Thursday, February 13th, 2014 at 2:57pm. 565 Views, 0 Comments.
2013 was a year of significant improvements for the Portland real estate market. The number of distressed sales, otherwise known as bank owned or short sales, has significantly dropped over the past year, resulting in fewer “underwater” homes being placed on the market. RMLS reported this month that distressed sales dropped from 28.6% to 15.1%.
Prices in 2013 were also significantly improved in the Portland Metro. RMLS reported a 12.8% increase in the median home price last year for the Portland area. Typically, as the market goes up, the number of distressed homes for sale goes down. This is good news for both sellers and buyers.
We at JMA are thrilled that the market is getting so much healthier. This improvement allows for buyer to search for…
Thursday, November 7th, 2013 at 10:07pm. 1751 Views, 0 Comments.
The city of Portland has enjoyed a long list of kudos and awards for the many things that make this city a great place to live. Today we won another award, though the merits of this particular award may be controversial. We are ranked #1 among the Best US Cities For People 35 and Under.
This ranking was achieved variously by being in the Top 5 for such raucous categories as Most Coffee Shops Per Capita, Most Vintage Clothing Shops Per Capita, Cheapest Pack Of Cigarettes, and Cheapest Ounce Of High Quality Marijuana. Of which the latter two categories are most likely due to our lack of sales tax which makes us one of the cheapest places to buy almost anything in the United States.
Sunday, September 29th, 2013 at 6:30pm. 3924 Views, 0 Comments.
Since 2010, I have been selling manufactured homes along with real estate "stick built" homes. In the beginning, I had many pre-conceived notions about manufactured homes, mostly ill conceived as it turns out. I had the usual beliefs that the homes are not well built, that they are "plastic palaces", and that they do not appreciate in value as time goes on, making them a poor investment. Those beliefs were challenged as I became involved in these homes. I learned that they are well built, that they in many cases are just as gorgeous as any "stick built" home, and are in fact built to very strict building standards.
Since 1976, manufactured homes have been regulated to be built to HUD standards of building. This means that they must meet…
Tuesday, August 20th, 2013 at 11:06am. 4331 Views, 0 Comments.
Cash is king or is it really? The majority of my buyers have been all cash lately. Do they really have the advantage over an offer that is financed? Not necessarily. Many sellers have been more inclined to accept a higher offer that is financed over a lower offer that is all cash. Sellers now are deciding that it might be worth the risk in taking a higher financed offer because it comes to them all cash in the end anyways.. I know many cash buyers would tend to disagree with this, but I have found this to be true in many circumstances.
Buyers that are pre-approved with a lender prior to writing an offer have already gone through the hoops of what the under writers are needing to get final bank approval. Meaning they are already well qualified…
Tuesday, January 29th, 2013 at 3:44pm. 7136 Views, 0 Comments.
Home sales in December were a percent lower than November, but still 13% higher than last December. Home sales were up 9% during 2012, the highest annual sales volume since 2007.
Prices increased 4.4% as the inventory of homes for sale continues to lag behind the increase in sales volume. New listings were 5.2% lower than last year while closed sales were up 19.1%. Total market time (average days on market) fell 21.5%.
Economics 101 at work, low supply and high demand equals higher prices. This trend is forecasted to continue in the short term until the supply increases to satisfy demand.
The National Association of Realtors has identified several reasons why the inventory remains low:
1. Many homeowners are underwater. According to CoreLogic,…
Tuesday, January 29th, 2013 at 3:38pm. 3549 Views, 0 Comments.
Rick Bean has been named a 2013 Five Star Real Estate Agent. He received the same award in 2012. This award recognizes a level of excellence achieved by fewer than 7 percent of the real estate agents in the local market.
The Five Star Professional award program is the largest and most widely published award program in North America. Award candidates are measured using an objective, in-depth research methodology that focuses on customer satisfaction and a thorough regulatory review.
Thursday, September 6th, 2012 at 2:51pm. 17066 Views, 1 Comments.
Thursday, September 6th, 2012 at 2:43pm. 3114 Views, 1 Comments.
Thursday, September 6th, 2012 at 2:42pm. 3718 Views, 0 Comments.
Thursday, September 6th, 2012 at 2:42pm. 1637 Views, 0 Comments.
showed some improvement when
comparing July 2012 to the same
time period in 2011.
Offers increased 3.0%
comparing with July this year and last
from the previous month this year.
The pending sales numbers are the
highest since 2009 for
the month of July.
Sales increased 6.5%
since July 2011
and a 1.5% increase compared to
June 2012. Year-to-date
closings have increased 5.3%
when comparing the first seven
months of 2012 to 2011. July also
Inventory in months is unchanged
from the previous month and is
holding steady. At the July rate of
sales, the active listing count of 2,628
would be exhausted in 5.4 months.
This continues to be the lowest
inventory in Clark County since
June 2006 when it was 4.7.