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It's that time of the year to hit the Steiner Log Cabin Tour. Only 300 tickets are sold for this yearly event.
Here are details from the Mt. Hood Museum in Government Camp, which is the sponsor of the event.
Enjoy this article from Oregon Live on details of the Steiner Tour and what to expect on your tour.
If you’ve entered the real estate market as a buyer or a seller, you’ve inevitably heard the mantra “location, location, location” in reference to identical homes increasing or decreasing in value based on where they’re located.
In today’s housing market where home prices are appreciating quickly, it’s important to know that not every home appreciates at the same rate. The map below demonstrates that point on a state-by-state basis using data from the National Association of Realtors.
Demand often dictates value, even for houses in the same area of the country! High demand for starter and trade-up homes have driven prices up in these categories by nearly 10% over the past year, while those in the premium markets have appreciated at closer to 6%.
The median price year to date for the Mt. Hood area as of May was $317,000. This is slightly higher than the state average median of $311,000.
If you are debating whether or not to buy and/or sell a home this year, let’s get together to help you figure out exactly what’s going on in our market.
An active spring brought nineteen sales on the mountain. May sales had a huge variety. Noteworthy were three sales with acreage. One was a fixer upper on 11 acres selling at $420,000. Another was a 3,000 square foot log home on 20 acres at $665,000. Twenty acres on the mountain anywhere is a very rare commodity.
It's time to purchase your own Mt. Hood Golf Course lot before they area all gone! There is only so many lots available in the Mt. Hood area because we are surrounded by the Mt. Hood National Forest, BLM land and large timber tracks that limits the available land available in the area from Brightwood, Welches, Rhododendron and Government Camp.
Here are today's listings currently available on the fairways
Rare opportunity to potentially have two to three building sites on Mt. Hood near Brightwood, Oregon. This six acre parcel is private and secluded. Zoned RR, it can potentially be divided into more properties. County requires a two acre minimum. There are lots of trees and it's slightly sloped.
Affordable and unique opportunity to have multiple home sites. Close to premium Mt. Hood skiing on 20 minutes away. Sandy Ridge Biking Trails near by for mountain biking enthusiasts! Mt. Hood National Forest down the street for hiking!
$145,000
The numbers have been released for May 2018 sales and stats for Mt. Hood. Most impressive is the 33 new listings to hit the market. Inventory is quickly showing up for the summer of sales this year. The majority of properties on the market under $300,000 are Mt. Hood National Forest leased land cabins, condos and "in Park" mobile homes AKA rebranded as "tiny homes" located in Mt. Hood RV Village.
Many buyers are attracted to tiny homes in Mt. Hood Village due to their pricing point. There is a space rental fee of between $475 to $650 per month. There are amenities included with that space fee, of course, including an indoor pool, weight room, work out equipment, security and gated entry.
Full time residence, second home owners and investment property buyers are strictly looking for deeded homes. The average sale price of $339,300 for May shows this market is not an easy one to get into.
June listings are flowing in so it will be interesting to see if we maintain the pace of May as we head into summer.
Mt. Hood Tiny House Village was just featured in an online article titled:
15 Gorgeous Glamping Sites That are Available to Book Around the World
From Australia to Patagoni, Texas to Oregon, our own Mt. Hood Village, in Welches, was featured in the article. Here are the tiny houses available to rent. This looks like a great marketing campaign with the rage for tiny houses throughout the world and in our own backyard!
Local Update for April Sales
RMLS report for April 2018 Mt. Hood area
April sales numbers reflect the lack of "affordable" properties available on the mountain. An influx of buyers moving to the area from Portland to escape the high metro prices, congestion, and higher quality of life the Mt. Hood area offers, are causing prices to escalate. Average sales price for the month of April was $314,900. Pending sales for the month are up substantially compared to last April.
New listings are slowly coming in and we expect a very active summer market. Highly sought after homes sell quickly and we expect this trend to continue through the foreseeable future even though interest rates are inching up.
Condo is the word of the day when you look at April sales on Mt. Hood. With half the sales for the month (seven sales) the majority were five at Collins Lake in Government Camp. It's definitely the most popular condo complex on Mt. Hood. If Collins Lake is your complex of choice sign up to received listing alerts for any new units at this Collins Lake Condo Units. Check out other Government Camp Condos.
