What Experts Are Saying About This Market
Thursday, March 26, 2020
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Mt. Hood Market Stats for February 2020
Wednesday, March 25, 2020
February saw nine sales close for the month. I expect March sales to be fairly around that same number. Lack of inventory has still kept a lid on the numbers due to lack of choices for the buyers. February had only 36 properties for sale and that was with 15 new listings.
The average sales price hit $342,700 with a marketing time averaging 123 days. This could be because of the pricing point in our area these days. As of today, two thirds of active listings on the market are greater than $300,000!
The current pause in the market should be interesting. As we slowly head towards the spring market we should see listings pick up the pace. I expect the second quarter to show few sales as a result of today's slow down but hopefully by summer we will crawl our way out of this.
Mt. Hood Home and Cabin Owners: Get Your Property Ready to Sell Now!
Sunday, March 8, 2020
What is the Impact of the Coronavirus on the US Housing Market?
Sunday, March 8, 2020
Impact of the Coronavirus on the U.S. Housing Market
The Coronavirus (COVID-19) has caused massive global uncertainty, including a U.S. stock market correction no one could have seen coming. While much of the news has been about the effect on various markets, let’s also acknowledge the true impact it continues to have on lives and families around the world.
With all this uncertainty, how do you make powerful and confident decisions in regard to your real estate plans?
The National Association of Realtors (NAR) anticipates:
“At the very least, the coronavirus could cause some people to put home sales on hold."
While this is an understandable approach, it is important to balance that with how it may end up costing you in the long run. If you’re considering buying or selling a home, it is key to educate yourself so that you can take thoughtful and intentional next steps for your future.
For example, when there’s fear in the world, we see lower mortgage interest rates as investors flee stocks for the safety of U.S. bonds. This connection should be considered when making real estate decisions.
According to the National Association of Home Builders (NAHB):
“The Fed’s action was expected but perhaps not to this degree and timing. And the policy change was consistent with recent declines for interest rates in the bond market. These declines should push mortgage interest rates closer to a low 3% average for the 30-year fixed rate mortgage.”
This is exactly what we’re experiencing right now as mortgage interest rates hover at the lowest levels in the history of the housing market.
At this point in time, we have not seen any impact in the Mt. Hood real estate market. In fact, with lower interest rates many of our buyers are refinancing their primary homes, pulling out cash and purchasing their second homes to take advantage of this opportunity.
Bottom Line
The full impact of the Coronavirus is still not yet known. It is in times like these that working with an informed and educated real estate professional can make all the difference in the world.
Government Camp Alpine Crest Lot For Sale
Sunday, March 8, 2020
Rare opportunity to build your home in Alpine Crest with Mt. Hood view in Government Camp, Oregon. This lot is over a quarter of an acre and has a fantastic location to easily get to the slopes of Mt. Hood! It's one of the largest lots in the subdivision with all homes over a half a million dollars in value. Minimal HOA to pay for plowing too!
Tired of sitting in traffic on weekends to get to the slopes? Avoid those 5:00 am get up times and build your own chalet at the foot of Mt. Hood so you're first on the slopes.
More info on 90011 E. Morrison Lane in Alpine Crest Government Camp, Oregon
$280,000
Hackett Creekfront Home on Over an Acre!
Wednesday, March 4, 2020
This light and bright charmer sits on 1.15 acres on Hackett Creek. Three bedrooms and two bath home with open floor plan. Toe warming wood stove warms up the house with high vaulted ceilings and a wall of windows facing your own private forest. Steps out the living room slider is a spacious deck with a star gazing hot tub after a day on the slopes.
The living room has tons of natural light. Two bedrooms are located on the main level. Upstairs boasts the master bedroom with bathroom and walk in closet. Bonus office or den is upstairs too. Enjoy the extra deep attached two car garage!
$399,950
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More details for 67051 E. Barlow Trail!
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