Friday, August 5, 2022

One Level Homes Still the Hottest

As more inventory creates a bit of maneuverability in the market buyers may find the single level homes are holding firm versus two story homes. Single level homes are common targets for two major buying demographics. The starter home buyer and the downsizing senior. This creates a little extra pressure on pricing for these homes versus a two story home that tends to be avoided by the latter group.

First time Buyers trying to get a bargain should look at smallish two level homes rather than similar sized one levels as it eliminates competition from the senior down-sizers. Although these smaller two level homes can sometimes feel a tad cramped on the main level they often offer a good utilization of space and leave a smaller foot print on the lot that either creates more yard space or allows for a smaller and thus less expensive lot. 

Seniors downsizing often have a large downpayment or are all cash and that gives them a bit of a bargaining edge with sellers. First timers should try to avoid directly competing for the same homes as downsizing seniors. 

Vancouver and Clark County has a large selection of smallish 1500-2000 SF two story homes that are seeing a softening in price right now. You can get a lot of house for less looking at split entry homes that are scattered all over the area.

That's the tip of the week.

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