Posts Tagged ‘real estate’

What is the Current Average Home Sale Price in Your Area? Got it Right Here!

Friday, November 7th, 2014

In the last few months I’ve been switching up my real estate market tracking which previously only tracked the Portland metro and surrounding areas as a whole, lumping in Molalla with say N Portland, which shows the overall conditions in the Portland real estate market at large, but doesn’t get granular enough to help folks buying or selling a home in a given area.

That has now changed. I am now tracking, daily, each of the 13 individual RMLS markets in the Portland metro region. This still may not get granular enough for some, however being that these “areas” are defined by RMLS as “markets” it should help quite a bit.

So, home sale prices in a given area? Lets get on with it! These numbers represent all logged sales in the last week (from October 30th – November 6th):

RMLS Area 141 North Portland

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Target Security Breach and How it Could Affect Lending Soon

Wednesday, February 5th, 2014

Unless you’ve been sleeping under a rock for the last few months you’ve heard of the Target security breach that’s effected a whopping 1 in 5 people. Well an interesting question has been raised recently and that is how this breach will affect lending and the housing market in general when loan approvals start becoming loan denials due to some guy buying a new $3,000 4K flat screen on your card as a result of that breach.

The National Real Estate Post put up a video on this topic yesterday that I’d recommend taking a look at:

Your Realtor, Scott McDonald
Everything. Portland. Real Estate. Blog.

McDonald Group Real Estate Trends: It’s Still a Buyer’s Market in Portland

Wednesday, September 15th, 2010

The latest market report for the Portland Real Estate market shows a steady level of continued price reductions on homes for sale around the Portland Metro area. Back in August we talked here on the McDonald Group Real Estate blog about the Portland Business Journal article stating that thirty-two percent of Portland homes for sale in early summer experienced at least one price reduction, ranking  Portland No. 16 on Trulia’s list of price reductions in America’s 50 largest cities. Those numbers are sticking around.

A buyers market is one in which there are more homes available that there are people ready and willing to purchase them. With so many options to choose from in the Portland Real Estate market, buyers have the opportunity to pick up ridiculous deals on homes for sale in Portland that would otherwise be snapped up for much more. The buyers market means more options, lower prices, and higher competition amongst sellers, which makes homeowners and Portland real estate agents more willing to compromise and negotiate price reductions on all types of homes.

Signs of a buyers market in Portland are everywhere – this is the time to upsize or move into a more desirable area, as there are literally hundreds of gorgeous homes at rock bottom prices, including luxury foreclosures, high-end short-sales, bank-owned homes, and affordable listing prices on homes priced well below their previous market value. A balanced buyer/seller market has around 5 or 6 months of inventory. The Portland Real Estate market is currently just below 11 months. If you’re trying to sell a home in Portland, you’re going to need to price competitively and think about upgrades to make your house more attractive to the increasingly savvy buyers. The average sale price in the Portland Real Estate market is around $297,000 and homes for sale in Portland typically stay on the market for around 121 days. There’s really no good way to tell how long this buyers market will last, so be sure to take advantage of these record low prices, record low interest rates, and the amazing supply of affordable dream homes out there on the Portland Real Estate Market.

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Portland Real Estate Trends: Homeowners Slashing Prices

Thursday, August 12th, 2010

In a report published in the Portland Business Journal yesterday, we learned that thirty-two percent of Portland homes for sale, listed since the beginning of this month, experienced at least one price reduction. That ranked Portland No. 16 on the website Trulia’s list of price reductions in America’s 50 largest cities.

The average reduction for Portland homes was 9 percent, just under the national average of a 10 percent reduction on 25 percent of newly listed homes. With historically low interest rates, cutting-edge sustainability renovation rebates and low remodeling costs, and a high supply of beautiful homes for sale with great Walk Scores, this is a perfect time to grab a great deal.

As Scott McDonald of the McDonald Group said back in June, “We all know mortgage rates are low right now, but Freddie Mac really put a light on it by saying they are currently lower than they have been since they began tracking this data in 1971 and MSNBC.com states the last time they were this low was in the 1950′s. Yup, the economy stinks right now, but if you’re in a position that’s somewhat insulated from economic trends and are thinking of buying a home, now really is the time.”

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Coldwell Banker & iPhone App Use GPS to Find a Home Near You!

