• pricing is accurate
• corners are clearly marked
• utilities are either installed or readily available

Land sales are usually cash transactions as lenders are very reluctant to loan on vacant land. Overall the best buys are appearing in the ocean front and good ocean view segments. Now may be a great time to find the perfect buy here on the coast.

An prime example of a site built home which sold in October.

Toledo Oregon home sold in September 2011

The Coastal real estate market remains steady if not exactly vibrant with homes that are priced for the current market getting plenty of activity and offers. As always there is a vast difference between the price the Seller would like to have and the price a qualified Buyer is willing to pay. The average 9 month list to sale ratio is at 93%. This indicates a movement toward more realistic pricing than in the past. Days on market has increased to an average of 214 days or just over 7 months.

The selection of properties continues to increase on a daily basis with homes and land showing up in all price ranges and locations. This would indicate a strong market for qualified Buyers. The home pictured is one located 9 miles inland in Toledo and represents a segment of the market that appeals to people who wish to enjoy a little warmer climate for gardening and yet be within 10 minutes to the beach. If you are looking for a primary residence or second home just send me an email or call. I would be delighted to assist in your search.

Home sold in August.

Activity on the Coast maintained well in August.  Selling prices appear to be holding at a ratio of 95% of list to sale price for site built homes. This reflects a serious adjustment on the part of Sellers who have decided to have their homes marketed rather than have them on the market.  Average sale prices hovering around $220,000 are representative of the highly sought after vacation and retirement home Buyers.   Sales of bank owned and short sale properties have dropped off significantly.  This appears to be more a matter of lenders holding properties off the market rather than any shortage of inventory.  As the lending industry remains in a state of flux it could be years before distressed properties, at least in this area become a major part of the sales process.

As always, a Buyer who wants to fufill their dream of living on the Oregon Coast, is well advised to connect with a local broker who is seasoned and experienced to act in their behalf.  If you would like to examine the options please give me a call or send an e-mail. You will be pleasantly surprised.

Buyer activity is up for the second month in a row with more serious Buyers showing up in the market place.   The common characteristics among successful Buyers is that they come to the Coast well educated about the inventory, are working with a real estate professional and are pre-qualified with a lender or have cash.   We see fewer and fewer Sellers willing to take their home off the market while waiting for a Buyer to sell a home in another area.

We are in the beginning of a trend where Sellers are beginning to take the advice of real estate professionals regarding pricing their properties to sell.  It’s the classic question of  ”do you want to market your property or be on the market?”

Windermere Listed, Windermere Sold on the Alsea River in Tidewater.

As the National economy corrects we expect to see a healthy increase in the numbers of Buyers seeking homes on the Oregon Coast.  Simply put, the large number of Buyers reaching retirement age will create a source of  new Buyers for Coastal properties.

Putting this together with more realistic lending rules which we hope will come soon this appears to be a return to a healthy real estate market.

Now is a great time to be making an investment in your future on the Oregon Coast.  Come on over and have a look.

Windermere Listed/Windermere Sold January 2011

We see many qualified Buyers who are not willing to wait for the banks to muddle through the loan approval process or have become distrustful of banks after being told blatant falsehoods or given a major run around. Once the lending industry gets back to the premise under which they are supposedly organized we should see an upswing in home and land purchases here on the Coast. It’s never to soon to start looking so why not schedule a visit and we can examine the possibilities?

New mortgages are available to Buyers with good credit and income and properties in excellent condition. We are in an era of multiple appraisals and very strict loan underwriting. So, Buyers may well be asked to jump through multiple hoops and can expect delays throughout the process leading to a successful closing. For those willing to hang in there very good purchases are to be found here on the Oregon Coast. Throughout 2010 the percentage of list price to sale price was within 5% to10% of the list price. What this means to a Buyer is that financing should be identified prior to working with a competent real estate broker. This allows the broker to identify the type and size of property you are interested in and qualified for.

Bargains do exist in the Coastal market however the panic or distress sales often referred to in the media are low in numbers. Many Sellers are in situations where they have priced their properties at a break even level having bought in a hot market and having to sell in a colder market.

Keeping in mind that all real estate is local, it is wise to consider the local market as a unique entity and prices are not really comparable to markets in other regions.

The key to finding just the right property for you is to connect with a qualified, experienced coastal broker in whom you can place your trust.

Why not see for yourself what the Central Oregon Coast has to offer.