Tag: ARES

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Feb. 20, 2011 ~ Lake Oswego Open Houses

There are 26 Open Houses on tour Sunday in Lake Oswego!  Dianne will be holding my listing at (Link:)  979 Devon Lane Open from 12-2.  Stop by and say hello!  While you’re there, check out the sweeping valley & Mt Hood/Mt Adams views, and stroll out on the master deck to experience that cozy getaway space complete with fantastic hot tub!

Here are the houses being held Open according to RMLS:

Address L/Price # Beds # Baths Total SF Prop Type Open
4971 SUNTREE LN $289,900 3 2.1 1911 DETACHD 1-3PM
19250 MAREE CT $319,000 3 2.1 1519 DETACHd 1-4PM
14418 ORCHARD SPRINGS RD $358,900 3 2.1 1710 DETACHD 1-3PM
151 DEL PRADO ST $399,000 4 2.1 2447 DETACHD 12:30-2:30PM
18929 INDIAN SPRINGS RD $435,000 4 3 3380 DETACHD 2-4PM
785 5TH ST $445,000 3 2 2112 DETACHD 1-4PM
979 DEVON LN $449,900 4 3.1 2162 DETACHd 12-2PM
15 CHURCHILL DOWNS $479,900 3 2 2014 DETACHD 1-3PM
19443 KOKANEE CT $494,000 4 2.1 2807 DETACHD 12-4PM
17790 WESTVIEW DR $495,000 4 3 3361 DETACHD 1-3PM
17360 HUNTER CT $497,500 4 2.1 3322 DETACHD 1:30-3:30
1119 OAK ST $499,500 4 2.1 2123 DETACHd 2-4PM
19319 SW DOGWOOD CT $499,900 4 2.1 3105 DETACHD 10-4Pm
1217 TYNDALL CT $599,000 4 4 5181 DETACHD 2-4Pm
9 ABELARD ST $599,000 5 3.1 3609 DETACHD 10-3PM
5088 Woodcrest LN $599,900 4 2.1 3063 DETACHD 1-4PM
17997 Braeden CT $644,859 3 2.1 2984 DETACHd 1-3PM12-2PM
5511 FIELDSTONE CT $658,950 4 2.1 3037 DETACHD 12-2PM
5533 FIELDSTONE CT $668,950 4 2.1 3115 DETACHD 12-2PM
1015 SOUTHSHORE BLVD $695,000 4 3 3522 DETACHD 1-3PM
17884 KELOK RD $695,000 5 3.1 4124 DETACHD 2-4PM
17896 KELOK RD $695,000 6 5.1 4323 DETACHd 2-4PM
15622 FIELDSTONE DR $698,950 3 2.1 3113 DETACHD 12-2PM
17301 CANAL CIR $749,000 3 2.1 1812 DETACHD 3-5PM
18209 SIENA DR $1,058,000 5 3.1 3839 DETACHD 2:30-4:30PM
18222 SIENA DR $1,189,000 4 3.1 3998 DETACHD 2:30-4:30PM
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News & Notes

Bill Korach, Superintendent of Lake Oswego Schools since 1987;   respected & beloved administrator known for arriving at the office at around 6:15AM and not leaving till the last meeting of the evening, announced his retirement. There is a catch however… he is planning to continue working in his position for the next year, and very possibly beyond.. just one stipulation: no pay. That’s right, he is planning to donate his time, expertise and energies to the school district with the aim of saving teachers’ jobs. At a time when the treasured Lake Oswego school system is, like most all of them these days, looking at making cuts, re-working and restructuring the schools themselves, this is truly a novel and selfless act that will have a real bottom-line effect. Hats off to Bill Korach! Here’s an article for more info if you’re interested: Oregon Live Article (photo from Lake Oswego Review)

The three leading causes of traffic crash injuries are:  Safety Restraint Use, Speed and Impaired Drivers.  Lake Oswego Police are conducting their “3 Flags Safety Campaign until February 20th.  To learn more, check out this article: 3 Flags Safety Campaign

Commercial Food Waste Program – Allied Waste which services Lake Oswego residents, is conducting a special program reducing the amount of waste going into the landfills and sewer system.  The basic gist of this program is that customers are able to separate their garbage into waste & general garbage so that the waste can be composted.  If you are interested in participating or learning more, you may call: 503 636 3011

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Market Activity for Feb. 7-13, 2011

Last Week Lake Oswego saw 15 New properties enter the market, 6 move to Pending status, and 3 Closed sales.

