Monthly Archives: September 2010

Portland Metro Market Update

Portland metropolitan real estate market facts:

Comparing January through August 2010 to January through August 2009

• Average sales prices decreased -5.1%. (2010 = $284,200 / 2009 = $299,600)
• Number of closed sales increased 14.7%.
• Pending sales increased 4%
• Number of new listings increased 6%

Comparing the month of August 2010 with the month of August 2009
• The average sales price increased 1%
• Number of closed sales decreased -25%
• Pending sales also dropped -21.7%
• Inventory Aug 2010 = 11 months / Inventory Aug 2009 = 7.8 months
(Inventory of 6 months is considered a normal market by many)

• Average DOM (days on market) 2010 year to date = 130 days

Lack of consumer confidence is more evident since the tax credit ended. The inventory on the market is increasing while the number of closed sales dropped off in recent months.

Interest rates are spectacularly low. Prices are way down. Supply is high.  This is the time when the rich get richer!

All my best~

Kevin Gorman www.KevinGormanSells  or

 GORMAN-ROSS Real Estate Network

*Information retreived from the August 2010 RMLS Market Action Report.


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Just In Case-Make A List

Do you know the value of your personal belongings? Do you have a list of what you own? Hmmm…did I just trigger some anxiety?

For those of you that don’t yet have a list, there is a great FREE software tool to help you keep track of everything that fills your home. Furniture, jewelry, artwork, computers, musical instruments, even your most cherished collectables… 

 …whatever they may be (and no, these are not my dolls).

The  “What You Own” software will help you easily create a room-by-room inventory and establish replacement costs in case you have an insurance claim. Now, this is the point where I knock on wood, because I hope that you should never need to actually use the list. However, if the contents of your home were destroyed in a fire or items were stolen in a burglary, you will be grateful that you have an inventory. With this software you can even add pictures of the items or copies of receipts.

One last tip, make sure you keep a copy of your list in your safe deposit box or with a close friend or relative.

Here ‘s that link again:

I hope this helps. ~ All my best,

Kevin Gorman or

GORMAN-ROSS Real Estate Network   

Always available for your real estate related questions or referrals.


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