December Mt. Hood Market Update
Tuesday, December 10, 2019
Add Comment
Real Estate Information Archive
Blog
Pages:
Displaying blog entries 81-90 of 360
5 Reasons To Sell This Winter
Monday, December 2, 2019
5 Reasons to Sell This Winter
Below are five compelling reasons to list your house this winter.
1. Demand Is Strong
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase, and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.
Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Inventory is still under the 6-month supply needed for a normal housing market. This means in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market.
Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.
Many homeowners were reluctant to list their homes over the last couple of years, for fear they would not find a home to move into. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you decide to sell.
3. Buyers Are Serious at This Time of Year
Traditionally, homeowners think about spring as a great time to list their homes, when more buyer traffic may be out there actively searching. In the winter, however, the buyers who are seeking a home – whether for relocation or otherwise – are serious ones. They’re ready to make offers and they’re eager to move, often quickly. Your house may be exactly what they’re looking for, so listing when other potential sellers are holding off may be your best opportunity to shine.
4. There Will Never Be a Better Time to Move Up
If your next move will be into the premium or luxury market, now is the time to move up. There is currently ample inventory for sale at higher price ranges. This means if you're planning on selling a starter or trade-up home and moving into your dream home, you’ll be able to do that now. Demand for your entry-level home is high, and inventory in the luxury or premium market is too.
According to CoreLogic, prices are projected to appreciate by 5.6% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and in your mortgage) if you wait.
5. It’s Time to Move On With Your Life
Look at the reason you decided to sell in the first place and determine whether it’s worth waiting. Is money more important than being with family? Are you ready to go on with your life the way you think you should?
Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market this winter. Perhaps the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.
Mt. Hood September Sales 2019
Thursday, October 17, 2019
Mt. Hood sales are up with pending sales in September reaching 31% higher than this same time period in 2018. Average sales price is $354,000! Twenty sales closed in September and the activity is continuing into October. There are currently 63 residential properties for sale and there are 29 pending sales as of today. These numbers bode well for a great fall of activity.
Appreciation
Wednesday, August 7, 2019
Appreciation Is Strong: It Might Be Time to Sell
There’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling now is likely to drive the greatest return on your largest investment.
Home values have been appreciating for several years now, growing at a strong, steady, and impressive pace. In fact, the average annual appreciation rate since 2012 has nearly doubled the average rate from the more normal market of the 1990s (think: pre-bubble).
Appreciation, however, is projected to shift back toward normal, meaning home prices will likely keep climbing over the next few years, but they are not projected to continue to increase at such a high rate.
Here’s What That Means for Homeowners:
As noted in the latest Home Price Expectation Survey (HPES) powered by Pulsenomics, experts forecast an average annual appreciation rate closer to 3.2% over the next five years, which is more in line with a historically normal market (3.6%). The good news is, there’s still time to take advantage of the current strength of home prices by selling your house now.
Looking at the projections as they stand today, 2019 is slated to drive the strongest appreciation as compared to the upcoming few years. With average home prices still on the rise, the pace at which they are predicted to continue increasing will likely soften by 2020.
Bottom Line
If you’re thinking about selling your house, now is a great time to make your move. Don’t get stuck waiting until projected home price appreciation rates potentially re-accelerate again in 2023. You’ll likely earn the greatest return on your investment by selling now before the prices start to normalize next year.
Price increase on Mt. Hood?
Friday, June 21, 2019
Will home prices on Mt. Hood increase this year? Experts in the market say they will based on National surveys and information. Historically that increase is around 3% per year. So far, homes under $400,000 seem to be doing well for sales but once you jump up into the higher pricing points, things are a little slow. In general Government Camp commands the upper limit for sales on the mountain above $500,000.
Time To List Your Property On Mt. Hood
Thursday, April 18, 2019
Mt. Hood sales are HOT right now with many new properties selling in days! Now is the time to have your property on the market to take advantage of sales today! Call if you are ready to go.
Market Trends Newsletter for Mt. Hood March 2019
Sunday, March 31, 2019
 |
|
|
Market Trends Mt. Hood Real Estate February 2019 |
    |
Liz Warren, Merit Properties Group - Keller Williams Realty PDX Central
Welches OR 97067 Direct: 503-705-3090  Visit http://www.mthoodarearealestate.com |
|
Now is a Great Time to Sell on Mt. Hood
Wednesday, March 6, 2019
2 Reports That Say Now Is a Great Time to Sell
Heading into the spring buying market, there are strong trends starting to emerge.
