Relocation Tip

When relocating always check out the neighborhood schools and the neighborhood itself during the day, on weekends and evenings. Even talk to some of your potential neighbors.

This might seem obvious, but I have seen over and over where the last consideration is the school system.   They purchase what they consider to be the perfect house and regret later their decision because of poor schools or noisy neighbors.

I can guide you to a point, but ultimately it needs to be your decision.

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What is simple definition of a condominium?

Condominiums come in many shapes and styles. So when shopping keep the following in mind.

A condominium is a collection of individual homes (Townhouses)  or “apartments”  In all actuality, the entire complex is the condominium and each living space is a unit of the condominium. But we have come to call each unit a condo.

Individual home ownership within a condominium is ownership of only the air space confining the boundaries of the home. Typically these boundaries will include the drywall surrounding a room, allowing the homeowner to make some interior modifications without impacting the common area.

Anything outside this boundary is held by the homeowner’s association which was established at the time of the condominium’s creation. And it is that Homeowners Association that is responsible for the upkeep. This upkeep of the landscape and buildings along with the amenities are paid for by Homeowner’s Association fees.

For many young professionals and  retirees this is the choice of lifestyle. It is a much more carefree style of living with no worries about any outside maintenance concerns or costs and the advantage of many outdoor activities such as swimming and sometimes golf courses.

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First Time Buyers should look at fixer uppers

First-time home buyers who want to purchase an affordable home may want to take a hard look at the many fixer-uppers out there on the market today.   In the past, the first-time home buyers were more willing to purchase older and more basic type houses, and even those that needed repairs, in an effort to save money and break into homeownership.  It seems like the last decade or so, the first time buyers are out to get the biggest and the best.

It is important for first-time homebuyers to remember that by considering a fixer-upper, or older home in need of some repairs, for their first home purchase, they can build equity over time, and sometime much faster, and then later move up and into their second-stage home that better reflects their expectations.

Buyers looking for affordability who go with the fixer-upper option should get the home professionally inspected to determine what fixing up is necessary, and certainly not bite off more than they can chew. Even homes that need a basic face lift, like paint, carpeting, landscaping, window treatments and other cosmetic touches, can cause the home owner to come out with big savings. Homes that may require professional upgrades cost even less, but the buyer has to weigh the discounted price against the cost of the improvement. 

Homes nearer job centers cost more because of the added value of reduced transportation costs and time (which is money) spent commuting.  However, buyers can enjoy the best of both worlds if they purchase a cheaper home away from job centers, but in a transit oriented community or home development, or other distant community that offers low-cost public transit to work. Carpooling, trip sharing and car sharing communities boost the idea of affordable housing.  This is a dynamite idea that should really be looked into by many first time buyers.

Take the time to find affordability. Discounts were more likely available from homes that had been on the market for 90 days or more; homes for sale that were owned by long-time owners; homes for sale from flipping investors down on their luck; and properties owned by we-want-to-sell-real-estate banks who now know what it means to be careful what you wish for.

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Investor Opportunities in Vancouver Neighborhoods

Be sure you check out one of the many many neighborhoods in Vancouver with desirable real estate investment properties.  Many are ‘fixers’ and indications are that the experienced investor is finding properties at the local auctions with good potential profit ratios to either ‘flip’, or keep to rent out. Rosemere is one neighborhood with many ‘fixer-upper’ homes, bungalows and cottages; some priced at below $150,000.  This neighborhood is close to downtown shopping and entertainment, and has easy freeway access.

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When is the Best Time to Buy a Home in Vancouver Washington

When is the Best Time to Buy a Home in Vancouver Washington

Would it be disingenuous to declare now?

Let’s look at some current metrics that can help prove my point.

The average listing price in Vancouver is currently $272,885 as of January 6th. The listing price of course is the asking price that a homeowner is considering for their home that is listed on the Realtors MLS. Or simply put the database of properties.

Now, let’s look at the Median sales price from a year ago. which was $195,592 and is $1,177 more than a year over year comparison.

Clearly the time to buy is now before rates go back up. We are at 2004 pricing levels.

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