Villages of Mt. Hood Town Hall Meeting
Wednesday, September 19, 2012
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Tight Lending Requirements and Credit Scores
Tuesday, September 18, 2012
Now that housing is starting to stand on its wobbly legs after years of uncertainty, Lawrence Yun, chief economist of NAR, the National Association of Realtors, is asking for some loosing up on lending standards to keep this housing recovery on its way. Here is an except from an article from NAR on credit scores and lending practices. You can see that most recent loans only go to buyers with the most stellar credit. In 2011, around 75% of loans purchased by Fannie Mae and Freddie Mac, had credit scores of 740 or above!
Mt. Hood Area Sales in August 2012 top 11
Monday, September 17, 2012
Good news for mountain real estate. August numbers are consistent with most of the year monthly numbers with eleven sales for the month. From Government Camp to Brightwood, the numbers are good. Here's what sold for the month of August. Three forest service cabins closed this month, a record number for the year.
Resort at the Mountain Inventory Grows
Wednesday, September 5, 2012
Looking for a great full time or recreational second home on Mt. Hood? The current inventory around the Resort at the Mountain is exceptional in choices. Some sit off the golf course and some have fairway views. A twenty seven hole golf course gives many opportunities for ownership. Amenities include park areas, Salmon River access, swimming pool and tennis courts. All properties are on sewer and water. Here are todays current choices:
Housing Update from the Oregon Office of Economic Analysis
Monday, September 3, 2012
Portland Metro Price Trends from NAR Impact Mt. Hood Second Home Market
Monday, August 27, 2012
The Portland metro price trends impact the majority of our second home market for many reasons. Primary home equities are a main source of down payments for second homes in our area. As this chart shows, the metro area has lost a lot of that buying power and this has caused pricing pressures on the mountain inventory.
Mt. Hood's May Market Action Numbers for Sales
Sunday, June 24, 2012
The market action provided by RMLS brings May active, pending and sold statistics for the Mt. Hood area. The past month brought a huge number of properties to the market, nearly 25% of inventory came on this month and June will likely tell a similar story. Many sellers waiting for the market to improve have come to the dance floor. Ten closed sales for the month shows a continuing trend for sales numbers to beat out 2011 but prices have still not gone up due to the amount of inventory currently for sale. Number of days on market is up to 261.
Mt. Hood Area Real Estate Sales for May 2012
Sunday, June 17, 2012
May real estate sales on the mountain are consistent with the past several months. Ten sales of properties have now given a total of 46 sales since the first of the year. Numbers of sales each month have been fairly consistent giving an average of nine sales each month! Plenty of inventory to choose from and with unbelievable 3.75% interest, this is the Primo time to buy in history!
Lets take a look at May's sales. Four of the ten were either bank owner or short sales. Good news in that two sales were over $300,000. There's been more interest in the higher price ranges. Since we are quickly approaching our premium selling summer season I expect the next several months to produce even higher numbers of sales baring any negative economic news.
Mt. Hood Area Inventory Levels
Monday, May 21, 2012
The Portland Metro area inventory is at a five year low according to the multiple listing service. Month supply of home for April was 4.7 months. This is the buzz about "listing inventory" shortage in Portland. Take a look at Grant and Wallowa County though with over three years of inventory to sell. Yikes!
Mt. Hood Area inventory of residential homes are at a 13 month level. Lots of inventory to choose from and to take advantage of these historically low interest rates!
Mt. Hood Shadow Inventory
Thursday, May 3, 2012
Every wonder about how much "shadow inventory" is on our mountain? Realty Trac, who tracts foreclosures nationally, says Oregon has 19 months of bank owned inventory that has not hit the market. Nationally the number is closer to 16 months. A recent article on Oregon Live, the Oregonian paper on line, presents an interactive map of the greater Portland area by zip code with numbers of foreclosures.
Interactive map of foreclosures by zip code. Check out 97049, 97028 and 97067.
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