Vancouver, WA (PRWEB) May 25, 2008
Although certain parts of the US have experienced much pain from the sub prime loan fiasco and the resulting foreclosures, Vancouver has been fortunate, according to Jon Woolley, a Realtor with John L Scott Real Estate, in Vancouver, WA.
Vancouver, WA has avoided the shadow of foreclosures with only 1 in 500 homes in foreclosure. Las Vegas, in contrast has 10 in 500 home in foreclosure. The real estate market in Vancouver is fairly solid. Despite the relative strength of the Vancouver market, home sellers have still resorted to price reductions and other incentives to sell their homes. That's good news for smart home buyers.
The Case for Buying Today
Home mortgage interest rates are near historic lows, and there is great selection in most price ranges, in most areas. Sellers have reduced their prices anywhere from 7-20% off the market peak of 2006, and are also offering a lot of incentives to buyers.
We are at the beginning of the next real estate appreciation cycle. Washington State, over the next 12 years, is projected to grow at the rate of 1.6 percent annually. Additionally, children of the 'Baby Boomers', known as 'Echo Boomers' are just now starting to enter the home buying market
Concludes Woolley "Shrewd buyers will look past the negative news published daily, and concentrate on finding golden nuggets of value. They're out there."
Visit Vancouver WA Real Estate for more information about buying, selling, and investing in Vancouver, WA.