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Portland, Oregon Real Estate Information – Page 3 – Best Home Searching Portal for Portland, Oregon Homes
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Win a Family Pack of 4 Tickets to Sunset at the Zoo Concert on July 11th

PDX Kids Calendar is giving away a family 4 pack of tickets to Sunset at the Zoo Concert next week, July 11th. Go to PDX Kids Calendar to enter to win this great ticket package.


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Featured Builder of the Week :: Legend Homes

Legend Homes, one of Portland’s premier home builders, has been committed to finely-crafted new home construction and affordable green homes in Portland and Corvallis, Oregon for more than 40 years. Offers a wide variety of new home plans and new homes in peaceful communities. Through their innovative architectural design, quality green construction, first-rate modern home plans and comprehensive three, five and ten year warranties, they have truly innovated the ideal homebuilding process.


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North American Organic Brewer’s Festival Kicks Off Today, Friday June 29th

If you like beer, ice cream and comedy, you should trot your way over to Overlook Park and join in on the fun this weekend. For more information, click here.


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You’re A Good Man, Charlie Brown!

Join Tualatin Hills Park & Recreation District and Beaverton Civic Theater in the production of the classic, You’re A Good Man, Charlie, Brown. Event is on July 14th at 6 pm at the Center Street Park (SW Denfield St & SW Mercer Terrace). Blankets, lawn chairs and picnic baskets are encouraged. Free Admission!


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Client Tools Made Easy At Pohl Real Estate

Whether you are a buyer or seller, Pohl Real Estate’s Client Tools application will help you through your real estate transaction. With information on payment calculators, home searching plus much, much more these tools will be of great value. As always, if you are in need of anything related to real estate, please give us a call 503.488.5848.


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This Week’s Featured Condo is The Encore

The Encore, ranked number 1 in walkscore.com is located in the trendy area of Portland’s Pearl District. It is conveniently located next to the Pearl District’s newly planned, Fields Park and within walking distance to Tanner Springs Park and Jamison Square. To see a The Encore’s current listings, click here.


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DR Horton :: This Week’s Featured New Home Builder

DR Horton has been building livable and affordable homes for over 30 years. D.R. Horton continues to demonstrate its leadership in residential development through design innovation, superior craftsmanship, and responsiveness to the needs of its customers. In the Portland area alone, DR Horton, is working on 9 new home communities. Search these homes.


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Family Fun For This Weekend

Even though the weather forecast might not be sunny in the 80s, there are still many fun family centered events and happenings you can partake in this weekend. To find out more about these activites, visit Oregonlive.com


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Pohl Real Estate Offers A Wide Range of Services to Clients

As a full service real estate agency, we want our clients to enjoy their buying or selling experience and recommend our services to others. With so many agents to choose from, we want you to know why we are the best in the market. We offer competitive and strategic marketing campaigns along with our Give Back program that has proven to be a big hit! To find out more information, please visit our website that offers a comprehensive tool to search for homes. Pohl Real Estate.


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Festival of Balloons in Tigard Flies High This Weekend

It’s the fun-filled Festival of Balloons in Tigard and it’s happening June 22nd, 23rd, and 24th 2012! The hot air balloons are definitely the featured attraction of the festival, but … it’s MORE than just balloons! Enjoy a pancake breakfast, carnival, beer garden, festival of cars and much, much more! See link for more information: Festival of Balloons


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Use the Best Tool to Search for Homes in Portland, Oregon

Pohl Real Estate is a leader in the industry in home searching tools, so why not make them your favorite as well? When you arrive at the site you can search for homes by any criteria that is important to you. To go even farther, login and set up a client profile so you will be emailed the newest listings when the become available. It’s so easy and will help you find your next home. To start searching, Pohl Real Estate Home Searching


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Party with the Portland Timbers!

Fanno Creek Service Center will host a grand opening party with the Portland Timbers on Wednesday from 5:30-7:30 p.m.

This free event includes a Timbers youth soccer clinic for kids 8-12,  a scrimmage by the Timbers U-23s, autograph opportunities, tours of THPRD’s new maintenance facility and more, including the unveiling of  the Park District’s new synthetic turf soccer field.


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Tuesday’s Condo of the Day

Atwater Place showcases homes at Portland’s premier address. Open Daily 10AM-5PM. 0841 SW Gaines. South Waterfront. To see a complete showcase of all Atwater Condominums for sale or call 503.488.5848


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PDX Kids Events Calendar Can Help You Plan Your Day!

If you haven’t seen this great website already, now’s the time! As impossible as it seems, this website captures all things happening that is fun and family friendly. So now you can really plan your day, week or even month with great activities for you and your children.

PDX Kid’s Calendar


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Monday’s Feature Builder :: Arbor Custom Homes

Arbor Custom Homes has been named 2011 New Home Builder of the Year. Arbor builds communities in some of Portland’s most desirable locations like Lake Oswego, Beaverton and Happy Valley. Neighborhoods start from the $120s and go up to the upper $600s. Arbor offers their signiture style with every home certified as Earth Advantage and Engery Star. To learn more about Arbor, check out their website.

Arbor Custom Homes


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Oaks Park Announces Summer Discount Days

With the kiddo’s out of school for the summer, now’s the time to figure out what to do with all of thier free time! Luckily, Oaks Park just announced its Summer Discount Day’s program that begins tomorrow, June 16th!

For more information follow us at Oaks Park Summer Discount Days


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3.8% TAX TO GO INTO EFFECT IN 2013

The health care legislation enacted in 2013 included a new tax that was designed to affect upper income taxpayers. Understand this tax will not be imposed exclusively on real estate transactions. The tax is NOT a transfer tax on real estate sales and similar transactions.

Rather, when the legislation becomes effective it may entail a 3.8% tax on some (but not all) income from interest, dividends, rents (less expenses) and capital gains (less capital losses). These items are all included in an individual’s adjusted gross income (AGI). The tax will fall only on individuals with an AGI above $200,000 and couples filing a joint return with more than $250,000 AGI.

The new tax does NOT eliminate the benefits of the $250,000/$500,000 exclusion on the sale of a principal residence. Thus, ONLY that portion of a gain above those thresholds is included in AGI and could be subject to the tax.

Tax payers should familiarize themselves with the tax. The amount of tax will vary from individual to individual because the elements that comprise AGI differ from taxpayer to taxpayer. Contact me today for a referral to a licensed tax professional


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New Office Buildings in the Lloyd District Area

The Lloyd District home of the Rose Garden, Memorial Coliseum, Lloyd Shopping Center and many big office buildings and the Light rail are now going to have three new friends. One building will be 13 stories high, another 18 and the tallest will be the maximum zoning height for the Llyod District area at 32 stories tall.  These massive projects which are slated to begin by year end should help local businesses flourish and local construction jobs also flourish.

To catch more of the KATU news article


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Are You A Senior? Then Live In Style!

