ISSUE 101
NEWSLETTER
MARCH 2020
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WITH COLDWELL BANKER TOMLINSON
Catholic Charities leading with ‘Housing First’ Approach to homelessness Article submitted by Catholic Charities
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or people experiencing homelessness in Spokane, there is no one-size-fits-all solution. Some people need shelter, others need help securing a steady income, and some need help overcoming addiction. But for so many people, the solution can be surprisingly simple: provide a home. This Housing First approach works by offering permanent, affordable housing to people experiencing homelessness and surrounding them with skilled staff and supportive services that people need to keep their housing and avoid returning to homelessness. Catholic Charities’ Haven apartments provide an off-ramp from homelessness to a wide range of our neighbors, from families with children to chronically homeless individuals who have been on the streets the longest. To see how and why Housing First works, take a look at Donna Hanson Haven (DHH), our apartments for chronically homeless individuals. The average length of time a tenant was homeless before moving in is 11.4 years. And 2 years later, 93% of tenants remain. Housing First succeeds because of the dedication of professionals who work in our buildings day and night to support our residents. Here’s what that looks like at DHH. • Property Managers: are responsible for the day-to-day management of the property, including maintenance oversight, tenant screening, leasing, rent collection, fiscal management, funder compliance reporting, complying with all Federal, State and local laws and regulations. PM Marty collaborates with the service staff
to help residents succeed in maintaining their residency. • Resident service coordinators (RSCs) arrange community activities and bring services onsite. RSC Jennifer gives residents the chance to build community in a safe environment. Residents get to know and trust Jennifer so they can ask her for help as they become ready to move forward in their lives. • Case managers support residents by identifying their housing and employment goals and overcoming barriers to achieving them. Depending on their area of expertise, case managers like Joshua and Ashtyn connect residents with social services, help them re-enter the workforce, or provide counseling mental health and substance use disorders. • Maintenance technicians keep DHH clean so residents can be proud of their homes. Bobby develops informal relationships with clients and provides a friendly face for them. He plays a key role in creating an environment where residents can make positive life changes. • Resident services meet the needs of the whole person, helping each client take the steps they need to achieve stability in their housing. One example is the Vet clinic at DHH. For many residents, their pets are their main companions. By keeping pets happy and healthy, DHH makes sure that residents are able to count on their four-legged family members for support and companionship! Home is Where the Heart Is.
Buyer Beware Relax! Article by Larry Lapidus, Realtor®
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rom the sign in the front yard to the eye-popping displays on the Internet, the role of a listing broker in marketing and selling a piece of property is well-known. Much less familiar to most of us are the functions, duties and responsibilities of a broker when he or she is committed to helping a buyer. Buyer’s Broker vs. Listing Broker: What’s the difference? Buyer’s brokers are legally bound to help buyers, whereas listing brokers—the real estate broker representing the home listing—have a fiduciary duty to the home seller. If you were getting sued, would you hire the same attorney as the person suing you? Of course not. You need someone who will diligently fight for your interests and rights. Some states, recognizing this problem, required a disclosure of dual agency when a broker represents both sides of a real estate transaction. However, you may still not be comfortable after signing an agreement saying you know someone is a dual agent. You might want to hire a broker who is not representing the owner, but who is looking out only for your best interests. • Find the right property. After determining what the clients are looking for and what they can afford, the broker will schedule appointments to tour homes that fit the bill. The broker can also explain the ins and outs of various builders, floorplans and locations. • Negotiate the offer. The buyer’s broker will advise clients on an appropriate price to offer and take the client through the complex paperwork that are required by today’s real estate offers.
• Recommend other professionals. A buyer’s broker should also be able to refer you to reliable mortgage lender, real estate attorneys, home inspectors, movers, and other real estate professionals. This can also help expedite each step of the process and move you to a successful real estate sale as quickly as possible, and with no nasty surprises. • Help overcome setbacks. If the home inspector’s report or appraisal brings new issues to light, a buyer’s broker can advise you on how to proceed with the transaction, and then act as a buffer between you and the sellers or their broker. If negotiations become heated, it’s helpful to have an experienced professional keeping calm and offering productive solutions. The Broker/Buyer Agreement Once you agree to work with someone, you may be asked to sign an “exclusive buyer agency agreement,” outlining the broker’s services and compensation (more on that next). In this agreement, the Broker commits to putting forth his/her best efforts to help the client secure the property they want, while the client agrees to use the services of that broker only, and to see to it that the broker is compensated. How much do Buyer’s Brokers cost? Home buyers usually don’t need to worry about the expense of hiring a buyer’s broker. Why? In most cases, the Buyer’s broker’s commission is paid at closing by the Seller.
