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This spacious ski cabin located on Road 35 Lot 143 was just reduced by $10,000. Perfect for skiers to hit the slopes. Only about seven minutes to Ski Bowl. Tons of room for the family and friends! Two bathrooms, double loft plus private master bedroom. Just steps to the river! Reduced to $200,000!
Located in the Mt. Hood National Forest!
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Daylight is burning!!!!
Looking for that first home? Time is running out to take advantage of the $8,000 tax credit. Many sales are taking six to eight weeks to close. In order to get the credit by the dead line, you need your home to close by November 31, 2009!
Selection is great and you can't beat today's interest rates!
Here is more information on the first time buyer tax credit.
August Sales were WAY UP compared to any other month this year! A total of 14 sales for the month, seems like the number is almost normal for a typcial August on the mountain. Mt Hood National Forest cabins saw the largest segment of sales with five for the month! Four properties were under $100,000 in price. A couple were taking advantage of the first time home buyer plan with the $8,000 credit. September numbers look pretty good too with seventeen properties pending from Government Camp, Rhododendron, Welches and Brightwood.
The numbers are in for the mountain area from Government Camp, Rhododendron, Welches and Brightwood. The multiple listing service just released the numbers today. The chart below shows active, pendings, and solds for the month of August 2009. This is also compared to last year and year to date numbers.
SALES ARE WAY UP! Fourteen total for the months of August. The stimulus package is working and many of these were first time home buyers exersising the $8,000 tax cedit!
Here are the sales:
July Mt. Hood property sales followed the trend of the past six months with five sales closing in July. These sales were in Brightwood, Rhododendron, Government Camp and Welches.
Here are the numbers straight out of the Market Update distributed by the Portland multiple listing service.
Although there were only five sales closing in July, there was a definitive market change with buyers as we saw the middle of July and into the beginning of August. You can see this reflected in the pending sales, listed at 20. August closed sales should see the greatest number of the year. There has also been a boost in the inventory with 30 new properties to hit the market in July.
Below are the five sales in July. These are somewhat all over the place with one Condo, a manufactured home, two vacation properties and one foreclosure on the Sandy River. Two years ago that forecloser had sold for $300,000 plus but as a foreclosure it is sellilng at $180,000. There were multiple offers on this property.
Numbers for August sales should skyrocket with the number of pendings. Continued low interest rates and a huge inventory of homes make this a premium time to get that Mt. Hood property.
Numbers are in for the month of June from our Market Action compliled by the multiple listing service for Government Camp, Rhododendron, Welches and Brightwood. The mountain scored six sales for the month. Most notable is that marketing days are getting longer showing 210 days of average marketing time. Pending sales are down nearly 42% from last year. Now that half the year is over we have seen around 34 closed sales. There is no doubt that this is an extemely competitive market if you are a seller!
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!
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.
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:
The recent market action from multiple listing service is out and here are the numbers:
Displaying blog entries 321-330 of 359
