Spokane Real Estate Market Improving - Spokane, North Idaho News & Weather KHQ.com

Spokane Real Estate Market Improving

Posted: Updated:

SPOKANE, Wash. - During the recession it became increasingly difficult to take out a home loan. Now, here in Spokane, the real estate market is finally starting to pick back up thanks to low interest rates and high demand from new home buyers.

Marianne Guenther Bornhoft, a local realtor, said "It will be very interesting to see with loosening some credit issues for buyers in the past it's been pretty tight. We had such an issue a long time ago, the lending requirements were so tough, it's almost impossible for anyone unless you had a perfect credit score to buy something."

According to The Nation Association of Realtor's, total home sales last year were the highest they've been in five years and are expected to stay that way through this year as well. Right now the Obama administration is working to make more home loans available to buyers with lower credit scores. Realtor's we spoke with here in Spokane say this is already making a difference.

They say that within the last three to four weeks homes have been selling faster, leaving fewer left on the market. The realtor we spoke with said she personally listed her home last Saturday and by the next morning, she already had an offer. Nationally the average time a home spent up for sale in December was 73 days. Rob Higgins of The Association of Spokane Realtor's said "I would think it's an excellent time because the inventory is low and if you price your house right it should sell right away."

Marianne did tell KHQ that Real Estate is seasonal, when the weather gets better the market improves. We're also told the biggest factor in whether your home sells is where you price it, so, be sure to check comparable home prices in your area before you list it.

  • Most Popular StoriesMost Popular StoriesMore>>

  • PHOTOS: 10-year-old goldfish has surgery to remove tumor

    PHOTOS: 10-year-old goldfish has surgery to remove tumor

    Monday, September 15 2014 2:39 PM EDT2014-09-15 18:39:15 GMT
    KHQ.COM - You could say that George the Goldfish is one lucky fish. When George's owners who were reportedly "very attached to him," learned that George had a life-threatening tumor, instead of putting him down or waiting for nature to take its course, they opted for a life-saving operation to save little George's life.>>
    KHQ.COM - You could say that George the Goldfish is one lucky fish. When George's owners who were reportedly "very attached to him," learned that George had a life-threatening tumor, instead of putting him down or waiting for nature to take its course, they opted for a life-saving operation to save little George's life.
    >>
  • WATCH: Rarely seen 9/11 Budweiser commercial that aired only once

    WATCH: Rarely seen 9/11 Budweiser commercial that aired only once

    Thursday, September 11 2014 8:52 PM EDT2014-09-12 00:52:54 GMT
    KHQ.COM - This Budweiser commercial was produced after the September 11th terrorist attacks. However, it hasn't been widely seen because Budweiser only aired it once so as not to benefit financially from it - they just wanted to acknowledge the tragic event.>>
    KHQ.COM - This Budweiser commercial was produced after the September 11th terrorist attacks. However, it hasn't been widely seen because Budweiser only aired it once so as not to benefit financially from it - they just wanted to acknowledge the tragic event.>>
  • US: North Korea using U.S. detainees as political pawns

    US: North Korea using U.S. detainees as political pawns

    Monday, September 15 2014 3:06 PM EDT2014-09-15 19:06:56 GMT
    WASHINGTON (AP) - The U.S. says North Korea is using detained American citizens as political pawns, after a 24-year-old Californian man was sentenced to six years of hard labor there. Matthew Miller, of Bakersfield, was convicted Sunday of entering the country illegally to commit espionage.>>
    WASHINGTON (AP) - The U.S. says North Korea is using detained American citizens as political pawns, after a 24-year-old Californian man was sentenced to six years of hard labor there. Matthew Miller, of Bakersfield, was convicted Sunday of entering the country illegally to commit espionage.
    >>
  • Top Stories from KHQTop StoriesMore>>

  • Liberty Lake residents concerned by leak

    Liberty Lake residents concerned by leak

    Monday, September 15 2014 10:24 PM EDT2014-09-16 02:24:12 GMT
    SPOKANE, Wash. - Liberty Lake residents who live along I-90 could only sit and wait for about 19 hours as agencies at a weigh station along I-90 worked to contain a chemical leak.Some of those residents told KHQ they weren't aware there'd been a leak that started around 1:30 Sunday afternoon until late that night when they turned on the news.>>
    SPOKANE, Wash. - Liberty Lake residents who live along I-90 could only sit and wait for about 19 hours as agencies at a weigh station along I-90 worked to contain a chemical leak.Some of those residents told KHQ they weren't aware there'd been a leak that started around 1:30 Sunday afternoon until late that night when they turned on the news.>>
  • Trucks with hazardous material common on I-90

    Trucks with hazardous material common on I-90

    Monday, September 15 2014 10:22 PM EDT2014-09-16 02:22:05 GMT
    COEUR D'ALENE, Idaho - I-90 between Liberty Lake and Post Falls shut down for more about 19 hours while crews worked tirelessly on a chemical leak. Members with the Idaho State Police say situations like this don't happen very often, but trucks carrying hazardous material drive through Idaho and Washington everyday.>>
    COEUR D'ALENE, Idaho - I-90 between Liberty Lake and Post Falls shut down for more about 19 hours while crews worked tirelessly on a chemical leak. Members with the Idaho State Police say situations like this don't happen very often, but trucks carrying hazardous material drive through Idaho and Washington everyday.>>
  • Kootenai County HAZMAT Crews say chemical leak in Idaho would be manageable

    Kootenai County HAZMAT Crews say chemical leak in Idaho would be manageable

    Monday, September 15 2014 10:09 PM EDT2014-09-16 02:09:17 GMT
    COEUR D'ALENE, Idaho -  HAZMAT specialist Barry Sherman with Kootenai County Fire and Rescue points at an electronic device in a big orange box, he says it uses thermal imagery to identify gases and vapors."I may not know what the chemical is, but this will tell me if it's toxic or it's corrosive so then I know how to handle it," says Sherman.>>
    COEUR D'ALENE, Idaho -  HAZMAT specialist Barry Sherman with Kootenai County Fire and Rescue points at an electronic device in a big orange box, he says it uses thermal imagery to identify gases and vapors."I may not know what the chemical is, but this will tell me if it's toxic or it's corrosive so then I know how to handle it," says Sherman.>>