The Sweet Spot for Sellers: Low Housing Inventory

Today's housing inventory remains significantly below average, which is excellent news if you're considering selling your house. Compared to more normal years, the current supply of available homes is significantly limited. While this may pose challenges for buyers, it presents a lucrative opportunity for sellers. In this blog post, we will explore the advantages of selling a house in a low inventory market and why now is an excellent time to consider putting your property on the market.   The Scarcity Factor With housing inventory still well below the levels seen in previous years, there is a scarcity of available homes in many areas. This scarcity drives up demand among prospective buyers and creates a sense of urgency. As a result, well-priced properties are attracting attention and often receive multiple offers. By selling in a low inventory market, sellers can capitalize on this scarcity factor and potentially secure a higher sale price.   Faster Sales One of the significant benefits of selling in a low inventory market is the speed at which homes are selling. With fewer options available, buyers have a narrower pool of homes to choose from. Consequently, properties that are priced right and well-maintained tend to attract immediate interest and can sell faster. This allows sellers to expedite the selling process and move on to their next chapter more swiftly.   Increased Buyer Competition Limited housing inventory places buyers in a competitive position, as they vie for the available properties. Multiple offers become more common, creating a favorable environment for sellers. When multiple buyers are interested, it can lead to a bidding war, driving up the sale price and potentially resulting in a higher profit for the seller. Taking advantage of the current market conditions can be financially rewarding for those looking to sell their homes.   Favorable Negotiating Power In a low inventory market, sellers typically have increased negotiating power. With limited options for buyers, sellers can often negotiate more favorable terms, such as a faster closing timeline or fewer contingencies. This increased leverage empowers sellers to navigate the transaction in a way that aligns with their preferences and timelines.   If you've been contemplating selling your house, the current real estate landscape offers an opportune moment. The persistently low housing inventory means that well-priced properties are in high demand, leading to quicker sales and the potential for multiple offers. By working with a trusted real estate agent, you can effectively navigate this unique market and maximize your chances of a successful sale. Don't miss out on this sweet spot for sellers – take advantage of the low housing inventory and start the process today. Contact a trusted real estate agent to discuss your options and capitalize on this favorable market condition.

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Top Five Gated Communities in Spokane Valley and Liberty Lake Area

  Finding a gated community in Spokane can be a challenge, as they are relatively uncommon in the area. However, if you prioritize security and exclusivity, there are a few gated communities worth considering in the Spokane Valley and Liberty Lake areas. In this blog post, we will explore the top five gated communities that offer privacy, amenities, and a range of home options for potential residents.   #1 Shelley Lake Located in the Spokane Valley, Shelley Lake is a small and private gated community surrounding a picturesque lake. With only 248 houses in the entire community, it offers a sense of exclusivity and security. The homes in Shelley Lake range from modest-sized three-bedroom, two-bath houses to larger, five-plus-bedroom family homes. The community is conveniently situated near Central Valley High School, providing easy access to recreational facilities and open spaces.   #2 Bella Vista Nestled in the back hills of Sullivan in the Spokane Valley, Bella Vista is a secluded gated neighborhood. While most of the neighborhood isn't gated, there is a section comprising 21 homes behind a gate, offering enhanced privacy and security. Bella Vista features a variety of home styles, with houses built in the late '90s and early 2000s. The neighborhood boasts a tranquil atmosphere and is known for its character and individuality.   #3 Whitetail Ridge Situated off 39th in the Spokane Valley, Whitetail Ridge offers a private and serene community environment. The neighborhood has two sections: an established area with around 13 homes built in the last decade, and an extension featuring 24 brand-new homes. What sets Whitetail Ridge apart is the opportunity to work with a community builder to customize your home. This neighborhood provides flexibility in design and offers homes ranging from $700,000 to $1.5 million.   #4 Legacy Ridge Legacy Ridge is one of the largest gated communities in the Liberty Lake area, offering a range of home options and stunning views. With approximately 455 houses and more under construction, Legacy Ridge provides diverse price points and styles. From affordable homes in the low $600,000 range to elite custom homes priced over $2.5 million, there is something for everyone. The community features amenities like hiking trails, a central park, and nearby golf courses.   #5 Trutina by Greenstone Trutina is a unique 55+ gated community located in North Liberty Lake. This vibrant community offers a variety of amenities, including a gym, pool, spa, and numerous classes, fostering a strong sense of community. The homes in Trutina are designed for simplicity, with smaller two or three-bedroom layouts. The neighborhood's prime location near the Centennial Trail provides residents with easy access to outdoor activities and beautiful surroundings.   While gated communities may be relatively rare in Spokane, the Spokane Valley and Liberty Lake areas offer several options for those seeking security and exclusivity. Whether you prefer a small, private lake community like Shelley Lake or a larger, amenity-rich neighborhood like Legacy Ridge, there is a gated community to suit your needs. Explore these top five gated communities and consider the advantages they offer in terms of privacy, convenience, and a strong sense of community.

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Expand Your Options: Discover the Bright Future of New Construction Homes

Are you currently in the midst of a home search, feeling the frustration of a limited supply of available homes for sale? You're not alone. The real estate market's busiest season is marked by a scarcity of existing homes. However, there's a silver lining – the thriving market for new construction homes. In this blog, we'll delve into the significant progress being made in new residential completions and explore how it can enhance your home-buying journey.   The Rise of New Home Construction: The graph showcasing new-home completions reveals a notable trend in the housing market. Leading up to the housing crash, builders exceeded the long-term average, resulting in an oversupply and declining home values. Subsequently, the level of new home construction decreased, leading to an inventory deficit that persists today. The current good news is that builders are now matching the long-term average, indicating an increase in newly built homes available for sale.   Momentum in Residential Starts and Permits: Residential starts represent homes where construction has officially commenced. Permits indicate homes where builders are planning to break ground soon. The upward trajectory of both these metrics signifies an encouraging sign of more newly built homes entering the market.   What Does it Mean for YOU as a Home Buyer: Expanding options: With more homes in various stages of construction, your pool of choices has grown. Quick move-in: Explore recently completed homes in your area for a timely relocation option. Customization opportunities: Consider homes still under construction, allowing you to personalize features and finishes according to your preferences. Tailored recommendations: Rely on the expertise of a trusted real estate professional who can guide you based on your unique needs and desired neighborhoods.   If you're struggling to find your ideal home amidst low inventory, it's time to turn your attention to new-home construction. The increasing number of newly built homes, as evidenced by residential completions, starts, and permits, offers a promising solution. Whether you're seeking immediate occupancy or the chance to customize a home to your liking, a knowledgeable real estate agent will be your invaluable resource. Reach out to an expert in your area to explore the exciting possibilities that new construction homes present and embark on a home-buying journey that matches your vision.

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