Portland Oregon Real Estate Agents helping clients with short sales, listing and buying Portland, Oregon Homes.
Portland Oregon Real Estate Agents
We are Portland, Oregon Real Estate Agents with Oregon Realty Company (Brokers licensed in the State of Oregon). When you need a Short Sale Realtor’s help in the Portland area call us and find out how our extensive experience in listing and selling Portland Short Sales can help you. Portland, Oregon Home Values have left many owners unable to sell their property for enough money to satisfy their home mortgage. This gap in what is owed and what the house will sell for has left many struggling home owners trapped under unreasonable payments. Experienced Portland Oregon Real Estate Agents can help property owners behind on their payments explore their short sale options.
Realtors Portland Oregon
Portland Oregon Real Estate Listings
Portland Home values have become increasingly affordable allowing many buyers to purchase more home than they ever thought possible. A wide selection of Portland, Oregon Real Estate Listings are available today. With great deals on Portland, Oregon short sale listings, foreclosure listings and traditional RMLS Listings, well-qualified buyers are able to take advantage of the economic downturn’s silver lining. Excellent deals on Portland Oregon Homes For Sale mean that today’s buyer can get more for their money. Experienced Portland Oregon Real Estate Agents can help you achieve your buying or selling goals. Call us to get started: 503-473-8001.
We are Real Estate Agents helping Portland, Oregon meet it’s housing needs. We are Richard Lockwood and Bruce Lockwood: Licensed in the State of Oregon and Brokers with Oregon Realty Company. In today’s economy everyone wants to get the best deal possible; which is part of the reason that Short Sales in Portland, Oregon have become such a hot topic. Sellers facing negative equity have the opportunity to sell their property as a means of eliminating mortgage debt while buyers get a chance to save big on premier Portland real estate listings.
Experienced Agents | Portland Short Sales
We deal with major banks every day, presenting short sale packages in a clear and concise manner consistent with asset managers’ guidelines. This ensures that your bank gets your short sale package and that your file is processed in a timely manner. We also maintain active lists of many lenders’ short sale (loss mitigation) depts phone numbers and their standard operating procedures. Real Estate in Portland is more affordable than ever and struggling owners are able to avoid foreclosure and begin repairing their credit with short sales.
The United States Senate is moving to extend the closing deadline for home buyers to take advantage of the Real Estate Tax Credit. Portland Home Buyers and those in short sales and foreclosures transactions are anxiously awaiting the latest news on whether the House will approve the Bill. The Portland Real Estate Recovery is still in its nascent stage and the extension of the tax credit is seen by many Portland Realtors as adding some much needed stability to the housing market.
Portland Real Estate Tax Credits
The United States Senate has amended a bill to give home-buyers who were under contract on a home purchase by April 30 an additional three months to close the deal and claim the federal homebuyer tax credit. Extending the deadline for closing from June 30 to Sept. 30 would allow lenders more time to clear a backlog of 180,000 home-buyers nationwide, said amendment sponsor Sen. Harry Reid, D-Nev.
The Portland Real Estate recovery is happening now, and many agree that extending the real estate tax credit will certainly make a sustainable transition more smooth. The amendment to HR 4213, the “American Jobs and Closing Tax Loopholes Act of 2010″ — which primarily extends unemployment insurance benefits — was approved in a 60-37 vote last Wednesday. The vote was mostly along party lines, with only four Republicans in favor and one Democrat opposed.
As with all Portland Realtors, we here at Exclusive Portland Real Estate have a front row seat for the nascent real estate market recovery in the state of Oregon. Important questions arise such as what will become of congress’ vote to extend the real estate tax credit for those home buyers who were in contract before the cutoff date? And, what effect will the tax credit have on the large numbers of Portland Short Sales?
Loan Modifications | Portland Oregon Foreclosures
Statistically, homeowners who get a loan modification have a 65-75% chance of facing foreclosure again in a year or less. Fitch Ratings Ltd. forecasts that most borrowers who get lower real estate mortgage payments under federal government loan modifications program will default within 12 months. So (on average) the struggling homeowner fearful of becoming another Portland Foreclosures statistic who gets a loan modification will be behind on their mortgage a year later… Meaning that the home owner bled dry for even more money and still lost their home. These reasons are why more are considering Portland Short Sales as a real long term solution.
Portland Short Sales and Loan Modifications
Among those with loans that aren’t backed by any federal agency, the redefault rate within a year is likely to be 65% to 75% under the Obama administration’s Home Affordable Modification Program, or HAMP, according to a report to be released Wednesday by Fitch, a New York-based credit-rating firm. Almost all of those who got loan modifications have already defaulted once.
The National Association of Realtors ® uses a formula to calculate home affordability. From this data we can conclude that middle class home buyers can afford more house for their money. A family earning the median income ($71,200 in 2010, per HUD) can afford 145% of a monthly mortgage payment on a median priced home ($238,900 in March). This housing affordability formula assumes that the buyer has a 20% down payment and a 30 year fixed rate of 4.97% according to Freddie Mac. Even if you don’t have a large down payment, FHA loans are a way to get a house with very little down payment; making home ownership even more affordable.
Graph shows the Real Estate Affordability index for Portland Oregon
exclusive Portland Real Estate
At Exclusive Portland Real Estate, we are continually excited about the wonderful opportunities which are presenting themselves in the Housing Market. The increased affordability of Portland Real Estate means that now more than ever, people who though they could never afford a home of their own are talking to Portland Realtors and taking advantage of exceptionally low interest rates and great home prices.