Here are three Oregon senior communities you can grow old and enjoy. They offer retirement living, assisted living, personal care and memory care. In add it on you receive, wellness care, physical activities, events and much more.  The three communities are:
Edgewood Point Assisted Living, SW Scholls Ferry Rd

7733 SW Scholls Ferry Rd

Beaverton, OR 97008

 

Stoneybrook Assisted Living, SW Hollyhock Circle

4650 SW Hollyhock Circle

Corvallis, OR 97333
Somerset Assisted Living, Cason Road

8360 Cason Road

Gladstone, OR 97027

 

To catch more of the Information about Living In Style at these communities visit


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Loss of Equity in Lake Oswego/West Linn

Wait a minute, Pohl Real Estate just published an article in March that said the Average values in NW Washington County increased by $53,500, how can this be, I thought the Portland Market was better insulated from this depreciation?

When it comes to analyzing statistics the answer is always “yes” because there are so many different variables one can consider.

To Read More Click Here

 

Search Lake Oswego Homes Now


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Have Kids? Need Fun to Know What’s Going on in Portland?

If you haven’t already, you MUST check out this great website, PDX Kids Calendar. It is a wonderful resource to find out what’s happening around town. Great kids activities, deals and promotions! Hope you enjoy!

PDX Kids Calendar


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NW Washington County Stats & Review Ending March 2012

We just updated the statistics for the NW Washington County area.

Overall the NW Washington County market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 134 days.  When the year to year Average Sales Price comparison is increasing and the Average Sales Price percent change is also increasing I have to give it a current price trend rating of appreciating.

NW Washington County’s Average Sales Price Percent Change is 1.5%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

NW Washington County, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $20,100 or 5.7% of value.

Average Sales Price in March 2012 was $348,800

Average Sales Price in March of 2011 was $328,700

Number of closed sales for the month of March was 92

The supply of homes stands at 3.61 months.

To See The Archive of Other Areas Around Portland Click Here


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Tigard & Wilsonville Stats & Review Ending March 2012

We just updated the statistics for the Tigard & Wilsonville area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Tigard Stats April 2012

Wilsonville Stats April 2012

Overall the Tigard market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 175 days.  When the year to year comparison is down and the average sales price percent change is also down I have to give it a current price trend rating of depreciating.

Tigard’s Average Sales Price Percent Change is -7.7%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

Tigard, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $-9,300 or -3.3% of value.

Average Sales Price in March 2012 was $276,000

Average Sales Price in March of 2011 was $285,300

Number of closed sales for the month of March was 163

The supply of homes stands at 4.37 months.

To See The Archive of Other Areas Around Portland Click Here


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Lake Oswego & West Linn Stats & Review Ending March 2012

We just updated the statistics for the Lake Oswego & West Linn area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Lake Oswego Stats April 2012

West Linn Stats April 2012

Lake Oswego’s Average Sales Price Percent Change is 0.8%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

Lake Oswego, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $-35,200 or -9.4% of value.

Average Sales Price in March 2012 was $373,200

Average Sales Price in March of 2011 was $408,400

Number of closed sales for the month of March was 84

The supply of homes stands at 7.30 months.

To See The Archive of Other Areas Around Portland Click Here

 


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Oregon City & Canby Stats & Review Ending March 2012

We just updated the statistics for Oregon City/Canby area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Oregon City Stats April 2012

>Canby Stats April 2012

Overall the Oregon City market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 140 days.  When the year to year comparison is up and the average sales price percent change is down decreasing I have to give it a current price trend rating of unchanged.

Oregon City’s Average Sales Price Percent Change is -3.1%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

Oregon City, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $25,100 or 10.65% of value.

Average Sales Price in March 2012 was $235,600

Average Sales Price in March of 2011 was $210,500

Number of closed sales for the month of March was 87

The supply of homes stands at 6.16 months.

To See The Archive of Other Areas Around Portland Click Here


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Milwaukie, Clackamas & Happy Valley Stats & Review Ending March 2012

We just updated the statistics for the Milwaukie, Clackamas & Happy Valleyarea. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Milwaukie Stats April 2012

>Clackamas Stats April 2012

>Happy Valley Stats April 2012

Overall the Happy Valley/Clackamas market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 134 days.  When the year to year comparison is up and the average sales price percent change is down decreasing I have to give it a current price trend rating of unchanged.

Happy Valley/Clackamas’ Average Sales Price Percent Change is -6.7%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

Happy Valley/Clackamas, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by 8,300 or 3.3% of value.

Average Sales Price in March 2012 was $253,900

Average Sales Price in March of 2011 was $245,600

Number of closed sales for the month of March was 138

The supply of homes stands at 5.34 months.

To See The Archive of Other Areas Around Portland Click Here


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Gresham & Troutdale Stats & Review Ending March 2012

We just updated the statistics for the Gresham/Troutdale area. Here is some brief data below and attached is a PDF courtesy of Altos Research. Gresham Stats April 2012

Overall the Gresham market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 151 days.  When the year to year comparison and the average sales price percent change are both decreasing I have to give it a current price trend rating of depreciating.

Gresham’s Average Sales Price Percent Change is -9.1%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

Gresham, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity decreased by $-60,300 or -34.5% of value.

Average Sales Price in March 2012 was $175,200

Average Sales Price in March of 2011 was $235,500

Number of closed sales for the month of March was 119

The supply of homes stands at 4.69 months.

To See The Archive of Other Areas Around Portland Click Here


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Hillsboro & Forest Grove Stats & Review Ending March 2012

We just updated the statistics for the Hillsboro & Forest Grove area. Here is some brief data below and attached is a PDF courtesy of Altos Research. Hillsboro Stats April 2012

Overall the Hillsboro market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 117 days. When the year to year comparison and the average sales price percent change conflict I have to give it a current price trend rating of unchanged.
Hillsboro’s Average Sales Price Percent Change is -7.8%.
Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Hillsboro, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity increased by $13,000 or 6.2% of value. Average Sales Price in February 2012 was $211,100 Average Sales Price in February of 2011 was $198,100 Number of closed sales for the month of February was 80 The supply of homes stands at 9.4 months.

To See The Archive of Other Areas Around Portland Click Here


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North Portland Stats & Review Ending March 2012

We just updated the statistics for the North Portland area.

Overall the North Portland market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 123 days.  When the year to year Average Sales Price comparison is increasing and the Average Sales Price percent change conflicts and is down I have to give it a current price trend rating of unchanged.

North Portland’s Average Sales Price Percent Change is -0.4%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

North Portland, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $14,000 or 6.4% of value.

Average Sales Price in March 2012 was $218,200

Average Sales Price in March of 2011 was $204,200

Number of closed sales for the month of March was 163

The supply of homes stands at 4.42 months

To See The Archive of Other Areas Around Portland Click Here


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Northeast Portland Stats & Review Ending March 2012

We just updated the statistics for the Northeast Portland area.

Overall the NE Portland market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 123 days.  When the year to year Average Sales Price comparison is increasing and the Average Sales Price percent change is conflicts and is decreasing I have to give it a current price trend rating of unchanged.

NE Portland’s Average Sales Price Percent Change is -0.4%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

NE Portland, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $26,200 or 9.5% of value.

