Hey everybody!  Well it's the New Year.  Welcome to 2008! 

 

The amazing thing is that there were actually real esate agents in the office yesterday!  My struggle with December was as just as real again this year.  Nobody seems to want to work.  But come January 1 we all shake off the previous year and the Holiday lethargy to get busy listing and selling homes.  The phones are ringing, offers are coming in and agents seem happier.  I love the New Year. 

 

Below is some current information on Mortgage Rates - BELOW 6% TODAY!  And a graph of Spokane's residential home inventory, pendings and closed sales.  As you can see our inventory climbed a bit in the summer months and then started to decline heading into winter.  Not too surprising.  What will the trend be for real estate in Spokane for 2008?  Not sure, but most analysts feel our prices will stabilize and we should have a pretty solid year.  As far as I'm concerned...the phones are ringing and agents are out showing homes.  To me, that is a great sign that we have started a healthy new year!

 

Rates courtesy of Maria Burton, Windermere Mortgage Services

For 01/04/2008
Programs	Rate	APR	P&I
30 Year (fixed)	5.750%	5.922%	$ 875
15 Year (fixed)	5.125%	5.411%	$ 1,196
3/1 Arm*	5.625%	6.349%	$ 863
Calculations based on loan amount of $150,000 at an 80% loan-to-value. *ARM loans based on 30 year term and APR may increase after closing.

 

September 06 - November 07

Spokane Association of Realtors