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Start Your Mt. Hood Home Search Today

Thursday, August 25, 2022
by Liz Warren

Why You May Want To Start Your Home Search Today

Why You May Want To Start Your Home Search Today | MyKCM
 

If you’re thinking about buying a home, you likely have a lot of factors on your mind. You’re weighing your own needs against higher mortgage rates, today’s home prices, and more to try to decide if you want to jump into the market. While some buyers may wait things out, there’s a reason serious buyers are making moves right now, and that’s the growing number of homes for sale.

So far this year, housing inventory has been increasing and that’s making the prospect of finding your dream home less difficult. While there are always reasons you could delay making a big decision, there are also always reasons to consider moving forward. And having a growing number of options for your home search may be exactly what you needed to feel more confident in making a move.

What’s Causing Housing Inventory To Grow?

As new data comes out, we're getting an updated picture of why housing supply is increasing so much this year. As Bill McBride, Author of Calculated Risk, explains:

“We are seeing a significant change in inventory, but no pickup in new listings. Most of the increase in inventory so far has been due to softer demand - likely because of higher mortgage rates.”

Basically, the inventory growth is primarily from homes staying on the market a bit longer (known as active listings). And that’s happening because higher mortgage rates and home prices have helped moderate the peak frenzy of buyer demand.

The graph below uses data from realtor.com to show how much active listings have risen over the past five months as a result (shown in green):

Why You May Want To Start Your Home Search Today | MyKCM

Why This Growth Is Good News for You

Regardless of the source, the increase in available housing supply is good for buyers. More housing supply actively for sale means you have more options as your search for your next home. A recent article from realtor.com explains just how significant the inventory growth has been and why it’s good news for your plans to buy:

“Nationally, the inventory of homes actively for sale on a typical day in July increased by 30.7% over the past year, the largest increase in inventory in the data history and higher than last month’s growth rate of 18.7% which was itself record-breaking. This amounted to 176,000 more homes actively for sale on a typical day in July compared to the previous year and more choice for buyers who are still looking for a new home.”

The growth this year is certainly good news for you, especially if you’ve had trouble finding a home that meets your needs. If you start your search today, those additional options should make it less difficult to find a home than it would have been over the past two years.

The Mt. Hood area now has 37 properties on the market for you to choose from! This is a substantial improvement with some prior months having only six or seven properties to choose from. 

Bottom Line

If you’re ready to jump into the market and take advantage of the increasing supply of homes for sale, let’s connect today. The opportunity is knocking, will you answer?

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Three Tips for Selling Your Mt. Hood Home Now

Thursday, August 11, 2022
by Liz Warren

             

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Is This a Shifting Market for Mt. Hood Homebuyers?

Wednesday, August 10, 2022
by Liz Warren

Is the Shifting Market a Challenge or an Opportunity for Mt. Hood Homebuyers?

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM
 

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer.

But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans.

The Challenge

There were many reasons for the limited number of homes on the market during the pandemic, including a history of underbuilding new homes since the market crash in 2008. As the graph below shows, housing supply is well below what the market has seen for most of the past 10 years (see graph below):

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM

The Opportunity

But that graph also shows a trend back up in the right direction this year. That’s because moderating demand is slowing the pace of home sales and that’s one of the reasons housing supply is finally able to grow. For you, that means you’ll have more options to choose from, so it shouldn’t be as difficult to find your next home as it has been recently.

And having more options may also lead to less intense bidding wars. Data from the Realtors Confidence Index from the National Association of Realtors (NAR) shows this trend has already begun. In their recent reports, bidding wars are easing month-over-month (see graph below):

Is the Shifting Market a Challenge or an Opportunity for Homebuyers? | MyKCM

If you’ve been outbid before or you’ve struggled to find a home that meets your needs, breathe a welcome sigh of relief. The big takeaway here is you have more options and less competition today.

Just remember, while easing, data shows multiple-offer scenarios are still happening – they’re just not as intense as they were over the past year. You should still lean on an agent to guide you through the process and help you make your strongest offer up front.

