Florence, OR

Hi everybody, it is that time again. I have compiled the statistics provided by the RMLSWeb for the sales last month in the Florence, Oregon area and added it to the report of the previous month's sales so you can compare them. You will see that there was a huge drop in sales from December to January. I sincerely hope that this month is better. Goog luck out there and have a great month. Thank you for reading my blog.

Click on the blue link to see report:

http://www.oregoncoastrose.com/MyBlog

I am always dealing with mfg homes here in Florence, Oregon. We have an abundance of them. Usually when I take a listing for a mfg home on land (not personal property only) I always tell them that we will be hoping for a cash buyer and if the seller can carry all or part of the sale price it will be easier to sell, if priced right. In the past (4 yrs ago) the only question that I always heard was is it a pre-hud? It has to have been built after July 15, 1976. So, for a long time that was my worst worry with these kinds of listings. Now I have encounter a new question "has it been moved from a previous home site?" Well, most of the time it has been moved. Especially if it is more than 10 yrs. old. This type of home even has a nickname in the lending community. They call them "Movers". Simple enough name but now what do we do? Well, the Mortgage guy I have been talking to is very knowledgeable and experienced in this type of a loan and he tells me that if it has been moved then he thinks he has a lender who will do it but the interest rate jumps into double digits. That's crazy. The other interest rates have come down and are still in record lows but the rate for a mover has not. They don't want to give any money on these so they charge unbelievable rates to do it. I talked to the Mortgage Rep at Oregon Pacific Bank and she said they can do movers but it will be an in-house Adjustable rate Mortgage. So, even that may not be acceptable to the buyer. and I am talking about a home that has been updated and was only a 1984 to begin with. It is a really nice home on it's own lot and lovingly maintained and improved. Doesn't matter if it is a mover. The real problem we are having now is that we can't get the placement info so we can't prove it is not a mover. Can't prove that it is but that doesn't matter either. I still have the title company working on it so hopefully we will find out something but it isn't looking good for the home team.

More than half of the homes in this area are mfg. We have 3 gated subdivisions full of them. Which is not good for our market. It is bad enough that the banks are undercutting all of the other properties and still taking such a low sale price that it is creating a very difficult sales market for the regular sellers who are not upside down, yet. Time on the market is up and even though our inventory has been greatly reduced due to cancellations and people who can't even afford to sell for the ridiculously low prices that the buyers are offering. I had a buyer the other day who wanted to offer half of what the property was priced at. But it is all cash! Yeah well that doesn't really matter if there is a pre-existing loan that has to paid off or some other type of lien. It is just getting so hard to sell a place that it is scaring me. I am sure that I am not the only one. One of the other real estate offices here closed the doors and it's only a matter of time before more have to do the same. Only the big offices will survive.

I'd like to think that there are some people out there who wait anxiously for my monthly sales report, but realistically I understand that is not the case. No matter. Here it is anyway and I just pray that those who read it get something out of it. So, Happy Holidays to everyone and be safe out there. Life is getting kind of crazy.

http://www.oregoncoastrose.com/MyBlog

Very nice level lots within close proximity of Sutton, Alder & Buck Lakes. Deeded Access to lake or use nearby public boat ramp. Travel trailer is excluded from sale. Old septic and Heceta water is available (need meter) and power is to lot line. Beautiful, level land - 2 lots sold together as one . Country feel only a few miles from town or beaches. Priced to sell $179,900, MLS#8072303.

Hi everyone, here is the new sales update for the last 2 months. It has been a strange month for real estate here in Florence.

Just for your information and my curiousity here is the difference from last year:

Total Properties for sale in our area October 2008 = 746 - Total Properties for October this year 785 = 39 more listings.

Sales for October 2008 = 25 - Sales this year = 33 = 8 more sales

Average Days on the Market for October 2008 = 234 - this year 265 = 31 more days to sell.

I hate to spoil the report for you but this is pretty interesting to me so maybe it will interest you also.

October 2008 available bare land was 213 listings with an average listing price of $286,043.

Bare land sales were 2 with an average sale price of $99,000.

This year available bare land is 298 Listings with an average listing price of $286,043, a difference of $132,726.

Bare land sales last month were 4 with an average sale price of $66,875, a difference of $32,125.

So, here are just a few statistics taken from the old report and the new report which were compiled using data taken from the RMLS web site.

Click on this link to see all of the up to date stats.

SALES UPDATE_November.pdf

Thank you for reading my blog. Have a great month.