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Looking to buy a home? The time is now say realtors

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by KREM.com

krem.com

Posted on February 6, 2010 at 7:49 PM

SPOKANE -- Several real estate agencies in Spokane are saying if there was ever a time to buy a home, it's now.  Agents say there appears to be just as many homes in Spokane on the market compared to this time last year.  The difference this year is many more of those homes are selling.

Helen Hubble closed on her first home last November after looking at more than 30 in Spokane.

"The tax credit was a nice incentive, because knowing you are going to get $8,000 back, it made it more realistic that you could do the things you wanted to do and you could fix up things," said Hubble.

Kara DeBill, a realtor with Windermere, helped Hubble find her home.  DeBill says currently, there are approximately 2,600 listings in the Spokane area compared to this time last year.  But the first home buyer tax credit of $8,000 has allowed for more sales so far in 2010 along with interest rates that are at an historic low.

Bob Tomlinson has been in real estate for 42 years.  He is the CEO of Tomlinson Realtors which recently partnered with Caldwell Banker.  Tomlinson says the government incentives in forms of tax credits, tax reductions, and a large number of homes for sale in Spokane has made this a buyers market.

Homes that are selling the most are those priced under $200,000.  That is typically the price range for first time home buyers.

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Comments: Displaying 1 - 15 of 16

pac_nw_nav said on February 8, 2010 at 12:40 PM

Spokanepam. Your February 7, 2010 at 10:33 AM post is so far off the mark that it's truly laughable. The causes of the housing market collapse are far more complex than you suggest and the blame lies at the feet of both political parties. Besides, I would never do business with a realtor or anyone else who tried to inject his or her political views into the conversation. I suggest you drop your shovel and stop digging immediately. I'm sure your broker would appreciate it.

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spokanepam said on February 8, 2010 at 8:03 AM

Oh, and only after 90 hours of classroom, a 4 hour state mandated test, 30 more hours of Practice Class, Felony Back-round check and finger printing you can become a Realtor. You are required yearly to take extended education classes which includes Core Classes and Code of Ethics Classes to maintain your license. Again, your lack of knowledge abounds. What is it you have against Real Estate Agents? While you see them as 'greedy' in the black box, they are merely working to sell their client's home. This conversation has become one of a teacher vs a Neanderthal, so, sorry, gotta run.......

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spokanepam said on February 7, 2010 at 11:21 PM

dickcheneyrocks and tobyjones, read my post again please. My previous post states that 'connections (acorn) to this (now) administration'…… forced lenders to fulfill a 25/75 quota of sub-prime loans, which resulted in the defaults that unraveled the market 3 years ago, (not 4). I am well educated and well-informed in market statistics and drivers. Obvious by my first post when I stated that 'this' is just another Spokane market", the result of 'a perfect storm'. I work hard for my cliental excecuting 25 pages of contracts minimum, and would not dream of throwing incoherent disrespectful slander on you or your profession as you did me. By NOT reading my previous posts you have made yourselves look bad-mannered, uneducated and immature.

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tobyjones said on February 7, 2010 at 9:09 PM

see that is the think realtors know NOTHING about the economics that drive their business. They know what happened yesterday and last year but don't even have a clue about tomorrow. The barriers to entry to becoming a real estate agent are so low that anyone who can drive a truck, cut hair or stock shelves (not to demean any of those productive professions) has what it takes to show houses.

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dickcheneyrocks said on February 7, 2010 at 5:46 PM

Spokanepam - isn't this NOT the place to be advertising your business??? And are you seriously going to say with a straight face that the current administration got us into this mess WHEN THE MARKET STARTED TO CRASH 4 YEARS AGO???? Your lack of knowledge and rational thought is incredible. I don't think I would be advertising my business after making such statements.

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blink_star27 said on February 7, 2010 at 12:31 PM

Westy-if you owed 500$ you would then get back 7500. I am in the process of buying and have already had this exact same discussion with my Lendor.

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whatsyurbeef said on February 7, 2010 at 12:25 PM

Buy low, sell high, no commission sell yourself, pay approx. 3percent max. total fees. If I can do it anyone can, unless your a meathead.

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spokanepam said on February 7, 2010 at 11:33 AM

joecartwright3, it was a connection to the present administration who decided ALL people should own homes: all people included people with 400 credit scores, self centered people who spent what they didn't make on what they wanted instead off what they needed. It is the same administration who is now encouraging people with $10k or more on credit cards to go back to the people they committed to borrow money from and tell them, "thanks foe' ma' stuff' but gvt says I don' haf ta pay for it now'. Who in their 'right' minds has $10k on credit cards? In more than a decade of being a Spokane Realtor I've only had 3 clients lose their homes to foreclosure because I work with integrity. Compared to a market with 18% interest - NOW is a great time to own a home, so don't let your biases keep you in a rental.

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joecartwright3 said on February 7, 2010 at 9:34 AM

I watch these greedy people on that little black box any chance I obtain and I believe that now is not a good time to buy a home. The housing crunch on these over priced homes has only began. We have to remember that the former system was based on a lie and you cannot base it on a lie and expect it to last. It will never again be as good as it was! Never forget gravity, what goes up, must come down! If you wait, the values will plunge even further meaning good news for the working class! Always remember to read the microscopic print. If it sounds too good, it's probably a lie! And that, is just what the bankers did, due to lack of regulations! Also, remember that prices will not climb much higher so don't expect big profits. This is a poor region and we do not have the wage for it here!

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tobyjones said on February 7, 2010 at 9:07 AM

buy low sell high -10% for commission fees and taxes.

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tobyjones said on February 7, 2010 at 9:05 AM

Thanks for the news flash KREM. Having spoken to a few realtors. Were you aware that last week was actually the best time to buy? last month was also very good. 6 months ago was a great time as well. Realtors have no crediability anymore. The housing mess isn't over.

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spokanepam said on February 7, 2010 at 8:34 AM

Realtor here - this just another Market. When the prices are soft, the seller pays less to sell their home, less title fees, less excise tax and they pay less for the home they are going into, less down payment, less closing costs. When the market is UP, they sell their home for more, pay more to sell their home, more going into a new home, more in closing costs, more in down payment. Up or Soft - it's a wash! I work in Spokane because we don't have the highs and lows of the rest of the country - we have fabulous homes on the market! I work old 1900 Victorians, Craftsman, Traditionals one day, 50's Ranchers, ranch ramblers the next, and modern eclectic the next day. What a GREAT place to not get bored! Call me at Windermere Cornerstone. Think it through - it's not a 'buyers' market OR a seller's market - it's a Spokane Market!!!

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user_name said on February 7, 2010 at 2:47 AM

Newsflash: several car salesmen are saying that if there was ever a time to buy a car, it's now! KREM, do us a favor and do a follow up story to this. Call some local realtors and ask them if now is a good time to sell your house. I have a feeling I know what the answer will be.

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westy said on February 6, 2010 at 11:18 PM

A tax credit is right off the taxes you OWE. If you owe $600 in taxes to IRS..you don't get $7200. in cash back from IRS.....

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shemp said on February 6, 2010 at 8:57 PM

At what time did anyone ever hear a realtor state it wasn't a good time to purchase? For an objective opinion from a realtor I suggest the website Newobservations.net.

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whatsyurbeef said on February 6, 2010 at 8:31 PM

Buy low, sell high.

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