Today we bring you some very good reasons to buy a new home in Spokane!
The homes for sale in the Pacific Northwest are ranging from 7 to 10.5 months on the market, so there are more home styles, locations, and price ranges to choose from right now. Make sure to check out all of your options when looking for your new home.
Lower mortgage rates afford you to get more house for your budget. With the 30 year fixed rate at an all-time low in 45 years, mortgage payments are able to stay reasonable without sacrificing the things you really want in your home.
The Pacific Northwest is well below the national average when it comes to foreclosure rates, Washington has seen one in 1072 homes foreclose compared to the national average of one in 617 homes. With the home values steadily appreciating in Washington (Spokane was up 9.3% in 2007), Oregon and Idaho, its still a sound investment to purchase a new home in our area.
So while the nation is looking at areas like Nevada, California and Florida, take the time to pay attention to our local real estate market. It's still thriving despite the scares caused by the national housing slump!
Reference: Why Now Is A Smart Time To Buy, John L. Scott Real Estate, January 2008