See below for further details according to RMLS:

NEWLY LISTED (Feb 7-13, 2011)

Address Type Price Sq FT BR Baths
88 Cervantes Condo $129,900 912 2 1.5
45 Eagle Crest Dr #308 Condo $169,000 1124 2 2
16250 Pacific Hwy #44 Condo $275,000 2 2 1305
14418 Orchard Springs Rd Detached $358,900 3 2.5 1710
14402 Orchard Springs Rd Detached $399,900 5 3 2175
29 Walking Woods Dr Detached $410,000 3 2 2311
785 5th St Detached $445,000 3 2 2112
12751 Sierra Vista Dr Detached $469,900 3 2 2097
17764 Kelok Rd Detached $542,000 4 3 2729
5088 Woodcrest Ln Detached $599,900 4 2.5 3056
5463 Denton Dr Detached $739,000 4 2.5 3553
5811 Stewart Glenn Ct Detached $749,000 4 2.5 3721
13090 Knaus Rd Detached $769,900 4 3.5 3504
17833 Marylcreek Dr Detached $775,000 5 4.5 5495
14066 Goodall Rd Detached $1,050,000 4 3.5 4220

PENDING SALES (Feb 7-13, 2011)

Address Type Price Sq Ft BR Baths CDOM
103 3rd St Condo $259,000 1006 2 2 288
4821 Dawn Ave Detached $324,999 1955 3 2 50
4703 Cambridge Ct Attached $412,000 2914 3 2.5 438
5157 Denton Dr Detached $659,900 3087 4 2.5 174
17424 Bryant Rd Detached $699,000 3278 4 4 1701
1309 Horseshoe Curve Detached $849,000 3087 4 3 58

SOLD (Feb 7-13, 2011)

Address Orig. Price Sold Price Type Sq Ft CDOM
790 Boca Ratan Dr $269,900 $230,000 Detached 2112 284
691 G Ave $620,000 $620,000 Detached 2789 24
15459 Village Dr $695,000 $625,000 Detached 3059 88

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

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Open Houses for February 13, 2011

There are 35 homes planned to be held open on February 13th, according to the RMLS. This is a large assortment of homes: large and small and in most every price range. What a nice Valentine’s Day it would be to find your beautiful new home.

Address Price BR Baths Open
221 Cervantes $129,000 2 1.5 1 to 3
5530 Bonita Rd $249,799 3 1.5 1 to 3
53 Oriole $269,000 3 2.5 12 to 3
446 5th St $285,000 2 1.5 12 to 2
5204 Rosewood St $344,900 3 2.5 12:30 to 2:30
18715 Indian Creek Dr $353,900 3 2.5 1 to 3
14418 Orchard Springs Rd $358,900 3 2.5 1 to 3
880 Boca Ratan Dr $375,000 5 3 1 to 4
14251 Camden Ln $380,000 3 2.5 1 to 3
775 Boca Ratan Dr $429,840 4 3.5 1 to 3
18700 Wood Duck Way $429,900 4 2 1 to 3
1012 Andrews Rd $439,000 3 2 2 to 4
4750 Auburn Ln $439,900 3 3.5 1 to 4
6 Churchill Downs $439,950 5 3.5 1 to 3
760 Timberline Dr $459,000 5 3 1 to 3
12 Scarborough Dr $479,900 4 2.5 1:30 to 4
19319 SW Dogwood Ct $499,900 4 2.5 10 to 4
19263 Megly Ct $549,900 5 3 10 to 4
9 Abelard St $599,000 5 3.5 12 ro 3
1217 Tyndall Ct $599,000 4 4 2 to 4
14232 Meadow Grass St $599,900 4 3 2 to 4
13265 Fox Run $639,000 4 2.5+.5 1 to 3
5 Cellini Ct $649,900 5 3.5 1 to 3
5511 Fieldstone Ct $668,950 4 2.5 2 to 4
1930 Indian Trail $669,000 3 3 1 to 3
15622 Fieldstone Dr $698,950 3 2.5 2 to 4
1100 Upper Devon Ln $699,000 4 3.5 1 to 3
5320 Southwood Dr $728,000 4 3 3 to 5
17110 Lowenberg Terrace $775,000 4 2.5 1 to 3
2358 Summit Dr $879,950 3 2.5 1 to 4
533 Weidman Ct $924,900 4 3.5 1 to 3
18209 Siena Dr $1,058,000 5 3.5 1 to 3
18222 Siena Dr $1,189,000 4 3.5 1 to 3
18024 Skyland Circle $1,595,000 4 3.5+.5 12 to 3
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Looking for Red Flags

When I am showing houses, there are a few specific items I watch for. I guess I think of them as red flags: things that create an immediate concern if I see them.

