Agent Profile
I am a top ranked agent serving the Portland area for over 20 years specializing in residential real estate sales and investments. I created this site as a real estate resource for buyers and sellers who want to be well informed about current inventory and pricing. If you are interested in actively tracking the market, please sign up to receive my daily listing email. We map every new listing each day then update the neighborhood maps. The map is emailed to you...simply click a neighborhood to see the listed properties for sale, complete with pictures, price and address. Agency Info
RE/MAX Equity Group
5800 Meadows Road, Suite 100
Lake Oswego, OR 97035
Rock Bottom Mortgage Rates
Mortgage rates have hit a new record low for the 10th time in 11 weeks as investors continue to turn to Treasury bonds as a safe haven; the shift in money is cutting yields, which mortgage rates tend to follow.
Freddie Mac reports that 30-year fixed loans averaged 4.32 percent, down from 4.36 percent a week ago; and the 15-year fixed rate fell to a new low of 3.83 percent, down from 3.86 percent.
Lake Oswego: Additional Traffic from Sewer & Dam Projects around Sept 15
The Lake Oswego Corporation is planning some dredging of the Lake around September 15th, and the ongoing sewer replacement project along with the modification of the main dam will create additional truck traffic:
Trucks will be entering West Bay via Bryant Road; traffic on Bryant road, Near the access point will be restricted to one lane with a flagger. Another truck access will be located on Oswego Canal where Wren and Cardinal meet, ending on the south side of the Bryant Road Bridge near Pioneer Court.
Trucks will also be accessing just off south Shore adjacent to the SE corner of the bridge and via property at the corner of Wren Street and Cedar Road.
Additional truck access will be vial a road entering the Lake at Alder Point.
The project is expected to last no more than six weeks.
Source: Lake Oswego Corporation
Foreclosures are Down, Late Payments are Up
Realtors’ Magazine published an article that cites a decrease in foreclosures in the second quarter of 2010, according to the Mortgage Bankers Association’s National Deliquency Survey.
Since 2006, the number of homes throughout the foreclosure process fell for the first time. Additionally, there has been the biggest decrease since 2005.
On the other end, however, late payments have seen an increase since the end of 2009. Like many other economists, the Mortgage Bankers Association’s cheif economist Jay Brinkmann said “Only when we see a consistent increase in employment will we see an increase in sales and starts, and a sustained improvement in the delinquency numbers.”
To read the full article: http://www.realtor.org/RMODaily.nsf/pages/News2010082701?OpenDocument
Signs of Optimism
So we all knew there would be a slow-down after the tax credit expiration, so it should not come as big of a surprise that sales were down from June to July of 2010.
According to the National Association of Realtors’ chief economist, Lawrence Yun, there are several factors in the housing market that are showing signs of optimism. In a recent article, he sites the tax credit deadlines for the decrease of sales in recent months and thinks there will be a lull until September. Additionally, mortgage rates are unbelievably low, and home prices are rising slightly. Yun also comments that the pace of the housing market would pick up faster with the addition of more jobs. To put this year in perspective, Yun also suggests sales are set to reach $5M this year–when compared to a 20 year annual average of $4.9M does not seem so off-course.
To read the full article, go to: http://www.realtor.org/press_room/news_releases/2010/08/ehs_fall
2014 Housing Market Stabilization, Pacific NW to be the strongest growth
Waiting for those prices we saw just a few years ago? Well.. according to reports you should not hold your breath. BusinessWeek published a story how Fiserv and Moody’sEconomy.com have predicted a more healthy real estate environment by 2014. It is estimated that there will be a 7.2% increase above 2010 prices, and suggests that the Pacific Northwest will have the strongest level of growth.
For the full article, visit: http://www.businessweek.com/lifestyle/content/aug2010/bw2010082_282258.htm
July 2010 Market Action Report
The RMLS Action Report for July is out. While pending and closed sales have declined when comparing July 2010 to July 2009, average sales price has shown a slight increase of 2.9%. Month-to-month also saw decreases in closed and pending sales when compared to June 2010. This is likely due, in part, to the expiration of the tax credit. Year-to-date sales from January-July 2010 have increased, however, when compared to the same period one year prior. Source: RMLS
Market Action Report for June 2010
The average sale price for June 2010 declined 3.3% compared to June 2009. The median sale price also fell 4% on a month-to-month basis, comparing June 2010 to May 2010, the average price went up 5.2% and the median price grew a slight 0.4% Source: RMLS
RE/MAX equity group, inc. #1 in Portland Metro, #29 in Nation for 2009
There’s a reason why I work for RE/MAX. It’s the best company in town.
RE/MAX equity group has been ranked #1 according to the Portland Business Journal of Top Metro Real Estate Firms for 2009. RE/MAX topped the chart in all categories; total number of producing agents, tri-county sales in units, and four counties sales in units. For more information visit Portland Business Journal
Similarly, RE/MAX equity group was named #29 in the nation in terms of 2009 transactions. Rismedia furnished this information in their annual Power Broker Report. For more information, visit Rismedia.
April Market Action Report
Compared to activity in April 2009, sales have improved in April 2010. When looking at closed sales, there has been a substantial 49.1% increase in closed sales and a 60.8% rise in pending sales. New listings are also up 23.8%.
From March to April 2010, sales were up 7.9% and pending sales grew 24.5% from the month prior. Listings dipped, however, 5.5%. Also comparing month-t0-month, the average sales price went up 0.6% while the year-to-year price decreased 3.1%. This number, however, is an improvement from the March 2009-2010 average sale price decreased by 5.6%. This might be a slight indication that prices are starting to finally stabilize.
For more information please visit RMLS
Please do not hesitate to contact me today for similar market updates!
Discover historic Lake Oswego with Metro’s Walk There! event series
Don’t you just love spring?! Well, get out and join the Metro’s sponsored event Walk There! event on Wednesday, May 26 at 2 p.m at the Irish Totem statue on at Evergreen Road and Second Street in Lake Oswego. The walk will end at 3:30 p.m. back at the statue. Prior registration is not required.
For more details on its route and to read the full article, click here
