Displaying blog entries 11-20 of 85
If you're looking to purchase a property on Mt. Hood, you may want to consider taking a look at these available properties located in Government Camp, Oregon. There's quite a few to choose from-classic vintage log cabins to top of the line contemporaries. Interest rates are on the upswing so now is the time to get in on the ground floor with more affordable payments.
Is this the time to invest in that great ski chalet in Government Camp? All buyers would agree that the selection is exceptional right now. Take a look at today's Mt. Hood inventory. Call or email for any additional info on these great properties.
Opportunity knocks in this ski mecca of Government Camp. An Alpenglade home just hit the market! Located in one of the most sought after subdivisions in Government Camp, this is a rare opportunity to purchase in the heart of ski country ony 75 minutes from Portland!
This is a great home with a super floor plan for a vacation home. There's three bedrooms, two baths, and a huge family room downstairs. High vaulted ceilings are in the main living room area with an open living room, dining room and kitchen. A huge woodstove sits in a tiled hearth to warm the toes after a big day skiing.
A laundry room sits off the kitchen and the master is on the main floor! Walk upstairs for two additional bedrooms and a bath. The slider off the main living area takes you to a massive deck for summertime barbeques. What a location! The back side of the property borders Mt. Hood National Forest and the South side of the lot has common area with a creek. Across the street is more common area too.
Fully plowed in the winter time, the roads are easy to navigate and there are parking areas for your guests. The home has an attached oversized single car garage too.
There are three major ski areas close to Government Camp. Forget that weekend drive back and forth from Portland. This is the perfect landing spot for year round recreation!
$460,000
Check out this link to see the events scheduled for this weekend. Lots of art and wine events hosted through many local businesses.
Dr. Shelley Redinger , superintendent of the Oregon Trail School District sends this thank you:
wHow does the Mt. Hood area fair compare to other areas of the country as far as negative equity in homes? Well, I can't say specifically what happens on the mountain but it is a reflection of the general Oregon market. Sources such as First American CoreLogic says 18.3% of properties with mortgages are underwater. Most of these states are Nevada, Arizona, Florida and hard hit Michigan with the Detroit carnage.FAC says Oregon mortgages are at 7.5% underwater which, believe it or not is the 6th lowest percentage of all states. Washington is right behind us.
So, if you think it's bad around here-it isn't! It's GREAT compared to the rest of the U.S.!
Here's a little more info mapping the negative equity states from the Wall Street Journal.
Looking to purchase a foreclosure in the Mt. Hood Area? foreclosures are popping up in Welches, Government Camp, Rhododendron and Brightwood.
Foreclosure and Short Sales Info
Over the last 24 months, Oregon went from number 2 to having the 23rd highest foreclosure rate on a national basis. As of September 2008 there have been 2,344 foreclosure filings which equivocate to 1 filing for every 644 housing units. Foreclosure filings are up 26% from August 08 and up 139% from September 2007. The majority of these distressed properties are located in the greater Portland metropolitan area.
In comparison, the state of California, which accounts for ~60% nationally of all foreclosure activity has 69,548 properties with foreclosure filings, equivocating to 1 in every 189 housing units. Washington has 1 foreclosure filing out of every 1,383 housing units.
Below are some comments from our partners that actively work in this arena.
Short Sales - An option for those who have money & the time. A short sale is where a property owner wants to sell their home but they have a higher mortgage debt on the property than the price they can sell the house for. First, seller and buyer must agree on a price and then they go to the lender with comparable homes sales data to support the decline in value plus a compelling story and documentation that proves the seller does not have the funds to pay off the entire mortgage due. Sound simple? Not really. Short Sales on average take 90-120 days to complete if successfully negotiated. Clients and real estate brokers should work with a professional who knows the ropes. Investment property owners who sell under a Short Sale agreement should be aware of the new exclusionary rule coming that will tax all or a portion of the ‘gain’ the home seller realizes from a short sale closing. A big thanks for sharing this information Kim: Kim Dodge at Usher Financial (503) 595.1600
Are we glad October is over? What a wacky month! Between the fluctuating stock market and election news I am more than ready for November! The weekend rain has done a good job of knocking another third of the leaves down for yard clean up. I am having my ususal fall back transition issues and getting my internal clock adjusted. What the hec am I'm doing up this early? I don't know.
So, here are the numbers! These are the sales for October for Government Camp, Welches, Rhododendron, and Brightwood:
The good news is that Government Camp had another sale over $500,000! This market has been hard hit with few sales of single family homes in the upper price range.
One forest service cabin closed this month. This segment also has lots to choose from and less buyers making it quite competitive. New lease fees are coming up this January so we will see what the increase does to inventory at that time.
Ok, it's on to November and election night is tomorrow. Hopefully once this is settled things will loosen up a bit.
The hidden jewels in the Mt. Hood National Forest are these forest service cabins. Scattered along rivers and creeks in the pristine Mt. Hood forest you can find these special cabins. Many were built in the 1920's and 30's as summer cabins for Portland residents.
Here is the current inventory right now. These cabins are mainly in the areas of Government Camp and Rhododendron. For additional details, send an email or call me.
Many buyers are searching for foreclosures in Government Camp, Welches, Rhododendron and Brightwood. The Mt. Hood area has relatively few foreclosures compared to other areas near the Portland metro area and Portland itself. The majority of homes that have shown up as foreclosures have been in the Timberline Rim subdivision.
Most of these foreclosed homes in Timberline Rim are under $300,000 and the majority fall in the low $200,000 range or less. When compared to subdivisions closer in such as in Sandy and the Happy Valley area, we have really not had the hard hits that many of these newer subdivisions have had. Lack of available land to develop with"new subdivisions" in the past couple of years has caused an escape from this problem.
foreclosures do bring values down. Banks price these homes to go out the door. These foreclosure sales will be used as comparable for conventional loans. New lending rules require home sales in the past two to three months to be used as the comparables whether foreclosures or not. They will help establish values for bank loans to buyers.This s the bad news.
The good news is that once the inventory of foreclosed homes are gone, existing home inventory gets adjusted to "market" and gets sold, values will stabilize and eventually we will be back to a more equal market for buyers and sellers.
Displaying blog entries 11-20 of 85
