Numbers keep going in the same direction - 3043 homes available, 
down from 3071 last week. (Clark County total - 3991). Homes under contract 694, up again from last week (Clark County total - 893). And the good news is that homes-sold bumped up to 55 from 31 the week before (Clark County total 70).
I was recently asked about the market and whether or not I thought it was getting better. Well - what do you mean, 'better'? There's more going on, but if you're a buyer, it's not getting better. In fact, if you're a buyer, your choices are getting slimmer...
Is 'better' meaning have buyers finally started to act on low interest rates and broad inventory? Have sellers who aren't serious about selling gotten off the market? Then, the market is definitely getting better.
Here's something interesting...bank owned or 3rd-party approval required (predominantly short-sales) account for about 25% of the homes available for sale, and account for approximately 54% of the homes that sold last week. Of the homes currently pending, there about 43% that are either short sale or 3rd party approval required. Why's that so interesting? Well, it shows whose price is controlling the market, I think. I'm pretty sure more short sales are selling too, which shows the banks are serious about not owning real estate. This difference might also be affected by the fact that there are fewer homes available. Maybe it points to loan modifications too? Either way, I think the glut of homes on the market is being slowly eroded right now. The majority of sales are still under $250,000 price point.
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.
Finally, the local news is printing good news about our market here. I worry though that they are getting a bit too ebullient. I will say, there is every evidence that the market is getting more active. Here's what I'm seeing in the Vancouver area that I work: active listings moved to 3071 from 3104, so the trend continues to fewer available listings. More homes are in pending status - 641 from 589 last week. That's a trend that has been going on since January. However, and here's where I think we need to pay attention - 31 closed sales (actual property transfer) last week, down from 51 from the previous week.
There is a backlog of property in the pending status. I'm hearing from lenders that part of the problem is the time it takes to get appraisals ordered and reviewed. There is also a crunch from the number of requests for re-financing. Plus, there are some agencies (and I will name names when I get my broker's okay) that are just sloppy and unprofessional that aren't doing their jobs and are mucking up the whole process.
In short, buyers, get cracking, because the market is moving! What I've learned is that a market shift happens quickly. I don't think we're there yet, but in case I'm wrong, don't be wasting opportunity. Sellers - buyers have their hands in their pockets - don't make it tough on them by holding onto unreasonable price expectations!
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 at the trends in the RMLS monthly report, you would expect to see an increasing number of homes for sale, but that's not happening right now. This week there are 3104 homes for sale, down some from last week. Meanwhile, the number of homes going under contract continues to increase; up to 589 this week. So, this steadily increasing number of homes pending - you'd think we'd see some more gains in closing numbers. Not so - just 51 recorded sales this last week. That's right in the range it's been for the last several months and actually lower than the prior week.
My guess that means the pressure on pricing is still downward. And, in spite of those increasing pendings, I don't see how we can be putting much dent on the inventory. But, with 30 year fixed at 4.75% , buying has got to start happening more!!!! Anyone not buying now is going to be forever saying "Darn! I wish I'd bought back in the spring of '09!"
Don't you be the one saying "I wish I'd called Lynn sooner!" Call me today and I'll help you find the best property for you, your lifestyle, and your money.
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 Kroseng Real Estate for more information.
I met my dearest aunt and her cousin for a visit to the museum. My first visit to it, and I was really pleased. We got through just part of the museum and saw the Native American Art exhibit. It was great. An incomplete conversation about 'what is art' came up between me and the cousin. My aunt is an artist, and the cousin and I have appreciation of art. I think it changes what we are individually going to accept as being 'art'. The conversation was spurred by a display, which looked to me like four square panels that had a single color of paint on each of them. It seemed less like art that what my wall would look like when I'm choosing paint colors. However, it was pleasing and it was hanging in the museum (does that make it art?).
What is art? It's not the most important question of the day, but it is fun to ponder. And don't stop at defining visual art. Consider music. Or even define music.
I'm open to discussion on this. Let me know your art thoughts.
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 Kroseng Real Estate for more information.
So I was working on some prices recently, trying to make sense of what I'm seeing with these numbers. The term 'Price Rollback' came to mind. Rollback to 2004. I'm almost afraid to suggest that the market activity is improving the scene for sellers, because while I think it is getting better for sellers, it's getting better for sellers who don't try to get 2006 prices! If you're going to sell, you're still selling where the buyers are setting the price.
On with the numbers...This week there are 3143 homes in the market (again, the region I watch is not all of Clark County). That's still trending down and is less than last week's 3215. The number of homes in pending status (not on market, not transferred) is 579, which is the same as last week. And, ta-da! - the number of homes that closed was 59! This is not an unusual ratio for this time of year. It is a sign of a more active market and no doubt reflects the availability of low interest loans as well as the summer move cycle.
More than half of the market activity is still in the prices below $250,000. But it's the busy half.
If you're considering your first home purchase, or maybe your first investment property, call me today to find out what might be the smartest move for you here in Vancouver, Washington!
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 Kroseng 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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