At Home With Coldwell Banker Tomlinson - February 2023

thelonggameof LOVE

AfterlearninginourNovemberissue howthreeteen-agedresidentsofthe HuttonSettlement,ParkerRitzmann, KaleGreen,andRoxyFrederickisen establishedHopeCoffeeRoasters,severalreaders expressedamazementathowsuchathingcould happen"atanorphanage."Itisimportanttorealize, firstofall,thatHuttonSettlementisnotan orphanage,andinspiringtolearnwhytheworkof ourthreeyoungentrepreneursisnotextraordinary, but,infact,entirelyinkeepingwiththemethodsand goalsthattheyfoundatHutton.

WhilesomeresidentsatHuttonmaybe orphaned,manymoreareproductsofdysfunctional, oftenabusivehomes.Thoseresidentswhohave beenorphanedusuallyhavebeenrejectedbyhomes thathadadoptedthem.Asyoucanimagine,children whohaveundergonesuchexperiencesusually regardnewlivingsituations-oftentheadultworldin general-withdistrust,suspicionandfear.

Thevisionthatmanyofushave-rightlyor wrongly-oforphanageswouldofferlittleassurance tothesechildren.TheDickensianorphanage,withits

AFTER100YEARSSINCEITSFOUNDING, THEHUTTONSETTLEMENTISSTILL NURTURING,EDUCATINGANDCARINGFOR CHILDRENINNEED.

longrowsofmetalbedsliningthewallsofadreary, palegreendormitory,oroflongrowsofformicatoppedtablesstretchingthroughthelengthofanill-lit dininghallhavenothingtodowithHutton.Thevision ofLeviHutton,anorphanhimself,wasofaplacethat wouldreplacelonelinesswithcamaraderieand alienationwithunwavering,unquestioninglove.

Hutton'sinspirationwastoreplacedormitories withbedrooms,cafeteriaswithkitchens.Inshort,to providetheexperienceofclose,tight-knithomesand familiesthathisresidentshadalwayslacked.The HuttonSettlementcurrentlyhouses26children,ages 5-18infourcottages.Thereisadditionalhousing availabletoformerresidentsover18whohavehita hardpatchandneedsomesupporttogetbackontheir feet.Eachcottageisguidedbyfull-timeresident"house parents,"whoprovidetrust-basedparenting,assuring eachresident"I'mhereforyou,nomatterwhat."

Inadditiontotheirdailyhomeresponsibilities, everyresidenthasanopportunitytodoavarietyof workprojectsontheHutton320-acrecampus.This couldbegardeningedibleandsellablecrops,tending thetreefarm,skillbuildinginthewoodshop,or

learningtheirnewestventureofroastingcoffee.These experiencesresultinteamwork,mentorship,selfawareness,personalresponsibility,andoften,an entrepreneurialawakening,suchastheHOPECoffee enterprise.House-parentsandsupervisorsaskthe childrentwoquestionsthroughouttheirstay:"What makesyouhappy?"and"Wheredoyoubelonginthis world?"Theanswersguidethemtofindthe approachesmostlikelytoproducethebest outcomesforeachindividual.Iamsurethatwecan allthinkoftimeswhenthesimpleaskingofthese questionswouldhavehelpedusavoiddifficultiesin ourownlives,orinthoseofpeopleclosetous.

PermanentresidencyattheHuttonSettlement cannotextendpasttheageofeighteen,but,even whenresidentsgooutontheirown,thesupport remains.Untiltheyreachtheageof25,theyreceive weeklycallsfromaHuttonHouseParent,askinghow thingsaregoingandwhetherhelpisneeded.Aswe haveseen,iftheneedforhelpisserious,thereis alwaysawarmmealandabedavailableonthe Huttoncampus,alongwiththeclosepersonal supporttheyreliedonduringtheirtimeofresidency.

2023Real Estate Forecast

EXPERTINSIGHTONWHATTOEXPECTIN THETRANSITIONINGHOUSINGMARKET

DoctorLawrenceYun, ChiefEconomistfortheNationalAssociation ofRealtors,wasthekeynotespeakeratarecentconferenceofColdwell BankerTomlinsonBrokersinWashingtonandIdaho.AddressingusviaZoom fromWashingtonDC,Dr.Yunwasabletolaytoresttherumorthatourarea isoverpriced,andthatthe“bubble“isreadytopop.WhiletherealestatemarketsinSpokane andIdahoarecurrentlyexperiencingasubstantialdeclineinthenumberofsales,pricesare stable,withthemediansalespriceonlydecreasingby1.3%inJanuary.Inventory,however, is2.5timeswhatitwasatthebeginningof2022,whichaccountsforthelevelingoffofthe dramaticappreciationourregionhasexperiencedinthepastthreeyears.Thisisresultingin amorenormalmarket,onewhichalreadyallowsformorenegotiatingpowerforbuyers.

Dr.Yunstressedthebenefitforbuyersthathascomefromtherecentdeclinein interestratesfromabove7%toaround6%.Healsohighlightedthecontinuedinfluxof peopletothePacificNorthwest,creatingasteadylevelofdemandwhichwilleliminateany threatofasteepdeclineinprices.Furthermore,thisregionisexperiencingstrongerjob growththanmuchoftheU.S.TheSpokaneareaposteda1.8%gaininjobgrowthoverprecovidlevelsandIdaholedthenationwitha7%gainoverall.

