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Help Prevent More Real Estate Taxes!

Thursday, May 20, 2010
by Liz Warren

Congress is at it again. They are working towards changing the tax code to have negative impacts on owning real estate. If you have a rental you may want to pay attention to this:

1)     Congress is proposing that all owners of rental properties be required to file IRS 1099 forms on service providers such as electricians, plumbers, and landscapers. This arduous provision would apply to even the smallest landlord, as anyone who receives rental income will be required to comply with the new tax provisions if they pay any contractor $600 or more in any given year.

 2)     Congress is considering taxing “carried interest” at ordinary income rates instead of capital gains. Carried interest rules govern how general partners in real estate investments pay taxes when an investment is sold. By increasing the tax burden on these real estate partnerships, the proposal would make real estate a less attractive investment. For the first time, this proposal would prevent a particular type of real estate investment gain from qualifying for capital gains.

You should contact Ron Wyden, Jeff Merkley and Earl Blumenauer and let your opinion get voiced today!

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Mt. Hood Closed Sales for April 2010

Sunday, May 16, 2010
by Liz Warren

What market segments closed in April 2010? Sales for the Mt. Hood area were up in numbers-that's the good news. The negative news is that five of the ten sales were foreclosures. On the other hand, that is good news in that the inventory is getting reduced. Take a look at the ten sales below. The two higher end sales-over $300,000 were foreclosures. There are currently twelve foreclosures on the market in the Mt. Hood area.

Mt. Hood Home Sales for April 2010

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Mt. Hood Area Real Estate Sales

Sunday, May 16, 2010
by Liz Warren

The numbers for April 2010 have just been released from the multiple listing service. The number of sales is way up from April of 2009 when the stock market crash and losses were still fresh in everyone's mind. A whopping ten sales happened last month.

Mt. Hood Real Estate Sales for April 2010

The numbers tell us pending sales are up compared to last April by 114% and pending sales year to date up 72%. This is good news because it shows action in the market! The average sale price is declining with foreclosures clouding the inventory.

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Mt. Hood Inventory Increases

Thursday, May 13, 2010
by Liz Warren

The local inventory for Welches, Government Camp, Brightwood and Rhododendron has shot up in the last month for single detached properties. There's been an addition of 29 properties to hit the market which makes up approximately 25% of the entire single detached home inventory! There are some great choices for buyers out there who wish to take advantage of once in a lifetime interest rates and a diverse inventory of homes!

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Mt. Hood and Oregon State Numbers of Foreclosures

Saturday, May 1, 2010
by Liz Warren

Have you ever heard of www.responsiblelending.org? This group tracks delinquencies and foreclosures and how the mortgage crisis has impacted Oregonians. Here are their numbers. 

Oregon Delinquencies and Foreclosures

The average loss per home in the state of Oregon is $8,442 in equity. You can check other state losses at the web site. The average loss in New York is around $37,000! In Florida it is $81,000. In California it is $51,000. So at this point, Oregon has faired decently compared to many other states. That number could increase as we see the foreclosures hit the market for 2010.

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Mt Hood Number of Sales Increase in April!

Saturday, May 1, 2010
by Liz Warren

The number of real estate sales in April has increased drastically over last year at this time. Of course, last year everyone was reeling over the stock market crash and trying to hang on by their fingernails.

Ten sales were racked up for the month of April! Half of those sales were foreclosures. Most of the others were second homes.

Here is the story of a seller who chased the market down, went to foreclosure and the buyer got one hec of a deal in this market. The seller first listed at $567,500 in 8/08. At the time the seller went into foreclosure the price was $474,900. The bank listed the house at $459,500 on 11/2009. The house closed in April 2010, while listed at $435,000 for $350,000! That is nearly 40% of the original list price!

Relton Lane Waterfront Home Brightwood, Oregon

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Time Closing in on Tax Credit

Monday, April 26, 2010
by Liz Warren

Time is ticking away if you're a first time home buyer and want to use the tax credit. The dead line to have your tranaction in place is April 30th so don't delay in getting that property now.

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Case Shiller Pricing Index

Monday, April 26, 2010
by Liz Warren

Is this a great time to purchase a home or what? According to the S & P Case Shiller Pricing Index home values have adjusted to August 2003 levels. You may be paying 2033 prices but you are actually getting a greater value! Why, because interest rates are 1% less than they were in 2003! On a loan balance of $200,000 that would save you $145.00 per month.

Take advantage of today's great buying opportunities!

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Mt. Hood Sales in March

Sunday, April 18, 2010
by Liz Warren

Here is a list of the sold properties for March 2010 taken from Multiple Listing service. Four of these properties were foreclosures and five of the eight were sold for less than $100,000.

April sales are shaping up in a similar fashion. In a similar fashion I mean the foreclosures and distressed properties are selling. Of the four sales listed for April up to this point, three are foreclosures and one was a distressed sale heading into foreclosure. 

Sadly, even more foreclosures are coming on the market. According to RealtyTrac there were more foreclosures in the first quarter of 2010 than there have since they have been tracking-since 2005. Leader states in foreclosures are California, Florida, Arizona and Nevada for the first quarter. Why so many now? The banks are finally getting through the glut of processing. RealtyTrac reports that there will be approximately one million foreclosures in 2010 and around four million fillings for foreclosures this year.

Two reasons for increased foreclosures: high unemployment and declining values making owners "underwater" owing more than their home's market value. This is really causing a domino effect as the foreclosures drag down market values more people will become "underwater".

Once this excess foreclosure inventory is gone, the real estate markets will stabilize.

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Mt. Hood Sales Prices Decline

Saturday, April 17, 2010
by Liz Warren

The Portland metro price decline from last March to this March is 10,9%.

Mt. Hood statistics for March 2010 show a 6.7% decline. Based upon the numbers from March 2009 with minimal sales and March 2010 sales I don't see the 6.7% figure as a realistic gage. From what we are seeing in today's market in pricing the minimum gage we should use for Mt. Hood properties would be the 10.9% number.

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Displaying blog entries 701-710 of 783

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