Displaying blog entries 281-290 of 353
Choices, choices and more choices! Government Camp has a great inventory of Collins Lake Condos current available for sale. Get ready for winter skiing and pick up your Condo now! Here's the inventory:
Mt. Hood real estate sales for June 2010 hit a whopping 15 sales. Here is the most recent chart from NAR-National Association of Realtors showing national sales for the month of June 2010. Is the Mt. Hood area bucking a national trend?
Look at the number of sales in 05 and 06 compared to today's figures. As a general statement, the mountain sales have probably declined in numbers by two thirds at the height of the market in 05-06.
A record number of sales closed in June 2010 in the Mt. Hood area. Most of them went pending in March and April. Seven of the fifteen were bank foreclosures. Nine sales were under $200,000. The good news is that there were two Resort at the Mountain homes which sold. That area has seen some spark recently with a few sales and some new properties coming on the market. Here are the June sales for 2010 in the Mt. Hood area:
The numbers are in for June 2010 for Mt. Hood area real estate sales straight out of RMLS. The numbers are impressive with a total of 15 sales closing. My estimate is that these sales were put together in March and April and finally closed. We have seen a weakening of pending sales at the moment but hope with the fantastic weather we are having that more buyers will take advantage of the incredible inventory currently on the market. Now is the time to get a hec of a deal on a mountain property!
Market indicators show increasing inventory, fewer pending sales for the month, longer marketing periods but pending sales up nearly 50% year to date from 2009!
Here are the seven sales for the month of May in 2010 in the Mt. Hood Area. Two of these homes were foreclosures and finally, a forest service cabin sold!
Now that the Fed stimulous is over there is a major rush to close those deals by the end of June. This may have pushed purchasers into the first half of the year for buying and many experts predict a lag in July and August since many buyers took advantage of that tax credit opportunity. Even though this tax credit was extended into 2010, only one fifth of the numbers seen in 2009 took advantage compared to the surge of sales in 2009. Numbers are weak throughout the US for 2010 with new mortgage applications lagging and new construction sales down by 32% according to Reuters today.
The Portland Metro RMLS has sent out the latest sales for May 2010. Here are the stats:
The numbers tell the story. Lots of inventory coming on to the market for summer with 36 new listings in May! Although this chart tells us there were six sales, there were actually seven. Pending sales are up compared to last year at this time with a 50% increase. The majority of these pending sales are foreclosures under $200,000.
If you are considering purchasing a foreclosure on Mt. Hood from Government Camp, Rhododendron, Welches or Brightwood, you may want to review the "gut check list" here:
Distressed Property Buyer Info
foreclosures demand a different mindset from buyers and they need to be mentally prepared.
Congress is at it again. They are working towards changing the tax code to have negative impacts on owning real estate. If you have a rental you may want to pay attention to this:
1) Congress is proposing that all owners of rental properties be required to file IRS 1099 forms on service providers such as electricians, plumbers, and landscapers. This arduous provision would apply to even the smallest landlord, as anyone who receives rental income will be required to comply with the new tax provisions if they pay any contractor $600 or more in any given year.
2) Congress is considering taxing “carried interest” at ordinary income rates instead of capital gains. Carried interest rules govern how general partners in real estate investments pay taxes when an investment is sold. By increasing the tax burden on these real estate partnerships, the proposal would make real estate a less attractive investment. For the first time, this proposal would prevent a particular type of real estate investment gain from qualifying for capital gains.
You should contact Ron Wyden, Jeff Merkley and Earl Blumenauer and let your opinion get voiced today!
What market segments closed in April 2010? Sales for the Mt. Hood area were up in numbers-that's the good news. The negative news is that five of the ten sales were foreclosures. On the other hand, that is good news in that the inventory is getting reduced. Take a look at the ten sales below. The two higher end sales-over $300,000 were foreclosures. There are currently twelve foreclosures on the market in the Mt. Hood area.
The numbers for April 2010 have just been released from the multiple listing service. The number of sales is way up from April of 2009 when the stock market crash and losses were still fresh in everyone's mind. A whopping ten sales happened last month.
The numbers tell us pending sales are up compared to last April by 114% and pending sales year to date up 72%. This is good news because it shows action in the market! The average sale price is declining with foreclosures clouding the inventory.
Displaying blog entries 281-290 of 353
