Home sales are down in the state of Washington during the second quarter when compared to last year during the same time. The median home sale price this year in the second quarter was $265,100 down 9.2% from last year. These numbers though are improvements from the first quarter. The second quarter increase is attributed to the $8,000 first time home buyer credit. The median prices fell in every county but Yakima, Benton, and Franklin counties. In the Tri-Cities the median sale price of a home is $163,900, up 0.3% from last year.

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Once again, a city in Tri Cities is featured in a "Best Of" list. This time, Richland received the nod for being #51 on Money's list of America's best small towns for The Best Place To Live. No small feat as #51 of perhaps 1000s of cities in the United States!

Colleen Lane, Broker, Realtor® of the Lane Real Estate Team. Our new search is the best in Southeast Washington!

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There's never been a better time to get an FHA home loan.

These high-benefit loans are making a comeback during the lingering recession. Thousands of prospective homeowners are turning to FHA loans to achieve their dream of home ownership.

In fact, the FHA set a monthly record in June, guaranteeing almost 186,000 mortgages. The agency has insured more than 34 million properties since its inception in 1934.

"A primary reason government-insured loans have retained a high share of the purchase market is that these loans typically require lower down payments than conventional loans," Orawin Velz, associate vice president of economic forecasting for the Mortgage Bankers Association, said in a news release. "In addition, lending…

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  Total Number Active Residential Listings* Total Sold

Average Sold Price Median Sold Price Under Contract*
January 2008 1210 186 172.8 164.0 140
February 1319 191 193.9 165.0 183
March 1344 249 189.2 163.6 205
April 1344 257 181.7 159.9 233
May 1388 301 189.3 161.0 198
June 1404 333 196.9 171 211
July 1433 298 202.5 178.1 175

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