In the next few days we should be seeing the August edition of RMLS Market Action. The report is changing: We’ve added a new column to the Residential Market Highlights and the Area Report in Market Action called Total Market Time. This new calculation will help our REALTOR® subscribers better manage the expectations of their… Continue reading Changes to RMLS Market Action
August continues the recent declining trend in our market. “The average sale price for August 2008 was down 9.7% compared to August 2007, while the median sale price dropped 6.7%. Month-to-month, the average sale price and median sale price are both down when compared with July’s levels; the average sale price dropped 2.7% ($331,300 v.… Continue reading RMLS Market Action August 2008
We live in an ever increasingly digital age. A picture was worth a thousand words and was as close to the truth as you were likely to get. With mainstream digital photography and photo editing software, a photo may not be the truth. The impetus of this post comes from another real estate related blog… Continue reading RMLS and Photos
Things are tough. During our sales meeting today an agent said he has 17 listings. Fifteen of them are short sales. He said that some banks he has worked with have agreed to losses of over six figures; another won’t budge on $2000. We’ve seen some amazing things happen in our economy in the last… Continue reading RMLS Market Action September ’08
I thought I might write something scentilating regarding lead based paint but that would be the easy way out of what has become a very contentious topic: Portland’s housing market. Nationally and locally the economic outlook isn’t good. There is a lot of uncertainty. Sure, Portland’s market has fared better than most of the nation… Continue reading Does Anyone Win in a Housing Market Crash?
The print version of November’s Smart Money has a story on 25 real estate markets ready to rebound. Portland isn’t one of them. Seattle is #25. The story claims that the complete list of 100 markets can be found online at smartmoney.com/mag but I can only find October articles.
Searching RMLS for residential property this morning there are 4208 Active listings in Portland. Of those, 441 (10.4%) are bank owned. There is a single listing over $1,000,000 priced at $1.7M. 750 (17.8%) are listed as short sales. There are four short sales listed over $1,000,000; the most expensive being $3,490,000. Though short sales occur… Continue reading Portland Short Sale and Bank Owned Property
The title of this post might be stretching it a little but in light of most of the recent death-of-real-estate-media coverage I’m taking a little liberty with it. The May 2011 Case Shiller Index for Portland is up 1.66 points. That’s the highest increase since May 2010 and only the second increase, joining last month’s… Continue reading Portland’s Case Shiller Rockets Skyward