Real Estate Information Archive


Displaying blog entries 1-10 of 14

Weather Beaten Market

by Liz Warren

No doubt about it, the crazy snow pilling up, melting snow and rain, falling trees and branches and a general lack of accessibility will be reflected in fewer pending and sold properties showing up in January. From Government Camp, which was buried with snow and constantly battling power outages closing down local ski areas to Welches, Brightwood and Rhododendron, it was a rough winter holiday season. People just couldn't get around on the roads let alone view properties.

The clean up has begun and most roads are easy to navigate so showings are happening and buyers are back. Rivers and creeks are dabbling at high water levels. Many basements are flooded and finally, everyone has their power back on.

As we shake all of this off, 2009 should be one for adjustments as major price reductions are rampant in the multiple listing service. Some owners have dropped their prices nearly 40% chasing the market down.

Buyers have rarely had so much inventory to choose from and with rates hovering around 5%, opportunity knocks!

FHA loans have increased their down payment qualifications to 3.5% down. FHA loans numbers have increased significantly from the past couple of years.

Speaking of incredible rates, this is currently causing a rush to refinance. Mortgage brokers are busy getting folks into incredibly affordable loans. If you have a lot of equity in your home, this is  a great time to pull that down payment out for a second home purchase.

Well, it's back to work for me now that the power and internet are working again!

Residential Sales For October on Mt. Hood

by Liz Warren

Are we glad October is over? What a wacky month! Between the fluctuating stock market and election news I am more than ready for November!  The weekend rain has done a good job of knocking another third of the leaves down for yard clean up. I am having my ususal fall back transition issues  and getting my internal clock adjusted. What the hec  am I'm doing up this early? I don't know.

So, here are the numbers! These are the sales for October for Government Camp, Welches, Rhododendron, and Brightwood:

The good news is that Government Camp had another sale over $500,000! This market has been hard hit with few sales of single family homes in the upper price range.

One forest service cabin closed this month. This segment also has lots to choose from and less buyers making it quite competitive. New lease fees are coming up this January so we will see what the increase does to inventory at that time.

Ok, it's on to November and election night is tomorrow. Hopefully once this is settled things will loosen up a bit.

Recession on Mt. Hood?

by Liz Warren

Sales for Welches, Rhododendron, Government Camp and Brightwood in September hit a total of 10 accroding to the Market Action section of the RMLS, multiple listing service. Pending sales were down 33% and our total sales hit a decline of 11.5% for the year. 

On the ground we are seeing an average sale price decline and the upper end of the market from $500,000 on up has disappeared and completely flattened. This comes from a combination of things. A massive inventory, high interest rates for jumbo loans, the credit crunch taking lots of buyers out of this market and slower economic times.

The chief economist for the National Association of Realtors, Lawrence Yun and others see a recession through at least the next three quarters. Some areas of the country have already corrected back to 2002 and 2003 pricing levels. There is no doubt about it, our area needs to make this correction too in order to reduce inventory levels.

The biggest hoop to jump through as a seller and agent is the bank appraisal. foreclosures will be used for comparables and these sale prices will quickly adjust the market downward. This is a difficult pill to swallow for many sellers who are still thinking in terms of 2004 and 2005 but reality will strike so the sooner the adjustment is made the quicker the market will equalize.

It's an incredible time to buy properties if you qualify. Rates are still very low and with the amount of inventory available it's a feast of opportunity. We are fortunate to live in one of the most desirable areas of the country with a predicted quicker recovery than most states. The increased population to Oregon alone makes this a no brainer opportunity.

Clackamas County Chages Hours

by Liz Warren

This is big news for buyers and sellers who are closing real estate transactions in Welches, Government Camp, Rhododendron or Brightwood. Clackamas County, as of November 1st of this year, will be closed on Fridays. Their new hours will be 7:00 AM to 6:00 PM Monday through Thursday. So, keep this in mind if you are recording documents or going to the county with questions or getting building permits.

Even More HELOC issues

by Liz Warren

Many buyers of Mt. Hood properties in Welches, Government Camp and Rhododendron use HELOCS to obtain downpayments and purchases of second homes and investment properties. With a pinching off of HELOC funds, this could impact sales in our area.

Do you have a home equity line of credit? Well, be sure and check if you think you do because many banks are pulling these and notifying owners after the fact. Some homeowners are writing checks on these equity lines and finding their checks have bounced even before the notification.

