Typical questions about Vancouver/PNW (house, buying, moving)

[texasdiver]

Originally Posted by zerp

Also, if you’re thinking about Camas, there are currently zero homes in the 2500-3500 sq foot range for sale right now (excludes new construction). This is according to Zillow.

When I check Zillow I find 53 listings in Camas of which 17 are between 2500 and 3500 sf. For example, these are the first three listings that pop up

https://www.zillow.com/homedetails/7...23246974_zpid/ (on the market for 80 days)

https://www.zillow.com/homedetails/4...67013555_zpid/ (on the market 2 days)

https://www.zillow.com/homedetails/3...23248764_zpid/ (on the market 26 days)

[zerp]

Originally Posted by texasdiver

When I check Zillow I find 53 listings in Camas of which 17 are between 2500 and 3500 sf. For example, these are the first three listings that pop up

https://www.zillow.com/homedetails/7...23246974_zpid/ (on the market for 80 days)

https://www.zillow.com/homedetails/4...67013555_zpid/ (on the market 2 days)

https://www.zillow.com/homedetails/3...23248764_zpid/ (on the market 26 days)

Sorry, I should have clarified my filters.

2500-3500 square feet
4+ bedrooms
2+ bathrooms
Excludes new construction

That’s going to be what is most broadly attractive to families desiring to move to Camas, which undeniably is a family oriented community.

Your first linked property = 2 bedroom only.
Your second linked property = looks like an investment property as it is described as multi-unit
Your third linked property = under 2500 square feet

[zerp]

Originally Posted by TurcoLoco

Whatever the normal annual increase was like prior to the sudden increase.

In CA, the prices go up a lot in a matter of years so every 7 to 10 years, the prices significantly drops. At least this had been the case up until the recession.
Recession likely to have delayed the duration a bit. Not sure if plandemic had any effect but the current prices being even higher than pre-recession values, a drop is more than overdue. Then the much recent and shocking inflation increase. Not sure what will happen and when but as a prospect home buyer, it was my wishful thinking.

If I was a home owner, I'd probably feel the same way as you, thinking it is not likely to come down. Again, it would be a more subconscious claim than a factual one. Who knows, perhaps your statement was based on some solid sources/data?

Google search “housing demand millennials”

You’ll get plenty of hits worth light reading.

The summary is that the Millennial generation is a primary contributor to the demand situation. If you look at a US population pyramid, you can see that the Millennial generation age brackets are indeed the largest and they are just now in the prime house buying/family having years of late 20s and 30-somethings.

Other things that have “helped” are the lackluster builder supply build up post-2007-2009 and the low interest rates for mortgages. So, the builders were caught unprepared and money is almost free to borrow.

On a Dave Ramsey episode he said that 2007-2009 was the only time that he was aware of (during his 35+ years of doing real estate) that prices dropped so much.

In any case, best of luck in your search.

[StealthRabbit]

It's best to not be looking for the typical cookie cutter sale (very typical for Camas / working families). If you are looking at homes already listed for sale, you are way too late to the party.... It's over.

Works great for non-conventional buyers. (I lived in one cookie cutter, out of 10+ homes) it was my first (and last) rented place when relocating to Vancouver in the middle of winter. It served it's purpose and I later found a unique property for less the 1/2 listing price. (PNW housing crisis of early 1980s)

I doubt Camas will 'adjust' over 20% down in a short term crisis. It is too accessible and handy location for many reasons. Internet / WFH changed real estate markets. My Camas neighbors ran to Bend in 2008 to pick up 8 homes that were 1/2 price of valuation. They did ok on that venture. Their High School aged kids bought homes, air B&B them until recently, then sold and took profits to the bank to pay off college and buy their next homes (not in Bend, but equally desireable places, but not as popular spots in PNW.... There are plenty)

[ukiyo-e]

Originally Posted by StealthRabbit

this oughta cover it. Works fine for me.
GIS info is readily available in most counties / states.
https://gis.clark.wa.gov/gishome/property/

Beats spending 4 - 8 hours / week in the courthouse making notes. (As we did 30+ yrs ago)

I have no idea how that helps you buy houses before they're on the market.

I looked up my relatives' house in Camas on there and there is loads of info, but nothing whatsoever suggesting they might want to sell their house to anyone (they don't).

Can you explain further how this works, other than by spamming homeowners with "I want to buy your house" postcards that we all get all the time?

[StealthRabbit]

Originally Posted by ukiyo-e

I have no idea how that helps you buy houses before they're on the market.

well... That's normal! Maybe you are the typical RE buyer (not investor) who prefers to buy from an agent (that's normal too!, RE agents have to eat too, and they appreciate your business!) I don't need or desire to waste their time, as they do not know what I want, and spend a lot of time trying to find me something that I don't want. (Even when I am VERY clear and provide them RMLS details for the search)

If you have a RE worth their salt, they are providing you with a weekly list of 'prospective' homes expected to be on the market within a month. That will hopefully get you ahead of other buyers, but will NOT get you an attractive price. You need to be prepared to pay "full offer" in that scenerio.

