Local Market Update – March 2015

Inventory is the lowest it has been since our local Association since 1996.

The Market in Kootenai County up to $225,000 is a strong sellers market were many price ranges only have 3-4 months of inventory.

Homes priced over $300,000 have longer months of Inventory  with average DOM of those sold at 145.

The Supply vs. Demand situation that we are experiencing with a shortage of inventory could potentially have a large impact on home values this year.

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Coeur d’ Alene, Idaho Annual Real Estate Market Forum 2015

The 28th Annual Real Estate Market Forum, covering trends in real estate, construction, and the local economy in the Spokane-Kootenai-Bonner area, was held on Thursday, February 26, 2015 at the Coeur d’ Alene Resort in downtown Coeur d’ Alene, Idaho.  An outstanding group of speakers has been assembled by the Market Forum Planning Subcommittee, including our very own Jennifer Smock, Managing Broker and Statistical Director for our local Windermere Coeur d’ Alene Realty offices.  Here is a snapshot of her presentation.

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Windermere Foundation 2014 Year in Review (Corporate)

Windermere Foundation 2014 Year in Review

This past year, the Windermere Foundation had a milestone anniversary, celebrating 25 years of supporting programs and organizations that provide shelter, clothing, children’s programs, emergency assistance, and other services to low-income and homeless families. What started in 1989 as a grassroots foundation serving families in need in Washington State, has grown to encompass ten states and raised over $28 million—bringing us closer to reaching our fundraising goal of $30 million by the end of 2015.

It was a busy year for our Windermere agents and offices, whose participation and contributions make our funding possible. Here are some highlights from the past year…

Charity Challenge: We kicked off our anniversary celebration in March with the Windermere Foundation 25th Anniversary Charity Challenge. Twenty-one non-profit organizations were nominated by Windermere offices to compete via Facebook for $25,000. Almost 19,000 people voted to help determine the winners. The five non-profits that received the most votes were Hand in Hand, Friends of the Children of Portland, Family Promise of Spokane, Boys and Girls Club of El Sobrante, and Yavapai CASA for Kids, Inc. Each organization received $25,000, for a total donation of $125,000 from the Windermere Foundation.
Prize monies awarded allowed the non-profits to hire more staff, purchase additional food and clothing to serve more children and families, and provide additional summer programming and weekly field trips. The donations also helped fund critical programs for foster children that were not covered by state funding, and allowed one non-profit to move into a larger, newer building, enabling them to serve more clients.

Windermere Kicks for Kids: In August, Windermere offices in the greater Seattle area collected over 1,400 pairs of sneakers during a shoe drive campaign to benefit Boys & Girls Club of King County and Mary’s Place. Many of our offices came up with creative ways to collect shoes, including the Windermere office in Mercer Island, WA, which took the award for collecting the most shoes.

Coat & Blanket Drives: In the fall, Windermere offices throughout our network collected winter clothing and gear to help the homeless and families in need in their communities. The Windermere Prescott and Prescott Valley offices in Arizona collected and sorted nearly 500 jackets. Thirty-five Windermere offices throughout Oregon and Southwest Washington held their annual Share the Warmth Coat & Blanket Drive.

Food Drives: Windermere offices also collected food during the holiday season. The Mukilteo, WA office collected over 4,600 pounds of food and over $1,000 in cash donations. The Windermere Professional Partners offices in Tacoma, WA collected and delivered over 2,500 pounds of food and $924 in cash donations, which provided over 1,950 meals to individuals and families served by their local food bank.

Auctions & Holiday Events: The Windermere Raleigh Hills office in Portland, Oregon raised over $8,000 at their Winter Wonderland Silent and Live Auction. Windermere offices throughout the Western U.S. partnered with local service organizations to adopt children and families for holiday gift-giving. In December, over 200 brokers from six Windermere Real Estate/East, Inc. offices participated in the Target for Kids event, helping bring the holidays to 100 children and their families. This was their fourteenth year participating in the event, which in total has donated almost a quarter-of-a-million dollars through the Windermere Foundation. The Windermere Redding, CA office held their annual Fundraiser for Make-A-Wish and Wings of Angels, as well as a Wish List Drive for One Safe Place, a domestic violence crisis center.

