Category Archives: Local Info & Statistics

Tri-cities local real estate housing statistics stats news information Richland Pasco Kennewick West Richland

Homeowners and Renters Insurance

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Fire burns on Badger/Clodfelter/Triple Vista area in the Tri-Cities

The Tri-Cities is protected from many natural disasters that other parts of the state and country are exposed to, but we do experience frequent winds.  Today the combination of 20 mph winds and a brush fire threatened homes from the Badger/Clodfelter/Triple Vista area to Hansen Park in Kennewick.  Our thoughts are with those who have been affected.  News reported residents to be safely evacuated as about 38 engines and 110 firefighters fought to keep flames away from about 50 homes.

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Smoke from Badger Fire over Amon Basin

Most buyers are required to obtain insurance for possible disasters, but it’s a good idea for renters to protect their belongings as well.  We’d like to remind both homeowners and renters to evaluate insurance policies regularly to ensure your home and belongings are protected in the event of a fire or other disaster.  We’d like to thank the firefighters and all those who sacrificed and put in time and effort today to keep the flames contained!

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Tri-Cities home sales per price range

The most important factors to consider when selling or buying a home are location and price.  Buyers often start with an area, then look for homes within their price range.  Their goal is to find the best possible home they can within the range they can afford.  Of course there are other factors such as layout, style, lot size, etc., but location and price are the most important factors.

Prices of homes sold on the MLS in 2012

Prices of homes sold on the MLS in 2012

Lower priced listings sell fast because there are many buyers in that price range.  We’ve found that homes in the Tri-Cities listed under $200,000 in good condition don’t last long.  Last week we listed a home priced at $139,900 in great condition.  It had many showings right away, and we received 3 offers the first week!  We also have a few homes priced around $450-525,000.  They’re great homes at a great price (both less than the cost of building!), but they don’t show as often because there are fewer people shopping in that price range.  The chart does not show homes sold outside of the MLS, such as when an agent takes a buyer directly to the builder, or when a buyer contacts a builder directly.

Whatever your price range, it’s important to get comparables for active and sold listings in your neighborhood.  This is important for buyers and sellers.  If you’d like comparables in your neighborhood, we can email you active and sold listings that are similar to your house.  Simply contact us at www.kundehomes.com or call us at (509)845-4570.

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Tri-Cities 2012 Home and Land Sales

2012 Home and land sales in the Tri-Cities, WA

2012 Home and land sales in the Tri-Cities, WA

 

The results are in for 2012 home and land sales in the Tri-Cities, WA.  We’ve been showing and selling homes in Benton City and Burbank, so we’ve expanded our charts to include the smaller cities in the area.  Our numbers for 2012 include sales in Richland, West Richland, Pasco, Kennewick, Finley, Burbank, and Benton City.  Sales remain stable and steady with 2903 home sales and 334 land sales.  An additional 396 homes and 101 lots were under contract for sale at the end of the year.  One thing we’d like to point out is that homes are selling year-round.  Spring is historically considered the best time to sell a home, but as you can see, buyers have been making offers every month!

 

2012 Tri-Cities residential sales divided by city

2012 Tri-Cities residential sales divided by city

Home and land sales divided by city show Kennewick has 35%, Pasco 27%, Richland 34%, and West Richland 10% of total sales.  We are very thankful to our customers who allowed us to represent them in buying or selling homes in 2012.  To compare last year’s statistics, see our 2011 year-to-date blog post here:  2011 Tri-Cities Home and Land Sales

Please contact us at (509)845-4570 if you would like more information about buying or selling a home this year…we’d love to help you out!

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Tri-Cities Home & Land Sales Jan-Nov 2012

Single family home sales per month in the Tri-Cities

The final quarter of 2012 is looking good for Tri-Cities home & land sales.  Oct and Nov sales are significantly higher than last year, and there are 427 homes and 119 lots under contract (more than July!).  We attribute this to the historically low interest rates and stable Tri-Cities economy.

