A Home Designers View of the Spokane Housing Market

Top 3 Things to Know About the Spokane Housing Market:

1. In our market, the developers have wrapped up the new land and house into a bundle. They mass produce fast food-like projects. Traditional lot for sale for custom builds are very limited to big acreage parcels and short plots. Existing real estate and new subdivision developments make up much of the market. Housing is in short supply and cookie-cutter houses are going for inflated prices.
2. Home buyers have trouble distinguishing the quality of custom-designed homes. Real estate appraisers do not fully value quality materials, design, insulation packages, active solar, passive solar, and energy-efficient HVAC systems. Instead, it is more weighted to dollar-per-square-foot estimates. Lenders are unwilling to lend on true cost but depend on the appraisers and further cheapen high-design and quality materials to just numbers on a page. 

   

   Refreshing styles that clients desire. Modern Farm
   House, Barndominiums, and Mid-Century Modern
   have all connected with home-buyers in recent times. 

3. Possible solutions educating and befriending clients and key stakeholders in the industry about the distinctive factors in valuing a home's worth. These factors include the hard costs plus the intangible values of high design.

Education on the value of design could take a number of forms. Befriending sub-contractors making the transition to semi-custom and custom builders. Working with developers to make their models more competitive in the emerging buyer-driven market. Assisting appraisers with assessing real-world costs on existing and new homes. Develop a local group to publicize and award on a monthly basis for style, additions, energy efficiency, detailing, color schemes, and material for new and architectural significant works in the community. A rising tide lifts all boats.

Promote and adopt new technology and methods for quality and cost benefits. Designing for panelized construction, developing BIM cut sheets and estimates for the local residential market, and staying abreast of new materials.