Housing prices in our market started to decline in late 2007. The average Lake Oswego sale price fell 4.5% in 2008 and through the first 6 months of this year it has decreased another 13%.
|
Year |
Average Sale Price |
Real Buyers |
|
2005 |
573,443 |
756 |
|
2006 |
682,144 |
634 |
|
2007 |
739,801 |
598 |
|
2008 |
692,828 |
384 |
|
through June 2009 |
563,862 |
146 |
We are in a strong buyers' market with sellers vying for the attention of buyers by beating the competition in price and condition.
In addition to the decrease in the number of potential buyers, those that can "afford" to sell are faced with competition from:
Distressed Property Information -zip codes 97034 and 97035
Currently Listed For Sale in RMLS
Bank Owned Properties 10
3rd Party Approval Required -short sale? 46
From Real Quest Investor Data
Received Notice of Default 3
Date Set for Auction on Court House Steps 305
REO Properties -bank owned 10
Stricter appraisal regulations were enacted earlier this year resulting in lower mortgage appraisals. Comps used for appraisal purposes have to be within the last 90 days and the appraiser must note that the local market is in a decline and make a deduction for that. The standard Oregon sale agreement states, "If a new loan is required, this transaction is subject to buyer and property qualifying for the loan and the lender's appraisal being not less the than the purchase price."
Although we are in a challenging market, there are buyers looking and activity seems to be picking up. Good homes, presented and priced well are selling.
Principal Broker with Windermere Cronin & Caplan Realty Group, Inc. specializing in residential properties in the Portland Oregon market. Accredited Buyer's Representative (ABR)
I help clients in the Portland Oregon area with a focus in Lake Oswego, West Linn, Tualatin and Wilsonville.
Real estate is a personal service business and finding an agent you are comfortable with is important and similar to connecting with a good attorney, accountant or financial advisor. I am easy to contact and will respond promptly to your inquiry. If we are working together on a transaction I will be especially attentive to moving it along smoothly. My goal is to make the process of buying, selling, or owning a home efficient, enjoyable and rewarding for you.
Put my experience on your side.
I have a couple of weblogs going (most of the blog posts are duplicated); one here on ActiveRain and another you can visit at Lake Oswego Real Estate Weblog - Lake Oswego, West Linn, Tualatin and Wilsonville real estate: market conditions and recent trends, interesting items and living in Portland Oregon.
Oregon Agency Disclosure Pamphlet
New Homes: representing buyers, builders and developers
Resale Homes: representing both sellers and buyers
Photos of kitchens in new homes I've marketed.
I appreciate the kind words these clients have allowed me to share.
"We weren't even looking for a realtor when we met Mark, but it was his warm, genuine, low key style that instantly made us feel comfortable and want to work with him. Mark was extremely professional and detail-oriented throughout the sale and purchase of our homes which gave us great comfort and peace of mind knowing we were being well taken care of. Mark helped us price our home in such a way that we sold it in one week and ABOVE market value! He also helped us secure a lot that was not even on the market yet. I would certainly recommend Mark to anyone looking for an honest, trustworthy realtor." Aaron and Allyson F. "...I have known Mark Miller for almost 20 years. He helped me sell my first house. His professionalism and knowledge is second to none. His personality is warm and friendly which is why I highly recommend his services to anyone that might need them. Simply put: Mark is the best." Norm W.
"Mark Miller is the best, most trustworthy, hardest working Realtor we have ever worked with. We bought our current home from Mark. We spent almost a year looking at dozens of homes and Mark's patience, expertise and straightforward counsel was really effective and appreciated. I wouldn't use anyone other than Mark to buy or sell. He is a great listener and trusted advisor." Mike & Sue G.
"Mark has helped me to buy 2 houses so far, and I felt safe, taken care of and trustful he was working on my own best interest. Never felt pushed or hurried to make a decision. I really appreciate his work and if I'll buy and/or sell again, for sure he'll be the agent I'll choose to help me. I grade his work excellent, superior." Angela S.
"If I had to sum up my experience working with Mark in a few keywords, it would be honesty, great follow-up, great communication, reliable and very pleasant to work with. Basically, Mark just provides great customer service! It's been over 2 years since we closed our deal, and Mark is still very helpful in getting us information whenever we ask. I highly recommend his services to anyone buying or selling. Mark sure made our deal go a lot smoother. Did I mention the great customer service? Worth mentioning twice! :-)" Travis T.
"Knowlegable. Trustworthy. Highest level of service. We were 100% satisfied with Mark Miller." Jeff S. and Loralee C.
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