Archive | March 18th, 2011

Portland Real Estate Market Update – January 2011

Portland Real Estate Market Update for the first month of 2011.

Portland real estate activity levels for January 2011 is as follows: 3,128 new listings, 1,489 pending sales, 11,697 homes actively marketed with over a 1,035 homes closed.  The amount of Portland real estate sales compared to Portland homes for sale it would take 11.3 months for all of the currently listed homes to sell.
To view Portland real estate listings, click on the map.

The average sale price for Portland real estate ($248,900) sank to its lowest levels since May 2004 and median prices ($215,000) were closer to those in February 2005. The average Portland real estate is now $106,000 less than it did in the summer of 2008. January is a low volume month for Portland real estate and may have an effect on the data.


Below is Portland real estate average sales prices by (MLS) market area. Please note that average sale prices are year-to-date, so they are only using one month of data. in a few months we will see those numbers settle out into their normal patterns. Also these numbers are for closed sales, so they likely reflect transactions that went pending in late 2010.
$193,300 – Gresham, Troutdale
$198,800 – Southeast Portland real estate
$201,800 – Beaverton, Aloha
$207,600 – Hillsboro, Forest Grove
$208,300 – North Portland real estate
$209,500 – Oregon City, Canby
$247,400 – Milwaukie, Clackamas, Happy Valley
$280,700 – Northeast Portland real estate
$282,300 - Tigard, Tualatin real estate, Sherwood, Wilsonville real estate
$319,800 – Northwest Washington County
$358,500 – West Portland real estate
$390,000 - Lake Oswego real estateWest Linn real estate

Click here for more information on Portland and Lake Oswego Real Estate!

Rich Peralta is a real estate professional in the Portland Metro Area and West Linn Real Estate.

He can be reached at 503.961.2181 or by e-mail at rich.peralta@exprealty.com

Originally posted on West Linn Real Estate.

 

Read the full post on PortlandPowerSearch.com

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The Closest Ocean Beaches to Seattle are Found in Grays Harbor County

Affordable Vacation Home on the Washington Coast

Affordable Vacation Home on the Washington Coast

The closest ocean beaches to Seattle are found in Grays Harbor county – 50 miles of wide sandy beaches and marvelous sunsets.  A drive of 2.5 to 3 hours that avoids ferry lines brings you to the coast. I recently toured a very attractive, large, and affordable beachfront home in the Seaview Estate community of Ocean City – just 5 miles north of Ocean Shores.  Its best features include an unobstructed view of the ocean, decks that nearly encircle the house, a luxurious great room combining kitchen/dining/living lined with view windows, a huge upstairs master bedroom with its own view deck, and big basement family room.  The beach is a short walk through the beach grass and dunes to Connor Creek, over a small pontoon bridge, and onto the sand.  Your kids will play all day in the surf, the sand, the creek, and the beach grass.  The house provides a mud room to rinse them off.  It’s a wonderful location for a family beach getaway.  Interest rates and prices make your dream vacation home affordable.

Luxurious kitchen with a view

Luxurious kitchen with a view

At this time of writing, 31 Ocean Lane, Ocean City, WA (MLS #94504) is available for $350,000.  3 bedrooms, 2.5 bathrooms, 2,576 square feet, built in 2001 and well maintained.  See 80+ photo album.

Great Room with Wall of Windows

Great Room with Wall of Windows

Click here to learn more about vacation homes on the Washington coast.

 

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Selling Your Home in a Buyer’s Market

Let’s face it, we all know this is one of the toughest times our country and real estate has endured and if you are a home seller, this is a very tough time indeed.  Selling is all about supply and demand.  Our supply is high and inundated with Short Sales, foreclosures, aggravated by job loss and and therefore, demand is low.    Even historically low interest rates and phenomenal prices aren’t baiting the buyers.  But there are homes selling, so what makes the difference between those selling and those sitting on the market?  Here are a few other reasons why your property is still on the market.

 

House unpresentable -

First impressions do make a difference.  You want to be able to grab that buyer hopefully before they even walk in the door.  If a buyer drives up to your property and there is “stuff” all around your house, chances are that the interior is not going to be much better.  It is vital these days that your home is ” spruced up”.  Just as we do when selling a car or other item, we clean it, detail it, freshen it up.  Well, a house is no different.  A fresh coat of paint, making sure the dishes are cleaned and put away, that the bath is clean and wet towels at least hung up to dry, not left on the floor, no clothes lying around, everything must be put in its place.  In this competitive market, you have to strive even more to make your home stand out amongst all the other inventory.  How is YOUR home going to stand out??  Yes, neat and tidy and picture perfect will make a good First Impression.