From the curb:
The condition of the roof. Does the roof lay flat or are there waves of high and low areas? This is a sign that the roof is installed over additional layers of roofing material. When the the time comes to replace the roof, will it require a total tear off? What is the condition of the shingles? If they are wood, are they lifting and curling? On a wood roof, this might simply be a sign that the shingles need to be treated with preservative. More concerning on a wood roof is if the shingles are split and broken. On a composition roof, are there missing shingles? Is the material obviously deteriorating?
What is the siding made of? Specifically I am looking for composite siding that was widely used in the 1990’s and manufactured by various companies but commonly referred to as LP siding. I am familiar with the specific knot pattern used in the pressing of the product to look like wood. The other siding I am looking for is EIFS. This is a pre-manufactured stucco product that was widely used about the same time as LP, and usually installed incorrectly. Either one of these siding products immediately tells me that if the house is a candidate, we need to inspect the siding carefully.
Going inside, the electrical panel There are several brands of electrical panels with poor reputations. The most widely used one, and one that I see lots of, were manufactured by Federal Pacific. I have been told, in writing by a licensed electrician, that Federal Pacific panels have been unfairly targeted for failure by over testing and that if all brands of panels were scrutinized to such a degree they too would be found faulty. Having heard this, I have seen documentation that shows that Federal Pacific panels have a history of failure. This red flag, like the others, tells me we need to carefully inspect and investigate.
Older Homes Is there now or has there ever been oil heat? This implies an oil storage tank. This must be addressed prior to purchase. Are there single-pane windows? What insulation has been added to the home? Both issues are going to affect the energy efficiency of the house. Some older homes have been completely updated making these concerns a non-issue. Others have not. It could be a cost consideration in the purchase and livability of the house.
Drainage issues Especially in Oregon, at this time of year, it’s pretty easy to see if the yard has standing water or erosion on an embankment. Generally, drainage issues are highly correctable. It’s good to recognize them so that the right questions can be asked and inspections planned.
Home Owner’s AssociationsWhen buying a property in a Home Owner’s Association (and this is more than just condos and townhouses, many newer subdivisions have HOAs) you are buying into the association and need to be clear about what that means and how it will affect you. Make sure to understand the rules and regulations as well as the costs/budget of the HOA. As part of the home inspection process, a property within an HOA will have inspection considerations that are specific to the HOA including review of the rules and regulations, review of the budget and reserves, as well as review of the Conditions, Covenants, and Restrictions. I also recommend getting a copy of the HOA meeting notes for the previous 12 months. If the HOA has problems, the members of the HOA will be talking about them at the regular meetings.

I am by no means an expert on the items on this list. But I do know enough that when I see an issue, I want to bring in an expert to give their opinion about problems or corrections. And really, the inspection process begins the first time you see a house. Having a few key items to quickly review as you look at houses should make the process easier.

So that’s it. My handy little list of red flags.
Dianne

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Open Houses for Sunday, 1/30/11

There are 35 scheduled open houses this Sunday, including Linda’s beautiful listing at 979 Devon Lane. I will be hosting this open from 11 am to 2pm. This is a tremendous house with panoramic views of Mt. Hood and Portland. Priced at $449,900, it has4 bedrooms and 3 1/2 baths. This is a contemporary home with a separate apartment for guests, in-laws, or working from home. It has nice upgrades such as SubZero, hardwood floors, and gas appliances. Please follow my bright-yellow signs in from Cornell. I’d love to meet you!

