Portland Oregon Real Estate Market Heats Up !

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Have you been waiting for the bottom of the market ? All indications are that boat has sailed! The bottom has been hit and the market is on its way up in a big way!

Here are the most recent Stats for the greater Portland Oregon metro area. :

In the first eight months of 2012 there have been 16.8% more accepted offers and 17.4% more closed sales than in the same 8 month time period of 2011 according to RMLS statistics. RMLS Market Action Update for August of 2012 points out that the average Sales price year to date of $271,100 is 2.7% higher and $230,000 median sales price is 4.5% higher than last year.

More over the posting of 2311 closed sales in August of this year has reached the highest level of sales since August of 2007 when they posted a high of 2554. August 2011 only posted 1805 sales. All the while fewer listings for August of 2012 have slipped to 3.7% which can only mean higher prices.

Be sure to Call, Text and or email if you any questions and or want to request that showing, Herbs Cell is 503-515-8889.

CDPE What is it and what could it mean for you

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Certified Distressed Property Expert or CDPE is the designation reached by Real Estate Agents who take the extra step in education regarding distressed properties.

Just what are distressed properties? Properties that are in poor physical condition like fixer uppers or condemned buildings for example are considered properties that are in distress.

Distressed properties is also an expression that is used to define a home owners position in regards to there Home. It is when the home owner finds themselves facing possible foreclosure due to circumstances beyond their control like severe financial instability.

It can also be a property that the mortgage obligation of the owner exceeds the properties true market value. In other words he is upside down.

CDPE agents will help you determine which category you are in and what can be done to help. Often times as a CDPE agent I find myself doing more counselling that any thing else. Just because you are upside down in your loan and or you may be facing foreclosure does not mean there is an easy remedy that awaits.

I am sure most of you have heard of  Short Sales in real estate. Many of you may know or have heard of people who have bought or sold their homes where the Lender has discounted the owed obligation by tens of thousands and sometimes hundreds of thousands of dollars.

I am here to tell you that is absolutely true. But did you know that there is a qualification process? To be able to take advantage of the Short Sale process you have to be able to prove your need. Give me a call at 503-515-8889 or email me at h.hamilton@remax.net.

I would be happy to take a look at your circumstances and help you to make a decision on what path is right for you be it Short Sale , PFS, HAMP or others I can help.

A 30 year Perspective on Real Estate Interest Rates

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What have Real Estate Interest Rates been doing over the last 30 years ? They haven’t sat still that’s for certain. Even though it seems as if they have been pretty stable for such a long time a little perspective now and then can help.

Funny thing is I hear it said every day often by many of you ” Interest Rates Can’t stay this low forever “ Isn’t it time you made your move? Give me a call or shoot me an email, lets get going while the deals are still to be had.

Thanks Geoffrey for sharing this great Chart.

Chart Courtesy of :

Geoffrey Boyd

Prime Lending

Portland House Hunting Brokers Tour Day

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Generally I do my Portland House Hunting for my Clients Daily. However in Portland Oregon Tuesday is the traditional Brokers Tour Day.

The Brokers Tour day is when all the Real Estate Brokers go out and see all of the new listings that have come on the market in the last week. It is a throw back to an antiquated tradition when new listings were printed in a Multiple Listing Book and delivered to the office once a week.

The Books have been gone for a long time now having been replaced by the Internet. I still do go out on tour though even though it is more of a Social Outing than anything else. It does however allow me a time to see those really difficult lsitings. You know what I mean, those listings where either the Seller or the Agent can’t help themselves and decide that there home is so exclusive that it must be viewed only by appointment.

In this kind of market it seems like a silly concept, when there are a lot of properties that can be viewed easily. But still all in all the client is best served if I can view them all giving them the best of the best to look at.

Here is what was on my radar this morning. :

No listings found

Portland Home Search Where is Herb

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My Clients Search most every day for their next home using my web site here at www.portlandrealproperty.com and so do I. Where is Herb and how do I begin my Portland Home Search for my Clients?

My search begins daily early in the morning normally around 7:00 am or so. My web site gives you two options. You can go to the Internet and pull up the site and begin searching or you can choose to have the updates emailed to you.

I choose to use the Emailed version which is updated every 20 minutes throughout the day so regardless of when I login to check whats going on the listing information is fresh.

After browsing for the new listings in each of the neighborhoods for my different clients needs I pick out the listings and Print them out. This will normally give me a list of homes to look at in the range of 5 – 20 homes a day.

Who are these clients? My buyer and Seller clients are a diverse group. Many are long term Clients some who I have worked with for nearly 20 years. Many others are people who have found me via the internet reading a blog post or they have stumbled across this site or one of my other sites.

So what am I looking at today? Take a look below and you can see what I will be looking at for N&S. This group of homes is in an area that is a little outside of N&S’s search area. But after looking for a while without finding a home that fits their needs, sometimes you got to do a little exploring.

No listings found