Displaying blog entries 671-680 of 783
Eight total sales for the month of October. Here they are:
Three foreclosures this month and several second homes with price tags over the $300,000 mark. Finally, a sale in Government Camp!
Is this the perfect buying opportunitiy? Motivated sellers left and right and some of the best interest rates in 50 years? Sellers with their properties on the market right now going into winter are the most serious sellers of all!
Rates can't be beat! Here are the predictions from the National Association of Realtors and the Mortgage Broker's Assocation for the next year plus:
So, to keep your monthly payment low and manageable, now is the time to make that purchase because even if prices go down, your monthly payment will be fixed at a lower unbelievable rate.
U.S. Forest Service planners of the Mt. Hood/Government Camp land swap have just held a public meeting in Portland on Tuesday to present the exchange plan and to take comments by the public. This swap of 769 acres of land owned by Mt. Hood Meadows Oregon LLC and includes the Cooper Spur Ski area and lodge would be traded for around 120 acres of National Forest land on the South side of Mt. Hood.
Proponents of the swap include the Hood River Valley Residents Committee who want to protect the Crystal Springs watershed that services around 25% of the Hood River Valley drinking water. Details of the discussion can be found here
What is the real cost of foreclosures in a neighborhood? There are a few of them in the Mt. Hood area. Most are in Brightwood and Rhododendron but more are heading our way. This chart is taken from the web site Center for Responsible Lending and shows how much each Oregonian has lost due to foreclosures impacting the value of their homes. The average loss of value from homes that are near foreclosures is $8,442!
Many buyers and sellers are asking how are bare land sales on the mountain. Well if you take a look at Brightwood, Welches, Rhododendron and Government Camp you'll find sales are averaging about one a month this year. Not bad considering new home construction loans are difficult to find these days. Here are the ten sales since the beginning of the year.
Three sales were in subdivisions of Timberline Rim and Zig Zag Village. One Government Camp sale in Alpenglade, a couple of waterfront lots and a couple of acreage parcels. This has been a surprisingly good report for this year!
September saw an increase in the number of sales with nine closings for the month. A variety of properties sold including two foreclosures, one forest service cabin and one Government Camp single family residence. Interestingly, five of the nine sales were cash sales. Fortunately, for many sellers, the banks have been taken out of the equation since their standards are so restrictive. This could also be a move by investors to make their move into the market.
Here are the nine sales:
Recent sales for September 2010 in the Mt. Hood area from Welches, Rhododendron, Brightwood and Government Camp are in. Here's the info direct from multiple listing services:
What will help turn home buying around? Jobs. Here is how Oregon compares to the rest of the US in unemployment:
How does this recession compare to others the US has seen? Check out this chart:
The Concord Group, a real estate strategy firm predicts that recovery for the current real estate market will begin in the first quarter of 2012. Their prediction is based upon the current 18 months worth of inventory in the market.
Today's market in the Mt. Hood Area including Government Camp, Brightwood, Rhododendron and Welches has an 18.4 month of supply and 147 active listings including homes, condos and land.
Nationally, foreclosure buyers received a 26% discount when purchasing foreclosed properties if they purchased in the second quarter this year. Pre Foreclosure buyers received a 12.97% discount. REO or bank owned foreclosure buyers were able to receive a 34.54% discount for their purchase in the second quarter.
According to RealtyTrac, about 24% of sales in the U.S. were foreclosures! The hardest hit states were California, Nevada and Arizona averaging nearly 50% for all of them combined.
Oregon, in the second quarter had around 25% of sales as foreclosures. Of course these foreclosures impact pricing and are creeping into appraisal comparables if they are near a home that is selling. Bad news for sellers due to the impact they have on their values.
The good news is for buyers, there are many properties to choose from. Here is a list of the foreclosures currently for sale in the Mt. Hood area from Government Camp, Rhododendron, Welches, and Brightwood:
Displaying blog entries 671-680 of 783
