Clark County Real Estate is getting cheaper! (Vancouver, Camas: real estate market, apartment)

[klpeake]

I've been watching the Clark County real estate market daily for 11mo now and I'm seeing a downward trend on prices in the last 2 months. The builders are starting to lower prices on their properties and offer incentives to buy. There was a recent article in the Columbian about how the inventory of houses on the market is very high right now, which means a switchover from a sellers market to a buyers market.

So if you are planning on moving into Clark county (Vancouver, Battle Ground, Brush Prairie, Camas, Washougal, Ridgefield, La Center, Yacolt, Woodland) and have the ability to choose when you move; put off your move for a month or two. A couple of agent friends that I've spoken with said that the real estate market dries up quite a bit after school starts because families that are making a decision to move, do it right as school lets out for the summer so that they can be settled by the time the new school year starts. So with the buying season coming to a close, that means that people will start lowering prices even further.

So if you have the ability to wait a bit, you might save big.

[zerp]

Any update on what prices in Vancouver, WA have been doing? I will be moving up between October 15th and December 1st and want to know if I should look for a house/townhouse/condo or rent an apartment and let prices dip some more.

Thanks!

[ness]

Originally Posted by zerp

Any update on what prices in Vancouver, WA have been doing? I will be moving up between October 15th and December 1st and want to know if I should look for a house/townhouse/condo or rent an apartment and let prices dip some more.

Thanks!

In any soft real estate market (which is what we're going into now) it is best to look for something that has good intrinsic value and will therefore hold its value. i.e. water view, large lot, historic home, architect-designed, excellent schools, etc. Actually, this is good advice for buying any kind of real estate in any market....but more crucial when the market is soft. I would consider it an okay time to buy b/c you have a lot of negotiating power. Pay attention to how long something has been on the market. If it has been on awhile and the residence is not occupied they will be more likely to accept an offer that is well below asking price. If you're not sure what area you want to be in it could be a good bet to rent for a couple months to figure out where you really want to be. Keep in mind though that prices are typically lower in winter and then come up again slightly after Jan. 1st and are highest during the Spring and early Summer. I would personally look for a good deal when you get there and buy something is there is something that really meets your needs and is a good fit. If you don't find anything then wait until you do....don't settle.

[StealthRabbit]

Originally Posted by ness

In any soft real estate market (which is what we're going into now) it is best to look for something that has good intrinsic value and will therefore hold its value. i.e. water view, large lot, historic home, architect-designed, excellent schools, etc. Actually, this is good advice for buying any kind of real estate in any market....but more crucial when the market is soft. ....

good advice, I would only buy something that;

1) has this intrinsic value (I'll add a couple things that have worked for us; next to park, on acreage, nice and inviting setting, due for re-zone to higher use, on border of UGA (growth boundary), potential to subdivide, ez commute, desirable neighborhood...)

2) can get price BELOW market value

3) Is in non-rental / transient area

4) Would not be a cookie cutter home, thus when you go to sell, non-descript, one of thousand just like it.

5) meets your 'livability' list (price, schools, commute, medical services, ...)

I would probably wait and look diligently for a good fit. This desirable region will probably not have too deep of a setback, so don't wait too long. Be sure of what you want, and what you will / can pay... and stick to your guns. Don't let someone who's dying for a commission check sell you something you don't want. - Buy them a good lunch to get them through the weekend , and let them know how to focus your search to assure a sale. You can get pretty selective here, but an agent can get a much more detailed 'short-list'
RMLS™ - Residential Search )