Housing prices are adjusting downward all over the nation. Home Equity Lines of Credit are based on home valuations. Depending upon what state you live in, the amount of your total home debt can be 65% or 75% of your home value. The "home value" is determined by a computer model the banks use.

If you read the small print of your agreement the banks have a right to pull this at any time the home value reaches a certain amount and they can immediately freeze your ability to use this line of credit.

Turmoil in the banking industry will cause even further tightening of credit for Helocs over the next 24 months as they sort out the sub-prime mess and capital issues.  Just be aware that this instrument to gain funds may not be there for a while!

Market Action for August 2008

by Liz Warren

Traditionally August is one of the most active of our year in sales. Take a look at the market action from multiple listing for the month of August.  The board of directors of the Multiple Listing Service have changed the calculation of the aveage days on market to the total market time which is now cummulative.Some agents would wait for a listing to expire or withdraw and relist as a new listing giving an unrealistic view of marketing time. This decision by the board will make more realistic figures for sellers and buyers to understand the market.

Sales for August were down 47% from the year before. Days on market will be showing up as longer due to the new cummulative amounts. August saw a total of 12 sales.


Zig Zag Riverfront Cabin near Mt. Hood

by Liz Warren


$210,000   only SEVEN minutes to skiing!


Charming and well maintained ski cabin on the banks of the Zig Zag River only seven minutes from ski areas! It's spacious with nearly 1400 square feet of living space. Plenty of room in the living room, kitchen and dining area. Franklin fireplace for warming up after skiing. The living room has tall ceilings with wood beams and wood accents.

The kitchen and dining area are open and you can watch the river through a wall of windows that look out to the forest and river.

A deck is located on the front of the cabin for listening to the river.

Most of the windows have been replaced making a warm and cozy cabin for wintertime use.

A handy wood storage area is just off the mud room. You'll love the bathroom which was completely rebuilt  including a full sized shower and tub.

A metal roof is perfect in case it snows. The snow will slip right off the roof for easy care.

Located only one hour from Portland in the Mt. Hood National Forest with thousands of miles of hiking trails in your back yeard. leased land in the Mt. Hood National Forest.


Mt. Hood Newsletter Hot Off the Press!

by Liz Warren

If you're interested in what is happening locally in the Government Camp, Welches, Rhododendron and Brightwood real estate markets plus nationally in real estate news you might want to sign up for my monthly newsletter to keep up with what is happening! I cover trends in Mt Hood National Forest cabins, Government Camp properties, local improvements that may inpact your ownership, lending issues and more.

Here is the latest copy!

Mt. Hood Original 1925 Cabin

by Liz Warren

This is an original 1925 cabin near Still Creek in Rhododendron. Lots of charachter and charm in this two bedroom cabin. Wood floors, old fashioned paned windows and a great deck to relax and listen to the Creek will lull your cares away.

Walk to Rhododendron across the footbridge. Located only one hour from Portland in the Mt. Hood National Forest! Minutes to year round skiing and thousands of miles of hiking trails in your backyard!

$95,000    TAKE A TOUR HERE

Mt. Hood Salmon River Lodge

by Liz Warren

Stunning setting on the Salmon River with nearly two acres of land bordering hundreds of acres of BLM land! Custom built in 2007 with all the bells and whistles. Huge soaring great room with over 26 foot ceilings, a wall of windows, hardwood floors and a floor to ceiling fireplace. Open floor plan with dining room and kitchen open to the great room. Gourmet kitchen with top end appliances, granite countertops throughout the house. Three full bedrooms and two and a half baths with over 2500 square feet of living space.

Call for a punch list of items included in this home. It will amaze you. Huge wrap around deck with covered areas, french doors, a spacious loft upstairs with two bedrooms and another full bath upstairs.

The bottom level of the house boasts an over sized two car garage and massive shop area which could also be used for storage.

This custom built home is located in Brightwood down a private gated road with Boulder Creek frontage, Salmon River frontage ( wilth around 260 feet of riverfront) and is next to BLM (Beaureau of Land Management) park areas. Walk to your own swimming hole.

ML# 8070585   $749,950    TAKE A TOUR HERE

It's only a short drive up to year round skiing on the Palmer glacier and three great ski areas, a short drive to a 27 hole golf course at the Resort at the Mountain. Portland sits only one hour away and even less time to the Portland International Airport!

Own your little piece of paradise at the gateway to the Mt. Hood National Forest! All the work is done and it's ready to go.

Displaying blog entries 1-10 of 14




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