Here are some additional facts about distressed residential properties in the first quarter of 2012:

All Areas when comparing percentage share of the market 1st quarter of 2011 to 1st quarter of 2012

• When comparing the first quarter of 2011 to 2012, distressed sales as a percentage of new listings decreased by 0.6% (29.5% v. 28.9%).
• In a comparison of the first quarter of 2011 with the same period in 2012, distressed sales as a percentage of closed sales decreased by 2.0% (40.9% v. 38.9%).
• Short Sales comprised 15.0% of new listings and 13.0% of sales in 2012, down 0.2% and up 2.7% from first quarter 2011, respectively.
• Bank Owned properties comprised 13.9% of new listings and 25.9% of sales in first quarter 2012, down 0.4% and up 4.7% from 1first quarter 2011, respectively.

Portland Metro when comparing percentage share of the market 1st quarter of 2011 to 1st quarter of 2012

• When comparing the first quarter of 2011 to 20112 distressed sales as a percentage of new listings decreased by 0.5% (31.5% v. 31.0%).
• In a comparison of the first quarter of 2011 with the same period in 2012, distressed sales as a percentage of closed sales decreased by 2.5% (41.7% v. 39.2%).
• Short Sales comprised 16.1% of new listings and was down 0.2% from 2011. However, the percentage of sales rose from 9.9%  in 2011 to 13.5%  in 2012, a 3.6% rise.
• Bank Owned properties comprised 14.9% of new listings and 25.7% of sales in first quarter 2012, down 0.3% and 6.1% from 2011, respectively.

Information provided by RMLS™

Joelle Lewis | RE/MAX Equity Group Lake Oswego

503-407-8586

Combined with the decreased number of new listings, the small price increase, and the increased number of closed sales—this is a great time to list your home. Inventories are depleted and buyers are abundant.

2012 is heating up with signs of average sale prices starting to plateau, and increased buyer confidence. List now during the spring buying season.

Portland Metro: Q1 2011 vs. Q1 2012

Average Price: $251,700

-0.4% Change

Pending Sales Increased

+18% Change

New Listings Decreased

-12% Change

Closed Sales Increased

+12.2% Change

Lake Oswego/West Linn: Q1 2011 vs. Q1 2012

Average Price: $380,600

+0.8% Change

Pending Sales Increased

+15.7% Change

Information courtesy of RMLS

Joelle Lewis | RE/MAX Equity Group Lake Oswego

503-407-8586

If you are considering purchasing a new home, please contact me today. With over 24 years in real estate, and extensive experience with new construction & land development you need the right REALTOR to guide you through this complex marketplace.

For more info on the Ultimate Open House go to: http://ultimateopenhouse.net/

Joelle Lewis | RE/MAX Equity Group

5800 Meadows Rd. Suite 100

Lake Oswego, OR 97035

503-407-8586

Is George Clooney looking for a home on Lake Oswego?

If he is, this is the home he would purchase.  This Italian villa for $2.9 million could  certainly replace his Lake Como vacation home which is currently on the market  for $30 million.  Located on Lake Oswego,  one of only a few private lakes, George wouldn’t need to worry about the
paparazzi boating  over with their enormous telephoto lens and photographing his super model girlfriends.  This stunning replica of historic stone castles is designed to entertain with an interior lap pool, hot tub, weight room, sauna, wine celler and indoor practice tennis court.  With over 7500 square feet and a boat house that will hold the largest boat the lake will allow, maybe George will start spending summers in Lake Oswego.  Please share so that George won’t miss out on this fabulous opportunity. http://3232lakeviewblvd.greatluxuryestate.com/

Photo Courtesy of www.oceanstwelve.com

Joelle Lewis | RE/MAX Equity Group Lake Oswego

503-407-8586

www.LuxuryLakeOswegoHomes.com

Well, probably not. But the majority of economists in a recent study are predicting appreciation after 2012 and to gain higher in 2014.

It might be too soon to say, but I think we’ve hit bottom people. Its only looking up from here.

To check out the full article, click here.

Now more than ever, you should trust an experienced professional when buying or selling in this complex marketplace. Call me today.

Joelle Lewis | RE/MAX Equity Group Lake Oswego

joelle at pdxhomeseller dot com

503-407-8586

5800 Meadows Rd. Suite 100

Lake Oswego, OR 97035

However, buyers better prepare themselves for some hard-nosed compeition. I’m seeing multiple offers on many homes. Listing inventories are depleted and buyers are finally more serious than ever about purchasing a home.

Relying on a REALTOR is your first step toward a smart home search. With cutting edge technology and the knowledge to guide you through today’s complex marketplace–you will be sure to score on a great deal.

To gain access to thousands of listings, search by specifc neighborhoods, and get automatic new listing updates daily from my high-tech website–please email me. It is a complimentary service I provide my clients.

Nearly a whopping 81% of those surveyed said that prices will either stay the same or go up.

It is likely we’ve reached the bottom, folks. Let the games begin.

To see the full report, click here

For a free buyer or seller consultation, please contact me.

Joelle Lewis

RE/MAX Equity Group Lake Oswego

503-407-8586

joelle at pdxhomeseller dot com

The year has started off on a positive note. Sales activity in the Portland metro area continued to show improvement in closed and pending sales when comparing this January to the same month a year ago. Closed sales experienced a 18.3% increase, posting the highest numbers for January since 2007. Pending sales saw growth of 22.4% in the same comparison. Market time also improved, decreasing from 160 to 136 days.

There were 16.5% fewer newly listed residential properties. The combination of higher sales and fewer new listings helped to create a much lower listing inventory for this season than seen in the previous two years.

Call me today to talk about your home’s value in this complex marketplace. I’m seeing multiple offers and over list-price sales on some properties. There was a home in my neighborhood that went pending in 4 DAYS!

Joelle Lewis

RE/MAX Equity Group Lake Oswego

503-407-8586

Joelle@pdxhomeseller.com

Joelle Lewis | RE/MAX Equity Group Lake Oswego

503-407-8586

Joelle Lewis | RE/MAX Equity Group Lake Oswego

503-407-8586

joelle at pdxhomeseller dot com