daylight WO basement, & incredible ďŹ nishes!
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Breathtaking views of the entire City in this Exceptional Home. 5Bed/5Bath, 6397 sf w/ 4+ Garage.
Stunning Entertainer’s Dream Home extensive updating 2017. 4Bed/4Bath, 5583 sf w/ 3 Car Garage.
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16517 E. 24TH LANE
DAWN McKENNA 509-951-5011
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27 S. LEGACY RIDGE DRIVE $374,000 Stunning is the word for this rancher’s view! Hot tub double deck10x10 & 10x16- Set up your outdoor kitchen and you are gonna love this 1/3 acre MOL lot w/ green space below. Great room, front security lights, ďŹ replace, ceiling fans, CAC, 3 car garage! New carpet thru out- Don’t wait, this home won’t last. SUE RIENER 509-370-0449 | SUER@REMAX.NET
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24504 E. HAWKSTONE LOOP $319,950 This single family home offers luxury living as well as a sense of community all in one! This luxury home is built with all the upgrades included: Quartz countertops (8’ grand entry door, high efficiency furnace and windows t gorgeous modern colors and ďŹ xtures throughout the home and a private patio just to name a few. Enjoy the outdoors?? Hop on the Centennial Trail right outside your door! VANESSA VARONA AND RICK CHAFFIN 509-251-2382 AND 509-868-7082 VANESSAV@STONEHILLLIVING.COM RICKC@ STONEHILLLIVING.COM
NEWPORT: 22570 E. Wellington Pkwy • Liberty Lake, WA $341,000
•Maintenance Free •Finished Basement •Main Floor Living •Move-in Ready
KRISTI GREEN • 509.496.0174
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APRIL 29, 2018
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Here’s our brand new North Spokane Project! - Landscaped front yards w/ sprinklers - Many floor plans, options & upgrades to choose from. - Call us today for more information!
HATCH ROAD
- New home base prices beginning 1 May at $227,400! - 1 mile north of Midway Elementary off of Hatch - ½ mile south of the Northside Aquatic Ctr 6,698 SF 5,923 SF 5,683 SF 607 613 619
10,066 SF N/A
S
S
6,216 SF 601
S
CANTERBURY LANE
S 602 8,933 SF
Co lt o
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St E Handyy Rd St
610 618 5,885 SF 5,001 SF
NC olfa x
E Handy Rd
628 704 712 718 722 728 732 806 816 5,035 SF 5,020 SF 5,005 SF 5,000 SF 5,005 SF 5,000 SF 5,002 SF 5,237 SF 5,183 SF
824 9,029 SF
820 10,028 SF
S = Sold
Northside Family Aquatics Facility acility
Parker Dr
N Hatch Rd
Astor Ct
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5,297 SF 5,023 SF 5,029 SF 5,026 SF 625 703 709 715 721 6,363 SF
E Handy Rd E Kilgore Rd
E Trevor Rd
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The Jefferson, 1659SF 3 bed / 2.5 bath $267,400
E Westcrest Ave
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The Spruce, 1979 SF 3 bed / 2 baths $257,400
E Bonnie Lynn Ln E Cooper Ln
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N Dartford Dr
E Wellington Dr
Midway Elementary School E Midway Rd r D to n ling E Wel NM
Dr
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E Midway Rd E Midway Rd
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E Cooper Ln 395
E Silver
N Mayf
N Dartford Dr
N Hatch Rd
E Silver Pines Ct
The Sammie, 1200 SF 3 bed / 2 bath $227,400
Bill O'Dea • (509) 714-3814 bill@billodeahomesales.com David James • (509) 863-8097 davidj@windermere.com
17215 Barclay Ct
3115 W We 7707 Gasn 17221 E
THE SPOKESMAN-REVIEW
APRIL 29, 2018
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estview net Ln 17th
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Charming brick rancher on upper South Hill! Updated 4bed/2 bath (2100+SF) home in darling, quiet neighborhood near Hart Field. Kitchen & bathrooms have been updated w/room for third bath on the upper floor. RARE attached 2 car garage. All on corner lot! Amy Khosravi, Broker (509) 230-1194
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OPEN SAT. & SUN. 12-3
Beautifully updated George Paras Custom Home on South Hill. Elegant two story home has been newly remodeled & features new surfaces, fixtures, appliances & added finished space. Stylish hardwoods, new tile features throughout & added bath on the lower level. Mike Bass, ABR, CRS. Managing Broker (509) 990-4980
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OPEN SAT. & SUN. 12-3
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THE SPOKESMAN-REVIEW
APRIL 28, 2018
OPEN HOUSE WEEKEND