Average Sales Price in March 2012 was $274,300

Average Sales Price in March of 2011 was $248,100

Number of closed sales for the month of March was 69

The supply of homes stands at 3.21 months.

To See The Archive of Other Areas Around Portland Click Here


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Southeast Portland Stats & Review Ending March 2012

We just updated the statistics for the Southeast Portland area.

Overall the SE Portland market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 93 days.  When the year to year comparison is down and the average sales price percent change is also down I have to give it a current price trend rating of depreciating.

SE Portland’s Average Sales Price Percent Change is -7.5%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

SE Portland, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $-16,000 or -8.0% of value.

Average Sales Price in March 2012 was $199,900

Average Sales Price in March of 2011 was $215,900

Number of closed sales for the month of March was 184

The supply of homes stands at 4.37 months.

To See The Archive of Other Areas Around Portland Click Here


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Northwest & Southwest Portland Stats & Review Ending March 2012

We just updated the statistics for the Northwest & Southwest Portland area.

Overall the West Portland market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 156 days.  When the year to year comparison is down and the average sales price percent change is also down I have to give it a current price trend rating of depreciating.

West Portland’s Average Sales Price Percent Change is -4.4%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

West Portland, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity increased by $-26,300 or -7.0% of value.

Average Sales Price in March 2012 was $374,200

Average Sales Price in March of 2011 was $400,500

Number of closed sales for the month of March was 173

The supply of homes stands at 5.39 months.

To See The Archive of Other Areas Around Portland Click Here


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Portland Stats & Review Ending March 2012

We just updated the statistics for the Portland area. Here is some brief data below and attached is a PDF courtesy of Altos Research. Portland Stats April 2012

The current Rolling Price Appreciation/Depreciation percent change is -5.1%.  The current year to year comparison is -3.3%.  Since these two are down I will have to give the monthly current price trend rating for Portland to depreciating.  To truly establish trend you need to consider the very longer term such as rolling average sale price percent change from year to year but you also need to consider the immediate trend when compared to last year’s same month and in many cases even the previous few months of data.

*This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).  In this case the rolling average over the last twelve months is $262,700 and the rolling average of the previous 12 months was $276,900.  You take the rolling average price difference and divide it by previous 12 month rolling average and you get -5.1%

When comparing March’s results this year 2012 to last year (March 2011) here is what you will find:

The average homeowner’s equity decreased by $-8500 or -3.4% of value.

Average Sales Price in March 2012 was $252,600

Average Sales Price in March of 2011 was $261,100

Number of closed sales for the month of March was 1262

The supply in the entire Portland Metro area stands at 5.0 months.

The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 135 days.

To See The Archive of Other Areas Around Portland Click Here


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Beaverton Stats & Review Ending March 2012

We just updated the statistic for the Beaverton area. Here is some breif data below and attached is a PDF courtesy of Altos Research. Beaverton Stats April 2012

Overall the Beaverton market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 142 days.  When the year to year comparison and the average sales price percent change are both decreasing I have to give it a current price trend rating of depreciating.

Beaverton’s Average Sales Price Percent Change is -7.7%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (4/1/11- 3/31/12) and compares it to the rolling average sales price of the previous 12 months (4/1/10-3/31/11).

Beaverton, Oregon’s Current Real Estate Climate When comparing March’s results this year, (2012) to last year (March 2011) here is what you will find:

The average homeowner’s equity decreased by $-5800 or -3.0% of value.

Average Sales Price in March 2012 was $192,200

Average Sales Price in March of 2011 was $198,000

Number of closed sales for the month of February was 162

The supply of homes stands at 3.71 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 142 days.

It’s important to compare these statistics to the entire Portland Metropolitan area as a whole which includes all of the city of Portland as well as the surrounding suburbs. This will help you to determine how each area is performing.

To See The Archive of Other Areas Around Portland Click Here


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Portland’s Market Conditions and Inventory Report for March 2012 Have Now Been Posted

Residential Real Estate Inventory drops in Portland, Oregon to a five year low at five months of supply. Many areas of Portland registered below 4 months. To read more, follow the link below.

March 2012 Market Conditions and Inventory Report


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March 2012 Statistics Have Been Posted!

The results are in for March! Check out this link to find out the details on market statistics in the Portland area for March 2012.

March 2012 Market Statistics


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New Listing in the Desirable SW Hillsdale Area :: Must. Check. This. Out!

This amazing home will be coming on the market next week, but we thought we’d give you all a sneak peak!

Here are the details :: 1900 sq ft, 3 bedrooms, 3 bathrooms, low maintenance authentic Japanese garden, hardwood floors, extra deep 2 car garage, 5 minutes to OHSU, great freeway access, great walkabiltity to local happenings, farmers markets held weekly, top ranked Rieke Elementary, parks nearby like Wilson and Rieke.

Priced at $349,950

If you, or anyone you know is interested in this home, give us a call at 503.488.5848 for more details and a private showing.

 

 


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Northwest Washington County Stats & Review Ending February 2012

Overall the Northwest Washington County market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 134 days.  When the year to year comparison and the average sales price percent change are both positive numbers I give the current price trend rating of appreciating.

Northwest Washington County’s Average Sales Price Percent Change is 0.3%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).

Northwest Washington County, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:

The average homeowner’s equity increased by $53,300 or 14.6% of value.

Average Sales Price in February 2012 was $365,700

Average Sales Price in February of 2011 was $312,400

Number of closed sales for the month of February was 50

The supply of homes stands at 7.4 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)
The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 134 days.

To See The Archive of Other Areas Around Portland Click Here


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Tigard/Wilsonville Stats & Review Ending February 2012

We just updated the statistics for Tigard area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Tigard Stats March 2012

Wilsonville Stats March 2012

Overall the Tigard market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 174 days. When the year to year comparison and the average sales price percent change both reflect decreasing numbers I have to give it a current price trend rating of depreciating.
Tigard’s Average Sales Price Percent Change is -7.8%. Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Tigard, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity decreased by $-13,900 or -5.6% of value. Average Sales Price in February 2012 was $250,100 Average Sales Price in February of 2011 was $264,000 Number of closed sales for the month of February was 110 The supply of homes stands at 6.2 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)
The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 174 days.

To See The Archive of Other Areas Around Portland Click Here


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Lake Oswego and West Linn Stats & Review Ending February 2012

We just updated the statistics for Lake Oswego & West Linn area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Lake Oswego Stats March 2012

West Linn Stats March 2012

Overall the Lake Oswego market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 152 days. When the year to year comparison and the average sales price percent change are both increasing I have to give it a current price trend rating of appreciating.
Lake Oswego’s Average Sales Price Percent Change is 0.4%. Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Lake Oswego, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity increased by $28,300 or 7.1% of value. Average Sales Price in February 2012 was $397,000 Average Sales Price in February of 2011 was $368,700 Number of closed sales for the month of February was 62 The supply of homes stands at 9.2 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)
The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 152 days.