Mt. Hood inventory now sits at 30 available properties. One third of those properties are over $1,000,000. We've seen an increase of Mt. Hood National Forest inventory up to five available cabins!

Bottom Line

If you’re still looking to make a move, it may be time to pick your home search back up today. Let’s connect to kick off the home buying process.

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Fire Restrictions on the Mt. Hood National Forest

Monday, August 8, 2022
by Liz Warren
 
Mt. Hood National Forest
Forest Service News Release
 
Fire Restrictions on Mt. Hood National Forest
 
 
Due to dry and hot conditions, campfires are prohibited across the Mt. Hood National Forest, beginning Wednesday, August 10, 2022.
 
All campfires, charcoal or briquette fires, pellet fires, or any other open fires are prohibited under a Forest Order, including in developed campgrounds. Portable cooking stoves, lanterns, and heating devices using liquefied or bottled fuel, such as propane, are still allowed as they can be instantly switched off. Additionally, target shooting is temporarily prohibited because of the risk of wildfire.
 
While the Forest enjoyed a wet and cool spring, dry July and August conditions have resulted in low moisture levels in vegetation, increasing the risk of wildfire. With the current dry and warm long-range forecast, any wildfire start poses a greater threat to firefighter safety, public safety, and personal property. 
 
“The Forest has recently seen an uptick in wildfires, many of which are human caused,” said Dirk Shupe, Fire Management Staff Officer for the Mt. Hood National Forest. “With a dry August ahead, we want to limit the unnecessary risk caused by abandoned or escaped campfires to our local communities, and the recreating public.”
 
More wildfire information can be found at: https://www.fs.usda.gov/main/mthood/fire
 
For more information about the local and regional fire outlook, visit: https://gacc.nifc.gov/nwcc/predict/outlook.aspx
 
And remember, fireworks are always prohibited on national forests.

 

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Zig Zag Riverfront Four Bedroom Cabin

Sunday, August 7, 2022
by Liz Warren

Skiers will love this location which is right on the Zig Zag River and only about five minutes to Government Camp. Tons of room with four bedrooms and two and a half baths to sleep a boat load of people. Wood floors and a cozy fireplace, paned windows, with a large main living area.HUGE deck that looks right over a pristine forest and a short walk down to the river! $425,000

 

Zig Zag Riverfront Cabin on Mt. Hood

       Zig Zag Riverfront Cabin Living room and fireplace    Dining Room of the Zig Zag Riverfront Cabin

       Main Bedroom in the Zig Zag Riverfront Cabin    Zig Zag River

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Housing Market Forecast for the Rest of 2022

Friday, August 5, 2022
by Liz Warren

Housing Market Forcast

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Let's Talk Recessions

Monday, August 1, 2022
by Liz Warren

Mortgage Rates and Recessions

Info on Mortgage Rates and Recessions

Recession Doesn't Equal Housing Crisis

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Real Estate Fact and Fiction

Friday, July 29, 2022
by Liz Warren

A Real Estate Professional Helps You Separate Fact from Fiction

A Real Estate Professional Helps You Separate Fact from Fiction | MyKCM
 

If you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t give the full picture. The real estate market is shifting, and when that happens, it can be hard to separate fact from fiction. That’s where a trusted real estate professional comes in. They can help debunk the headlines so you can really understand today’s market and what it means for you.

Here are three common housing market myths you might be hearing, along with the expert analysis that provides better context.

Myth 1: Home Prices Are Going To Fall

One piece of fiction many buyers may have seen or heard is that home prices are going to crash. That’s because headlines often use similar, but different, terms to describe what’s happening with prices. A few you might be seeing right now include:

  • Appreciation, or an increase in home prices.
  • Depreciation, or a decrease in home prices.
  • And deceleration, which is an increase in home prices, but at a slower pace.

The fact is, experts aren’t calling for a decrease in prices. Instead, they forecast appreciation will continue, just at a decelerated pace. That means home prices will continue rising and won’t fall. Selma Hepp, Deputy Chief Economist at CoreLogic, explains:

“. . . higher mortgage rates coupled with more inventory will lead to slower home price growth but unlikely declines in home prices.”

