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
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
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