The Mt. Hood area has about a 2.4 month supply of homes for our area listed as area 153 in RMLS. This includes properties in Government Camp, Welches, Rhododendron, Brightwood and a few falling in the Sandy zip code. This is a complete seller's market!
The inventory of homes for sale has increased on a year-over-year basis for eight months in a row. Home price appreciation has continued to grow, although at a slower rate. The homeownership rate has reached heights last seen in 2014, with millennials and Generation X leading the way!
Let’s dive a little deeper into some of the recent reports that have been released and what they mean for the spring buying season!
1. National Association of Realtor’s Existing Home Sales Report
Sales of existing homes were down for the third consecutive month in January. Some of this can be explained by the natural seasonality that the real estate market experiences every year, and some can be explained even further by a lack of homes available for sale on the market.
Inventory
For the last eight months, the inventory of homes for sale has been higher when compared to the same month the year before. The challenge in the market is the mismatch of the type of home that is available for sale. First-time homebuyers looking for a starter home are often competing with other buyers to stand out, often outbidding each other.
Lawrence Yun, NAR’s Chief Economist, agrees that the market is still experiencing an inventory shortage.
“In particular, the lower end of the market is experiencing a greater shortage, and more home construction is needed.”
Home Prices
The median home price for homes sold in January was $247,500. This is up 2.8% from January 2018 and marks the 83rd consecutive month of year-over-year gains. The 2.8% growth in home prices represents the smallest year-over-year change since February 2012 but is a welcome change for buyers who had feared being priced out of the market.
Days on the Market
Properties that sold in January were on the market for an average of 49 days with 38% of homes on the market for less than a month.
Yun is positive about how today’s market conditions will help buyers this spring,
“Existing home sales in January were weak compared to historical norms; however, they are likely to have reached a cyclical low. Moderating home prices combined with gains in household income will boost housing affordability, bringing more buyers to the market in the coming months.”
2. NAR’s Pending Home Sales Report
The national Pending Home Sales Index (PHSI) rose 4.6% to 103.2 in January from 98.7 in December. An index score of 100 is considered normal. All four major regions of the country experienced gains in January, with the largest increase coming in the South.
“The PHSI is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.”
Increases in the PHSI often predict increases in the level of home sales in the coming months, which is great news for the housing market leading in to spring! Yun had this to say,
“Homebuyers are now returning and taking advantage of lower interest rates, while a boost in inventory is also providing more choices for consumers.”
Bottom Line
The housing market in 2019 will require homeowners to list their house at the right price to attract buyers. If interest rates continue to stay low while wages increase, and more inventory comes to market, 2019 could be one of the best years for home sales in recent history.
Mt. Hood Condo Sales for 2018
Thursday, February 14, 2019
Mt. Hood Condos have been selling like hotcakes in 2018. Thirty two condos sold last year with twenty of those sales in Government Camp. Here’s the breakdown for each Condo complex:
- Collins Lake 11
- Grand Lodges 3
- Snow Bird 2
- Edelweiss 1
- Thunderhead 1
Meanwhile down the hill in Welches twelve condos changed hands. Here’s the shake down of those twelve sales by complex:
- Fairway Estates 7
- Clear Hills 3
- Whispering Woods 2
Demand is high for condos in Government Camp and Welches!
Check out current inventory for sale in Government Camp
No condos currently available in Welches.
Give me a call if I can help you with selling or buying your Mt. Hood Condo!
Pages:
Displaying blog entries 81-90 of 360
Syndication
Categories
- (0)
- Government Camp Real Estate (772)
- Mt Hood Inspiration-Morning Coffee (256)
- Mt. Hood 1031 Tax Exchanges (79)
- Mt. Hood Economic Conditions (842)
- Mt. Hood Local Events (367)
- Mt. Hood Mortgage and Financing Information (424)
- Mt. Hood National Forest Cabins (528)
- Mt. Hood New Properties on Market (311)
- Mt. Hood Sales Information (360)
