Charming Craftsman in South Hill

  Looking for a perfect blend of classic charm and modern amenities on the South Hill? This stunning craftsman home at 707 East 32nd has it all! Let's dive into this exceptional property and see why it stands out.   As you enter, to the left is a spacious dining room that can comfortably accommodate a table for eight or more. There's a cozy window nook, perfect for adding a bench or extra seating. This area is ideal for hosting large gatherings and family dinners.   Living Room Next, we move into a grand living room with a wood-burning fireplace and a TV mount. This room offers versatile seating options, with plenty of space for an L-shaped couch and additional sitting nooks. It's a fantastic space for entertaining guests or relaxing with family.   Kitchen The kitchen is a highlight with its expansive layout, featuring a gas stove, ample cabinet space, and stainless steel appliances. There's a dining nook perfect for casual meals and an additional pantry behind the refrigerator for extra storage. The large windows provide a beautiful view of the back deck, making it a great spot to enjoy your morning coffee or watch the seasons change.   Secondary Bedroom Around the corner, you'll find the first bedroom on the main floor, spacious and featuring its own heating and cooling system. It's perfect as a guest room or secondary bedroom.   Primary Bedroom The primary bedroom on the main floor is conveniently located off a hallway that also features the main bathroom and laundry room. The bathroom includes a walk-in tile shower with unique lighting features, adding a touch of luxury.   Backyard and Neighborhood The backyard is gorgeous, and the property includes a one-car garage. Located half a block from Thomas Hammer, you’re also close to popular community spots like Bottle Bay Brewing, Republic Pie Pizza, and more. Super One Foods, one of the best grocery stores on the South Hill, is just a block away.   This home, with its modern amenities and convenient location, is a fantastic find for under $500,000 on the South Hill. If you're interested in this house or want more information, you can find a link below or feel free to call, text, or email me anytime. We bring new listings to the market every week and have many off-market opportunities available. Let's find your perfect home!

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Affordable Neighborhoods in Spokane

If you find home prices in Spokane too high, you're not alone. Let's explore some of the most affordable neighborhoods in Spokane that offer walkability, community feel, and potential for appreciation. A viewer recently asked for a list of up-and-coming neighborhoods in Spokane, particularly for first-time buyers looking for low prices, walkability, and a community feel, not too far from downtown. They also wanted areas with potential for appreciation or gentrification. Let's dive into my top five affordable neighborhoods in Spokane, focusing on homes under $350,000. If you're looking for a single-family home, expect to start around $250,000 for a potentially livable property. Finding homes below this price point is rare. This guide focuses on neighborhoods within the $250,000 to $350,000 range, which is the affordable starter price point in Spokane.   Logan Logan is a neighborhood close to downtown Spokane, offering a blend of student housing and family homes. It has a vibrant feel due to its proximity to Gonzaga University. Features: Walkability: The geography is flat, making it easy to bike or walk. You can easily reach downtown, Gonzaga campus, and the Centennial Trail. Amenities: Hamilton Street offers a variety of small businesses, restaurants, and coffee shops. Market Snapshot: The average home price is $304,000, making it accessible for first-time buyers. West Central West Central includes Kendall Yards, a modern area with small businesses and townhomes. It's flat and bike-friendly, close to downtown. Features: Walkability: Easy access to Kendall Yards and the Centennial Trail. Perfect for those who work downtown. Community: Offers a mix of modern townhomes and affordable single-family homes. Market Snapshot: Despite some discrepancies in data, expect average prices around $308,000. Hillyard Hillyard has a mix of commercial and residential properties. It's known for its affordability and is seeing positive growth. Features: Development: Some of Spokane's best restaurants and small businesses are located here, contributing to its revitalization. Accessibility: The new freeway brings more traffic and potential customers to local businesses. Market Snapshot: It's an affordable neighborhood with significant potential for appreciation. Emerson Garfield and North Town (Garland District) These neighborhoods are close to the Garland District, known for its walkability and small businesses. Features: Walkability: Highly walkable with restaurants, breweries, coffee shops, and boutiques. Community: Active summer farmer's market and vibrant community activities. Market Snapshot: Average prices in Emerson Garfield are around $305,000, and in North Town, around $340,000. These neighborhoods offer affordability, community feel, and potential for growth. If you have specific needs or want to explore more, feel free to reach out. Let's discuss your situation, explore neighborhoods, and find the perfect home for you in Spokane.

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Why is it So Hard to Buy a Home in Spokane?

  Feeling like it's impossible to buy a home in Spokane, Washington? You're not alone. Let's break down the numbers to understand why and explore some potential relief in the future.   Economic Overview In 2021, home prices were already high, but the situation has only worsened. According to economist Matthew Gardner, the annual income required to afford a home has significantly increased from 2021 to 2024, exacerbated by rising interest rates. Supply and Demand Issues The primary reason prices haven't dropped is due to supply and demand. There's a low supply of housing despite high demand. Even with high prices and interest rates, buyers are still active. Well-priced, desirable homes sell quickly, while others languish on the market. Current Market Conditions For those ready to buy, this could be an opportune time. There's less competition, and sellers are more willing to negotiate. This dynamic may change if interest rates drop, bringing more buyers into the market and potentially driving prices up again.   Home Price Trends In Q1 2021, the average home price in Spokane was $350,000. By 2022, it rose to $425,000. Despite a temporary drop to $407,000 in 2023, prices have rebounded to $426,000 in 2024. While prices have stabilized, interest rates have nearly tripled, making homes less affordable. Increased Costs Higher home prices mean higher down payments and closing costs. Additionally, the cost of maintaining a home has risen. From 2021 to 2024, the average monthly cost for maintaining a home increased from $565 to $686. Principal and Interest Payments In 2021, the average monthly mortgage payment was $1,400. By 2024, this has increased to $2,230, largely due to higher interest rates. Other costs, such as property insurance and taxes, have also risen, making homeownership even more expensive.   Income Requirements In 2021, an average income of $76,000 was sufficient to afford a home. By 2024, this figure has jumped to $130,000. This assumes 31% of income goes towards housing payments and 12% towards other debts, resulting in a 43% debt-to-income ratio. Future Projections While interest rates might drop, leading to increased affordability, home prices are expected to remain relatively flat. The hope is for a more balanced market, but drastic price reductions are unlikely. Strategies for Potential Buyers To afford a home in this market, potential buyers need to save more, reduce debt, and explore grant opportunities for down payments. Reach out to local nonprofits and credit unions for assistance.   Buying a home in Spokane is challenging, but understanding the market dynamics can help you navigate these difficulties. Prepare financially and stay informed to increase your chances of finding the right home.

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