If you have an interest in the real estate market here in the Tri-Cities and surrounding areas, please take a look at our weekly statistics for this week.
http://www.distinctiveprop.com/files/files/6.21.2010Stats.pdf
The Kennewick-based company, TiSport, is making a move to Pasco soon and will occupy the former Food Pavillion off Court Street. TiSport is a company that manufactures titanium athletic equipment and titanium wheelchairs. The company is a spin-off from Sandvik Metals, has about 120 employees, and are currently are housed at the Port of Kennewick Oak Street Industrial park; however, they are cramped for room and this new facility will afford them about 67,000 square feet which is 27,000 more than their current location.
We’ve certainly had our fair share of rain this spring, in fact, more than our share in the opinion of most Tri-Citians. This spring has brought us weather we aren’t used to, mainly the wet stuff, and with that rain come the headaches that hay farmers and orchardists would rather avoid. In the wee hours of the morning of late, this writer has heard the low chop-chop-chop of helicopters flying above the orchards in an attempt to dry the rain from their crop of cherries. If the water sits too long, the sun comes out and the temperature warms up – the dreaded split occurs and there goes the profit. The hay growers in Franklin County lost more than 70% of the 1st cutting lost to rot and asparagus farmers have been affected as well. Unfortunately, Mid-Columbia farmers have experienced these weather-related losses and thus the visit from the state’s top agricultural chief to determine the need for federal disaster funds. Growers have asked Dan Newhouse, Washington Department of Agriculture Secretary, to visits farms from Franklin to Walla Walla Counties to assess the damage with hopes of receiving federal compensation for the losses.
In this day and age when money it tight and people are watching their expenses , Radio Host Dave Ramsey has become a ‘guru’ expousing logical reasons to payoff debt, using a budget, and continually gives on investments and the best deal for your money. His Financial Peace University classes are a must for anyone struggling with debt, just starting out or simply trying to make their money stretch. So here is a reprint of the question asked above – Is it better to find a real estate agent - or go it alone?
Bogert Aviation is the new hero to four CBC students by donating $9,000 to help the students compete in a national Skills USA competition. The competition is scheduled for June 20-26 and is geared towards automated manufacturing technology and its a teamwork project.
Owner Richard Bogert has hired several CBC students over the years and has been very pleased with the quality of his employees. He felt it was time to give back to the CBC program that gave him such qualified employees.
Rob Walker, the instructor of CBC’s Machine Technology program indicates that a name change is due for the program, from Machine Technology to Manufacturing Technology because of the level of skills that consist in the program more accurately fit into the manufacuring fields.
Once again the Tri-Cities has resisted the downward trend of property values across the nation, and finds itself in contrast with rising property valuations. Franklin County has been the fastest growing county in the state for the last two years and also one of the fastest growing in the nation. Officials in Franklin County expect values to continue to rise at an average of 3-4 percent as they prepare to mail out revaluation notices within the next month. Benton County anticipates remaining at the current level.
Many other communities within our state are facing devaluation at a significant rate which in turn decreases their tax base. For many its been decades since they’ve lost ground in property valuations. According to a recent market survey in the Tri-Cities, the first quarter of 2010 shows that the median residential resale price encompassing the bicounty area is $176,600, thus being an almost 6 percent increase over the entire year of 2008.
Franklin County continues to see it’s main increase in values due to the development of West Pasco and some large farms. Meanwhile, there are some pockets of decrease in the county, mostly around the Connell area because of unspecified market conditions there.
Much of the success of the Tri-Cities’ ability to remain strong, is due to the stimulus money that came into the Hanford cleanup projects, however, many individuals and organizations have worked diligently to diversify our community so that not all economic strength comes from strictly the Hanford area, but instead comes from growth in agricultural, food processing, and tourism dollars. They have been very successful in their endeavors which in turn have created the economic stability that the Tri-Cities and surrounding communities enjoy today.
