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Benefits of buying used vs new homes in Vancouver Wa.

by admin
November 20th, 2011

New homes use to be more expensive than older homes.  However, that is not always the case anymore.  New homes for sale in Vancouver WA are being built on postage stamp lots, with the cheapest materials, and with low quality workmanship which all adds up to a smaller initial purchase price.  Location also plays a major part about pricing.  The further away from either the I-5 or I-205 bridge decreases the purchase price.

Benefits of buying a new home:
1.     All the newest energy saving systems can be installed.
2.    Everything has at least a 1 year home warranty.
3.    Usually lots of younger kids with new families buying their new home.
4.    Homes can be painted and stylized with your personal preference of designer colors and materials.
5.    House can be built exactly the way you want it.

Downsides of buying a new home:
1.    For an equal location and equal quality of home built, the new home will cost more.
2.    Yard will have to be installed
3.    Window coverings will need to be paid and installed for.
4.    It is a gamble on how well the neighborhood will be kept up.
5.    Home may not be built with the quality of an older home.
6.    Yard will probably be smaller since Clark County is trying to increase the density of homes to increase the tax base.

Which is better new or used in houses?  It is all up to the home buyer to decide which is more important.  The best deal or getting the newest home built to your own desires. Don’t forget that your realtor can also work with you in getting the best deal on a new home.  He will also advise you on how to buy a house from a builder for the cheapest amount of money.

Categories New Homes
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Buying a home with great Resale Value in Vancouver WA

by admin
November 20th, 2011

Now is a great time to buy a home with selling it in the future in mind.  Prices are now down to 2004 price levels for real estate in Vancouver Washington.   For the shopper who is willing to wait and look for a deal now is the time to search for your next home.

Vancouver Wa Foreclosures.
There are incredible deals to be had in foreclosures in the surrounding areas like Camas, Washougal, Battle Ground, Ridgefield, La Center and Brush Prairie.  There is a lot of competition in competing with others looking for these deals so you must have a game plan.  The first is to get yourself setup on a complete MLS search with automatic daily feeds of foreclosures like that can be found at Homes For Sale Vancouver Wa.  Check your email daily and if a new foreclosure comes up that meets your criteria then you need to look and make an offer that first day.  The house offer will probably be at or above asking price by the foreclosure bank.  This is for properties where the bank has underpriced the home.

If a foreclosure home has been on the market for awhile then the best way is to make an offer 10%-20% below asking price and negotiate with the bank until they settle on a price that makes the property a good deal.

Location, Location, Location=Union High School, Camas High School, Skyview High School
Find good neighborhoods close to I-205 or I-5 for easy commute to Portland and you can’t go wrong.  The best high schools right now are Union High School, Camas High School, and Skyview High School. Finding homes that feed into these high schools, that are in good neighborhoods with quick access to I-205 or I-5 and you will have a winning location which is one of the most important considerations in Real Estate.

Short Sales around Vancouver Wa.
There are great deals to be had with real estate short sales if you are willing to wait and search.  I’ve seen great deals on new homes in Vancouver, Camas, Washougal, Battle Ground, Ridgefield, La Center and Brush Prairie areas with short sales.  The only problem is that you have to wait 2-6 months to find out if you get the house for sale.  When the bank and home seller say yes though, you could be smiling your way to the bank with your new found piece of real estate.

Categories How To Buy A House
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4 reasons to choose to work with a realtor when searching for a home

by admin
November 17th, 2011

1.    Realtor is FREE for the home buyer.  The commission structure is set up front by the seller to pay for your realtor.  Then to make matters better, if he is your “buyers agent” then he is stated by law to work on your behalf to buy a home for sale at the best possible price for you.
2.     The realtor will drive you around homes for sale in Vancouver Wa using his gas, his knowledge and make your home buying experience very pleasant.   If you have chosen and interviewed for a good agent, then they already know most of the bumps in the road to home purchase and hopefully they will steer the process so you miss most of them.
3.     Realtors  will negotiate on your behalf to get you the best price on your new home.  Active realtors should be closing at least 20-50 deals per year.  They have lots of experience working for their clients to get the best price possible vs. a normal person will only buy or sell a house 2-3 times in their lifetime.  They will be able to discuss all issues of how to buy a house
4.    Realtors will have a ready supply of support people to close the transaction smoothly.   From home inspectors, lenders, title escrow companies, and everyone else you would need.

Categories For Sale by Realtor
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4 Things you need to know before you buy a home for sale in Vancouver WA

by admin
November 16th, 2011

1.  Get preapproved with a lender
Lending requirements have become very strict in the past few years.  Back in the boom of the market, if you could breath you could get a loan.  Today, you need a credit score around 620 or better, and have very reliable income.  Every lender has slightly different programs and some may be able to go lower on the credit score while others may be a little higher.

Home Sellers in Vancouver Washington want to make sure that the home buyer can follow through on their offer.   Homes that are for sale by realtor often will not consider house offers are valid without a preapproval letter.  Bank Foreclosure properties will not accept offers without a preapproval letter.

2. Know what month-to-month dollar amount you feel comfortable with

When you are learning about how to buy a house, identifying your total monthly payment is crucial.   Your lender who is giving you the preapproval letter is going to base the dollar amount on your ability it pay the monthly payments.  The predetermined “bank” monthly payment amount is the maximum the bank says you can pay and still live comfortably with standard living expenses.   If you are not “standard” in your living expenses than this amount may be wrong for you.  Travel may be very important, so you may choose to spend less money on buying the home for sale and more on travel.  The best answer is to budget your expenses and income and then determine what value should be used for housing.  Then compare your amount to the banks amount and take the lower of the two.  By knowing this monthly payment you will not waste your time looking at new homes or existing homes that are outside of your budget.

3.  Have a long term path for your Vancouver Washington home to ensure the mortgage has the correct terms.

If you are a first time home buyer with no kids and just recently married then you will probably be moving in the next 4-7 years as kids come along.   Get a short term note because the interest rates are lower.  If you are an expert on how to buy a house and are planning to raise your kids in the same school and retire in the home than the 30 year mortgage would probably be best.

4. Ensure you understand prepayment privileges and payment frequency alternatives on your loan.

You can pay off a new home much quicker if you pay weekly or biweekly.   Making an extra monthly payment can dramatically reduce the time it takes to pay off your loan.  Make sure you know your options so you can capitalize on them.  For instance you can take a 30 year mortgage out on the house but plan to pay it off in 15 years by increasing your monthly payment.  If something happens to your income, you can just reduce your payments to the regular 30 year program.

Categories Homes For Sale
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