Portland Area Neighborhoods

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Office Location 9895 SE Sunnyside Rd. Ste. F
Clackamas, OR 97015
Phone: (503) 621-6512
Fax: (503) 534-7887

July 2009

There are 2 blog entries for July 2009.

Difference Between a Short Sale and Foreclosure

Friday, July 31st, 2009 at 3:53pm. 168 Views, 0 Comments.

If you are wondering what the difference is between Short Sale and Bank Owned, it is this:

A Short Sale means that the bank has to take a Short- in other words, cannot get back all the money it lent to the seller, because the house is worth less than the seller owes. There are lots of Short Sales going on right now because banks were not very careful in their lending practices and appraisals- so they lent out way more money than many houses were worth. Now they have to take a loss. Sometimes the house really was worth more, sometimes it wasn't. Just because it is a Short Sale, doesn't necessarily mean you are going to get a good deal. You have to know the market and know what the comps are to be sure. That's why having a good Realtor helping you is so…


June 2009 Portland -Metro Market Action Report

Friday, July 31st, 2009 at 3:49pm. 171 Views, 0 Comments.

Portland-Metro Market Action Report June 2009

 

According to the most recent RMLS Market action report, the region's median home price has leveled off this summer and hovered in June around $250,000, down 17 percent from its peak. The inventory of unsold homes -- the key measure of supply and demand -- improved more than usual in June. Thanks to an uptick from record-low sales this winter, the inventory dropped from 19 months in January to eight months in June.

 

One doesn’t have to be a Realtor to know that home sales are cyclical. Winter is a slower season and summer being the hottest.  During that cycle, the number of homes listed typically expands steadily from January to July. In 2008, listings grew from January to June by 28 percent. In 2007, it was…


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