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December 2016 Real Estate Sales

Saturday, January 14, 2017
by Liz Warren

End of year Mt. Hood sales totaled eighteen to wrap up the year with a nearly eleven percent increase over 2015. The biggest challenge in 2016, in getting any home closed, were the appraisals. The appraisal shortage has increased closing times for nearly all loans going through financing. What once was a traditionally 30 day closing for a home sale is now frequently a three month process. Stress and frustration levels are at an all time high for buyers and sellers. Escalating costs for appraisals have increased costs for buyers hitting the $900-$2000 just for an appraisal. 

 

December 2016 Sales

Mt. Hood Real Estate Sales November 2016

Mt. Hood Real Estate Sales December 2016

Mt. Hood Real Estate Sales December 2016

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Mt. Hood Real Estate Sales for October

Monday, November 14, 2016
by Liz Warren

As we head into fall, the past month of October was still packed full of pending sales and 20 completed sales, probably finishing up summer contracts that have been going through the mortgage process. I'm warning buyers and sellers that some transactions are taking 2 to 3 months to close due to extensive appraisal waiting times. 

October saw higher sale prices making the average sale price $326,700 for the month. Closed sales for the year so far has hit 171! With only 60 active listings the inventory is thinning quickly with continued high demand and low supply. Interest rates are inching up after the election results so any first time home buyers should make their move now!

 

Mt. Hood Real Estate Sales and Listings for October 2016

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September Closed Sales on Mt. Hood Were Huge!

Saturday, October 22, 2016
by Liz Warren

September 2016 saw a huge number of closed sales for Rhododendron, Welches, Brightwood and Government Camp. Area 153 in the multiple listing service reported 27 residential sales closed for the month.

Rising equities in Portland, new residents and increased density in Portland has caused an uptick in buyers for the Mt. Hood area. This includes full time and second home buyers heading for the Cascade Foothills. Our properties are much more affordable than inside the urban growth boundary making mountain living very attractive to many!

Timberline Rim, which is Mt. Hood's largest subdivision running along the Sandy River, saw seven sales close for the month. The "Rim" as locals call it, is one of the most affordable areas to purchase on the mountain. Most homes were built within the last twenty five or so years so they are relatively new compared to many of our 1930's and 40's cabin which frequently have financing challenges. 

Speaking of affordable, two tiny homes at the Mt. Hood RV Village Resort changed hands. These properties have recreational amenities with indoor pool and weight room plus gated access for security. Downsizers love these properties and the space rent runs in the area of $550 a month.

forest service cabin inventory is way down with multiple offers on many cabins as soon as they hit the market. Only about five cabins are currently for sale. Three closed in September. These are great getaways for urban dwellers who need space to relax and get away from the crowds of big cities and small spaces. 

Here are the twenty seven sales that closed in September.


Mt. Hood Real Estate sales for September 2016


Welches Real Estate sales for 2016 September


Mt. Hood Real Estate Sales 2016 September


Mt. Hood Real Estate Sales 2016 September

Mt. Hood Real Estate Sales 2016 September

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Mt. Hood Real Estate Sales for August 2016

Thursday, September 15, 2016
by Liz Warren

August sales topped 20 this past month and the average sales price is inching up as lower priced properties disappear. The marketing time is down to an average of 59 days for the month. 

There's only 45 homes, condos and cabins for sale in Welches, Rhododendron and Brightwood right now. Government Camp inventory is higher with 33 properties for sale. Good weather has brought buyers out in force so a good fall in sales should continue with low interest rates. 

Closing times are delayed by exceptionally long appraisal delays. It sometimes takes 6-8 weeks to get an appraisal in the area. Lengthy closing dates are the norm creating chaos for buyers and sellers trying to make plans. The appraisal crisis isn't going away so it's something to keep in mind with any real estate transaction in the works with a mortgage of any kind. 

Mt. Hood Real Estate Sales for August 2016

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July 2016 Sales Numbers for Mt. Hood From RMLS

Saturday, August 20, 2016
by Liz Warren

July sales numbers are in to multiple listing and here is how the month stacked up against 2015 and year to date. Pending sales are up 28% over July 2015! With this past month's sales closing we see a total of 101 year to date. Shorter days on market with a 42 day average is a big improvement. Buyer demand has been high. Many buyers are searching for waterfront which is in major shortage for 2016. Sellers with waterfront are getting top dollar for their properties. The majority of waterfront buyers have moved from deeded properties to leased land where this is a small supply of cabins. 

Closing times for lender purchases are taking lots of extra time to complete. Sometimes up to 60 days due to the Northwest appraiser shortage. Buyers and sellers are frustrated with the time frames. More rural properties outside of the urban growth boundary are suffering the most with 6 to 8 week appraisal time lines. It's at a crisis point for the real estate industry. Patience is the word of the year in getting properties to close on time with current appraisal challenges. 