Research, financial plan keys to building house of your dreams Tight local market makes a custom home attractive, realistic option for some By Amy Edelen THE SPOKESMAN-REVIEW
With shrinking inventory of existing homes for sale in Spokane’s booming real estate market, more people are considering buy land and building their new home. Joel White, Spokane Home Builders Association executive officer, said demand for homes and builders is “really high right now.” “The Multiple Listing Service inventory is near all-time lows for this time of the year,” he said. The cost of new home construction is rising, but that is also pushing up existing home prices.” White said Spokane Valley, the lower South Hill, north Spokane are experiencing a majority of growth in single-family home construction. Home inventory is down 19.7 percent since March 2017, according to the Spokane Association of Realtors. Joe Mann, who owns a home in Colbert, experienced that inventory shortage firsthand during his search for a home in Liberty Lake to be close to his grandchildren. Every home he looked at already had several offers on it. “Homes just don’t last very long in Liberty Lake,” he said. “The market is extremely hot there, to say the least.” Mann, a former Realtor and a past president of the Spokane Association of Realtors, said the shortage of available homes influenced his decision to build
KATHY PLONKA/THE SPOKESMAN-REVIEW
Custom-home builder Todd Sullivan stands near one of his company’s homes on Del Rey Drive earlier this month. a custom home. “I found a smaller builder that I knew, talked to them and they made (the process) easier than I thought it would be and financially feasible,” he said. Mann’s youngest son and his wife built their home last year and provided helpful advice on the homebuilding process. “We talked about how they dealt with it, and learned a lot from them as well,” he said. Mann said because inventory is scarce and homes are selling fast, he
and his wife didn’t want to run the risk of not having a home ready to move into if their house sold quickly. So, by building a home, the timeline was predictable. “This way, by building, we can stay in our house until 90 days before the (custom home) is built, put (our existing home) on the market, sell it and move once,” he said. With a custom home, people get to pick out everything such as colors, flooring and other interior elements, he said. Mann said they are mod-
ifying an existing floor plan, adding square footage and moving interior walls for their custom home. “It’s good to be able to make all those decisions, but that’s a bit of a challenge as well,” he said. Todd Sullivan, owner of custom home-builder Sullivan Homes, said business is booming because low inventory is forcing people to think outside the box, and that includes home building. “The inventory issue is tremendous,” he said. “Every day we are looking at
inventory levels here.” Sullivan’s full designbuild company allows customers to pick out specific features for their custom home, schedule appointments, communicate with the builder and access webcams installed at the home site, so they can view construction progress in real time. “Technology has changed (the custom home process) and made it more accessible for everyone,” he said, likening it to buying a new car. “When clients come to
us, we start at the very beginning,” Sullivan said. “The difference between buying and building a home with us is they truly will design their own home in a 3-D CAD design system.” Sullivan said typically a real estate agent isn’t involved when people have a custom home built, which means they can save on commission costs. People can also save money through reduced lender fees and rates. Additionally, money can be saved through selection of home features. “If you build a custom home with us and you are careful in your selections, (then) what you do you can save quite a bit of money,” he said. White, the SHBA executive officer, said people interested in building a custom home should reach out to various builders and look for the type of home and land quickly. Mann advises people to have finances in order before building a home by having cash on hand and other liquid assets, because not every lender can do an all-in-one construction loan. He also they should know what the cost is going to be before signing the contract. Mann is in the process of signing the contract for his custom home, which will be completed in six months. “This is new for us,” he said. “It’s time to do something like this. We are looking forward to it as an adventure and are having fun with this.”
