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SE Portland Property Investment

Saturday, August 27th, 2011

Real Estate Investing

One of the many questions regarding real estate investing right now is what effect falling prices
in suburbs will have on more centrally located properties. With unprecedented
savings possible in outlying areas such as Oregon City, Milwaukie, and Gresham in
most cases renters can buy distressed properties for much less than they currently
rent for. This glut of extremely affordable housing in outlying areas has put
pressure on non-distressed transactions not to mention puts pressure on the strained
rental market. Many investors are struggling to rent out upside-down rental
properties on which they owe far more than the inventory will fetch on the open
market.

Have Questions About Short Sales?
Speak to an Experienced Portland Realtor & Get Answers: 503-473-8001

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SE Portland Home Values

So, how will this affect prices in more desirable neighborhoods such as Mt Tabor,
Buckman, Hawthorne and Belmont? Certainly, prices have lowered considerably in
these premier neighborhoods and districts of Inner Southeast Portland but there is
considerable uncertainty whether home values have stabilized or whether new rounds
of price reductions are looming on the horizon. In all this one thing is certain,
in many areas (few exceptions include Laurelhurst and Ladd’s Addition) where buyers
are very interested in short sales and foreclosures have become driving forces that
comprise real percentages of total home sales.

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Metro Area Housing

Friday, August 26th, 2011

Metro Area Housing Update

The Metro Area Housing Market appears to be in a state of flux; with outlying areas
still seeing price declines while more centrally located neighborhoods are seeing
less declines, or even flat or increasing price trends. The question on many minds
is whether pricing pressure from the suburbs will exert downward pricing pressure on
centrally located neighborhoods and if so how much will this affect prices and
overall market stability? sadly, we won’t really know for sure until it’s history
but many speculate that certain neighborhoods may still be overpriced. Also adding
convolution is the dynamic nature of housing. While some Portland Realtors proclaim that
prices are increasing (Average Sale Price) other Brokers are quick to point out that
the houses that are being sold now are larger homes and that is what is driving up
prices rather than a meaningful recovery. One thing that does appear promising is
the fact that larger, more expensive homes are finding buyers in turn means that sellers
are being freed from their existing properties. Early in the economic recovery
there was a higher percentage of entry-level homes being sold. Now that sellers
have sold what may have been their first house they are free to make new purchases
of larger, more expensive residences in more desirable areas. This may be part of
what is causing outlying areas (suburbs) to continue to suffer price declines while
close-in neighborhoods are seeing strong activity from eager buyers.

Have Questions About Short Sales?
Speak to an Experienced Portland Realtor & Get Answers: 503-473-8001

Short Sale Foreclosure Resource Certified. Real Estate Broker Licensed in Oregon.

Oregon Realty Co.
Over 63 Years In Business

Portland Real Estate For Sale

Proud Members of

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Portland Or Realtors
Portland Real Estate
Portland Short Sale Negotiator
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Beaverton Home Values

Wednesday, August 24th, 2011

Home Values Beaverton, Oregon

Beaverton Realtors Oregon

Beaverton Realtors Info

Median asking price for homes for sale in Beaverton, Oregon for this week is $255,000. Home Values in this area may be settling a little in that asking price has remained constant while price per square foot is dropping; indicating that although median asking price is the same larger homes are being sold at those prices. Inventory in the form of unsold residential listings has been declining (which is an encouraging sign) but buying activity is also declining.

Beaverton Real Estate Agents

Have Questions About Short Sales?
Speak to an Experienced Beaverton Realtor & Get Answers: 503-473-8001

Short Sale Foreclosure Resource Certified. Real Estate Broker Licensed in Oregon.

Housing In Beaverton, OR

The net result is that the housing market for Beaverton, OR doesn’t seem to be giving any clear signals in either a positive or negative direction…. And, as many Beaverton Short Sale Agents will point out, if the stronger summer selling season isn’t showing clear positive signs then home prices for the area may well decline further this coming winter.

