Oregon real estate info from Kelly Hagglund

Last week in Yamhill County Oregon Real Estate

Kelly Hagglund (The Kelly Group) — Fri, 20 Nov 2009 17:42:02 -0600

As I look at the residential pendings they are down a bit, but “lots and lands” pendings were up by a long shot!!

This is good news, this means that people are thinking about building and when new construction starts up again that means that the economy may be moving toward recovery.

Bank owned listings were also up. This reveals that my hunch was right, banks are just now getting their inventories out there and I think there are more to come!

Listings of short sales were fewer this week and that is probably because they became bank owned.

Definitely word out there that interest rates will be going up when the government uses up their allotted bond purchasing money. Lower priced homes, low interest rates..buying couldn’t be better!

Real Estate stats for Yamhill County for the last two weeks

Kelly Hagglund (The Kelly Group) — Fri, 13 Nov 2009 10:47:32 -0600

Here are the past 2 weeks, side by side. We are hoping that the expansion of the tax credit will promote activity in more than just the first time home buyer price range!

It's Official! Homebuyer Tax Credit Extended and Expanded

Kelly Hagglund (The Kelly Group) — Fri, 06 Nov 2009 12:28:08 -0600

Officially signed into law this morning!!!

Homebuyer Credit -

Extended to May 2010 (must be in Contract by April 30th and close by June 30th)

$8,000 for first time buyers (have not owned a home in the last 3 years)

$6,500 for buyers who have lived in their residence for 5+ years

It's a GREAT TIME TO BUY! :)

Congress passes Homebuyer Tax Credit extension ... President Obama to sign into Law

Kelly Hagglund (The Kelly Group) — Thu, 05 Nov 2009 15:31:46 -0600

The Bill extends the $8,000 tax credit for first time homebuyers, as well as adding a $6,500 credit for non-first time homebuyers. The credit would be good for contracts entered before April 30th, 2010 and closed by June 30th. Income restrictions apply as well.

President Obama is supposed to sign the bill into law tomorrow.

Many believe that this will be the last extension of the credit.

Yamhill County cooling off but Homebuyer Tax Credit most likely extended into 2009

Kelly Hagglund (The Kelly Group) — Fri, 30 Oct 2009 09:59:57 -0500

While the temperature went down so did pendings and solds this week.

I know…..they were not exceptional the week before!

We are hearing nationally that things are picking up…investors snatching up the great deals out there may be the bulk of the sales.

New home stats are not up. So we follow-up on any interest and work on making sure all of our properties are highlighted in the best way possible.

It looks like the Senate will pass an extension of the homebuyer tax credit, we will have the specifics available on our website as soon as they are made official!

Or feel free to contact me and I can send them directly to you.

Have a great week!! Kelly

Weekly Yamhill County Real Estate Update - home sales, pendings, solds

Kelly Hagglund (The Kelly Group) — Thu, 22 Oct 2009 15:41:43 -0500

Inventory up a bit, pending and solds down a bit.

National news suggests recovery so we can hope that we are in for something good.

Global news suggests that our optimistic national news could change at any moment, leaving us all just guessing.

One thing we know is that inflation is on the rise which will affect mortgage rates which will in turn affect house sales. When we look back a couple years from now even though economy may be recovering our buying power may be greatly altered.

Tell all your friends that now is the time to buy!!

Retail Sales for September fell by 1.5% - and while the numbers were better than expected, they are still dismal at best. In addition, the flood of pre-holiday sales and layaway options that are already hitting - remember, it's still mid-October - also suggests a lack of pricing power for retailers.

Stock earnings season continued with some mixed news: There were reasonably strong earnings reports from Intel and JPMorgan Chase, while there were weaker than expected reports from Johnson & Johnson, General Electric and IBM. Bank of America also posted its first loss for the year.

Take care,

Kelly

Ironman World Championship, home buyers looking in upper price ranges, relatively quiet in lower ranges

Kelly Hagglund (The Kelly Group) — Tue, 20 Oct 2009 12:05:53 -0500

What a week last week!! I had the privilege to observe first hand the “Ironman World Championship” at Kona. My husband manufactures an “Ironman” recovery mattress which is amazing. In fact the two world champions sleep on them and so do we!! We were there on behalf of this recovery mattress. We had the privilege of being VIPs and were able to stand at the finish line to receive the runners.

This race consists of a 2.4 mile swim in the ocean, 112 mile bike ride through the wind and terrain of Kona and then after that a 26.2 mile run to the finish. It was extremely hot and humid and the winds were strong for the bike segment, they faced head winds going both ways!!