To See The Archive of Other Areas Around Portland Click Here

 


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Happy Valley, Clackamas & Milwaukie Stats & Review Ending February 2012

We just updated the statistics for Happy Valley, Clackamas & Milwaukie area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Happy Valley March Stats 2012

Clackamas Stats March 2012

Milwaukie Stats March 2012

Overall the Happy Valley market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 153 days. When the year to year comparison and the average sales price percent change conflict I have to give it a current price trend rating of unchanged.
Happy Valley’s Average Sales Price Percent Change is -6.9%.
Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Happy Valley, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity increased by $8900 or 3.7% of value. Average Sales Price in February 2012 was $240,400 Average Sales Price in February of 2011 was $231,500 Number of closed sales for the month of February was 80 The supply of homes stands at 9.4 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.) The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 153 days.

To See The Archive of Other Areas Around Portland Click Here


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Gresham, Troutdale, Fairview and Wood Village Stats & Review Ending February 2012

We just updated the statistics for Oregon City/Canby area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Gresham Stats March 2012

Overall the Gresham market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 97 days. When the year to year comparison and the average sales price percent change conflict I have to give it a rating of unchanged.
Gresham’s Average Sales Price Percent Change is -7.0%.
Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Gresham, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity increased by $200 or 0% of value. Average Sales Price in February 2012 was $188,000 Average Sales Price in February of 2011 was $187,800 Number of closed sales for the month of February was 68 The supply of homes stands at 8.3 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 97 days.

To See The Archive of Other Areas Around Portland Click Here


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Hillsboro & Forest Grove Stats & Review Ending February 2012

We just updated the statistics for Hillsboro & Forest Grove area.

Overall the Hillsboro market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 117 days. When the year to year comparison and the average sales price percent change conflict I have to give it a current price trend rating of unchanged.
Hillsboro’s Average Sales Price Percent Change is -7.8%.
Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Hillsboro, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity increased by $13,000 or 6.2% of value. Average Sales Price in February 2012 was $211,100 Average Sales Price in February of 2011 was $198,100 Number of closed sales for the month of February was 80 The supply of homes stands at 9.4 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.) The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 117 days.

To See The Archive of Other Areas Around Portland Click Here


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Beaverton Stats & Review Ending February 2012

We just updated the statistics for Beaverton area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Portland Stats March 2012

Overall the Beaverton market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 117 days. When the year to year comparison and the average sales price percent change are both negative I have to give it a rating of depreciating.
Beaverton’s Average Sales Price Percent Change is -8.3%. This is the main indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Beaverton, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity decreased by $-3,800 or -1.9% of value. Average Sales Price in February 2012 was $204,100 Average Sales Price in February of 2011 was $207,900 Number of closed sales for the month of February was 121 The supply of homes stands at 5.1 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.) The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 117 days.

To See The Archive of Other Areas Around Portland Click Here

 


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North Portland Stats & Review Ending February 2012

We just updated the statistics for North Portland.

Overall the North Portland market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 93 days.  When the year to year comparison and the average sales price percent change conflict I usually give it a current price trend rating of unchanged, but since the percent change is low at -1.8% and the year to year is so high at 10.4% I’m changing it to appreciating.

North Portland’s Average Sales Price Percent Change is -1.8%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).

North Portland, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:

The average homeowner’s equity increased by $21,400 or 10.4% of value.

Average Sales Price in February 2012 was $206,700

Average Sales Price in February of 2011 was $185,300

Number of closed sales for the month of February was 59

The supply of homes stands at 4.7 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 93 days.

To See The Archive of Other Areas Around Portland Click Here


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Northeast Portland Stats & Review Ending February 2012

We just updated the statistics for the Northeast Portland area.

Overall the Northeast Portland market is still a buyer’s market.  Interest rates are still very low and the average market time is still ok at 105 days.  When the year to year comparison and the average sales price percent change conflict I give it a current price trend rating of unchanged.

Northeast Portland’s Average Sales Price Percent Change is -5.7%.

Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating.  *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).

Northeast Portland, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:

The average homeowner’s equity increased by $16,100 or 5.8% of value.

Average Sales Price in February 2012 was $279,600

Average Sales Price in February of 2011 was $263,500

Number of closed sales for the month of February was 145

The supply of homes stands at 3.7 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.)

The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 105 days.

To See The Archive of Other Areas Around Portland Click Here


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City of Portland and All the Surrounding Suburbs Stats & Review Ending February 2012

We just updated the statistics for Portland and Surrounding Suburbs area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Portland Stats March 2012

Overall the Portland real estate market is still a buyer’s market. Interest rates are still very low and the average market time is 138 days down from 177 days last February. The average sales price and median sales price are both up slightly.

The current Rolling Price Appreciation/Depreciation percent change is -5.5%. The current year to year comparison is +4%. Since these two conflict I will have to give the current price trend rating for Portland to unchanged. To truly establish trend you need to consider the very longer term such as rolling average sale price percent change from year to year but you also need to consider the immediate trend when compared to last year’s same month.
*This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11). In this case the rolling average over the last twelve months is $263,500 and the rolling average of the previous 12 months was $278,700. You take the rolling average price difference and divide it by previous 12 month rolling average and you get -5.5%
When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:

The average homeowner’s equity increased by $10,600 or 4% of value.

Average Sales Price in February 2012 was $255,100

Average Sales Price in February of 2011 was $244,500

Number of closed sales for the month of February was 1262

The supply in the entire Portland Metro area stands at 6.5 months.

The time it takes on average from when a homeowner lists their home to when a home has an accepted offer is 138 days.

To See The Archive of Other Areas Around Portland Click Here


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Who Cares About Walkability Anyway

Portlanders have always lead the way with creating and wanting “walkable neighborhoods”. That is people would prefer to drive less and do more local shopping within walking distance. It turns out the rest of the nation agrees and is following suit. According to the National Association of Realtors 80% of people look for homes in pedestrian rich areas and furthermore 60% would even sacrifice home size if they could drive less. Our company uses a walkability score on all of our listings on our website and so do some of the other larger brokerages such as Windemere and John L. Scott. If you are reading this and have no idea what I’m talking about go to walkscore.com here.

To catch more of the Oregonian Article


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Why Foreclose, Take Advantage of Doing A Short Sale

Banks prefer you sell your home for less than you owe rather than foreclose. In fact short sales are so prevalent that 17% of all transaction across the country are short sales ending February. America’s largest mortgage servicer has doubled the number of short sales approved. Lenders follow their money and they realize they make more doing a short sale in fact some stats have them making 20% more than a foreclosure. The owners of the home make out too because it shows good faith on their part in solving the problem rather than just dumping it so they not only have peace of mind but also it’s reflects much better on their credit report.

To catch more of the CNN Money Article


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Want to Live in North Bethany Take a Look at Arbor Oaks

North Bethany is a growing and mid-scale master planned community of 230 homes that when finished will comprise 500 homes. It’s located off NW Springville Rd in Washington County. The community has a pool and an adjacent elementary school and sits near PCC’s Rock Creek campus, West View High School and a 32 acre THPRD complex. The new area that was just opened will have daylight basements 1700-4000 sq feet and priced from $290,000-$635,000. For more details about this community you can visit Arbor Custom Homes here.

