Building permits hit a seasonally adjusted annual rate of 812,000 in July, the best level since August 2008. Permits were up 6.8% from June and 29.5% from July 2011.
For more on this and today’s financial reports click here: http://money.msn.com/market-news/post.aspx?post=274e2738-6452-4924-b3f6-84c3e2d9e563
Be sure to “like” us on facebook and be on the lookout for a special give away coming next month!
We are honored and proud to partner with Community Vision, Inc. This organization has provided us with incredibly reliable and conscientious workers over the past few years. Most recently, we’ve been working with Chris who has proven to be an important part of our team! Chris helps us out by running important errands such as puting up our Sold stickers, delivering directional signs and flyers and many other important tasks for us each week. Check out this inspiring video featuring Chris and our team:
Here’s a bit more about what Community Vision does:
“Community Vision, Inc. works to make Oregon a place where people with developmental disabilities can live, work, and thrive in whatever communities they choose. We offer a network of services- including supported living, independent housing and homeownership, and employment services- to make this possible.
All of our programs are grounded in the belief that people do well when they are recognized as individuals, not the sum of their diagnoses. Staff work one-on-one with participants to identify personal strengths, challenges, and goals. Individualized support allows each participant to move toward those goals at his or her own pace. Our goal is to help them become engaged and productive in their own communities, access meaningful equitable employment and financial security and enjoy to make basic choices about their lives.”
For more information on Community Vision and how you can get involved please visit their website at www.cvision.org.
North Portland’s home prices are rising at one of the highest rates in the Metro area- which is great news for Sellers! According to the June home-sale report from the Regional Multiple Listing Service, the average sales price in June was $247,700 which is up 6.6 percent over the last three months when compared with the same period a year ago.
So what’s driving prices up in this area? The short answer is a lack of inventory. Last year in June, 386 homes were for sale, whereas this year only 295 homes are listed in North Portland. The number of accepted offers has fallen 15.1 percent from a year earlier- another indicator of the low inventory. Sellers are enjoying shorter days on the market as well. On average, homes sold in June spent just 84 days on the market, 39 days fewer than a year earlier.
Experts say that at the last three month’s sales rate, it would take only 3.3 months to sell every home currently on the market- six months is considered a balanced market. Anything less than six months is considered a “Seller’s Market.”
Have you been considering selling your home? All signs point to NOW as being the time to list. Contact us today to learn how our proven marketing system and expert negotiating will get your home sold fast and for top dollar. email@example.com
Things continue to brighten in Portland-Metro’s real estate market. Comparing real estate activity from May of 2011 with May of 2012 almost all areas show improvement! Of importance, accepted offers rose 16.4% which represents the highest number of pending sales since 2007. Closed sales increased 20.4% and unsold inventory is also the lowest it has been since 2007. There is also good news on the home sales price measurements! The median sales price rose 6.6% when compared with May of last year and the average sales price has also risen 7.2%. This is a great time to buy or sell a home! Contact us today to learn how you can get in on the action! firstname.lastname@example.org or 503.893.2022 . *Statistics from RMLS
A spring growth spurt continues to bloom in the housing market.
Existing-home sales rose 3.4 percent from March to April with tight supplies in markets like Miami helping to seed the rejuvenation, according to National Association of Realtors data released today.
Year over year, home sales were 10 percent higher in April while median home prices touched $177,400, a 10.1 percent spike from April 2011, the NAR said.
Of course, huge chunks of the housing market will appear sunnier when compared to the soggy early months of 2011 when, in cities like Miami, “things were pretty rotten,” said Rich Green, an agent with Coldwell Banker Residential Real Estate in Coral Gables, Fla.
“But, yeah, April was a pretty strong month here,” Green said. In Miami, the median sales price of existing homes reached $182,000 during the first quarter of 2012 compared to $166,000 during the same quarter last year. “The activity I’m getting off of ‘sign calls’ alone has maybe quadrupled. I’ve been doing this for 39 years so I could call that a good sign. I’m cautiously optimistic.”
