The 2023 Tri-Cities Parade of Homes is going on right now! If you haven't seen some of the beautiful homes in our community, you still have a few chances left. The homes will be open for viewing on September 13th from 1:00 to 7:00, and again on September 16th and 17th from 9:00 AM till 5:00 PM.

We're particularly proud of our Olympia plan with its modern elevation and finishes. Please take some time to dig into the photos below.

You can take a virtual 3D tour here.

You can learn more about this amazing home by contacting the sales team here.

And you can learn more about the 2023 Tri-Cities Parade of Homes here.

Enjoy!

According to a recent article published by Houseopedia.com, over 80 percent of prospective home buyers start searching for a home online. The only surprising thing about that statistic is that the percentage is so low.

But beginning a home search online is very different than trying to do it yourself instead of using a real estate agent.

Agents are experts in housing, they’re current on the legal requirements of the transaction, and are professional negotiators. And don’t forget the value of their professional networks. Inspectors, lenders, title companies, and even reputable builders and contractors. If you’re moving to a new area, this expertise becomes even more invaluable.

One last thing, it doesn’t really save you money to buy a house without a real estate agent. Since they’re typically paid by the home seller, you’re not paying for those services anyway.

There are a ton of agents out there and choosing one can be a little overwhelming. So ask around for a good recommendation. We recommend the teams below in Boise and the Tri-Cities:

In Boise:

John L. Scott

Ryan Kerfoot

RyanK@johnlscott.com

(208) 703-5446

Carlos Bendeck

CarlosB@johnlscott.com

(208) 867-7302

Craig Severson

CraigSeverson@johnlscott.com

(208) 949-7951

In Tri-Cities:

Retter & Company / Sotheby’s

Greg Johnston

greg@rcsothebysrealty.com

(509) 539-3834

Jason Barrow

jb@rcsothebysrealty.com

(509) 308-2102

Once you decide to buy a new home you get to make all kinds of fun decisions – Which neighborhood? One story or two? Quartz or granite counter tops? Painted or stained cabinets? Shiplap? The list goes on and on.

One decision that’s not as fun (and very unlikely to be inspired by HGTV binges) is who to select as a mortgage lender.

There are countless financial institutions who want to lend you money for your next home purchase, and it’s up to you to do your research. Check with friends, family, and existing bank relationships.

But as part of your research, you should also ask your home builder who their preferred lenders are.

A builder’s preferred lender is simply that – an institution that your builder prefers to work with. This is a lending team that your builder trusts to understand the intricacies of new home construction in your area. This is a group that already has a relationship with your builder, has financed other projects, and has already cleared the hurdles your loan is likely to face.

What this leads to is closing your home on time. This means you get the keys and can move in when you plan to!

For instance, if your appraisal is delayed your closing can get pushed back a week or more. A preferred lender will have experience with your builder; your city, county, and neighborhood; local appraisers; and will understand any unusual wrinkles you may face.

Also, a preferred lender often offers special incentives to home buyers. For instance, all Riverwood Homes preferred lenders offer a 1% credit to our buyers!

So do your homework, ask around, and collect quotes. But be sure you ask about a builder’s preferred lender as part of this research.

Riverwood Homes has two great lending partners we trust.

In Idaho, it’s Mark Onnen with Homebridge.

In Washington and Oregon, contact Keith Hobart with Peak Mortgage.

This month's market report from Windermere Real Estate in Tri-Cities illustrates the trends we've been seeing in the residential real estate market. Prices and sales volume are rising while available inventory is shrinking, driven by basic supply and demand dynamics.

Some buyers may wonder whether current market conditions are sustainable or whether we are simply seeing another real estate bubble form. We at Riverwood Homes are encouraged at the quality of buyers that we are seeing now compared to what we witnessed during the "pre-bubble" era. Buyers now are more qualified and less speculative in nature. The increase in sales are a result of pent-up demand from the lean years when people were unwilling or unable to purchase a home, and now the market is catching up. This increase in demand for housing is now driving the supply down to extremely low levels. Fewer than 500 homes - new and used - are listed for sale, while the historical average is well over 1,000 listings at a given time. Given the lack of available supply, it is only natural that homes are selling more quickly and for a higher price than they were when more houses were being listed for sale.

We encourage buyers to assess market conditions on their own but not to be too alarmed that prices have risen. It is the natural result of market-driven supply and demand economics, backed up by qualified, owner-occupied buyers.

On Wednesday, February 3rd, Riverwood Homes will be opening our new Tri-Cities office! It will be located in south Kennewick at 4304 West 24th Avenue. Included will be a show room and design center that will simplify the selection process for our customers allowing them to visualize their design selections in one easy stop.

Establishing a permanent office in Kennewick confirms our commitment to becoming one of the top home builders in Tri-Cities. In addition, our new location in south Kennewick offers easy access and a central location for our customers traveling from Richland, Kennewick, Pasco, and Boardman, OR.

We hope that you’ll stop by our new office and show room and tell us what you think!

The Fiscal Times recently published an article about ten real estate trends coming up in 2016. Some highlights from the this article include:

• Home prices are expected to continue to increase slowly, 3.5% throughout 2016
• Interest rates should slowly inch up through the year as well. However, according to the Mortgage Bankers Association, the 30-year mortgage rate shouldn't exceed 4.5% - still a very low rate compared to historical numbers.
• It will remain cheaper to buy than to rent. Buying is cheaper than renting in every one of the country's 100 largest metro areas and that disparity will likely grow accoring to Rent.com.

So what does that mean for homeowners and renters in Boise, Idaho; Tri-Cities, Washington; and Boardman, Oregon? It means that 2016 could be a great time for you to sell your home or leave the rental market and purchase a move-in-ready home or begin thinking about your to-be-built house!