Real Estate Blog

The Regional Multiple Listing Service (RMLS) report, released monthly, is filled with statistics, sometimes a little unclear and only give part of the picture as to what is happening in real estate.  Real estate is very local and neighborhood-based, so understanding about different areas helps put the numbers into perspective.

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A balanced market is 5-7 months of inventory. The Vancouver/ Clark County area is in a balanced market, holding steady month over month at 6.8 months of inventory on average for June 2010.  For this same time last year, in 2009, the average inventory was 7.9 months, and for 2010 so far, the average monthly inventory is 8.6 months. 

The biggest news for this month is that the average sold price jumped 9.8% from last

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The Regional Multiple Listing Service's Market Action Report for May 2010 was just released. 

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The RMLS report is filled with statistics, sometimes a little unclear and only give part of the picture as to what is happening in real estate.  Real estate is very neighborhood-based, so understanding about different areas helps put the numbers into perspective.

A balanced market is 5-7 months of inventory. There still is a little while to go and depending on how this first time home buyer's tax credit and the vacation home buyer's tax credit plays out, with closings that we will see in the end of June, 2010. 

The Vancouver/ Clark County area is in a balanced market, holding steady month over month at 6.6 months of inventory on average for May 2010.  For

7,579 Views, 3 Comments

The RMLS April 2010 Market Action Report was just released.
 
Inventory is approaching a more balanced market in the Portland area, a balanced market is 5-7 months of inventory, and it is now 7.3 months of inventory, down from 7.8 months in March and 12.9 months in February.   There still is a little while to go and depending on how this "perfect storm" of financial crises plays out, and Portland should be better by next year.
 
In the Vancouver area, we are still very much in a strong buyer's market with 6.6 months of inventory on average for April 2010.  For this same time last year, in 2009, the average inventory was 11.9 months, and for 2010 so far, the average monthly inventory is 9.5 months.  Real estate sales typically are at their highest in the

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The Regional Multiple Listing Service (RMLS) that serves Oregon and Southwest Washington releases a report every month about mid-way through the following month for the previous month.  On April 15, 2010, the March 2010 Market Action Report was released.

The data is pretty raw and does not specify what the monthly inventory is per area, just for the whole of Clark County, Washington.  Despite what happens with foreclosures and short sales real estate inventory tends to be cyclical, especially in the Pacific Northwest, where weather is a factor.  Buyers tend to be motivated to purchase in the spring and summer months, which is when prices tend to be higher and inventory lower.  For March 2010, the trend continues as inventory is down to 7.7 months from

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Networking With Other Realtors

It was a mistake for me to think that networking with out of state Realtors was a waste of time.  

The Portland, Oregon area has consistently been listed among the top cities to live and work, and there is a sharp increase in the number of out-of-state home buyers making plans to move here. That makes it imperative to know as many Realtors from around the country as is possible. 

It's not enough to have a network that is pulled from a directory; most of the big companies in real estate are simply franchises, and the directories from ABR, CRS, GRI, and so on, are everybody - the best and the worst are in there.  I have consistently been disappointed with names pulled from these sources - not with their knowledge and skill,

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Patience is the Secret to Short Sales

 

Do you know how a real estate Short Sale works? It happens to be the number one song on the real estate top 40 chart, but not everyone listens to real estate radio every day and so the topic of Short Sales is still new to many.

 

A Short Sale, in real estate, is when a property is worth less than what is owed to the bank. If the home is sold for current market value, then there will still be a debt owed to the bank, known as a deficiency after the sale. In order for the sale to proceed, the lender and all other lien holders will need to approve any offer that is made before the property can actually close. The work involved in getting approval for a short sale varies from bank to bank and from one bank rep to

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December 2009 was much busier than December, 2008, with closed sales up 52.6% and only a slight decline of 4.2% in median prices. However, prices rose slightly when compared to November, 2009, with median prices up 1.3% in December. Inventory levels hovered at an almost stable supploy of 7.7 months of 11,597 active listings.

Looking back over the year, 2009 average sale prices dropped 12.2% compared to 2008 and median prices dropped 11.2%. Total sales volume for 2009 also dropped to $5.5 billion, down from $6.3 billion in 2008. It certainly was not an easy year for real estate.

If you would like further information or local market statistics specific to your neighborhood, please contact us.

All statistics are from Portland RMLS Market Action, December 2009.

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Negotiating The Right Deal For Our Client

Negotiating is not about winning and losing; it’s about getting the right deal for our client and it is what makes the Realtor most valuable.

My motto has long been, “The best results always happen to those who are best prepared.” The final price and terms of a deal are the end result of the negotiation, but it is the preparation and due diligence that dictates what is being negotiated in the first place. If done well, our client will have a solid basis for their position and a reasonable answer to any objection raised by the other side.

Is the price right? It takes a lot more effort than visiting web sites like Trulia, Zillow, or any of the others, to determine the proper price to ask or offer; it takes

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Year over year, this November 2009 was a very busy month for real estate when compared to last year. Closed sales were up 72.4% which is the largest percentage increase on record for this area. However, the seasonal trend is still downward with sales down 10.7% from last month of October, 2009.

Average prices are down 11.4% compared to November of last year and 3.6% compared to last month. Residential inventory for the Portland metro area is 12,697 which would take 7.1 months to sell at the current rate.

It would seem that prices are still on a downward trend but the pace of real estate activity has somewhat stabilized.

If you would like further information or local market statistics specific to your neighborhood, please contact us.

All statistics

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