Homeowners Who Can’t Sell Turning To Other Methods
SPOKANE — More bad news for the housing market, as experts with the Washington Center for Real Estate Research say the number of homes sold in Washington continues to slide.
The sale rate of homes is down a third from this time last year, making it difficult for sellers to get their house off the market.
One Spokane homeowner, whose home is among the thousands up for sell and going nowhere, is trying another way to get out of his home.
The home is one of many where the owners had planned on selling it but couldn’t. So now they are resorting to renting it out.
Mark Parker and his family live in a South Hill home on the corner of High Drive and 29th.
“The location is spectacular,” he says. “So we, um, bought it for the purpose of just remodeling and living here for a long period of time.”
But a number of months ago, the Parkers put the home up for sale.
“People told me it would be tough to sell a house in your price range,” Parker says, “and it looks like they were right.”
It’s a $500,000 home, with an asking price of $439,000.
“None at all,” Parker says when asked if he’s had any offers. “No offers at all.”
So now the five bedroom, four bathroom house, complete with a sunroom and what Parker calls a beer and beef room, is all up for rent.
“No, we don’t like the idea, but we really feel like we need to downsize,” says Parker. “Obviously, the home is in really nice shape, and renters some times can beat up a home, but we are gonna do what we have to do.”
The Parkers are not alone. In fact, many home owners are struggling to sell their home and looking for ways to get rid of them.
“Obviously the market is in a down cycle right now,” Parker says. “A lot of people are suffering along with us trying to sell their homes and not able to sell their homes.”
For now, the Parkers will wait, hoping the perfect renter or buyer will come around.
“It blows my mind,” Parker says. “I thought I had a really nice house in a really nice neighborhood, close to everything, thought there would be a lot more action then there was.”