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Mt Hood Number of Sales Increase in April!

Saturday, May 1, 2010
by Liz Warren

The number of real estate sales in April has increased drastically over last year at this time. Of course, last year everyone was reeling over the stock market crash and trying to hang on by their fingernails.

Ten sales were racked up for the month of April! Half of those sales were foreclosures. Most of the others were second homes.

Here is the story of a seller who chased the market down, went to foreclosure and the buyer got one hec of a deal in this market. The seller first listed at $567,500 in 8/08. At the time the seller went into foreclosure the price was $474,900. The bank listed the house at $459,500 on 11/2009. The house closed in April 2010, while listed at $435,000 for $350,000! That is nearly 40% of the original list price!

Relton Lane Waterfront Home Brightwood, Oregon

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Mt. Hood Sales in March

Sunday, April 18, 2010
by Liz Warren

Here is a list of the sold properties for March 2010 taken from Multiple Listing service. Four of these properties were foreclosures and five of the eight were sold for less than $100,000.

April sales are shaping up in a similar fashion. In a similar fashion I mean the foreclosures and distressed properties are selling. Of the four sales listed for April up to this point, three are foreclosures and one was a distressed sale heading into foreclosure. 

Sadly, even more foreclosures are coming on the market. According to RealtyTrac there were more foreclosures in the first quarter of 2010 than there have since they have been tracking-since 2005. Leader states in foreclosures are California, Florida, Arizona and Nevada for the first quarter. Why so many now? The banks are finally getting through the glut of processing. RealtyTrac reports that there will be approximately one million foreclosures in 2010 and around four million fillings for foreclosures this year.

Two reasons for increased foreclosures: high unemployment and declining values making owners "underwater" owing more than their home's market value. This is really causing a domino effect as the foreclosures drag down market values more people will become "underwater".

Once this excess foreclosure inventory is gone, the real estate markets will stabilize.

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Mt. Hood Foreclosures

Thursday, March 25, 2010
by Liz Warren

Listed below are the latest Foreclosed Properties on the mountain from Government Camp, Brightwood, Welches and Rhododendron.

There are bargains to be had in this group!

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Mt. Hood Real Estate Sales

Monday, March 22, 2010
by Liz Warren

 

February sales in the Mt. Hood area brought three waterfront properties, one Government Camp sale, one leased land sale, three subdivision sales (two Timberline Rim homes and one Zig Zag Village) and one foreclosure. Reviewing county records, there are more foreclosures on the way.

Second home sales are dominating this month with the highest sale amount hitting $335,000. Activity for waterfront homes and cabins seem to dominate current showing activity for Rhododendron, Brightwood and Welches.

March sales to date are currently hittinga total of five but four out of the five closed sales are under $100,000.

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Mt. Hood February Sales 2010

Thursday, March 18, 2010
by Liz Warren

Multiple Listing has just released the February sales numbers for the Mt. Hood area from Government Camp, Brightwood, Rhododendron, and Welches. Number of sales are up and prices are down.

 

Our area saw eight closed sales. Pending sales are up 20% from the same momth in 2009 and 30% up year to date. This is good news. Compared to last year at this time the "number of sales" is a good indicator that 2010 should be a much better year than 2009 when we were still realing from the stock market plunge and credit tightening. Listing numbers are starting to increase. If interest rates stay near their present numbers this bodes well for a better market.

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Portland Metro and Surrounding Area Five Year Trend

Thursday, February 25, 2010
by Liz Warren

Zillow has just come out with the five year trend for sales data as of February 2010 for the Portland Metro and some surrounding cities which are charted below.  Although it does not have our Mt. Hood Area communities in the data, it gives us a fairly good idea of what has happened in the market and gets reflected in our market too.

 

Zillow Home Value Index
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Mt. Hood January Sales for 2010

Saturday, February 20, 2010
by Liz Warren

Curious what sold in January 2010? Here are the winners:

We've got the highs to the lows in this bunch. One beautiful custom built home in Windtree, one of the mountain subdivisions, was purchased. The higher end market, which in checking numbers from Gresham to Government Camp over $700,000, typically sell 15% to 20% below asking price.

Two of the properties were foreclosures. The home selling at $244,250 was a foreclosure at the Resort at the Mountain. It had originally been priced above $300,000 but had some dry rot issues to repair.

Pricing homes in this market is difficult and if an owner was for sale prior to the market crash, their properties took a substantial amount of readjustment to get sold.

Current pending sales for February show several foreclosures but most on the lower end of the pricing scale.

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Mt. Hood Sales Volume

Saturday, February 20, 2010
by Liz Warren

What was the volume of sales on Mt. Hood including Government Camp, Welches, Brightwood, and Rhododendron at the height of the real estate boom? According to the RMLS multiple listing service our area had $76,354,000 worth of sales in 2005. That number produced 330 sales in the area. In contract, the 2009 sales volume hit $26,705,000 with 105 sales.

 

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Mt. Hood January 2010 Real Estate Sales

Saturday, February 20, 2010
by Liz Warren

Mt. Hood area sales saw some good numbers for the forth quarter of 2009. January squeaked by with a total of six sales. Here is how we are stacking up from the regional multiple listing service:

 

Listing inventory is increasing. Pending sales are up compared to Jan 2009 when buyers were reeling from the stock market plunge and shock. Market time, for the six sales that happened in January totalled 222 days. To sell in today's market, with the increase in number of foreclosures to choose from, takes aggressive pricing. Oregon is currently ninth in the nation in foreclosures according to RealtyTrac.

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Timberline Rim Foreclosures

Saturday, February 6, 2010
by Liz Warren

Timberline Rim is a subdivision in our Mt. Hood area that wraps around the Sandy River. It was originally platted in the 1960's and is nearly fully developed except for a few scattered lots that are still vacant. Parts of the subdivision are in Brightwood and others in Rhododendron. The entire area is on sewer and water and the homeowners enjoy a lodge, swimming pool in the summer, tennis courts, basketball hoops, party room in the lodge and other rec facilities, walking paths to the Sandy River and other amenities. It's location is only 45 minutes to an hour from Portland.

Most of the homes are occupied with full time residents and some second home owners scattered throughout the subdivision.

Naturally, some of the benefits of living in this area are its close proximity to the Mt. Hood National Forest with zillions of miles of hiking trails, 15 minutes to ski areas, cross country skiing, snowshoeing, golf, and a multitude of waterways to enjoy from the Sandy River to Salmon and Zig Zag Rivers threaded throughout our area.

Some of the best buys available in Timberline Rim are the foreclosures currently on the market. Today there are three available and here are the details:

 

It's a great time to buy and take advantage of today's incredible interest rates before they go up!

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Displaying blog entries 291-300 of 353

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