Cash is king. Of the seven sales in May, four were cash transactions, two were seller held contracts and one was a conventional loan. The banks are a necessary evil in completing most primary home transactions but when it comes to second homes, which the majority of our transactions have been in May, cash is king.

Three Mt Hood National Forest cabins changed hands. Two of those sales were owner contracts since conventional financing is not possible on leased land. I expect we will see more seller held contracts for forest cabins in the future.

One Collins Lake Condo changed hands, which is amazing since the entire project is shut down for major reconstruction after the law suit was settled!

Here are the details: