Real Estate Talk Market Update for the Mid-Willamette Valley in Oregon (24 July 2008)

(1) "SOLD" statistics include both SOLD and PENDING

(2) Months of Inventory Calculation based on the rate of sales in the previous 90 days.

Albany

• SOLD/Pending (past 90 days) - 198
  • Average price - $212,992
  • Median Sale Price - $194,750
  • Average Days on the Market - 124
  • Average Dollar per Square Foot - $132.28
• Current Active Listings - 486
  • Average Price of Active Listings - $261,837
  • Months of Inventory - 7.36

Corvallis

• SOLD/Pending (past 90 days) - 154
  • Average price - $295,835
  • Median Sale Price - $271,000
  • Average Days on the Market - 108
  • Average Dollar per Square Foot - $166.53
• Current Active Listings - 253
  • Average Price of Active Listings - $343,488
  • Months of Inventory - 4.93

Lebanon

• SOLD/Pending (past 90 days) - 52
  • Average price - $171,001
  • Median Sale Price - $145,600
  • Average Days on the Market - 93
  • Average Dollar per Square Foot - $111.50
• Current Active Listings - 181
  • Average Price of Active Listings - $186,700
  • Months of Inventory - 10.44

Last - Thursday, July 24. Monthly Real Estate Luncheon. Guests will include Ana Norlander (Windermere Willamette Valley); Kelly Gardner (Pinnacle Mortgage); and Brent Norlander (Wells Fargo). Our topic will be FreddieMac and FannieMae, and the current conditions in the lending environment. Let us help you sort out all the hype...and get the right information to make a good decision in today's real estate market.

Upcoming Guests Scheduled:

August

• Saturday, August 2. Tentatively Scheduled-Polly Cappalo (Winderemere) - How to sell your home in a tough market. We'll be talking about creative marketing, home staging, effective pricing strategies, and giving sellers some insights into how to get that SOLD sign in the front yard.
• Thursday, August 7 / Saturday, August 9. Roland Brower (State Farm Insurance) is scheduled to be the guest. Our topics will include home owners insurance, getting the binder during the purchase process, Flood insurance issues, and a general overview of what types of coverage you need. *Encore airing on 9 August.
• Saturday, August 16 - Donna Jo Merrifield (Coldwell Banker Valley Brokers) Understanding the Earnest Money Agreement - what do all the clauses mean? How can you protect yourself and what you NEED to understand before you sign one (either as a buyer OR a seller).
• Thursday, August 21 / Saturday, August 23 - To Be Determined
• Saturday, August 30 - To Be Determined

Upcoming Show topics that I'm working to put together for you in August:

- 1^st Time Home buyer - Down Payment Assistance programs