Buying A Home In Spokane • Spokane Neighborhoods • December 23, 2022

Browne’s Addition | Spokane’s Downtown Neighborhood

by Brian Johnson

Brown’s Edition is a historic neighborhood in Spokane, Washington that dates back to 1878. It was founded by Mr. Brown and Mr. Cannon, who bought a quarter of Spokane Falls (later renamed to Spokane) from the city’s founder, Mr. Glover. At the time, there were only 54 people living in the area, but by 1880, the population had grown to 350.

In 1889, a major fire swept through Spokane, destroying many buildings. However, this also marked a time of rebuilding, and during this period, many large Victorian mansions (also known as folk Victorian mansions) were built in Brown’s Edition. These houses were not Sears houses, but rather were built using plans that people could purchase and import wood to construct.

Today, Brown’s Edition is primarily a residential neighborhood, with a mix of individual houses, condos, apartment buildings, and even some law offices. One of the standout features of the neighborhood is Coeur d’Alene Park, located in the center of Brown’s Edition.

In terms of location, Brown’s Edition is convenient for those who work in Spokane, as it is just a 20-minute drive from the city center. It is also close to Spokane International Airport (a 15-minute drive) and several parks, including People’s Park and Manito Park.

In 2021, infrastructure was put in place for a main public transportation line to be built in Brown’s Edition. This line is expected to be completed in 2023, enhancing the neighborhood’s already good public transportation access.

If you are considering moving to Brown’s Edition or have any questions about real estate in the area, you can reach out to Brian Johnson, a real estate broker with Windermere Valley Liberty Lake. Brian’s contact information can be found below.

Buying A Home In Spokane • Spokane Neighborhoods • December 23, 2022

Everything You Need To Know About Living In Liberty Lake Washington

by Brian Johnson

Liberty Lake is a small town located in Washington state, just a mile west of the Idaho border. It’s a beautiful place to live, surrounded by mountains and with a large lake right behind it. In Liberty Lake, you can find amenities such as golf courses, schools, and a public beach. There are two elementary schools and one high school located in the area, as well as a few boutique shops and coffee shops in downtown Liberty Lake. There are also two main grocery stores in the area, but for more shopping options, you’ll likely need to head to the nearby valley.

According to payscale.com, the cost of living in Liberty Lake is higher than the national average, with housing being 63% higher, utilities being 1% higher, groceries being 3% higher, and transportation being 10% higher. This is likely due in part to the lack of public transportation options and the need to drive everywhere. The median home price in Liberty Lake is around $650,000, and the median rent is just under $2,000 per month. Energy costs are about $173 per month, phone bills are about $190 per month, and gas is about $4.81 per gallon.

The median home price in Liberty Lake is around $650,000, but there are also a number of houses in the multi-million dollar range, particularly in the Legacy Ridge neighborhood. However, there are also a few houses and condos available for less than $400,000, as well as new construction homes available for just below the $500,000 range. These houses typically have four bedrooms, three bathrooms, and are around 2,400 square feet.

In neighboring communities like Greenacres and Millwood, you can also find homes available in the same median price range. These homes range from four bedrooms, three bathrooms, and around 3,100 square feet, to six bedrooms, four bathrooms, and around 3,500 square feet.

Overall, Liberty Lake is a beautiful place to live, with a variety of amenities and a close proximity to Spokane and Idaho. However, it’s important to consider the higher cost of living

Buying A Home In Spokane • Spokane Neighborhoods • December 23, 2022

Everything you NEED to know about Spokane Valley, Washington 2022 – Living in Spokane Valley WA

by Brian Johnson

Spokane Valley, Washington is a vibrant community located just east of Spokane, the second largest city in the state. With a population of over 100,000 people, Spokane Valley is a thriving hub of activity, offering a wide range of amenities and attractions to its residents and visitors.

