June 2016 Sales Numbers from RMLS for Mt. Hood
The latest RMLS sales statistics are in for the Mt. Hood area. Numbers are showing fifteen closed sales for the month of June, 2016. Activity is at a booming pace right now with occasional multiple offers depending on the property or price range.
BIGGEST CHALLENGE right now for financed properties: APPRAISALS. Lenders are having a nearly impossible time getting appraisers to come to the mountain and complete appraisals. The pace and appraisal business in Portland is in so much in demand that coming to Mt. Hood is frequently turned down for easier jobs closer to the urban core. Count on a good 30 days before you'll see an appraisal for a bank loan and that may not include the "due time" back to the lender-an additional 7-10 days.
Delayed closings are becoming the norm for our area and that is brutal for buyers moving from far away and sellers timing their new purchase and move. I receive multiple calls in a week from mortgage brokers, banks and AMC's (Appraisal Management Companies) begging for names of appraisers. Welcome to the Mt. Hood summer market!
