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Mt. Hood Real Estate Sales for August 2016

Thursday, September 15, 2016
by Liz Warren

August sales topped 20 this past month and the average sales price is inching up as lower priced properties disappear. The marketing time is down to an average of 59 days for the month. 

There's only 45 homes, condos and cabins for sale in Welches, Rhododendron and Brightwood right now. Government Camp inventory is higher with 33 properties for sale. Good weather has brought buyers out in force so a good fall in sales should continue with low interest rates. 

Closing times are delayed by exceptionally long appraisal delays. It sometimes takes 6-8 weeks to get an appraisal in the area. Lengthy closing dates are the norm creating chaos for buyers and sellers trying to make plans. The appraisal crisis isn't going away so it's something to keep in mind with any real estate transaction in the works with a mortgage of any kind. 

Mt. Hood Real Estate Sales for August 2016

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July Mt. Hood Real Estate Sales Increase at Top Priced Properties

Thursday, August 25, 2016
by Liz Warren

Good news for higher priced homes in the Mt. Hood area for July. Three homes sold for over $500,000 and two in the $400,000 range. Dwindling inventory and affordable mid price range homes are few and far between in this market with multiple offers coming in on many properties.

As home equities rise in Portland we are seeing many new buyers purchasing that second home. We are also seeing many new full time residents moving to the mountain to escape the urban density of Portland. Here are the July sales for Mt. Hood. 

July 2016 real estate sales on Mt. Hood

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July 2016 Sales Numbers for Mt. Hood From RMLS

Saturday, August 20, 2016
by Liz Warren

July sales numbers are in to multiple listing and here is how the month stacked up against 2015 and year to date. Pending sales are up 28% over July 2015! With this past month's sales closing we see a total of 101 year to date. Shorter days on market with a 42 day average is a big improvement. Buyer demand has been high. Many buyers are searching for waterfront which is in major shortage for 2016. Sellers with waterfront are getting top dollar for their properties. The majority of waterfront buyers have moved from deeded properties to leased land where this is a small supply of cabins. 

Closing times for lender purchases are taking lots of extra time to complete. Sometimes up to 60 days due to the Northwest appraiser shortage. Buyers and sellers are frustrated with the time frames. More rural properties outside of the urban growth boundary are suffering the most with 6 to 8 week appraisal time lines. It's at a crisis point for the real estate industry. Patience is the word of the year in getting properties to close on time with current appraisal challenges. 

        Mt. Hood real estate sales for July 2016 from RMLS

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June 2016 Sales Numbers from RMLS for Mt. Hood

Saturday, July 16, 2016
by Liz Warren

The latest RMLS sales statistics are in for the Mt. Hood area. Numbers are showing fifteen closed sales for the month of June, 2016. Activity is at a booming pace right now with occasional multiple offers depending on the property or price range.

BIGGEST CHALLENGE right now for financed properties: APPRAISALS. Lenders are having a nearly impossible time getting appraisers to come to the mountain and complete appraisals. The pace and appraisal business in Portland is in so much in demand that coming to Mt. Hood is frequently turned down for easier jobs closer to the urban core. Count on a good 30 days before you'll see an appraisal for a bank loan and that may not include the "due time" back to the lender-an additional 7-10 days. 

Delayed closings are becoming the norm for our area and that is brutal for buyers moving from far away and sellers timing their new purchase and move. I receive multiple calls in a week from mortgage brokers, banks and AMC's (Appraisal Management Companies) begging for names of appraisers. Welcome to the Mt. Hood summer market!

Mt. Hood real estate sales for the month of July 2016

 

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Investment and Vacation Home Buyers 2016 for Mt. Hood

Saturday, April 30, 2016
by Liz Warren

Investment and Vacation Home Buyers

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Mt. Hood Area Distressed Sales

Monday, April 25, 2016
by Liz Warren

You may think foreclosures and short sales have gone to the wayside in today's active market but surprisingly, although fewer are on the market these days, there are a few here and there. Take a look at the Portland metro market area. Nearly 11% of first quarter closed sales in Portland metro were either bank owned or short sales. 

Distressed Sales for Portland Metro for First Quarter 2016

The Mt. Hood area also has a few short sales and foreclosures in the market. Here is activity for Government Camp, Welches, Rhododendron and Brightwood for the first quarter foreclosures only.

2016 Mt. Hood Foreclosures for sale, pending and closed

Short sales are listed below for the first quarter on the mountain.

Mt. Hood short sales for first quarter 2016

 

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Mt. Hood March Sales!

Sunday, April 24, 2016
by Liz Warren

March sales on the mountain poured in with sixteen properties closing! A huge variety from Government Camp to Brightwood including ski homes, starters, waterfront getaways and permanent homes. Pricing points of under $250,000 are the fastest moving in today's market.

Currently there are 47 residential properties for sale with two thirds of them over $300,000! We haven't seen inventory with this pricing point dominating our market in a very long time.

Here are the March sales for 2016

Mt. Hood March 2016 sales for Government Camp, Brightwood, Rhododendron and Welches

 

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March Mt. Hood Real Estate Sales Are Up!

Sunday, April 17, 2016
by Liz Warren

 

RMLS has just released sales for March of 2016 showing sales surged for the Mt. Hood area. Many buyers are moving to the area plus vacation home purchasers are on the increase as minimal inventory is creating multiple offers on many properties.   

           Mt. Hood Real Estate Sales Statistics for March 2016

Compared to 2015 sales are up nearly 82% for March showing buyers are taking advantage of an improving Oregon economy and still low interest rates! Sixteen sales closed showing a strong first quarter finish. Compared to 2015 the first three months pending sales are up 63%. It's taking just over three months for marketing time as an average over all pricing points. 

Although we are not at the PDX frenzy point yet, many buyers need to be ready to jump right in if they see the property they want because they can go quickly.

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February 2016 Sales on Mt. Hood

Sunday, March 20, 2016
by Liz Warren

 

February saw eight closed sales  for 2016. Two mobile homes at Mt. Hood RV Village, two Government Camp condos at Collins Lake and one Shadow Hawk Condo in Welches rounded out the month. Twenty six sales are pending so I suspect the numbers to increase substantially for March and April. Spring is in the air and sellers are tidying up their properties to bring to market. All indicators are pointing to  a busy year for the Mt. Hood market. 

Real Estate Sales on Mt. Hood for February 2016

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February Market Stats from RMLS o the Mt. Hood Area

Saturday, March 12, 2016
by Liz Warren

Here are the numbers for February 2016 sales and listings recently released from RMLS. Inventory increased by 23 properties for the month and pending sales were up a whopping 77.8% compared to the same time in 2015. This shows buyers are out early this year with minimal properties available and increased demand. The market time is reduced for this past month down to 73 days. Since the start of the year pending sales are up 45% from last year. Homes under $250,000 are seeing bidding wars.

One challenge for today's conventional home sales are getting appraisers to come to our area. Since we are not a cookie cutter community of homes many appraisers find the mountain more work, charge higher fees, and some turn down the jobs completely delaying the process. Getting to the thick of spring and summer hopefully will not delay our closings because of this but it potentially could. 

    Mt. Hood Real estate sales for Februrary 2016

 

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Displaying blog entries 131-140 of 353

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