Myth 2: The Housing Market Is in a Correction

Another common myth is that the housing market is in a correction. Again, that’s not the case. Here’s why. According to Forbes:

“A correction is a sustained decline in the value of a market index or the price of an individual asset. A correction is generally agreed to be a 10% to 20% drop in value from a recent peak.”

As mentioned above, home prices are still appreciating, and experts project that will continue, just at a slower pace. That means the housing market isn’t in a correction because prices aren’t falling. It’s just moderating compared to the last two years, which were record-breaking in nearly every way.

Myth 3: The Housing Market Is Going To Crash

Some headlines are generating worry that the housing market is a bubble ready to burst. But experts say today is nothing like 2008. One of the reasons why is because lending standards are very different today. Logan Mohtashami, Lead Analyst for HousingWire, explains:

“As recession talk becomes more prevalent, some people are concerned that mortgage credit lending will get much tighter. This typically happens in a recession, however, the notion that credit lending in America will collapse as it did from 2005 to 2008 couldn’t be more incorrect, as we haven’t had a credit boom in the period between 2008-2022.”

During the last housing bubble, it was much easier to get a mortgage than it is today. Since then, lending standards have tightened significantly, and purchasers who acquired a mortgage over the last decade are much more qualified than they were in the years leading up to the crash.

Bottom Line

No matter what you’re hearing about the housing market, let’s connect. That way, you’ll have a knowledgeable authority on your side that knows the ins and outs of the market, including current trends, historical context, and so much more.

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Three Reasons To Buy a Home on Mt. Hood in Today’s Shifting Market

Friday, July 29, 2022
by Liz Warren

 

Three Reasons To Buy a Home in Today’s Shifting Market [INFOGRAPHIC] | MyKCM
 

Some Highlights

  • The housing market is moving away from the frenzy of the past year and it’s opening doors for you if you’re thinking about buying a home.
  • Housing inventory is increasing, which means more options for your search. Plus, the intensity of bidding wars may ease as buyer demand moderates, leading to fewer homes selling above asking price.
  • If you’re ready to buy a home, now may be the moment you’ve been waiting for. Let’s connect to start the homebuying process today.
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Inventory Increases on Mt. Hood

Wednesday, July 27, 2022
by Liz Warren

Want To Buy a Home On Mt. Hood? Now May Be the Time.

Want To Buy a Home? Now May Be the Time. | MyKCM
 

There are more homes for sale today than at any time last year. So, if you tried to buy a home last year and were outbid or out priced, now may be your opportunity. The number of homes for sale in the U.S. has been growing over the past four months as rising mortgage rates help slow the frenzy the housing market saw during the pandemic.

Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains why the shifting market creates a window of opportunity for you:

“This is an opportunity for people with a secure job to jump into the market, when other people are a little hesitant because of a possible recession. . . They’ll have fewer buyers to compete with.”

Two Reasons There Are More Homes for Sale

The first reason the market is seeing more homes available for sale is the number of sales happening each month has decreased. This slowdown has been caused by rising mortgage rates and rising home prices, leading many to postpone or put off buying. The graph below uses data from realtor.com to show how active real estate listings have risen over the past four months as a result.

Mt. Hood has 36 active listings from Government Camp to Brightwood. This is the most we've seen in a very long time!

Want To Buy a Home? Now May Be the Time. | MyKCM

The second reason the market is seeing more homes available for sale is because the number of people selling their homes is also rising. The graph below outlines new monthly listings coming onto the market compared to last year. As the graph shows, for the past three months, more people have put their homes on the market than the previous year.

Want To Buy a Home? Now May Be the Time. | MyKCM

Bottom Line

The number of homes for sale across the country is growing, and that means more options for those thinking about buying a home. This is the opportunity many have been waiting for who were outbid or out priced last year.

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Displaying blog entries 211-220 of 526

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Liz Warren
Merit Properties Group - Keller Williams Realty PDX Central
Box 131
Welches OR 97067
Direct: 503-705-3090
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