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Friday, October 8, 2021
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What's Causing Today's Competitive Real Estate Market on Mt. Hood
Friday, October 8, 2021
What’s Causing Today’s Competitive Real Estate Market On Mt. Hood?
![What’s Causing Today’s Competitive Real Estate Market? [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/10/07124832/20211008-MEM-1046x2072.png)
Some Highlights
- Today’s strong sellers’ market is the direct result of high demand and low supply.
- Low mortgage rates and generational trends have created an increased demand for homes. Meanwhile, the slower pace of new home construction and homeowners staying in their homes longer have both led to today’s low supply.
- If you’re thinking of selling, let’s connect to talk about our local area and how you can take advantage of today’s housing market.
It's Still a Sellers' Market on Mt. Hood
Tuesday, September 28, 2021
It’s Still a Sellers’ Market On Mt. Hood
![It’s Still a Sellers’ Market [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/09/22165444/20210924-MEM-1046x2173.png)
Some Highlights
- Due to low supply and high demand, today is one of the strongest sellers’ markets we’ve seen.
- Sellers can benefit from more offers to pick from, higher home values, and a faster sales process. That might be why 73% of people believe it’s a good time to sell.
- Sellers, don’t miss out on this unique opportunity. Let’s connect so you can take advantage of this hot sellers’ market.
Shadow Hawk Condo on Mt. Hood
Sunday, September 26, 2021
Looking for a fantastic getaway on the mountain? Check out this Shadow Hawk Condo with views of the Salmon River. Upper level one bedroom unit comes mostly furnished. Plenty of storage for your Mt. Hood toys. Full time manager onsite. Pool for summer time and sauna in clubhouse. HOA is $425 per month. Twenty seven hole golf course across the street at the Mt. Hood Oregon Resort. $269500.
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Time to Move to Mt. Hood?
Monday, September 20, 2021
Is It Time To Move on to a New Home On Mt. Hood?
If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical averages (see graph below):
As the graph shows, before 2008, homeowners sold their houses after an average of just five years. Today, that number has more than doubled to over 10 years. The housing industry refers to this as your tenure.
To really explore tenure, it’s important to understand what drives people to make a move. An article from The Balance explores some of the primary reasons individuals choose to sell their houses. It says:
“People who move for home-related reasons might need a larger home or a house that better fits their needs, . . . Financial reasons for moving include wanting a nicer home, moving to a newer home to avoid making repairs on the old one, or cashing in on existing equity.”
If you’ve been in your home for longer than the norm, chances are you’re putting off addressing one, if not several, of the reasons other individuals choose to move. If this sounds like you, here are a few things to consider:
If your needs have changed, it may be time to re-evaluate your home.
As the past year has shown, our needs can change rapidly. That means the longer you’ve been in your home, the more likely it is your needs have evolved. The Balance notes several personal factors that could lead to your home no longer meeting your needs, including relationship and job changes.
For example, many workers recently found out they’ll be working remotely indefinitely. If that’s the case for you, you may need more space for a dedicated home office. Other homeowners choose to sell because the number of people living under their roof changes. Now more than ever, we’re spending more and more time at home. As you do, consider if your home really delivers on what you need moving forward.
It’s often financially beneficial to sell your house and move.
One of the biggest benefits of homeownership is the equity your home builds over time. If you’ve been in your house for several years, you may not realize how much equity you have. According to the latest Homeowner Equity Report from CoreLogic, homeowners gained an average of $33,400 in equity over the past year.
That equity, plus today’s low mortgage rates, can fuel a major upgrade when you sell your home and purchase a new one. Or, if you’re looking to downsize, your equity can help provide a larger down payment and lower your monthly payments over the life of your next loan. No matter what, there are significant financial benefits to selling in today’s market.
Bottom Line
If you’ve been in your home for 5-10 years or more, now might be the time to explore your options. Today’s low rates and your built-up equity could provide you with the opportunity to address your evolving needs. If you feel it’s time to sell, let’s connect.
Have You Ever Seen a Housing Market Like This?
Friday, September 17, 2021
Have You Ever Seen a Housing Market Like This?