As is Joel Naroff, a housing-market expert who heads Naroff Economic Advisors in Holland, Pa. Again, this is all about perspective –and how far sales still must climb to regain their full, former vigor, he said. Existing homes were sold at an annual rate of 4.6 million in April, compared with 4.2 million in April 2011.
“That level is still way below where we need to have a healthy housing market,” Naroff said. “But it’s indicating a steady improvement. And the improvement now seems to be set — it doesn’t look like it’s questionable anymore.”
Naroff said as median home prices creep higher, that will start to ignite the big question for scores of buyers: Is this the right time to buy? As prices begin to firm and that information filters down to buyers, the “fence-sitters” will be enticed to make offers as well, especially with mortgage rates hovering near record lows.
“So you do have a situation where with improving sales and improving prices, the market is turning,” Naroff added.
Local rough patches remain scattered throughout the country. Stubborn price declines continue to dog sellers in places like Kingston, N.Y. (where median sales prices of existing homes fell 22 percent in the first quarter of 2012 compared to that quarter in 2011), Mobile, Ala. (down 14.7 percent), Jacksonville, Fla. (down 10.7 percent) and Atlanta (down 12 percent), according to NAR data.
A large overhang of homes in foreclosure or in danger of foreclosure are still sandbagging the market in many cities. Foreclosures and short sales (homes sold for less than what is owed on the owner’s mortgage) comprised 28 percent of the April sales (17 percent were foreclosures and 11 percent were short sales). But that was down from 29 percent in March and 37 percent in April 2011, said the NAR, where analysts also contend that a “diminishing share of foreclosed property sales is helping home values.”
NAR cited Seattle, Phoenix, Washington, D.C., and Orange County, Calif., as places where tight housing inventories are leading to “multiple biddings and escalating price conditions.” We’re seeing first hand effects of low inventory in Portland Metro as well, where our buyers who have sold homes simply can not find homes for sale that meet their needs.
Mortgage rates have recently hit record lows, with the 30-year benchmark under 3.8 percent.
For more information on the specific real estate activity in your neighborhood, please contact Craig today! email@example.com
Contributions from Bill Briggs, MSNBC
We are so proud to be working at Keller Williams where we get to work with and alongside the very best in the country. Whether learning about the latest technology, the best new marketing strategies or the most recent research on national market trends, working at Keller WIlliams has made us even better at what we do.
Keller Williams Realty, Inc. announced today it has been recognized as one of America’s Top 10 Workplaces, according to the first annual National Top Workplaces list compiled by Workplace Dynamics.
“Our culture is our strongest asset and the reason that so many people want to be with us,” Mary Tennant, COO of Keller Williams Realty shares. “Imagine what it would be like to work in a culture every day with people that you feel love, kindness, caring and humor with. Imagine working in an environment where there is a passion for every single person to succeed at the highest level.”
“If this award proves anything, it’s that we only succeed when our associates do,” added Mark Willis, CEO. “We are proud to be in business with the best who are lifting us up each day and proud to be fulfilling our mission of building careers worth having, businesses worth owning and lives worth living.”
The list of National Top Workplaces is based solely on employee feedback surveyed from 805 companies of more than 1,000 employees, which included over half a million survey responses. According to survey results, Keller Williams’ ranking was based on its overall culture and high levels of organizational health including training, benefits, compensation, and work-life balance. “Put simply, the most successful companies appear to be the ones that employees believe in,” said Doug Claffey, CEO at WorkplaceDynamics.
For more information and the full list of the Workplace Dynamics Nation’s Top Workplaces, please visit http://topworkplaces.com/stories/americas-top10-workplaces.php
We’ve just listed a prime piece of real estate on Springville Road just off Skyline Blvd in Northwest Portland/ Washington County. This beautiful 84-acre parcel is a gem- it sits just outside the urban growth boundary, offering the beauty and serenity of the country, AND its killer location makes for an easy commute either west to Nike, Intel, and Hillsboro high-tech or head east over the hill and you’re in downtown Portland. For more information contact Craig today at firstname.lastname@example.org.
