Floor Coverings International® of Vancouver is delighted to unveil the latest installment of our Influencer Interview Series. We had the chance to talk to local real estate agent John Rose all about the current market and considerations to make when buying or selling a home.
You can follow John and Rose Real Estate on Facebook, Twitter, and LinkedIn.
Tell us a little about yourself.
I’m a 4th generation Clark County resident. I’ve been in the real estate industry for 17 years as an appraiser and realtor. I’ve been married 20 years and have 3 children. I enjoy the outdoor life the Pacific Northwest has to offer including hiking, golfing, boating, skiing, and camping.
How would you describe the state of Vancouver/Portland area real estate in 2017?
The market is still very strong with very low inventory. This scenario has caused many potential buyers to hold off on selling as there is nothing to replace their existing home with. We’re still seeing many out of area buyers relocating to our area from Seattle, California, Arizona & Texas.
Mortgage rates have remained low, around 4%, which is also driving the market. I see a little bit of a slowdown going into the 4th quarter of 2017 and into 2018. I anticipate the rates to slowly go up and buyers demand to drop off next year. We will need a couple years of new construction to help with inventory.
What is one type of flooring desired by Vancouver/Portland area homeowners/homebuyers?
The number one flooring type is engineered wood flooring. Carpet is still a necessity for most bedrooms, but homebuyers and owners are looking at alternate flooring types such as Bamboo and wood-look tile.
What's one piece of advice you'd give a homeowner looking to sell?
Take the time to consult with a home designer and your realtor to determine the cost benefits of updating the home prior to selling. This can include the flooring, paint, appliances, counters, etc.
What's one piece of advice you'd give a homeowner looking to buy?
Look at the neighborhood. Make sure you purchase a home in the neighborhood you like and one that you will get a good return on your investment. You can replace the floors and paint, but you can’t replace the neighborhood.