Address Type Price BR Baths Open
1400 Bonniebrae Dr Attached $169,500 2 1 1 to 3
5061 Foothills Dr G Condo $180,000 2 2 1 to 3
5055 Foothills Dr C Condo $239,000 2 2 1 to 4
5530 Bonita Rd Detached $279,900 3 1.5 1 to 3
446 5th St Attached $295,000 2 1.5 1 to 3
14402 Sherbrook Pl Detached $349,000 3 2.5 1 to 3
18715 Indian Creek Dr Detached $353,900 3 2 1 to 3
14 Hillshire Dr Detached $375,000 3 1.5 1 to 3
1677 Laurel St Detached $425,000 4 3.5 12 to 3
775 Boca Ratan Dr Detached $439,990 4 3.5 1 to 3
17791 Hill Way Detached $449,000 4 2.5 12 to 2
979 Devon Ln Detached $449,900 4 3.5 11 to 2
12 Scarborough Dr Detached $479,900 4 2.5 12 to 2
17645 Oak Meadow Ln Detached $510,000 4 2.5 1 to 4
2626 Park Rd Detached $519,000 4 3 1 to 3
17981 Meadowlark Ln Detached $558,377 3 2.5 11 to 4
4869 Sage Hen Way Detached $594,900 5 2.5 1 to 3
1217 Tyndall Ct Detached $599,000 4 4 1 to 4
133 Furnace St #20 Attached $629,000 2 2.5 1 to 3
13265 Fox Run Detached $639,000 4 2.5+.5 1 to 3
2469 Marylhaven Pl Detached $649,000 4 3.5+.5 12 to 3
5511 Fieldstone Ct Detached $687,950 4 2.5 2:30 to 4:30
5533 Fieldstone Ct Detached $688,950 4 2.5 2:30 to 4:30
17884 Kelok Rd Detached $695,000 5 3.5 2 to 4
17896 Kelok Rd Detached $695,000 6 5.5 2 to 4
1930 Indian Trail Detached $699,000 3 3 1 to 3
15622 Fieldstone Dr Detached $718,950 2.5 2.5 2:30 to 4:30
5320 Southwood Dr Detached $748,000 4 3 12:30 to 2:30
17301 Canal Circle Detached $749,000 3 2.5 3 to 5
16686 Maple Circle Detached $819,000 4 3.5+.5 1 to 3
2358 Summit Dr Detached $879,950 3 2.5 1 to 4
18209 Siena Dr Detached $1,058,000 5 3.5 12 to 2
18222 Siena Dr Detached $1,189,000 4 3.5 12 to 2
17282 Lake Haven Dr Detached $1,299,000 4 2.5 1 to 4
1104 Forest Meadows Way Detached $1,495,000 4 3.5 1 to 4
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The Pros and Cons of Corner Properties

In the many years I have been working with buyers, I have only run into a few who would not consider buying a house on a corner lot. So this is not a heated controversery. It is, however, something to think about in your home search. Here is simple a comparison of the pros and the cons of buying a home on a corner lot:

The Pros
* Corner lots are often bigger because they not only include a yard, but the large side yard of the adjacent street.

* Corner lots are more private because they have one less neighbor immediately next door.

* Corner lots can allow unusual landscaping such as installing a circular driveway.

* Corner lots can allow easier access to the back yard for storing a RV or a trailer behind a fence.

* Corner lots can allow more sunshine into the house itself because there are fewer homes closeby that potentially can cast shadows.

* Corner lots allow you to have more on-street parking adjacent to your home.

Here are the Cons

* Corner lots mean more landscape maintenance that is visable from the street.

* Corner lots are potentially create a smaller back yard if the lot is mostly outfront and to the side of the house.

* Corner lots can deminish your privacy in your back yard if there is visability from the adjacent street or if the lot is small enough that people out on the sidewalk can hear you in your back yard.

* In the case of sewer improvements or sidewalk maintenance where local authorities assess repairs based upon the per foot of street frontage, corner lots can be more expensive to own.

* Corner lots can potential have move light exposure at night from street lights or head lights.

I think that for every buyer who dislikes a corner lot there is a buyer who prefers one. So don’t let the corner lot issue be your primary criteria when buying a home, unless you have exceptionally strong opions about the pros and cons above. I personally live on a corner lot and I LOVE it. My lot has large hedges on the two sides with a circular drive between the two streets. I pull into my driveway and I feel like I’ve come home to my own private park. Ray Hartshome, a partner with Chicago’s Hartshome Plunkard Architecture, calls a corner home “a rare home”. He says that a corner home is “a rare home that’s distinctive in a world that makes distinctive homes more valuable”. Perhaps that statement goes a bit overboard, but I do like the sentiment.