Friday, August 21st, 2009

Impressive! I wish they had something like this for garage sales!  New iPhone application allows you to do many things on your iPhone or Google Android… but the BEST feature I can see is having the GPS identify homes near you that are for sale and all the data you’d want to know about it is also at your fingertips…. way to go CB! (Coldwell Banker) 

So when will we be able to use these cool apps on our Windows Mobile Smartphones? And if never…. then when will the iPhone get an app for opening the damn blue lockboxes that us agents need to access to get in? Until Apple comes up with something that works with our MLS eKey we will stick with our Treo Pro!  -Kristie McD. Your Portland, Oregon Realtor!

Bruce Howard with Landover Mortgage: Daily Market Commentary – May 5th 2009

Tuesday, May 5th, 2009

landover_01In a widely circulated story, Barack Obama was apparently misquoted. Leading publications state that he said, “Wait a minute now, I didn’t authorize attacks on the Pirates, I authorized a tax on the pirates.”

GMAC Financial Services reported a first quarter 2009 net loss of $675 million, compared to a net loss of $589 million in the first quarter of 2008. They attributed the losses to “continued pressure in mortgage operations related to valuation adjustments on mortgage servicing assets, weaker credit performance on both auto and mortgage assets, mark-to-market adjustments on derivatives, and an original issue discount related to the fourth quarter debt exchange.” In similar fashion, Radian Group (the #2 mortgage insurer) posted a first-quarter loss of $217 million, hurt by unrealized loss on derivatives and continued increase in mortgage-insurance defaults.

Back to the markets! As long as the Federal Reserve Bank of New York keeps buying agency MBS’s, everything is ok, right? Let’s hope so, since they continue to be the dominant buyer by far. Last week they had “net purchases” of $23.1 billion, gross purchases of $59.6 billion. 97% of purchase activity is limited to 4.0% and 4.5% MBS’s, which typically encompass 4.25-5.125% mortgages – and only 7% of the securities are Ginnies comprised of FHA and VA loans.

Yesterday we had some good economic news, and the markets moved accordingly. Pending Home Sales rose 3.2%, and the Housing Affordability Index remained near record highs – certainly much higher than it was a year ago. Construction Spending was +.3% in March, which is the first increase in six months. Yes, most of it was increases in commercial and government projects, but we’ll take what we can get. Today we have the small issue of selling $35 billion in 3-yr Treasury notes, which may keep rates a little high in spite of the market being technically oversold. Currently the 3-yr yield is 1.39%, the 10-yr is 3.15%, and mortgage prices are better by .125-.250. Bernanke’s testimony had little impact on MBS prices.

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Home for Sale in Happy Valley Clackamas w/ Mother-in-Law Apartment

Wednesday, April 8th, 2009

front211540 SE Hidalgo Ct. Clackamas, OR 97015

(just across Sunnyside Road from Happy Valley)

$358,000  CLICK HERE FOR PROPERTY WEBSITE

This home is located in the Happy Valley, Clackamas area just outside Portland Oregon and is in immaculate condition.  The downstairs (with it’s own seperate entrance) is perfect as a mother-in-law suite or an apartment already having it’s own kitchenette, bath, access to back yard (as well as garage and side yard). Below are some of the features! I’ve never had such an amazingly well kept listing!  -Kristie McD.  Everything. Portland. Real Estate.
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Quick Follow Up to Zillow Post

Sunday, November 16th, 2008

Not sure if this is the real deal or a “bot” out looking for Zillow comments on blogs (probably the latter), but just thought I would post it here. I posted a blog entry on Zillow and it’s accuracy and use in our industry a few days ago and it was quickly commented on supposedly by Zillow’s COO Spencer Rascoff adding validity from the horses mouth as it were to my post:

Spencer Rascoff, COO of Zillow here. Thanks for the post.

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Portland Oregon Home Auction

Thursday, February 14th, 2008

This sounds like an interesting opportunity for prospective home buyers in the Portland area.

Buena Vista Custom Homes today announced that it will conduct a second auction of the company’s inventory of completed homes. 52 homes from nine of Buena Vista’s neighborhoods and 18 buildable lots from three different developments in the Portland metropolitan area will be auctioned on Saturday, March 8, 2008 at the Ambridge Event Center in Portland. The inventory is located throughout the Portland metro area including: Scappoose, Beaverton, Happy Valley, Sandy, and Hillsboro. The 18 buildable lots are located in the developments of Shadow Hills and Jackson Hills, both in Happy Valley along with Carson Crest in Beaverton.