Ingredients 6 Large Carrots 4 Turnips 3 Onions ½ Head of Celery ½ cup Chopped Sorrel (check Huckleberry’s) 4 oz. Butter 4 cups Chicken Broth Chervil, tarragon, salt and fresh ground pepper to taste
Directions
HOME RECIPES
History In Your Kitchen: Potage á la Croissy Avid viewers of the PBS series, “Victoria” hung on every highly charged word that passed between Queen Victoria’s chef, Charles Elmé Francatelli and her dresser, Nancy Skerrit. What they might not have known is that Mr. Francatelli actually became quite famous, not only as chef to the Queen, but as the author of the most popular cook book of Victoria’s reign: “The Modern Cook.” Despite its fancy name, this recipe from that book (slightly modernized) is a rather simple and very delicious soup that any one of us can make.
Chop all the vegetables and place them in a soup kettle along with 2 ozs. of butter and one cups of water. Cook until tender, stirring frequently, then puree in a food processor. Return the mixture to the kettle, add the chicken broth, and bring to a simmer. Add seasonings to taste. Serve with a garnish of parsley.
home systems: WATER WELLS, PRODUCTION AND STORAGE 5 GPM, it does not mean one is in imminent danger of running out of water. Most wells have a static water level above where the pump is placed. This ‘reservoir’ of water in the well column is available for pumping. This reservoir can range from a few gallons to several hundred or more depending on the static level, well depth and pump location.
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ost rural property owners rely on a well for their water source. Water well production in our area varies widely from being a ‘duster’ to what seems an endless supply of fresh water. Wells in our area tend to be average producers. However, many are considered low producers, but adequate for most households. Just because a well may be below average, let’s say below
How do well users combat low production? Many users install a storage tank (cistern) between the well and the home. Typically, about 1,000 gallons, the cistern system can provide high volumes of ‘on-demand’ water without having to rely on a low producing well for a high demand situation. The cistern system does require an additional pump which does the pumping from the cistern to the home. Higher producing wells do not need this additional storage; therefore, water would just be pumped directly to the home from the well. When installing or replacing a well pumping system, consider a variable frequency drive (VFD) system. These systems provide nearly constant volume and pressure while reducing pump cycling and increasing pump longevity. Article by Dale Smith, Realtor®
Coldwell Banker Tomlinson 4102 S Regal St, Suite 201 Spokane, WA 99223
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ISSUE 101 | MARCH 2020 ©2020 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
Active Listings
1,900
active listings
1,389
1,400
1,335
1,165 946 834
894
January February
*
961
Active Listings 20 20 (O ld System)
769
1,333
1,451
1,368
1,208
977
1,052 936
945 757
Active Listings 20 20 (New S ystem)
798
Active Listings 20 19 (O ld System)
452
457 400
1,083
924 880
841
1,428
1,460 1,460
1,219
1,018
900
1,559
1,466
1,422
This month, we step away from our use of up-arrows and down-arrows to indicate the state of the market to these charts, which may seem a little wonky, but which provide a more complete sense of how dramatically different the market is today from even the recent past.
Active Listings 20 19 (New system)
March
April
Average Sales Price
Active Listings 20 18
May
June
July
August September October November December
*Under the new system CTGI properties are now reported as PNDI whereas the old system CTGI was included in the Active status. The old system active listings are 1,559.
300,000 295,000
$298,337
290,000 285,000 280,000
$285,887
275,000 270,000
$289,395
$273,820
$260,469 $254,594
$287,985
$288,794
$279,749
$265,057
$260,812 $259,472
$268,828
$264,224
$264,046
$259,300
$255,850
245,000 240,000
$288,256
$289,308 $270,190
265,000 260,000 255,000 250,000
$285,189
$288,090
$237,544 $242,635
$231,497
235,000 230,000 225,000 220,000 215,000
$224,091 Average Sales Price (Closed) 2 020
210,000 205,000 200,000 195,000
596
average sales price
We have changed the way we report Active Listings to make the number more accurate, by removing contingent sales. Now, you see the number of houses and condos actually available for purchase. When there are only 452 properties for sale in all of Spokane County, what happens? Prices go up, that’s what! The average price was higher in February than at any time in 2018. Look, too, at what happened at the end of last year: prices went UP, which NEVER happens in December. To navigate a market like this, one needs a trusted advisor by one’s side!
Average Sales Price (Closed) 2 019
Article by Larry Lapidus, Realtor®
Average Sales Price (Closed) 2 018
January
February
March
April
May
June
July
August
September
October
November
December
CONTACT ME WITH ANY QUESTIONS OR FOR DETAILED MARKET INFORMATION.