Craig Alexander Men’s World Champion

Chrissie Wellington Women’s World Champion

Pictures from www.ironman.com

The pro’s started at 6:45 am and finished in about 9 hours which was very impressive. I have to tell you what was even more impressive and brought us to tears were the people who finished the race closer to midnight!
There were people in their late 70’s finishing this race and when they came over the finish line the cheers were amazing!!

A young man who had both his legs amputated at the age of 5 participated.
A young man in his 20s who has battled cancer at four times already in his life who had recently had a heart transplant also participated.

A 79 woman with an amazing outlook on life, an 80 year old gentleman with great legs all participated in this amazing event!

Back on the home front things were relatively quiet even in the lower price ranges this last week. Even the number of new listings were down.
We see a little more activity in the “looking” phase of homebuyers right now in the upper price ranges. Hopefully this will lead to some pending sales in the next few months.

Oregon receives $457,390 to support foreclosure prevention counseling

Kelly Hagglund (The Kelly Group) — Mon, 12 Oct 2009 12:39:35 -0500

Salem – Oregon Housing and Community Services has been awarded $457,390 to support foreclosure prevention counseling throughout the state.

OHCS Director Victor Merced made the announcement: “Great news. Now we can reinvigorate our help to Oregonians who are having difficulty keeping their homes. This is very important for people fighting to stave off foreclosure.”

The much-needed boost will enable OHCS, which manages the mitigation money, to provide counseling to homeowners in danger of foreclosure. Counseling referrals are made through Oregon SafeNet, 1-800-723-3638.

The grant to support OHCS foreclosure intervention came from the National Foreclosure Mitigation Counseling Program. The initial funding was provided by Congress in the FY08 Consolidated Appropriations Act.

Additional funding was provided through the Housing and Economic Recovery Act of 2008 and the Omnibus Appropriations Act of 2009. The National Foreclosure Mitigation Counseling Program is administered through a competitive application process by NeighborWorks® America, within guidelines defined by Congressional legislation.

NeighborWorks® America is an independent, congressionally-chartered non-profit organization based in Washington, D.C., with a mission to provide access to sustainable homeownership and safe, affordable rental housing.

Earlier foreclosure mitigation awards to Oregon totaled $418,504, covering early 2008 through mid- 2009, when 1,514 persons were served. The mitigation counseling is conducted by counselors certified by the U.S. Department of Housing and Urban Development in workshops and housing centers under the auspices of OHCS.

Oregon Housing and Community Services is the state’s housing finance agency and community services program administrator. The department provides financial and program support to create and preserve opportunities for quality, affordable housing serving Oregonians of lower and moderate income, and administers federal and state antipoverty, homeless, energy assistance and community service programs. Go to www.ohcs.oregon.gov/

Yamhill county real estate stats, pending home sales dip a bit, Homebuyers running into financing problems

Kelly Hagglund (The Kelly Group) — Wed, 07 Oct 2009 19:37:27 -0500

This last week pendings were down 31% from the week before.

However we had two pendings in the over 400K mark.

3 out of the 20 pendings were Bank Owned while 2 out of the 13 solds were Bank Owned.

We had a showing on one of our million listings this last week and we had more showings on our under $200,000 homes.

Many of our transactions have encountered Buyer financing problems. This is a tough time that requires experienced Lenders and Brokers and communication with the Real Estate Broker. I believe Sellers are the most at risk to be hurt when something goes wrong and it has never seemed fair.

It is very difficult to fireproof a transaction for a Seller, much easier for a Buyer. Extensions for closing and other hic-ups are very common. So when we finally get an offer the roller coaster ride doesn’t end until the Seller gets their check and the Buyer gets their keys!

Real Estate market remains stable and steady ... Good News! 11 pending homes in McMinnville, 8 in Newberg

Kelly Hagglund (The Kelly Group) — Thu, 01 Oct 2009 15:34:10 -0500

Things have definitely remained stable this last week.

Pendings were up a bit in the lower range and one Yamhill County property sold over $400,000!

This was actually one of our listings!

Distressed properties have also remained steady over the last month in our area.

Over the weekend we set up quite a few showings some in the lower price range and some over a million, it is looking good!

Last week for the $8,000 tax credit!

Kelly Hagglund (The Kelly Group) — Thu, 24 Sep 2009 14:51:48 -0500

Time is running out!

The government has already stated that extending the 1st time homebuyer tax credit is not a priority and with home sales increasing in all price categories, extending or increasing the credit may not be a good idea anyway!

