Real Estate Blog

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Mortgage Rates At 50 Year Lows

Friday, August 19th, 2011 at 10:47am. 5373 Views, 0 Comments.

The New York Times just reported that mortgage rates have hit incredible 50 year lows, which was confirmed by Frank Nothaft, vice president and chief economist at Freddie Mac. "The average rate on a 30-year fixed-rate loan fell to 4.15 percent, with borrowers paying an average point of 0.7 percent ... and the averate rate on a 15 year mortgage fell to 3.36 percent, with an average of 0.6 points."

This should be good news for the battered housing market because lower interest rates make homes more affordable for the substantial numbers of buyers who are getting a home loan. It may also trigger another wave of refinancing which may allow some more homeowners to stay in their homes and reduce future foreclosures.

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Market Statistics for July 2011 in the Portland Metro

Friday, August 19th, 2011 at 10:41am. 3070 Views, 0 Comments.

July Residential Highlights

Closed and pending sales were both up in July 2011 compared with July 2010. Additionally, the inventory level in July 2011 was down 3.8 months compared with the same month a year ago. Closed sales grew 21% in July 2011 compared to July 2010. Pending sales were up 18.4%, and new listings dropped 27%. Comparing June 2011 with July 2011, closed sales decreased from 1,958 to 1,709 (-12.7%). Pending sales decreased from 2,001 to 1,928 (-3.7%). New listings went down from 3,143 to 2,942 (-6.4%). At the month’s rate of sales, the 11,970 active residential listings would last about 7 months.

Sale Prices

Average sale price for July 2011 declined 7.4% compared to July 2010. Median sale price also fell 7.6%. See residential

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Market Statistics for June 2011 in the Portland Metro

Friday, August 19th, 2011 at 10:38am. 2926 Views, 0 Comments.

June Residential Highlights

While closed sales were down in June 2011 compared with June 2010, pending sales jumped compared with the same month a year ago, and inventory hit the lowest level since July 2007. Closed sales were down 2.7% in June 2011 compared to June 2010. Pending sales were up 23.7%, and new listings dropped 22.4%. Comparing May 2011 with June 2011, closed sales increased from 1,742 to 1,958 (12.4%). Pending sales decreased from 2,167 to 2,001 (-7.7%). New listings went down from 3,338 to 3,143 (-5.8%). At the month’s rate of sales, the 11,817 active residential listings would last about 6 months, a drop of 1.3 months since the inventory level in June 2010.

Sale Prices

Average sale price for June 2011 declined 7.8% compared to

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Market Statistics for May 2011 in the Portland Metro

Saturday, June 18th, 2011 at 4:17pm. 4005 Views, 1 Comments.

May Residential Highlights

While closed sales were down in May 2011 compared with May 2010, pending sales greatly increased compared with the same month a year ago, and inventory hit the lowest level since October 2009. Closed sales were down 15% in May 2011 compared to May 2010. Pending sales were up 45.1%, and new listings dropped 4.1%. See residential highlights table below. Comparing April 2011 with May 2011, closed sales increased from 1,611 to 1,742 (8.1%). Pending sales also increased from 2,005 to 2,167 (8.1%). New listings went up from 3,099 to 3,338 (7.7%). At the month’s rate of sales, the 11,825 active residential listings would last about 6.8 months.

Sale Prices

Average sale price for May 2011 declined 4.8% compared to May 2010.

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Market Statistics for April 2011 in the Portland Metro"

Saturday, June 18th, 2011 at 4:11pm. 4298 Views, 0 Comments.

April Residential Highlights

While sales activity was down in April 2011 compared with April 2010, average and median sale prices increased compared with the previous month of March 2011. Closed sales were 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.

Sale Prices

Average sale price for April 2011 declined 5.2% compared to April 2010. Median sale price also fell

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My new website!

Monday, May 23rd, 2011 at 1:58pm. 7045 Views, 4 Comments.

If you haven't taken a look at my new website, please do. I am excited about what this can do to help you in finding your new home or figuring out what is selling in your neighborhood.

Let me know what you think. I would appreciate any feedback to make this a better experience for you.

Thanks,

Stan

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HUD Homes

Saturday, May 21st, 2011 at 4:58am. 3972 Views, 0 Comments.

HUD homes are currently eligible for 3.5% down and 3% seller paid closing cost on behalf of the buyer.

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Five Star Agents Award

Monday, May 16th, 2011 at 10:28am. 3989 Views, 1 Comments.

The April issue of Portland Monthly magazine awarded the "FIVE STAR Real Estate Agent" award to four agents at JMA Properties. These agents were selected based on a survey of 54,530 recent homebuyers, 7,000 readers of Portland Monthly, and 250 Mortgage and Title Company representatives. We would like to extend our congratulations to:

Brian Spear
Tim Manickam
Jamie Richter
Theresa DeSousa

JMA Properties is a full service real estate brokerage based in Portland, Oregon. We are actively recruiting experienced real estate agents who believe in first class customer service. Click here to learn more.

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Market Statistics for March 2011 in the Portland Metro

Thursday, April 21st, 2011 at 5:33pm. 2751 Views, 0 Comments.

March Residential Highlights

While sales activity was down in March 2011 compared with March 2010, activity increased compared to the previous month of February 2011. Additionally, inventory in the Portland metro region was 0.7 months lower than March 2010, reaching the lowest inventory level for the area since May 2010.

Closed sales were down 10.2% in March 2011 compared to March 2010. Pending sales were down 16.2%, and new listings dropped 38.7%. Comparing February 2011 with March 2011, closed sales jumped from 1,074 to 1,615 (50.4%). Pending sales also increased from 1,592 to 2,014 (26.5%). New listings grew from 2,883 to 3,056 (6%). At the month’s rate of sales, the 11,458 active residential listings would last about 7.1 months.

Sale Prices

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March 2011 Market Action Report for Clark County Washington

Sunday, April 17th, 2011 at 12:24am. 3946 Views, 0 Comments.

From Regional Multiple Listing Service.

March Residential Highlights

While sales activity in Clark County showed decreases March 2001 compared to March 2010, sales activity increased when compared to the previous month of February 2011.  Inventory also decreased, reaching the lowest level for Clark County since June 2010.

Comparing March 2011 to March 2010 shows closed sales decreased by 13.9%.  Pending sales also fell by 15.3%, and new listings dropped 18.9%. 

Month-to-month, when comparing February 2011 with March 2011, closed sales grew from 274 to 390 (42.3%).  Additionally, pending sales increased from 408 to 563 (38%), and new listings went up from 705 to 769 (9.1%).

At the month's rate of sales, the 3,227 active residential listings

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