Inventory remains very tight in the bottom half of the market. In general these kinds of inventory restrictions create a mad fury of bidding as frustrated buyers fight to get an opportunity to own a home. This market however has a caveat in that the buyers remain cautious. They will bid up a nice move-in ready home in a great neighborhood but they are avoiding homes that are not pristine or that are located in less desirable neighborhoods.
Buyers will simply pass on a home that is overbuilt for the neighborhood or in need of a great deal of repair. Sellers need to be aware of this and cleaning up a new listing and making it look as good as possible could be the difference between a quick sale with multiple offers and a lingering slow sale scenario.
Builders have reemerged with a strong presence and have dozens of new home communities being built. In general these communities seem to be selling well. The market is strong but buyers remain selective and bordering on picky, so sellers need to step up their game to get top dollar for their listing.
This is going to be an interesting summer.
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Showing posts with label pricing. Show all posts
Showing posts with label pricing. Show all posts
Monday, May 4, 2015
Monday, April 28, 2014
Things are heating up...The kettle is starting to boil.
by Rod Sager
The market is moving into full 'Spring Fever' mode. Buyers are out in force and well priced listings are gone in two days. This kind of frantic buyer behavior is tempered a bit by the tighter lending practices of today versus the wild and crazy mid 2000's.
It seems like the buyers are sensing a shift in the wind. They are not as hesitant as they were in 2010-2013 to jump into this market. Mortgage rates remain very low and prices are starting to move upward at a fairly quick pace.
Buyers looking for a less frantic experience may want to seek properties that are either a little over priced or not quite move-in ready. These properties tend to hang around a little longer and sellers will get "real" and come to terms at a good price.
My concern for my buyers is that they are in danger of being priced out of the market. Everyone wants that turn key property that doesn't need any work but the value is that light fixer or that clean but dated house. Perimeter areas like Yacolt, Amboy and La Center are now seeing activity as well. Areas further out often enjoy a spike in popularity as people get priced out of the market in close.
The market is heating up and the kettle is starting to boil...
The market is moving into full 'Spring Fever' mode. Buyers are out in force and well priced listings are gone in two days. This kind of frantic buyer behavior is tempered a bit by the tighter lending practices of today versus the wild and crazy mid 2000's.
It seems like the buyers are sensing a shift in the wind. They are not as hesitant as they were in 2010-2013 to jump into this market. Mortgage rates remain very low and prices are starting to move upward at a fairly quick pace.
Buyers looking for a less frantic experience may want to seek properties that are either a little over priced or not quite move-in ready. These properties tend to hang around a little longer and sellers will get "real" and come to terms at a good price.
My concern for my buyers is that they are in danger of being priced out of the market. Everyone wants that turn key property that doesn't need any work but the value is that light fixer or that clean but dated house. Perimeter areas like Yacolt, Amboy and La Center are now seeing activity as well. Areas further out often enjoy a spike in popularity as people get priced out of the market in close.
The market is heating up and the kettle is starting to boil...
Friday, November 15, 2013
How Do Different Cities Compare on Price of Homes?
by Dan Jensen
Just for Friday Fun, I thought it might be interesting to see how Boise Idaho, Portland Oregon, and Vancouver Washington compare in their price of similar homes. Not the "cold" statistical summary that's often in the news, but real houses on the market TODAY!
Inserted below are one clean single level home in each of the 3 communities. Each home has 3 bedrooms, and 2 bathrooms, a 2 car garage, and decent size lot. Each home was built in the mid 70's and appears from pictures and descriptions to be in good condition and ready for it's potential new owner.
Take a look and see what you think.
As always, if we can be of help in any way, we're very glad to do so. Have a wonderful Thanksgiving and thanks for stopping by!
The Equity Northwest Properties Team
Listings pulled this morning on Realtor.com public website.
Just for Friday Fun, I thought it might be interesting to see how Boise Idaho, Portland Oregon, and Vancouver Washington compare in their price of similar homes. Not the "cold" statistical summary that's often in the news, but real houses on the market TODAY!
Inserted below are one clean single level home in each of the 3 communities. Each home has 3 bedrooms, and 2 bathrooms, a 2 car garage, and decent size lot. Each home was built in the mid 70's and appears from pictures and descriptions to be in good condition and ready for it's potential new owner.
Take a look and see what you think.
As always, if we can be of help in any way, we're very glad to do so. Have a wonderful Thanksgiving and thanks for stopping by!
The Equity Northwest Properties Team
Boise, Idaho
Portland, Oregon
Vancouver, Washington
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