So the time is now.

To capitalize on the current tax credit and get your money this year a house must CLOSE by December 1st

Based upon the average 60 day close, and subtracting that from our Tax Credit Countdown- we are, at this moment, left with about 1 week for prospective buyers to initiate offers and still hope to close in time to get $8,000.

For those that are still on the fence or waiting to see if the tax credit is increased, imagine an $8,000 gold bird and remember that

"$8,000 in the hand is better than $15,000 in the bush" :)

plenty of Tax Credit info and qualifying homes at www.TheKellyGroup.net

homes sales and pending in all price ranges in newberg and Yamhill County!

Kelly Hagglund (The Kelly Group) — Thu, 24 Sep 2009 13:33:59 -0500

Good activity last week! Newberg homes sales and pendings increased in all price ranges. This is great news for the market and economy. Most of the activity is in the under $250,000 range, but with the $8,000 tax credit expiring soon we should see even more activity in ALL price ranges!

People are capitalizing on the great home deals out there! but there are lots more (no pun intended) :)

visit the ALL NEW TheKellyGroup.net to freely search ALL RMLS and WVMLS listings and see the great deals in Oregon!

8k tax credit nearing its end, house showings up, activity increasing in Yamhill county,

Kelly Hagglund (The Kelly Group) — Tue, 15 Sep 2009 16:53:43 -0500

Yamhill County in Review:

Showing activity was up but pendings and solds were down, that means the best priced and the most valuable amenities will get the next round of pendings!

Good news is that there was a closed sale in Yamhill County over a million dollars!!

The tax incentive for first time homebuyers is drawing to a close and interest rates are still decent.

We have a countdown to the end of the Tax Credit on our new website - TheKellyGroup.net it is currently at 76 Days! ... with the way things are going, buyers should give themselves 60 days to close ... a little more for new construction.

In order to get the tax credit the home must CLOSE before December 1st, 2009. So smart buyers looking to get an extra $8,000 should be pretty active the next few weeks!

If you know a first time homebuyer now may hold the greatest opportunity.

If interest rates go up it could cost a buyer more over the life of a loan … even if the feds extend or increase the incentives.

more first time homebuyer and tax credit info on our website

Enjoy every last ray of sunshine!!!

Kelly

Yamhill County home sales and pendings continue on track, First time homebuyer tax credit is nearing its end

Kelly Hagglund (The Kelly Group) — Wed, 09 Sep 2009 10:59:24 -0500

Hope you stayed dry in our liquid sunshine holiday this weekend!

Showings slowed down a bit this last week and the number of pendings and solds were the same. All mirrored last week’s price categories.

Some great deals out there right now, the first time homebuyer tax credit is nearing its end so if you know anyone who is eligible now is the time to act.

In order to close by the end of November your co-workers, family and friends need to get an offer on the table.

If it is a distressed property or new construction then it may take longer than you might think to close!

Give us a call or email or visit our website to search all homes for sale in Yamhill County

Bank owned sales up, upper price range homes increasing in interest

Kelly Hagglund (The Kelly Group) — Fri, 04 Sep 2009 16:07:51 -0500

A little late this week but things have been busy!!

Spending a lot of time following up on interest and trying to get people to write offers!!!!

I also wanted to make sure that you have the monthly recap as well.

Things remain relatively steady in the first time homebuyer range, and in the upper price ranges the chart does not necessarily reflect more activity, but I know that we have had more showings and interest in our higher price ranges than in the last six months prior.

Bank owned closed sales are up a bit overall, but the active bank owned properties remain steady. The media is more positive which can help us, when Buyers have some assurance the world is not coming to an end, they get to the negotiating table!! We have seen and are anticipating multiple offers on properties as well.

We also have had some substantial price reductions all across the board which should stir up additional interest.

Enjoy the Yamhill County sun while we have it!

Kelly

home sales increasing in Yamhill County! pendings, solds, and mortgage rates may continue to rise

Kelly Hagglund (The Kelly Group) — Mon, 24 Aug 2009 12:50:00 -0500

This last week brings us a tiny bit more activity than the previous week.

We are happy to see any amount of improvement!!!

Yamhill County still has a significant amount of inventory, 9.4 months to be exact!

That means that at the rate inventory is selling today, it would take 9.4 months to sell all existing homes. So before We as sellers get too excited about the increased activity, we have to sell a lot of inventory before it becomes a Seller’s market which we long for again!! (3 months of inventory)

A note of interest, out of the 25 pendings last week there was one 3rd party sale, and four bank owned. Out of the 22 solds two were 3rd party sales and one was bank owned. Over 10% of activity was distressed homes.

