Real Estate Information Archive


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Credit Crunch Reflected in Market!

by Liz Warren
I've just received the new multiple listing statistics for the month of November. Pending sales for the month were down by 60%. This probably reflects the credit crunch left over from August, September and October.
Year to date through November, sales are down by around 38%. Inventory of new listings for the year hit nearly 300 and with 130 sales at the end of November that gives sellers a 43% chance of selling their homes this year.
As inventory builds and sales have tapered off there is now a 14 month supply of homes. By definition, this is well into a buyer's market.
Bigger news may be that Countrywide will quit doing sub prime loans. If other lenders follow suit, and they probably will, this will eliminate an additional 10 to 20% of buyers from the marketplace therefore increasing seller competition for those buyers.
New for 2008 will be even more emphasis on credit scores. Watch your credit score! If it goes under 680 you will pay a higher interest rate and extra fees for your loan. This will apply to conventional loans and probably FHA will fall suit.
Interest rates are likely to rise as inflation possibilities increase. Historically, rates are fantastic. With a good credit rating and a down-payment, now is an excellent time to purchase!

Shadow Hawk Condo in Welches!

by Liz Warren

Looking for a convenient location just steps from the Salmon River in a secure setting complete with on site full time manager? This is the place. Bottom level unit with NO STEPS in a quiet complex complete with a pool, hot tub and sauna.

Well maintained and updated with newer carpeting, fresh paint and pride of ownership throughout. Sit on your covered deck and listen to the river. Just across the street is a 27 hole golf course at the Resort at the Mountain.

Only one hour from Portland and minutes to three premium ski areas. You'll love the hiking trails down the street in the Mt.. Hood National Forest.  Only $184950!

Take a tour here!

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Contact Information

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