Tag Archives: REO

Whoda Thought?

It keeps coming up with every buyer client this year so I thought it was time to get it into Fresh Blog.

For several months we have been noticing it here in Portland Metro and now we are seeing it in the other national news as well. There is a shortage of home inventory. The homes that show well and are priced right are selling almost immediately… and often with multiple offers to the seller. The shortage seems to be most prevalent in the lower to mid price ranges.

If you are currently house hunting and you find a good one that you love, don’t delay. Have your REALTOR write the offer immediately and try to lock that seller in. You will have a contractual time period to inspect the home (in Oregon usually 10 business days) and back out if you need to.

Buyers that are slower to decide, or that are shopping without a lender pre-approval letter in hand, are losing out to buyers that are organized and ready to pull the trigger.

Check out this recent Los Angeles Times article: Home Inventory Shortage

Enjoy today….

and if you can…

Kevin Gorman   www.KevinGormanSells.com

Advertisements

Comments Off on Whoda Thought?

Filed under Buying a Home

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  

Comments Off on Distressed Listings and Sales Breakdown

Filed under Distressed Housing

Say “Yes” to Landlord Insurance

  • Understanding Landlord Insurance

    Turning your home into a rental or buying an investment property? Expect to pay up to 20% more for the right insurance policy to protect your property. Read

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

All my best, Kevin  www.KevinGormanSells.com  www.ItsaMatterofTrust.com

It’s a Matter of Trust

GORMAN-ROSS Real Estate Network ~ Available to answer all of your real estate related questions!

Comments Off on Say “Yes” to Landlord Insurance

Filed under Real Estate and More