To catch more of the  Oregonian Article


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Homeowner’s Associations Can Go Down With Windbags

Ever heard the expression “TMI” too much information?  This little expression can cost an HOA thousands of dollars. There is a fine line as to what the board of an HOA should tell their members and what they shouldn’t. If a board is required to disclose certain material facts it’s just as important how you disclose those facts as it is what the facts are.

To catch more of the HOA Leader’s Article


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Polygon Northwest Homes’ Timberland Offers A Fallback For Increasing Rent

Timberland is an 88 acre master planned development located off NW Barnes Road in Northwest Portland. When some of the high rise rental condominiums downtown have been increasing their rents some of these renters have found a home in this development which is a short 5-10 minute drive downtown and located between Cedar Mill and Forest Heights.  It can be cheaper to purchase in this development then to rent.

To catch more of the Oregonian Article


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Retailers Flood Away From The Pearl District

The Pearl has always been a pride and joy for Portlanders; it was the place to be and the place to be seen. Retailers felt the same way. Now that the Pearl is maturing, still very expensive retailers are wising up and choosing to cut overhead and display there products in different ways.  A few businesses that have left the Pearl include: Eddie Bauer, Adidas, Puma and a few restaurants closed or relocated. There are many that would suggest looking at the Pearl with a different point of view such as, there is Section 8 housing there, some restaurants are closing shop and heading to the Pearl, and lease rates are not increasing.

To catch more of the Oregonian Article


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Will Park Avenue West 27 Floor Building Ever Start Construction Again?

The Park Avenue West was going to be a 27 Floor Building High Rise Construction Project located at 728 SW 9th Ave which is directly behind Nordstrom and near Pioneer Courthouse Square. The building was 50% leased but the project was  stopped in April of 2009. After much energy spent shoring up financing, the construction will restart in 2013 and conclude in 2015.  It’s going to be a really cool building with underground parking, retail, office and two twin spires that light up at night. It will also have biker friendly commuter showers, bike parking and lockers. It will make it Portland’s third highest skyscraper behind that of the Wells Fargo Center and US Bancorp Tower buildings.

To catch more of the Portland Business Journal Article


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Radon…in Portland?

Do you live in Portland? Do you live in a radon hot zone? Have you heard that radon is the number two cause of lung cancer and your really freaked out? Yes there are studies that show that certain areas of Portland have high radon levels compared with the entire country and yes there can be cause for real concern. If you smoke or have lung issues and your home has a high exposure to radon it’s going to increase your likelihood that you’ll have a problem too. Freaked out yet? Want the good news? Ok the good news is first and foremost if there is a problem it can be remedied. Radon is one of those issues where your home could have very high levels but your neighbors home might not have any at all. What do you do now, you ask? First, get some tests completed by professionals to see if you have a problem. You can call any radon inspection company and for $150 they’ll come out and put equipment in your home for 48-96 hours testing the radon exposure. You’ll need to keep the doors and windows shut the majority of time so a good time to do it is just before a vacation or extended weekend.  You can also buy different kits at Home Depot as well. If the results are deemed unsafe when compared to EPA (Environmental Protection Agency) or the World Health Organization standards, then you have options. There are many radon remediation companies out there that will help to eliminate or reduce the radon in your home. They will put special equipment in your basement or home to get the radon out of your home. Then they will retest the home after so you’ll see the differences.

To catch more of the Portland Tribune article click here


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Hoyt Street Properties Get’s Fined by Oregon DEQ for Christmas Horses

Do you remember that really cool horse show with incredibly beautiful horses, acrobats and actors that took place in the Pearl District around Christmas time?  Well Oregon’s Department of Environmental Quality is not happy with the way the show disposed of gravel.  The fine was $4941 for water quality violations and was charged to Hoyt Street Properties who is the owner of the land. DEQ claims that because the gravel did not go through an appropriate washing it could put fish habitat at risk.

To catch more of the FOX 12 Article


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Anthony Tuomi Pleads Guilty to Screwing Over Investors To The Tune of $5,000,000

Anthony Tuomi was the Chief Financial Officer of Willamette Development Services. Willamette Development Services was an real estate development company headquartered in Albany, Oregon. The original purpose of the company was when it was founded in 2006 was for building commercial and residential homes across the Willamette Valley.

To catch more of the KOIN local 6 Article


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New 6 Story South Waterfront Building Going Begins Construction

This is an affordable housing project. The project costs are estimated at $50,000,000 and will house 209 residents that meet the eligible income requirements. Also Veterans get 42 of those units who earn less than $15,000 a year. The South Waterfront has been a neat area to be apart of over the last decade. They have many really nice residences in 6 different high rise condominiums buildings. A few of the buildings are for owning and the other buildings are for renting. It’s a perfect place to live if you work at OHSU or the VA. Simply walk to the gondola and take it to work.

To catch more of the KATU Article


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Is Your Rent Going Up You Need An Affordable Place to Live? Partner with Proud Ground!

Proud Ground is a non profit company started in 1999 to keep homes affordable forever. Using creative financing with a various grants, loans, and trusts Proud Ground is able to help Portlanders get into affordable quality (many times new) homes. Pohl Real Estate, LLC has personally worked with Proud Ground to get a client into a home in Gresham. Our client has a disability, very low fixed income through social security and receives section 8 money and through a combination of programs we he was able to purchase his first home. He would not have been able to purchase if it were not for Proud Ground and various others partners.

To catch more of the Oregonian Article click here

Here is a link to Proud Ground


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Staley Purchase Finalizes Work on the Staley Agreement

James Staley has waited for this day his entire life. Through partnership with many organizations his dream of home ownership came true. Mr. Staley has a developmental disability that mainly affects his speech, but through a mass community effort involving, Community Vision, Proud Ground, City of Gresham, SHOP Program, land trusts, grants, gifts from his Mom and late Father, Freddie Mac, HomeStreet Bank, Pohl Real Estate, and a victory in the class action suit the Staley Agreement, Jim was finally able to walk into his new home before Christmas. One requirement for one of the grants was that he had to get community volunteers to help him work on the house after purchasing. Jim is one of the most likable guys you’ll ever meet; he had about 30 volunteers from family and friends show up to move bark dust, grade the landscaping and drainage, fix lights, weatherize the home, paint, and clean up. We are honored to have helped Jim purchase this home.

To read the Gresham Outlook article (Picked Up By the Portland Tribune) and the details of my client’s purchase click here


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City of Beaverton Wins A $1,000,000 Grant

The name of the Grant is the Sustainable Communities Challenge Grant and it was issued by the US Department of Housing and Urban Development (HUD).  The grant’s purpose is to help eight key elements of the Civic Plan which was adopted in April of 2011 by the City Council.  This grant among other things will help with creeks and natural resources, streetscapes, parking and use, development for the Beaverton Round and Westgate sites, creation of desired development styles, and integrating affordable housing into future development plans.  Lots of organizations are partnering up.

