Tag Archives: National Association of REALTORS

OOPS…Not So Fresh Lately!

Busy Times!

Busy Times!

For those of you that have tried blogging, you know it can be challenging keeping up. My most recent FRESH BLOG was back in November! Soooo, for those of you that are avid fans of my blog and that call me to complain when I am late in posting (that’s pretty much just my business accountability partner Jim)…I sincerely apologize for the delay!

It is for good reason that I am behind. Real estate is BUSY! I had several calls in December from sellers that wanted to sell and buyers that wanted to buy. When January came along and the holidays were officially over, I was off and running. In January and February, I had four listings go on the market and each listing received multiple offers within one or two days of hitting the market! Thank goodness for my incredible Transaction Coordinator…the paperwork is a nightmare in multiple offer situations.

Since then I have had two additional listings hit the market and several buyers that are actively searching. These buyers are learning very quickly that if they don’t make a fast decision about a new listing on the market, it will be GONE.

The real estate headlines are all saying that as well. There is an inventory shortage in Portland Metropolitan and interest rates are low. These are the main factors driving the bee hive of activity.

It is an opportune time to sell for many that have been waiting AND it’s still a great time to buy if you are committed, pre-approved and ready to act fast.

Have a great March!  Sincerely……… Kevin    www.KevinGormanSells.com

P.S. –  I stopped in at an open house this past weekend and it was buzzing with activity. There must have been 15-20 people that visited at the same time as me… and I was only there for about 15 minutes.. I took the picture below of the entry on my way out! Needless to say the home was listed as “pending” 3 days later.

Open House Shoes

Open House Shoes

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Filed under Buying a Home, Kevin's Life, Oregon Real Estate, Portland Real Estate, Real Estate and More, Selling a Home, The Economy

Distressed Listings and Sales Breakdown

Portland Metro when comparing percentage share of the market  1st quarter of 2011 to 1st quarter of 2012

  • When comparing the first quarter of 2011 to 20112 distressed sales as a percentage of new listings decreased by 0.5% (31.5% v. 31.0%).
  • In a comparison of the first quarter of 2011 with the same period in 2012, distressed sales as a percentage of closed sales decreased by 2.5% (41.7% v. 39.2%).
  • Short Sales comprised 16.1% of new listings and was down 0.2% from 2011. However, the percentage of sales rose from 9.9%  in 2011 to 13.5%  in 2012, a 3.6% rise.
  • Bank Owned properties comprised 14.9% of new listings and 25.7% of sales in first quarter 2012, down 0.3% and 6.1% from 2011, respectively.

RMLS coverage area is defined in map below:

                               * All information provided  by the RMLS.

As a Certified Distressed Property Expert (CDPE), I have specialized training and experience helping people buy and sell distressed properties. Please contact me if I can answer your questions.

All my best,

          Kevin

KevinGormanSells.com  

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Filed under Distressed Housing

Portland Metro Rental Vacancy 2nd Lowest in U.S.

Experienced and beginner residential property investors are coming out to play in the local market. Homes below $200k are selling quickly, and in many cases after multiple offers have been presented to sellers. First-time buyers are also trying to stake their claims. The low interest rates, low prices and higher rental rates have created the beginning stages of a housing shortage in that price range.

I am currently working with first time buyers and investors in that price range. What we have discovered is that it is important to react immediately to new listings on the market.

Here is a link to a recent Oregonian article by Elliot Njus about rental vacancy rates in our area: Metro Area’sRental Vacancy 2nd Lowest in U.S.

Have a great weekend ~    Kevin         www.KevinGormanSells.com

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Filed under Oregon Real Estate, Uncategorized