Mt. Hood Real Estate Sales Up 30% in 2012!
Friday, January 25, 2013
Check out the last ten years of Mt. Hood Sales. 2012 was the highest number of sales since 2007!
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Record Setting December for Mt. Hood Real Estate Sales!
Monday, January 14, 2013
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 Sales Numbers for 2012 With 4.4% Increase in Pricing!
Sunday, January 13, 2013
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.
Mt. Hood Sales Surge this Fall 2012!
Monday, December 17, 2012
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
Mt. Hood Area Distressed Sales
Tuesday, October 30, 2012
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.
September Mt. Hood Sales Slightly Down
Tuesday, October 16, 2012
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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September Mountain Sales Were Slightly Down
Monday, October 15, 2012
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!
Villages of Mt. Hood Town Hall Meeting
Wednesday, September 19, 2012
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.
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