Many have wondered is the housing market really improving. Is 2011 going to look better or worst? In Hood River County residential sales went up in 2010 compared to 2009, and we almost sold the exact amount of houses in 2008. In 2010 203 homes were sold in Hood River County (204 in 2008!). We are still down from 2004-2007, but I see an optimistic future. The average days on market decreased, 156 days in 2009 and 122 days in 2010. The number of homes sold increased, 178 homes sold in 2009 and 203 in 2010. The Hood River housing market looks to be improving!
January 4, 2011
Columbia Gorge Bank Owned/Short Sale Residential Real Estate Stats
Recently we compiled stats to see how distressed properties are affecting our real estate market. In almost all counties you can see an increase in the number of bank owned sales in 2010. Wasco and Hood River county almost have the same percentage of bank owned sales. We are fortunate to have as healthy of a housing market as we do. Don Nunamaker, Realtors premidomently works out of Hood River. Hood River county is very fortunate if you compare it to Skamania county. Where almost 1 out of every 3 sales is a bank owned property. It will be interesting to see how foreclosures will affect the market in 2012.
December 28, 2010
Housing Market Predictions for 2011
Many people are wondering what the housing market is going to do next year. This last year had its positives and negatives depending on which side of the transaction you sat on. For sellers many lost a portion of their equity they thought they had. However, many buyers were able to afford a house when they couldn’t afford one before or were able to afford a bigger home. Billionaire Warren Buffet is among those who believe this is a sign the slump is about to end. Buffet writes: “Prices will remain far below ‘bubble’ levels, of course, but for every seller (or lender) hurt by this there will be a buyer who benefits.” The Hood River housing market has improved since last year and will hopefully continue to improve next year!
December 15, 2010
Sign The Petition – Get OR Transfer Tax Issue on the Ballot!!
Please go to protectoregonhomes.com and sign the petition. OR is proposing a real estate transfer tax, whenever a property is sold they will issue a tax on the sales price. The tax would be imposed whether or not you made a profit on the sale. many homeowners have already lost equity due to the economy this would only decrease their profits even more. The tax amount they are considering is unknown, but typically varies between .1% and 4%. There are already 36 states which have a real estate transfer tax.This is a really important issue, please take the time to sign the petition!
December 14, 2010
Interest Rates Reach 6 Month High
Interest rates climbed last week to their 6 month high*. However, rates are still in the 4% range, which is still very low. During these rising rates you tend to have two different types of people. One set of people say 4.5% that is low! I remember when rates were 13% or I have borrowed money many times for much more than that. Then you have people who are like 4.5%! I was thinking I could get a loan for 3%. I have seen articles on the internet with the debate will this hurt or help the housing market. Some people are hoping it may help buyers make a move, ones that have been waiting, may find more urgency since interest rates are starting rise. It will be interesting to see how this will affect the housing market this month. Although it may be hard to tell how much interest rates affected the market compared to the holidays and snow.
December 10, 2010
7 Trends That Will Drive the Future of Housing
On Realtor.com there is an article about 7 trends that Hanley-Wood’s ProSalesOnline.com identified as trends that will have the most impact on housing in 2011. One trend they mention is the size of houses being built. Many builders are sizing down the size of house since the real estate boom ended and buyers have became more budget conscious. They predict due to this trend you will see more and more people wanting sheds for their home. Also another trend that is very noticeable in the real estate industry is people wanting homes that are more energy efficient. The national association of realtors even created a designation for real estate agents, who want to become more educated about energy efficient homes, called the Green Designation. NAR’s Green Designation means the agent has had advanced training in green building and sustainable business practices so they can seek out, understand, and market properties with green features. Read the article to learn about all 7 trends they predict to drive the housing market.
Read The Aricle: 7 Trends That Will Drive the Future of Housing