THINKING OF SELLING? NOW MAY BE THE TIME!
Have you been considering selling your house, but been hesitant because of the Portland Metro market conditions? We urge you to reconsider- since the start of the year we are seeing signs of real improvement in the Portland, Beaverton and Tigard/ Tualatin areas- both statistically and on the ground with our own clients.
So what’s the good news?
Home Prices Rising For the first time in years, there are indications that Portland area home prices may actually be going up. Average sales prices for last month in the Portland area rose 4.3% compared to 2011. Year to date comparison totals between 2011 and 2012 show average sales price rose 1.8%. While these are modest gains, they are gains nonetheless. Certain neighborhoods and areas such as inner-Northeast and Southeast Portland are showing even higher gains.
Less Competition A big advantage to listing your home now, is that you’ll have significantly less competition. The inventory of homes for sale in Beaverton, Portland and surrounding areas is at a 5-6 year low. The RMLS calculates this inventory based on months- dividing the number of active listings by the number of closed sales. In February of 2010 inventory was at 12.9 months, meaning that it would take that many months for the existing number of homes for sale to sell and close. In February of 2012 inventory was only at 6.5 months. That is a more than 50% drop in inventory! This means buyers have half as many homes from which to choose- clearly good news for sellers! Of our last 8 new listings in March, 7 were in escrow in less than 5 days from hitting the market- some even received multiple offers! We haven’t seen this kind of action and urgency from buyers in years. Speaking of urgency, sellers should take note- we expect this to be temporary. As spring and summer approaches, the inventory of homes for sale in Portland always goes up.
Other positive news in the Portland Metro market is that pending sales rose 32.5% and closed sales were up 17.5% in February when compared to 2011. Homes in Portland, Beaverton, Tigard, Lake Oswego and Clackamas are selling! Contact us today if you’d like to learn more about your neighborhood market conditions or to discuss selling your home.
Oregon’s largest home builder, Arbor Custom Homes has hired the Craig Reger Group to sell their beautiful new construction neighborhoods- Ridgecrest and Lincoln Heights in Happy Valley. We are honored to have been hired and we are excited to work with such a quality local builder. We’re selling these home fast- in fact we’ve already sold 3!
Learn more about these new neighborhoods:
Tucked amongst trees with serenity abound, you’ll find Lincoln Heights by Arbor Custom Homes. Only 55 home sites to choose from with most sites backing to beautiful trees and wetlands. Whether you are looking for scenery or the hustle and bustle of nearby amenities, Lincoln Heights offers both! Located only minutes from vibrant restaurants and shopping at Clackamas Town Center, with the conveniences of everyday life even closer, Lincoln Heights has the amenities nearby to suit all of your needs. Enjoy within minutes, the abundance of wildlife and walking trails at Mt Talbert Nature Park. Spend more time at home with a more efficient commute on I-205 or MAX light rail.
Surrounded by picturesque views of the south valley and Mt. Hood with conveniences abound, lies Ridgecrest by Arbor Custom Homes. These 10,000 square foot homesites are located in the outstanding North Clackamas School District, close to shopping and minutes from highway 205. Ridgecrest by Arbor Custom Homes has location, prestige and community all wrapped into one! New Seasons Market, Peet’s Coffee and Premier Fitness are just a few of the amenities within walking distance and Clackamas Town Center is just a short drive away. The beautiful views from Ridgecrest by Arbor Custom Homes will be a perfect way for your family to start each day.
- Visit us each weekend on site or call our Buyer’s Specialist, Megan to schedule a private tour anytime 503.957.8303.
- Hwy 205 to Sunnyside Rd exit.
- East on Sunnyside Rd.
- Left on SE 152nd Dr.
- Left on SE Badger Creek Rd.
- Left on SE 147th Ave.
- Right on SE Mountain Ridge Ave.