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The Cost of Foreclosures

Wednesday, October 27, 2010
by Liz Warren

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!

Mt. Hood Foreclosures Loss in Value

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Mt. Hood Land and Lot Sales 2010

Sunday, October 24, 2010
by Liz Warren

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.

Mt. Hood Land sales for 2010

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!

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September Mt. Hood Real Estate Sales 2010

Sunday, October 24, 2010
by Liz Warren

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:

September 2010 sales on Mt. Hood

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Mt. Hood Real Estate Sales for September 2010

Sunday, October 24, 2010
by Liz Warren

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:

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The Unemployment Recession

Wednesday, October 20, 2010
by Liz Warren

What will help turn home buying around? Jobs. Here is how Oregon compares to the rest of the US in unemployment:

Oregon Unemployment rate compared nationally

How does this recession compare to others the US has seen? Check out this chart:

 

the unemployment recession

 

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Predictions From Concord Group on Recovery

Friday, October 15, 2010
by Liz Warren

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.

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Mt. Hood Area Foreclosures

Sunday, October 3, 2010
by Liz Warren

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:

Mt. Hood foreclosures

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Ten Reasons To Buy A Home Now

Tuesday, September 21, 2010
by Liz Warren

The recent media bash for homeownership by Time Magazine was disappointing to read. The housing bubble and crash was not created by "homeownership" it was created by EASY CREDIT and LENDING PRACTICES.

A recent article in the Wall Street Journal by Brent Arends explains why this is the perfect time to purchase a home. Here is a summary:

 10 reasons to buy a home on Mt. Hood

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Mt. Hood Real Estate August Sales 2010

Wednesday, September 15, 2010
by Liz Warren

Great News! All five of the Mt. Hood area real estate sales this past month were non foreclosed properties! Most months about half of the sales were distressed foreclosure sales.

Here are the sales:

Another forest service cabin sold and one Clear Hills Condo unit closing at $190,000.

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Unbelieveable Value! Home and Shops on Acreage at Mt. Hood

Wednesday, September 8, 2010
by Liz Warren

$309,500   No Misprint!!!! This is really the price!

This immaculate property has everything you might want on acreage! The price has just been dropped to $309,500 because the sellers are ready to move. The home is very well built and shows pride of ownership throughout. A floor to ceiling fireplace in the living room with high vaulted ceilings is a fantastic place to relax.

Spread out on 3.6 acres of land complete with a seasonal creek and pond.

You will enjoy the two shops and tons of storage areas on the property. The views are fantastic and there is lots of sun!!!

Play VisualTour

 

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Liz Warren
Merit Properties Group - Keller Williams Realty PDX Central
Box 131
Welches OR 97067
Direct: 503-705-3090
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