Dianne

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Market Activity Report ~ Jan 17-23, 2011

There was an amazing amount of “freshening” of listings done last week. Out of 33 properties listed as “new” on the market, only 11 were truly New listings.  Last Week Lake Oswego also saw 16 Pending sales, and 10 Closed sales according to RMLS.

See below for further details according to RMLS:

NEWLY LISTED (Jan 17-23, 2011)

Address List Price # Beds # Baths Total SF Prop Type
16200 PACIFIC HWY #11 $155,700 2 2 1190 CONDO
5225 JEAN RD 307 $165,000 2 2 1100 CONDO
3101 MCNARY PKWY 12 $190,000 2 2.1 1363 CONDO
5215 MADRONA ST $250,000 3 2 1325 DETACHD
2755 GLEN HAVEN RD $325,000 3 2 2088 DETACHD
13332 VERMEER DR $409,900 4 3 2382 DETACHD
9 SPINOSA $459,750 2 2.1 2250 DETACHD
1231 BAYBERRY RD $475,000 3 2 1980 DETACHD
2626 PARK RD $519,000 4 3 2475 DETACHD
14785 UPLANDS DR $675,000 4 3 3325 DETACHD
2311 OSWEGO GLEN CT $989,000 4 4 4529 DETACHD

PENDING SALES (Jan 17-23, 2011)

Address List Price # Beds # Baths Total SF Prop Type CDOM
49 OSWEGO SMT $67,500 1 1 720 CONDO 127
44 EAGLE CREST DR 8 $87,000 2 1 908 CONDO 42
4000 CARMAN DR 46 $99,900 2 2 999 CONDO 14
200 BURNHAM RD 406 $114,000 2 1 1216 CONDO 990
18148 BELMORE AVE $245,000 3 1 1008 DETACHD 3
3535 UPPER DR $275,000 3 2 1373 DETACHD 11
14138 KNAUS RD $275,000 4 2 2001 DETACHD 106
2240 SOUTHSHORE BLVD $309,000 3 1 1120 DETACHD 147
18667 PILKINGTON RD $339,999 4 2.1 2512 DETACHD 241
942 CLARA CT $349,000 4 2.1 3123 DETACHD 194
16 OTHELLO ST $394,000 4 3 2820 DETACHD 189
17187 CARLSON CT $395,000 4 3 2082 DETACHD 118
19415 SW DOGWOOD CT $499,900 5 3 3517 DETACHD 381
1060 UPPER DEVON LN $524,000 3 2.1 2400 DETACHD 464
5705 SOUTHWOOD DR $549,000 4 2.1 3360 DETACHD 314
691 G AVE $620,000 4 2.1 2789 DETACHD 24

SOLD (Jan 17-23, 2011)

Address O/Price Close Price # Beds # Baths Total SF CDOM
322 CERVANTES CIR 12-A $85,000 $47,250 2 1 832 205
1751 ASPEN CT $294,500 $224,000 3 2 1550 113
19167 LONGFELLOW AVE $310,000 $255,890 3 2.1 1782 386
252 N SHORE RD $369,000 $320,000 3 1 2280 428
156 Greenwood RD $309,900 $329,900 2 2 3722 896
762 LAKE FOREST DR $439,900 $425,000 4 3 2400 168
4303 SUNDEW CT $519,995 $506,250 4 2.1 3355 35
567 2ND ST 302 $693,025 $535,000 2 2 1459
17080 FERNWOOD DR $699,900 $590,000 5 3.1 3681 261
15578 VILLAGE DR $799,000 $749,000 3 2.1 3630 35

Criteria: Homes in the 97034 and 97035 zip code, listed, pending or sold between the dates listed above as reported by the Regional Multiple Listing Service (RMLS). DETACHD refers to Single Family Detached Residence, MFG refers to manufactured housing, and ATTACHD refers to single-family residences with some portion of the structure attached to another property, but not constituting CONDO ownership. DOM stands for days on market, or the number of days from when the listing became active and when it received an acceptable offer, with CDOM standing for “cumulative days on market” accounting for “refreshed” listings

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Open Houses ~ January 23, 2011

There are 28 beautiful homes being held Open Sunday in Lake Oswego according to RMLS.

Enjoy!

