What you need to know when buying homes for sale Pasco, WA.
Background:
When looking for homes in the Tri-cities, look for homes for sale, Pasco, WA. In the heart of Franklin County located on the Southern hills of Washington State in the US you will find the beautiful and historic Pasco city. Pasco is one third of the Tri-cities region with the Columbia River bordering it on the south and separating it from its neighboring cities, Richland and Kennewick. These three cities make up a medium sized metropolitan area, housing and approximate average of 230,000+ people. Pasco’s population has grown from 59,781 in 2010 to 70,560 in 2016 when the last census was done in April. This figure is amazing when take into account that Pasco city itself is less than 150 years old. As a result of it being located in south eastern Washington, it finds itself in the Cascade Range and its rain shadow. The result of this its location is that it is a windswept area with little precipitation during the year and proving to have warm springs, hot summers and the winters tend to be cold. Temperatures average around between 37 and 47 degrees Fahrenheit during winter months, while summer months an average temperature of between 72 and 86 degrees Fahrenheit can be expected. An average of 9.41 inches of rain can be expected each year.
The financial market:
Due to several large companies, specializing in the food processing industry, have made a presence due to the rich agricultural region that Pasco is located in. The fertile grounds have lead companies such as ConAgra Foods, Reser’s fine Foods and a company called Twin City foods are but some of the more popular name brands that can be found here. This agricultural region also provide the perfect environment for the wine industry and companies such as The Gordon Brothers Cellars, Preston Premium wine, Kamiak Vineyards and Fidelitas Winery have taken advantage of this. Other big companies that contribute to Pasco’s employment rate are The Hanford nuclear facility, Boise Cascade Lamb Weston, Energy Northwest, Tyson Foods, The Pacific Northwest National Laboratory and The Bettelle Memorial Institute. Having the fastest-growing job market in 2016, the Tri-cities had an annual growth rate of 3.6 percent. With 3,800 jobs added to the economy in 2016 alone according to a report from the Washington Employment Security Department, the Tri-cities are a booming industry. Companies such as AutoZone, who are building a new warehouse in Pasco will provide 200 additional jobs this year and Lamb Weston, are adding a French fry line in Richland that will provide a further 100 jobs. The growing population is attracting more professional services in the leisure & hospitality industry as well as in retail. With a number of other available positions in the employment sector at the moment, the economy of Pasco is expected to stay on the increase.
The housing market:
Being one third of the Tri-cities, Pasco offers a wide range of houses available for both purchase and renting options. Most houses for sale within the Pasco area are modern with between 3-5 bedroom and 2+ bathrooms. These housing options also range between newly constructed houses to pre-owned. Average housing prices for houses on sale are $179,300, but could go up to $477,000. Recent houses sold in the area ranged from the lowest selling price of $71,569 to $477,000. Although home values will rise by 6.7 percent in October, lower priced markets will continue to thrive. It is predicted that the number of homes for sale will continue to decrease, but that home sales will move even faster because of this. The reason for this being that renting rates for homes will be on the rise causing more of the population to buy. Due to renters missing out on the benefits such as tax benefits when owning their own home (because they are paying premium rental rates), many people will find themselves drawn to the option of buying instead of renting in the area. Due to the thriving economy and high density of schools in the area, houses for sale in Pasco can generally be described as family houses due to the number of rooms and size of the houses. Although it is estimated that certain markets in regards to real estate will spike, the Tri-cities are said to retrain its constant growth, because the demand currently for highly educated people and employees are at an all-time high and is expected to remain consistent. 2017 is also predicted to be the year that house prices are not expected to reach their peak, although there is no solid prediction available for the price inflation or what could be expected.
As a home buyer:
When deciding to become a home buyer it is highly encouraged to appoint an agent to represent your interests. They help you negotiate the best prices and terms of your purchase. In the event that you are buying directly from an owner, the agent representing the owner will place the owner’s interests first and first time home buyers might not have the knowledge and skills to make necessary negotiations. Houses for sale within the Pasco region are divided into certain categories to make selecting a house easier for the buyer. Examples of these categories are: Houses with hardwood floors, Houses in safe neighbourhoods, Houses with pools, Houses with remodelled kitchens, Houses under $220,000, Lofts, Luxury real estate, new constructions and houses for sale by owners. Houses for sale in Pasco can be bought in fourteen elementary school districts, 3 middle school districts and 2 high school districts. Neighbourhood districts are divided into four main districts which include Pasco Central, Pasco North, Pasco East and Pasco West. Houses in these areas vary in selling price with Pasco East being the least expensive and most house prices being reduced. Selling price here averages between $80,000 to 4239,900. In Pasco Central you can expect to buy a house in between the price ranges of $85,000 and $199,000, while in Pasco North houses for sale go anywhere between $209,00 to $997,000 dollars. The most expensive are being Pasco West with houses selling from $160,000 to $1,628,982 in this area.
Why choose to purchase a house in Pasco?
Recent trends show that Pasco forms part of a strong economy that is currently thriving and showing no signs of slowing down. Due to this trend it is becoming an even greater appeal to foreign buyers. 51 percent of deals in New York, California and Washington are deals made with Chinese investors or buyers proving that it is the ideal place for real estate investment. The Columbia River communities have been experiencing an upward surge sue to the wine-growing regions around the area. The population consists of educated residents making up for 31, 9 percent with a household income of $59,478. Residents can further be further divided into groups consisting of 22 percent being single residents, 70 percent of them are home owners and 29 percent being of median age. The Pasco area is also home to three elementary schools, three middle schools and three high schools all receiving high ratings and reviews from satisfied parents within the area. Most residents (97 percent) commute by car, but public transportation is also readily available. The Tri-cities airport calls Pasco its home and is served by seven airlines for both regional commercial flights as well as private air support with flights flying direct to nine of the major US cities. Public transportation also comes in the form of Barges and railway lines.
What attractions do Pasco offer?
Pasco offers a variety of annual activities and exciting events each year. Some of the more popular events being The Annual Pasco Farmers market, hosted in downtown Pasco. The market starts at the beginning of May through October providing local farmers with an outlet to sell their fresh produce to the large crowd of the region that the market draws each year. Other activities and events includes the food festival called, The Fiery Foods festival, is held in September to celebrate spicy food of all varieties. This festival celebrates the thriving Hispanic community that calls Pasco their home. Baseball is another favourite in this region and the Tri-city Dust Devils (Baseball club) hosts the Northwest league in the Pasco stadium each season. Hiking and biking trails are also hosted here and provides and interactive, Fun filled, recreational and educational activities for all to enjoy. Several waterfront parks make out part of Pasco’s attractions and offer river access to all boaters and fishers for free as well as providing an appropriate environment for skiers. Although Pasco is still developing and growing compared to other cities in Washington and the US, it also offers a host of other options such as a state park, called Sacajawea State park. Movie theaters, historical museums, Golf courses, Pubs and wine bars are just some of the poplar attractions this lovely city has to offer. Restaurants within the Tri-city area receive high review from customers and the menus are very diverse and include a variety of dishes from many different cultures. Many other businesses such as pharmacies, grocery stores, coffee shops, gas stations etc. They have also set up shop in this area, making life for residents easier as they do not have to travel to other major cities to fill their daily needs.