Oregon

In 2007, 151 residential listings were closed in Ontario, down 19% from 2006. The average price also dropped a little bit, from $134,763 in 2006 to $130,707 in 2007.

However, the average days on the market in 2007 was 78, down from 113 in 2006. So fewer homes sold, but they were on the market a shorter period of time.

As for my predictions, I believe that 2008 will be a reasonably strong year for homes priced below $150,000. There is still good financing available for those homes with low down payments, and since first time home buyers do not have to sell their current home before they buy a new home, I predict that homes in the "starter home" price range will be the easiest to sell with proper marketing.

There will also be some great opportunities for investors out there - I am seeing rents starting to rise and the availability of decent rentals is getting tighter. So now is a great time for people looking for rental property to add to their portfolio. If you have been thinking about buying your first rental property, maybe the time is right for you to make some progress towards that goal.

The higher end market is where we are seeing most of the problem - a larger than usual number of homes on the market and much slower marketing times, so some additional patience will be necessary by sellers of homes over $200,000.

Who will have the best of both worlds? I predict that buyers currently in starter-price-range homes (those under $150,000) will be able to sell their homes and then get a good deal on the larger home they have been thinking about moving up to. So now is a great time for those types of buyers to be jumping into the real estate market.

Barb Hutchinson is a Realtor with RE/MAX Tri-Cities in Fruitland, ID. She sells real estate in SW Idaho (including Fruitland, Payette, New Plymouth, Parma, Emmett, Weiser) and Eastern Oregon (Ontario, Nyssa and Vale in Malheur County). If you are interested in buying or selling a home, call Barb today at 208-707-4663 or visit her website at www.BarbHutchinson.com

Today is Friday, January 4, 2008 and it is time for another breakdown of homes sales in the Washington
County, Oregon market. I'm happy to say if you own a lower to medium priced home, sales are still making a moderate increase, if your home is price correctly.

While this is good news, higher priced homes are starting to sit a little longer on the market. This just may be due to the fact that we seem to have a larger than normal inventory of the upper end homes.

Here is a breakdown of homes sales for the week by neighborhood. Just click on the link to your neighborhood for the complete breakdown of what the average of homes that are on the market, how long they have been on the market, how many have sold, what their average price was, and how long they were on the market.

As always, if you are looking to buy or sell in the Washington County, Oregon area, I would love to show you how you can save the most money by being on your side during the negotiations.

Neighborhood # of Active Listings

Aloha Neighborhood, Beaverton, Oregon 140
Bull Mountain North Neighborhood, Tigard, Oregon 74
Bull Mountain South Neighborhood, Tigard, Oregon 113
Cooper Mountain Neighborhood, Beaverton, Oregon 103
Greenburg Neighborhood, Tigard, Oregon 47
Greenway Neighborhood, Beaverton, Oregon 25
Hart Neighborhood, Beaverton, Oregon 71
Highland Hills Neighborhood, Beaverton, Oregon 55
Lexington Neighborhood, Aloha, Oregon 32
Mountainview Neighborhood, Tigard, Oregon 94
Murray Hill Neighborhood, Beaverton, Oregon 108
Sexton Mountain Neighborhood, Beaverton, Oregon 103
Sorrento Ridge Neighborhood, Beaverton, Oregon 38
Summer Lake Neighborhood, Tigard, Oregon 29
Summerfield Neighborhood, Tigard, Oregon 17
Tigard Neighborhood, Tigard, Oregon 24
Walnut Grove Neighborhood, Tigard, Oregon 19



Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739

Storm cleanup continues in Clatsop County, many still have tarps covering wind ravaged roofs and most of us won't have any need to look beyond our yards for a firewood supply for the coming year. While the housing market statistically showed signs of improvement through the close of 2007, December proved to be the exception as inventory increased and closed transactions decreased. If you keep in mind December numbers were heavily influenced by the huge storm and holiday activities, market trends indicate that 2008 will be a "rebuilding year". As the market continues to correct, we're starting to see inventory levels begin to level off with demand and prices start to stabilize. While the last 18 months has been far from a hot market, the Oregon Coast has been pretty well insulated from the trends of FL, NV, AZ and CA. From where I stand, the first quarter will be similar to the last half of '07 and the market continue picking up through year end. The good news is most properties have continued to appreciate throughout all this, and will continue to do so. While the second home market has slowed some, the recovery of hard hit metro's in the West will increase buyers looking for investment properties and vacation homes here.

