Is it a Good Time to Buy a House? (2023)

Parents and little girl holding the keys to their new Vancouver WA home

If you’ve been considering making a new home purchase, whether you’re looking to buy your first home or are a seasoned investor, you’ve probably seen many news stories about the current challenges in the real estate market. While many buyers have been discouraged from making a purchase, the truth is, it’s still a great time to buy a house! Here in Vancouver WA, demand is dropping – which means prices are, too. If you want to buy your dream house at a great price, the summer of 2023 is the time to do it.

Why is Now a Good Time to Buy a House?

Most often we see home prices rise incrementally over time, unlike what we saw in 2020 and 2021. However, prices tend to level off when there is a lack of demand. In some cases – like right now – the prices will decline in price in what’s referred to as “market correction”. Buying a home during the current market correction offers a lot of benefits, such as:

  • Lower purchasing prices: Due to the decrease in demand, many sellers are lowering their prices as a way to entice buyers. That means you can scoop up your dream house for a much lower price than if you were to buy when the demand is high.
  • Opportunity to refinance in the future: Don’t let interest rates scare you off! Though mortgage interest rates are higher than the historic lows we’ve seen in recent years, they are still considerably low. Buying now while prices are declining and refinancing to a better rate later on will allow you to save money in the long run.
  • More inventory to choose from: Since fewer people are buying homes right now, you’ll have more houses to choose from. You can be a little pickier about the features, amenities, and location when shopping for your ideal property.
  • Less competition from other buyers: Nothing’s more discouraging than falling in love with a home, making an offer, and watching it go to a different buyer. With the decrease in demand, you won’t have to worry as much about competing with other buyers for the house you want.
  • Opportunities to negotiate more favorable terms: With a decrease in people shopping for houses, sellers are more likely to change their terms to entice buyers. You may be able to negotiate better terms in your offer, such as repairs or interest rate buy-downs… all at a price that’s within your budget!

Find Your Dream Home Today

Whether you’re a first-time buyer or you’re adding to an investment portfolio, Zenith Properties will simplify the process! With over 30 years of experience serving the Vancouver WA area, we know the ins and outs of our local markets. Our team can help you find the perfect neighborhood and home for your lifestyle, budget, and needs. We’re here to walk you through each step of the home-buying process, guaranteeing you receive personalized and responsive service! To learn more or get started, give us a call today.

Things to Do Before You Move

Moving boxes in Vancouver WA - Zenith Properties NW

Things to Do Before You Move

When all of your belongings are safely tucked away in boxes and you’ve got the suitcases packed, you may think you’re totally ready to move. However, there are several important things that you may have forgotten to take care of.

To stay organized and cut down on stress, there are some essential tasks to handle before moving day rolls around. Here’s a checklist of things to do before you move so you can seamlessly transition into your new home:

  • Patch and repaint where needed: If you put artwork or posters up on your walls, it’s time to take those down and store them for your new home. Remove any tacks, nails, or screws and patch the holes using some spackle. Then, paint over the patch to match the rest of the walls. This may also be a good time to repaint any walls you changed the color of, so they are back in their original state.
  • Do some landscaping. It can be easy to forget about your yard, outdoor patio, or balcony. However, forgetting to do maintenance outdoors could result in fees from your landlord. You don’t have to go overboard – just be sure to pull any weeds, mow the lawn, and sweep your patio.
  • Cancel your mail subscriptions. You don’t want to forget about any packages scheduled to arrive at your doorstep on a regular basis. Take some time to move any prescriptions or monthly subscriptions to your new address.
  • Transfer your utilities. To avoid excess costs, it’s important to cancel old utilities, internet services, or other services associated with your house or apartment. For an easier transition, you can also take this opportunity to set up utilities for your new home.
  • Change your address and forward your mail. Notifying the US Postal Service of your new address can prevent your mail from arriving at the wrong place. You can also set a date for them to begin forwarding your mail to your new address.
  • Notify others about your address change. It’s important for insurance providers, banks, and the DMV to have your correct address on file. It may also be useful to switch any online accounts, like Amazon, to your new address.
  • Arrange an inspection with your landlord. Having your landlord perform an inspection before you move can help you avoid cleaning or repair fees later on. During the inspection, you can make sure there isn’t anything else you need to do to get your deposit back.

These are just a few tips for a smooth transition into your new home. For more information on moving and renting, visit our blog or contact us today! Serving all of Clark County, WA for over 30 years, Zenith Properties NW can answer all of your questions.