 

Location – unavoidable

Unfortunately there are some properties that, although you are doing everything to make your home appealing, it may be in an undesirable location, i.e. next to a freeway or on a busy road, or next door neighbors junk that will bring your value down. So the best option you have, if possible, is to be competitive with your price.  I’ll discuss this later.

 

Uncooperative Sellers -

Could this be you??  If  you are occupying your home while also trying to sell it, this can prove to be difficult with schedules and availability, but if you are serious about selling your home, you must do what it takes in this market to get that buyer in your home. Try to be flexible and realize that it only takes one buyer. Most agents and their buyers are respectful and  flexible and realize the inconvenience placed on home sellers.  True story:  Called to make an appt. for a showing  24+hours in advance and the seller was not willing to let us look at his home because of a football game. He didn’t want to miss watching it on TV.  No wonder his home has been on the market over a year!

Overfurnished or Empty -
Statistics show that a staged home will sell quicker than one not.  If you are occupying your home, pare it down.  An over furnished home will look crowded and busy, and therefore the buyer will not be able to see themselves in this home.    On the other hand, a vacant home is too bland and lacks character.  Staging a home will give the buyer an idea of how the home would look furnished, but not too much.  It accessorizes the home, as you would accessorize your wardrobe.  Can you distinguish between the two below?  Which one would you be more interested in?

Unique homes -

If you live in a truly unique home( not traditional or even cookie cutter) it could take longer to find just the right buyer for your home.  So be realistic to the type of home you may have. Think of it this way, a unique home needs a unique buyer.

 

 

Price –  $$$
I left the most important for the last.  Price is EVERYTHING when selling a home.  It is important to be realistic to what your market is.  Remember I spoke of Supply and Demandearlier.  With Supply up and demand low, the prices are driven down.  We are in a very different market now with prices down considerably than two years ago.  If you feel that you want to get the highest value out of your home, you can plan on staying in it longer.  Consider why you are selling.  Is it for a job relocation? to be closer to family? to retire and travel?  maybe you are sitting on investment property and want to liquidate.  Whatever your reason, I’m sure you don’t want to wait too long to move forward with the next phase of your life.  Pricing your home competitively will help it sell quicker.  My suggestion is listen to your Realtor and price your home in regard to market value.

$$$$$

It is a tough time, but with patience and knowledge and a good Realtor to guide you, you will succeed at selling your home.

For more information regarding Bellingham Homes for Sale, selling your home or if you are an interested buyer feel free to contact me at 360-303-3898 or email me at

 

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Hurdles and Hoops and the Home Selling Process

I just received some great news, one of my deals recorded today and is officially closed.  I know, for a Realtor this is how we earn our living, but this one was more than that.  This one was was momentous. I represented both the seller and buyer and this has been one of the most challenging transactions I’ve been involved with in my 5 and a half years in the business.  Most of it due to the home being a manufactured home and the strict guidelines of the VA for these homes or for that matter their strict guidelines.  Let me say, I’m just happy the buyer found a lender who was willing to loan on this home, for there aren’t many these days.

The challenge began after the appraisal.  We learned we had hurdles and hoops to jump through, we being the seller.  These hurdles being anything from permits on the home to hand rails on the deck.  Just when one hurdle was checked off or accomplished, there was another.  At a certain point we did begin to wonder if this would close.  But when I as a Realtor heard the frustration and hopelessness in my clients’ voice and words, I realized the importance of my job .  Realized I had to be there to guide him even when he couldn’t see, to keep the faith when he had none, to cheer him on and even roll up my sleeves and dig in to perform some of the tasks that the VA was requiring of him, the seller.  I was willing to do what it took to get this through underwriting and closed for my clients.  You see, you realize at a certain point that these hurdles are just that.  They aren’t insurmountable, but rather resolvable tasks.   Some people refer to this part of the transaction as ” handholding”.  That term is so trite.  My client is a very astute and savvy guy, and did not need any “handholding” but really just needed the support and confidence from his Realtor at this time.  He needed me to stay grounded and sure, and that’s what I did.

So today I had the pleasure of handing over the keys to the new homeowner, a 55+ U. S. Veteran.  This is the first home he has ever owned.  He never thought this would be possible.

Hurdles and Hoops, yeah, it’s all in a days work and I eat them for breakfast!

For more information about Bellingham Homes for Sale, home selling or home buying feel free to contact me, Roberta Soares, at 360-303-3898 or drop me a line at roberta.soares@exprealty.com

 

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