Upcoming free (& non-promotional) Home Buyer Education Classes:
Saturday, 3/21 /15, from 11am-2pm
Vancouver YMCA, conference room
11324 NE 51st Circle, Vancouver WA
Thursday, 3/28 /15, from 10am-1pm
Marshall Community Center, upstairs conference room
1009 E McLoughlin Blvd, Vancouver Wa (kitty corner from Clark College)
…if these dates/times don’t work for you, we have others. Check out the website for more class dates, times, and locations. PLEASE always check the website www.freehomebuyerclasses.com for any changes regarding the classes!
Remember…with reservation…we will throw in lunch, or dinner! 🙂
***ok, it is now Tuesday, and honestly I have debated about whether or not to send this blog this week…or to write something different. In the end though I have had those people that I have let read it convince me that it is a valid blog right now, and that it is something that many people need to hear. So, as always, if you have any questions, please feel free to call or email me anytime. I am always here for your questions, and always….have faith! 🙂 There is an awesome house out there for you and yes, we will find it.
Happy Saturday night!
This weekend finds Chris Berg, and I, at the Clark County Event Center for the Clark County Wedding Show. For some reason they have us tucked into a back corner….hmmmm… we are hidden from the world…. LOL That’s ok as I like to ‘people watch’, and this is a fun place for it. 🙂 Of course, not as fun as the Clark County Fair for people watching, but we have some time before that comes up still.
I promise to talk about the ‘hidden’ costs of buying a home next week, but this week I want to give you some words of support, and reassurance…simply because you might be needing it right now…
I read reports on real estate because I am such an exciting person. One of the reports I read said that 40% of the homes sold this year will be sold between now, and June. Wow! That is a crazy statistic, but I don’t necessarily agree with it because another report I read states that we have 2 1/2 months of inventory on the market. What does that mean? It means that if NO other home listed after today, at our current rate of sell, it would take only 10 weeks to sell EVERYTHING on the marker right now….and that is everything from cash only dumps to multi-million dollar homes. That is crazy!! Definitely a sellers market right now, and multiple offers are the rule, not the exception,. The craziest time of the year for the housing market is always March thru June. Why? Because people want to get a home before the end of the school year, before summer vacations, and after their tax refunds come in. This is great, but…(you knew that was coming, right?) if you are searching for a home in one of the more desirable locations, or hottest price ranges, it can be very frustrating.
So yes, a LOT of homes will go pending in the next couple of months, and it may be feel that it is 40% of the homes sold for the year, but you have time. Have faith….the market usually slows down around June. Homes will still come on the market because some people can’t put their homes on the market until AFTER the school year ends. What this slow down does is allow you a chance to breathe some. There most likely will still be multiple offers (because of the low inventory), but it won’t be such a ‘feeding frenzy’. Yes, March thru June IS ‘Feeding Frenzy’ time….it usually is. I had a client last spring that wrote up SIX offers and got beat out EVERY time before we got an offer accepted….Lucky #7…in June.
Have faith…don’t give up, and certainly don’t feel rushed…if you can help it. I can’t stress it enough, but remember that your buyer’s agent is here to help you…..like a GPS… we are not here to ‘sell’ you anything. For heaven’s sake…don’t call the sellers agent! That is not going to help you in any way as you will be giving up your right to individual representation by someone who should only be representing YOUR best interests….not the sellers, and not their own. Just saying…
Yes, the market is crazy right now, but you don’t have to ‘buy’ into the ‘feeding frenzy’. If you need to take a step back, and breathe some…do it. You will find a wonderful home…promise! 😀
The average purchase price for a home right now is $225,000. The average buyer is using a FHA loan, and the majority of those buyers will be using some form of down payment assistance. So what price ranges seem to be the most popular?
Small acreage homes around $400,000 (or less)
3 bedroom/2 bath homes around $200,000 (or less)
4 bedroom homes around $225,000 (or less)
Does this all mean that you shouldn’t be looking right now? No….not at all. Give me a call, and let’s go see homes. If it is the ‘right’ home, you will be that accepted offer. IF not…then there will be another home. Now, more than ever though, only look at homes IN YOUR PRICE RANGE! Don’t look at those homes that are not in your price range, or that are more than you want to spend. This is your mortgage, so be sure that you are comfy with it. Ask questions, and expect understandable answers.
I have one couple that has been in contact with me for about 3 years now. Every spring they contact me about homes…and every year what they want is about $10,000-$20,000 more than they can afford. They don’t understand why they can’t have the home they want at the price they want to pay. So, every year they ask me to send them homes in a price range that I told them last year. Every year they get upset that what they want is no longer in that price range. This year, Mr has ‘firmly’ informed me that he is quite upset with the way I keep raising the price of the homes they want. He let me know that, “last year you said that the homes we want in our kids school district were around $240,000-$250,000. Now you are saying we need to spend another $10,000-$20,000 for that home. This is wrong that you keep raising the prices on us!” My response was that if they had just purchased 3 years ago, those homes would have only been around $220,000. I promise that I am not out there raising prices on you. Frankly, I don’t have that power…. the market is driven by the buyers and sellers themselves…supply & demand…not me. I have again, let him know that Spring is quite the crazy time, and that he ‘might’ have better luck during the fall and winter. They don’t want to move during the school year & winter time…weather-wise. I get that. I really do. This time he asked me if he would be able to offer $20,000 less if he waited until this winter. Sadly…no… unless we get a major flux of sellers who want to sell, then inventory is going to remain fairly tight, but…typically during the winter the housing market doesn’t move at the speed of light either.
Spring…yes, it does move very fast…and yes, I understand the feeling of frustration that, as a buyer, you might be feeling. However, I may be the only agent out there you will tell you to take a breather. Buy a home when it is convenient, and makes sense, for you.
One last thing you need to remember is that a real estate agent is not a sales person. It is not our job to ‘sell’ you anything. We are assistants, advisers , guidance, and help. You should not feel as if your agent is trying to sell you a home, or anything else, our job should be to help you in getting the home you want. This being said remember that you do not get T-Bone steaks for the price of hamburger…Look ONLY at homes within your budget. ALWAYS ask questions, and expect answers without a lot of lingo. I was always told that if you can’t explain something in a way that the other person can understand clearly, it is because you don’t understand it yourself. 🙂
Information is power, and I hope that I am able to help you. Good luck, and as always…May the odds be ever in your favor out there…. If you are looking for a real estate agent, I would love to be able to help you.
As always….this is just a quick overview…. please remember that your agent, and your lender work for YOU. You drive the bus…we are merely GPS to help you get to your goals. Like the classes, this weekly blog email is to help you with your homebuying adventure. The goal is to be informative and non-promotional. 🙂 We are, however, hoping you will call and want us to help with your adventure.
If you have any questions about this, or something you have heard…or if you would like me to help you with your homebuying adventure, please call, email, text, or facebook me anytime. I am, as always, happy to help!
Thank you again for your business and your referrals!! …and thank you for referring these classes to your friends, family, and co-workers.
. ..disclaimer…if you have already purchased a home, or would no longer like to receive these emails, please let me know and I will be happy to remove you from any further mailings…
Next Week: “Hidden” Buyer fees when buying a home
Last Week: What are Closing Costs?
Have a great day, and I will talk to you soon,