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It's a "BLUE MOON" Time for Upward Moving Home Buyers in Vancouver / Camas, Washington!

By John Slocum

Real Estate Agent with Premiere Property Group, LLC - Vancouver Washington 88349

September 25, 2007 09:16 AM

Vancouver / Camas Washington Real Estate "Blue Moon" Season to Move Up
an Opinion by ClarkCountyExpert.com

Vancouver, Camas and Felida Washington real estate news, as in other parts of the country finds the local media reporting fear and angst in the real estate industry. However, in our opinion this is a once in a "Blue Moon" season to make one of the best real estate moves...

Image of near-full Moon on September 24, 2007 by John Slocum, ClarkCountyExpert.com

According to Wikipedia, from the Maine Farmers Almanac a Blue Moon is an infrequent but periodic event where instead of the typical 3 Full Moons in a Calendar quarter, there are 4 Full Moons. The third full moon in a four-full-moon quarter is tagged as the "Blue Moon." In 2007 there was a Blue Moon on May 31st. For real estate in Vancouver / Camas, Washington, we think the Blue Moon is right now. Here's why:

In most Vancouver and Camas, Washington neighborhoods, homes that are for sale near the median sales price are seeing increasing prices, while selling at the more typical 3 to 4 months time-frame. For home owners in the area's median price range, we see a tremendous opportunity to "Move Up" by selling your existing home and purchasing a larger one. Industry studies show that most upward moves average about a 50% increase in home price. For example: a home-owner sells their $300,000 home and will typically move up to a $450,000 home.

In today's market homes in the $400,000 to $500,000 are temporarily seeing slow sales, punctuated by price reductions and a higher than normal number of homes on the market. Thus, benefit one and two to the Upward Movers are: 1) the $450,000 homes are selling closer to $400,000, generating a real savings to the Upward Movers; and 2) there are more homes to choose from!

A third (3) benefit to the Upward Movers are the great mortgage interest rates available today combined with the signals from the Federal Reserve last week to move towards equally or better interest rates in the overall US Economy including mortgages in the near term. The combined effect of reasons one and three will result in lower mortgage payments for the new home.

A fourth (4) reason is the improved ability to sell a home in the area's median price range. The typical buyer pool for homes in the median price range are Upward Movers selling a home in the $200,000 price range; as well as Downward Movers -- folks who no longer need or want the larger more expensive homes and are purchasing a median-price home. In today's market we are also seeing a fair amount of "Lateral Movers" who may be purchasers moving into our area and deciding to purchase at the median price range instead of moving up themselves.

The fifth (5) and final reason we see this as a Blue Moon time for most Upward Movers is the soft-prices in the $400,000 to $500,000 range are temporary, and will begin to firm up and rise again as more and more Upward Movers figure out this is a great time to make that upward move!

In summary, here's why we see this as a great time for many Upward Movers:
1) soft prices in the $400,000 to $500,000 price range;
2) relatively more homes to choose from in this price range;
3) excellent mortgage rates should result in lower than expected monthly payments;
4) relatively strong demand for the area's median priced homes is a positive to sell your existing home;
5) items 1, 2 (especially 1) are temporary conditions.

If you or someone you know is thinking about being an Upward Mover, please review this opinion and ask yourself: "Why Wait?"

Feel free to contact us with any questions you may have regarding this opinion.

Kathryn Alexander & John Slocum, Alexander ∞ Slocum Real Estate Team

PS - Nobody sells more homes than RE/MAX. Look to the Alexander ~ Slocum Team
for your real estate needs in Vancouver WA and Clark County Washington!