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SAN DIEGO – Buying a brand-new home offers many advantages over purchasing resale, and one of the most important is that new houses are designed for the way people live today. Homebuyers are looking for open, flexible spaces to suit a more casual lifestyle – and builders are paying attention. Here are some of the top trends influencing today’s home design:
Open living spaces With the proliferation of television shows and websites devoted to real estate, home decor and design, home shoppers now arrive at a sales office with a list of “must have” features that they want in their next home. At the top of the wish list is an open concept floor plan. In a National Association of Home Builders report published last year, builders surveyed said the kitchen-family room ar-
rangement is completely or partially open in 84 percent of their homes. In 54 percent, the main living spaces are completely open. “Five years ago, there was a thought that the desire for a separate dining room may return, but that notion has fallen completely to the wayside,” said Tom Redwitz, chief investment officer at The New Home Co., based in Aliso Viejo, Calif. More than ever, buyers seek bright, inviting spaces for entertaining, and the trend is pulling the majority of shoppers toward plans with the lowest wall-tosquare-foot ratio.
Outdoor rooms It’s not just interior walls that are vanishing. According to a recent American Institute of Architects report, demand for outdoor living space has grown by 70 percent since 2013. San Diego homebuilders CalAtlantic Homes, Shea Homes, Pardee, Brookfield Residential, California West Communities, and Toll Brothers are among the developers that
feature outdoor rooms in homes of almost every price range throughout the county. To provide an indooroutdoor living experience in denser markets, the use of rooftop decks is soaring, as found at Hallmark Communities’ 1125 South Cleveland project in Oceanside. Across the board, exterior spaces are taking shape as sizable outdoor rooms that are functional year-round and are as much a part of the home as its interior spaces. Shading and heating products as well as audio and video technology make it possible to extend entertaining spaces to the outdoors year-round, adding usable square footage to the home. At Almeria, a luxury residential community in San Diego by Pardee Homes, Robert Hidey Architects designed upper-story private exterior spaces that can be closed off as rooms or opened to flow out of the great rooms, making them See FLOOR PLANS, 11
THE SPOKESMAN-REVIEW
APRIL 28, 2018
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OPEN HOUSE WEEKEND “It is never a bad idea to get a place inspected, even if it’s brand new.” Jeff Vietzke Owner of Home Inspections Maintenance and Management LLC
Inspections help eliminate surprises With sales made and lost based on what turns up, both sellers and buyers benefit with things in their report – little defects in paint, scratches on countertops, and all items a person can ask the builder to fix before taking ownership or getting the occupancy certificate With a new build, Storer added, there are a lot of different contractors running through a house that could result in finished products that conflict. Word of mouth, recommendations and personal research are among the better ways to find the best inspector, according to those in the field. Graham-Snow said she has a list of inspectors with whom she has developed relationships and will recommend to her clients. But it is still their decision to decide who will best fit their needs. Prahl said it also is important to know state laws and regulations. For example, is an inspector licensed? In Washington, licensed inspectors go through both state and national exams, but in Idaho, inspectors are not required to take the same certifications. The Washington state Department of Licensing lists the rules on its website, but Prahl said many inspectors also will add some of their own that clients should be aware of. For him, he requires the buyers to be present at the inspection because he views it as more of an education process than anything else. Storer advised buyers to read online reviews and come up with some questions to help get a feel for the company. He said is it important to ensure the company will provide the attention, work and customer service the buyer expects. “As a home inspector you are kind of carrying the most amount of liability because you are the last word whether to buy or walk,” Prahl said. “So you have to be very detailed to people about what you present and how you present and explain it.” Storer said he gets asked a lot, “Would you buy this house?” His answer: “Everybody’s situation is different and that we are there just to give them all the information we can, but it is up to them to make the decision.”
