Portland Metro/Tigard Real Estate News

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.

Wednesday, June 17, 2009

Portland Rocks!

We already knew that there were millions of reasons to love Portland Oregon, but now we have one more. Portland has been ranked the #1 city for the most courteous drivers! We are less likely to curse, honk or run red lights. But don't you all move here at once!

http://www.katu.com/news/local/48210792.html

PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com

Tuesday, June 16, 2009

Portland OR Market Report

May Residential Highlights

Sales activity in May for the Portland Metro area continued to march upward compared to the prior month, but lagged behind 2008 levels.
Comparing May 2009 with the same month in 2008, pending sales were down 7.4% and closed sales decreased 23.4%. New listings also dropped 25.1%.
On the other hand, comparing May 2009 with April 2009, pending sales grew 5.8% (1,967 v. 1,860). Closed sales also rose 9.6% (1,427 v. 1,302). New listings increased 1.9% (3,879 v. 3,808).
Inventory dropped to 10.2 months, down from 11 months in April – the fourth straight month of decline. Active residential listings in May rose to 14,493 - up from 14,328 in April. Active listings appear to be increasing at a slower rate than usual for this time of year.

Year-to-Date

Comparing January-May 2009 with the same period in 2008, closed sales were down 28.1% and pending sales decreased 17.5%. New listings also dropped 23.8%.

Sale Prices

The average sale price for May 2009 was down 13% compared to May 2008, while the median sale price also dropped 13%. Month-to-month, the average sale price and median sale price both posted small gains when compared with April levels; the average sale price was up 0.1% ($291,400 v. $291,100) and the median sale price was up 0.04% ($250,000 v. $249,900).

Wednesday, June 3, 2009

Pending Home Sales on the Rise

Due to low interest rates and an $8,000 tax credit for first-time home buyers, pending home sales have gone up for the third month in a row.

It varies greatly from one area of the country to another, here in the West the Pending Home Sales Index rose 1.8%, to 94.8, but is 2.9% below a year ago. A pending home sale is a contract for a home sale that has been signed but the home sale has not closed yet.

Total number of existing-home sales is expected to improve in general but some corners of the United States have already bottomed out and started to recover while others are still falling slowly.

Typically there is a one- to two-month lag between a contract and a done deal, so the index is a barometer for future existing-home sales.

It has noted that pending sales have increased, which is a sign that we're moving in the right direction, but that we are still drastically below where we were at the peak of the market. We probably should not be comparing our numbers to the peak of the market though. That was just the extreme the other way and ideally we'd like to be plain ol' steady.

http://www.businessweek.com/bwdaily/dnflash/content/jun2009/db2009062_031070.htm

PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com

Tuesday, May 26, 2009

Just HAS to be good!

There is a new restaurant in town and I will be heading over to try it out as soon as I possibly can. A BBQ chain call Famous Dave's has just opened up in Tualatin, Oregon that is not only adding 150 jobs but providing much needed BBQ to the SW area of Portland Metro.

Oregon has always had far too few BBQ joints so it makes sense for one of the chains to finally make it's way out here because if they are any good, I guarantee it will be extremely popular.

http://tigardtimes.com/news/story.php?story_id=124287187716194400

http://www.famousdaves.com/

PLEASE CHECK OUT OUR NEW PODCAST ON THE HOMEPAGE OF OUR WEBSITE http//:www.TonyandLibby.com

Thursday, May 21, 2009

Utilizing Lighting in Home Staging


Highlight Your Home with Lighting



When preparing your home for the real estate market, few things are as important as a good first impression. Anyone who has sold a home in the past will tell you that few methods are as effective as home staging. Home staging is the act of presenting your home in the most appealing way possible. While there are many ways to take advantage of home staging, one of the quickest and easiest ways is through the use of home lighting.



Even the most beautiful home may come across as mundane without the proper lighting. You want to create an inviting atmosphere for prospective buyers. The trick is to avoid relying on a single lighting source. If you combine both overhead lighting with accent lights, then you avoid the risk of your lighting becoming too harsh or too dim. Multiple lighting sources will help you achieve that warming glow you desire to help create the perfect ambience.

When lighting your home for potential buyers, you should also utilize the help of Mother Nature by incorporating as much natural light as possible. Sunlight is an instant mood lifter, so leave the curtains open and make sure your windows are clean. Sadly you canít always rely on the sun to help you showcase your home, but it is important to make the most of it when you can.



While the inside of your home is very important, you canít forget the outside as well. Use flood lights to shine a spotlight on your home and make it pop against the night sky. Not only will this help your home look more striking, but it will also make it easier to find at night. Sometimes address numbers can be hard to spot, especially at night. By illuminating your home once the sun goes down, you can assure that prospective buyers can find your home with little effort.



By utilizing simple home staging tips, you can easily get a leg up on the housing market. By sprucing up your home for buyers, you can be sure that you make a great first impression every time. Take a look at your home lighting scheme before your next open house. With a few simple tricks, you be able to make your home shine brighter than the competition.