Many sellers believe winter is not a good time to sell.  It’s true that showings slow down when cold weather hits, but house-hunters in the winter are more likely to be serious buyers, ready to make an offer.  The decrease in supply of houses on the market means each showing is more likely to result in an offer.

Our showings and sales are steady;  we’ve closed 5 houses in the last 2 months and currently have 5 more under contract.  We have 3 homes listed that are still looking for new owners, so check them out in the “featured listings” bar to the right and let us know if you have anyone in mind.  We also have a few clients who have been unable to find exactly what they’re after, so let us know if you’re thinking about selling soon!

Tri-Cities Home & Land Sales Jan-Aug 2012

The Tri-Cities real estate market remains strong, and August boasts the highest home sales of the year!  291 single family homes sold in August in the Tri-Cities, up from 257 in July.  Land sales remained steady with 30 lots sold.  We’re also seeing an increase in houses under contract–395 homes and 76 lots have pending sales.  Buyers are taking advantage of the historically low interest rates, and we’ve definitely seen an increase in our business activity (we have 9 houses under contract!) so we expect the steady sales to continue into the fall.   It’s still a buyer’s market, but offers are out there for sellers who are priced competitively. 

YTD Tri-Cities home & land sales Jan - Aug 2012
Tri-Cities single family home & land sales 2012

If you’d like to know the value of your home in today’s market, or take a look to see what’s available for sale in your price range, please give us a call! 

 

 

 

 

 

The Manhattan Project–Richland’s Alphabet Houses

August 13, 2012, marks the 70th anniversary of the Manhattan Project, a top secret research & development project in the Columbia Basin, ordered by President Roosevelt during World War II.  Its primary goal was to produce plutonium for the world’s first atomic bomb at what is now the Hanford Nuclear Site, located near Richland.  The federal government built the City of Richland from scratch (after evicting the residents of Richland, White Bluffs, and Hanford) with houses and duplexes named with letters of the alphabet, designed by Spokane architect Albin Pherson.  All land and homes were owned by the government, and residents were assigned homes according to their employment status and family size.

Gold Coast Historical District, Richland WA. Courtesy of Google maps.

 

After the war ended, the land and homes were turned over to private ownership.  Most of these homes have been updated, some have been remodeled from duplexes to single family homes, and areas that have maintained their original style have been preserved as part of the Gold Coast Historic District.  There are also a few farmhouses dispersed throughout the city that precede the World War II era.

 

Richland Bomber logo, a chalk art drawing photographed at Uptown’s Chart Art Festival 2012. Artist unknown.

 

Richland is a unique community and its residents are proud of their atomic history; Richland High School’s mascot is the “Bombers” and the logo includes an atomic mushroom cloud.   The class of ’72 had this youtube video made for their 40th class reunion–it’s a fun song with some historical pictures of the area:  Richland, WA video from RHS Class of ’72

You can find more information about Richland’s alphabet homes, including drawings and descriptions, here:  Richland Letter Houses

Letter houses remain desirable due to their proximity to central Richland and the Hanford Site.  They are desired by renovators, and are often purchased as rental properties.  If you’d like to see alphabet houses currently on the market in Richland, just give us a call!

 

 

 

 

Tri-Cities Home & Land Sales Jan-July 2012

Single family home and land sales for the Tri-Cities through July 2012

Home and land sales in the Tri-Cities remained stable & steady in July with 257 single family home sales and 32 land sales.  In addition, 375 homes and 72 lots are currently under contract.  We expect this steady real estate market to continue in the Tri-Cities as we move into fall. 

We had a busy July, showing houses to several new buyers, closing one of our listings, adding a new listing, and placing 7 houses under contract!  We have 2 new listings coming up in mid-August so don’t forget to check our featured homes, they’re always updated and available on the right side bar of our website. 

Thank you to all our clients and friends for referring us…it’s the best compliment you could give!

 

 

 

 

 

Willowbrook Heights in South Richland

 

Willowbrook Heights is one of the most desirable subdivisions in South Richland.  It is located west of Leslie Rd, between little Badger Mtn and Amon Basin Wildlife Refuge.  The neighborhood features a variety of stucco and lap/stone sided homes, built on curving roads and cul-de-sacs that blend together to create a community atmosphere.

