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Tri-Cities is Lucky Number 13 in Nationwide Real Estate Appreciation

By in Tri-Cities Housing Market with 2 Comments

According to MSNMoney, the Tri-Cities ranked thirteenth in an evaluation of 292 markets.  Many areas of the country have experienced depreciation in home values.  Not here!  In the 3rd quarter of ’08, we saw an almost 1% increase in price appreciation – in the last year we experienced a 4.11% hike, and over the last 5 years, we enjoyed a 20.5% improvement in home values.  If you bought your home before ’03, you’re loving life right about now!

We bought our home in 1998 for just over $100,000.00  If we were to sell it today, we’d probably get between $150k-$160k.  That means we’re just above the curve of 4% annual appreciation.

The market here continues to move along nicely, without a crazy boom/bust cycle.  As Aesop said, “Slow and steady wins the race.”

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About The Author
Cari McGee

My husband and I came to the Tri-Cities in 1994, and we thought it would be a temporary stop on our way to larger cities. He was a television sports anchor at the time, and we planned to go wherever the "next step up" took us. Twenty-plus years later, we're still here and we've loved every minute of it! We have two children now, and we've found the Tri-Cities area is a wonderful place to raise a family. It's a great place to do outdoorsy things -- I like to hike Badger Mountain or run along the river path. I also love reading ... by a cozy fire in the winter or a beautiful picture window in the summer (with the A/C on!). I've been a licensed Realtor since 2004. I earned my managing broker's license in 2016, which means I can run my own brokerage, or create a team of real estate agents and supervise them, which is exactly what I did when I formed the Cari McGee Real Estate Team in 2018! We have administrative and marketing personnel, as well as additional agents to serve you. I became a director of the Tri-Cities Association of Realtors Board of Directors in 2016, became Secretary/Treasurer of the organization, and was elected to Vice President in 2019. Want to talk about real estate? Click here to schedule a meeting with me!

2 Comments

  1. Di Kawell says:

    Hi Cari – Looks like you are very fortunate in Tri-Cities with the appreciation being ‘slow and steady’ – Who are the major employers in your area?

  2. Cari McGee says:

    Hi, Di – thanks for stopping by the blog! Hanford (the nuclear plant in Richland) and associated businesses provide most of the jobs in the area. We haven’t always been so lucky with the appreciation, though. For many years, the Tri-Cities suffered through market vagaries due to government funding, or lack thereof. There was a newspaper headline in 1982, I think, parodying the Seattle billboards back in the era of the Boeing bust – “Will The Last Person to Leave the Tri-Cities Turn Out the Lights?” The theory is that we have diversified enough now that when the clean-up work is eventually complete, we won’t become a ghost town, as we threatened to do all those years ago.

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