Mt. Hood Inspiration for Monday
INSPIRATION FOR TODAY:
Liz Warren
Displaying blog entries 751-760 of 1904
INSPIRATION FOR TODAY:
As we head into fall, the past month of October was still packed full of pending sales and 20 completed sales, probably finishing up summer contracts that have been going through the mortgage process. I'm warning buyers and sellers that some transactions are taking 2 to 3 months to close due to extensive appraisal waiting times.
October saw higher sale prices making the average sale price $326,700 for the month. Closed sales for the year so far has hit 171! With only 60 active listings the inventory is thinning quickly with continued high demand and low supply. Interest rates are inching up after the election results so any first time home buyers should make their move now!
September 2016 saw a huge number of closed sales for Rhododendron, Welches, Brightwood and Government Camp. Area 153 in the multiple listing service reported 27 residential sales closed for the month.
Rising equities in Portland, new residents and increased density in Portland has caused an uptick in buyers for the Mt. Hood area. This includes full time and second home buyers heading for the Cascade Foothills. Our properties are much more affordable than inside the urban growth boundary making mountain living very attractive to many!
Timberline Rim, which is Mt. Hood's largest subdivision running along the Sandy River, saw seven sales close for the month. The "Rim" as locals call it, is one of the most affordable areas to purchase on the mountain. Most homes were built within the last twenty five or so years so they are relatively new compared to many of our 1930's and 40's cabin which frequently have financing challenges.
Speaking of affordable, two tiny homes at the Mt. Hood RV Village Resort changed hands. These properties have recreational amenities with indoor pool and weight room plus gated access for security. Downsizers love these properties and the space rent runs in the area of $550 a month.
forest service cabin inventory is way down with multiple offers on many cabins as soon as they hit the market. Only about five cabins are currently for sale. Three closed in September. These are great getaways for urban dwellers who need space to relax and get away from the crowds of big cities and small spaces.
Here are the twenty seven sales that closed in September.
Listen to the sounds of the Sandy River from your front deck at this Rhododendron location in the Mt. Hood Cascade foothills. This home is "like new" and it was just finished. Four bedrooms and three and a half baths gives plenty of room to spread out! I love the great room with kitchen and family room area complete with propane fireplace and tons of windows letting in natural light. An island and breakfast bar is great for entertaining. Granite counter tops, built in desk and butler bar are just a few of the bonuses in this home.
All bedrooms are upstairs with a master bedroom and bath to die for. Tub and tiled shower! All the bedrooms are spacious. Bonus room upstairs great for media room, office or kids play room. This sun filled area has skylights and a wet bar.
The property is over a half acre and is flat and usable. Plenty of room for a pole barn too!
This location is a recreational paradise with Sandy Basin Mountain Biking trail down the road and minutes to the Mt. Hood National Forest for hiking. Skiers will enjoy the easy access to the mountain with a quick 20 minute drive to the slopes.
Tons of room for family and friends in your new Mt. Hood home only one hour to Portland! asking $495,000
$495,000
More details on 64100 E. Relton Road
Looking for a great Mt. Hood getaway in the Cascade foothills? This is the one! Originally built in 1937 its had a lot of tender loving care and shows it throughout. Beautiful wood walls and floors, stone fireplace and a bedroom on the main level plus spacious loft bedroom upstairs. Located just a short walk to the Zig Zag River and on nearly a half acre, this gem will be a wonderful full time or vacation home. Remodeled kitchen, updated bathroom and comfortable propane heated cabin. Asking $275,000.
August sales topped 20 this past month and the average sales price is inching up as lower priced properties disappear. The marketing time is down to an average of 59 days for the month.
There's only 45 homes, condos and cabins for sale in Welches, Rhododendron and Brightwood right now. Government Camp inventory is higher with 33 properties for sale. Good weather has brought buyers out in force so a good fall in sales should continue with low interest rates.
Closing times are delayed by exceptionally long appraisal delays. It sometimes takes 6-8 weeks to get an appraisal in the area. Lengthy closing dates are the norm creating chaos for buyers and sellers trying to make plans. The appraisal crisis isn't going away so it's something to keep in mind with any real estate transaction in the works with a mortgage of any kind.
The biggest relay race in the country begins tomorrow, Friday the 26th. This marks the 35th year of the Hood to Coast Relay run which starts at Timberline Lodge and ends at Seaside at the coast. Locals get ready for the stunning invasion of 1050 teams of runners with 8 person teams plus volunteers and support groups. As locals prepare there are a few places we don't want to be on Friday and that is on Hiway 26 between Government Camp and Sandy during the afternoon. It's a welcome economic boost to our area and we turn our Village over to the runners for Friday.
Spectators can enjoy the whimsical runners outfits and transportation vehicles in all their glory. Vans will be heading to the mountain today and restaurants will be packed this evening for pre-race celebrations.
Good luck to all runners!
Good news for higher priced homes in the Mt. Hood area for July. Three homes sold for over $500,000 and two in the $400,000 range. Dwindling inventory and affordable mid price range homes are few and far between in this market with multiple offers coming in on many properties.
As home equities rise in Portland we are seeing many new buyers purchasing that second home. We are also seeing many new full time residents moving to the mountain to escape the urban density of Portland. Here are the July sales for Mt. Hood.
Spread out in this four bedroom home with private neighborhood location bordered by greenway on two sides! Lots of extras that will make this a bonus purchase. Great room is vaulted and open with brand new carpet and paint. Bonus sun room that can be used as a dining room or rec room with tons of windows. There's a single car garage attached to the house and behind the house is a two car garage or shop. A bonus studio or play room is also in this sunny back yard. Plenty of room for a hot tub and a garden too. Just a short walk to schools, shopping and restaurants from this location. All on sewer and water. Borders a 5 acre common area with NO HOA fees! A great buy at $299,950!
More info on 68284 E. Twinberry Loop Welches, Oregon
July sales numbers are in to multiple listing and here is how the month stacked up against 2015 and year to date. Pending sales are up 28% over July 2015! With this past month's sales closing we see a total of 101 year to date. Shorter days on market with a 42 day average is a big improvement. Buyer demand has been high. Many buyers are searching for waterfront which is in major shortage for 2016. Sellers with waterfront are getting top dollar for their properties. The majority of waterfront buyers have moved from deeded properties to leased land where this is a small supply of cabins.
Closing times for lender purchases are taking lots of extra time to complete. Sometimes up to 60 days due to the Northwest appraiser shortage. Buyers and sellers are frustrated with the time frames. More rural properties outside of the urban growth boundary are suffering the most with 6 to 8 week appraisal time lines. It's at a crisis point for the real estate industry. Patience is the word of the year in getting properties to close on time with current appraisal challenges.
Displaying blog entries 751-760 of 1904