        Mt. Hood real estate sales for July 2016 from RMLS

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June 2016 Sales Numbers from RMLS for Mt. Hood

Saturday, July 16, 2016
by Liz Warren

The latest RMLS sales statistics are in for the Mt. Hood area. Numbers are showing fifteen closed sales for the month of June, 2016. Activity is at a booming pace right now with occasional multiple offers depending on the property or price range.

BIGGEST CHALLENGE right now for financed properties: APPRAISALS. Lenders are having a nearly impossible time getting appraisers to come to the mountain and complete appraisals. The pace and appraisal business in Portland is in so much in demand that coming to Mt. Hood is frequently turned down for easier jobs closer to the urban core. Count on a good 30 days before you'll see an appraisal for a bank loan and that may not include the "due time" back to the lender-an additional 7-10 days. 

Delayed closings are becoming the norm for our area and that is brutal for buyers moving from far away and sellers timing their new purchase and move. I receive multiple calls in a week from mortgage brokers, banks and AMC's (Appraisal Management Companies) begging for names of appraisers. Welcome to the Mt. Hood summer market!

Mt. Hood real estate sales for the month of July 2016

 

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Twenty One Sales In December 2015

Tuesday, January 26, 2016
by Liz Warren

The close of 2015 produced 21 closed sales for the month. Surprisingly, three of those sales were bank owned properties. The mountain had 13 bank owned properties sell in 2015 which was down from 16 for 2014. Three Timberline Rim properties, a popular subdivision along the Sandy River, changed hands. 

Inventory is down in all pricing points right now and many sellers are getting their properties ready for the 2016. State regulations and lender financing requirements make preparation a must to get a property prepared to go on the market. Getting any repairs completed prior to going on the market is a great idea because finding a contractor during summer months is nearly impossible causing delays for closing. 

Here are the 21 sales that closed in December:


Mt. Hood Real Estate Sales for December 2015

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Real Estate Sales on Mt. Hood for March 2015 Summary

Sunday, April 19, 2015
by Liz Warren

Recent numbers came in from RMLS for March 2015 mountain area sales. 

Mt. Hood Real Estate Sales for March 2015

Area 153, as defined by RMLS, compromises the Mt. Hood market and is physically a smaller area than probably most as listed in RMLS stretching from Government Camp to the Cherryville Hill area between Brightwood and Sandy. This space stretches around 30 miles as the crow flies from one end of Highway 26 to the other. 

I'm bringing this up because despite what these numbers tell us, our market is hoping and it's not really reflected in the RMLS numbers. The thirteen closed sales is consistent with the numbers we've seen through 2014 for a very strong market.

March stats were a bit surprising considering the amount of activity our office has seen. Pending sales are down nearly 40% from last year from March 2014. Marketing time is improving as inventory that had been sitting for sale a long time is moving out. Nearly a third of the current inventory came to market in March with 26 new listings! Our amazing spring like weather has led sellers to getting started early in the marketing process. We predict a very busy spring of sales.

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Mt. Hood Real Estate Sales for February 2015

Sunday, March 15, 2015
by Liz Warren

Mt. Hood real estate sales for February 2015 show that pending sales were down nearly 36% from 2014. Although last year was really a break out year for real estate all over the country as the recovery of 2012 took up speed, all news on the real estate front point to 2015 as being even a bigger year than 2014. With three times the buyers out in force this winter to purchase this year compared to last, I would expect the pending sales to be up from 2014 than down in our area. Most of that buyer demand must be for urban areas though and the majority of our buyers tend to be second home owners. 

Mt. Hood Real Estate Sales for February 2015

The lack of inventory is showing that some of those homes that have been for sale FOREVER are finally getting sold. February sales had an average marketing time of 236 days! This could indicate that prices have risen a bit with less inventory and some homes on the market a long time are finally at an attractive price for buyers. 

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Happy New Year-November Real Estate Sales Stats for Mt. Hood

Saturday, December 27, 2014
by Liz Warren

Happy New Year!

November home sale numbers were up over October. The numbers continue to increase in total sales for the year. Here's a quick run down from RMLS on how the month of November stacked up plus year to date numbers. Sixteen sales for the month with a wide variety of home, condos and cabin sales. 

Mt. Hood real estate sales from multiple listing statistics for November 2014 including Government Camp, Welches, Rhododendron and Brightwood

Skiers came out to purchase five properties in November including three condos and two single family residential properties in Government Camp. 

Mt. Hood Real Estate sales for November 2014

Mt. Hood Real Estate Sales for November 2014

Mt. Hood Real estate sales for November 2014

The next newsletter will have the year end totals for 2014. 

 

 

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Displaying blog entries 11-20 of 67

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