I looked up my relatives' house in Camas on there and there is loads of info, but nothing whatsoever suggesting they might want to sell their house to anyone ..

Look at it this way.. You now have (3) advantages already that the normal buyer does not have.

#1) You know someone in your market. Camas (?), hope not... (relative / friend might know someone willing to sell), They also can drive around and find vacant homes, and attend estate sales... assist in volunteering where you find a lot of beneficial networking in home availability. My Hospice volunteering would be a very ripe source (should I want anymore homes). There are LOTS of people you can team up with who can inform you of who is needing / willing to sell. Do you have an insurance agent?, Banker friend, Librarian?, Grocery store clerk? Feed store cashier? Rental equipment company manager?, Hardware and lumberyard owner? RE investor friend?
#2) You know how to use the very informative GIS site (there is a lot of info that can lead you to MORE info and to understand when / why a property might be available for sale)
#3) Should your relative DIE and you want to buy their home... you have a headstart to the hundreds of realtors who glean the Obituaries daily for listing potential.

RE: GIS...
I suggested to the Tax Assessor during 2008 to add a check box on GIS...
"Owner willing to sell for a Full Price offer that equals the current assessment valuation" No inspections, no conditions, cash offer.

I thought that would be great, even better if Assessor would cut me a check for what they consider my FMV and POOF, the economic / housing crisis would have been over in 3 months! (And the assessor would own thousands of homes they could distribute to their buddies (Banks and brokers). or... give them to the homeless. I would have been GONE. My home has not been worth FMV (spiffed and ready for marketing) for over 30 yrs. Nor will it ever be (it is designated to go to charity, which will probably sell it to an agency who will tear it down and convert it back to National Forest). No sense fixing on something that will get bulldozed, and in no way does it ever = FMV (even worth much less today with new 2022 WA Internet provider access disclosure Law ).

[texasdiver]

Originally Posted by StealthRabbit

I suggested to the Tax Assessor during 2008 to add a check box on GIS... "Owner willing to sell for a Full Price offer that equals the current assessment valuation" No inspections, no conditions, cash offer.

Right....

I was curious so I checked. The assessed value of my home according to the county is $204,000 different from the Zillow "zestimate". I'll leave you to guess which is higher.

Our neighbors sold their house 2 months ago and the price they sold it for pretty closely matches the Zillow "zestimate" and almost exactly matches it on a square-foot basis. So I assume Zillow is closer.

[StealthRabbit]

so... never sell your home for less than you require! very good rule of thumb.

my home is assessed at over 30% it's FMV and I would happily have sold it in 2008 for at the time it was assessed 100% over FMV. I have fought valuations for 20+ yrs (which doesn't make assessor very happy)

No sense selling now, since I need a place to lay my pillow, and can no longer can build my next home brick-by-brick.

Hopefully someone will stumble up to buy my joint from my foundation, once I'm 6 ft under. But... as mentioned it will possibly revert to National Forest (for all to enjoy, and bring their dogs to poop).
The appraiser for Assessor says his parents from CA would like it. They might get it from a tax sale, but in SWWA that is very unlikley since the tax sales go to specific investors.

Just wrote the 1/2 yr property tax check last month..
It was more than my materials cost for my home and also more than the land cost.

No biggy to the, "I got mine, Scxw you" crowd.

Carry on!
What a great 'community' to benefit and serve

[TurcoLoco]

Originally Posted by StealthRabbit

so... never sell your home for less than you require! very good rule of thumb.

my home is assessed at over 30% it's FMV and I would happily have sold it in 2008 for at the time it was assessed 100% over FMV. I have fought valuations for 20+ yrs (which doesn't make assessor very happy)

No sense selling now, since I need a place to lay my pillow, and can no longer can build my next home brick-by-brick.

Hopefully someone will stumble up to buy my joint from my foundation, once I'm 6 ft under. But... as mentioned it will possibly revert to National Forest (for all to enjoy, and bring their dogs to poop).
The appraiser for Assessor says his parents from CA would like it. They might get it from a tax sale, but in SWWA that is very unlikley since the tax sales go to specific investors.

Just wrote the 1/2 yr property tax check last month..
It was more than my materials cost for my home and also more than the land cost.

No biggy to the, "I got mine, Scxw you" crowd.

Carry on!
What a great 'community' to benefit and serve

Would there be a detailed section on this in the "Memoires of StealthRabbit"?

Or a booklet called "Gist of Using GIS When House Hunting"

[MtnSurfer]

Originally Posted by TurcoLoco

Would there be a detailed section on this in the "Memoires of StealthRabbit"?

Or a booklet called "Gist of Using GIS When House Hunting"

I think Stealth should provide a finder's fee service to connect buyers with sellers.

Derek