News

22Jun 2010 by admin

Portland Real Estate Recovery

economy
As with many industry insiders and others who closely follow economic news, we 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 home buyer tax credit for those US citizens 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)…
Read More
19Jun 2010 by admin

Listings Throughout Metro Area

Portland Real Estate Market
Days on Market For Single Family Residences Metro Area Market Action News report. Today we will examine graphs of how long houses in Portland Oregon stay on the market. This gives us an idea of the strength of the economy because active listings going fast shows that many buyers are interested in and able to make purchases. Sellers are also very interested in how long it will take for someone to buy their property, trying to balance a quick transaction with getting a good price. As market-savvy Realtors, we take these factors into account when we do a Competitive Market Analysis for homes in and around Portland. [caption id="attachment_506" align="aligncenter" width="577" caption="Graph of the average days that listings in Portland Metro remain active on the market"][/caption] The Economic Recovery and…
Read More
18Jun 2010 by admin

Pending Deals and the Economy

Portland Real Estate Market
We're keeping a close watch on the Portland Housing Market by using Pending Homes as a measure of localized economic conditions. Pending transactions* show us the most up-to-date picture of what home prices are doing as well as an idea of how many homes are being purchased. This is an important factor when considering real estate supply and demand. *(Pending is defined as a deal that has yet to close, where buyer and seller have mutually agreed to all terms including price, closing date and other relevant terms). When the buyer and the seller have fully agreed to go through with the transaction but certain conditions such as the buyer's mortgage, inspection period, or other aspects of closing have not yet been completed. The following visual aid shows the number…
Read More
18Jun 2010 by admin

Closed Deals | Economy and Housing Sector

Portland Real Estate Market
Closed Real Estate Deals in Portland Oregon Today we're sharing some of our valuable housing market data with the public. This information is usually only available to industry professionals but we want to make sure our clients are well-informed and up to date on this ever-changing landscape that is the Local 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! [caption id="attachment_494" align="aligncenter" width="581" caption="Closed Deals And the Residential Housing Sector"][/caption] When we compared January-May 2010 with the same period in 2009, we found that closed transactions increased 42.7%. Pending deals also rose by 28.3% and new listings went up 10.4%. See the graphs and visual aids below and don't forget…
Read More
17Jun 2010 by admin

Residential Property Value | Month to Month Comparision

Portland Real Estate Market
During recent weeks we have seen closed transactions in addition to pending deals have both improved 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 have even more impact when considered with the lowering of average and median closed price of recent economic trends. Closed deals in the month of May have expanded exponentially by over 47% when compared to May of 2009. The numbers say that conditions have improved and prices are certainly better than ever in these trying times. 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. [caption id="attachment_482" align="aligncenter"…
Read More
17Jun 2010 by admin

Portland Housing Market Update

Portland Real Estate Market
Portland Oregon Realtors When industry professionals examine the economy of the housing sector; we often use a measurement known as "Inventory In Months". Basically, Inventory in Months is the total of home on the real estate market divided by the number of closed homes for sale transaction for a monthly period... The resulting number shows a measurement of real estate Supply & Demand. The idea is that inventory in months will tell you how long it would take to sell all of the homes for sale at today's sales volume. Basic supply and demand; supply is all of the available residential properties and Demand being the number of homes that buyers have purchased. Home Values | Local Economic Outlook [caption id="attachment_478" align="aligncenter" width="581" caption="Graph of Closed Portland Real Estate Transactions"][/caption]…
Read More
10Jun 2010 by admin

Happy Valley Oregon

Buying Real Estate
Happy Valley is located in Oregon’s scenic Clackamas county. This area offers both beautiful housing and exciting recreational activities. A quiet town nesting on and around the top of Mt. Scott; many available homes feature spectacular views of Portland and Mt. Hood making it one of Portland’s most desirable suburbs. Happy Valley has recently experienced a boom in business, and many local shops and national chains are minutes away from home. Kaiser Permanente Sunnyside Medical Center services Happy Valley, and offers wonderful healthcare and medical resources. An appointment with your doctor does not have to be a hassle when the office is five minutes away. Increases in the number of foreclosures means that your money goes farther and fine properties can be purchased for cents on the dollar. [caption id="attachment_339"…
Read More
10Jun 2010 by admin

Gresham, Oregon

Neighborhoods
Gresham, Oregon is located in the area known as east county (Multnomah) of the greater metro area. In 2008, the Population Research Center estimated the city's population at 101,221. This makes Gresham the fourth largest city in Oregon. The city has several neighboring communities including Portland to the West, Fairview to the North West, Troutdale to the east and north-east, and Damascus to the South. If you’re considering purchasing real estate in the Portland metro area you owe it to yourself to seriously consider the city of Gresham. [caption id="attachment_320" align="aligncenter" width="300" caption="Historic Downtown Area"][/caption] Many area homes feature spacious yards, easy highway access, local shopping and close proximity outdoor recreation areas. After a long day of shopping at local malls one may enjoy fine dining at one of the…
Read More
05Jun 2010 by admin

Entertainment & Performing Arts

Portland Oregon Info
Portland Oregon is home to national renowned entertainment and performing arts. Many famous artist are from here and derive inspiration our wonderful city. The area is filled with great theatres and entertainment for you to enjoy. Many national broadcast TV shows have been filmed in Portland Oregon including Leverage and Under Suspicion. [caption id="attachment_229" align="aligncenter" width="300" caption="Entertainment & Performing Arts"][/caption] Like most large cities, we're proud of our wide range of performing arts institutions including the Oregon Ballet Theatre, Oregon Symphony, Center Stage, Baroque Orchestra and of course the Opera. It also has quite a few stages similar to New York's Off Broadway or Off-Off-Broadway such as Center Stage, Artists Repertory Theatre, Miracle Theatre, Stark Raving Theatre, and Tears of Joy Theatre. Portland Oregon hosts the world's only HP Lovecraft…
Read More