Tri-City Area and Real Estate Blog

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.

A Florida man who has family here in Pasco is taking the steps to further a proposal of a 27 acre water park located in West Pasco. He is moving forward and talking with Pasco officials about building the water with slides, a wave pool, swimming pool, surf pool, and family fun center along Sandifur Parkway.

His plans also go as far as adding a go-kart track and picnic park near the Broadmoor Outlet Mall as well.  Some proposals he has submitted are outside of current standards for the area and will need to be covered at the public hearing at 7 pm thursday 1/21 at Pasco City Hall.  If you have interest or opposition to this proposed water park, attend the meeting at the Council Chambers.