All Forum Posts by: Account Closed

There are 722 homes for sale in Spokane, WA, 98 of which were newly listed within the last week. Additionally, there are 305 rentals, with a range of $350 to $7.7K per month.  Here is the latest Spokane Association of Realtors January 2022 home sales report. 

Quote from @Michael DeHaan:

I recently bought a 5/3 SF with a 1/1 mother in law suite that would be great for an FHA house hack in Spokane Valley.

1950's built, reasonably updated with some funky flooring/hardware from the previous sellers that we are working on.

A young couple could live in the 1 and 1 and pretty much live for free renting out the big house or could live in the big house and AIRBNB the 1/1 and do well.

Was planning to list for $499k here soon, but if you want a shot off market feel free to send me a message. 

Have you listed?  Just saw your comment.  Doing a 2nd dwelling mother-in-law house hack is our plan, "B".  Unfortunately, there are not a lot of properties with a secondary dwelling.  We have even resorted to our plan, "C" which is just a starter home to get going.  We have sent offers and been very competitive (backup offer) when going about $30K over asking price.  

Thank you all for your comments!  We are still on the search.  3 Duplexes actually just hit the market in Spokane Valley, WA. 

It's official. There are no more Duplexes in the Spokane Area that one can buy on an FHA Loan. A few have shown up this past month, but they all require cash or conventional financing. The prices on multi-family homes all are getting bid up to the moon!

15207 E. Valleyway Ave, Spokane Valley, WA 99216 would be a decent first-time home buyer purchase. It's already received 8 offers in less than 24hrs. and has ended accepting offer. The list price was $450K and it has been bid up to $540K. Good luck out there and please feel free to share any multi-family homes that qualify for FHA financing under the new 2022 FHA Loan Limit of $538,650.

Recent Redfin Market Survey of Spokane Valley, WA for January 2022.

My boyfriend Steve Labrenz and I moved to Spokane Valley, WA after living in Alaska for 5 years. We are first time home buyers looking for a multifamily property to begin house hacking. We've done the duplex life for years as renters and are eager to be on the other side as owners!

We are back on the horse after the holiday's and we are hoping to be moved into a multifamily late winter/early spring. Ideal neighborhoods are Spokane Valley, Greenaceres, Millwood, Otis Orchards, Veradale and Trentwood. 

Looking for input from others that have been on the hunt and have any salient advice for this hot market!