ISSUE 114
NEWSLETTER
APRIL 2021
@home
WITH COLDWELL BANKER TOMLINSON
1992
2005
Liberty Lake, WA
Remembering Bill Main: His Vision Is Our Reality
T
here are no two ways about it; Spokane, City and County, are on the national radar.
Realtor.com, which should know, has declared our community the tenth most active real estate market in the country, due largely to its “quality of life.” That quality is due in part to the natural attributes of the area, but also very much to the vision and energy of the real estate developers who have made the most of those attributes in their design of the residential and commercial opportunities that are drawing Bill Main residents and businesses from all over the world. Among those developers, none has left a more positive and more lasting mark than Bill Main (1928-2018). All who knew him miss his enthusiasm and his optimism, which shone about him like superpowers. In the late 1970s, Bill Main Sr. and his son, Bill Jr. saw the potential of an "urban village" tucked in Spokane County's easternmost corner. While Liberty Lake was seen by most as a collection of waterfront homes, a single gas station and sweeping fields hedged up against an interstate highway, the Mains imagined a walkable, mixed-use community featuring nourishing trails, parks and well-built homes. "Bill Sr. was a visionary," says Jim Frank, founder of Greenstone Homes and former business partner of the Mains. "He had some great ideas about land use. The original concept of Meadowwood, which we eventually built out, was the concept that Bill initially had." Bill Sr. founded Main Realty in 1959, eventually broadening the company into residential development and construction. The business became a one-stop development shop, platting nondescript land, building the homes and marketing the
properties. Over the course of decades, Main Realty would develop thousands of lots in Washington, Idaho and Montana, including well-known Spokane neighborhoods like Suncrest, Shiloh Hills and Camelot. Having earned a degree in business, Bill Jr. joined his father in pursuing their notion of Liberty Lake in the midst of an economic downturn, overcoming apathy from more than a few lenders before finally securing support from SeaFirst Bank and, later, major financing from Alaska Mutual Bank and, finally, the support of Hewlett Packard, which proved a tipping point. The Mains' mixed-use concept is familiar to anyone who has visited Liberty Lake: a retail center, business district and residential development blended into a pedestrian friendly community with plenty of green space. At the time, however, their vision was nothing short of revolutionary. Their visit to the HP Stanford Park campus in Palo Alto snapped it into sharp focus, and provided the financial impetus to move ahead. HP would be the first commercial tenant in the Liberty Lake area, paving the way for other high-tech businesses like Telect and Itron. High interest rates had a dampening effect on development until the early 1990s, when residential and commercial projects began emerging in Liberty Lake and throughout Spokane County. Still, growth in the area was slow. Regardless, Bill Main Sr’s indomitable energy and optimism powered through all resistance, mowing down timidity and mediocrity in their path. In place of a statue or a plaque, his monument is the gratitude and joy felt not only by the residents of Liberty Lake, but by everyone in the region, proud that their community sports such a jewel in its crown. Based on original reporting by Craig Howard, and published by his kind permission and that of Ben Wick, current publisher of The Liberty Lake Splash, and Mayor of Liberty Lake.
Value, Value……Who’s Got the Value? Article by Gemma Bright, Contributer
W
hy is understanding the value of my house important if I am not interested in selling? Does it seriously matter? Surprisingly, it does. Refinancing, home equity lines of credit, insurance premiums and annual property taxes are all based on home value. This is important information for every homeowner to be aware of.
Since a few weeks had passed since I began my research, I returned to the websites I had first consulted, and found that, while all of them registered huge increases, there was still a variance of $169,000. So, I came to the conclusion that although the websites are good tools in the tool box the only way to obtain a truly reliable, upto-date picture of the value of my property was to utilize the services of a REALTOR®.
So, I thought that I had an idea of how much my home would be worth, even in this hyper® aggressive market that we are currently REALTORS are on top of the market daily, have experiencing, but nothing definite, so access to more much more detailed information I began by scouring the internet to than is available to the general public, and are find the best websites, and I called my well aware of the state of the market in exactly the professional real estate agent as well. neighborhood that interests you. I looked at seven websites, including several maintained by major real estate brokerage offices. The highest price of $690K was Of course, one could go to the expense of hiring a very laughable to me, as it was WAY off, but the low licensed appraiser, also, if required by an attorney or price of $521K didn’t square with recent sales in my lender. Otherwise, it’s not necessary to drive around for neighborhood that I was aware of. The difference is 3 hours looking at houses like I did! $169,000, and some of the comparison these websites provided had no similarity to my house! REALTORS® are on top of the market daily, have access to more much more detailed information than is available Such a huge variance left me with no confidence in any to the general public, and are well aware of the state of of the numbers I was given. I was grateful that my the market in exactly the neighborhood that interests you. Coldwell Banker Tomlinson agent was able to provide They are truly experts in their fields. Do not hesitate to me with a clear and understandable explanation of the ask your Coldwell Banker Tomlinson REALTOR® for an most accurate data. This enabled me to determine that annual evaluation of what the value of your house is – a value of $570K was about right. they would honestly love to do it for you!
