December Mt. Hood Market Update
Tuesday, December 10, 2019
Real Estate Information
Mt. Hood Real Estate Blog
Liz Warren
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Mt. Hood Homeownership
Tuesday, December 10, 2019
A 365 Day Difference in Homeownership
Over the past year, mortgage rates have fallen more than a full percentage point. This is a great driver for homeownership, as today’s low rates provide consumers with some significant benefits. Here’s a look at three of them:
- Refinance: If you already own a home, you may want to decide if you’re going to refinance. It’s one way to lock in a lower monthly payment and save substantially over time, but it also means paying upfront closing costs too. You have to answer the question: Should I refinance my home?
- Move-up or Downsize: Another option is to consider moving into a new home, putting the equity you’ve likely gained in your current house toward a down payment on a new one that better meets your needs – something that’s truly a perfect fit for your family.
- Become a First-Time Homebuyer: There are many financial and non-financial benefits to owning a home, and the most important thing is to first decide when the time is right for you. You have to determine that on your own, but know that now is a great time to buy if you’re considering it. Just take a look at the cost of renting vs. buying
Why 2019 Was a Great Year for Homeownership
Last year at this time, mortgage rates were 4.63% (substantially higher than they are today). If you’re one who waited for a better time to make a move, market conditions have improved significantly. Today’s low mortgage rates combined with increasing wages are making homes much more affordable than they were just one year ago, so it’s a great time to get more for your money and consider a new home.
The chart below shows how much you would save based on today’s rates, compared to what you would have paid if you purchased a house exactly one year ago, depending on how much you finance.
Bottom Line
If you’ve been waiting since last year to make your move into homeownership, or to find a house that better meets your needs, today’s low mortgage rates may be just what you need to get the process going. Let’s get together to discuss how you can benefit from the current rates.
Henry Creek Four Bedroom Cabin
Saturday, December 7, 2019
Hit the brakes! This spacious cabin in the Mt. Hood National Forest sleeps a bunch with four bedrooms and one and a half baths! Open floor plan with wood beams, a stone fireplace, dining room and kitchen. Perfect gathering place for after a day on the slopes. Lower elevation is better for winter time access.
Spacious deck that overlooks Henry Creek and the confluence of the Zig Zag River. Enjoy peace and quiet of the forest. It's only around the corner to restaurants and grocery store. Walkable. Zig Zag Mountain Trail Head near by.
$265,000
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5 Reasons To Sell This Winter
Monday, December 2, 2019
5 Reasons to Sell This Winter
Below are five compelling reasons to list your house this winter.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase, and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Inventory is still under the 6-month supply needed for a normal housing market. This means in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.
Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.
3. Buyers Are Serious at This Time of Year
Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers who are seeking a home – whether for relocation or otherwise – are serious ones. They’re ready to make offers and they’re eager to move, often quickly. Your house may be exactly what they’re looking for, so listing when other potential sellers are holding off may be your best opportunity to shine.
4. There Will Never Be a Better Time to Move Up
If your next move will be into the premium or luxury market, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you're planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. Demand for your entry-level home is high, and inventory in the luxury or premium market is too.
According to CoreLogic, prices are projected to appreciate by 5.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and in your mortgage) if you wait.
5. It’s Time to Move On With Your Life
Look at the reason you decided to sell in the first place and determine whether it’s worth waiting. Is money more important than being with family? Are you ready to go on with your life the way you think you should?
Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market this winter. Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.
JUST REDUCED UNDER $400,000!
Monday, November 25, 2019
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If you need to spread out, this is the place! Just reduced to $399,950. Listen to the river on your covered deck. Four bedroom, two bath home right across the street from the Sandy River! Floor to ceiling fireplace with vaulted ceilings and skylights. Over a half acre of land with private yard, campfire pit, garden area and water feature. HUGE BONUS, a four car garage/shop for all of your toys.
Over 2200 square feet of living space with multiple decks! It's time to move to the mountain!
Mt. Hood Fixer
Wednesday, October 30, 2019
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This Mt. Hood Fixer is on a half acre of land that has views of the Sandy River from the lot. Clackamas County owns the property between the river and the lot so easy access to enjoy. One bedroom needs lots of TLC and has a shared septic system and is on a three party well. A road divides the lot but it's a dead end street with minimal traffic.
If you have some skills to fix things up, you can't beat the price of $99,950 for this fixer! It would make a great getaway or full time home for the mountain.
Don't Get Spooked by Today's Real Estate Market
Wednesday, October 30, 2019
Mt. Hood September Sales 2019
Thursday, October 17, 2019
Mt. Hood sales are up with pending sales in September reaching 31% higher than this same time period in 2018. Average sales price is $354,000! Twenty sales closed in September and the activity is continuing into October. There are currently 63 residential properties for sale and there are 29 pending sales as of today. These numbers bode well for a great fall of activity.
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