When Will the Real Estate Market Stabalize

This is an interesting fact: Nationally about 24%  of the homes on the market had a 1% drop in price compared to  15% of the homes dropping last month. The fact is that home prices were so high by 2006 , that it will take probably in my opinion till year 2015 to get some normalcy and back to a stable market.

 Terrie Cox, PC, GRI, CRS, CDPE, ABR, e-Pro, CLHMS
#31 Agent in the USA (2010) Ranked as high as 89 in the World
 Re/Max Equity Group – Licensed Oregon & Washington

 Direct: 888-888-8284    Office: 360-699-5100  Fax: 360-699-6100

New Signs of the Market Growth

A survey conducted by Campbell Communications, shows that short sales account for 12.5% of property sales in July 2009.

A short sale is when a property sells for less than the existing mortgage. This is often done so the homeowner can avoid foreclosure. These sales are more time-consuming and complicated. Thus agents need to be experienced and educated on how to assist homeowners in these situations. I would suggest  you need assistance in this process.

We will be seeing more and more short sales as the market continues to adjust as more consumers take advantage of the government’s Home Affordable Foreclosure Alternatives program. This program streamlines the short sale process, making it simpler for the seller, buyer and the mortgage holder.

I would be privileged to explain and then assist you in this process of either selling or purchasing a new home.

Flowers Add Instant Curb Appeal

First impressions count, especially with potential buyers when they come to view your home for sale! Curb appeal sells houses. Inexpensive pretty flowers in beds, borders, pots and containers can quickly fix up the street view appearance of your home. Homeowners or sellers who want to enhance or improve the curb appeal of their home look to making a great first impression by landscaping inexpensively with flowers. Realtors who actively market houses, and successful home sellers, know it pays to plant flowers for that quick fix for the spruce up of the front yard.

Instantly make the entire front yard look groomed and well cared for by edging the flower beds so they have a well defined, crisp outline.  Ask your local professionally trained nursery staff for help picking flowers that will thrive in your area and the ones that will do best in your flower beds. After carefully preparing the areas to plant by loosening the soil down at least 6 inches, add some compost or other organic matter and be sure most of the weeds are taken out. When you plant, apply a general purpose, slow release, granular fertilizer to help keep the flowers blooming for that ‘all season’ curb appeal.  Curb appeal helps sell your home fast, and flowers instantly add to your landscape and your home’s curb appeal, enhancing that all important first impression, and helping market your house, inviting real estate agents to show it, and enticing potential homebuyers to come inside and view the property.

What’s My Real Estate Really Worth?

How much is your real estate—your house, condominium unit, cottage, income property really worth in today’s real estate market? Today more than ever anyone who is contemplating selling real estate property should seek the professional advice of their local Realtor and their expertise in this field. Many people use any number based on some figure they have heard from a neighbor, or seen in a local newspaper, when in fact, the real number should be lower or even higher.  Only a real estate professional has the real figures of what properties have sold for or are on the market for.  Although there is no set definition of what a market evaluation should include, there are a few basic ingredients that can be useful in evaluating the true value of the property that you want to sell. Analyzing actual property sales for your neighborhood, or area, and for properties similar to yours in surrounding neighborhoods will provide solid ground for establishing value.  All of the listings which terminated at the end of the usual thirty to ninety day period without a sale. The expired listings are typically considered to be over-priced for the market, based on the condition of the property and current buyer patterns. These listings can also represent insight into marketing strategies to avoid or to adopt in your area.  If your property were listed, how would it compare with the other houses or condominiums that buyers who are shopping in that location, or that price range, would be shown?

It’s the buyers’ needs, wants, and what’s “in,” not sellers’ costs, that determine the value and sales price.  Repairs, modernizations and improvements to your property can boost value. The real estate professional will offer some simple, cosmetic suggestions and others which may involve investment with a predictable return. Listening to these suggestions is the beginning of learning to separate pride of ownership from investment realities. What you love is not necessarily what buyers will pay top dollar for in your location. For instance, a swimming pool can devalue a property in some neighborhoods. In others, this amenity is highly prized.

Using the guidelines I have listed will help you to decide the true value of your property and help to place a realistic sales price.  You’ll be led through the process of determining a range of value for your property. The real estate professional will explain why market value is a range rather than an absolute value. The relationship between that value and property-tax market value will also be discussed since local variations are significant. The value range will be evident to you after this buyer’s-eye-view evaluation. It’s not the list price, or even market value, but what you would net, or keep in your pocket, that is really important. Typical costs will help you fully appreciate what value in an offer will mean to you.

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.