Address L/Price # Beds # Baths Total SF Style Open
86 KINGSGATE RD C-102 $139,500 2 2 924 CONDO 2-4PM
5055 FOOTHILLS DR C $239,000 2 2 1252 CONDO 1-4PM
18148 BELMORE AVE $245,000 3 1 1008 DETACHD 2-3PM
5530 BONITA RD $279,999 3 1.1 1200 DETACHD 1-3PM
53 ORIOLE LN $280,000 3 2.1 2072 DETACHD 12-3PM
7 BLOCH TER $285,000 3 2.1 2062 TWNHSE 2-4PM
15245 BOONES WAY $289,900 3 2.1 1600 TWNHSE 1-2:30PM
446 5TH ST $295,000 2 1.1 1092 TWNHSE 1-3PM
18231 TERRY AVE $325,000 3 2 1764 DETACHD 1-3:30PM
16990 LOWER MEADOWS DR $340,000 3 2.1 2000 DETACHD 1-3PM
1830 CLOVERLEAF RD $373,000 5 2 1795 DETACHD 1:30-3:30PM
4500 GALEWOOD ST $420,000 3 3 2408 DETACHD 1-4PM
18700 WOOD DUCK WAY $429,900 4 2 2158 DETACHD 2:30-4:30PM
762 MAPLE ST $449,000 3 2.1 2417 DETACHD 12-3PM
19319 SW DOGWOOD CT $499,900 4 2.1 3105 DETACHD 12-4PM
19263 MEGLY CT $549,900 5 3 3213 DETACHD 12-4PM
19245 SW MEGLY CT $559,900 5 3 3490 DETACHD 12-4PM
14361 SHERBROOK PL $569,000 3 2.1 2100 DETACHD 1-3PM
13615 KNAUS RD $625,000 2 2 1755 DETACHD 1-3PM
2469 MARYLHAVEN PL $649,000 4 3.2 5582 DETACHD 12-3PM
17884 KELOK RD $695,000 5 3.1 4124 DETACHD 1:30-3:30PM
17896 KELOK RD $695,000 6 5.1 4323 DETACHD 1:30-3:30PM
5320 SOUTHWOOD DR $748,000 4 3 3646 DETACHD 3-5PM
1809 HEADLEE LN $850,000 3 2.1 3836 DETACHD 1-3PM
533 Weidman CT $924,900 4 3.1 4108 DETACHD 2-4PM
3136 DOUGLAS CIR $968,950 4 3.1 4132 DETACHD 1-4PM
17010 Chapin WAY $1,099,900 4 3.1 4032 DETACHD 2-4PM
3515 UPPER DR $1,150,000 4 3.1 4061 DETACHD 1-3PM
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Mortgage and Market Tidbits

  • Local Area Trends- According to the latest RMLS Market Action Report, comparing November 2010 with December 2010, a few interesting facts emerge-  Average Sales Price increased in the Portland Metro area by 2.2%, and Closed Sales increased by 14.3% which is the highest monthly level since June.
  • Rates- There is some indication that this increase was due to interest rate swings which may have persuaded uncertain buyers to take action. After remaining for weeks at historic lows, rates jumped for a short time to over 5%. They have since gone back down again to about 4.75% but the temporary increase may  have  convinced  buyers that low rates won’t be around forever.  According to MBS  Quoteline, the volatility of rates which has surfaced in the first weeks of the new year is of course due to shifting economic factors. Prior to Friday’s Employment report, nearly all the economic data was stronger than expected which impacted mortgage rates negatively.  Rates improved after the employment data though, and ended the week nearly unchanged.
  • Pat Goodell of Academy Mortgage says:

    • The Monthly Inflation reports and Retail Sales reports  were not as strong as hoped so rates have stabilized below 5%.  But all indications are that there will be stronger economic data coming out in the next few months which will impact rates negatively again.  There is no reason to expect that rates will continue to be as low as they currently are and most expectations are that by the 2nd half of the year, they will have increased to over 5% again.

  • Portland Metro’s “Grade” To Improve?- The mortgage insurance companies identify cities according to their “risk” of declining values. One mortgage insurance company just upgraded 18  cities nationwide (and downgraded 3). They made no change to Portland yet but it’s a positive sign that they are seeing stronger values in 18 cities nationwide and one mortgage insurance rep did say he expects to see Portland upgraded in the near future.