In terms of commute, Spokane Valley is conveniently located near major transportation routes such as I-90, which connects the community to downtown Spokane, Spokane International Airport, and other nearby cities. This makes it easy for residents to get around and access the amenities and attractions of the wider region.

In terms of housing, Spokane Valley offers a range of housing options to suit a variety of budgets and lifestyles. There are both single-family homes and multi-family dwellings available, as well as various types of housing developments including new construction, established neighborhoods, and gated communities.

The community is also home to a number of parks and green spaces, including Mirabeau Point Park and CenterPlace Regional Event Center. These popular destinations offer opportunities for picnics, sports, and other recreational activities, as well as a range of events and festivals throughout the year.

Geographically, Spokane Valley is located in the eastern part of Washington state, just east of Spokane. The area is surrounded by stunning mountain ranges, including the Cascade Mountains to the west and the Selkirk Mountains to the north. The Spokane River winds through the valley, providing a beautiful backdrop for outdoor activities like fishing, hiking, and cycling.

In terms of stats, Spokane Valley has a population of over 100,000 people and is home to a number of major employers, including healthcare provider Providence Health & Services and technology company Itron. The community is also home to a number of smaller businesses and entrepreneurial ventures, making it an attractive destination for those looking to start or grow a business.

Overall, Spokane Valley is a vibrant and thriving community that offers a wide range of amenities and attractions to its residents and visitors. Its convenient location, diverse housing options, and abundance of parks and green spaces make it a great place to live and work.

Buying A Home In Spokane • Spokane Neighborhoods • December 23, 2022

Five Mile Prairie In Spokane Washington | What Makes It So Special

by Brian Johnson

Five Mile is a neighborhood in Spokane, Washington that is known for its beautiful parks, schools, housing, and shopping. Brian Johnson, a real estate broker with Windermere in Spokane, is taking us on a tour of the area to show us all that it has to offer.

Five Mile gets its name from being five miles from Spokane Falls, which is the downtown area of Spokane. It is located on a mesa that is about 400 feet above the rest of the city, and was once home to the C-WASH SIWAS Indian tribe, whose ancestors were connected to the Spokane tribe. The tribe called the area Billy Meacham, which means “home of the tall grass” and was named after their chief. There is evidence that the tribe has lived in the area since 1010, as there are pictographs on rock formations in the area that can be seen while hiking.

One of the highlights of Five Mile is Sky Prairie Park, a 24 acre park that is surrounded by houses and has walking and jogging trails, a ball field, recreation equipment, and tennis courts. It is a great place for families to spend time together and enjoy the outdoors. Another interesting historical feature of Five Mile is the JF Strong House, which was built in 1879 and was the first inhabited house in the area. It is now on the historical register and is a unique piece of Five Mile’s history.

However, not everything about Five Mile is perfect. One issue that residents face is the condition of Strong Road, which is a poorly maintained road that is used by both the city and unincorporated Spokane County. The road is in such bad condition that it can be difficult to drive on, and the bus rides for children who live in the area can be bumpy and uncomfortable. Despite this, many people still choose to live in Five Mile because of its beautiful scenery, rich history, and close-knit community. If you are interested in moving to Five Mile or have any questions about real estate in the area, Brian Johnson would be happy to help you out.

Market Watch • Spokane Info • Spokane Investors • December 23, 2022

Spokane Rental Market – What’s Going On And Will It Get Better?

by Brian Johnson

Hello and welcome to my blog! My name is Brian Johnson and I am a real estate broker in Spokane, Washington. Recently, I’ve been receiving a lot of questions about the rental situation in Spokane. Why is it so bad? Why are rents so different all over the place? In this blog post, I want to delve into the numbers and provide some insight into what’s really going on with the rental market in Spokane.

First, let’s address the question of why rents are different in different areas. Just like with housing, location is a major factor in determining rent prices. A nicer building in a nicer area will naturally cost more to rent, as will a newer building or one with amenities such as a gym or good security. Additionally, proximity to transportation and overall safety can also play a role in rent prices. For example, an apartment close to public transportation may have lower rent prices than one located in a more desirable neighborhood.