Ingredients
HOME RECIPES
Grammy Carol’s Oatmeal Cookies Instructions
1 cup Salted Butter (softened) ¾ Cup Granulated Sugar ¾ Cup Packed Brown Sugar 2 Large Eggs 1tsp Pure Vanilla Extract 1 ¼ cups Flour 1 tsp Baking Soda ½ tsp Salt ½ tsp Cinnamon 3 cups Quick or Old-Fashioned Oats 11 oz pkg Nestle Toll House Butterscotch Morsels ½ cup Chopped Walnuts ½ cup Chopped Dates ½ cup Sweetened Shredded Coconut
Preheat oven to 375 F
COMBINE: In your mixer, beat Butter, Granulated Sugar, Brown Sugar, Eggs, and Vanilla Extract. Once mixed thoroughly, add Flour, Baking Soda, Salt & Cinnamon. Once mixed, fold in remaining ingredients. With a small cookie scoop or tablespoon, drop onto silicone lined baking sheets. BAKE: 10 minutes for chewy cookies, 12 minutes for crispy cookies. Let sit on cookie sheets outside of oven for 2 more minutes, then move to wire cooling racks until completely cooled.
YIELD: 3 dozen- I usually bake a dozen and freeze two dozen for later! FREEZER COOKIES: Using Press & Seal or Saran Wrap (15”), add prepared cookie dough and roll into a “cookie log,” twisting ends closed. Freeze until ready to bake and you can simply cut off cookies to bake.
How To Celebrate the message of Earth Day In Spokane Earth Day is recognized on Thursday, April 22, but there's many opportunities in our community to celebrate the spirit of green living and environmental protection beyond the annual event. Whether you want to hike to see a waterfall or browse in a market filled with fresh local produce, there's plenty of opportunities. Check out the following places to take part on Earth Day, and beyond, in Spokane: Liberty Creek Hiking Trail - Liberty Lake Regional Park - 3707 S. Zephr Rd., Liberty Lake, WA 99019 Get out and about to enjoy Spokane's natural beauty on the Liberty Creek Hiking Trail, which is almost four miles long from point to point and located near Liberty Lake homes for sale. It's rated as intermediate/difficult and offers a picturesque view of a waterfall along the way, creating the perfect spot to stop for a rest and a snack. You'll end up crossing Liberty Creek twice via footbridges on your way to a cool, damp cedar grove before climbing to a view of Liberty Lake. Main Market - 44 W. Main Ave., Spokane, WA 99201 Choose delicious, wholesome local foods at Main
Market, Spokane's only cooperative grocery store, located just around the corner from Spokane homes for sale. You'll find a large selection of products, including local eggs, fruits, veggies, and more. And in the bulk foods section, you'll be able to find products such as dried fruit, teas, spices, and more that you can buy in the exact quantity you need. You can grab breakfast or a meal from the hot or salad bar. Cookedfrom-scratch community dinners are available every Thursday for $3 and include a meat option as well as a vegan one. Lima Greenhouses - 2100 S. Inland Empire Way, Spokane, WA 99224 Planning on planting on Earth Day? Lima Greenhouses is a locally owned nursery that provides quality wholesale plants to eastern Washington and northern Idaho. Here you'll be able to find plant products that have been grown and cared for by experts. You can find almost anything you need to make your landscaping beautiful, including annuals, perennials, shrubs, herbs, and fruit and vegetable plants as well as gardening supplies and decor.
Coldwell Banker Tomlinson 4102 S Regal St, Suite 201 Spokane, WA 99223
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ISSUE 114 | APRIL 2021 ©2021 Coldwell Banker Tomlinson. All rights reserved. Each office is independently owned and operated. If you currently have an Agent assisting you with the purchase or sale of property, this is not a solicitation for business.
SPOKANE REAL ESTATE MARKET STATISTICS – Market update March 2021 snapshot Average Sales Price
Current Listing Inventory
$372,515
163
Up 20.6%
Down 74%
Median Sales Price
Closed Sales
$340,550
567
Up 17.5%
Down 1.7%
Average Days On Market
Annual Residential Sales
10
1,466
Down 58.3%
Down 1.4%
March 2021, as compared to March 2020. The information in this report is compiled from a report given by the Spokane Association of REALTORS® and to the best of our knowledge is accurate and current.
The Spokane Real Estate Market is seeing unprecedented appreciation and if you are thinking of selling now could be the perfect opportunity to cash in on your home’s equity. One of the best ways to do that, and not worry about where you will be living after the sale, is to secure a bridge loan to purchase your next home. A bridge loan allows you to buy a home and bridge your current home loan and the new one together while allowing you time to sell your home once the loan process is complete. With the average home selling within days, this takes the risk and worry out of selling your home and finding a new home to live in. Another approach would be to secure a rental now before you sell. By doing this it will take the stress out of finding a place to live after the sale and it allows you to take your time to find the perfect home. With most homes selling 10 to 15% over the listing price currently the extra money will more than cover the rental and allow you to have a larger down payment on your new home.
CONTACT ME WITH ANY QUESTIONS OR FOR DETAILED MARKET INFORMATION.