Real Estate Blog

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

While there were fewer active and new listings on the market, sales activity in Metro Portland showed an improvement in closed sales in February 2011. Closed sales this month were above levels from both last February and the month prior, January 2011. Also notable in February was a slight decrease in inventory, down from 11.3 last month and the lowest of the previous two Februarys.

Closed sales were up 5.8% in February 2011 compared to February 2010. Pending sales were down 13.9%, and new listings dropped 26.1%. Comparing the previous monthof January 2011 with February 2011, closed sales grew from 1,035 to 1,074 (3.8%). Pending sales also increased from 1,489 to 1,592 (6.9%).New listings dropped from 3,128 to2,883

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Do Open Houses Really Work?

By Marc Rasmussen - Sarasota Condos

Take a drive around some neighborhoods on a Sunday afternoon and you most likely notice a few OPEN HOUSE signs. They have been used by Realtors for a very long time. However, you probably don't know the real reason why a Realtor will hold a house open to the public.

Most people think that a real estate agent will hold their listing open to sell the property but that is not the primary reason they do it. Of course, if they do sell the property that is an added bonus but the main reason they hold their listing open is to start a relationship with the buyers that come through the open house. They are essentially looking for new clients.

Statistically, the odds of anyone buying a home this

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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

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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

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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.

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Reflecting back over the last several months in dealing with a hostile tenant, I felt it was important to share with home buyers out shopping right now.  The simple fact is that a hostile tenant does not want to leave and enjoys living in the home.

Top 12 List for Recognizing a Hostile Tenant 

1.  The tenant tells you about how the house has so many problems. 

2.  The tenant tells you how unsafe the neighborhood is.

3.  The tenant refuses to show the home to potential buyers/ does not answer their phone/ does not call you back.

4.  The tenant is purposely damaging the house or landscaping to make it unappealing to potential home buyers.

5.  The tenant tries to guilt-trip you into not buying the house, "because we've lived here for four years."

6. 

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