To catch more of the article click here


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With Foreclosures Mounting, Experts Say To Reduce Principal On The Loan

Some experts say the answer to our nation’s financial woes all tie into the real estate crisis and it’s not enough  to  reduce interest rates but but banks need to reduce principal balances owed as well. The arguments for this approach are by reducing the principal balances to normal levels based upon today’s values banks would avoid the many of the foreclosure costs and the homeowners would be able to have  extra income to be able to jump start the economy again. The thought is if you have more money to spend and some peace of mind you’ll spend it.  They claim it can be better for the investor as well because they incur most of the costs in a foreclosure such as legal fees, maintenance costs, sales costs and more. Instead of forking all the money out for foreclosures they should reduce the principle balance and avoid foreclosure and get the homeowners spending money again. Banks and Investors who own the value of the notes disagree with the principal reduction idea, their stance is a deals a deal. If you allow a principal reduction when does it end and then everyone in the entire nation will be coming to get their principal reduction as well.

To catch more of the article click here


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Blackwood Homes Survives Fallen Builders

A quote from the owner Nathan Kairns as stated in the Oregonian, “People are so doom and gloom on housing, but we’re doing really well,” he said. “We didn’t have a lot of inventory when things turned bad, and we’ve been able to come in and buy land at a corrected price and are building a good product.” He further states that prices may be the same from builder to builder but the product can be widely different and he attributes that to his success.

To catch more of the article click here


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Southeast Portland Stats & Review Ending February 2012

We just updated the statistics for Southeast Portland area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Southeast Portland Stats March 2012

Overall the Southeast Portland market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 114 days. When the year to year comparison and the average sales price percent change conflict I have to give it a current price trend rating of unchanged.

Southeast Portland’s Average Sales Price Percent Change is -7.8%.
Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Southeast Portland, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity increased by $1900 or 1.0% of value. Average Sales Price in February 2012 was $198,300 Average Sales Price in February of 2011 was $196,400 Number of closed sales for the month of February was 163 The supply of homes stands at 4.8 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.) The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 114 days.

To See The Archive of Other Areas Around Portland Click Here


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Northwest and Southwest Portland Stats & Review Ending February 2012

We just updated the statistics for Northwest and Southwest Portland area. Here is some brief data below and attached is a PDF courtesy of Altos Research.

Northwest and Southwest Portland Stats March 2012

Overall the Northwest and Southwest Portland market is still a buyer’s market. Interest rates are still very low and the average market time is still ok at 209 days. When the year to year comparison and the average sales price percent change conflict I have to give it a current price trend rating of unchanged.

Northwest and Southwest Portland’s Average Sales Price Percent Change is -4.4%.
Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).
Northwest and Southwest Portland, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity increased by $37,600 or 9.5% of value. Average Sales Price in February 2012 was $395,700 Average Sales Price in February of 2011 was $358,100 Number of closed sales for the month of February was 133 The supply of homes stands at 6.7 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.) The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 209 days.
It’s important to compare these statistics to the entire Portland Metropolitan area as a whole which includes all of the city of Portland as well as the surrounding suburbs. This will help you to determine how each area is performing.

To See The Archive of Other Areas Around Portland Click Here


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Equity Increases for NW Washington County Homeowner’s

If you live in Northwest Washington County…you must read this article regarding the equity in your home!

Equity Increased


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Portland Inventory Slashed!

Need help understanding what real estate inventory means? Is it good? Is it bad? How does it help me with my real estate transaction?

Inventory Slashed


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Understanding Property Disclosures

Why is it so important to understand property disclosures? Read the article below to learn why understanding this is so important to a home sale.

Understanding Property Disclousres


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Need Help Understanding Mortgage Rates?

In this article, you will learn the reasons why mortgage rates rise and fall. Click on the link to read the full article.

Understanding Mortgages


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Why Such a High Appreciation Rate on Real Estate in 2000?

Here’s an interesting article on why real estate appreciated so quickly in the early 2000’s.

Article on Real Estate Appreciation


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Oregon City & Canby Statistics and Review Ending February 2012

We just updated the statistics for Oregon City/Canby area.  Here is some brief data below and attached is a pdf courtesy of Altos Research.  Oregon City Stats March 2012

Oregon City’s Average Sales Price Percent Change is -5.9%.
Average Sales Price Percent Change is a good conservative indicator for determining if a market is appreciating or depreciating. *This is the 12 month rolling average for sales price which takes the rolling average sales price over her last twelve months (3/1/11- 2/29/12) and compares it to the rolling average sales price of the previous 12 months (3/1/10-2/28/11).

Oregon City, Oregon’s Current Real Estate Climate When comparing February’s results this year 2012 to last year (February 2011) here is what you will find:
The average homeowner’s equity decreased by $-6,400 or -3.0% of value. Average Sales Price in February 2012 was $213,700 Average Sales Price in February of 2011 was $220,100 Number of closed sales for the month of February was 59 The supply of homes stands at 8.7 months. (The supply or inventory is how long it would take to sell off the current/available homes on the market at the current rate of sale.) The time it takes on average from when a homeowner lists their home for sale to when a home has an accepted offer is 127 days.

To See The Archive of Other Areas Around Portland Click Here


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What are some Common Fees you pay at Closing when you are Buying?

Escrow or Settlement Fee

Lender’s Title Insurance

Lender Endorsements

Early Issue Title

Title Services

Courier Fees

Deed Recording Fees

Trust Deed Recording

Other Recording Costs

Government Recording Charges

Tax Prorates

Tax Reserves

Insurance Prorates

Insurance Reserves

Origination Fees

Discount Points/Rate Locks

Underwriting Fees

Processing Fees

Flood Zone Fee

Appraisal Fee

Home Inspection Fee

Home Warranty Fee

Depending on the loan type you could have many other charges as well.

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What is a Lease Option to Purchase and Why Would a Buyer or Seller want to Engage in this type of Contract?

A lease option to purchase is contract between a prospective buyer and seller whereby the seller agrees to lease the seller’s home to a prospective buyer with the option to purchase the home at a given price within a given time period.

Why would someone want to enter into a lease option if they are a seller of a home?

If you are the seller and are unable to get enough money when trying to sell your home the conventional way you might try alternate way to deal with the debt obligation (your asset) owed to the bank. With a lease option because it’s flexible and unconventional you as a seller can charge the prospective buyer more rent as well as get a higher price for the home. Typically, with a lease option you’ll get “option consideration” which is an amount of money to lock in the prospective buyer’s option. Usually sellers will want to get enough option consideration that will cover the home of repairs should the prospective buyer have no desire to purchase and trash the home. Also the rent the prospective buyer will pay will be increased as usually some of the rents they pay may go to the purchase price of the home when the time comes that they can secure financing. You as a seller are doing the buyer a favor by allowing them to live in your home while the buyer is straightening out their affairs with the hope that they will be able to purchase in the future. Some of the reasons why a prospective buyer could not purchase right then might be credit, reportable income, or interest rates. As the buyer is living in the home they could be cleaning up their credit, getting a better job and in the future be ready to purchase. In a down market when real estate is declining it’s hard to sell a home on a lease option because by the time the buyer is ready to purchase it may not appraise for what you originally agreed or the buyer may not want to purchase it period because the home is worth so much less. In an up market it’s a win win because the seller will get the price they originally wanted and the buyer will have increased equity and value over time and be even more invested in the home.

