Sherwood Oregon Home Value Update
August 2009
Sherwood has been and continues to be a desirable place to live. It has seen some of the fastest growth in the state of Oregon, and most of it has been residential homes. People moved to Sherwood to live, not necessarily to work. With the economy tanking, many homes went into foreclosure and people moved out. This left us with a lot of stagnant properties that until recently, weren't moving.
But there seems to be some positive news according to Zillow.com. Below is a chart of their estimated Sherwood Oregon home values from June of 2008 through May 2009. From what I have seen, we can expect even better numbers for June and July.
|
Zillow Home Value Index Sherwood Oregon
|
| Type |
Current |
Month Over Month |
Quarter Over Quarter |
Year Over Year |
| All Homes |
$264,600 |
0.30% |
0.14% |
-13.75% |
| Single Fam |
$272,400 |
0.43% |
0.37% |
-12.71% |
| Condo |
$176,700 |
0.93% |
0.86% |
-13.04% |
| Two Bed |
$178,000 |
0.12% |
-1.39% |
-18.69% |
| Three Bed |
$247,300 |
0.05% |
-0.36% |
-13.99% |
| Many Bed |
$380,100 |
0.61% |
0.74% |
-11.21% |
It's interesting to note that the hottest markets in Sherwood are the condo and the 4+ bedroom market. The condo market doesn't surprise me, but the 4+ does. I guess this just shows that those with money are able to take advantage of market opportunities. The market that is still seeing the slowest growth is the 3 bedroom home. These are often just out of price of First Time Home Buyers. This segment also seemed to have been hit especially hard by foreclosures and short sales..
But the good news is that each of these segments has seen positive month over month growth.
A question though is if a recent rise in Foreclosures filed will affect these values.
Buyers, you better get busy!! 100% financing is still available through the USDA Guaranteed Rural Home Loan program, as well as 3.5% down with the FHA. For more information on both of these programs click on the above links.
The $8000 Tax Credit is disappearing in a few months, so there is no better time than now to buy a home!!
Whether you are a First Time Home Buyer, or moving up to your next home, call me to get started, or click here to fill out a short form and I'll call you right back..
I work with some of the best Sherwood Realtors.
Larry Morris is a Certified Mortgage Planning Specialist with American Nationwide Mortgage Company in Newberg, Oregon. He specializes in USDA Guaranteed Rural Home Loans, FHA Purchase and Refinance, FHA 203k Rehab loans, Sect 184 Native American loans, Hobby Farm loans and conforming purchase and refinances in the states of Oregon and Washington.
He can be reached at 503-421-0096, or larry@PDX-Mortgage.com.
www.PDX-Mortgage.com
OR License ML-3259
WA License WA-510-LO-51175
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APR rates are subject to change based on lender's normal credit guidelines and market conditions.
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