February Residential Highlights
While there were fewer active and new listings on the market, sales activity in Metro Portland showed an improvement in both pending and closed sales in February 2012. Also notable in February was a decrease in inventory, down from 7.0 last month and the lowest February inventory since 2007. Closed Sales were up 17.5% in February 2012 compared to February 2011. Pending sales grew 32.5%, and new listings dropped 13.6%. Comparing the previous month of January 2012 with February 2012, closed sales grew from 1,224 to 1,262 (3.1%). Pending sales also increased from 1,823 to 2,109 (15.7%). New listings dropped from 2,613 to 2,492 (-4.6%). Sale Prices Average sale price for February 2012 rose 4.3% compared to February 2011. Median sale price fell 1.3%. Month to month, comparing January 2012 to February 2012, average sale price went up from $249,100 to $255,100 (2.4%) and the median sale price rose from $207,500 to $211,000 (1.7%). Year-to-Date Comparing January-February 2012 with the same period in 2011 shows closed sales increased 17.9%. Pending sales were up 26.3%, and new listings decreased by 15%. A comparison of year-to-date totals between 2012 and 2011 shows average sales price rose 1.8% and median sale price decreased 2.3%.
Data Provided by RMLS
Thinking of buying or selling???
Call Josh 503.522.4859
josh@joshburgess.com
www.joshburgess.com
Click here to find homes in Portland
Logo
Thursday, March 15, 2012
Monday, March 5, 2012
5 Tips to Avoid Buying a “Money Pit” Home
How can home buyers avoid buying a money pit? We've all heard of houses that look great to buyers, but then turn into costly mistakes after the deal closes. From sky-high utility bills to cheap wiring fixes and loose steps or leaking roofs, a new home purchase can become a nightmare once the new owner takes possession and begins to discover all the shortcuts taken by the previous owner to hide serious flaws. Here are a few tips to avoid buying a home that could drain the last of your financial resources.
Know what to look for. Unless you have substantial experience living in or working with older or damaged homes, do some online browsing or reading for information about things that can go wrong or be covered up when someone is selling or buying a home.
Consult home repair books and resources at the library, hardware store, or bookstore. Often you can browse these resources without having to buy them, or you can find partial information or reviews online. This can give you an idea, sometimes with photos, of what to look for or avoid when buying a home.
Watch TV programs like This Old House or Home Makeover for information about how homes get into bad shape, or what buyers should beware of.
Check with handy persons, contractors, builders, and repair companies by visiting their websites or calling to talk with someone about questions or concerns you have on a specific property.
Make sure your realtor is knowledgeable about home repair costs and possible cover-ups or potential serious damage to a property so he or she can advise you about the homes you will be visiting.
When you find a property you are serious about buying, schedule a home inspector appointment. A professional consultant will make a detailed inspection of your property, taking copious notes, and providing an extensive final report of any problems that need to be addressed. Some inspectors do not comment on surface issues like mold, lead paint, or radon, but they can usually direct you to those who can assist with these tests and inspections.
Ask the owner for documentation of any repairs, updates, additions, etc., that have been made to the property. These papers will confirm the property's known condition, and if you buy the house and find a problem, you may be able to contact the contractor with the paperwork (and any warranties) to have the problem addressed.
Find out if there are any liens on the property before making a purchase offer.
Buying a home is a serious responsibility that shouldn't be taken lightly. Take precautions to avoid purchasing a property that could cost you heavily in the future. About The Author: Kevin Hughes is an Idaho real estate agent helping buyers and sellers all over the state. If you’re searching for a great property in Idaho, check out Kevin’s Boise Real Estate site.
About the Author
http://www.buyidahorealestate.com/Boise-real-estate.php
Know what to look for. Unless you have substantial experience living in or working with older or damaged homes, do some online browsing or reading for information about things that can go wrong or be covered up when someone is selling or buying a home.
Consult home repair books and resources at the library, hardware store, or bookstore. Often you can browse these resources without having to buy them, or you can find partial information or reviews online. This can give you an idea, sometimes with photos, of what to look for or avoid when buying a home.
Watch TV programs like This Old House or Home Makeover for information about how homes get into bad shape, or what buyers should beware of.
Check with handy persons, contractors, builders, and repair companies by visiting their websites or calling to talk with someone about questions or concerns you have on a specific property.
Make sure your realtor is knowledgeable about home repair costs and possible cover-ups or potential serious damage to a property so he or she can advise you about the homes you will be visiting.
