Two seemingly disparate facts tell the 2011 Tri-Cities real estate story.

#1 – Total sales for the year – 2,734, which is the second lowest total within the last ten years. (The lowest was 2,619 in 2002.)

#2 – Average Sales Price – $202,500, which is the highest average sales price our market has ever had.

Hmmmmmm…

So, even though fewer people purchased a home than in years past (lending restrictions were tightened, the national unemployment picture had some locals worried), the ones who DID buy a home spent more than in years past.

I said it several times, and it bears repeating: If you’re going to buy a larger home (which almost always translates to a higher price tag), do it NOW, while rates are low.  A $200,500 house purchased when rates are at 6%, (20% down, principal and interest only), will give you a monthly mortgage payment of $956.89. But at 4% interest, you spend only $763.23 — almost $200 a month in savings!

Demand was low last year, supply was steady, and prices went up.  That means appreciation for our market.  Any year with houses selling for more than the year before is a good year.  Also, when it’s a nice, solid appreciation of 2%, that’s very good news. It means the market isn’t getting ahead of itself and there isn’t runaway inflation happening.

Take a look at all the stats for yourself, and call me if you have any questions about any given graph.  And happy 2012!

Each Friday, I post a picture of a well-known Tri-Cities sight, but from a different perspective. Each picture will be something you’ve likely seen many, many times, if you live, or have lived here. However, I’ll take it from a slightly different angle or view than how you usually see it. If you have a guess as to the location, please leave it in the comments.

We had two important walk-throughs last week and the week before.  On the 11th, we met with the electrician to go over what we wanted, and where we wanted it.  I, personally, don’t have many electrical needs.  I just need the light to turn on when I hit the switch, the refrigerator to refrigerate, the oven to bake, the freezer to freeze, and the heat pump to heat/cool.  Oh, and my curling iron to work when I plug it in.

Matt, on the other hand, has enormous electrical needs.  He works from home, on his computer, and with lots of accompanying accessories (printer, scanner, stereo, TV, DVD, etc.).  Therefore he spent a great deal of time going over “amps” with the electrician.  After a freezing cold 45-minutes, everything was straightened out and we knew what was going where and how much power there would be.

Then, on the 17th, we walked through with Tim, the supervisor.  Tim invited us to take pictures before the drywall was installed, covering up all the tubes and wires and studs.  That way, if we wanted to make changes later, or even to hang items from the wall, we’d know exactly where a crucial wire or pipe would be, so we wouldn’t mess things up, and so things would be easier.  That was a very informative meeting, and we feel confident that what needs to be done has been done and we’re on to the next step.

I think the house is going to be closed off to non-worker access from this point on.  Almost everything that needed to be done outside has been completed, and now everything will be done inside.  They lock the doors so random passers-by (and future homeowners!) can’t traipse through and disturb the work.  Heavy sigh.

Welcome back!  Happy New Year to you and yours!

This post is about the selling aspect of buying a new house.  If you have an existing home, and are not incredibly wealthy, you’re going to have to sell the one home before you can buy the other.  That’s the position we’re in.

At the end of last year, we re-carpeted, re-floored, added new kitchen counter tops and a tile back splash, and painted the entire interior (read more about that here).  Matt and I ran around town the week between Christmas and New Year’s buying new towels and shower curtains and bedding and decorative accessories.  We took huge amounts of furniture to storage.  We bought fresh flowers (okay, Matt moved the furniture and I bought the fresh flowers!).  Finally, on Friday the 6th, we were ready.  I listed the house in the MLS and – boom!  We were live!

And nothing happened.  No calls, or texts, or vast hordes of inquiries.

It’s not that I honestly expected that to happen, but I had considered how fun it would be if it did happen.  My husband, when I would mention the knots in my stomach, or the bad dreams I kept having, reminded me he wasn’t worried.  He had confidence in his Realtor.  I, however, did not hold her in as high esteem.

Finally, after our first showing, I called the agent who had shown it to ask what his clients thought.  I always do this.  Some agents have an e-mail they auto-send when someone shows their listings, or they don’t bother getting feedback at all.  I like to call people to ask because the voice carries so much more information than simply the words used.  I tried to play it cool – I waited several hours, then asked in my “agent” voice what did his clients think of the house.  My heart was in my mouth!  I found it MATTERED to me, a great deal!  He said “they really liked it”.  Nothing negative, only good stuff.  Oh my gosh!  I was positively giddy!  What a relief!

Now, allow me to state this for the record to all my sellers…past, present and future…YOU ARE AMAZING!  To function and keep your house clean and not come unhinged at every minute of the day – you are rock stars, and I thank you for allowing me to help you sell your home. I had vastly underestimated the stress and low thrum of pressure hovering under the surface.

So, now there is nothing to do but wait for an offer.  And blog.  See you soon!

Oh, check out our house’s web site if you’d like – 5044blueheron.com.