ISSUE 119
NEWSLETTER
SEPTEMBER 2021
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WITH COLDWELL BANKER TOMLINSON
New Businesses emerging in Spokane In keeping with the theme introduced in the last issue of Spokane opening more to the world, here is some insight into the impact this sea-change has on the life of a Tomlinson agent who, as we all are, is exposed on a daily basis to the new challenges and opportunities created by our higher level of metropolitan development and the citizens of our city, whether or not they are currently involved in the real estate market. This agent keeps his eyes open for the appearance of new businesses, whether they emerge from within the Spokane community or are, as it were, delivered into our midst from afar. I love seeing the growth around the Spokane area. Here is a look at some of the new businesses that have either recently opened or are opening soon. Amazon Fulfillment center Amazon opened its 1.3 million square foot fulfillment center on 05 September 2021. This facility will bring 1,000 new full-time jobs to Spokane Valley. Along with the new Amazon fulfillment center, Amazon has plans to open a delivery station in 2022 at 11901 W. McFarlane Rd, which will supply a few hundred jobs and amazon plans to lease an air-cargo facility at Spokane International Airport. Lone Mountain Farms & Brewery This new brewery will be located at the corner of US 95 and Lancaster Rd on the north side of Hayden. But their story didn’t start there, Lone Mountain Brewery is a locally owned farm and brewery out in Athol, about 45 minutes from Spokane. If you haven’t had the chance to visit the farm in Athol, you should consider visiting. They have a beautiful outdoor patio where you sit right in front of where the hops are grown. Along with farm-craft beer they also sell farm grown product like stone-milled flour, farm-fresh eggs and produce. Lone Mountain recently began construction on a new tap room and restaurant in the Lancaster market
development. There is not an opening date yet. I know this isn’t in Spokane, but I thought it was worth a mention. I am looking forward to trying their 8 hand crated beers once it opens. Newly Renovated Offices on E. Sprague If your looking for new office space. You can check out the new office space in the building on 1722 E. Sprague. Located right under the newly renovated offices is a new furniture store, Bide & Burgeo and hopefully, eventually a coffee shop. On the second floor there is a total of 18 beautiful new offices. With plenty of natural light and gorgeous brick aesthetic. This space rents for $635 and up. If you are a small business or maybe an individual looking for a workplace located out of your home this office space would be perfect for you. Spokane Pizza co. The Spokane Pizza co that is in the old McKenzie River pizza location up north will be opening their second location in downtown Spokane where former Rocky Rococo was located. There is not a grand opening date yet but the directional signage downtown has already been updated to show Spokane Pizza Co. Article by Nathan Korta
Leaders in industry and innovation since 1906
T
here is no shortage of real estate websites. Some of them are very good, but our honest opinion is that nothing available to the citizens of Eastern Washington and Idaho beats what we offer at Coldwell Banker Tomlinson and its affiliates. The Internet platform we employ has been customized for us, and you, by Delta Media Group, the country's leading provider of real estate-focused online services. Whether you delight in exploring the statistical depths of our market, or simply eager to stay abreast of what property owners in your neighborhood are receiving for their homes, please take a minute to find out the benefits we can offer. Perhaps the chief attraction of the website we offer you is what it does NOT have: a hidden agenda. All nation-wide, commercial real estate sites are like People Magazine; they offer content they hope you will find interesting in order to attract your attention, either to sell that attention to advertisers, or record your choices in vast tranches of data that can be used in creating targeted advertising. We at Coldwell Banker Tomlinson have only one goal in mind, and it is no different from the one that motivates everything else we do: to establish ourselves as the source of the most reliable information and advice on matters relating to real estate available anywhere......period. The clarity, flexibility and accuracy you will find in using our website are the same qualities we bring to answering your questions and needs when the time comes to consider buying or selling property in our market. Another benefit we offer is the timeliness and accuracy of the information we provide. It is not purchased second-
hand or imported from national data retailers, but obtained directly from the authorized source of information about listings past and present: your local Multiple Listing Service, and refreshed on the quarter-hour. This eliminates the timewasting and dispiriting experience of getting passionate about a listing you have just discovered, only to learn from your agent that the darned thing went under contract last night. Sound familiar? It won't happen on our websites! If you want to be informed of activity over time in a specific segment of the market, you can do that by creating a Market Watch for yourself that will compile regular reports on all the listings that come on or go off the market and deliver it to your inbox. You can select any spot in our service area, or multiple spots, if you wish. It will show you both a summary of each listing and, if you wish, a wealth of detail about the listing itself and its market history. All of the powerful capabilities I have described are available on the company website at www.cbspokane.com. Many individual agents have installed the basic website on their own personal domain, where they have the ability to customize it to reflect their own interests, skills and talents. Some add advice about investing, or financing, or home repair, gardening or any other of the myriad subjects they have had to master in the course of their careers in real estate. Each agent is free to select the means of providing counsel that they feel best meet the needs of their clients, and your agent is the best source of information on how and where to look. Article by Larry Lapidus
HOME RECIPES Slow Cooker Tomato Basil Soup
Ingredients 56 ounces plum tomatoes (whole peeled, with basil) 15 ounces tomato sauce 11/2 cups vegetable broth 3 cloves garlic (minced) 1 onion (diced) 1 red bell pepper (diced) 2 tablespoons tomato paste 11/2 teaspoons dried oregano 1 teaspoon sugar 1/2 teaspoon kosher salt 1/2 teaspoon freshly ground pepper 1/3
cup heavy cream
1/3
cup fresh basil (chopped)
Instructions 1. Preheat oven to 375 degrees F. Lightly oil a baking sheet or coat with nonstick spray. 2. To make the Parmesan cheddar croutons, spread bread cubes in a single layer onto the prepared baking sheet; sprinkle with cheeses. Place into oven and bake until crisp and golden, about 10-12 minutes, stirring halfway; set aside and let cool. 3. Place tomatoes into a 6-qt slow cooker. Stir in tomato sauce, vegetable broth, garlic, onion, bell pepper, tomato paste, oregano, sugar, salt and pepper until well combined. Crush the tomatoes into chunks using the back of a spoon. 4. Cover and cook on low heat for 7-8 hours or high heat for 3-4 hours.