By Samantha Malott THE SPOKESMAN-REVIEW
No house is perfect. From a home that has been lived in and tenderly cared for by a family for 20 years, to a new build or the supposed “dream house,” it is inevitable there will be some flaws and necessary maintenance. That is where a home inspector steps in. Home inspectors are charged with finding the smallest to biggest problems with the interior and exterior of a home for a prospective buyer in hopes of helping them make the most informed decision and offer on a potential purchase. “It is never a bad idea to get a place inspected, even if it’s brand new,” said Jeff Vietzke, a certified home inspector and owner of Home Inspections Maintenance and Management LLC. “You might think you have a lot of knowledge, but when it is someone’s job, it may not be pleasant, but it is money well spent. Going to that length can tell you a lot about your future in a home.” Vietzke said he looks at everything he can during an inspection – without being destructive – from mechanical and plumbing systems, doors, windows, electrical panels, attics, crawl spaces and the roof. He also looks for signs of water damage or moisture intrusion as well as missing or falling insulation. “That’s the meat and potatoes of an inspection,” he said. Brandi Graham-Snow, a Realtor and broker with Windermere Real Estate in Spokane for 10 years, recommends all of her prospective buyers schedule inspections. “You always do a home inspection. I don’t care what you’re buying,” she said. “In all my years, I’ve only had one that didn’t have anything come up.” Graham-Snow said buyers have a 10-day window following an offer’s acceptance to schedule an inspection. From there, buyers are able to respond to what was found and send any requests for fixes to the seller. The seller then has three business days to respond to the requests. The buyer then has three days to either accept or reject that counteroffer.
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Vietzke looks for an antitipping device on an oven in the home. A sale can be made or lost in the inspection process, but it all depends how much work the buyer is willing to put into their new home. Graham-Snow said she recommends as a baseline to
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Jeff Vietzke, an inspector/general contractor/inspection trainer with with HIMM Spokane, checks the porch supports on a home in the Corbin Park area of Spokane earlier this month.
$615,000
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have at least $7,000 set aside for a $120,000 home. Aaron Storer, certified inspector and co-owner of Golden Star Home Inspections, said big things that can make or break a
sale are cracks in the foundation, leaning walls or mold – fixes that are going to be costly. He also looks for add-ons that either weren’t professionally done or properly permitted by the city, Storer said. Erich Prahl, certified home inspector at The House Inspectors, said every inspection is different, depending on how and when a home was built and how it has been cared for over the years. “We don’t have the superman powers to see behind walls,” he said. “There are some tools we can use, such as thermal imaging, to see if there is some insulation missing or water or moisture in an area you can’t visually see.” “It’s always good to call out more than not enough,” Vietzke said, adding inspectors can also defer suspect things to another expert for further evaluation. Even new builds are recommended for inspection. Storer said he goes to new constructions often, where a home inspector will be a lot pickier
CONTACT THE WRITER:
(509) 459-5408 samantham@spokesman.com
OPEN HOUSE
28thth & &30 29thth WEEKEND APRIL APRIL 29
SOUTH OPEN HOUSES
Carrie Meyer (509)868.1077
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2510 S GRAPETREE DR. | SPOKANE, WA 99203
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3615 S. EASTGATE CT. $675,000 Just listed. Comstock Rancher. 5 bed, 4 bath, 3 car garage. Designer kitchen. MARIANNE BORNHOFT 509-879-3779
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$175,000 Darling ranch, BRAND NEW gas furnace, updated bath, eat-in kitchen, private fenced back yard JEANNETTE KARIS 509-994-8246
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THE SPOKESMAN-REVIEW
APRIL 28, 2018
OPEN HOUSE WEEKEND “You have to not think of your house as the home that you raised your children in and it’s full of memories. The house must be viewed as the buyer’s house, not your house. Make it look like a model home.” Kenneth Sax President of the Spokane Association of Realtors and designated broker at Keller Williams Realty
Selling your home for first time? Know the market and what costs to expect in order to avoid frustration By Amy Edelen THE SPOKESMAN-REVIEW
For first-time sellers, putting a home on the market can be a daunting and stressful process that involves staging the residence, scheduling open houses and navigating home inspection and closing costs. The average cost to sell a Spokane home priced near $216,000 is $21,701, which includes $4,850 in basic home preparation costs and $16,851 in closing costs, according to data from Zillow. Jennifer Valerien, the owner/broker of Re/Max Inland Empire and a board member for the Spokane Association of Realtors, said closing costs are often split between the buyer and seller, but sometimes, if a buyer is well-qualified by a lender and can’t afford the closing payment, they can ask the seller to pay closing costs, Valerien said. She said in addition to closing costs, there’s a Washington state excise tax for sellers, which can be from 1.5 to 1.7 percent of the selling price. Kenneth Sax, president of the Spokane Association of Realtors and designated broker at Keller Williams Realty, said it’s important for first-time home sellers to understand if they are in a seller’s, buyer’s or neutral market. “Every market has its
JESSE TINSLEY/THE SPOKESMAN-REVIEW
Local real estate agents say it is important that first-time home sellers understand if they are in a seller’s, buyer’s or neutral market. own set of dynamics,” he said. At present, Spokane is a seller’s market, which means a low inventory means homes are quickly snapped up by buyers. “If your house is clean and priced well and not a million dollars, you can expect to have the house under contract from the first week to the first month,” Sax said. However, Sax advises first-time sellers to avoid overpricing their home. “The buyer isn’t even seeing your house because they are looking for homes they can afford,” he said.
