I coin myself a giant sponge. I love information. I enjoy sharing what information I find with others. As a sponge, I belong to many networking groups, I subscribe to Google alerts and I read as many news articles as I can find regarding the housing market, specifically our local region. While most of the general housing information is useful to a degree, it is mostly just bits and pieces I store away and keep for later – in my brain, the sponge.
What is the Walla Walla area housing market really doing? Boy oh boy, now that is subjet that you will most likely get a different response from each person you ask. Kind of like the seesaw that my girls use in the backyard. Up one second, down the next. So, from some of the experts, here is where the Walla Walla area stands:
Yesterday I read an article from the Washington State Housing Finance Commission that included a section written by the Executive Director of the Walla Walla Housing Authority. Renee rooker stated “Walla Walla is experiencing the economic slowdown two years behind much of the rest of the country. We are now really facing foreclosures, where other markets are starting to rebound.”
This morning I read an article in which Doug Simcock of Windermere Real Estate mentioned that the housing market is stable and that sales are on the rebound. “Prices and interest rates are both low and it makes sense to invest in a home again.” Here is a link to the article from KEPR News
Wow. So, are we facing a glut of foreclosures still to hit the market? Or is this the beginning of the upswing? I feel lately that the housing market is like the weather. If you don’t like the market forecast, wait an hour and you’re probably going to see it represented in a different light.
What I have been seeing in the Rental Market Housing is this:
Last October 2011, the market took its normal downturn for the fall season, with rentals staying on the market longer and the rental prices dropping up to 5% in some areas. This is very typical as most people don’t want to move in the rain, snow and muck and will mostly do so only out of necessity. Yes, there it is again the reference to housing and the weather.
While January saw a slight improvement of about 1% in pricing and there seemed to be a constant turnover of rentals, for the last month or so, it has hit a plateau and levelled out. With our delayed arrival of Spring sunshine, I think that our warmer rent increases are just around the corner. I know I’m looking forward to seeing an upswing on the seesaw.
I woke up to 5 inches of snow on the ground this morning. Wasn’t the first day of Spring just 2 days ago? I’m looking forward to the blossoms, blooms and warmer sunshine, so my girls can go out and clear the stagnant winter air out of their lungs. I also hope the sunshine clears the stagnant air out of the housing market. How about you?
Lori Hartjoy is the owner of Blue Mountain Rentals, established in 2011. As well as being a devoted mother of 3 toddlers, she provides over 20 years of clerical experience to her clients. Her background includes processing employment, tenant screening, background checks and working as a property manager and payroll clerk for a major telecommunications corporation.
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