| Homes for sale in Vancouver WA and nearby cities in | | | | are truly at the lowest point in fifty or more years! |
| Clark County in May 2010 continued to see pressure | | | | The third positive factor helping home prices has been |
| from Distressed Properties (Pre-Foreclosures and | | | | the increasing number of sales of homes in the pricing |
| Short Sales), and from Foreclosed properties (bank | | | | tiers above $250,000. The positive movement in this |
| owned homes) garnering the attention of home | | | | segment may not increase actual home values but, |
| buyers, and putting downward pressure on prices for | | | | mathematically it does help the average home sales |
| the remaining available inventory. | | | | price firm up or slightly increase. |
| Only a few real estate news sources report on the | | | | We are also seeing a very visible pulse in New Home |
| actual level of distressed property sales in Vancouver, | | | | construction in all parts of lower Clark County. We live |
| and we are one of them. Gathering the data ourselves | | | | in Felida and at least two home builders have several |
| from the local MLS data base the Distressed Property | | | | millions of dollars in new homes nearing completion. We |
| Category (Short Sales and Bank Owned/REOs) | | | | also have clients in Camas building a new home, right |
| made up 35.7% of the Active Inventory; but were | | | | along side over 20 other new homes that are being |
| 47% of the Pending sales for the month of May. This | | | | constructed! Two key elements we've seen fueling |
| puts Vancouver Real Estate squarely in a Buyers | | | | the new construction activity are: 1) construction on lots |
| Market with at least half of the buyers going for a | | | | that had been foreclosed and then sold at steep |
| great deal. | | | | discounts; 2) buyers that could finance the construction |
| On the positive side of the equation several factors | | | | loan with 20% or more in down-payment. |
| have helped to stabilize prices (and even help with a | | | | The local Vancouver WA MLS board has recently |
| modest seasonal price increase) and promote a | | | | changed the way they count Days on the Market and |
| healthier housing market. The first factor has been the | | | | thus the year to year statistics don't match up well. |
| modest level of increased buying in March and April as | | | | However, it is our observation that home sellers who |
| buyers were taking advantage of the Federal Tax | | | | price their homes at market should expect from 3 |
| Credit options for qualified first and second time home | | | | weeks to 8 weeks to see traffic and perhaps an |
| buyers. | | | | offer. If the home is priced above the market the wait |
| The second positive factor has been the home loan | | | | could be indefinite. |
| interest rate for qualified buyers going solidly below | | | | To see for yourself what real estate is available in |
| five (5) percent. Every incremental lowering of the loan | | | | Vancouver WA (USA) please visit Vancouver WA |
| rate greatly improves the affordability of a home | | | | Homes For Sale. |
| purchase. From what we've seen the current rates | | | | |
