Portland Tri County Real Estate Trends

http://post2web.trendgraphix.com/FactsAndTrends/Post2Web.aspx?FtId=98ebfffa-b907-43ec-b7c9-488ea5d5f8a1

Latest Home Sales for SW/NW Portland

The 10 Biggest Mistakes Sellers Make

Try this link for an excellent example of The Ten Biggest Mistakes Sellers Make. Many sellers skip the agents advice and always pay the price. Watch the video and be rewarded with a better price and shorter market time.

http://www.howcast.com/videos/29934-How-To-Avoid-the-10-Biggest-Mistakes-Home-Sellers-Make

Portland Real Estate Sales

Westside New and Resale Homes 400,000 to 649,000

 

Location : Portland West/Raleigh Hills

Number of Homes For Sale vs. Sold

Price Range: $400,000 – $699,999

SQFT Range: 0 – No Limit

Res Detached – All Property Statuses

 

 

	1 year			15 months
	Nov 07	Nov 08	% Change	Sep 07	Nov 08	% Change
For Sale	327	338	3.4%	384	338	-12%
Sold	39	21	-46.2%	46	21	-54.3%
Pended	26	18	-30.8%	49	18	-63.3%

 

Date	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08	11/08
For Sale	384	358	327	286	282	295	326	341	387	411	439	438	428	395	338
Sold	46	56	39	25	29	38	52	34	63	43	54	51	35	38	21
Mon of Inv. on Sold	8.3	6.4	8.4	11.4	9.7	7.8	6.3	10.0	6.1	9.6	8.1	8.6	12.2	10.4	16.1
Mon of Inv. on Pended	7.8	7.5	12.6	11.4	6.9	6.7	7.4	5.9	9.2	6.4	10.2	11.5	10.7	16.5	18.8
Avg. Act Price	547	549	547	546	546	549	553	551	555	549	553	551	549	548	548
Avg. Sld Price	522	526	538	540	552	527	531	548	541	528	510	528	502	503	545
Avg. Sq. Ft. Price	197.1	198.93	198.49	189.08	196.22	190.04	194.25	210.01	188.16	182.21	188.8	191.33	199.99	179.38	185.39
Sold/List Diff. %	98	97	97	96	96	97	97	98	97	97	96	96	96	97	94
Days On Market	57	49	58	75	86	86	83	66	64	61	49	65	74	65	79
Median Price	515	529	505	545	560	515	525	539	535	505	492	519	485	500	550

All reports presented are based on data supplied by the RMLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Westside Condos 400,000 to 649,999  New and Resales

 

Location : Portland West/Raleigh Hills

Number of Homes For Sale vs. Sold

Price Range: $400,000 – $699,999

SQFT Range: 0 – No Limit

Condo – All Property Statuses

 

 

	1 year			15 months
	Nov 07	Nov 08	% Change	Sep 07	Nov 08	% Change
For Sale	222	255	14.9%	261	255	-2.3%
Sold	23	10	-56.5%	14	10	-28.6%
Pended	23	10	-56.5%	15	10	-33.3%

 

Date	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08	11/08
For Sale	261	254	222	214	229	284	298	298	302	286	258	269	262	274	255
Sold	14	21	23	31	16	20	16	18	17	43	24	23	14	12	10
Mon of Inv. on Sold	18.6	12.1	9.7	6.9	14.3	14.2	18.6	16.6	17.8	6.7	10.8	11.7	18.7	22.8	25.5
Mon of Inv. on Pended	17.4	12.7	9.7	13.4	12.7	25.8	12.4	14.9	11.6	7.3	11.7	16.8	8.7	30.4	25.5
Avg. Act Price	543	543	549	545	542	538	540	537	539	545	542	539	534	535	533
Avg. Sld Price	528	504	507	518	548	527	497	513	515	498	526	530	510	509	502
Avg. Sq. Ft. Price	376.25	402.33	410.97	404.94	374.55	348.52	351.71	366.7	394.27	375.05	397.44	419.8	388.84	307.78	400.49
Sold/List Diff. %	98	97	99	98	98	97	99	98	97	97	96	97	95	93	96
Days On Market	72	62	57	116	95	140	112	236	145	98	148	154	129	90	198
Median Price	518	509	500	499	568	512	462	496	485	470	528	529	520	517	492

All reports presented are based on data supplied by the RMLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

The Total Portland Condo Market

The graph shows the combined current market for resale and new construction NW/SW condos. The one caveat is most developers do not list all available units in the RMLS. There are a few sales in new buildings that were presales and therefore also not in the numbers from RMLS.