Now, let’s look at the problem with rising rents in Spokane. According to a report by the Spokane Association of Realtors, in February 2021 fewer than 5% of homes in the area sold for less than $200,000, and less than 15% of the area’s employee population could afford to buy a home. This is a significant change from just five years ago, when over 50% of homes in Spokane sold for less than $200,000 and around 70% of the employee population could afford to buy a home.

One factor contributing to the rise in rent prices is an influx of out-of-towners with higher budgets. A survey by Redfin found that home buyers moving to Spokane in 2021 had a budget 23% higher than what locals had. With the pandemic bringing even more people to the area, the demand for housing has outstripped the supply, leading to higher rent prices.

Another factor contributing to the rental market in Spokane is the lack of new construction. The market was already tight before the pandemic, with Spokane experiencing tremendous employment growth and attracting national attention as a great place for relocation. However, the pandemic has slowed down new construction, further exacerbating the shortage of available housing.

So, what can be done about the rental situation in Spokane? One solution is to increase the supply of housing through new construction. This could include building more apartments, duplexes, and townhomes to meet the demand for rental properties. Additionally, relaxing zoning restrictions and promoting the development of accessory dwelling units (such as granny flats or basement apartments) could also help to increase the supply of housing.

In conclusion, the rental situation in Spokane is driven by a combination of factors, including location, amenities, and the demand for housing. The pandemic has exacerbated the already tight rental market, leading to higher rent prices. Increasing the supply of housing through new construction and relaxing zoning restrictions could help to alleviate some of the pressure on the rental market. If you’re thinking of moving to Spokane or making a move within the city, don’t hesitate to reach out to me for more information and assistance.

Buying A Home In Spokane • Market Watch • Spokane Info • December 23, 2022

Spokane Housing Market Now Compared To The 2008 CRASH

by Brian Johnson

In my weekly video on Spokane real estate, I typically go over the current market stats and how the market is changing. This week, I decided to do something a little different. I received a comment asking me to compare the current state of Spokane real estate to what it was like before the crash in 2007-2008 during the global financial crisis. Many people have been comparing the two situations, with some saying that the circumstances are different now and we won’t see the same result, while others believe that the current market is a bubble and a crash is imminent.

To answer this question, I dug into the numbers and did a comparison of July 2007 to July 2022. One thing to note is that in the summer of 2007, the market had already started to drop in price, while we are currently starting to level off. However, I still wanted to do a comparison of apples to apples, so I looked at the data for both periods.

The average price per square foot in Spokane County for single-family homes on less than an acre was $98 in July 2007 and $229 in July 2022. In terms of inventory, we had 2,958 homes for sale in July 2007 and only 943 homes for sale in July 2022, which is about one-third of the inventory. The volume of houses sold in July 2007 was 706, and we have sold 761 houses so far in July 2022, which will likely top out at around 800 for the county. While the volume of houses sold is not much different, the huge difference in inventory is the main factor driving the change in median sold price, which was $203,000 in July 2007 and $460,000 in July 2022.

In July 2007, we had 4.2 months of inventory, which is considered a balanced market. In July 2022, we have only 1.2 months of inventory, which is a seller’s market. Low inventory combined with high demand is driving prices up. Another factor to consider is that mortgage rates are currently much lower than they were in 2007.

In conclusion, while there are some similarities between the current state of Spokane real estate and what it was like before the crash in 2007-2008, there are also significant differences. The main difference is the low inventory and high demand we are currently experiencing, which is driving prices up. Mortgage rates are also much lower now, which is a positive factor for buyers. It’s important to keep in mind that every market is unique and it’s difficult to predict what will happen in the future. If you have any questions about real estate, feel free to give me a call or reach out to me via email or text.

