About Me
I am a top ranked agent serving the Portland area for over 23 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. -
New Homes Sales Rise in September
A recent report was released by the federal government showing that new home sales had rose 6.6% in September 2010. For the second month a row, there have been gains. When compared to the same time period last year, however, it is significantly less due to the increase in sales from the tax credit last year.
An economist in the article said “new homes have stabilized.. we expect a gradual recovery over the coming months.” So if you have been thinking about a new home and whether right now is a good time to buy or not–it apprears new home prices may have hit a plateau.
Now is the time to get a great deal. Feel free to check out my new home listings in Lake Oswego in Riversedge View & Riversedge Woods. For floorplans, photos, and visual tours, go to http://www.StonebridgeHomesLakeOswego.com
Act Fast for Fall Foreclosures
Falls best bargains are foreclosures.
It is a great time to buy as sellers that remain on the market this time of year are truly motivated. Builders are trying to liquidate inventories and vacant homes are always an opportunity. No one wants to sit through the cold winter months with a vacant house.
Fannie Mae and Freddie Mac are trying to sell off 150,000 foreclosed homes by offering low down payments, no requirement for mortgage insurance, and up to $30,000 added to the mortgage for renovations. In addition, the real estate practitioner selling the property gets a $1,500 bonus. Buyers who plan to live in the properties get a 15-day chance to view the homes before investors can purchase them. Investors with cash will likely snap up any properties remaining at the end of the grace period.
With low interest rates, now is the time to buy.
Portland Metro September Market Action Report
With the start of school and end of summer, September had some struggles but nothing too out of the ordinary. When comparing month-to-month with August 2010, September closed sales increased by 1.3% and pending sales dipped by 6.2%. New listings also fell by 7.2%. The average sale price also went down by 6.5% from August.
Also, when looking at September 2009 to September 2010–there are some significant decreases. Closed sales decreased by 22%, pending sales dropped 30% and new listings fell by 1.4%. The average sales price also decreased by 3.5% on a year-to-year basis. The median sales price, however, only fell by 0.6%. These numbers show some strong indication that a lot of first-time home buyers are still in the market–even 1 year after the initial tax credit was set to expire.
With prices this low, and interest rates near rock-bottom–its still an amazing time to buy. True, there is risk with any investment. The current marketplace is so primed for ready, willing & able buyers–it would be tough to wait for a better time to buy.
Get ready for a SPOOKtacular Halloween Weekend in Lake Oswego!
Get ready for a SPOOKtacular Halloween Weekend in Lake Oswego!
Saturday 3-4:30pm
Luscher Farms is having a children’s spooky walk. Creepy sounds in their scarecrow walk & fun stories, so bring yoru costumes & treat bags!
Saturday 10am-1pm
Harvest Party at the Farm House will have a gourmet meals for $30, for those aged 15 and up. Take part in the cooking and serving of a delicious gourmet harvest meal. Riccardo’s Ristorante’s chef will be there to show you how Halloween cooking is done.
Sunday 3:30-5:30 pm
The Halloween Festival will be held in Millennium Plaza Park. There will be lots of treats! Including old-fashioned games, activities, treats and more! Bring the kiddos for some good ol’ fun, don’t forget the costume!
For more detailed information, visit www.ci.oswego.or.us
Save Your Green This Winter: Federal Tax Credit Expire Dec. 31
The nights are getting cold and most of us are turning the heat on for the first time. It is that time when we realize that daylight saving time is coming and our old charming home is really an energy hog. There is still time to get ready for winter before the tax credits expire Federal tax credits for buying an energy-efficient product or renewable energy system for your home are available. Here are some examples of what’s covered by the various credits. For more information, go to www.energystar.gov.
The tax credit gives you 30% of the cost up to $1,500 for:
- biomass stoves
- heating, ventilating, air-conditioning
- insulation
- roofs (metal and asphalt)
- water heaters (non solar)
- windows and doors
The credit expires Dec. 31 and applies only to existing homes and principal residences.
A tax credit of 30% with no upper limit is for:
- geothermal heat pumps
- small wind turbines
- solar energy systems
The credit expires Dec. 31, 2016, and applies to new and existing homes. Principal residences and second homes qualify, but not rental properties.
Lake Oswego Wine Tastings: World Class Wines–Every Friday
World Class Wines in Lake Oswego is holding their weekly tasting on October 15th The downtown venue has a different tasting theme every friday, and typically has live music.
This week, they will be tasting French wines paired with light appetizers. There will also be a live entertainment with a guitarist in the background. Tastings cost $10 for 6 wines, and there is an additional $5 for premium select wines.
World Class Wines is located in Downtown Lake Oswego. Visit their website for more information, event calendars, and more: www.worldclasswinesoregon.com
Buyer Beware…. It’s a spooky time to buy.
Buyer Beware…. It’s a spooky time to buy.
With so much doom and gloom in the media about the foreclosure crisis, the lack of qualified buyers in the market and falling prices, it amazes me that anyone would step up and buy real estate in these market conditions. But we are in a capitalist society where the markets reward risk. We will look back on this time in the real estate market and talk about how brilliant the investors were and what a smart purchases your friends made in 2010.
Now is the time to buy if you can stomach the risk. Inventory is abundant and if you know your market, there are some great values. Interest rates are at an all time low, which makes rental investments cash flow, and purchases cheaper than rent. Builders and sellers are looking to move unwanted homes before the winter slows down purchaser that tend to settle in for the holidays so you can negotiate aggressively and Freddy and Fanny are offering special buyer incentive for owner occupants on their bank owned inventory. So if you are thinking of buying your first home, moving up to a larger home or buying an investment property there has never been a better time to buy.
Have you walked the walk?
Have you walked the walk. Take time to tour the “Gallery Without Walls”. It’s free! Each year over 60 pieces of sculpture are available. The city owns 30 and another 30 are on loan from artists.
Lake Oswego Photo Contest: Voting Closes Oct 15th
After evaluating all eligible entries based on overall quality, creativity and how well the photograph portrayed Lake Oswego, the judges selected two finalists from each category. Now it’s your turn to vote for your favorite!
Here is the link to vote http://www.ci.oswego.or.us/tools/pubaffairs/photoContest/Default.aspx