Exclusive Portland Real Estate is sharing valuable housing market data with the public. This information is usually only available to Portland Realtors… but we want to make sure our clients are well-informed and up to date on this ever-changing landscape that is the Portland Housing Market. This data is derived from the RMLS market report from May, 2010 and shows all sorts of interesting facts about Portland Real Estate Listings and More!
Closed Real Estate Deals In Portland Oregon
When Realtors compared January-May 2010 with the same period in 2009, we found that closed sales increased 42.7%. Pending real estate sales in Portland also rose by 28.3% and new real estate listings went up 10.4%. See the graphs and visual aids below and don’t forget to check out our other real estate blog posts for other great information and news updates!
New Listings In Portland Oregon
The visual aid below illustrates the number of new to the market residential real estate listings over the past three calendar years for the Portland Housing Market. For March, 2010, new real estate listings came close to 2008 levels for the same month. Many experienced Portland Realtors strongly believe that this fact is much if not at least partly due to the impending end of the home buyer tax credit. Other factors include the seasonal nature of the Portland Real Estate Market trends.
Thanks For choosing Exclusive Portland Real Estate for the latest in RMLS real estate listings data for the greater Portland Metro Area of Oregon. As Portland Oregon Realtors, we take our mission to provide our clients with the finest in service very seriously and wish you all the best in you real estate endeavors. Let us help make the most important financial decision in your life a decision you can be happy with.
Residential Real Estate Listings
Property Listings | Portland Real Estate
The following Realtors graph shows the active residential real estate listings over the past three calendar years in the greater Portland, Oregon metropolitan area. Note the red colored partial year that is 2010. This graph shows the number of residential homes for sale in Portland Oregon. These Portland Real Estate Trends are interesting when other somewhat intangible variables such as short sales and foreclosures “shadow inventory” are considered.
Exclusive Portland Real Estate has seen closed real estate transactions in addition to pending homes sales both both improve substantially. The many value-priced Portland Short Sales have no doubt added some fuel to the fire when looking at homes for sale. These factors on home values in Portland have even more impact when considered with the lowering of average and median sale price of Portland Oregon real estate market trends. Closed homes for sale in May expanded by over 47% when compared to May of 2009. The numbers say that conditions have improved and prices are certainly better than ever. So, with attractive prices combined with stellar interest rates, many investors as well as first time home buyers are buying into residential real estate short sales and foreclosures.
Graph of Closed Real Estate Transactions in Portland Oregon
Portland Oregon Real Estate | Home Values
These are important facts for everyone looking at buying or selling in Portland. Real estate closing sale prices in Portland Oregon for May 2010 sank 5.5% compared to May 2009, while the median homes for sale price also went down 4.4%. See the real estate residential highlights table below. When comparing Portland Oregon Real Estate from May 2010 to the month prior, April 2010, the average homes for sale price fell 2.3% ($275,500 v. $282,100) and the median homes for sale price decreased slightly by 0.4% ($239,000 v. $240,000). Keep up with Exclusive Portland Real Estate for all your home buying and selling needs.
Exclusive Portland Real Estate is proud to offer the public this informative Housing Market Update. The Regional Multiple Listings Service is publishing Market Data for Portland Real Estate during the month of May. Portland Realtors listing, selling and aggregate market information is compiled into statistical data providing powerful visual aids for the real estate market in Portland, Oregon including foreclosures, short sales and residential homes for sale.
Portland Real Estate Supply Versus Demand
Real Estate Inventory Portland Oregon
Portland Short Sales
Call us today for the latest in Portland Short Sales and all things real estate. If you need fast and professional service from Portland Realtors, make us you first call.
Free Portland Real Estate Search-Find Portland Real Estate Listings Free
At Exclusive Portland Real Estate you will receive the personal service and responsive attention from our experienced Portland real estate team. Buying a home can be one of the most important investments in your life so make sure you work with a team that has your best interests in mind. The Exclusive Portland Real Estate team has specific buyers agents that work work for you. Our experienced Portland real estate buyers agents will help you through the process of buying your next home in the Portland area.
Portland Realtors-Portland Real Estate For Sale
Search Portland Real Estate Listings for Free on our site. Peruse Portland homes for sale, real estate, investment properties, or a great new Pearl District/Downtown Condo. When you find something worth a second look call us at Exclusive Portland Real Estate (503-473-8001) to see it in person. Thanks for reading our blog and happy house hunting!
Portland Real Estate Market News Update
With all of the media focus on the stock market, oil spill, and European Bailouts, it’s easy to lose sight of a few important facts:
Portland Real Estate Prices are more attractive than ever.
Bad news on the stock market is GREAT news for YOU; Interest rates on Residential mortgages are extremely low.
With short sale and foreclosures selling in record numbers, great deals are everywhere.
Call us, we’re Portland Oregon Realtors and we’re here to help.
Predictably, the Portland real estate market has cooled a bit with the ending of the home buyer tax credit. Which means that the excellent buyer’s market is still going strong. Whether you’re looking for a comfy 3 bedroom 2 bath (3 br 2 ba) ranch home or a the latest in luxury homes for sale, the Portland Housing Market has what you need.
Portland Real Estate For Sale
Finding Exclusive Portland Real Estate For Sale
The Exclusive Portland Real Estate team will give you the personal service and attention you are looking for. Our team of Portland real estate professionals have years of experience in the Portland real estate market. This extensive experience allows us to put our clients needs first. The Exclusive Portland Real Estate team will help you find the perfect Portland home for sale, negotiate a very low price and keep you informed to protect your interests. Contact the Exclusive Portland Real Estate team before you purchase a home.
