Ask Bill

Quick Stats...

Fri June 25, 2010, 6:19 pm

From my Chicago Tile friends, who sift this from the latest RMLS reports.

PORTLAND METRO

Single Family Residential

53% were three-bedroom, avg price $251,737
45% closed in 30 days or less
18% closed in 121 days or more
46% of buyers used conventional financing/32% used FHA
Closings were up from last month by 2.9%
Total dollar volume decreased by $118,000 from April

Condominiums

10% sold were in the $200,000-$249900 range, avg price $244,721
21% closed in 121 days or more
40% closed in 30 days or less
35% of buyers used conventional financing, 18% used FHA
Closings were up 17.5%
Volume increased more than $13 million from April

WASHINGTON COUNTY

Single Family Residential

58% were three bedrooms, avg. price $241,505
42% closed in 30 days or less
17$ closed in 121 days or more
50% of buyers used conventionalfinancing, 30% used FHA
Closings decreased by about 1%
Total volume decreased by about $10 million from April

Condominiums

9% were in the $140,000-$159,999 range, avg.price $143,939
40% closed in 30 days or less
21% closed in 121 days or more
33% of buyers used conventional financing, 37% FHA
Closings incresed neaarly 18%
Dollar volume increased by $1.5 million

Real Estate News...

Fri June 11, 2010, 5:54 pm

There's so much out there that I find I'm having trouble keeping up so many blogs. Rather than do it all twice, go to Terradigm's website and the Mortgage Rescue Cafe's.

Random Thoughts...

Thu May 13, 2010, 4:02 pm

If you want to have some fun, check out the Footprint Network's website. See how many planets you need and challenge your friends! I wrote about sustainability at Terradigm, and it will be a short series.

Orenco Station has not seen as many foreclosures as other neighborhoods, but if statistics hold, a lot of owners are upside down on their mortgages. If it's a burden, early planning will help immensely. See some ideas at the Mortgage Rescue Cafe.

But most of all, go out and enjoy this lovely weather!

Portland area Real Estate Values...

Tue April 27, 2010, 8:02 pm

Zillow's take on market values always differs from the RMLS' a bit. Click this link and find out what Zillow is saying about Portland area home prices through February 2010.

Portland area Real Estate Values...

Tue April 27, 2010, 8:02 pm

Zillow's take on market values always differs from the RMLS' a bit. Click this link and find out what Zillow is saying about Portland area home prices through February 2010.

The True Cause of the Meltdown...

Thu April 22, 2010, 1:59 pm

I do not recall a time in my life, ever, when the financial markets dominated the news. Terradigm Real Estate has a posting on why, and I encourage everyone to have a look.

Updated Statistics...

Mon April 19, 2010, 12:25 pm

For the record--a lot of Orenco Station-area homes changed hands in the last month or so, including (especially) some that had been on the market a really long time. IMHO, the impending end of the federal tax credit spurred a lot of buyer activity, and we're already feeling something of a slowdown as April 30 approaches.

People buying a home must be under contract by April 30 and close escrow by June 30 to be eligible for the credit. For those buying (and really, selling) a home--be sure those contingencies are gone. IRS rules say "non-contingent contract).

Statistics (from Chicago Title and RMLS):

For single family detached homes: Average price was $249,047. That's quite a drop, but keep in mind that the numbers are weighted to first-time buyers, who buy lower-priced homes. For financing, 44% of buyers used conventional financing and 32% used FHA.

Condos: Average price, $216,910. And 37% of buyers used conventional financing, with 19% using FHA. Keep in mind that most condo projects are not FHA approved.

Short sales and bank-owned properties have a negative impact on pricing.

Sustainability at Orenco Station...

Wed April 14, 2010, 11:30 am

I have to say, I was thrilled at the turnout for the Neighborhood Empowerment Program at Orenco Station last Saturday. Twelve or so owners had RSVP'd, and another two or three said theyd' come. But twenty-six people showed up to learn about solar heating and voltaic power from ImaginEnergy, and the significant discounts available for group participation.

This is just the beginning, too.

New Neighbors...

Fri April 2, 2010, 6:28 pm

Orenco Station proper has seen several homes turn over lately. Welcome to all new neighbors, and to old ones--did you see that the Cypriot Palace finally sold?

Orenco Gardens is getting hammered with short sales, foreclosure notices and REO properties. Orenco Station, Club 1201 and Stonewater haven't escaped, either. Interested parties may wish to read the Mortgage Rescue Cafe's posts on the new HAFA program which, unlike the loan modification effort, sounds like it really might help people.

Last month, I kind of thought prices were stabilizing. Now, I'm less sure. Read this post at Terradigm on V-shaped recessions and recoveries.

My Daughter...

Wed March 24, 2010, 11:15 pm

I have to pull away from Portland real estate every so after and do something else. Today, can I direct everyone to my daughter's blog? She's an ex-pat in Istanbul, and 've written of her in the past. Fair warning: she can be R-rated at times (language).

Istanbul's Stranger will give you insight into things Middle Eastern. Istanbul is fairly European, but the rest of the country is not. Her terms: MIL means mother-in -law (hers), BE means Engin, her husband, and LE means Ender, her three-year-old son (and our only grandson).

If you want to read about Portland real estate, buying a home or selling a home, this post isn't the place to go. :)