The number of closed sales in June is down slightly from May while the average price increased. As I see it, the drop in sales is due to the expiration of the “Home Buyer Federal Tax Credit” program. The credit expired on April 30, which led to a higher number of May closings. Congress extended [...]
This Lovely 1925 home in the heart of Newport is an example of a great buy on the Coast. Lots of character and lovingly maintained makes this a perfect home for the young dance teacher and her musician husband who are the new owners. The list to sale ratio is close to 96%, a little [...]
Oregon coast real estate sales are looking up for Spring. The return of commercial and sport fishing of chinook salmon along the coast for the first time in three years is bound to have an impact on local income and breathe some life in to the local economy.
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Interesting March here on the Central Oregon Coast. Numbers of closed sales were up significantly from February (almost double the numbers) with a higher selling prices by $30,000 average. This does not account for the length of the escrow process which could have been up to 90 days. This means that many of these sales [...]
In the normal business cycle on the Oregon Coast we tend to see smaller gains as well as more modest declines. At present we are experiencing a somewhat steeper decline than usual with some very visible vacancies in Yachats. These include a closed grocery store, a real estate office and the well known Landmark Restaurant. This pattern [...]
Properties are selling on the Coast. The higher price ranges are continuing to be slow when compared to the $250,000 and under bracket. Bank owned homes are selling for lower prices compared to individually owned. We are seeing some welcome movement in the condo segment of the market.
The home I’m featuring from amongst those sold in February is [...]
Here on the Central Oregon Coast at this writing there are 45 active listings which fall in the category of distressed or bank owned (REO) properties. Typically these are homes on which the lender has foreclosed and is in title or ownership. This is about 3% of our broker listed inventory.
While the Oregon Coast is seeing a [...]
The results for Oregon Coast Real Estate in January 2010 are showing some interesting trends for the start of the year.
Site built sale prices are up slightly over the 2009 average
Manufactured homes are selling for a little less.
Condos remain in the doldrums with lower selling prices.
Land improved slightly in number of sales with flat prices.
Multi [...]
This is the first of four posts regarding trends for 2010. Let’s first look at how 2009 wrapped up. The final numbers are in for 2009 real estate sales on the Oregon Coast, and here I’m reporting specifically for Lincoln County. Three Windermere offices again dominated the market in terms of volume and number of [...]
The year finished strong with more closings in December than the previous month. December sales follow the trend that began in late Summer: properties that were appropriately priced received a great deal of attention from qualified Buyers. Part of this has to do with the Tax Credit incentives both for first time Buyers and current [...]
Sales continue here on the Coast. November showed a slight decrease from October for the number of site built homes sold.
We saw 12 fewer closings with a higher sale price: $284,866 versus $277,899 for October. List to Sale price stayed at 96% while days on market dropped from 181 days to 140 average.
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Now may very well be the best time in years to sell your home on the Central Oregon Coast. A pool of motivated Buyers is out there looking for opportunities to get into home ownership. The $8,000 tax credit for Buyers has stimulated the market and the $6,500 credit for owners in present [...]
Closings are increasing slightly, with average sales prices hovering between $250,000 and $280,000. People are feeling more optimistic — with good reason: mortgages are coming to the closing table in under 45 days. In addition, the condo market is seeing more closings than we have all year, as banks are willing to make loans on [...]
There is a pattern of good activity in the price range of $250,000 to $380,000 – with some properties getting multiple showings
and even a few multiple-offer situations which have been absent for two years. The prevailing Buyers are those who offer with pre-qualifications or all cash. The key word is to work with [...]
Rates are continuing to stay at a 40 year low in our coastal market. 30 year fixed rates were quoted this week by Freddie Mac at 5.06% a full 1% under one year ago. 15 year rates are even lower at 4.49%.
So what does this mean to Buyers and Sellers here on the [...]
In a continuing trend which began in May of this year, home sales are on the increase here on the Coast. The percentage of list to sale price remains almost unchanged for the previous 30 days at 95% with days on market coming down to 134 average for site built homes. Negotiations continue to [...]
The average selling price is moving up slightly as compared to 2008 for the same period. Higher end properties in the $450,000 and up range are still slow. This may be due in part to the lack of lenders willing to do “jumbo” loans at a reasonable rate of interest. Sales here [...]
The warm weather and gradually improving economy is having a favorable impact on real estate sales here on the Central Oregon Coast. Sales of site-built homes are up 40% compared to May and those properties sold more quickly as well. Use the upcoming holiday weekend to find your perfect full-time home at the beach or [...]
If you’re a repeat visitor to my blog, or live here in the Newport area, you’ve probably heard regularly about the Regatta Condos development, a first of its kind green construction project on Yaquina Bay. On Tuesday the 9th, the first unit closed to much fanfare. This unit, the Flagship, was one of two end-units [...]
Property is really beginning to move. If you’re thinking of investing in a second home, or retiring to the spectacular Oregon Coast, now is the time! Come visit me at my Windermere office in Seal Rock and we’ll look at properties that best suit your needs.
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Category: Oregon Coast Real Estate