Oregon Realty Co.
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Beaverton Short Sale Agents

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Portland Real Estate Update

Wednesday, August 24th, 2011

Real Estate Portland, Oregon

For this 4th week in August the median asking price for Portland Real Estate Listings was $289,900. And, while median asking price has been rising the average price per square foot has remained steady at $146. This means that median list price is increasing due larger homes for sale being put on the market. Market action from well-qualified buyers has been on the rise as the summer buying season continues.

Portland Realtors

Also on the rise, average day’s on market for residential property listings has increased to an average of 158 days on market. Other positive factors include the lowering levels of unsold properties; although delays in the processing of homes moving toward foreclosure may be skewing those numbers. When taken all together, the outlook of many Portland Realtors may be neutral to mildly positive for the time being.

Have Questions About Short Sales?
Speak to an Experienced Portland Short Sale Realtor & Get Answers: 503-473-8001

Short Sale Foreclosure Resource Certified. Real Estate Broker Licensed in Oregon.

Oregon Realty Co.
Over 63 Years In Business

Portland Real Estate For Sale

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Portland Real Estate
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Fewer New Homes Built

Wednesday, August 17th, 2011

National Housing Update

July marked a slowing of construction of new homes; dropping from already low levels. The Commerce Dept. stated on Tuesday that housing starts were down by 1.5% to an annual volume of only 604,000 units (seasonally adjusted). It should be noted that this was in line with Commerce Dept. estimates. The current rate of 604,000 annual units is roughly fifty percent of what economists claim is necessary to maintain a healthy housing market.

Housing Recovery Not Picking Up

“There is still no sign yet of a pickup in housing,” says Patrick Newport (economist at IHS Global Insight as quoted on MSNBC News). With weak employment cited as a major contributing factor for housing lackluster performance. Short Sales and Foreclosures are lowering demand for new houses due to the fact that distressed properties are statistically much lower in price.

Increase In Housing Demand To Come From Younger Generation

Some industry insiders see the next untapped market for homes is Younger Americans who may be currently staying at home longer or delaying entering the work force. As this new generation enters the workforce and becomes independent and requires housing new gains may well be sparked; but employment numbers need to improve for sustained recovery.

Have Questions About Short Sales?
Speak to an Experienced Portland Realtor & Get Answers: 503-473-8001

Short Sale Foreclosure Resource Certified. Real Estate Broker Licensed in Oregon.

Oregon Realty Co.
Over 63 Years In Business

Portland Real Estate For Sale

Proud Members of

Portland Oregon Relocation Specialist
Portland Or Realtors
Portland Real Estate
Portland Short Sale Negotiator
Portland Real Estate Listings
Portland Oregon Relocation Expert
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National Foreclosure Update

Friday, August 12th, 2011

Banks Mired in Bad Loans & Paperwork Woes Credited For Slowing Pace of Foreclosures

For the month of July, 2011 new foreclosures (number of first notice of default) dropped to less than 60,000 (7% less than June, 2011). The July, 2011 number of 60,000 new foreclosures is 39% fewer new foreclosures than in July, 2010. Reasons for the sharp decline in new foreclosures include regulatory red tape involving the paperwork underlying many mortgages as well as National Banks wanting to spread out the “pain” of posting non-performing loans as financial losses. Furthermore, banks are not eager to flood the market with the many thousands of foreclosed homes due to the fact that home values and market prices would drop further still… and prices dropping even more would mean a higher number of properties becoming “upside down” with more money owed against them than their fair market value which could result in foreclosures breeding even more foreclosures.

Foreclosures, Robo-Signing & Title Questions

In some States foreclosures have bee slowed by Bank practices being called into question. Recently the practice of “Robo-Signing” large batches of foreclosure documents without formal review has led to legal challenges for banks in the form of costly legal battles with disgruntled home-owners. Others have called sketchy paper-trails into question and raised legal arguments over the bank’s rights to even collect mortgage payments. This financial home-mortgage quagmire has left many homes (and home-owners) in something of a legal limbo. In some cases this takes the form of properties where multiple foreclosure auction dates have come and gone or where the bank is having its own internal struggles and has not even declared a non-paying mortgage as in default.