When you find a property you are serious about buying, schedule a home inspector appointment. A professional consultant will make a detailed inspection of your property, taking copious notes, and providing an extensive final report of any problems that need to be addressed. Some inspectors do not comment on surface issues like mold, lead paint, or radon, but they can usually direct you to those who can assist with these tests and inspections.
Ask the owner for documentation of any repairs, updates, additions, etc., that have been made to the property. These papers will confirm the property's known condition, and if you buy the house and find a problem, you may be able to contact the contractor with the paperwork (and any warranties) to have the problem addressed.
Find out if there are any liens on the property before making a purchase offer.
Buying a home is a serious responsibility that shouldn't be taken lightly. Take precautions to avoid purchasing a property that could cost you heavily in the future. About The Author: Kevin Hughes is an Idaho real estate agent helping buyers and sellers all over the state. If you’re searching for a great property in Idaho, check out Kevin’s Boise Real Estate site.
About the Author
http://www.buyidahorealestate.com/Boise-real-estate.php
Tuesday, February 21, 2012
The latest numbers for the Portland Metro
The year has started off on a positive note. Sales activity in the Portland metro area continued to show improvement in closed and pending sales when comparing this January to the same month a year ago. Closed sales experienced a 18.3% increase, posting the highest numbers for January since 2007. Pending sales saw growth of 22.4% in the same comparison. Market time also improved, decreasing from 160 to 136 days.
Latest Market Action-RMLS Data
Positive sign for the overall Portland Metro Market. Look for an increase in housing inventory this spring and summer which could lead to the housing market getting closer to normal levels.
There were 16.5% fewer newly listed residential properties. The combination of higher sales and fewer new listings helped to create a much lower listing inventory for this season than seen in the previous two years. At January’s rate of sales, the active listing count of 8,514 would be exhausted in only 7.0 months.
Comparing month-to-previous month, closed sales fell 24.1% (1,612 v. 1,224) when compared to December 2011, pending sales increased 26.3% (1,443 v. 1,823) and new listings climbed 53.7% (1,700 v. 2,613).
Sale Prices
The average sale price of $249,100 for January 2012 was virtually the same as the $248,900 posted in January 2011, while the median declined 3.5%.
Compared to December 2011, the average price fell 4.5% ($260,800 v. $249,100) and the median fell 4.2% ($216,600 v. $207,500).
Over the rolling twelve month calculation shown to the right, which compares February 2010-January 2011 with February 2011-January 2012, the median price dropped 6.9% and the average price declined 6.1%.
Sale Prices
The average sale price of $249,100 for January 2012 was virtually the same as the $248,900 posted in January 2011, while the median declined 3.5%.
Compared to December 2011, the average price fell 4.5% ($260,800 v. $249,100) and the median fell 4.2% ($216,600 v. $207,500).
Over the rolling twelve month calculation shown to the right, which compares February 2010-January 2011 with February 2011-January 2012, the median price dropped 6.9% and the average price declined 6.1%.
Latest Market Action-RMLS Data
Positive sign for the overall Portland Metro Market. Look for an increase in housing inventory this spring and summer which could lead to the housing market getting closer to normal levels.
Friday, January 20, 2012
The rain is here so keep the house up!
Check your gutters. Normal gutter cleaning keeps your home from getting too much water close to the foundation. If you have a basement this is extremely important.
Need a recommendation on a good gutter and roof cleaner? Call me 503.522.4859 and I will give you my guy that does my gutters.
Free foreclosure lists- Just email me josh@joshburgess.com
Need a recommendation on a good gutter and roof cleaner? Call me 503.522.4859 and I will give you my guy that does my gutters.
Free foreclosure lists- Just email me josh@joshburgess.com
Thursday, August 18, 2011
Welcome to Portland Oregon Real Estate
When looking to purchase, rent or sell a home, it is very important to speak to a trained professional. The market is ever changing and the professional that you choose should be able to keep you informed and educated on the processes that can occur when purchasing, renting or selling real estate.
If you're curious of what is happening in your neighborhood or a neighborhood you would like to move to, give me a call or email. I would love to put my years of experience to help you obtain your goals.
Call me anytime 503.522.4859 Josh Burgess Real Estate or josh@joshburgess.com
If you're curious of what is happening in your neighborhood or a neighborhood you would like to move to, give me a call or email. I would love to put my years of experience to help you obtain your goals.
Call me anytime 503.522.4859 Josh Burgess Real Estate or josh@joshburgess.com
Subscribe to:
Posts (Atom)