Displaying blog entries 661-670 of 852
Four closed sales for January 2013. This reminds me of the beginning of 2012! Two riverfront properties closed this past month. One small cabin like property and a very large home on over an acre of land.
I believe I had a little whiplash from the drop in number of sales in January 2013 compared to the run up in the last six months of 2012! January totals came in at four sales. After months of 10 to 14 sales per month it appears new tax policy or the fiscal cliff put a big brake on the run up towards the end of the year causing a little downturn.
This chart from RMLS compares numbers from the same month one year ago. Most experts are saying that 2013 will be a big year for sales as any buyer who wants to take advantage of good rates needs to act right now. By the end of 2013 we could see an increase in rates of nearly 1%! If you are looking to purchase your Mt. Hood getaway, now is the time to act!
Check out the last ten years of Mt. Hood Sales. 2012 was the highest number of sales since 2007!
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December finished with a bang for Mt. Hood real estate sales in 2012! We finished out the fourth quarter with an astonishing 45 sales! Fourteen were credited for the last month of the year. Despite appraisal challenges and buyer and home qualifying issues the numbers speak for themselves.
Here are the fourteen winners in December!
Four sales in Government Camp led the pack with three Condo units including a luxury Grand Lodges unit selling for $367,000 and the other two were Collins Lake condos.
Only two foreclosure sales to report . There’s only four bank owned properties currently for sale! REO’s or bank owned properties are being usurped by loan modifications and short sales.
Short sales may dominate 2013 over foreclosures with an extension of the Homeowner’s Forgiveness Act just passing this month! Short sales made up 5% of the 2012 sales market.
Mt. Hood area real estate statistics are in for the 2012 selling season. There are some” good news” numbers to report! The biggest is that the average sale price is up 4.4% as reported by multiple listing service. More good news: total number of sales are up 30% over 2011.
As the built up existing inventory gets sold we will eventually see more stabilization in the market and hopefully a rise in prices.
December saw a big decline of 50% pending sales compared to last year. No doubt this was because of the uncertainty of the fiscal cliff talk and the holiday shopping sprees that occupied each weekend.
Government Camp homes and condos finally broke out of its slow down for several years. Eleven condos in Government Camp closed and many single family homes went out the door with nine total.
foreclosures are slowing nationally down to 20% of sales. Government Camp, Rhododendron, Welches and Brightwood had 28 bank owned sales and seven short sales. We’re 6% higher than the national average in distressed sales!
Continued low interest rates and plenty of inventories to purchase will make 2013 another block buster year for sales. Although qualifying and appraisals make this market challenging we are optimistic that these obstacles will be met.
Let’s take a look at the whopping 18 closed sales for the month of November on Mt. Hood listed below. The leased land cabins in the Mt. Hood National Forest came on gang busters with seven closed cabins. This is definitely a record breaking month for cabins. Typically summer months bring buyers out in droves for cabins but this year the fall brought cabin buyers out of the woods. The other strong segment of sales were cabins that were on fee simple land, or in other words, on their own land. These ranged in the areas of $100,000 to $200,000 mostly.
Timberline Rim racked up two sales and Zig Zag Village totaled one sale. Both of these subdivisions offer amenities of swimming pools and tennis courts which many homeowners prefer especially with kids.
The good news is that the more inventories that get sold the closer the mountain is to price stabilization.
If this isn’t the best time in history to buy on the mountain, I don’t know what is! Record low interest rates and plenty of cabins and homes to choose from makes a mountain purchase on the TO DO list for 2013!
Check out these offerings for your preferred pricing point:
Mt. Hood Homes and Cabins under $200,000
Mt. Hood Homes and Cabins between $200,000 and $250,000
Mt. Hood Homes and Cabins between $250,000-$300,000
Mt. Hood Homes and Cabins between $300,000 and $400,000
Mt. Hood Homes and Cabins between $400,000 and $500,000
How are mountain properties shaping up in the distressed property department?
96 residential sales as of 10/30/2012
23 Bank Owned
6 Short Sales
30% are Distressed sales on the mountain
Here is an info chart for distressed sales in the Portland metro area.
This year has seen a huge increase in sales so far! The nine closed sales for September are listed below. The majority of these purchases were for second homes. Buyers are taking advantage of these lowest ever interest rates and getting their mountain getaway. Sales included two forest service cabins and two Government Camp rec homes!
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Here are the numbers straight from multiple listing service of sales for September 2012. Although slightly down with eleven closed sales, this had been a banner year for the highest "number of sales" in nearly 5 years! After sales increase in numbers we will eventually have some price stabilization.
It's still a buyer's market for the mountain with all residence, including condos and manufactured homes hitting a 13.4 months worth of inventory. It's the perfect time to get that second home in the Cascades!
Displaying blog entries 661-670 of 852
