Market Snapshot 12/31/2009

By
Real Estate Agent with Keller Williams Premier Partners

Year End Market Snapshot

Market Snapshot 12/31/2009

Market Watcher Vancouver WANow that we've reached the end of another calendar year, we tend to think of starting anew. The real estate market doesn't cast off last year's behavior just because it's a new calendar year, however. Knowing that where we've come from affects which direction we're headed, we tend to look in the rearview mirror to see where we're going. Think about that for a moment - going forward and looking in the rearview mirror to get there...

I have this quote I've enjoyed repeating from time to time: "I never look back. I'm not going that way." I like it because it reminds me that what's passed is past. As a REALTOR, I don't think it does my clients much good to tell them "if you'd sold last year, you'd have gotten 10% more" or "if you'd bought when interest rates were 4.8% you'd have been able to afford more house". It doesn't matter. Now is when they are buying or selling. This is the market I need to understand for them.

Because I am able to see what's going on right now and what the short term outlook is, I provide my clients with salient market information. The market that is.

Here is our RMLS market on 12/31/2009:
The ratio of active listings to pending sales is up slightly. This is suggesting slightly higher average market time may occur in short term. It suggests prices will have a bit more pressure. Ah, and is that pricing pressure going up or down? Who has the advantage - buyer or seller? My belief is the buyer still has the advantage. Why? because of the number of homes available, 33% are in a 'must sell' position by virtue of being short sales or bank owned properties. Consider, too, that 41% of the pending sales are short sales and bank owned and you see that any price resistance offered by sellers will be overwhelmed by the 'have to sell' sellers.

Our hard numbers - 3256 active, 775 pending with 2286 active and 557 pending for the major Vancouver area. Both down in totals. In case you didn't notice, this is a seasonal trend for the total number of pending sales to be down end of December and beginning of January. Hey - didn't I just say "I never look back..."? Well, I do find trends there and that's how I make those short term estimates of price behavior.

Last year was great for me and I'm looking forward to an even better new year. I hope the same occurs for you. Meanwhile, it's always a good time to get a good price in your real estate transactions and I'm here to help you get the best value for your sale or purchase!

Whether you're looking for your first home, or possibly your last, or selling either of them, I have the patience and experience to help you make the best choice in Vancouver Washington. The Natural Choice in real estate is working with a professional real estate agent (me!) at Krogseng Real Estate who listens to your needs and works as a trusted advisor to get the best solution to your housing needs. We will give you a new attitude about real estate. If you are concerned about living a more sustainable lifestyle, Vancouver Washington may be the city for you. I specialize in knowing the neighborhoods in Vancouver Washington that have great walkscore ratings. Whether you want the low-maintenance condo lifestyle, a home that gets you off the grid, or a home that is something in between in Clark County, the natural choice in real estate will be someone that can help you find just the right home and neighborhood. If you're looking for homes that have been certified as green, you'll want to know I keep informed of the newly constructed homes and their various green certifications. Visit Krogseng Real Estate for more information.

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Washington Clark County
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Rainmaker
231,566
Christopher Watters
Watters International Realty, LLC. - Austin, TX
Austin Real Estate (512-298-4010)

So true, don't live in the past and let it effect your clients. The past isn't going to define the future. Off the subject, have you tried market snapshot w/ Top Producer? Your title made me think about it. I've been considering trying it out.

Jan 04, 2010 03:07 PM #1
Rainmaker
89,306
Lynn Krogseng
Keller Williams Premier Partners - Vancouver, WA

Christopher, so true - we can learn from the past, but we can't relive it.

Jan 06, 2010 01:20 AM #2
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Rainmaker
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Lynn Krogseng

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