With all that said, it is still a buyers market here and sellers must remember that price is #1. Buyers have come to expect a home to be in perfect condition, or discounted accordingly. Buyer credits or allowances for carpet or paint just don't cut it any more, and if your home is in need of these it must be priced to reflect this. Also, most homes will benefit from a pre-listing home inspection to ease buyer apprehension over hidden defects and/or concerns over deferred maintenance.

Although it will still be sometime until the market is back to the boom years, I think 2008 is shaping up to be a great year. Rates are low, lots of great loan programs are still available to buyers and as the media begins to shift its focus from the doom & gloom of the housing market to election news consumer confidence should show an overall increase.

It's the start of a new year, which means that I get to spend part of January looking at statistics from the previous year. Ahh...statistics...I think I'm going to need a Starbucks run.

Knowing real estate trends is hopefully, one of the many things real estate agents bring to the profession. I was often surprised by the many lists that Salem made, touting our strong real estate market. Don't get me wrong, our market is doing fine, but if we are one of the strongest, then...well...it puts the rest of the country into prospective for me.

You can make statistics do pretty much anything you want depending on whether or not you use averages, or medians, and what data you choose to analyze. This week, I decided to look at the number of listed homes vs. the number of homes sold during a given year.

For residential listings in Salem (proper, not metro) Oregon only...

At the height of the market 85% of what was listed sold. We ended the year at a respectable 50%. Still down down from normal, but considering three months ago when I ran that number we were at 36%, I'd say we ended the year well. What this means is that inventories are creeping up and sellers are going to have to be ultra competitive in order to get that sale.

For more information regarding the real estate market conditions in Salem or any of the surrounding areas, please feel free to email me.

With the latest series of snow storms rolling through Jackson County in Southern Oregon, we're dusting off our snow gear and waiting for a window in the storms so we can head out for some snow play. If we draw a circle around Jackson County, Oregon and look for winter playgrounds within 60 miles, the choices available to us for destinations are fabulous!

Table Mountain Snow Play area near Hyatt Lake is one of our favorite places to go sledding/tubing. Only about 25 miles from Ashland, Oregon, it is convenient and the roads are pretty well maintained throughout the winter. This location offers easy access, a great sledding/tubing hill, AND Hyatt Lake'srestaurant nearby for a warm lunch or hot cocoa when we're done. Cross-Country skiers and snowmobilers abound in this area. Just take Highway 66 east from Ashland to the Hyatt Lake turnoff (about 19 miles)

With a straight shot up Highway 62 there are many locations to enjoy. Farewell Bend Snow Play area near Union Creekin the Prospect area has another terrific sledding/tubing hill, as well as access to 35 miles of Forest Service maintained cross country skiing trails in addition to 103 miles of marked snowmobile trails, with access located at 1,000 Springs Sno-Park and the West Diamond Lake Sno-Park.

Crater Lake National Park offers free guided snowshoe hikes throughout the winter for hiker 8 years and older up for a moderate trek in this winter wonderland. Bring your properly clothed and fueled self, and they'll provide the snowshoes.

Diamond Lake is ranked as one of the Northwest's best winter playgrounds, with areas to accommodate many different winter recreations. It is a favorite of snowmobilers, while offering areas for tubing/sledding and miles of Nordic trails.

Beckie's Café is our favorite stopping place for a warm lunch or pie when we are done with our snow play in these areas.

An Oregon Sno-Park permitis required to park at winter recreation sites and are readily available through BLM offices and local retailers.

See you out there!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com