In the lending world, Friday’s weakness may increase rates next week. We had a few showings in our over $400,000 price range this last week so this is encouraging, if no one looks then the chances of a sale are slim!!

Have an amazing week!

Kelly

“Keeping your home in front of the world every minute of everyday!!”

pending home sales increasing in yamhill county, not only cheap homes, but in many price ranges

Kelly Hagglund (The Kelly Group) — Wed, 19 Aug 2009 13:37:05 -0500

I know this is a little late, but things have picked up a bit and that makes doing the research a bit tougher!

This last week brought more action in prices ranges over $200,000!!

Inventory is down a bit and new listings are also down, which can mean good things for the selling side. If inventory goes down substantially then we may see an improvement in the market for Sellers.

No new pendings for lots and lands and the ones that have closed were below the 200K mark.

I talked with several appraisers last week and they are seeing some improvements in some pockets of Portland. Lets keep our best foot forward and hopefully we can pick up some action!!

Have a most enjoyable week!!

Kelly

Events This Week:

Inflation Low

Retail Sales Fell

Productivity Rose

Manufacturing Up

Mortgage Rates Move Lower

Tame inflation data, strong demand for the Treasury auctions, and a lack of surprises from the Fed were all positive for mortgage markets, and mortgage rates ended the week lower. As expected, the Fed held the fed funds rate steady on Wednesday, and its statement contained few changes. The Fed suggested that economic activity is "leveling out", rather than continuing to decline, and the Fed expects that inflation will remain subdued due to unused capacity in the economy. Of note, the Fed decided not to increase its $300 billion Treasury purchase program, which will end in October. No changes were announced for the $1.25 billion mortgage-backed securities (MBS) purchase program, which is set to conclude at the end of the year. Mortgage rates are largely determined by MBS prices, and the added Fed demand for MBS has helped keep mortgage rates low. Investors will soon need to hear what the Fed plans to do with the MBS purchase program. The direction the Fed chooses could have a significant impact on mortgage rates later in the year. The economic data released during the week was favorable for mortgage rates. The July Consumer Price Index (CPI) inflation data was unchanged from June, and Core CPI, which excludes food and energy, rose at a tame 1.5% annual rate. Current inflation levels are not a cause of concern for investors. July Retail Sales dropped slightly from June. Excluding autos, the results fell well short of expectations.

Provided by

Brian Campbell

KeyBank Mortgage

Free concert Tomorrow in Newberg - Sponsored by The Kelly Group

Kelly Hagglund (The Kelly Group) — Mon, 10 Aug 2009 17:04:27 -0500

Free Concert! Ben Rice Youth of Blues will be performing at Tunes on Tuesday August 11, 2009.

Sponsored by The Kelly Group Keller Williams Realty and Chehalem Valley Chamber the event runs 6-8:30 pm at Rotary Centennial Park (behind the Newberg Library).

In addition to fine music, Chehalem Farmers Market vendors will be open from 5-8:30 pm with local produce, crafts, and gifts. Bring your own blanket, low profile lawn chairs and picnic, or purchase food and beverages from vendors on site. (OLCC prohibits bringing in outside alcohol.)

Admission is Free and The Kelly Group will Have Free Giveaways to all who visit our booth!

5+ Showings set up Last Night! Yamhill County Real Estate Stats picking up?

Kelly Hagglund (The Kelly Group) — Mon, 10 Aug 2009 17:02:30 -0500

After a week long dry spell with very few showings on listings, last night after 8:30 I set up over 5 showings!!

The stats remained virtually the same except that Lots and Land had more activity than normal.

There was one pending in McMinnville over 600k which is very encouraging!!

Rates are still very good and inventory is slowly going down which also helps our cause as Sellers.

Kelly

Hope the real estate market starts to heat up like the weather in Yamhill County!

Kelly Hagglund (The Kelly Group) — Mon, 27 Jul 2009 16:19:26 -0500

I hope you stayed relatively cool this weekend, I was a clown at the Old Fashioned Days Parade and made over 130 animals balloons for kids waiting in line for the Rotary Pancake Breakfast! I have to say 20 years on a clown makes a difference!!!

As far as last week’s activity it really does mirror the week before. Only one pending over 400k and that was in Yamhill County but had a Sherwood address.

Showings were down this last week and most pendings again are under the $200,000 mark. You can actually purchase a house with a list price below 70K!

