We’ve decided to take some of the proceeds from the sale of NE Ivy (the relinquished property in 1031 speak) and pay the capitol gains on it. The majority of the money is being used for the down payments on two new properties. The trick is that the IRS doesn’t allow the 1031 Exchange company… Continue reading Cash out of 1031 Exchange

RMLS Market Action for October was just released. Nothing really surprising in the broad numbers. Inventory is up to almost 12 months. Accepted, closed and pending sales are down from this time a year ago. Average and Median prices are also down for the Portland Metro Area. The following breakdown “is based on a comparison… Continue reading RMLS Market Action October 2008

I’m using Prudential Northwest Properties Transaction Platform which gets it data feed from RMLS to search for properties listed in Portland excluding any suburbs.  Between October 1st and October 31st, 2008, 637 properties listed in RMLS sold (864 sold in the same time frame in 2007). In 2008, they ranged from an in-park double wide to… Continue reading Is Portland Real Estate Selling?

Slow sales have sent inventory skyrocketing to 15 months.  The average sales price is down 10.5% since last November. The median price is down 7%. North Portland is the only area reporting “Total Time on Market” under 100 days (98). Pending sales have dropped between 14.8% and 38.5% since the same time last year.

No real surprise that Portland’s 2008 real estate activity ended with a thump.  We’ve traditionally seen a slow down in our business during the holidays and then the Arctic Blast brought showings to an almost standstill.  One of the few showings that we did have on a listing has resulted in a pending sale.  None… Continue reading Year Ends with Market InAction- RMLS Dec. ’08

While the snow fell, inventory soared to a record 19.2 months.  The total number of active listings appears to be about the same as it was in January 2008 but the slow in sales (732 in 2009 compared to 1085 in 2008) means the listing will take longer to sell in this market.  The 732… Continue reading RMLS Market Action January 2009: Portland Inventory Soars

RMLS Market Action reported the highest level of inventory in recorded history this month.  Inventory is calculated by taking the current number of active listings and dividing it by the number of closed sales (14,006 listings/732 closed sales).  In January 2006, there were 6.2 months of inventory.  Between March and September of 2005 inventory never… Continue reading 19.2 Months of Inventory. What it Means to You as Seller.

All I can do is report the numbers.  Inventory numbers are lower but you can’t definitively define why.  December’s weather sucked, the holidays, economic uncertainty, what-have-you; all that was all reflected in January. 

Each month when RMLS publishes their data in Market Action, it is broken into areas.  The areas are numbered using the same system that the Oregonian uses to separate their real estate classified ads.  I added the area numbers in the graphic above (click on it to enlarge) for clarification as often Realtor-speak simply refers… Continue reading RMLS Market Areas and Median Prices Mapped

Did Portland real estate hit bottom in January?  Are we looking back at the bottom or a bump?  Portland housing inventory dropped again in March 2009 to 12 months RMLS Market Action reports.  January had the highest ever recorded inventory at 19.2 months, it dropped to 16.6 in February and March levels are close to… Continue reading RMLS Market Action March 2009