Some Spokane Homes Selling at a Loss

When you have to sell, for whatever reason, in a declining market losses can happen if you haven't owned the property long. I believe Spokane real estate prices have held up much better than other parts of the region and country.

clipped from www.spokesmanreview.com 1 in 10 Spokane County homes sold for loss, report says Shawn Vestal Staff writer November 13, 2008 A tenth of the people who sold homes in Spokane County in the past year sold them for less than they paid originally, according to a new national report. And home values in the county dropped by 9 percent in the past 12 months, with an estimated 85 percent of all homes declining in value, according to a report prepared by Zillow.com, an online site that compiles and analyzes real estate information. Other real estate reports, however, indicate the decline in value is less than 9 percent. Either way, the picture in Spokane County is much better than in the rest of the country, the Zillow report says. Nationwide, almost a third of all homes sold in the past 12 months went for a loss, and rates of foreclosure and homeowners with negative equity nationally outpaced the rates here.