March 2011 RSS Feed

Working mostly with buyer representation in the current market, we have been noticing several developing trends that are worth mentioning.

First of all, several listing agents of short sale properties are switching the listings to pending once an offer is accepted by a seller, even if the bank has not accepted the offer yet.  This trend is noticable in the chart below, where there are only a few short sale listings closing, while nearly double are currently pending sales.

Secondly, we continuously tell our buyer clients that bank owned homes are the best deals on the market.  Some of them can be real "fixers" but overall they are a good deal for buyers who are willing to see past the grime.  Not all are grimey - Fannie Mae owned homes tend to have…

1.5 Acre Prime Developable Property for Sale

7006 NW 25th Avenue, Vancouver, Washington

Awesome 1.5 acre lot located on the only waterfront cul-de-sac peninsula in Vancouver, Washington.

Remodeled Interior Features:

• New heating system - energy efficient forced air heat pump for heating and air conditioning,
• New vinyl dual-paned windows,
• Re-finished hardwood floors;
• Freshly painted interior;
• Upgraded trim throughout home;

Kitchen Re-Done:

• New high-end cabinetry with dove-tail construction and self-closing drawers;
• Marble tile countertops;
• Stainless steel appliances;
• Kitchenaid Counter-depth side-by-side refrigerator;
• Fresh paint;
• Double-undermount sink overlooking the lake;
• Glass-front doors.

Open floorplan…

January Residential Highlights

Sales activity in the Portland Metro area showed mixed results in January 2011. Closed sales began the year at a higher level than January 2010 and January 2009. Inventory also saw a lower level than the fi rst month of 2009 and 2010, dropping 1.3 months compared to January 2010.

Closed sales were up 5% in January 2011 compared to January 2010. Pending sales were down 3%, and new listings dropped 20.5%. Comparing the previous month of December 2010 with January 2011, closed sales fell from 1,462 to 1,035 (-29.2%). However, pending sales grew from 1,210 to 1,489 (23.1%), and new listings jumped from 1,925 to 3,128 (62.5%). At the month’s rate of sales, the 11,697 active residential listings would last about 11.3 months.