Tri-City Area and Real Estate Blog

The Tri-Cities housing market has been fortunate compared to other parts of the nation as far as the number of foreclosures that have occurred here, but some folks have had to sell their homes in a short sale situation. It’s taken more than a year, but the federal government’s short-sale rules took effect April 5. Lenders must now use standardized forms and time lines, and if they already participate in the government’s program for modifying loans of troubled borrowers, they’re limited in the restrictions they can impose when they process short sales. Fannie Mae and Freddie Mac are set to release their own versions of the rules, though they haven’t said when. When they do, most loans will apply (FHA-backed loans are the exception). For more, watch this video “Understanding Federal Short Sales Rules” at www.REALTOR.org/shortsales.

Here are the weekly real estate statistics for the Tri-Cities area. Read more http://www.distinctiveprop.com/files/files/4.27Stats.pdf

Community development, feeding seniors, creating affordable housing & first-time homebuyer assistance are all focus projects for the forthcoming $2.3 million in federal funds that will be awarded to the Tri-Cities. The Department of Housing & Urban Development Community Development Block Grants and HOME Investment Partnerships Program is where the funds will be coming from according to the Northwest HUD director. This year Kennewick will get $618,526, Pasco will get $667,834 and Richland will receive $294,548 in federal funds, which will allow individual agencies to apply for funding for projects. There are several agencies that will recieve funds, and in addition some money will go into city parks, affordable housing and community development. An additional $681,521 will be split among the three cities from the HOME Investment Partnerships Program, which will be used as down payment assistance programs to aid first-time homebuyers.

There are quite a few Tri-Citians who are serving in our nation’s military and we wanted folks to know that members of the military serving outside the U.S. have an extra year to buy a home and qualify for the first-time homebuyers tax credit.  See more here

Do remember the fervor of the Tri-City Americans when they first came to the Tri-Cities in 1988? Do you recall the two young men that became household names here in town? Well Stu Barnes and Olie Kolzig, both went on and became NHL superstars yet maintained homes here in the Tri-Cities during their careers. Wednesday marked the 5 year anniversary of their ownership in the Tri-City Americans – who are now vying for the Western League Championship for the 2nd time in 3 years, and they’ve also taken the U.S. Division Championship title three times.  These two outstanding men, their coaches and front office staff have built an outstanding team over the years, provided them with trainers and high quality facilities to train and practice in – and all of that care and concern for the players has created an outstanding Tri City Americans team, and in turn, the community has become a huge fan base. Hockey in the desert sounds kind of funny, but here in the Tri-Cities we love our Ams!  Good luck boys and show ‘em what you’re made of! We’re behind you 110%.

New laboratory building for PNNL in Richland have been built with green technology and materials, and that in turn has earned PNNL with a gold certification level from the Leadership in Energy and Environmental Design program. The Biological Sciences Facility and the adjoining Computational Sciences Facility were opened last fall and house about 300 employees. The materials used in the construction consisted of approximately 78% of recycled and because of the design concept that goes beyond standard building codes, there was a 35% savings on energy. Both of the buildings use heat to warm offices generated from the computer servers in the Computational Sciences Facility that would be wasted otherwise. The gold level certification is the 2nd highest status for the LEED program, and very few laboratories have reached that award level throughout the nation. PNNL deservedly should be proud of their accomplishment. Kudos to those green thinking individuals for their hard work and determination.