Why would someone want to enter into a lease option if they are the buyer of a home?

If you are buyer and have issues with credit, income, or temporary problems and want to purchase a home but simply cannot get financing right now you might turn to a lease option. If the market is climbing you will have the ability to lock in the price of the home for a certain period of time such as 12-24 months. If you lock in the home price at $200,000 and in 24 months the home appreciates by 5% per year then it’s going to be worth $220,000. That’s $20,000 of value in two years that you would not had if you were just renting. Also many times the seller of the home will make it easier for you to purchase the home down the line by offering to give part of rents as downpayment for the home and the option consideration you pay for this contract will in most cases be applied right to your downpayment. This can be a great win-win!

Article

 


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What’s the deal with the Portland Real Estate market in the 1980’s?

If you are looking for homes you’ll notice you won’t come across many homes that were built in the 1980’s. Why is that? Well for one interest rates got as high as 21% in Portland thus practically eliminating conventional financing as a tool to purchase real estate. Also unemployment was around 10% nationally so there were much less incomes being able to pay for a home. Banks would require more money down. There were no short sales. Appraisals were coming in too low. Inflation increased rapidly. Long story short it was very difficult for sellers to sell their homes. This had a dramatic impact on the investor that today makes their living on cleaning up and fixing up homes to sell to the public at a profit. Consumers earned less money and living expenses due to inflation cost more so it made it difficult to save for a home and be able to afford a home through a bank loan. Many homeowners had to resort to alternative methods of selling homes such as selling their home with an owner carry note if they were so lucky to have large amounts of equity, or selling them in a lease to own type situation.

I feel that depending on what happens with bank regulations and interest rates that we could go through something similar to what we did in 1980’s.

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What is a Short Sale as it Relates to My Home?

A short sale is when your real estate is not worth as much as you owe on the home.

Can you ever do a short sale if your home is paid off and nothing is owed? The answer is no. A short sale only occurs when you are shorting the bank of money that’s legally owed to them in your financing contract.

Why would you ever do a short sale? If you need to move but are upside down on your mortgage you would need to conduct a short sale to sell your home.

Can you give me an example of a short sale? Sure you if you owe $300,000 to ABC bank and your home is now worth $250,000 you are $50,000 short of what you can get a buyer to pay you for your home. Your options at this point if you must sell your home is to 1. pay the difference between what someone is willing to pay and what is owed to the bank (in this case $50,000), 2. walk away from the home and give it back to the bank and suffer a foreclosure on your credit along with the debt obligation owed back to the bank., 3. ask the bank to help you sell your home by conducting a short sale. If you don’t have $50,000 this is your only option of getting rid of the home without going through foreclosure.

Why would a bank want to give up money you owe them and agree to a short sale? The bank is not in the real estate business and it’s cheaper for a bank to accept a short sale and take the loss than to go through all the legal proceedings of a foreclosure. It’s better for most banks and it’s better for you.

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Owner Carry Contracts? I Want Someone To Buy My Home and I’m Willing To Carry Back a Loan for them. How do I Execute this with Minimal Fees?

Owner carry back loans are and will be even more popular in the future when interest rates climb and when people don’t have income, assets and or credit to get a conventional loan through a bank. The harder it is to sell a home the more creative the homeowner will need to get and this could be the only option the homeowner will have to sell their home.

“Wait a minute back up, what exactly is an owner carry contract?” An owner who has equity in their home or a home that is paid off (free and clear of any loans) can choose to sell their home to another person and then take that equity they have and collect payments. In a sense the homeowner would act as the bank. He or she would be responsible for collecting a downpayment and collecting money every month until the loan is paid off. It’s a very useful tool to sell a home because a homeowner might want to loan money to someone that a bank would not touch if it means they are going to buy their home. This creates a win-win with both the homeowner and the buyer. The risk is limited for the homeowner because if they collect a large downpayment then should the homeowner not pay they can foreclose on them and get their home back and the seller keeps the downpayment funds.

There are many things you need to do to protect yourself when trying to pull off a seller carry back loan transaction. If you’ve negotiated the sale with someone verbally and just need someone to put what you’ve verbalized into a real estate contract and protect both parties moving forward than you’ve come to the right place. There are many many things that you could do wrong so paying someone a small fee to make sure that you never have to deal with hundreds of thousands of dollars of real estate or debt is well worth it. You should be able to hire someone for $1500 up to 2% of purchase price to make sure that all parties are completely satisfied. If you’re able to find the buyer it’s a lot cheaper to pay 2% total to close a home than 5-8% using real estate agent to sell your home. The hard part is finding the buyer. The real estate agent will be able to expose your home to thousands of people and that’s why they are so valuable.

1. The person you hire will be able to execute a real estate purchase and sale agreement.

2. The person you hire will be able to put the terms of the loan and form the note for the transaction. Items like interest rate, late payments, amortization schedules, insurance, escrow, collections and much much more.

3. The person you hire will be able to produce all the state approved legal forms that are necessary when it comes to selling a piece of real estate.

4. The person you hire will be able to make sure both parties are protected by securing a title insurance policy.

5. The person you hire will be an advocate to make sure that all the taxes and interest are prorated

6. The person you hire will make sure the home is recorded on the date and time that it needs to be recorded.

7. The person you hire will make sure that downpayment funds are deposited into a non-biased third party licensed by the state.

8. The person you hire will be able to assist you and complete the transaction from start to finish.

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What’s The Deal With My Old Woodstove?

As of August 1, 2010 There is a new Oregon law that requires removal of uncertified woodstoves when selling a home. In 2009 the Oregon Legislature signed Senate Bill 102 into law which requires the removal of uncertified woodstove from a home when it is         sold. The law is supposed to protect Oregonians from uncontrolled wood smoke. The fear is that residential wood burning is a significant source of air pollution, which includes fine particulate and air toxics.  As the homeowner you are required to destroy this device.

Here is the DEQ’s fact sheet.

Here is a list of the EPA certified woodstoves and fireplace inserts.

Here is a list of the DEQ certified woodstoves and fireplace inserts.

For frequently asked questions on the new Oregon policy please check out the  Oregon DEQ FAQ here.

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With All The Information I Can Get On the Internet Why Would I Need A Real Estate Professional?

Well that’s a good questions but there is a good answer too. Yes information is everywhere now. You can learn the ins and outs and details of every home and you may know it better than most Real Estate Agents. However the knowledge an experienced Real Estate Agent has is invaluable when moving you through a real estate transaction. Not only will they have represented hundreds of buyers and sellers in which they’ve gained tremendous experience but they will be able to bring a level of calm and structure to the transaction that will guide you through until the day of closing.

