Real Estate Market

Featured Listing

Featured Listing

For Sale: $220,000

More Information

Market Trends Mt. Hood Real Estate September 2017

Local Update for August Sales

Mt. Hood summer sales boomed with 20 closed sales for the month of August! Believe it or not there were a few sales under $100,000 which is nearly unheard of these days. 

Mt. Hood National Forest Service cabins dominated the closings with seven sales! One cabin broke all sale records for a price of $337,000! Cabins maintain their popularity on the mountain for their uniqueness and pristine settings which can't be matched by any other properties in the area. 

On another note, Timberline Rim prices are escalating nicely. There's a lack of inventory and with the Rim having a more affordable pricing point, many folks are opting to purchase here for full time living and as a vacation spot. 

Listed below are the 20 sales for August 2017.

Mt. Hood Real estate sales for August 2017 for 97028,97067,97011, and 97049

Mt. Hood Real Estate Sales for August 2017 for Brightwood, Welches, Government Camp and RhododendronMt. Hood Real Estate sales Boon  in August 2017Mt. Hood Sales Boom in August 2017 for Welches, Rhododendron, Brightwood and Government CampReal Estate sales boom for Mt. Hood the summer of 2017

September 2017 National News

September Data Update

Note: Data below is from July, the most recent data compiled by the National Association of Realtors®.

While July's listings went under contract in less than 30 days for the fourth consecutive month due to high buyer demand, overall sales of existing homes declined as sales dips in the Northeast and Midwest outweighed sales gains in the South and West, based on data from the National Association of Realtors® (NAR).

Total sales of existing homes -- measuring transactions for single-family homes, townhomes, condominiums and co-ops -- dipped 1.3% to a seasonally adjusted annual rate of 5.44 million in July from 5.51 million in June. July’s sales pace remains 2.1% higher than a year ago, but is the lowest this year.

  Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, said the latter half of the year started off on a bit of a sour note as July's existing sales inched backward. “Buyer interest in most of the country has held up strongly this summer and homes are selling fast, but the negative effect of not enough inventory to choose from and its pressure on overall affordability put the brakes on what should’ve been a higher sales pace,” Yun said, adding that “Contract activity has mostly trended downward since February and ultimately put a large dent on closings last month.”

Housing Data Takeaways

  • Nationally, July's median existing-home price for all housing types was $258,300, up 6.2% from July 2016 ($243,200). This represents the 65th consecutive month of year-over-year gains.
     
  • Total housing inventory by the end of July fell 1.0% to 1.92 million existing homes available for sale, is now 9.0% lower than a year ago (2.11 million) and has fallen year-over-year for 26 straight months. Nationally, unsold inventory offers a 4.2-month supply at the current sales pace, down from 4.8 months one year ago.
     
  • First-time buyers nationally drove 33% of sales in July, up from 32% both in June and a year ago. The share of first-time buyers for all of 2016 was 35%.
     
  • Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage rose to 3.97 percent in July, up from 3.90 percent in June. The average rate for all of 2016 was 3.65%.

What's Your Credit Score?

Credit Score image from Credit.comYour credit score is a composite snapshot of your credit history. A high credit score takes time to cultivate, and is not likely to raise much in a short period of time. Generally speaking, you want to make sure you pay your bills on time, keep outstanding debt levels to a reasonable amount for each account, and avoid closing accounts you've successfully paid-off and managed. Don't lose hope if you have less than perfect credit, there are still good loan programs out there for responsible borrowers.

We have a list of preferred local lenders who can help you find the best financing programs for your specific needs. Contact us and take advantage of today's low interest rates!

Here are some great resources to learn more about credit scores, and to get a free credit score and report:

Warranties for Older Homes

Older Craftsman BungalowNew homes come with warranties to protect the buyer in case of the unexpected. But what about existing homes? Fortunately, there are a number of companies today who offer warranties for existing homes. Sellers can now offer their buyers a level of assurance that was previously reserved for new construction, and buyers can buy with confidence!

If you are in the market to buy or sell, ask us about the advantages of a home warranty. You might be surprised at how much protection is offered at a very reasonable price.

October Events on the Mountain

 

LOVE TO LAUGH?

Check out Timberline Lodges Comedy shows coming this October! I've been to these a couple of times and they are great!


Timberline Lodge Comedy Weekend October 2017 in Government Camp

Pumpkin Patches Close to the Mountain

Liepold Farms Fall Festival

Opening day is Saturday, September 23, open Mon-Sun 9 am - 5 pm.

Pumpkins: Pre-picked. Kid sized wheelbarrows for the little ones. Corn (5 acres) and hay mazes, pumpkin catapult, antique and farming equipment display. Bistro, BBQ pit and tricycle race track. Food and local brews. Children's pavilion. Some activities have fees. Individual activity pricing on website. 

Liepold Farms 
14050 SE Richey Rd, Boring
503-957-6425
www.liepoldfarms.com

Bushue's Family Farm Market and Nursery

Tuesday-Sunday, 10 am - 5 pm. 

5 acres of pumpkins - pick in the field or already gathered from the field, gourds, novelty pumpkins, hay bales and decorations, tractor-pulled hayrides, restrooms, picnic area and covered area, and farm animals.  Call for information about bringing a school, scout or youth group or birthday parties. 

Bushue’s Family Farm 
9880 SE Revenue Rd, Boring 
503-663-6709 
www.bushuefarming.com