Tri-City Area and Real Estate Blog

The temperatures have been in the teens for the past few days.  This morning it was 16 degrees, but I didn’t have to scrape any ice of my vehicle so the air seems to be fairly dry.  However…..forecasters are saying there’s a likelihood of snow accumulation in the valleys of Eastern Washington.  

Two years ago, I came home from a long day at work to find my driveway running with water and a sheet of ice beneath.  As I clicked the garage door opener and watched the door rise, there was a cascade of water falling down across the white and blue checkerboard pattern, glistening in the light of the motion detectors.   A pipe, in the attic over the garage (un-insulated) burst when the temperatures were below freezing for several days.  With the low temps we experiencing here in the Tri Cities, I am making sure I am winter ready this year!   Are you? 

 Here are a few tips to stay safe and warm during snow and icy conditions.     

Let’s start with the most obvious…..Prevent Freezing Pipes!  Insulate your homes pipes with proper insulation or even newspapers and plastic and allow your faucets to drip a little during cold weather to prevent them from freezing. Even at a trickle of running water helps prevent frozen pipes. 

Be sure you know where your water shut off valve is located.

Avoid drafts and save on heating costs with a check of windows and doors.   How is the caulking and weather-stripping?  Does it need to be replaced?  Installing storm windows or cover your windows with plastic to keep heat in. 

Clean out rain gutters, repair leaky roofs and cut away tree branches that could fall on your house or outdoor buildings during a wind storm.

Be Safe: Avoid any fuel-burning equipment indoors.  Any fuel burning equipment should be vented to the outside.   If you are burning any fuel source, please keep a fire extinguisher close by.  A house fire can be devastating.

When driving, practice safety for you and your passengers.  Allow additional driving time so you are not rushing. 

Take it easy.  Slow your speed, braking and acceleration during your travels.  Don’t use the cruise control.

Don’t Tailgate.  The last thing you need to do is step on the brakes in the ice.  

Keep a blanket and some protein bars in the vehicle in the event of an emergency. 

 if you have any other tips to contribute, please comment below! 

HAVE A SAFE AND HAPPY JANUARY!

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Despite the Tri-City market slowing a little, some areas are competing more for buyers, due to the increase in listings, causing the prices to soften. We are still growing and prospering. We are selling between 285 to 300 homes a month for 2011. Inventory has increased the pressure on current prices.

The following is a computation from Tridec showing how well we are doing. With rates this low and prices competitive, this is a great time to buy. It is an ok time to sell, you just have to be realistic and look at your competition. If you do not have the desire to sell or the move is not worth the realistic price, if you are moving outside of this market area, then you should not sell. If you move up as a seller, within our market area, you will make up any difference and more in the move. Look at the silver lining this move will gain for you. Give me a call and I can explain it to you so you do not miss an opportunity in this market. ( The Tri-City market include: Kennewick, Richland, Pasco, W-Richland, Finnley.)

Tridec published the following information:

 POPULATION

                                                         2000 Census        2010 Census    2011 Estimate

Kennewick-Pasco-Richland      191,822………253,340……….258,400

 Kennewick                                      142,475……..175,177………177,400

Richland                                           38,708………..48,058………..49,090

West Richland                                   8,385………..11,811…………12,200

Franklin county                           49,347………..78,163………..80,500

Pasco                                                 32,066……….59,781………..61,000

WORKFORCE

Labor Force ……………………………138,100

Employment……………………………127,945

Unemployment………………………..10,155

Unemployment Rate……………………..7.4%

                         Composite Index……Housing …….Utilities…..Transportation

Tri-Cities, WA                       93.3             91.5              88.3                  104.3

Seattle, WA                            120.0          134.4            89.9                   112.4

Spokane, WA                          92.7             85.5             74.1                   101.6

Yakima, WA                              92.8           86.6             82.5                    100.6

Portland-Vancouver, OR-WA 111.1    123.6          91.6                    114.6

Oakland,CA                             137.9           198.6           98.3                   109.5

Reno, NV                                  96.1                90.3            92.1                    103.7

Washington REALTORS today endorsed Attorney General Rob McKenna in his 2012 bid for governor of the State of Washington.  The endorsement decision followed candidate interviews held today at the organization’s office in Olympia with a 17-member panel that included state officers, Realtors selected by local associations and representing every region of the state and a representative from the Washington State Commercial Association of Realtors.  The interview questions posed to both gubernatorial candidates, Attorney General McKenna and U.S. Rep. Jay Inslee, involved issues that impact the real estate industry, homeownership and our state’s economy.

Part 1 Overview

In Part 1 in these series of videos, Washington State Attorney General Rob McKenna gives an overview of the new law.

Here is a great video regarding information for Washington State homeowners on the Foreclosure Fairness Act Mediation Program.

Click the link below to view the video.

Washington Foreclosure Mediation Program

30-year fixed rate mortgage (FRM) averaged 4.22 percent with an average 0.7 point for the week ending September 1, 2011, matching the previous week when it also averaged 4.22 percent.  Last year at this time, the 30-year FRM averaged 4.32 percent.

15-year FRM this week averaged 3.39 percent with an average 0.6 point, down the previous week when it averaged 3.44 percent.  A year ago at this time, the 15-year FRM averaged 3.83 percent.

5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.96 percent this week, with an average 0.6 point, down from the previous week when it averaged 3.07 percent.  A year ago, the 5-year ARM averaged 3.54 percent.

1-year Treasury-indexed ARM averaged 2.89 percent this week with an average 0.6 point, down from the previous week when it averaged 2.93 percent.  At this time last year, the 1-year ARM averaged 3.50 percent.

With these rates at or near historic LOWS…it is the perfect time to buy your dream home.  If you are ready to buy, sell or relocate contact Distinctive Properties, Inc. today!

509.783.1431  |  800.510.1726  |  www.distinctiveprop.com