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Archive for May, 2016

Walla Walla inventory improved in April. We had the highest number of listings for April in over six years. We had 116 single family homes https://i1.wp.com/www.inthenowllc.com/wp-content/uploads/2015/05/interest-rates.jpgin Walla Walla and College Place listed in April and only 65 are without a pending offer at this point. We have an active market and are moving ahead with interest rates still under 4% for the eighth month in a row. We cannot determine how long the rates will hold. Get in and talk with your lender about lock in costs to protect rates for up to three months if you feel you are going to make a decision this spring or early summer.

The national market for existing single family homes rose in March, rebounding from the sales for the same category in February of this year. Existing single family sales in the West climbed 1.8% to an annual rate of 1.15 million but are 2% lower than the same time in 2015. However, the median price in the West was $320,800 which is 5.9% above March of 2015. The decrease in number of sales is the still the result of lower inventory.

We have two of the appointments complete which I feel were big shoes to fill. Pat Reay is the new executive for the Port of Walla Walla and Zack Smith is the new Superintendent of Walla Walla IMG_0189Schools. We are saying good bye to one of the biggest assets Walla Walla Community College has had in recent history, when Steve VanAusdle retires in June.    He spent 45 years with the school and took it to top rankings for Community Colleges in the nation. We will miss Steve at the school but we know he will still be a big part of Walla Walla.

Take a look at all the construction work in Walla Walla. Across from my office the old Pastime is being converted into a beautiful Mediterranean Restaurant, the Bread Company and their move down the block into the beautiful renovated building with all the glass, and we have a new hotel out near the roundabout and the freeway, LaQuinta with about 100 rooms.

Quick Quiz, do you remember the original name of the diner? Fancy Dan’s.. Long time ago!

Thanks for reading,

Dennis M Ledford, Owner/Broker
Coldwell Banker First Realtors®

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It’s a good Spring day in Walla Walla! I had a fun opportunity to attend the ground breaking for the new city pool last Thursday at Borleske Park, at the site of the old Memorial Pool. Construction will start soon and an anticipated opening in May/June 2017. 13076539_10206456699039644_7247619343384273078_nWalla Walla has been waiting a long time for a community pool and it is great to see it moving ahead. Along with the Washington Park Splash Pad place last year by the effort of Rotary, Walla Walla and the City we have two wonderful spots to cool off and keep our kids outdoors and not in front of a TV screen or computer all day long. Thank you Jim Dumont, the committee, and the City for making this happen. I am including some old photos of pools I enjoyed in my teens in Walla Walla. Do you remember the Nat on Wilbur by Mill Creek, Graybill on Reser, Pioneer Park Pool near the Little league field, and of course Memorial which is now the location of our new pool.

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Congratulations go out to Pat Reay for his selection to be the new Port of Walla Walla, Executive Director. Pat was my choice of the four finalists and I know he will do well in representing our County at all levels. I feel they will agree on his contract terms shortly and he can enter the position ready to move ahead.

Pending homes sales increased slightly in March for the second consecutive month and reached our highest level in almost a year, according to the National Association of Realtors. The only region that saw a small decrease in activity last month was the West.   Inventory is creating issues for families in the Walla Walla area and it creates frustration for them in their search. Brokers have several buyers each looking at the market and not finding what they want. The top listings are selling very fast and a few with multiple offers. If you are looking, make sure you have pre-qualification letter from your lender, also talk to more than just one lender. Compare rates, fees, and make sure you feel comfortable and trust the lender you choose. They will be one of the most important parts of you finding and closing on your dream come true home, outside of your Realtor.

Just to share some stats with you:

New Listings, Residential Only, College Place/Walla Walla, 01/01/2016 – 04/30/2016:
309 New Listings
Average List Price:  $275,753

Sold Listings, Residential Only, College Place/Walla Walla, 01/01/2016 – 04/30/2016:
202 Sold Listings
Average List Price:  $234,331
Average Sale Price/List Price: 98% (WOW!)
Average Days on Market:  142
Happy Mother’s Day!
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Dennis M Ledford, Owner/Broker
Coldwell Banker First Realtors®

 

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