Displaying blog entries 281-290 of 360
Recent sales for September 2010 in the Mt. Hood area from Welches, Rhododendron, Brightwood and Government Camp are in. Here's the info direct from multiple listing services:
Nationally, foreclosure buyers received a 26% discount when purchasing foreclosed properties if they purchased in the second quarter this year. Pre Foreclosure buyers received a 12.97% discount. REO or bank owned foreclosure buyers were able to receive a 34.54% discount for their purchase in the second quarter.
According to RealtyTrac, about 24% of sales in the U.S. were foreclosures! The hardest hit states were California, Nevada and Arizona averaging nearly 50% for all of them combined.
Oregon, in the second quarter had around 25% of sales as foreclosures. Of course these foreclosures impact pricing and are creeping into appraisal comparables if they are near a home that is selling. Bad news for sellers due to the impact they have on their values.
The good news is for buyers, there are many properties to choose from. Here is a list of the foreclosures currently for sale in the Mt. Hood area from Government Camp, Rhododendron, Welches, and Brightwood:
Recent numbers are out from the Multiple Listing Service for our August Mt. Hood sales. The numbers are squeaking out at a total of five sales for August.
Here is the chart.
Reflected in this chart is that pending sales compared to a year ago for the month of August are down 50%. Less buyers in the market at this time and more competition for sellers for those buyers. The number of closed sales is inaccurate as the real number is five vs. four.
The summer hang over from the governments home buyer's tax credit will be over soon and a more realistic number will appear in the months ahead. Despite all the media doom and gloom over the numbers, nationally about 10,000 homes close each day in the US.
Great News! All five of the Mt. Hood area real estate sales this past month were non foreclosed properties! Most months about half of the sales were distressed foreclosure sales.
Here are the sales:
Another forest service cabin sold and one Clear Hills Condo unit closing at $190,000.
One of the very few remaining Alpenglade lots in Government Camp closed in July, 2010 for $230,000 cash. Lot sales have been few and far between with the slowing down of the real estate market. I am pleased to report that I was the marketing agent for this property.
If you've kept up with recent reports you will find that the majority of sales for 2010 were pushed up to the first half of the year due to the first time home buyer's credit. Sales plummeted since that time. Buyers who may have bought later in the year pushed their plans forward leaving a 30% drop in sales for Jully.
Brightwood, Rhododendron, Welches and Government Camp saw three closed sales for residential properties for the month of July. Two of these homes were foreclosures. Here are the sales:
The Portland Metro RMLS data has been released for the Mt. Hood Area market place from Government Camp, Welches, Brightwood and Rhododendron. This compares numbers from 2009 to 2010. Here are the numbers:
Total listings and inventory is increasing. Pending sales hit 45% less than 2009. Marketing times are increasing. For these three properties, despite the fact that they were foreclosures hit 232 days for a sale.
Choices, choices and more choices! Government Camp has a great inventory of Collins Lake Condos current available for sale. Get ready for winter skiing and pick up your Condo now! Here's the inventory:
Mt. Hood real estate sales for June 2010 hit a whopping 15 sales. Here is the most recent chart from NAR-National Association of Realtors showing national sales for the month of June 2010. Is the Mt. Hood area bucking a national trend?
Look at the number of sales in 05 and 06 compared to today's figures. As a general statement, the mountain sales have probably declined in numbers by two thirds at the height of the market in 05-06.
A record number of sales closed in June 2010 in the Mt. Hood area. Most of them went pending in March and April. Seven of the fifteen were bank foreclosures. Nine sales were under $200,000. The good news is that there were two Resort at the Mountain homes which sold. That area has seen some spark recently with a few sales and some new properties coming on the market. Here are the June sales for 2010 in the Mt. Hood area:
Displaying blog entries 281-290 of 360
