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Short Sales Foreclosures on Mt. Hood

Saturday, July 18, 2009
by Liz Warren

Short sales and foreclosures make up around 50% of sales in most of the country, sometimes more in certain areas. Take a look at the six sales on the mountain for June. The first and second sales are foreclosures and the last on the list a short sale.

It's a real eye opener for the second home on the list. This sold after 305 days on the market with the bank first offering the property at $328,000. It's final sales price at $175,000 was a long road down in price. Naturally, the more foreclosures and short sales we have in our Mt. Hood area, the more prices get hurt because these are the comparables buyers and banks use to justify their offers and prices!

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What about Sandy Oregon Sales?

Saturday, June 13, 2009
by Liz Warren

Nationally 50% of home buyers in the first quarter of 2009 were first time home buyers and nearly half of sales were foreclosures and short sales. Take a look at Sandy Oregon's sales for the past six months. You'll find of the 103 total sales for residential properties 83 were under $250,000. If this isn't affordability, I am not sure what is! The $8,000 tax credit is helping a lot of buyers get into their homes.

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What sold on Mt. Hood in May 2009

Saturday, June 13, 2009
by Liz Warren

Cash is king. Of the seven sales in May, four were cash transactions, two were seller held contracts and one was a conventional loan. The banks are a necessary evil in completing most primary home transactions but when it comes to second homes, which the majority of our transactions have been in May, cash is king.

Three Mt Hood National Forest cabins changed hands. Two of those sales were owner contracts since conventional financing is not possible on leased land. I expect we will see more seller held contracts for forest cabins in the future.

One Collins Lake Condo changed hands, which is amazing since the entire project is shut down for major reconstruction after the law suit was settled!

Here are the details:

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Mt. Hood 2009 May Sales Numbers

Saturday, June 13, 2009
by Liz Warren

The recent market action from multiple listing service is out and here are the numbers:

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When to Buy a Home on Mt. Hood

Wednesday, May 27, 2009
by Liz Warren

When is the perfect time to purchase on Mt. Hood? Well opportunity is knocking on your door RIGHT NOW! Check out today's market cycle. Many people purchased in 2005 and 2006 at the top of the cycle but now we are in the low risk segment. We have plenty of properties to choose from, interest rates that are the lowest in decades, and anxious sellers. The combinations couldn't be better to make that investment now!

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Mt. Hood Real Estate Sales in March

Wednesday, April 15, 2009
by Liz Warren

The numbers were just released today in the multiple listing market stats for the month of March. There were a total of four closed sales for March. Heres how the numbers in the report look:

Days on market are hitting an average of 138 days but more importantly, pending sales, year to date, are down around 55%. As inventory increases with more motivated sellers who need to sell we may see even more prices softening than we've seen.

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States Where Prices Are Up Nationally

Saturday, March 28, 2009
by Liz Warren

There are a handful of states where prices are up from 2007 to 2008 according to First American Corelogic, a mortgage data company: 

These states are:

West Virginia-4.2%

Texas - 3.6 %

 

South Dakota – 3.6 %

 

Montana – 2.6 %

 

Mississippi – 1.7 %

 

Utah - 1.5 %

 

New Mexico - 1.3 %

Home prices during the same time frame dropped in 70% of states.

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New and Existing Home Sale Numbers

Tuesday, March 24, 2009
by Liz Warren

Take a look at this information to see NAR, the National Association of Realtors, info based upon the Bureau of Census, and their predictions for home sales through the end of the year and into 2010

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Mt. Hood Sales for February 2009

Saturday, March 14, 2009
by Liz Warren

The Portland RMLS recently released sales information for February 2009. Here are the numbers:

Increasing inventory with 56 new listings on the market since January and 22 new on market in February alone. Closed sales at six shows an increasingly competitive market with not as many buyers active. Pending sales are down 61.5% comparing this same time from last year.

There's no doubt that increased unemployment, increased savings and the virtual disappearance of around 45-50% of individuals savings and wealth are having an impact on real estate.

There have been no sales of land, mutilfamily, or commercial properties since January.

Some sellers are making the price adjustments needed to compete and get their properties sold. It is shocking for many sellers to see what comparable properties are selling for as home equities rapidly shrink to adjust to this current economy.

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January Sales Figures Are In!

Monday, February 16, 2009
by Liz Warren

The market action statistics for the Mt. Hood area in multiple listing service just came out for the month of January 2009. Take a look at the numbers:

There were a total of six sales in the month of January. Pending sales are at five currently. Four of these are homes and one is land. There were no land sales or commercial sales in January.

Here are the six sales in January:

These sales included one forest service cabin in the Mt. Hood National Forest and one Government Camp Condo at Eidelweiss. The balance were scattered throughout the lower cascade area, mostly in Rhododendron.

Currently pending sales show five in the bucket. Lets hope the stimulus plan with the up to $8,000 tax credit with "no payback" will spur this market into orbit with these incredible interest rates!

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Displaying blog entries 321-330 of 353

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