![Have You Ever Seen a Housing Market Like This? [INFOGRAPHIC] | MyKCM](https://files.mykcm.com/2021/09/16133349/20210917-MEM-1046x2047.png)
Some Highlights
- Whether you’re buying or selling – today’s housing market has plenty of good news to go around.
- Buyers can take advantage of today's mortgage rates to escape rising rents and keep monthly payments affordable. Sellers can reap the benefits of multiple offers and a fast sale.
- If this sounds like good news to you, let’s connect today so you can capitalize on the unique opportunity you have in today’s market.
Is Inventory Increasing on Mt. Hood?
Thursday, September 16, 2021
Is the Number of Homes for Sale Finally Growing?
An important metric in today’s residential real estate market is the number of homes available for sale. The shortage of available housing inventory is the major reason for the double-digit price appreciation we’ve seen in each of the last two years. It’s the reason many would-be purchasers are frustrated with the bidding wars over the homes that are available. However, signs of relief are finally appearing.
According to data from realtor.com, active listings have increased over the last four months. They define active listings as:
“The active listing count tracks the number of for sale properties on the market, excluding pending listings where a pending status is available. This is a snapshot measure of how many active listings can be expected on any given day of the specified month.”
What normally happens throughout the year?
Historically, housing inventory increases throughout the summer months, starts to tail off in the fall, and then drops significantly over the winter. The graph below shows this trend along with the month active listings peaked in 2017, 2018, and 2019.
What happened last year?
Last year, the trend was different. Historical seasonality wasn’t repeated in 2020 since many homeowners held off on putting their houses up for sale because of the pandemic (see graph below). In 2020, active listings peaked in April, and then fell off dramatically for the remainder of the year.
What’s happening this year?
Due to the decline of active listings in 2020, 2021 began with record-low housing inventory counts. However, we’ve been building inventory over the last several months as more listings come to the market (see graph below):
There are three main reasons we may see listings continue to increase throughout this fall and into the winter.
- Pent-up selling demand – Homeowners may be more comfortable putting their homes on the market as more and more Americans get vaccinated.
- New construction is starting to take off – Though new construction is not included in the realtor.com numbers, as more new homes are built, there will be more options for current homeowners to consider when they sell. The lack of options has slowed many potential sellers in the past.
- The end of forbearance will create some new listings – Most experts believe the end of the forbearance program will not lead to a wave of foreclosures for several reasons. The main reason is the level of equity homeowners currently have in their homes. Many homeowners will be able to sell their homes instead of going to foreclosure, which will lead to some additional listings on the market.
The Mt. Hood real estate market is seeing a small increase in inventory. We are currently up to 15 units on the market. Only six of those properties are under $400,000. Affordability is an issue with demand staying high.
Bottom Line
If you’re in the market to buy a home, stick with it. There are new listings becoming available every day. If you’re thinking of selling your house, you may want to list your home before this additional competition comes to market.
Still Creek Cabin on Mt. Hood
Monday, September 13, 2021
Looking for a great getaway? This is it. This is a well maintained charmer with two bedrooms upstairs. A wonderful open floor plan features living room, kitchen and dining are all open to each other including windows galore letting in natural light. Wood stove will warm your toes after a day on the slopes. Large deck off of the dining room area for summer barbeques. Just steps to Still Creek which is one of the most popular creeks on the mountain. Dog and kid friendly Still Creek is great for summer wading and swimming. The cabin is located in the Mt. Hood National Forest. $350,000
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Mt. Hood 1935 Cozy Cabin in Rhododendron Oregon
Sunday, August 29, 2021
Enjoy your 1935 mountain getaway near all Mt. Hood activities. One bedroom and mini sleeping loft. Everything you need with wood walls, lots of ambiance, vaulted ceilings, paned windows, decks and a fenced yard! Cozy wood stove to warm up your toes, two covered porches, outbuilding and wood shed. There's even a utility room for washer and dryer. Jetted tub in the bathroom. Only one hour to Portland! Mt. Hood National Forest just down the street and about 20 minutes to the slopes. $295,000
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