Windermere's New Construction

Spokane New Construction - 2008 Market Review

Windermere Real Estate New Construction Blog — Tue, 07 Apr 2009 08:58:00 GMT

Spokane New Construction News

New Construction Homes are starting to move again in Spokane. In March there were 52 new homes sold up from 39 in February.

If you are thinking about new construction now is the time to start hitting those Open Houses. Most developments are open during the week and also on the weekend. You can find Open Houses at windermerespokanevalley windermerespokane and windermere.com

CLICK HERE FOR THE 2008 MARKET REVIEW

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Spokane New Construction ~ Under Contract

Windermere Real Estate New Construction Blog — Thu, 05 Feb 2009 09:11:00 GMT

New Construction Data - Today

I want you to know what is happening in Spokane New Construction so I pulled some stats for you. As of today there are currently 69 new construction homes under contract in Spokane County. They range in asking price from $147,275 - $675,000 for an average listing price of $266,968. You can click above to see them.

New Construction Sold Since January 1, 2009

In addition to the 69 homes under contract there were 23 that closed in January. I know that doesn't seem like a lot. But for each one of those sold new construction homes our marketplace feels a heavy impact. READ MORE from a previous blog.

Total New Construction Sold in 2008

In 2008 the total number of new homes sold was 804 down from 1,245 in 2007. So, in 2008 there were around 67 new construction homes sold each month. I think that is fantastic. Much better than many would have guessed.

If you are thinking about purchasing new construction, I would encourage you to start looking now. Most developments are Open during the week and on the weekend. If you would like some help getting started let us know and we can help you!

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Spokane New Homes - Looking For A Great Buy!!

Windermere Real Estate New Construction Blog — Tue, 13 Jan 2009 13:58:00 GMT

WOW....we just returned from touring new listings this week and I have to say the new homes at PRASADA PLACE are amazing. Prasada Place is a brand new development in the Spokane Valley.

The fully furnished model home is available to see and they are Open daily from 11 am to 5 pm. This past weekend was the Grand Opening and they have some special incentives that you will want to take advantage of.

The model's floor plan is fantastic ~ A grand entry with high ceilings and open railing wrapping around the entry staircase up to the spacious loft on the second level.

Generously-sized bedrooms with large closets ( one of my favorite features ) a master suite with tiled soaking tub, raised vanity and sinks and an awesome kitchen with a large center island.

Here are some highlights of this development:

Prices ranging from the $180's to the $260's
Fully finished homes for under $100 per square foot
50% off all upgrades up to $10,000 for the first 4 homes sold this year
Award winning in-house-design by Viking Construction to help you personalize your new home to your lifestyle
An extensive list of included amenities
18 lots available

I think you will have a hard time finding comparable homes at this price in such a great location. We have marketed other Viking Homes at Sonata Springs, and Hunters Run, which is sold out ~ and and they tend to sell very quickly.

For more information, or to arrange a showing e mail us at valley@windermere.com

Photos courtesy of Mike Hollingworth of Northwest Photographics, LLC www.mchollingworth.com as provided to the Spokesman Review for the January 11th, 2009 real estate cover story on Prasada Place

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Spokane Real Estate ~ Opportunity Knocks

Windermere Real Estate New Construction Blog — Wed, 07 Jan 2009 10:10:00 GMT

Happy New Year

We've made it into 2009. What journey 2008 was...whew! My gut "usually a pretty reliable resource" tells me that 2009 is going to be a better year for all of you home buyers and home sellers out there.

Market Data

I'm still waiting for the Spokane Association of Realtors to publish December Market Data. As soon as I have it I will post it here. I did some preliminary research and it looks like there may have been more closed sales in December than November. I'm pretty sure you are just as interested as me to see where our average and median sales prices ended up. For the last several months we've stayed pretty close to $200,000 for the average sales price. I'm wondering if we've "hit the bottom" of our pricing decline.

Resources

I found a great piece from the National Association Of Home Builders that I am going to share with you here. This site has a great CONSUMER section that you may want to check out. I like this piece because it really summarizes the buying opportunities out there. It talks about tax advantages and also building wealth through home ownership. Take a peek and let me know what you think.

Concerns

My biggest concern is that some will miss out on this age of opportunity. I strongly encourage you to research our market. Talk to your Windermere agent. Get detailed information on neighborhoods you are interested in. I've heard all kinds of predictions about the real estate market in 2009. Take this time to research your timing. Here are some folks who have taken advantage of current market conditions.

Since I've misplaced my crystal ball, and cannot see into the future...we have to look at the facts. Our supply of homes is about the same as it was last year at this time. That means you have good options in choosing a home. Interest rates are phenomenal...in the low 5% range. Yes, you can get a mortgage. And, the snow started melting today!!

Cheers in the New Year!

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Spokane ~ Nothing Like A New Home!

Windermere Real Estate New Construction Blog — Thu, 11 Dec 2008 08:48:00 GMT

Memory Lane
I remember when my wife and I purchased our first "new home". Way back in 2000. Wow - have we made some changes to the home and property over the years!

First of all, the home was about halfway done when we first saw it...and get this ~ we were NOT interested in new construction. Ah, but love has a funny way of changing your mind. We fell in love with the floor plan, the neighborhood and the potential we had to make this home really ours!