Additionally, sellers should understand that if a buyer is willing to overpay for the house, it still must be appraised. If the appraisal comes in at a lower value than the amount offered, the lender may not loan the buyers more money than the house is worth. “Understand what the options are if the appraisal comes in low,” he said. “(Lenders) add in a little appreciation, but often times not enough. Understand it’s never a done deal.” Valerien said multiple offers on homes are com-
mon in Spokane, but echoes that buyers are still only looking at houses appropriately priced in the market. Valerien said people should call a real estate agent early to help navigate the selling process by discussing scenarios, logistics and timing – even if the home isn’t market-ready. “We can help explain to them the time and monetary investment to maximize their return,” she said. “If they reach out early enough, we can advise them what to do to get the
house ready.” Sax said it’s imperative to declutter the home and eliminate emotions during the selling process. “You have to not think of your house as the home that you raised your children in and it’s full of memories,” he said. “The house must be viewed as the buyer’s house, not your house. Make it look like a model home.” Valerien agrees, saying sellers should make the home appealing to as many buyers as possible. “The buyer wants to be able to visualize themselves and have a hard time doing that when they see your stuff,” she said, adding to stage rooms as they typically would be used by most people. Sax emphasizes firsttime home sellers should be receptive to the demands of prospective buyers for showings. “Make your house available,” Sax said. “If somebody wants in, let them in. If buyers can’t get in, they are going to move on.” Valerien said sellers should consider taking a backup offer on the home in case the first offer falls through. “In this market, I think it’s important for sellers to know they might get an offer accepted on their property and it may fall through, but it’s OK … I don’t want them to get discouraged about that,” she said.
Millennial buyers finally making move into homes By Steve Brown DALLAS MORNING NEWS
Millennials who have been slow to make the move to homeownership are finally starting to edge out older buyers. Last year millennials accounted for 36 percent of U.S. home buys – more than any other age group according to the National Association of Realtors. Baby boomer buyers were a close second with 32 percent of home purchases. Sales to millennial buyers would be even higher if there were more affordable properties available for firsttime buyers, industry analysts say. “Realtors throughout the country have noticed both the notable upturn in buyer interest from young adults over the past year, as well as mounting frustration once they begin actively searching for a home to buy,” Realtors chief economist Lawrence Yun said about the latest profile of buyers. “Prices keep rising for the limited number of listings on the market they can afford, which is creating stark competition, speedy price growth and the need to save more in order to buy. ”These challenging market conditions have caused – and will continue to cause – many aspiring millennial buyers to continue renting.“ The Realtors study found that a typical millennial buyer had a household income of $88,200 and purchased a house with a median See MILLENNIALS, 11
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APRIL 28, 2018
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New-home sales up 4 percent in March By Josh Boak ASSOCIATED PRESS
The Huntington home in the Rockwood neighborhood on Spokane’s South Hill.
HISTORIC Continued from 2 could be subject to a management agreement with the city that requires work to be reviewed by the Spokane Historic Landmarks Commission. Lucia Huntington said that while the couple was fortunate their home was in good shape when it was purchased, some homeowners may have to redo plumbing and wiring in their homes. “Certainly an inspection is critical,” she said, stressing the importance of hiring an inspector that specializes in older houses to identify issues that others might not be attuned to. Historic preservation consultant Linda Yeomans helps homeowners and commercial landlords in Spokane get their buildings listed on local, state and national historic registers.