Portland Short Sales

Banks Cooking The Books: “Extend & Pretend”

Postponing foreclosure auction dates also benefits banks because it allows the bank to improve the appearance of its financial health so as to dodge scrutiny from regulators and appear more financially stable to investors. Accounting practices do not require banks to record the financial loss of a non-performing loan until after the foreclosure…. So, banks’ slowing down foreclosures allows them to spread out the negative impact on their bottom line. “Extend & Pretend” is a slang term used in the banking industry to describe the banking tactic of refusing to acknowledge that a mortgage is behind on payments and then extend the date which the loan would fall into default. By extending the default date and pretending that the loan is being paid as agreed banks can avoid facing the current reality of upside-down mortgages not being paid.

North Portland Short Sales

Loan Modifications Fail To Offer Real Hope

MSNBC article ” Foreclosures slow to trickle as lenders shift strategy ” quotes Real Estate Attorney Shari Olefson and sums up the fate of the majority of Loan Mods: “We worked through the modifications, and we’ve seen that really doesn’t help.” The majority of loan modifications have simply led to home owners making additional payments to the bank only to end up behind on their mortgage again.

Mount Tabor Real Estate Portland

Pay-Option Mortgages

The Article cited in the previous paragraph goes on to state that 200 billion dollars worth of Pay-Option Mortgages are scheduled to start resetting to higher payments in the coming year. These mortgages allowed home owners to have a temporarily lower house payment while at the end of every month they end up owing more money instead of less money. Interest-only financing allowed many people to squeeze into a house that they would otherwise not have been able to easily afford. With currently defaulted mortgages along with new defaults looming on the horizon many industry insiders believe that we have 3-4 years of foreclosure inventory waiting in the wings. It should be stated that these are national trends and some local areas may be less affected or more affected due to local factors such as jobs, local economy and neighborhood home values.

Oregon Realty Co.
Over 63 Years In Business

Portland Real Estate For Sale

Proud Members of

Portland Oregon Relocation Specialist
Portland Or Realtors
Portland Real Estate
Portland Short Sale Negotiator
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Milwaukie Home Values

Friday, August 5th, 2011

Home Values in Milwaukie, Oregon

Realtors Info Milwaukie Short Sales

Milwaukie, Oregon Home Values for the first week in August are at a median of $223,950 based on the median asking price of active residential listings. That figure has been dropping as of late although asking price per square foot is rising. In contrast, average day’s on market has been decreasing while buyer action has remained relatively stable. With some indicators going up and others trending down many industry insiders and Realtors believe that the market is exhibiting neither a strong upward or downward pull (however, Realtors, Brokers and Agents cannot predict future values or potential profits/losses so do your own research).

Negotiators Milwaukie Short Sales

Milwaukie Oregon Housing | Short Sales and Foreclosures

For this week Milwaukie values may have seen a bit of a bump in price however the general trend has been generally downward. Supply and demand in terms of buyer’s vs seller’s market for Milwaukie, Oregon still definitely favors buyers. Most likely we’ll need to see strong increases in buying activity in order to see prices change much. In today’s fiscally conscious economy buyers are looking at short sales and foreclosures in order to save money and also to get more house for the same price.

Short Sale Realtors: 503-473-8001

Portland Real Estate For Sale

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Housing Market Graphs Metro Area Agents / Brokers

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Realtors Update Housing Market

Thursday, August 4th, 2011

Realtors Update For Portland, Oregon Housing

This Week in Housing: Asking Price Up, Price Per Square Foot Down

The Median List (asking) Price for Portland Real Estate Listings for the first week in August is $284,000. And, while list prices have been trending up of late it should also be noted that price per square foot is trending down… meaning that larger homes are being sold and while the median price is rising the price per square foot is lowering meaning that values seem to still be dropping. Consequently, Realtors have noted more buyers entering the market to take advantage of excellent values represented in lowered price per square foot. Agents and Brokers are also taking a circumspect view of the changes in the local housing market and many see it as kind of a wash… In that raised asking prices and lowering cost per square foot lead many to believe that the market is taking a breather.