Whileourrealestatemarketsaremoderating,Dr.Yunpointedoutthatthisisquite differentfromthedownturnof2007inseveralways.First,peopletodayhavestrongequity positionsintheirhomes,incontrasttothecrashof2008,inwhichnearly5%ofmortgages intheUSweresubjecttoforeclosure.Additionally,theinventoryoflistingsnationallyis currentlyabout1.1million+/-versus4million+/-in2007.Thebiggestdifferenceisthat, whileriskysubprimeloansaccountedformuchofthefinancingbackin2007,theyare virtuallynonexistentintoday’smarket.

Asthistrendcontinues,itcouldbeagoodopportunityforpotentialhomebuyersto takeadvantageofmoreinventoryandstabilizinginterestrates,andhomesellerstocapitalize ontheirequitypositions.Dr.Yun’sfinaltakewasthat,asinterestratesandpricesstabilize, wewillseetheemergenceofastronger,morebalanced,realestatemarketinourregion.

NOTES

ThisGuinnessBeefStewrecipeisfulloftender beef,heartyveggies,andarichtomatostout broth.InstantPotandCrock-Potoptionsincluded inthenotesbelow.

SlowCookerGuinnessBeefStew

Serves6-8

INGREDIENTS

•3tablespoonsoliveoil,divided

•3poundsbeefchuckroast,trimmedof excessfatandcutintobite-sizedpieces

•Fineseasaltandfreshly-crackedblackpepper

•1largewhiteoryellowonion,roughlydiced

•4clovesgarlic,pressedorminced

•1/4cupall-purposeflour

•1(12ounce)bottleGuinnessbeer

•4cupsgood-qualitybeefstock

INSTRUCTIONS

•3largecarrots,cutintobite-sizedpieces

•11/2poundsYukongoldpotatoes,cut intobite-sizedpieces

•3tablespoonstomatopaste

•1bayleaf

•2teaspoonsWorcestershiresauce

•1teaspoondriedthyme

•choppedfreshparsley,forgarnish

1.Combineallingredientsminustheflourinalargeslowcooker.

2.Coverandcookonlowfor6to8hours,oruntilthemeatiscompletelytender.Makea cornstarchslurryandstiritintothesimmeringbrothuntilitreachesyourdesiredlevelofthickness.

3.Discardthebayleaf.Tasteseasonthestewwithadditionalsaltandpepperasneeded,plus extraWorcestershireordriedthymeifdesired.

4.Servewarm,garnishedwithasprinkleoffreshparsleyifdesired,andenjoy!

D.R.HORTONDEVELOPMENTUNDERWAYINSPOKANEVALLEY

BYSEANNESS

Anewhousingdevelopmentistakingshapeinthe

32ndAvenueandStateroute27.

ThesiteisjustsouthoftheFairmount MemorialAssociation’sSouthPinesCemetery,on landitwaspreviouslygoingtooccupy.NamedElk MeadowsEstates,thisisthelatestandlargest

developmenttodateintheSpokaneValleyfrom nationalbuilderD.R.Horton.

TheTexasbasedhomebuilderplansfor morethan300homesiteseventually,withplans rangingfrom1,700to2,700squarefeet.Detailed pricingandfloorplaninformationwillbeavailable soon.

NewD.R.Hortonneighborhoodstypically haveoneormoremodelhomeforpotentialbuyers toview,aswellasanonsitesalescenter.Someof theneighborhoodamenitiesenvisionedforthis communityincludegreenspacesandpaved walkingpaths.

Thisisn’ttheonlynewdevelopmentbeing launchedthisyearbyD.R.HortonintheSpokane Valley.Theyhavealsostartedsellinghomesina newsmallerdevelopmentontheeast-sideofthe SpokaneValleyintheRiverWalkcommunity. LocatedjustNorthofEastIndianaAvenueand EastofNorthBarkerRoad,RockRiverEstates willhavesimilarsizedhomeplanstoElk Meadows,howeverthisdevelopmentwillonly consistof29homesites.

Ifyouhaveanyquestionsaboutorinterest ineitherofthesenewneighborhoods,reachoutto yourfavoriteColdwellBankerTomlinson REALTOR®today!

southSpokaneValleyneartheintersectionofEast

MarketInsights

ThehousingmarketinSpokane,Washington inDecember2022isdramaticallydifferentcompared toDecember2021.Thenumberofclosedsaleshas decreasedsignificantly,with383salesrecordedin December2022,comparedto714inDecember 2021.Thisindicatesareductionindemandresulting fromthesimultaneousrampingupofinterestrates andthegeneralinflationdoggingoureconomy.

Despitethedecreaseinsales,themedian closedpriceforDecember2022wasstillrelatively highat$380,000,thoughitisslightlylowerthanthe medianpriceof$390,000recordedinDecember 2021.Thus,themarketisstillcompetitive,with continueddemandforhigher-pricedhomes.

Intermsofinventory,thereisalargersupplyof homesavailableattheendofDecember2022,with 640unitsrepresentinga1.7monthsupply,compared tothe0.4monthsupplyrecordedattheendof December2021.Thisagainsignalsaslowdownin themarket,asalargerinventoryusuallymeansthatit takeslongertosellhomes.

Finally,thenumberofnewlistingsinDecember 2022was305,comparedtothe391newlistings recordedinDecember2021.Thisdecreasereflects theslowerpaceofthemarketandthereduced demandforhomesinthelowerpricecategories.

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