We were able to "move some walls" to make some floor plan changes. Specifically, a larger archway from the entry to the, "then" dining room. Next we added windows in the kitchen, had the builder punch another archway/bar area into the living room and re-arrange cabinets. Since we did all this before the wiring, and plumbing was done..it was easy and did not cost any extra money.

I want to share with you the benefits of buying new construction. I never thought I would be in the market for new construction...but here I am 8 years later. And I'm quite happy! Hopefully you will enjoy my journey in creating our home, and maybe, it will inspire you to dream about your new home too.

Since Then...
Where do I begin. Let's go inside first. I think my wife has painted 1,000,000 times. And please note, all these changes have taken place over the last 8 years.

We finished the basement, affectionately referred to as the "Man Den". Although the laundry room is down there...so guess who gets to do the laundry in the "Man Den".

We installed a work bench and storage shelves in the garage...how come those are full and everything is on the floor?

We installed a new vinyl window in the master bedroom because we did not like the original...and then we added some custom made storage, book cases and bench.

Outside
We started with concrete curbing with small river rock in the landscape areas...we've planted trees, cut down trees and planted more trees. We removed the wood front entry steps and poured new concrete steps. We added a concrete patio in front of the home.

Now we have bark where the rock used to be.
My wife and her father built an awesome deck off of the original deck that was perfect for entertaining. Unfortunately we had to remove it for an addition.

First we had a chain link fence, then in partnership with neighbors...added vinyl. Last night we were looking through old pics with the chain link and it was fun to see how much our yard has changed.

I was even lucky enough to convince my wife I needed a putting green...so 5 or 6 years ago...we added that! You can kind of see it in this picture.

Two summers ago we added an addition to the home. It is kind of a family room, dining room, office area. Now that was a project! More square footage, a new bar so the kids have more room to sit, play, do homework...whatever! We kept all the kitchen appliances in the same location so the cost was not too bad. We hired professionals to do all the hard stuff and then my wife and neighbor installed new hardwood floors. Here she is installing the floors. New counter tops, a new cabinet and more paint! We even changed the tile around the fireplace and added tile to the entryway and basement landing. This past year we spent time doing some small landscaping projects, finishing trim in the addition and main floor and dreaming about what else we want to do. I think my wife's list is longer than mine :-)

New Construction
You may want to consider new construction if you are thinking of buying a home. You can create your dream home with time, planning and patience. It is fun and you are adding value to your home!

The first step is to just get started. Research areas you are interested in. Remember...you don't have to have everything perfect in your new home. You have time to create and finish the home the way you want. I mean, we've been working on this for 8 years! The best part is when your friends and family come over and share in the improvements you've made. By the way, the picture in the bottom right does not show the completed trim we had installed within the last year.

Currently there are some great opportunities to purchase new construction. You can browse all the new construction available in Spokane here on this site. You can search by price range or look at some featured developments.

Call or e mail if you would like more information on new construction in the Spokane Area.

Thank you for reading!

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No Snow ~ Go To An Open House

Windermere Real Estate New Construction Blog — Thu, 04 Dec 2008 08:38:00 GMT

Yesterday I posted HERE with some thoughts on OPEN HOUSES.

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Spokane ~ Does Your Home Tell A Story?

Windermere Real Estate New Construction Blog — Fri, 14 Nov 2008 10:47:00 GMT

Does Your Home Tell A Story?

Most of us have lots of memories of our home, whether we currently live in it or we remember the home(s) we've lived in. I have some amazing memories of my childhood home back in Hamilton, MT. I remember holidays, birthday parties, summer vacations, running down to the river to catch fiesty rainbow trout, crashing my bike, always getting along with my younger sister ( snicker ). Every time we go back to Hamilton, I just have to drive by my old home to see if the new owners have done anything with it. I also like to check out the neighbors and see what they have been up to! READ MORE

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Spokane ~ New Construction Data

Windermere Real Estate New Construction Blog — Mon, 10 Nov 2008 09:07:00 GMT

In Spokane there have been over 700 new construction homes sold through the end of October 2008. Through October of 2007 there had been 1,043 new construction homes sold. So, while we are "off" a bit from 2007 I'm still thrilled to see over 700 new construction homes sold year to date. That is a little over 70 new homes sold each month.

Here are some graphs showing new construction data for Spokane in 2008. The first shows inventory, sold homes and homes under contract.

This graph illustrates the price per square foot. I've heard several people say that Spokane's price per square foot is fantastic compared to other parts of the nation.

And finally months of inventory. Take a look at January 08...scary! We've come a long way since January. It is kind of hard to see on the graph below...the number for October 2008 is 7.0 months of inventory.

There are still some fantastic new construction buys out there. Contact a Realtor if you have a desire to see any of them.

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Welcome To Windermere New Construction

Windermere Real Estate New Construction Blog — Wed, 05 Nov 2008 08:46:00 GMT

Welcome to Windermere New Construction! It appeared to me that there really was not a good resource for buyers to use when searching for new construction in Spokane. With this site you will be able to find new developments and new construction homes with a few simple clicks. You will not have to sort through all the homes available for new construction.

I will be updating this blog with new construction stories and data. Please visit often and don't hesistate to ask questions.

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