“We have amazing historic neighborhoods in Spokane with the opportunity for people to get in these homes at all kinds of levels.” Megan Duvall, Spokane historic preservation officer
“People really like learning the history of their house,” she said. “One of the first things they ask is if I can find out who lived in their house and what they did. They want to know everything about the history of their house.” When she started in 1996, there would be about two historic register nominations a year. Now there’s one every couple of months. “Many more people are (restoring homes) now than when I start-
KATHY PLONKA/THE SPOKESMAN-REVIEW
ed 22 years ago,” she said. Duvall, the historic preservation officer, said historic homes run the gamut in Spokane from mansions to Craftsman and midcentury properties. “We have amazing historic neighborhoods in Spokane with the opportunity for people to get in these homes at all kinds of levels,” she said. Yeomans said when the Spokane Preservation Advocates began historic home tours, it spurred interest from people to restore homes. “People really like to go on those. They have been very well received,” she said. “Since that got started, people wanted to do something with their house and make it look really good.” Yeomans said if a home is more than 50 years old and has retained its architectural significance, or is associated with a significant person or event, it can qualify for the Spokane Register of Historic Places.
When a home is on the register, owners can receive benefits in the form of tax credits. If a homeowner spends money to renovate and restore the home, that money can be deducted from the home’s assessed value for up to 10 years – which could result in a lower property tax bill, Yeomans said. Yeomans said by renovating a historic home, it raises neighborhood property values and encourages neighbors to restore their homes, too. Lucia Huntington said although owning a historic home has been a learning experience, she’s pleased with the purchase. “We didn’t know how much we loved historic houses until (the one) we live in now,” she said. “We love it more each year.” CONTACT THE WRITER:
(509) 459-5581 amye@spokesman.com
NET-ZERO Continued from 5 haling while they sleep, Benado said. “When we had the fires last summer – with all the smoke and ash – the air quality was much higher inside than outdoors,” he said.
Power from the sun Ninteen solar panels generate electricity for the house. Side-byside meters at the back of the house track power production versus energy use. Residents can also log-in to their computer to see what’s happening. When the solar panels produce more electricity than residents are using, the homeowner will get a credit from Avista Utilities, said Mary Tyrie, an Avista spokeswoman. The credits can be banked until the end of the year, when regulations require the account to be zeroed out, she said. Avista acts as a backup electric source for the home when the residents use more energy than the panels produce, and after the sun goes down. Northwest Renewables of Spokane provided the solar panels for the Greenstone Home. Regardless of the size of the system, most of the solar installations achieve payback within six years, said Gavin Tenold, Northwest Renewables’ owner and general contractor. The payback time includes the effect of federal tax credits, he said. In addition, Washington residents can get an incentive for using solar panels made in the state. Idaho residents are eligible for a state income tax credit. The eventual development of solar-storage batteries will be a game changer for residential systems, Frank predicted. Most solar power is generated between 11 a.m. and 3
FLOOR PLANS Continued from 8 adaptable for hosting social functions of various scopes and sizes. Downstairs, the kitchen – which receives light from three sides – features a wall that folds away at the sink and provides a catering station for outdoor dining. In addition, the growing number of product manufacturers offering affordable sliding and foldable window and door systems makes it possible to create an indoor-outdoor flow while still managing costs. “Collapsible doors are being offered at nearly every price point today. Plans that don’t include them – especially in markets like San Diego with temperate climates – are at a competitive disadvan-
WASHINGTON – Sales of new U.S. homes jumped 4 percent in March, propelled by a surge of buying in the West. The Commerce Department said Tuesday that sales last month were at a seasonally adjusted annual rate of 694,000. The two prior months had their sales revised upward with the annual rate being 667,000 in February and 644,000 in January. For the first three months of 2018, sales are running 10.3 percent higher than a year ago. Homebuyers are snapping up newly built houses as the economic outlook has continued to improve in recent months. Nor have the gains been derailed so far by 30-year mortgage rates climbing to their highest averages since early 2014. Still, the solid sales growth for new homes also shows that many would-be buyers can’t find existing homes that are available to purchase. Listings for existing homes sank to the lowest levels on record for March, the National Association of Realtors reported on Monday. New homes tend to cost more than older properties. The median sales price of a new home rose 4.8 percent from a year ago to $337,200, a nearly $87,000 premium on the median cost of an existing home. Prices for a new home are increasingly concentrated at higher price points. In 2016, 53 percent of new homes cost more than $300,000. That figure climbed to 60 percent for new homes sold in March. The March increase was driven almost entirely by a 28.3 percent leap in sales in the West. New-home purchases rose slightly in the South, fell in the Midwest and plunged in the Northeast. The new home sales report can be volatile on a monthly basis, causing the numbers to be revised later.