Have a great week,

Kelly

Most of the pendings and solds last week in Yamhill County were below $250,000.

Kelly Hagglund (The Kelly Group) — Mon, 20 Jul 2009 15:05:55 -0500

Yamhill County in Review!!

Just got back from Mississippi where my youngest son was married.

I have to say that living in Oregon is like a little bit of heaven!!

Inventory is up this week in both residential and lots and land, as well as bank owned.

Consistent with recent history most of the pendings and solds last week were below $250,000.

I also included how many actives are on the market in each price category which is quite interesting!

Mortgage rates are good, prices are good, everything is good for a purchase, tell everyone you know that things can’t get a whole lot better!

Have a great week!

Kelly

First Time Home Buyers Continue to Drive the Real Estate Market in Yamhill County

Kelly Hagglund (The Kelly Group) — Mon, 13 Jul 2009 13:21:41 -0500

“After all is said and done, usually more is said than done.”

This week’s activity in Yamhill County was almost the same as last week only fewer closed transactions.

We see a significant jump in bank owned properties entering the marketplace.

I may sound like a broken record but most of the sales again last week were below $250k. First time homebuyers are taking full advantage of the great deals, low interest rates and Buyer incentives.

Now is the time to be buying rentals near colleges for student rentals. If you have a child going to college talk to a lender on how to best accomplish a sale and future investment!

For those who have homes above 250k there is hope! We have had a small amount of looking activity in the higher price ranges this week. We had an several offers that started out ridiculously low but we are working them up!!

Our Sellers seem to be wise in not following the market all the way down but have been pricing their homes ahead of the market and staying on top of it. When that buyer comes along we are finding they are looking at our properties. We have had some significant price reductions this week!!!!

If you were a Buyer looking to purchase but waiting to pull the trigger what would it take for you to make the decision to write that offer??? THAT IS PRECISELY WHAT WE ARE WORKING TOWARDS!!

Have a great week!

Kelly

**A mortgage review from one of our preferred lenders: http://www.utipu.com/app/invited/id/80497b7a

4th of July Holiday week Real Estate action

Kelly Hagglund (The Kelly Group) — Tue, 07 Jul 2009 18:46:40 -0500

Hope you all had an amazing 4th of July!!

New listings were up a bit this week, so were bank owned on the market. Pendings were down slightly but the majority of the pendings again this week are below the 200K mark.

Wow…people are getting some great deals!!!

You may be thinking not good for a Seller…but remember this… give on the selling side and you buy in the same declining market (location similar to ours) you really won’t have an equity loss.

If you are buying up you can really gain equity advantage right now! Competitive Seller pricing is the key to snatch those few Buyers out there.

If you know anyone that is thinking of buying NOW is THE time to buy! Interest rates go up, inflation goes up and we will be surprised at what our buying dollar doesn’t do.

Get the word out to ALL…and by the way have them look at your home if you have it listed :)

Have a great week…

Kelly

Good Weather brings more showings and movement

Kelly Hagglund (The Kelly Group) — Tue, 30 Jun 2009 12:48:20 -0500

With the good weather we have seen a slight pick up in showings, and looks like in Yamhill County a steady line of pendings!

If your home is listed under $200K then you can be assured if you are priced right your home will sell this summer!!

For the rest of the Sellers out there we have the best chance of selling right now if we are priced correctly.

A minor trickle of activity over 300K so that is encouraging. Vacants are up another percent, third party listings and bank owned seemed to be holding.

On the lots and land front we see a few more pendings, one in the higher priced range.

One thing that we have seen in abundance is deals going together only to fall apart due to appraisal, inspection or buyers getting cold feet.

I have talked to other agents and offices and we are seeing this across the board and in other Oregon areas.

We have seen a increase in relocations as well now that school is out. It is still one of the most ideal times to purchase real estate…and the buyers seem to be poking their heads out to take a look at what is out there!

More Inventory Hits Yamhill County!

Kelly Hagglund (The Kelly Group) — Mon, 15 Jun 2009 18:39:30 -0500

Last week we had 8 new listings and this week we had 45!!

Pendings were up 6 and solds were up 7.

39% of the inventory is vacant up just a bit from last week!

We have 11 months of inventory on the market right now.

That means that if we had no new listings come on the market after today, it would take 11 months to sell what we have listed.

It is definitely a Buyer’s market, we just have to get that through to BUYERS!!!

If interest rates continue to climb, the buyer power will diminish!!

We are getting the word out, but we need your help as well!!

Have a great week!

Kelly