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Market Stats for Mt. Hood March 2010

by Liz Warren

The multiple listing service for the Portland metro area has just come out with the numbers for March 2010 Mt. Hood sales. Here are the numbers:

A huge number of new listings came on the market- this could be the "shadow inventory" or people waiting for the market to improve that have been holding on till economic news has improved. There's another wave of foreclosures coming on to the market so if this is "shadow inventory" the timing may be off. Forty three new properties to come on the market in one month is 25% of the entire market of listings for sale!

Real estate is local. No matter what the national media is saying it doesn't pan out in our local market. Oregon has always been a year behind most "national" real estate trends. We were late in the decline and we will be late for the "recovery".

Trends that are showing up:

1. much longer marketing times

2. serious impact of foreclosure sales on pricing

3. declining average sales price

4. increased pending sales numbers

Although this month's percent of sales price change shows 6.7% from last year, I find our data base is so small it does not give a true picture of what is really happening. Portland metro homes declined in price by 10.9% as an average so I suspect our number is greater than that.

 

Mt. Hood Foreclosures

by Liz Warren

Listed below are the latest Foreclosed Properties on the mountain from Government Camp, Brightwood, Welches and Rhododendron.

There are bargains to be had in this group!

Mt. Hood Real Estate Sales

by Liz Warren

 

February sales in the Mt. Hood area brought three waterfront properties, one Government Camp sale, one leased land sale, three subdivision sales (two Timberline Rim homes and one Zig Zag Village) and one foreclosure. Reviewing county records, there are more foreclosures on the way.

Second home sales are dominating this month with the highest sale amount hitting $335,000. Activity for waterfront homes and cabins seem to dominate current showing activity for Rhododendron, Brightwood and Welches.

March sales to date are currently hittinga total of five but four out of the five closed sales are under $100,000.

Mt. Hood Economic Conditions

by Liz Warren

 

The National Association of Realtors provided this information comparing the Portland Metro area economic conditions with the rest of the US. These numbers were produced from the 4th quarter of 2009. Once we regain jobs our housing market will recover.

Mt. Hood February Sales 2010

by Liz Warren

Multiple Listing has just released the February sales numbers for the Mt. Hood area from Government Camp, Brightwood, Rhododendron, and Welches. Number of sales are up and prices are down.

 

Our area saw eight closed sales. Pending sales are up 20% from the same momth in 2009 and 30% up year to date. This is good news. Compared to last year at this time the "number of sales" is a good indicator that 2010 should be a much better year than 2009 when we were still realing from the stock market plunge and credit tightening. Listing numbers are starting to increase. If interest rates stay near their present numbers this bodes well for a better market.

Clackamas County Credit Conditions

by Liz Warren

There's lots of credit information/conditions getting tracked by the Federal Reserve Bank of New York. Not only do they track mortgage information but credit card delinquencies, student and auto loan delinquencies and more!

Here are some interesting statistics for Clackamas County from this site:

* 4.2% of all mortgages are delinquent at 90 days or more

* 5.3% of Jumbo mortgages are in foreclosure

* 1.6% of prime loans are in foreclosure

* 1.9% of FHA and VA loan mortgages are in foreclosure

* 92.7% of prime loans are current!

* 9.1% of student loans are 60 days delinquent

If you'd like to check out other Oregon counties or states, visit this web site.

 

Portland Metro and Surrounding Area Five Year Trend

by Liz Warren

Zillow has just come out with the five year trend for sales data as of February 2010 for the Portland Metro and some surrounding cities which are charted below.  Although it does not have our Mt. Hood Area communities in the data, it gives us a fairly good idea of what has happened in the market and gets reflected in our market too.

 

Zillow Home Value Index

Tax Tips for 2009 Return

by Liz Warren

Visit houselogic.com for more articles like this.

Mt. Hood January Sales for 2010

by Liz Warren

Curious what sold in January 2010? Here are the winners:

We've got the highs to the lows in this bunch. One beautiful custom built home in Windtree, one of the mountain subdivisions, was purchased. The higher end market, which in checking numbers from Gresham to Government Camp over $700,000, typically sell 15% to 20% below asking price.

Two of the properties were foreclosures. The home selling at $244,250 was a foreclosure at the Resort at the Mountain. It had originally been priced above $300,000 but had some dry rot issues to repair.

Pricing homes in this market is difficult and if an owner was for sale prior to the market crash, their properties took a substantial amount of readjustment to get sold.

Current pending sales for February show several foreclosures but most on the lower end of the pricing scale.

Mt. Hood January 2010 Real Estate Sales

by Liz Warren

Mt. Hood area sales saw some good numbers for the forth quarter of 2009. January squeaked by with a total of six sales. Here is how we are stacking up from the regional multiple listing service:

 

Listing inventory is increasing. Pending sales are up compared to Jan 2009 when buyers were reeling from the stock market plunge and shock. Market time, for the six sales that happened in January totalled 222 days. To sell in today's market, with the increase in number of foreclosures to choose from, takes aggressive pricing. Oregon is currently ninth in the nation in foreclosures according to RealtyTrac.

Displaying blog entries 711-720 of 783

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