Thursday, December 15, 2011

How's the Market?

Our Regional Multiple Listing Service released the market stats for November 2011 this afternoon.  In general, it is a bit more good news.

Both our closed and pending sales are up when compared with November 2010.  Closed sales increased by 18.9% from November 2010 to November 2011.  Pending sales increased 18.1% for the same time period.  In addition, the number of newly listed properties decreased by 18.1%.

When comparing October 2011 to November 2011, closed sales rose, pending sales fell and new listings decreased.  This is consistent with the usual seasonal slowing we see in November and December. 

In looking at average the average sales price, we saw a decrease of 4.6% from November 2010 to November 2011 for an average sales price of $259,400.  It should be noted that this is a slight increase (0.3%) from October 2011.

Read the full report here.

We are seeing more positive than negative market factors, which could mean we are starting to get a bit of "lift off" after bumping along at the bottom. The inconsistenices in how foreclosed properties are processed and put back on the market cloud efforts to classify the current real estate market.  The market we have today is what we know...

If you'd like to know more about your specific home or neighborhood, give me a call.

Wednesday, December 14, 2011

Things that make you go hmmm.

I sat down this morning to write a blog referencing an article in yesterday's Oregonian that said Oregon incomes, during the recession, didn't fall as fast and nor as far as incomes in the rest of the country.  I liked this seemingly positive nugget in what can sometimes be a downer of a subject.  As I always do when referencing an article, I went on line to read it again and link to it.

Imagine my surprise when I found the article had been "amended" to say the complete opposite;

"Portland-area incomes fell faster and farther during the recession than national per capita income. And as Oregon takes longer to recover, incomes here continue to lag the national average as well as similar cities such as Seattle, Denver and Minneapolis." 

You can read the full article here.  And if you scroll down from the top, you'll see Tuesday's article below.

Wow.  I know how we interpret data can vary greatly. I can't though, help but be struck by this absolute switcheroo.  Had I not been looking into the article, I'd be walking around a bit more optimistic than usual at the thought that Oregonians haven't faired all that poorly.


Sunday, December 4, 2011

This condominium seems like such a good deal, don't you think?

A client of mine is looking for a condominium for his aging mother.  She is still quite independent and wants to live on her own, but is moving to Portland to be closer to her son and the support he and his family can offer.

We're looking for two bedrooms, over 1000 square feet, close in, one level and under $300,000.  As you might imagine, it is the one level that is the challenge.  So many condominium projects with larger units are on more than one level. 

Last weekend we looked at a condominium in Sellwood that really caught my eye.  The neighborhood wasn't quite right for my client's mother, but I keep thinking about that place.  Hence this blog.

8401 SE 23rd is located deep in the south end of Sellwood, sort of that unincorporatedish part.  It is an easy block and a half south of Umatilla, and about three blocks east of 17th.  The street is very quiet and does not go through to McLaughlin.

What really struck me about this condominium was how pleasant and spacious the 1027 square feet felt.  The spacious rooms really make the place feel like a home.  In addition, this unit has a very generous back yard and patio with room for gardening and entertaining.

The homeowners' association dues are $305, per the listing, which covers water, sewer, garbage, commons and exterior maintenance.  You can see the RMLS listing herePortland Maps does show this in a flood zone, so flood insurance would be needed. The grounds are lovely.  You don't see many close-in complexes with this.

All this for $179,900.  If you think of who needs this, please send them my way.  This is not my listing, but I'd be glad to show it.