Realtors Housing Data, Update For Agents & Brokers

Need To Sell?

Many home owners find that they need to sell their homes due to job transfers, increasing costs or simply because they need relief from excessive monthly payments. Whether you’re in the Hawthorne area of Inner Southeast or in Northwest PDX Pearl District If this describes your situation please call and ask us about short sales and how our excellent track-record as Brokers with Oregon Realty Company and as Short Sale Negotiators can help you achieve your goals. Our services are discreet and confidential and we work for you, not the bank. Call today to learn more: 503-473-8001.

Asking Price Rising, Price Per Foot Dropping | Short Sale Negotiators Info

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Housing Market Lake Oswego

Thursday, August 4th, 2011

Lake Oswego Housing Market

Home Values Lake Oswego Oregon

For this week home Values in Lake Oswego, Oregon remained steady at a median list price of $549,900. Showing early albeit tentative signs of a stabilizing local market, asking price per square foot remained stable at $201. Lake Oswego Realtors also note that average days on market seems relatively stable at 182 days. Some Real Estate Agents go further and cite improvements in short sales and foreclosures / REO processing as being partly responsible for home values. Whatever the true market-drivers, the only substantial change for this first week of August is the uptick in market action from strong, well-qualified buyers.

Home Values Lake Oswego

The accompanying graph shows home values for Lake Oswego over the last few years. Certainly, even the most casual observer will note the greatly increased affordability in this wonderful area and also note that the 7-day rolling price average also seems to be leveling out a bit. Realtors still see Short sales, foreclosures / REO / Bank Owned Properties as having a continued presence in the housing market and only time will tell how stable these new trends remain.

Housing Market

The Lake Oswego, Oregon Housing Market has been moving along in a steady state with more sales than new residential listings. Overall, this is an encouraging sign which shows that buyers are absorbing some of the housing market downturn’s excess inventory. The market action index still clearly shows that home values in Lake Oswego still strongly favor buyers; however, reduced inventory and increased buyer action may well start to change market conditions for the positive over time. We’re Real Estate Agents with Oregon Realty Company and we’re here to help you with short sales, purchasing a home or selling your property.

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Portland Real Estate Forecast 2011 Jan-April

Tuesday, May 31st, 2011

Portland Real Estate Forecast 2011

Portland Real Estate Forecast 2011 Statistics

Portland Real Estate Forecast 2011As can be expected, the Portland Real Estate Forecast for 2011 has high and low points. While Portland home sales activity was down in April 2011 compared with April 2010, the average and median real estate sale prices increased compared with the previous month of March 2011. This increase in the average and median real estate sale price is good for people interested in listing their homes for sale in the Portland Metro area. The months of real estate inventory is at the lowest point in almost 3 years which may make now the perfect time to sell your home. The combination of relatively low real estate inventory and average home sale prices improving when compared to previous months may make now the perfect time to list your home.

Portland Real Estate Market Update

Portland Real Estate Forecast 2011

Portland's RMLS Data & Statistics

Portland Oregon Real Estate Forecast 2011

We like to make sure our clientele have all the information they need to make an educated decision. It is important to know what the Portland real estate forecast looks like because there can be many changes to the Portland real estate market as time goes on. Below are useful graphs, statistics and comparisons for you to see the exact status of Portland real estate market and what the 2011 Portland real estate forecast looks like. We are Portland Real Estate Brokers licensed in the State of Oregon. Please use our site to help you however possible and when the time is right be sure to call us to speak with knowledgeable and friendly professionals.

