EvoReal Talks Jessica Side

What’s going on in Spokane? Catch a show! Our upcoming recommendations: Paul McCartney, Wicked, and Shen Yun. Matt discusses three strategies to get more money out of your home even in a seller’s market. 

1. Pricing & Preparation- it pays to be competitive in your pricing (overpricing can bite you in this market), you are still competing against your neighboring homes (even in a seller’s market) and want to stand out. Update fixtures, reduce clutter, paint where needed, and do a lot of cleaning. Promotion: make sure your Realtor® has a well-designed plan for online advertising, photo and video presentation of your home, and in-person marketing strategy such as an open house to aid with showing volume. Negotiation: make sure your agent is 100% ready and available to be active in reviewing offers and negotiating with buyer’s agents once you are listed. 

2. Downside insurance: Will the house appraise? If not, consider your offers with an additional down payment or cash offers. 

3. Active Participation in Evaluation: Actively engage the appraiser, create touchpoints with the appraiser, and include details over the offers that came in, reasons for list price, repairs that may not be factored in without a close eye, and any other requests they may have. Be a resource, personalize yourself and the house in question.

If you are considering listing your home always work with a real estate professional, we would love to help guide you call us or visit us online for more details 509-624-6873 | https://www.evoreal.net/sell.php

It’s Black History month and the dynamic duo reflects on the uncomfortable history of Spokane’s zoning laws. As Spokane grows higher density housing and zoning changes add to NIMBY sentiment. Will we continue to feed into the problem or be a part of the solution?

Book Recommendations:

1. The Color of Law | Richard Rothstein

2. A Raisin in the Sun | Lorraine Hansberry

Multifamily investing, what’s the deal? Did you know you can still get a low-down payment loan on a 2-4 plex? Jessica breaks down the top three reasons to purchase a multi-unit property. #3. The one roof factor, for exterior maintenance you have economies of scale by only having to maintain one roof, that goes for painting and yard work as well. #2. Monthly mortgage money! If you live in one of the units you are supplementing your living expenses. #1 Purchase power plus hack, purchasing a multi-unit building allows you to use the monthly income of a rental unit as income. Matt breaks down the costs and benefits associated with getting into the investment market and how you could supplement your living and build equity.

This week we feature the South Perry District of Spokane. We have a featured property: 1829 E 14th ave, an updated bungalow home priced in the lower 200’s! Jessica gives us some historical insights into the Perry District and how it became such a wonderful community. A few of our favorite restaurants and shops: Wisconsin Burger, South Perry Pizza, Casper Fry, The Lantern, Perry Street Brewing, Meeting House Café, The Grain Shed, The Shop, The Bike Hub, Wishing Tree Books, Title Nine, Liberty Park Florist and Roots Salon. You won’t want to miss the amazing Grant Park and the Thursday Farmers Market in the summer which is growing each year!

More info on South Perry here- https://www.visitspokane.com/about/districts/south-perry-district/

Check out the Thursday Market- https://www.thursdaymarket.org/

Matt and Jess breakdowns the Spokane Market with insights from 2021 and they even have some predictions for this year’s real estate run.

Home sales continue to hold steady but inventory is shockingly low. Move up and move down buyers are having issues finding replacement homes compounding the issue. Spokane’s affordability gap grows as local housing prices increase only 15% of our workforce can actually afford the median-priced home.

Affordable options and legislation are on the way, it’s not all bad news for buyers. Middle housing incentives and infill projects are a big push for solutions to more affordable housing.

Learn more about Spokane's affordable housing plans here- https://my.spokanecity.org/projects/shaping-spokane-housing/

In our final short-term investment series episode: Jessica talks about creating a special guest book to give your property that extra oomph.   

Commit some time and resources into making a quality leatherbound booklet. Visit Etsy.com, search for a guest book template, there you will find great digital templates for download that integrate with Canva.com for design. In the guest book: Start with an inviting photo for your cover page, include a TOC, emergency contacts, WiFi password, house rules, instructions for appliances (and tech), resort amenities, recommendations and special local finds, best modes of transportation (walking routes as well), check out instructions, ask for a review, include your contact information.   

Matt discusses self-management. Make sure you fully understand your maintenance items and create a maintenance schedule. The Top Tech Tools: Get a Google voice number, use a calendar reservation manager (we use Guesty), automate your reminders with a system like Guesty (worth every penny), get a smart door lock that changes code, smart thermostat, motion sensor camera in supply cabinet and exterior.