The Real Estate Agent will have access to the most updated statistical data and trends which translates into saving you many thousands of dollars. From inventory reports to time on market to how many homes were listed but never sold they will be able to provide you all the information you need to be able to make smart decisions for your family. You will also need their unbiased opinions and advice in order to sell your home. From staging the home to preparation to dealing with the ins and outs of buyer home inspections and negotiations a Real Estate Agent will be able to guide you through every aspect in the most positive way for you.

Yeah ok but what about buyers? Well as a buyer yes you can look at most all the homes available on the market on-line and you can call the listing agents to try and get inside but the fact of the matter is that a listing agent has a legal obligation to the Seller to make them the most money for the transaction and they’ve already negotiated with the Seller what amount will be paid to the Buyer’s agent on the transaction. A good Buyer’s agent will not only make the process seamless for you but they will be able to capture and secure you the best deal you can possibly get because they can crunch the numbers and analyze the market so that you are not paying too much. They will also be able to advise you on every aspect of the home inspections and warranty information. Plus there fee that has already been negotiated to be paid by the Seller so you’d be silly not using a Buyer’s agent because you don’t need to pay them. Why would you ever not use a Buyer’s agent?

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How Can Community Organizers Help?

Community Organizers and Volunteers’ goal is to increase property values and they create the sayings like “you didn’t just buy a home, you bought a stake in the neighborhood”. When people move into the neighborhood the community organizers give the residents the expectation that they need to do more to help the neighborhood. When they push the residents to keep their properties up to date and clean it causes a chain reaction and establishes pride within the community as well as the individuals and neighbors. Community organizers know that everything is incremental. This work does not happen over night it takes years of consistent pressure and volunteerism to make a neighborhood attractive.

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Community Workshops: What are they and what do they accomplish?

A community workshop helps residents to learn how to replace the common problems that the neighborhood homes face. For example, if a neighborhood in Portland has stucco siding than over time that stucco siding will look horrific with the Northwest weather. So if the community gets together and gets a contractor to teach the homeowners how to best clean their siding or what is the best paint to use so that the siding doesn’t mildew and stain than not only will each resident be knowledgeable about how to best take care of their siding but many residents will meet the contractors that know how to take care of the problem and could get a bulk discount for work. When a few families start cleaning or replacing their problem siding than it makes the neighborhood like nicer and ultimately puts pressure on those that still have the ugly old siding to replace theirs next. Nobody wants to have the ugliest house in the neighborhood. They get the residents talking and networking and helping in each in community. Momentum is everything in a neighborhood. People want to be proud of where they live and want their values to increase so these community workshops are instrumental keeping a community strong and vibrant.

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How Can Putting On Events In Your Community Increase Demand and Increase Values?

What does putting on events do for a community? If there are events taking place in a neighborhood people are more apt to take care of their properties and lawns which ends up encouraging other to do the same. When outside people come to the neighborhood they notice that the neighborhood is kept up and clean. In addition when newcomers visit it plants a seed about the reputation and quality of the residents as well as puts the homes on display. People want to live in a fun and welcoming community so putting on these events gives life to a quiet or drooping neighborhood. People want to have fun and these events help the residents meet each other as well as network with others who have in interest in keeping the neighborhood strong. When a neighborhood is personable people work and try harder to keep it great.

Here are some examples of events you can put on in your neighborhood:

1. Wine tasting

2. Dog shows

3. Poker nights and card games

4. Community garage sales

5. Neighborhood home tours

6. Rehab neighborhood tours

7. Poetry and book readings

8. Potluck dinners

9. Plant swapping

10. Block parties

11. Community workshops

12. Hair fashion shows

13. Kids play times and summer games

14. Blood pressure screening

15. Donating blood to the American Red Cross

16. School supply giveaways

17. Donating Christmas trees or clothing to boy scouts

18. Buying girl scout cookies

19. Garden tours of the neighbors

20. Live music

21. Seasonal festivities

22. Window box displays.

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Neighborhood Associations – Building Pride and Appeal for Your Neighborhoods!

Have you ever thought you could increase values in your neighborhood when prices are dropping just by being a good neighbor? Well think again. Good neighborhoods have good association and community groups that ensure pride and appeal and if you’re neighborhood is more appealing than other similar neighborhoods than it’s safe to say your value will also be more appealing.

What are some of the key ingredients to maintaining a great neighborhood association? Here are a few below.

1. Public safety groups help to reduce crime and help moral in the community

2. Neighborhood watch programs also reduce crime and keep neighbors checking in on other neighbors.

3. Keeping the community and common grounds all beautiful and looking clean and neat. This helps to instill pride and has a carryover effect making other want to help to keep their environment clean and beautiful.

4. Newsletters and publications

5. Handing out welcome kits with information on local businesses and contractors that are familiar with the neighborhood or even members of the neighborhood.

6. Putting on events

7. Use the community as the selling point.

8. Community Workshops? What are they and what do they accomplish?

9. Build great community organizers and volunteers.

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Frequently Asked Questions for First Time Homebuyer Tax Credits

The National Association of Builders has provided the following information for people on their website regarding the FAQs of First Time Homebuyers.

Who is eligible to claim the $8,000 tax credit?         First-time home buyers purchasing any kind of home—new or resale—are eligible for the tax credit. To qualify for the tax credit, a home purchase must occur on or after January 1, 2009 and on or before April 30, 2010. For the purposes of the tax credit, the purchase date is the date when closing occurs and the title to the property transfers to the home owner. A limited exception exists for certain contract for deed purchases and installment sale purchases. See the IRS website for more detail.

However, the law also allows home sales occurring by June 30, 2010 to qualify, provided they are due to a binding sales contract in force on or before April 30, 2010.

Persons who are claimed as dependents by other taxpayers or who are under age 18 are not qualified for the tax credit program.

Read Full Article Here


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The 2009 Year End Recap of Portland, Oregon Real Estate Market

Well 2009 was the year of inventory declines and continued market depreciation. Two thousand nine was the second straight year of market declines. Portland is desperately trying to get their real estate market back to normal, but it’s still way too volatile. A big stat that is very telling is in December 2008 the inventory was at 14.1 while the inventory now is at 7.7%. That’s almost a 50% decline year to date.

There are three main reason the inventory declined in the Portland, Oregon market. First, the inventory grew to such obscene levels in by January of 2009 that it only had one way to go, which was down. The second reason for inventory declines is that people simply stopped by houses due to economic fears and Portland’s overwhelming job losses. The third main reason is that new listing were way down for the year. With double digit market depreciation people are so upside down on their houses they could not sell.

In 2008 people were in denial and finally started realizing that they could not sell their homes due to the market conditions, but in 2009 people understood this so they did not list their homes to begin with when the data didn’t correspond. On top of it all those listing that never sold in 2008 were taken off the market in 2009 thus causing inventory levels to drop significantly. We are now in a more balanced market. The supply of homes still overpowers the demand a bit but we are getting close.

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