Displaying blog entries 641-650 of 783
Total sales for April 2011 in the mountain market frorm Government Camp, Rhododendron, Welches, and Brightwood totalled five this past month. These April sales included two foreclosures, two waterfront properties and one Timberline Rim home.
Tracking distressed sales on the mountain in the area from Government Camp to Brightwood shows that short sales and foreclosures make up 40-50% of our area sales over the past several months on average. Nationally, these numbers match. Here is a chart showing the short sales and foreclosure movement.
Here is the latest chart from Case Shiller showing the 20 city composite comparative over time just released in March 2011. These numbers indicate we are almost on the edge of a double dip. Surprisingly, pirces are off 58% from the peak in Las Vegas and only 6.8% in Dallas. Portland is down 26.4% from the peak of pricing.
March fell short of the prior two months in total sales on the mountain. Five sales were closed this past month and all were distressed. Two of the sales were FHA financed, two cash and one conventional mortgage.
The RMLS has just released the "market action" for our mountain area for Government Camp, Welches, Brightwood and Rhododendron listings and sales. This chart compares sales, listings and compares last year from this year at the same benchmark time.
Two numbers jump out at me in the stats. One is the increased marketing time for a sale and secondly the pending sale numbers down nearly 50%. We have historically low interest rates, excellent affordability levels yet buyers are not coming in to swoop up the deals. Some of the biggest names in real estate are saying this is the best time to buy property that we will see in our lifetimes. I'm speaking of Donald Trump, Barbara Corcoran, and John Paulson (who predicted the housing bubble).
Buyers should be jumping in and taking advantage of this time before interest rates creap up. Predictions are that they will hit 5.4-5.7% by the fourth quarter!
Weekend shoppers will love today's foreclosures in the Mt. Hood area located in Government Camp, Welches, Brightwood, Rhododendron!
Take advantage of 25 to 40% discounts by purchasing a foreclosure!
Do you want to pay more taxes? The mortgage interest deduction is under attack in a big way. The NAR, National Association of Realtors, is asking for you to help send a message to your congressmen that you don't want this mortgage deduction to go away.
Here is a link to a quick message expaining what you can do just by sending an email.
It's tax time and not as many folks are out buying homes right now. Here is a laundry list of current pending sales in Government Camp, Welches, Rhododendron and Brightwood. Of the eleven pending sales there are five foreclosures. As we move into better weather and spring I expect activity to pick up.
Here are all the recent sales for Februrary 2011. Half of these sales are foreclosures and the other half, arms length transactions. General activity seems a bit slower this month so March numbers will be interesting to see. This is a premium time to purchase with rates still low. The Fed is talking about raising rates which will impact buyer purchasing power. Take advantage of these incredible rates now!
Numbers are in from the multiple listing service for Februrary sales 2011 for Government Camp, Rhododendron, Welches and Brightwood.
Sales are down compared to this time last year. Nationally, sales are also down. Marketing times are longer with an average between the eight sales at 205 days.
Displaying blog entries 641-650 of 783
