Displaying blog entries 261-270 of 353
Don't forget, real estate is LOCAL. Nationally the news is that sales were up around 12% nationally for the month of December. We can see that is not the case in the Mt. Hood area although activity has picked up for January. Pending sales compared to last year at this time is down 27%. Overall for the year, sales are down nearly 9%.
Collins Lake foreclosures are dominating the market in Government Camp. Here is a recent new listing that just became available today.
Another foreclosure unit went pending today, listed at $240,000
The last two sales closing in Collins Lake were also foreclosures. Once closing at $207,000 and another at $234,000.
December 2010 saw six closed sales for the month according to multiple listing service. Here are the six sales:
The first two listed are foreclosures. Two properties were in Government Camp. The majority of homes selling at this time are second homes vs. primary residential properties. Three of these sales were cash and three with conventional loans.
Looking for a foreclosure in Government Camp? Look no more. Three units are on the market as 2010 ends. Two are Collins Lake Units and one Eidelweiss unit is currently available. Here are the details below.
A local subdivision, Timberline Rim, in the Mt. Hood area recently had their CC and R's (Covenants, Conditions and Restrictions) extended by a majority vote. Recently buyers for that area have had some anxiety with the the possibility that the vote for extension would not be approved. We are waiting for details soon to be released.
November 2010 saw an increase in sales for the month! Fifteen sales closed from Government Camp, Welches, Brightwood, and Rhododendron. Mt. Hood real estate sales are picking up and this month proves it.
Here are the fifteen sales in November direct from multiple listing. SEVEN of these sales were bank owned properties including two Collins Lake Condos in Government Camp.
Information has just been released for November 2010 sales in the Mt. Hood area including Welches, Brightwood, Government Camp and Rhododendron. Below are the numbers straight out of our local multiple listing service.
Comparing the same month, November 2009, pending sales are down 35%. This is comparing the forth quarter of the year when the GNP was over 5%. What a difference a year makes.
Here are the numbers from RMLS for 2010 to give you an idea of what is happening as of the end of October. Average sale prices are down nearly 20% compared to last year. This is obviously due to the foreclosure sales this year at the lowest end of the pricing range. Our pending sales compared to last year at this time are down 23%. This reflects the difficulty in getting mortgage money in current times. Most sales that become pending through the rest of the year will probably close in 2011 with the banks moving at a snail's pace. Here's hoping 2011 will see lots of improvement!!
Eight total sales for the month of October. Here they are:
Three foreclosures this month and several second homes with price tags over the $300,000 mark. Finally, a sale in Government Camp!
It's been a dry spell for Collins Lake sales in Government Camp since January. Although the market is quite saturated with inventory, finally two units have closed in November. Both were cash sales but the prices a bit surprising.
Both of these units were foreclosures. The one selling for $234,000 was originally sold in November of 2005 for $439,000.
Financing is difficult for units, that is, if you can find it these days. Conventional lenders are placing these units under the "condotel" umbrella.
From Wikipedia: A Condo hotel, also known as a hotel-condo or a Condotel, is a building used as both a condominium and a hotel.
Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts.[1] These hotels have condominium units which allow someone to own a full-service vacation home. When they aren’t using this home, they can leverage the marketing and management done by the hotel chain to rent and manage the condo unit as it would any other hotel room.
So it goes with Collins Lake. This might be a hard pill to swallow for unit owners but until financing loosens up, this will be the hand dealt.
Displaying blog entries 261-270 of 353