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The all-electric house has an energy-efficient kitchen. p.m., yet home demand for electricity peaks in the late afternoon and evening. The ability to store solar energy for use at peak times will make it more valuable, Frank said. And in the event of an extended power outage, such as in the wake of the 2015 windstorm, people would have backup systems, he said.
Appliances play role Energy-efficient appliances contribute to the Greenstone home’s net-zero rating. The dishwasher, refrigerator and washing machine in the house are Energy Star rated tage,” Redwitz said.
Multigenerational living As more people enjoy the benefits of multigenerational households, homes with ground-floor suite options are increasingly in demand. Almost one in five Americans live in multigen households, according to a Pew Research Center report released in August 2016, and the number is growing. In San Diego, more builders are offering flexible floor plans to accommodate shifting family dynamics. “As the cost of housing rises, households are expanding to accommodate adult children, elderly parents, and space for a caregiver, and more,” said Robby Thorne, CEO of California West Communities, which recently unveiled S.L. Rey in Bonsall. Three of the four floor plans for
to reduce electricity use. Newer dishwashers also use less water, said Rick Hurd, the store manager for Fred’s Appliance Design Center in Spokane Valley, which sold the appliances to Greenstone. Newer machines use four to seven gallons of water per load compared to seven to 12 gallons for an older machine. Energy Star washing machines also cut down on energy and water use, Hurd said. Sensors determine how full the machine is and adjust the amount of water added to each cycle. Higher spin speeds extract more water from the fabrics, so the clothes require less time in the
dryer. The house also features LED lighting and low-flow faucets. And the paint and flooring were chosen based on low emissions of chemical compounds. “This is an evolving area,” Frank said of net-zero home construction. “I do believe that demand will grow as people start to understand the return on investment. “Ultimately, we hope it drives down the operation and maintenance costs on a house,” he said.
the neighborhood had choices for multigen living spaces – and the first two buyers purchased the option, Thorne added. Brookfield Residential, CalAtlantic Homes, Shea Homes, Lennar and Pardee also build homes with multigenerational living choices that may also include universal-design features such as zero-entry showers and wide, accessible hallways and living spaces.
volved in the building process and select options and upgrades before they move in, instead of having to make changes to a home after settling in. Almost every builder has a design center, staffed with professional design experts and consultants, ready to give step-by-step help along the way. The centers offer design features previously only available for custom homes, including whole-home control systems for security, lighting heating and air; special home theater packages; solar heating choices; and top-end design choices for stone, tile, wood, and more. Today’s savvy homebuyers know what they want, and builders are listening, creating innovative homes fit for today’s active families regardless of their size and makeup.
Customization Who wants to tear down walls, replace flooring and paint after they move into a home? Turns out, fewer and fewer homebuyers. According to Mike Moore, author and building industry coach, 53 percent of home shoppers prefer new to resale. The No. 1 reason: Buyers want the ability to be in-
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price of $220,000. Almost half of the millennial homebuyers reported that they also had student debt with a median loan balance of $25,000, the Realtors found. High student debt had been identified as one of the top factors keeping renters from buying a house. First-time homebuyers made up just 34 percent of U.S. home sales last year, down from 35 percent in 2016. The share of first-time homebuyers has plunged from 2010 when they accounted for half of all home sales, according to the Realtors. Sixty-five percent of recent homebuyers said they were married couples. And 37 percent of homebuyers had children under age 18 living at home. The Realtors found that the nationwide average size for recently purchased homes was 1,870 square feet, with three bedrooms and two bathrooms. With rising mortgage costs and soaring home prices in many markets, homeowners are staying put longer. Recent buyers said they expect to live in their homes for a median of 15 years. And 18 percent say that they plan to never move. About 40 percent of the buyers said they previously rented an apartment or house. Another 12 percent said they previously lived with family or friends.
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THE SPOKESMAN-REVIEW
APRIL 28, 2018
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