Currently listed by Columbia River Realty: 38105 SE Norma Road, Washougal, WA
In 2018, many first-time home buyers had a tough time competing in a fast-paced real estate market and opted to sit out and save for a bigger down payment. As we move into 2019, I believe those buyers’ chance of securing a home they love will increase. Here’s why:
Three reasons to buy a home right now
1. More available homes are on the market. Inventory in January 2017 and 2018 was 2.2 months versus 2.9 months heading into 2019. This means that buyers will have more homes to choose from and less competition.
2. Prices are flattening. In the second half of 2018, listings began to sit on the market a little longer and we saw sellers drop their listing price. With that said, we will continue to be in a busy seller’s market as we move toward a more normal market (six months inventory) in the coming years.
3. Mortgage rates remain historically low at under 5 percent. The rate hike in December 2018 was postponed, however, we expect two to three rate increases in 2019. Remember, a slight increase in the mortgage rate makes a big difference in the amount a buyer can qualify for.
Do these three things before you buy a home
1. Save for a down payment.
2. Make an appointment with a qualified lender. A lender will help you boost your credit score and reduce your mortgage rate, and let you know what loan programs you qualify for.
3. Make an appointment with one of our brokers by calling 360-210-4690. We can connect you with one of our trusted lenders, help with your home search, and answer any questions you may have.
Are you thinking about selling?
If you’ve been thinking of selling your home, it may be best to sell while inventory remains low. Inventory is expected to increase in Clark County during the next few years, in part, due to new construction.
Do these three things before you sell your home
1. Call Columbia River Realty at 360-21-4690 for a free comparative market analysis. A CMA will show you what your home is worth and a broker can offer suggestions to improve your home’s value.
2. Prepare your home to sell. Declutter your home and storage areas and sort through items to donate.
3. Make a list of potential home repairs. Assessing your home’s condition now will help you complete tasks before we list your home.