Real Estate Update
Clark County, WA Real Estate Market Conditions:
What buyers/sellers can expect.
Based on April RMLS Stats.
Clark County Buyers and Sellers can expect to find a strong seller’s market. Inventory levels suggest the market did weaken just slightly, making what seems to be a normal adjustment. However, lockbox activity is holding strong. We are not seeing any slowdown in buyer activity.
Inventory levels are at 1.9 months which is slightly higher than the 1.6 months of March.
The Future: Where is the Market Headed?
It is normal for the number of listings to increase during the early summer months and it is good news that lockbox activity levels remained strong during April and May. Lockbox activity is an early indicator of a slowdown in buyer activity. If we were to begin an overall downturn in the market then it would first show up here.
I do not see a concern for the market at this time. However, historically buyer activity does drop off in the short run during periods of uncertainty. I have been concerned how buyers might react to current world events but I see no negative influence on the market as yet.
On May 17, when the independent prosecutor was appointed for the Russian related investigations, the stock market dropped over 370 points but the housing market did not seem to slow.
You may be wondering how the housing market might react during a major world news item. Inman News reports that short term slowdowns occurred during the Nixon and Clinton impeachments, the Iran Hostage situation and 9/11. In all these situations, the market recovered in just a few short months. I also remember a brief slowdown during the Gulf War of the early 90s.
Is There a Buyer Opportunity Coming Soon?
While these types of slowdowns seem like a great opportunity for a buyer, they are nearly impossible to capitalize on. Sure, it is great for a buyer to get $5,000 or $10,000 off the price but when does a buyer make a purchase? A buyer never knows when we are at the lowest price until the market has recovered and then it is too late. With real estate as with stocks, the best strategy is to buy over the long haul. Real estate has been a good investment over the long haul.
With Home Prices Rising…. Is this the Wrong Time to Buy?
Here is another perspective. For the past 2+ years, prices have been rising at about 10% a year. For a $250,000 home, that is about $2,000 per month plus the compounding factor. So, a buyer today has gained in appreciation over $5,000 in just the first few months of ownership. In the case of a market slowdown as mentioned above with a typical price drop of $5,000, a buyer is protected within only 2-3 months of ownership. Understanding this helps a buyer realize that ownership or investing is not as risky as one might at first think.
And here is a third perspective. If you are currently renting, home values are currently rising for a $250,000 home at around $2,000 per month. So each month homes are getting more difficult to buy. Each month it is getting more difficult to come up with the monthly payment and down payment. But, on the other hand, if you current own and one day want to move up to a larger home, your current home is building equity all the while you are in that home. When the time comes that you need to upgrade, you have a lot of equity to help you make that upgrade. You can use that equity to make a larger down payment and reduce the monthly payment on the new mortgage. So even if you cannot afford your ideal dream home, you are better off to buy a satisfactory home now because it then begins building the equity to help you into that dream home later. If you
How to quickly & easily communicate with your local representative and senators.
Many of us have opinions we want to express to our local political reps but the actual act of calling or writing is just a bit forbidding. I was recently talking with a client (thanks Sue) who was interested in an easy way to express her political views to our local senators and representatives. In Clark County we are talking about Sen. Cantwell, Sen. Murray and Repr. Beutler. May I suggest texting to them? You can go to their web sites to email them but that seems more effort. You can call them but so often I do not reach a real person.
Texting has worked well for me. This option is sent as a text and arrives at the destination as a fax. Is that cool or what? Texting is a great tool for sending a message on the fly, quickly and easily. This is a bipartisan tool and available for all to use. The activation code, resist, may suggest otherwise but please just ignore that.
Text to “504-09”. Then type in “resist” and easy instructions will follow.
I hope you find this helpful.
Do you have a specific question on the market or on your home?
Give me a call and let’s talk about your situation.
SPECIAL MARKETING FOR 1 LEVEL HOMES
I have seen a growing demand for one level homes over the past few years. Many retirees are finding our County attractive for many reasons and one level homes are often favored by retirees. The baby boomers are one of the largest population groups and they are all at or near retirement. In response to this growing market, I have created a special marketing effort where buyers can see my latest listings for one level homes and in some cases even before they are listed. I am posting these homes on Youtube.com. Simply do a youtube search for “one level homes in Clark County, WA” and they will pop up or click on the link below. Any buyer looking for one level homes will find my updated information. This marketing effort is intended to increase the number is interested buyers and the possibility of multiple offers.
Currently I have several new homes and acreage locations where new 1 level homes are planned. I am also posting all preowned one level homes as the listing come in. Any buyer can subscribe to my channel and immediately get my postings. By increasing exposure, sellers will get the best price possible.
If you are not yet ready to sell your one level home but would like to post a video for the future, give me a call. Let’s talk about it.
For a sample of postings in this early stage of my efforts, please click on the link below or copy and paste the link into your browser:
I am still putting this together. Thank you for your patience. Your feedback is welcome.
KELSEY FAMILY FARM: Lily Comes to the Farm (The latest stories)
A Farm Shower
Aunts, uncles, cousins, and siblings descended on the farm for a baby shower under the new porch roof. There were branches of flowering plum and quince and pots of Johnny-jump-ups for decoration. It was a fairy theme and Lily, Catie, and Lily Belle were in full fairy regalia with wings and wands. They jumped on the trampoline while the adults ate finger sandwiches and drank lavender lemonade. The parents-to-be were pleased, the sun shone all day, and only one dog fell in the pond. Every pot, pan, and platter was used in the preparation and it took days to run all the dishes through the dishwasher. The new baby girl arrives in June, a highly anticipated addition to a giant family.
Wool to Africa
We got a call from a software engineer who was about to leave on a mission to the Congo with Mending the Soul, a non-profit organization. He asked for samples of wool and yarn to use in activities with survivors of the Rwandan genocide. James came to tour the farm and got a fast tutorial on wool processing from sheep to knitwear. We sent him away with a big bag of washed Corriedale fleece, black and white roving, and finished yarn, both dyed and natural. I gave him lessons on winding a ball of wool from a hank of yarn and how to make an angel from roving plus a few bits of knowledge from my art therapy training. We will share pictures of our wool in action in Africa when James returns later this month
More about the Kelsey Family Farm can be found at www.KelseyFamilyFarm.com
The brain child and owner of Kelsey Family Farm: Jonell Kelsey
Chris Kelsey, MBA, GRI
Keller Williams PP