Buying A Home In Spokane • Spokane Info • Spokane Investors • December 23, 2022

Spokane Is Changing It’s Zoning

by Brian Johnson

The city of Spokane is undergoing a major change in its zoning regulations that will allow for the construction of multi-family housing, including townhouses, in all residential areas. This temporary change, which will be in place for one year, is being referred to as the “missing middle housing,” although some disagree with this characterization.

The interim zoning ordinance will permit the development of duplexes, triplexes, and quadplexes, with no restrictions on the number of attached townhomes. The city’s planning director has stated that the one-year time frame will allow officials to work towards a permanent change in the future, while state law allows for the temporary change to be implemented.

Some are concerned about the potential impact on the housing market, as well as the uncertain nature of the temporary change. However, others see it as an opportunity to address the housing shortage and provide more options for those seeking to invest in multi-family housing. It will be interesting to see how this temporary change plays out and what the permanent solution may be in the future.

It’s important to note that this change has the potential to significantly impact the city and its residents. A simple zoning change can make or break businesses, change neighborhoods, and have both positive and negative consequences. This is especially true with a city-wide zoning change like the one being implemented in Spokane.

It’s also worth considering the motivations behind the change. Some may argue that the city council and zoning department have an ideological desire to increase density and allow for more multi-family housing. Whatever the case may be, it’s clear that these changes will have significant implications and should be carefully considered.

Overall, the temporary zoning change in Spokane is a noteworthy development that will likely be closely watched in the coming year. As a real estate broker in the city, I will be paying attention to how this plays out and will be available to assist those with questions or looking to buy or sell a home. If you have any questions about real estate in Spokane, don’t hesitate to reach out to me.

Here’s the link to 2 news sources about the changes:

https://my.spokanecity.org/news/releases/2022/05/17/city-council-approves-amended-interim-zoning-ordinance/

https://www.spokesman.com/stories/2022/jul/18/suddenly-theres-options-spokane-city-council-oks-o/

Buying A Home In Spokane • Spokane Neighborhoods • December 23, 2022

Deer Park Washington Real Estate Tour

by Brian Johnson

Welcome to our real estate tour of Deer Park, Washington! Deer Park is a small town of about 4,200 people, located about 40 minutes from downtown Spokane and about 45 minutes from the airport. The town was incorporated in 1908 and was originally a lumber town, providing wood for the construction of Spokane during World War II. In addition to the lumber mills, the town also built a large airport with three 6,000 foot runways to accommodate any type of aircraft. After the war, a missile site was built next to the airport, but it has since been decommissioned. The airport still exists today, with one 6,000 foot runway and one 3,000 foot runway.

In this tour, we will take a drive up to Deer Park and show you some of the houses in the area. We will also provide a real estate market report on the cost of homes in Deer Park and what is currently for sale in the summer of 2022. You can use the time stamps in the description to skip to different parts of the tour or revisit specific parts. If you have any questions about real estate, feel free to reach out to Brian Johnson, a real estate broker with Windermere.

So, let’s begin the tour by driving up to Deer Park from Costco, located in North Spokane. Along the way, we will show you the route and point out landmarks and points of interest.

Upon arriving in Deer Park, we will visit the city’s website and take a look at some of the active listings on Home Snap, a real estate search platform. The lowest price listing currently available is a three bedroom, one bath home with 1979 square feet for $339,000. Moving up in price, there is a new construction home with three bedrooms and two baths for $386,000. There are also several other options available, ranging in price and size.

In addition to homes for sale, Deer Park also has a recreational park, city pool, 18-hole golf course, and an RV park. The town hosts a number of community events throughout the year, including the Summer Concert series, Winterfest, Settlers Day parade, the oldest parade in Washington state, and a Fourth of July celebration. There is also a pumpkin lane and a helmet drive sponsored by Kiwanis.

Overall, Deer Park is a small town with a rich history and a variety of recreational and community events. If you are interested in purchasing a home in the area, there are a range of options available to suit a variety of budgets and needs. Thank you for joining us on this real estate tour of Deer Park, Washington.

