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Vancouver WA Condos For Sale | Another Slow Condo Sales Month For August 2010
Condo and Townhome Sales for Vancouver in July 2010 took quite a tumble so, earlier in August we logged into the Vancouver MLS for Vancouver WA Condos and Townhomes to obtain a quick update of what happened Condo and Townhome wise within the confines of Vancouver, in Clark County Washington. Here is what we have to report:
From this quick view we see 38.3 months of Inventory (divide total Active by total Sold), with the distressed categories (Short Sales + Bank Owned) dominating the sales. We are also seeing a continued slowing of sales this mid-summer time owing to the expiration of the tax credit incentive program, and the typical vacation season.
So What Is It Going To Take to get Condo Sales Moving Again? Beyond the improvement in the national and local economy, we see the need to improve the financing availability for FHA loans. More and more Vancouver Condominiums are now approved and should start seeing sales. We are also experiencing more and more in-migration of retirees and executives, both groups that may not know the area well, and may prefer a home with minimal exterior maintenance requirements.
If you have other ideas on the Condo Recovery scene we welcome your comments!
------- Definitions: 1) 3rd Party = the sales contract requires the approval of a third party; and includes Short-Sales, Trust Sales, Relocation Company sales, etc. 2) Pre-Foreclosures = aka Short-Sales are homes where the lending bank(s) agrees to take less, allowing a sales transaction to take place. 3) Foreclosures = aka REO's and Bank Owned Homes, already Foreclosed by the Lender(s). 4) PENDING = listed homes that have been marked as under contract by the listing agent during the past 30 days. 5) SOLD = listed homes that have been marked as closed sales by the listing agent in the past 30 days. Note: some of these sold homes may have been "pending sales" for far more than 30 days!
Disclaimer: this information is drawn using custom search parameters from the predominant MLS system covering Vancouver Washington and is not guaranteed to be accurate.
The above information was provided by John Slocum and Kathryn Alexander, recognized as one of the top teams at REMAX Vancouver WA. We hope you enjoy the information in our posts, including videos on real estate and Living in Vancouver Washington and the rest of Clark County.
Thinking of selling your home in this market? We have the insight and passion for selling homes to get you moving!
Vancouver Washington Real Estate and Home Information Resource for home owners,
home sellers and home buyers in Vancouver Washington. We also cover other Clark County Washington areas including
Camas, Battle Ground, Ridgefield, Brush Prairie, La Center and Washougal.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.