Masterpiece Revealed: Corey Martin + PATH Architecture!
August 8th, 2012
What an extraordinary modern home! I made a 60-second mad dash up 3 floors of this totally orchestrated warm and modern masterpiece to the rooftop with a view towards every direction of the city. I wish I could have stayed longer, but the airport was calling. I love this house!
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New Construction Statistics
August 7th, 2012
Detached Home Sales by Price Band – July – Multnomah County
August 5th, 2012
The majority of listings under $900,000 are in a normal seller’s market. It doesn’t mean don’t prepare your home properly to sell, it means that with your listing properly prepared for today’s market it will sell in under 6 months. This is one of many charts I prepare for the region to stay on top of the trends.
Active Listings Snapshot
August 1st, 2012
Distressed Property Report
July 1st, 2012
Housing on the Rebound
April 17th, 2012
Housing on the Rebound
Be Empowered – Know Your Market!
October 1st, 2011
It’s important to analyze the market when listing a property for sale. You do not want to think you are automatically in a buyer’s market when it could be quite the opposite. Take a look at some of the changes that have occurred between August and September in Multnomah, Washington, Clackamas and Clark County. You will see that when you are empowered with real numbers, only then do you understand your market. That’s why the majority of homes sit for long periods of time without selling. They are not priced to sale.
THE MARKET IS CONSTANTLY SHIFTING. KNOW WHERE YOU STAND.
Multnomah Co. – Detached Homes
400-500k: WAS seller’s market, NOW buyer’s market
600-700k: WAS balanced market, NOW extreme buyer’s market
700-800k: WAS extreme buyer’s market, NOW balanced market
800-900k: WAS balanced market, NOW extreme buyer’s market
(nothing selling over 2 MIL)
Overall: WAS seller’s market, NOW balanced market
Multnomah Co. – Condos
100-200k: WAS balanced market, NOW extreme buyer’s market
400-500k: WAS seller’s market, NOW extreme buyer’s market
800-900k: WAS seller’s market, NOW extreme buyer’s market
(nothing selling over 2 MIL)
Overall: balanced market (no changes)
Washington Co. – Detached Homes
400-500k: WAS seller’s market, NOW buyer’s market
500-800k: WAS balanced market, NOW extreme buyer’s market
800-900k: WAS extreme buyer’s market, NOW seller’s market
(nothing selling over 2 MIL)
Overall: WAS seller’s market, NOW balanced market
Washington Co. – Condos
200-300k: WAS seller’s market, NOW buyer’s market
(nothing selling over 300k)
Overall: balanced market (no changes)
Clackamas Co. – Detached Homes
300-500k: WAS balanced market, NOW extreme buyer’s market
2-3 MIL: WAS extreme buyer’s market, NOW balanced market (interesting since 1-2 MIL range has 57 mo. of inventory)
(nothing selling over 3 MIL)
Overall: WAS balanced market, NOW normal buyer’s market
Clackamas Co. – Condos
200-300k: WAS balanced market, NOW extreme buyer’s market
400-500k: WAS buyer’s market, NOW seller’s market
(nothing selling over 600k)
Overall: balanced market (no changes)
Clark Co. – Detached Homes
No drastic changes
(nothing selling over 2 MIL)
Overall: balanced market (no changes)
Clark Co. – Condos
100-200k: WAS seller’s market, NOW buyer’s market
300-400k: WAS seller’s market, NOW extreme buyer’s market
(nothing selling over 3 MIL)
Overall: WAS seller’s market, NOW extreme buyer’s market
Homeownership: Still the American Dream
August 16th, 2011
Homeownership: Still the American Dream
by THE KCM CREW
Yesterday, Fannie Mae released theirNational Housing Survey for the second quarter of 2011. They survey the American public on a multitude of questions concerning today’s housing market. Each quarter, we like to pull out some of the findings we deem most interesting. Here they are for the most recent report:
Most Important Reasons to Buy a Home
When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:
- It means having a good place to raise children and provide them with a good education
- You have a physical structure where you and your family feel safe
- It allows you to have more space for your family
- It gives you control of what you do with your living space (renovations and updates)
The Home as an Investment
Though most people purchase a home for non-financial reasons, everyone realizes there is a money component to homeownership. Here is what they said on this issue:
- 65% of the general population (and 67% of homeowners) believe that homeownership is a ‘safe’ investment.
- 56% believe that homeownership has more potential as an investment than any other traditional asset class.
- 69% think that now is a good time to buy a home (this number has increased in each of the last two quarters)
Rent vs. Buy
We are always interested in the difference people see in renting vs. owning.
- 63% of renters have aspirations to someday own their own home
- 72% of renters think that owning is superior to renting
- 95% of homeowners see homeownership as a positive experience (4% see it as a negative experience) while 82% of renters see renting as a positive experience (17% see it as a negative experience)
- 96% of homeowners live in a single family residence while 46% of renters live in a multi-unit building
Bottom Line
Even in difficult times, Americans still realize the value of homeownership.
FSBO (for sale by owner) a No Go!
August 9th, 2011
FSBO a No Go!
by THE KCM CREW
This blog prides itself on the quality of real estate information we deliver each and every day. We try to gather empirical evidence to validate the positions we take. We do not use just an anecdotal story to make a point. We also do not get caught up in the sensationalism of the moment. However, today will be different.
We can’t resist commenting on the storywhich recently appeared in the Wall Street Journal regarding Colby Sambrotto, the founder and former CEO of forsalebyowner.com. It seems the founding father and lifelong evangelist of the concept of selling your home without a real estate agent was forced to hire a broker to sell his home after failing at what he preaches others should do.
After failing to sell his NYC apartment on his own as a For Sale By Owner (FSBO), Sambrotto hired a broker and paid a 6% commission in order to get the job done. His personal experience helps refute some of the myths Sambrotto has been espousing for over a decade. Let’s look at two of those myths:
Myth #1 – You Will Pocket More Money Selling on Your Own
Most FSBO sites say you can save the commission by selling on your own. What happened in Sambrotto’s sale?
From the WSJ article:
“The broker, Jesse Buckler, said he told Mr. Sambrotto the apartment in the Lion’s Head building on West 19th Street near Sixth Avenue was priced too low and wasn’t drawing the right buyers.
By May, it went into contract, he said, after attracting multiple offers. It closed in the last few days for $150,000 more than the original asking price.”
Myth #2 – The Internet Alone Can Sell Your Home
Many have said that, with the introduction of home search on the internet, hiring an agent is no longer a necessity. What happened to the FSBO guru when he attempted to only depend on the internet?
From the WSJ article:
“Looking to move his family to the suburbs, [Mr. Sambrotto] said he carefully staged his apartment for sale himself, and put it on the market. But after using a mix of websites to publicize his apartment, he said he had only ‘middling success’ and switched to a broker because many buyers were so reliant on brokers.”
Bottom Line
There is a reason the real estate industry has been around for centuries: it performs a valuable service.
P.S. We are putting together an infographic on this story for later this week. Check it out on Friday.
Real Estate Trends – July 2011
July 31st, 2011
[youtube width=”640″ height=”390″]http://www.youtube.com/watch?v=ywrRpnQy4AM[/youtube]
CBS Money Watch: Buyer's Market
NPR - Good Time to Buy a Home
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