Days On The Market

This graph shows the average market time for sales in the Portland, Oregon metropolitan area over the past three calendar years.
Portland Real Estate Forecast 2011

Listed Homes For Sale V.S. Homes Sales

Looking at the fact that the number of listed homes for sale was down over 34%, it is no surprise that closed sales were down too. Buyers want selection when looking for Portland homes for sale. It can be difficult to find the right home that fits their needs. Closed sales were only down 17% in April 2011 compared to April 2010. Pending sales were down 33%, and new listings dropped 34.2%. See residential highlights table below. Comparing March 2011 with April 2011, closed sales dipped from 1,615 to 1,611 (-0.3%). Pending sales also decreased from 2,014 to 2,005 (-0.5%). New listings went up from 3,056 to 3,099 (1.4%). At the month’s rate of sales, the 11,621 active residential listings would last about 7.2 months.

Number Of Active Residential Listings In Portland

This graph shows the active residential listings over the past three calendar years in the greater Portland, Oregon metropolitan area.

Portland Real Estate Forecast 2011

Number Of Active Real Estate Listings In Portland

This graph shows the total active listings over the past three calendar years in the greater Portland, Oregon metropolitan area.

Portland Real Estate Market Update 2011

Past 5 Years Of Closed Sales In Portland, OR

This graph shows the closed sales over the past five calendar years in the greater Portland, Oregon metropolitan area.

Portland Real Estate Market Forecast 2011

Portland Real Estate Market Comparison March-April

Comparing March 2011 with April 2011, closed sales dipped from 1,615 to 1,611 (-0.3%). Pending sales also decreased from 2,014 to 2,005 (-0.5%). New listings went up from 3,056 to 3,099 (1.4%). At the month’s rate of sales, the 11,621 active residential listings would last about 7.2 months.

Portland Real Estate Market Comparison 2010-2011

Comparing January-April 2010 with the same period in 2011, sales activity was down. Closed sales decreased by 6.6% (5,900 v. 5,513). Pending sales went down by 19.7% (8,476 v. 6,806), and new listings fell 30.9% (17,918 v. 12,378). Additionally, the average sale price fell 8.1% ($279,700 v. $257,000), and the median sale price dropped 10.4% ($239,900 v. $215,000).

Buying Portland Real Estate

Now is an excellent time to buy Portland Real Estate. Buyers are increasingly finding that homes for sale in Portland are very reasonably priced and that increased affordability and low interest rates make today’s home buyer’s money go much farther. As an experienced team of Portland Realtors we have the resources to help you with every step along the way to purchasing your dream home. Our clients receive personalized service from Portland Real Estate Agents not to mention full use of our Exclusive Portland Real Estate Website. Purchasing a home is an important decision so make sure you work with a team who has your best interests in mind. Please contact us directly if you are interested in buying Portland Real Estate.

Listing Portland Real Estate

As experienced Portland Metro Real Estate Agents we have the knowledge and real-world experience to represent you in the sale of your Portland Real Estate. Our team is made up of Real Estate Brokers (Licensed in the State of OR) within Oregon Realty Company. We are full-time agents who work hard for our clients all over the Portland Metro Area. We feature your listing on our Exclusive Portland Real Estate Website and also advertise on 15 other area websites to ensure that our clients’ properties get the market exposure they need to sell right. Call us when you need a team of experienced Portland Real Estate Professionals to list and sell your property.

More Portland Real Estate Market Info

We like to make sure our clientele have all the information they need to make an educated decision. It is important to know what the Portland real estate forecast looks like because there can be many changes to the Portland real estate market as time goes on. For more information about financing, the Portland Metro area, the Portland real estate forecast and the Portland real estate market contact us directly with your questions or concerns.

The Exclusive Portland Real Estate Experience

As Portland Real Estate Brokers we know that our clients need personal attention and service. We also realize that online business, communication and advertising have become increasingly relevant in today’s society. We feel that the Exclusive Portland Real Estate Website is a step forward in providing useful information to buyers, sellers as well as Portland Realtors in Portland, Oregon. Please use our site to help you however possible and when the time is right be sure to call us to speak with knowledgeable, friendly professionals who can help you accomplish your Portland Real Estate Goals.

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