Number of Homes For Sale vs. Sold

Price Range: $300,000 – No Limit

SQFT Range: 0 – No Limit

Condo – All Property Statuses

Date	8/07	9/07	10/07	11/07	12/07	1/08	2/08	3/08	4/08	5/08	6/08	7/08	8/08	9/08	10/08
For Sale	613	627	616	556	518	575	632	661	686	679	657	631	620	633	643
Sold	100	46	39	62	81	35	60	48	43	45	89	54	51	34	33
Mon of Inv. on Sold	6.1	13.6	15.8	9.0	6.4	16.4	10.5	13.8	16.0	15.1	7.4	11.7	12.2	18.6	19.5
Mon of Inv. on Pended	11.8	17.9	12.6	10.3	12.6	16.9	18.6	10.5	14.6	13.1	7.9	13.7	13.2	10.0	30.6
Avg. Act Price	641	647	657	685	690	689	678	680	665	666	654	660	657	655	657
Avg. Sld Price	485	504	540	597	593	684	704	648	615	504	574	545	592	582	609
Avg. Sq. Ft. Price	416.9	415.56	404.35	425.99	429.7	448.06	448.36	452.5	409.32	392.9	427.3	400.74	430.33	442.05	396.71
Sold/List Diff. %	100	98	96	100	99	98	99	99	94	97	98	96	96	95	95
Days On Market	76	73	83	72	100	103	107	113	161	124	103	112	128	128	145
Median Price	379	378	475	480	490	575	578	422	472	409	458	510	492	435	445

All reports presented are based on data supplied by the RMLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Questions All Sellers Should Ask Themselves

The following comments were made by Windermere agent Leanne Finlay. She is in the Kirkland – Yarrow Bay office.  She posted these comments in a blog on the Seattle Post- Intelligencer website.  

“Maybe the time has come to face the facts. Your house/condo isn’t selling, and you don’t really need to sell it, you just sort of thought it would be nice to sell it, the prices have been climbing, and gosh, honey, let’s get a new place. Normally, those are good reasons to want to sell.

Our market is different today than last year, or even six months ago. There has been a national mess not made in heaven, but made in some very big, very important, very stable banks and mortgage companies. They call this mess the “Subprime Mortgage Crisis”. Personally, I don’t understand how it got this big. I can’t quite wrap my mind around the idea that simple ‘greed’ created this national catastrophe, and that the brains behind the scenes at these major companies simply ignored economic reality: prices cannot escalate forever at the intensity of the past few years. A fifth grader should be able to understand this idea, how could so many sophisticated money managers miss this focus on basics?

It really doesn’t matter what I think, or how stupidly the executives behind these banking and mortgage giants behaved. We’ve got a big problem on our hands, Martha, and it isn’t going away easy. Add the high cost of gas/fuel and other uncertainties in our economy, and you’ve got a mixed bag of problems. Our area is strong, but not immune from the economy, and yesterday’s prices are just that: yesterday’s prices.

So, if you just sort of, maybe, kind of, want to sell ‘if you can get your price’ … give it up. Just take your home off the market, and enjoy it. Garden, paint, entertain, have some parties, remodel, maybe watch the kids or grandkids grow, enjoy life. Make more home sweet home memories, they truly are the important things in life!

But, maybe you have a more compelling reason to sell today: you need a bigger home, a smaller home, moving out of area, selling a rental home, handling an estate, can’t stand the yard, really want a yard, whatever the reason, you have decided that you do need to sell, and you need to sell now. Find, interview, and listen to the advice of the best agents you can find. Choose the one you feel will represent you well. After 30 days, reduce that asking price if the property isn’t selling. Did your agent ask you to make improvements, such as new carpet, paint or light fixtures? Clean up the yard? For Pete’s Sake, get those jobs done, and make your property shine.

Ask yourself this: What are the 3 most important words in real estate?
No gold star for you if you said Location, Location, Location.

Today the 3 most important words are often: Drop Your Price.

If there are 5 houses/condos very similar to yours for sale today, you need to be the best priced, best conditioned one to gain a buyer. Best is best, not second best and most certainly not third, or fourth or fifth.

If your home isn’t selling in a timely fashion, think of it this way: The buyers are telling you it is time for you to consider keeping your home, and enjoy it. So, either price your home competitively + and prep it to be the best condition you possibly can, or take it off the market, and enjoy it. Price + condition matter immensely.

The cost to move forward to a new home may be a smart move on your part, or it may be more comfortable for you to take a second look at the home you fell in love with the day you bought it, and plan to stay for awhile longer. Take a look at the market we have today, and analyze your strategy.”

New Statistics For NW & SW Portland Homes

Published Oct. 2008

Location : Portland West/Raleigh Hills

Number of Homes For Sale vs. Sold

Price Range: $400,000 – No Limit

SQFT Range: 0 – No Limit

Res Detached – Resale

 

 

All reports presented are based on data supplied by the RMLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

New Statistics For NW & SW Portland Condos

Published Oct. 2008

Location : Portland West/Raleigh Hills

Number of Homes For Sale vs. Sold

Price Range: $300,000 – No Limit

SQFT Range: 0 – No Limit

Condo – All Property Statuses

 

 

All reports presented are based on data supplied by the RMLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

New News on Bad Loans

Take a look at the peice from Reuters.  http://www.reuters.com/article/email/idUSN0933494620080911