Tax Credit Deadline - 08/31/09 06:27 PM
Everyone should now know about the economic stimulus package, the credit is good for up to $8,000, or 10% of the purchase price, and applies to people who have not owned a home in the previous three years. Unlike previous credits, this one does not have to be repaid.  Obviously this is something you want to get in on if you can, which is exactly the point.
This program ends on Dec. 1st, and because it usually takes around 90 days to close on a house after a contract is signed, some potential buyers are about to let an opportunity pass … (0 comments)

13672 SW Willow Top Lane, Tigard OR - 08/28/09 11:58 AM
… (1 comments)

Looking Up - 08/25/09 11:26 AM
It looks as thought the housing market maybe turning around.  Home prices posted their first quarterly increase in three years.  The Standard & Poor's/Case-Shiller's U.S. National Home Price Index released Tuesday rose nearly 3 percent from the first quarter.

Home prices are about the same level as early 2003.  While this is much lower than the peak in 2006, those numbers were inflated anyway.
Las Vegas and Detroit were the only two of the 20 city index that did not see home prices rise, while Dallas and Denver clocked their fourth-straight monthly increase.
We still have a long way to … (3 comments)

The Bright Side - 08/20/09 06:09 PM
Homes have not been this affordable in nearly two decades.  In the second quarter of this year the typical American family, making the nation's median income of $64,000 a year, could afford to buy 72.3% of all homes sold in the United States.  The same time last year it was only 55% of homes.  This affordability, combined with the federal tax credit and historically low mortgage rates, is drawing in the first-time buyers.
Affordable specifically means a family making the metro area's median income who devote no more than 28% of their take-home pay toward housing costs.
The reason for this … (0 comments)

Portland Market Report - 08/14/09 02:35 PM
July Residential Highlights
 
Closed sales in the Portland metro area for July 2009 eclipsed last July’s total by 8.6%, marking the first time same month closed sales have increased since April 2007. Pending sales also grew 8.3%. New listings dropped 25.4%. Comparing July 2009 with June 2009, closed sales increased 11.9% (1,988 v. 1,776) and pending sales were up a slight 0.3% (2,170 v. 2,164). New listings fell 8.2% (3,907 v. 4,257). Inventory was down to 7.3 months, dropping for the sixth consecutive month, down from 10 months last July. Inventory is falling at a time where it has historically … (0 comments)

Suburbia - 08/10/09 07:03 PM
A new study by the Pew Research Center has found that those who call the suburbs home are noticeably more satisfied with their community than those of cities, small towns or rural areas.
The study shows that 42 percent of suburbanites give their community high marks.  The categories include cost of living, a place to raise kids, recreational/outdoor activities, climate, shopping, cultural activities and social connections. 
31 percent of Americans live in a city, 26 percent in the suburbs, 26 percent in small towns and 16 percent in rural areas.  Oddly, 30 percent say they would prefer to live in a … (2 comments)

 
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Tony and Libby Kelly, CRS, ABR, ePro, SRES, CLHMS, CDPE

Lake Oswego, OR

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Keller Williams Realty Portland Premiere

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In this forum we will offer discussions on a wide variety of subjects, but focus on Portland Metro and real estate. Hopefully our insights and experiences will inform, educate, challenge and entertain our readers week after week.


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