Displaying blog entries 271-280 of 361
December 2010 saw six closed sales for the month according to multiple listing service. Here are the six sales:
The first two listed are foreclosures. Two properties were in Government Camp. The majority of homes selling at this time are second homes vs. primary residential properties. Three of these sales were cash and three with conventional loans.
Looking for a foreclosure in Government Camp? Look no more. Three units are on the market as 2010 ends. Two are Collins Lake Units and one Eidelweiss unit is currently available. Here are the details below.
A local subdivision, Timberline Rim, in the Mt. Hood area recently had their CC and R's (Covenants, Conditions and Restrictions) extended by a majority vote. Recently buyers for that area have had some anxiety with the the possibility that the vote for extension would not be approved. We are waiting for details soon to be released.
November 2010 saw an increase in sales for the month! Fifteen sales closed from Government Camp, Welches, Brightwood, and Rhododendron. Mt. Hood real estate sales are picking up and this month proves it.
Here are the fifteen sales in November direct from multiple listing. SEVEN of these sales were bank owned properties including two Collins Lake Condos in Government Camp.
Information has just been released for November 2010 sales in the Mt. Hood area including Welches, Brightwood, Government Camp and Rhododendron. Below are the numbers straight out of our local multiple listing service.
Comparing the same month, November 2009, pending sales are down 35%. This is comparing the forth quarter of the year when the GNP was over 5%. What a difference a year makes.
Here are the numbers from RMLS for 2010 to give you an idea of what is happening as of the end of October. Average sale prices are down nearly 20% compared to last year. This is obviously due to the foreclosure sales this year at the lowest end of the pricing range. Our pending sales compared to last year at this time are down 23%. This reflects the difficulty in getting mortgage money in current times. Most sales that become pending through the rest of the year will probably close in 2011 with the banks moving at a snail's pace. Here's hoping 2011 will see lots of improvement!!
Eight total sales for the month of October. Here they are:
Three foreclosures this month and several second homes with price tags over the $300,000 mark. Finally, a sale in Government Camp!
It's been a dry spell for Collins Lake sales in Government Camp since January. Although the market is quite saturated with inventory, finally two units have closed in November. Both were cash sales but the prices a bit surprising.
Both of these units were foreclosures. The one selling for $234,000 was originally sold in November of 2005 for $439,000.
Financing is difficult for units, that is, if you can find it these days. Conventional lenders are placing these units under the "condotel" umbrella.
From Wikipedia: A Condo hotel, also known as a hotel-condo or a Condotel, is a building used as both a condominium and a hotel.
Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts.[1] These hotels have condominium units which allow someone to own a full-service vacation home. When they aren’t using this home, they can leverage the marketing and management done by the hotel chain to rent and manage the condo unit as it would any other hotel room.
So it goes with Collins Lake. This might be a hard pill to swallow for unit owners but until financing loosens up, this will be the hand dealt.
What is the real cost of foreclosures in a neighborhood? There are a few of them in the Mt. Hood area. Most are in Brightwood and Rhododendron but more are heading our way. This chart is taken from the web site Center for Responsible Lending and shows how much each Oregonian has lost due to foreclosures impacting the value of their homes. The average loss of value from homes that are near foreclosures is $8,442!
Many buyers and sellers are asking how are bare land sales on the mountain. Well if you take a look at Brightwood, Welches, Rhododendron and Government Camp you'll find sales are averaging about one a month this year. Not bad considering new home construction loans are difficult to find these days. Here are the ten sales since the beginning of the year.
Three sales were in subdivisions of Timberline Rim and Zig Zag Village. One Government Camp sale in Alpenglade, a couple of waterfront lots and a couple of acreage parcels. This has been a surprisingly good report for this year!
Displaying blog entries 271-280 of 361