No Child Sleeps Outside: Through the Windermere Foundation, Seattle-area Windermere offices came together to donate $35,000 to Mary’s Places “No Child Sleeps Outside” campaign in December. Donations were immediately used to open a crisis-response night shelter to provide homeless families with a warm place to sleep during the winter months.

Stellar Contributions: The Windermere Stellar offices in Oregon and SW Washington continued to demonstrate their commitment to community by nearly doubling their charitable contributions in 2014 from the previous year. They donated a total of $370,000 throughout the year, which supported 45 charitable organizations in their communities.

• Scholarships: $63,936
• Youth/Child Programs: $634,423.08
• Emergency Assistance: $401,086.79
• Shelter: $326,999.25
• School Assistance: $168,654.78
• Education/Job Training & Counseling: $55,521
• Administrative Expenses: $58,889.66
• Funds provided in 2014: $1,650,620.90

• Percent raised through individual contributions & fundraisers: 69%
• Percent raised through transactions: 31%
• Number of organizations served: 434
• Number of grants awarded: 591
• Average grant size: $2,792.08
• Average donation amount: $129.67
• Funds raised since 1989: $28,763,253.09

Thank you to our agents and everyone who supports the Windermere Foundation. Your generosity is truly making a difference in the lives of many families in our local communities.  If you’d like to help us reach our goal of $30 million by the end of the year, please click here for more information.

Windermere Foundation Wine & Chocolate Night Huge Success

Windermere Foundation’s Wine and Chocolate Night was a wonderful success! Money is still being tallied but it looks like we will top $6,000. That buys many, many warm winter boots! Thanks to everyone who donated food, chocolate, wine and beer, auction items, set up, cleaned up, bought tickets and purchased raffle tickets and auction items!
A special thanks to Rich Dussell and Jeannette Davidson for all their hard work and leadership and for Karen Hoff and her fabulous band, and Laurie and Katelin at the front door, checking everyone in throughout the evening with their tickets, bids, and purchases!

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Local Market Update – February 2015

Sitting on the fence and wondering if now is a good time to sell?  Short answer = yes!

Inventory levels have dropped significantly since December.  We have 1500 less listings than we did at the end of 2014.

About 200 of the 675 listings in Coeur d’ Alene and Post Falls are new construction.

In Kootenai County 25% of the inventory is New Construction.

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Caring for Katie Fundraiser Lunch a HUGE Success

Thank you Texas Roadhouse in Coeur d’ Alene.  Our Caring for Katie Fundraiser lunch raised over $5000 for Katie’s benefit.  Texas Roadhouse sold out of boxed lunches with over 1000 sold!!  Jen Willard at Texas Roadhouse was the one that organized all of this at the restaurant, she is an amazing and energetic woman, and so is the crew that assembled all of the food and lunches.

2014 End of Year Market Snapshot and Forecast for 2015

2015 New Construction Outlook

Kootenai County currently has 144,265 residents, with 64,288 Single Family Residences.

In the last 3 years Kootenai County population grew by 4.2%.

Based on this, Kootenai County will need approximately 900 additional housing units to satisfy the growth in population.

If our Sales increase in 2015 equivalent to 2014 then we should see approximately 675 new construction home sales.

2015 Forecast… Looking Ahead

With values projected to increase to 4-5% in 2015, we should see Short Sales and REO properties becoming an even smaller percentage of our local sold market.

“Existing-home sales are forecasted to rise about 7 percent  in 2015 behind a strengthening economy, solid job gains and a healthy increase in home prices… Lawrence Yun , NAR Chief Economist

“First-time buyers are expected to slowly return as the economy improves and new mortgage products are made available in the marketplace with low down payments and private mortgage insurance.” Lawrence Yun , NAR Chief Economist

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Local Market Update – December 2014

The average sales prices for our MLS has increased 8% from this time last year for single family.

Under $275,000 absorption rates still average between 4-5 months.

9 out of 11 months our number of sold homes has surpassed our 2013 totals.

Between Hauser Lake, Post Falls and Rathdrum – Hauser Lake has had the highest average sales price this year at $212,751.  (Rathdrum $202,923 – Post Falls $212,608).

If you would like a full real estate market report, please contact your Windermere REALTOR®.

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