Displaying blog entries 251-260 of 353
Tracking distressed sales on the mountain in the area from Government Camp to Brightwood shows that short sales and foreclosures make up 40-50% of our area sales over the past several months on average. Nationally, these numbers match. Here is a chart showing the short sales and foreclosure movement.
March fell short of the prior two months in total sales on the mountain. Five sales were closed this past month and all were distressed. Two of the sales were FHA financed, two cash and one conventional mortgage.
The RMLS has just released the "market action" for our mountain area for Government Camp, Welches, Brightwood and Rhododendron listings and sales. This chart compares sales, listings and compares last year from this year at the same benchmark time.
Two numbers jump out at me in the stats. One is the increased marketing time for a sale and secondly the pending sale numbers down nearly 50%. We have historically low interest rates, excellent affordability levels yet buyers are not coming in to swoop up the deals. Some of the biggest names in real estate are saying this is the best time to buy property that we will see in our lifetimes. I'm speaking of Donald Trump, Barbara Corcoran, and John Paulson (who predicted the housing bubble).
Buyers should be jumping in and taking advantage of this time before interest rates creap up. Predictions are that they will hit 5.4-5.7% by the fourth quarter!
Weekend shoppers will love today's foreclosures in the Mt. Hood area located in Government Camp, Welches, Brightwood, Rhododendron!
Take advantage of 25 to 40% discounts by purchasing a foreclosure!
Here are all the recent sales for Februrary 2011. Half of these sales are foreclosures and the other half, arms length transactions. General activity seems a bit slower this month so March numbers will be interesting to see. This is a premium time to purchase with rates still low. The Fed is talking about raising rates which will impact buyer purchasing power. Take advantage of these incredible rates now!
Numbers are in from the multiple listing service for Februrary sales 2011 for Government Camp, Rhododendron, Welches and Brightwood.
Sales are down compared to this time last year. Nationally, sales are also down. Marketing times are longer with an average between the eight sales at 205 days.
NAR, the National Association of Realtors has provided this map showing what percent of distressed sales make up each state's sales.
March snows brought a big dump in Welches, Rhododendron, Brightwood and of course Government Camp. At least 16 inches of snow fell in the Cascades with much of it still on the ground. This cut buyer access for showings down for many days as side streets were nearly impassable if not plowed. Elevations of 2,000 on up are still not easy to get to.
Here are the current pending sales for our area below. Out of the ten pending sales, five are bank foreclosures. Although nationally we are hearing less foreclosures are coming on the market right now, they are only delayed and will actually slow the housing recovery. Once the paperwork has been righted, these properties will be on the market.
Did you know that the last quarter of 2010 had the greatest home affordability for the US in the past 20 years when records were started for this index! No misprint! Taking the average income of a family, this is the most affordable time to purchase a home. It looks like 2007 was the least affordable time to purchase a home. Indianpolois-Carmel, Indiana is the most affordable location in the US to buy a home today with 93% of the average income earners in the area able to purchase a home. At the other end of the spectrum, Santa Cruz, California was the least affordable for the average income earner at a 45% rate able to purchase. If you can qualify for a loan, this is the best time to purchase a home!
The numbers are in for January 2011. Six sales closed this past month. Only one foreclosure in the group. Most sales this month were second home buyers.
Displaying blog entries 251-260 of 353
