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News outlets benefit from sensationalism, so sometimes it’s difficult to accurately assess headlines. No one can predict the future of Oregon real estate with 100% accuracy, yet there are basic facts for context about what some might presume is ‘clickbait’ news. The Long Game Depending on where in Oregon you live, our market has seen […]
Given a recent rise in interest rates, some Oregon homeowners who planned on selling this year are now wondering about holding off. One reason given is that interest rates have dampened buyer activity. While it’s true higher interest rates make home loans more expensive, a key ingredient to selling any home is property inventory. The […]
With rare exception, most home sellers hope to sell their property for the most money possible, a perfectly reasonable approach. Yet if you overprice your property in an attempt to maximize your return, you’re likely to sabotage your home selling efforts, have your property on the market longer and receive less at the closing table. […]
Real estate isn’t always predictable. Given changing conditions, language used to describe housing is rife with lingo from other industries that experience constantly shifting events—some catastrophic—like aviation. While housing is axiomatically ‘grounded’ compared to the aircraft industry, from time to time Oregon real estate market activity is described as akin to a ‘bumpy recovery,’ ‘hard […]
Compared to the life of famed superspy James Bond, buying or selling Oregon real estate is dull and monotonous, right? Au contraire. You might be surprised to see how such a comparison actually sizes up. Click here or on the play button above to hear the audio podcast of this article. Not So Mundane, After […]
One frequent Oregon real estate question is ‘What’s an acre worth?’ When you think about it, this question is not so different than ‘What’s a car worth?’ since in each situation there are variables. With a car, the mileage and condition are very important to arrive at an accurate value. Land, too has unique variables. What are these variables and as an Oregon property buyer or seller, what is it that you may need to know? Find out here!
Click here or on the ‘play’ button below to hear the audio podcast version of this presentation. Selling an Oregon home can sometimes seem overwhelming and complicated. Yet there is a logical framework to the entire process. Once grasped, this makes the task far less daunting. Easy As 1-2-3 There is usually a very logical progression to […]
As with any occupation, there are ‘insider tips’ in real estate. Exactly what are these little-discussed pointers and how can they benefit non-Realtors? In this edition of the Oregon Real Estate Podcast, we’ll briefly note why this little-known information can be so important, then we’ll get to these 5 little known ‘insider tips.’ Hear the podcast […]
Two common real estate terms are ‘seller’s market’ and ‘buyer’s market.’ What exactly do these terms mean and how do they apply to our current Oregon real estate climate? First, let’s define a ‘normal’ real estate market. Terms like equilibrium and stasis describe real estate climates favoring neither buyers or sellers. For example, let’s imagine a […]
While we’re not quite at Passenger Pigeon or Dodo Bird levels yet, among the more scarce items in Oregon right now are available homes for sale. Scarcity By The NumbersNew figures for greater Portland and Salem show no sign of Oregon’s white hot real estate market slowing down, at least yet. The inventory, or housing supply […]
For many, the sale of a home is somewhat of a mystery. What exactly is it that Realtors do to sell properties, sometimes in the dark of night? The ‘Secret’The answer is that Realtors do a lot of things, though some of them are not so well known. Today we’ll examine one of these ‘secrets’ […]
Now that Spring Break, Winter weather and ‘tax time’ are largely behind us, the forecast for Oregon real estate is sunny, indeed. Here are five key reasons for an optimistic 2016 Oregon real estate forecast, which are explained further below: 1. Interest Rates Remain Very Low2. Housing Inventory Is Very Low 3. Better Weather4. The ‘School […]
Fresh figures were just released on Oregon’s real estate market by the Regional Multiple Listing Service, or RMLS. To put the results in a nautical vernacular, we remain ‘steady as she goes.’ Portland MetroLet’s begin with greater Portland, where our backlog of home supply is unchanged at 1.8 months. This means our housing supply remains […]
A Rising Tide Raises All BoatsReal estate activity in parts of the Willamette Valley may not be an economic tsunami, like greater Portland. However, since ‘a rising tide raises all boats,’ the effect of the Portland metro’s buoyant market continues to help ensure all Oregon real estate remains afloat. The reason? For one, the sheer […]
New figures from the Regional Multiple Listing Service suggest our current hot real estate market recently transitioned from white to red. No, that’s not wine we’re talking about. Instead, we’ve gone from white hot to red hot, because home supply just increased from a shockingly low 1.2 months to a slightly less alarming 1.8 months. […]
There are many possible words to describe people, places, things and events. A recent shift in Oregon real estate brings to mind the word ‘breathtaking.’ And while that’s a term normally reserved for the Grand Canyon or certain Hollywood starlets, it also conjures the notion of astonishment, breaking fresh ground, entering a new phase, being […]
Recently released housing figures confirm a continued “seller’s market” throughout the greater Portland metro area, which includes Multnomah, Clackamas, Clark, Washington and Yamhill counties. Multiple Market Factors Our sustained strong market is characterized by (1). Low inventory, (2). Short market times and (3). Rising prices. We currently have less than a two month supply of […]
So while greater Salem’s market improvement hasn’t been ‘flashy,’ it is chugging along. This translates into a lower inventory of homes, generally higher prices and shorter market times.
Perhaps even more surprising than a meager 1.6 months of housing backlog is our region’s five straight month trend of lowering home supply.
Oregon homebuyers avoid traditional lenders for many reasons and one mechanism they frequently turn to is known as seller financing.
1.9…1.8…1.7… Curious about those numbers? The ‘What’Those are greater Portland’s dwindling home supply figures over the past three months. Our area would now ‘run out of homes’ in a miniscule 1.7 months. Homesellers may describe this phenomenon as the ‘countdown to ecstasy.’ That’s because a shortage of homes boosts demand for what they’re selling. As […]
Fresh figures on our real estate market were recently released by the Regional Multiple Listing Service, RMLS. Thanks in part to our continued low inventory of homes for sale, our housing market remains strong, with price increases the rule, not the exception. At our current rate of home sales, our market would now run out […]