Excerpted from USAToday: After police arrested Barber in August 2004, several witnesses told them Barber had blank real estate deeds in the back of his gold Infiniti Q45 luxury car, Marshall says. Deed fraud is almost impossible to detect before the damage is done. “The whole system of (real estate) recording is set up assuming the society is sheep and there are no wolves,” Barber says. He sketches a series of scenarios in which he could steal your home and borrow money against it, and Continue reading →
Recently a friend of mine had his rent increase from $580 to $780 in one month. When talking to the management they said that they understood it was a lot but the rental market has changed. They didn’t budge from the increase. He is now buying a house. Our boom started when some higher priced apartments rents weren’t far from the mortgage of the average house. When the step is that close, home prices will jump. There were many homes that you could buy and Continue reading →
“Analysts say the weakness in housing could last several months more, with a real upturn in sales not coming until spring.” Whereas this is a prediction for the entire country, I believe this will hold true for our market. Ultimately, no one can predict the market perfectly. For the people who can, this winter should be a time to find some deals.
Each day I download listings to my palm pilot. Last July I had to restrict the search because it exceeded the limit of 7500 listings. Today I had to restrict it again. It pulled 8300 listings for my selected criteria. According to the Newest information, new Listings are up 14.2% and closed sales are down 23.9%. The current home inventory is almost equal to February 2004. This is a Buyer’s Market and many Seller’s are realizing it. I have an automatic program to send out Continue reading →
The hardest part of being an agent is consistency. Each agent seems to have their own personal cycle and mine has shown up as well. For some reason October has always been busy for me and this one has been no exception. It is tough to take care of the clients and have time to do the little things, like searching for new business, keeping up on advertising and doing a blog. This creates the feast and famine moments of real estate as well as Continue reading →
The new search form will allow real estate agents to select one of the following green building certification programs from a pull-down menu: Earth Advantage, Energy Star and Leadership in Energy and Environmental Design (LEED) for homes. In addition, agents will be able to indicate other home features that can contribute to energy efficiency and ecological design such as a high-efficiency furnace, cork or bamboo flooring and partial solar power.
Here are some points from the article “In data released Tuesday, prices declined in more than 61 of the 275 cities tracked by the Office of Federal Housing Enterprise Oversight. And the deceleration has been fast: The agency reported that the decline in quarterly appreciation was steepest in more than three decades. Nationally, at the end of August, sales of existing homes were down 11.2% from July. The national numbers mask how much better — and worse — things are in local markets.” We should Continue reading →
Looking up homes for a client today I was shocked at how many homes were priced $299,999. I looked at a home yesterday that fell from $329,000 to $299,999 in less than a month. Last year, even this early summer, model of throwing a price out there and seeing if it stuck isn’t as prosperous and has been more frustrating. Of course, the more Seller’s get frustrated the more opportunities there are for Buyers. I am also finding more homes in the $275,000 price range Continue reading →
According to the Oregonian, “The Portland-area median home price reached $274,700 in July–nearly 15 percent higher than the same month a year ago, but 2 percent lower than June’s median. That month-to-month downtick–which hasn’t occurred in the strong summer selling season since 2002–along with rising inventories locally and nationally, has economists saying the Portland area’s housing market has seen its hottest days.” These next couple of months should prove interesting. As more Sellers realize “their” market is over, there might be a bit of a Continue reading →
The portland metro area has the highest inventory since February 2004. That statistic is based on the current sales pace and how long that would take to sell every single house on the market. As of July 2006, there were 11,457 active listings and 3000 pending transactions. Summer is not the time of year that you want to have high inventory.