Eating into some inventory?More of the same trend continues...homes available for sale, 2840 in the area I focus on, with 3814 in all Clark County. Pending is impressive with 810 currently, and a whopping 1011 for Clark County. Yeah, but...Sales for the last week? 65 in Vancouver area, and 79 for all the county.
I'm seeing my daily numbers of new and back-on-market decrease in relation to the number I see go to pending or sold status each day. That suggests we are ever-so-slowly eating up that huge inventory. This could be a beneficial trend for some.
Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you make the best choice in Vancouver Washington. The Natural Choice in real estate is working with a professional real estate agent (me!) at Krogseng Real Estate who listens to your needs and works as a trusted advisor to get the best solution to your housing needs. We will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, the natural choice in real estate will be someone that can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit Krogseng Real Estate for more information.
WOW! I've missed a couple of Mondays. Honestly, I have been so (happily) busy with real estate, I've lost track of time. Trends, even without my monitoring, have continued. Current number of homes available is 2991. That is down from the last measurement I did which continues the general market trend but goes against the seasonal trend typical for spring. Hmmm...something to think about. We have a still increasing number of pending sales at 797 homes with accepted offers. Weirdly enough, last week 50 homes actually 'closed', transferring title to new owners. That is the same number I measured on 5/11. The number of closed each week varies and I'm not sure why it isn't more consistent as a ratio of pendings. I am curious to see what effect the 4 day weekend has on the closed count next week. The Clark County numbers are not dissimilar in trends - 3984 available, 994 pending, and 61 sold last week.
Does this suggest sellers hold on prices when they've been on the market for a while? No, I don't think so. Buying behavior is still for buyers to hold for the bargain. Of the just less than 800 pending sales, 351 are either bank-owned or short-sale (or guardian). Consider the 50 sold last week - 12 were bank owned and 15 were 3rd-party (short-sale). So - who's controlling the pricing? Banks, still. And they want those properties sold.
Many buyers are under the impression that there is a requirement to make offers way under asking price. If the property is over priced, this may be a reasonable strategy. If the property is well priced, then you may lose out by putting in a low-ball offer. You lose time, at the best of it, and probably lose entirely to someone who puts in a fair offer. Oh - and don't sit around thinking about it. The well educated buyer has seen what's available and they are putting those offers in quickly.
Are you thinking about selling? If you are, call me and let's examine where on the market your home will be positioned. Enough buyer and REALTOR experience with short-sales makes normal homesales more attractive (all other things being equal). Thinking of buying? Better yet, ready to invest? Everything is still working for buying - interest rates, pricing, certain lending incentives.
Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you make the best choice in Vancouver Washington. The Natural Choice in real estate is working with a professional real estate agent (me!) at Krogseng Real Estate who listens to your needs and works as a trusted advisor to get the best solution to your housing needs. We will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, the natural choice in real estate will be someone that can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit Krogseng Real Estate for more information.
Okay, so if you've been waiting on pins and needles for this report, then you'll notice it's actually Wednesday already. A couple of reasons this didn't get out on time relate to the relative rush to buy in our local market. There is an increase in homes that have accepted offers on them - 749 today, which is up from 715 last week. More on that shortly. A change in this week's numbers is that there are more homes active for sale this week - 3036 compared to 3022 last week. This is the first time in many months that this number has been higher than the week before. Not too alarming since this is seasonally the time of year more sellers put their homes on the market. And the last number, the number sold, is 50 for the last week, and that's down from the previous week.
So what's going on? Well, I've been suggesting buyers should get active for several weeks. Now, personally and more from other agents, buyers are finding themselves in competetive positions. I'm experiencing situations where my buyer's offer is one of 3 or more pretty regularly. I've heard of one property that received a dozen bids in one day. On the other hand, I'm seeing some homes languish on the market for months because they aren't priced right. And, no - if your home isn't selling, it isn't "because of the market". Never has been the issue - if it's not terms or condition, then it's price - your price.
Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you make the best choice in Vancouver Washington. The Natural Choice in real estate is working with a professional real estate agent (me!) at Krogseng Real Estate who listens to your needs and works as a trusted advisor to get the best solution to your housing needs. We will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, the natural choice in real estate will be someone that can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit Krogseng Real Estate for more information.
I'd say the market momentum is continuing. There are fewer homes available: 3022 this week. Just a couple fewer in pending at 715. And, get ready, a whopping 83 home sales completed. Yep. That's a big bump.
The numbers for all of Clark County - 3978 active, 897 pending, and 102 closed last week.
But Sellers, don't go raising those prices just yet! I noticed something in the numbers - of all the active homes available, there were about 30% that were either short-sale or bank-owned. Then, in the pending status, about 40% were short-sale or bank-owned. And then, of the homes that sold last month, about 51% were either short-sale or bank-owned. An additional interesting point is that the ratio of short sales that were in the short-sale and REO sold mix was about 45%. Did I get carried away with the numbers? This information suggests that price pressures are still pushing sales prices down.
Trying to sell? Pay attention to the market messages. The strongest signals come within 2 weeks, and if you haven't gotten an offer within 60 days (without a price change), your chances of selling are SLIM. Like 2% to 10% possible. If you aren't getting showings within a couple of weeks, DROP THAT PRICE! *I'm supposing you are providing easy access to the home and keeping it in great condition.
Buyers, don't get too certain! More and more often, buyers are too late or in competing bids. Notice too, there are fewer homes to choose from. So, while the prices are still coming down, good deals go quickly! And see a house you like? Put the offer in.
Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you make the best choice in Vancouver Washington. The Natural Choice in real estate is working with a professional real estate agent (me!) at Krogseng Real Estate who listens to your needs and works as a trusted advisor to get the best solution to your housing needs. We will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, the natural choice in real estate will be someone that can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit Krogseng Real Estate for more information.
When someone asks me how the market is, I can tell them that it is getting much more active. "Oh, so it's getting better!", they say. Well, I guess that depends on what you mean by better. If you're a buyer looking for a screaming hot deal, then maybe it's not getting better. If you're a first time homebuyer with limited funds, then it's probably not getting better. If you're a hard working real estate agent providing service to home sellers and home buyers, then it's getting better!
Here's what happened last week - the number of homes available continued to decline - now at 3035, down from previous week. The number of homes that are in pending status crept up to 717, up from previous week. Clark County total available is 3988, also down and total pending sales in county is 905, up from the previous week. That has us about 4 homes available for every one that has an offer. I do think it's a good thing that our closed sales are up greatly from 55 to 71 for the past week. That would be 77 closed (sold) in the whole county last week. That's movement toward munching up some of that inventory we have hanging around.
I don't know if this is the bottom or not, but it's getting busy out there. If you've been thinking about getting into real estate, or maybe thinking you might need to sell, then call today for an appointment. Get in on the action! Much of the cyclical market activity is going to tend to peak in June.
Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you make the best choice in Vancouver Washington. The Natural Choice in real estate is working with a professional real estate agent (me!) at Krogseng Real Estate who listens to your needs and works as a trusted advisor to get the best solution to your housing needs. We will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, the natural choice in real estate will be someone that can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit Krogseng Real Estate for more information.
Looking for real estate in walkable communities, green-built or energy-efficient homes, and homes that are part of sustainable lifestyles? The natural choice in real estate is right here!
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