National News for May
Note: Data below from March, 2018 is the most recent from the National Association of Realtors.
According to the National Association of Realtors® (NAR), sales of existing homes in March grew for a second straight month, but low inventory levels and affordability pressures held sales activity lower than a year ago.
Total existing-home sales (transactions for single-family homes, townhomes, condominiums and co-ops) rose 1.1% to 5.60 million in March from 5.54 million in February. Still, sales remain 1.2% below a year ago.
NAR's chief economist, Lawrence Yun, indicated that closings in March inched forward despite challenging market conditions in most of the nation. "Robust gains last month in the Northeast and Midwest – a reversal from the weather-impacted declines seen in February – helped overall sales activity rise to its strongest pace since last November at 5.72 million," he said. Yun added, "The unwelcoming news is that while the healthy economy is generating sustained interest in buying a home this spring, sales are lagging year ago levels because supply is woefully low and home prices keep climbing above what some would-be buyers can afford."
Nationwide, March's median existing-home price (all housing types) was $250,400, up 5.8% from March 2017 ($236,600). This price increase represents 73 consecutive months of gains.
Total U.S. housing inventory at the end of March rose 5.7% to 1.67 million existing homes available for sale, but remains 7.2% lower than a year ago (1.80 million) and has dropped year-over-year for 34 straight months. Nationally, unsold inventory sits at a 3.6-month supply at the current sales pace (vs. 3.8 months a year ago).
Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased for a sixth consecutive month to 4.44% in March from 4.33% in February. For all of 2017, the average commitment rate was 3.99%.
Prepare Your Home to Sell with Curb Appeal
It's important for sellers to do what they can to get their home to stand out. Here are five quick tips to generate some excitement for your home in today's market.
Use Paint: A new coat of paint can go a long way to make your home look up to date. Neutral colors work best because they appeal to the most people.
Mow the Lawn: Take the time to mow the lawn and clean the yard. Rake leaves and grass and put away any tools that may be lying around. Don't turn buyers off with a messy yard. If they like what they see on the outside, you'll improve your chances of getting them to look inside.
Plant Flowers: Seasonal or perennials can bring a splash of color to your home and brighten the view from the street. Flowers throughout the house will please the senses and make your house feel like a home.
Spruce Up Your Walkway: Dressing up your walkway with bricks or paving stones will lead people to your front door. Inexpensive solar lighting can further enhance your entry.
Window Treatments: Keep your home from looking plain or boring with some decorative shutters. Windows are very important to the overall appeal of your home. Add planter boxes underneath for an immediate improvement that doesn't cost a lot of money!
By following these tips, you will be able to capture the hearts and minds of today's buyers, as well as improve your chances for a quick sale at the best price possible.
When you are ready, contact me today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!
Prepare Your Home for Sale on the Inside
When preparing your home for sale, a number of simple cosmetic changes often provide the biggest return on investment. Here are three tips to upgrade your house without breaking the bank:
These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!
Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate.
However, some prominent experts in the housing industry doubt that home values will be negatively impacted by the rise in rates.
Mark Fleming, First American’s Chief Economist:
“Understanding the resiliency of the housing market in a rising mortgage rate environment puts the likely rise in mortgage rates into perspective – they are unlikely to materially impact the housing market…
The driving force behind the increase are healthy economic conditions…The healthy economy encourages more homeownership demand and spurs household income growth, which increases consumer house-buying power. Mortgage rates are on the rise because of a stronger economy and our housing market is well positioned to adapt.”
Terry Loebs, Founder of Pulsenomics:
“Constrained home supply, persistent demand, very low unemployment, and steady economic growth have given a jolt to the near-term outlook for U.S. home prices. These conditions are overshadowing concerns that mortgage rate increases expected this year might quash the appetite of prospective home buyers.”
“Higher interest rates are generally positive for home prices, despite decreasing affordability…There were only three periods of prolonged higher rates in 1994, 2000, and the ‘taper tantrum’ in 2013. In each period, home price appreciation was robust.”
Industry reports are also calling for substantial home price appreciation this year. Here are three examples:
As Freddie Mac reported earlier this year in their Insights Report, “Nowhere to go but up? How increasing mortgage rates could affect housing,”
“As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”
Displaying blog entries 1-8 of 8