Buying A Home In Spokane • Spokane Investors • Spokane Neighborhoods • December 23, 2022

North Bank In Spokane Is A HUGE Real Estate Opportunity In Washington State

by Brian Johnson

Spokane, Washington is experiencing a lot of development in a particular area of town known as North Bank. Located just north of downtown and across the Monroe Street Bridge on the east side of Monroe Street, this area is seeing the construction of several new buildings and developments. The Podium Sports Complex is already operating, while the Downtown Stadium is currently being built. The Falls Towers, a large development featuring condos, is also under construction. The Papillon Building has filed its permits and it looks like a second structure will be built next to the brick one currently there.

In addition to these new buildings, there are also several amenities in the area. The Spokane Arena is nearby, as is the Great Floods Park for kids. There are also restaurants and shopping in the area. This makes North Bank a great place to live or visit, as there is always something to do and see.

One of the most exciting aspects of North Bank is the fact that it is walking distance to downtown Spokane. This means that residents and visitors can easily access all that the city has to offer, including dining, shopping, and entertainment options. It is also convenient to other destinations, such as the arena and podium, which draw visitors from out of town.

For those interested in real estate, this area presents a unique opportunity for rental properties. It is in high demand due to its proximity to downtown and popular attractions, making it a great choice for short-term rentals or even long-term rentals. Brian Johnson, a real estate broker with Windermere, suggests that this is a fantastic opportunity for real estate investment, as it is an area that is highly sought after.

If you are interested in learning more about the real estate opportunities in North Bank, or have any other real estate questions, you can reach out to Brian Johnson at any time. He is happy to chat about real estate and keep you updated on what is going on in the market. Subscribe to his YouTube channel to stay up to date on the latest developments in Spokane, Washington. With so much going on in North Bank, now is a great time to invest in real estate or simply visit and enjoy all that the area has to offer.

Buying A Home In Spokane • Spokane Neighborhoods • December 23, 2022

Cheney Washington Real Estate Tour

by Brian Johnson

Welcome to today’s real estate tour of Cheney, a small town located about 17 miles southwest of Spokane, Washington. With a population of around 13,000 people and an additional 10,000 students at Eastern Washington University, Cheney is a college town with a rich history. In fact, back in the 1800s, the town of Cheney was in a dispute with Spokane over the county seat and even won in a disputed election, although Spokane eventually became the county seat.

In this tour, we’ll take a look at the housing options available in Cheney and at the end, we’ll discuss the current state of the real estate market. My name is Brian Johnson and I’m a real estate broker with Windermere in Spokane. If you have any questions about real estate in Spokane or Cheney, feel free to reach out to me at the number provided.

As we take a look at Cheney on Google Maps, you can see that it’s located just south of Spokane and is home to Eastern Washington University. Housing options in Cheney are limited and are primarily found in the old town area and south of the university. One thing to do in Cheney is visit Fish Lake Regional Park, which offers a variety of amenities such as hiking trails, a basketball court, a barbecue area, and a swimming beach.

As we tour the town, you’ll notice a mixture of new construction and older homes. The houses on the south side of the university tend to be newer, while those on the north side are older. There are also some newer developments on the north side of town. Prices for homes in Cheney range from around $200,000 for older houses to over $500,000 for newer construction.

Now let’s take a look at the current state of the real estate market in Cheney. As of 2022, the median home price in Cheney is $280,000, which is up 5% from the previous year. The market is considered to be a seller’s market, with homes selling quickly and often above the asking price. The average days on market for a home in Cheney is just 21 days.

In conclusion, Cheney is a small, college town located just outside of Spokane with a limited selection of housing options. The real estate market in Cheney is currently strong, with a median home price of $280,000 and homes selling quickly. If you’re considering purchasing a home in Cheney or the surrounding area, now may be a good time to do so. Thank you for joining me on this real estate tour of Cheney.