Jeannette Karis, President
Spokane Association of REALTORS®
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For several thousand Spokane families, this is their first Christmas season in their new homes. They have decked the halls and now are celebrating with loved ones gathered around.

Somewhere between 4,600 and 4,700 county residents will have bought new homes in Spokane before the year ends, because of inherent long-term value and the quality of life here (as well as favorable interest rates and federal stimulus tax credits for many buyers). That number compares to 4,910 homes sold in 2008. Considering nationwide headlines, that’s great news for a higher-than-anticipated number of qualified area homeowners, and very good news for our local economy too.

As my colleagues and I spend cherished holiday time with family and friends in our homes, my year as President of the Spokane Association of REALTORS® is coming to a close. We hope we have given you timely information about the Spokane real estate market. Each week, my goal was to offer readers insights on the value of homeownership, and to highlight the professional services you may rely on from Spokane REALTORS® who work diligently, and who passionately enjoy all this region has to offer as residents themselves.

Real estate markets across the nation varied widely this year. Volatile economic and employment conditions challenged consumer confidence just when the stimulus tax credits kicked in and when historically low interest rates made the strongest case for homeownership in decades.

In response to market conditions, this year was a year of big change. Often, sheer determination by area real estate professionals made the business happen, but they were not alone in their efforts. I have personally witnessed the hard work of hundreds of my peers and affiliated industry professionals on behalf of their clients. Together, we have skillfully managed to navigate through layers of this year’s changing industry dynamics.

All of these changes occurred in 2009: Tighter lending qualifications, fewer loan products, changing appraisal guidelines, both the first and second waves of government stimulus tax credits, more disclosures for greater consumer protection, extended transactional contingencies, statewide real estate document revisions, as well as big changes in consumer information preferences, and a boon in industry technology and web search tools.

It has been said before that real estate typically leads the economy out of a recession. As we have over the past 99 years, Spokane REALTORS® continue to serve the public with trust and skill. Equally important, our Association leadership has served the professional interests of our REALTOR® members with trust and skill.

In 2009:

• We welcomed 154 new REALTOR® members across the Spokane region.

• We approved 9 new LIFE members (those 65 or older with 25 continuous years of membership).

• 72 members obtained professional designations this year.

• 607 members attended 38 education classes taught by state-certified real estate instructors at our Association office.

• 576 members attended additional off-site classes that we sponsored.

Three new valuable consumer web sites were launched by our local, state and national REALTOR® Associations, in response to demand for more real-time real estate information, and we prominently featured them here in numerous articles. They are www.SpokaneOpen.com, www.WaHomeowners.com, and www.HouseLogic.com. You are invited to check them out and bookmark them as favorite real estate resources.

I am proud to have served the public and my colleagues as President of the Spokane Association of REALTORS®. Ed Clark, a well-known local public relations professional who assists our Association, recently quipped that “in these times, buying a home without a real estate professional is like trying to play a game of baseball without a pitcher.” I can’t imagine that!

Starting January 1, 2010, Linda Miller of Prudential Spokane Real Estate will be President of the Spokane Association of REALTORS®. She will continue as our Association voice for local real estate. Watch for a welcome message from Linda in January, and great articles continuing in the coming year.

Finally, I must thank The Spokesman-Review for featuring our regular real estate column. Bringing the year’s information forward has been immensely rewarding to me. I appreciated hearing from everyone that wrote in with thoughts and questions.

My wish for all is health, prosperity and peace in the new year. Moving forward into 2010 together, I invite you to contact a Spokane REALTOR® today.

Jeannette Karis can now be reached at jkaris@spokanehomes4u.com or at her office, RE/MAX of Spokane.