The homes are located in the City of Richland, but fall within the Kennewick school district boundary lines including Cottonwood Elementary (just over 1 mile away in Badger Canyon), the newly-built in 2016 Desert Hills Middle School, and Kamiakin High School.

Willowbrook Heights in South Richland

Arial view of Willowbrook Heights in South Richland, courtesy of Google maps

 Residents enjoy the location with close proximity to local amenities:

  • 1 block from hiking trails in Amon Basin Wildlife Refuge
  • 1.2 miles from grocery, convenience, Rx, banks, restaurants, and medical facilities
  • 1.3 miles from I-82 freeway access and gas station
  • 1.8 miles from Meadow Springs County Club golf course
  • 3 miles from Costco, Columbia Center Mall,  2 movie theaters, and restaurants

 Willowbrook Heights has an HOA that maintains the community park and common areas.  The park is a grassy area within the subdivision and includes a playground area, grassy areas, and a large basketball court.

 Please contact Nick or Valerie at (509)845-4570 if you’d like more information about Willowbrook Heights or surrounding neighborhoods.  We’d love to help you find a community that fits your lifestyle!

Avoid Mistakes in…Seller’s Market???

We were quite surprised to open to the business section of the Sunday Tri-City Herald to an article titled “Avoid Mistakes in Seller’s Market.”  The original article was written by Paul Owers in Florida’s Sun Sentinel.  Granted, it’s a long shot from here to Florida, where prices have increased and fewer homes are available for sale, but we’ve seen hints of improvement on the national level, and it always seems to trickle down to the slow-but-steady market here in the Tri-Cities. 
Tri-City Herald runs article “Avoid Mistakes in Seller’s Market”
It’s not just Florida.  Our relatives in Phoenix sold their house in 1 day.  A client from Seattle sold in 2.  I went on a househunting trip to Boise with my cousin and nearly all the available houses were 30 days-on-market or less.  What does this mean for the Tri-Cities? 
 
It’s still a buyer’s market, but interest rates are incredibly low and houses that are competitively priced are selling fast.  One of our listings under contract got a full price offer in 4 days on the market.  We recently looked up a newly listed house in Burbank for a client and it was already under contract (just 3 days on the market).  It is nice to see this kind of movement and gives us hope for a healthy housing market.
 
We’ve always told our clients that if they’re moving locally, they buy and sell in the same market.  Selling in a buyer’s market means you may get less than ideal when you sell, but you should be able to find an incredible deal on the house you purchase.  Waiting to sell in the hopes of getting more money when the market improves means you’ll also be paying more when you purchase a home.  Our advice is to consider your options and make the move when it’s right for you. 
 
Link to the Sun Sentinel article:  Five Mistakes Buyers Make as Sellers Market Looms
 
Give us a call if you’d like more info on the “sold” prices in your neighborhood or if you’d like to take a look and see what’s available in the Tri-Cities in your price range.  We’d love to help you out! 
 
 
 
 
 
 
  
 
 

Tri-Cities Home & Land Sales Statistics May 2012

Residential home & land sales for the Tri-Cities Jan-May 2012

 The month of May has ended and it’s time to report Tri-Cities land & home sales statistics.  258 single family homes and 25 residential lots were sold from May 1-31st (we expect more to trickle in as agents update their MLS listings with houses that sold in the last week).  That brings us to 1035 home sales and 117 land sales year-to-date.  There are 563 homes and 105 residential lots currently under contract. 

We are definitely seeing an increase in the slow-and-steady sales that our local market is known for:  we’ve listed 3 new homes this week,  received an offer on one listing (just 4 days-on-market!), closed/finalized the sale of another listing, helped a buyer make an offer on a home (accepted!), helped another buyer purchase a .5 acre lot, and showed houses like crazy to potential buyers.  It’s been a busy month and we’re thrilled, especially about the full price offers on our 2 recent sales! 

Give us a call if you’d like to see houses or if you’d like to know what your house is worth in today’s market in the Tri-Cities.  We’d love to help you out!