1 cup sharp cheddar cheese
5. Puree with an immersion blender until desired consistency is reached. Stir in heavy cream and basil; season with salt and pepper, to taste.
1/4 cup freshly grated Parmesan
6. Serve immediately with Parmesan cheddar croutons.
4 cups French bread cubes
Courtesy of Yummly
How To Prioritize Home Improvement Projects
W
hen looking at Spokane homes for sale, buyers often plan how they might fix up a home or make it their own. The right home improvements can go a long way towards making a home more livable and increasing its value. But as your list of home improvement projects grows, how do you decide which ones to tackle first? Here are some tips to help you prioritize your to-do list. Improve Function Before Looks Most home improvement projects can be placed into one of two categories. Either the project is aimed at improving the function of the home, or it's aimed at improving the appearance of the home. Painting your walls a different color, for example, is an appearance-based home improvement. Replacing a leaking window is a functionbased improvement. Tackling functional improvements before looks-based ones will help keep your home safe, secure, and resistant to additional damage. Do Small Projects First If your long to-do list is starting to intimidate you,
sometimes the best approach is to tackle the smallest, least-demanding projects first. This allows you to start crossing things off your list, which can jump-start your motivation and give you the drive to keep going. Also, consider breaking your big projects down into smaller projects. This helps make them more approachable. For example, instead of writing down "paint all rooms," you could write down, separately, "paint the bedroom," "paint the kitchen," and "paint the bathroom." Consider ROI ROI stands for "return on investment." This is something that real estate agents think about a lot when talking about home improvements with clients. If you are considering moving any time soon, you want to tackle the projects with the largest ROI first. This will help you earn more when you sell your home. For instance, replacing leaky windows generally comes with a great ROI, whereas adding shelves to the laundry room may not. Contributed by Delta Media Group
Coldwell Banker Tomlinson 4102 S Regal St, Suite 201 Spokane, WA 99223
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ISSUE 119 | SEPTEMBER 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 & Coeur d'alene REAL ESTATE MARKET STATISTICS AUGUST 2021 snapshots Spokane County
Coeur d'Alene
Average Sales Price
Median Sales Price
Average Sales Price
Median Sales Price
$425K
$390K
$654K
$530K
Up 26.7%
Up 23%
Up 32.8%
Up 38.2%
Current Listing Inventory
Average Days On Market
Current Listing Inventory
Average Days On Market
408
9
716
73
Down 3.2%
Down 52.3%
Down 32.6%
Down 14.2%
Closed Sales
Annual Residential Sales
Closed Sales
Annual Residential Sales
710
5,192
421
3,070
Down 3.4%
Up 3.4%
Down 25%
Down 0.7%
August 2021, as compared to August 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.
Could it be that our runaway market has reached, if not a brick wall, at least a sign reading “Slow: Traffic Revision Ahead?” There is more than one reason to think so. After increasing 5% in the month of August, 2020, Spokane’s Median Sales Price decreased during the same month of this year by 1.6%. That’s a one month adjustment of 6.6%. This likely reflects the fact that, while Active Listings rose very slightly last August (barely 1%), they ballooned last month by 15%, while Closed Sales in August were 10% lower than they were in July. It doesn’t take a Ph.D. in Economics to see that, when supply increases sharply while demand declines, and this happens after two years in which quite the opposite conditions have prevailed, the market may be preparing to enter a reduced speed zone.
August 2021, as compared to August 2020. The information in this report is compiled from a report given by the Coeur d’Alene Association of REALTORS® and to the best of our knowledge is accurate and current.
CONTACT ME WITH ANY QUESTIONS OR FOR DETAILED MARKET INFORMATION.