Real Estate Talk Blog for the Willamette Valley

• Modified statistics, starting 11 April, 2009 SOLD statistics no longer include any pending data.

Albany

¨        SOLD (past 90 days) – 105

o       Average price – $193,555

o       Median Sale Price – $185,000

o       Average Days on the Market – 139

o       Average Dollar per Square Foot - $121.33

¨        Current Active Listings – 399

o       Average Price of Active Listings - $225,253

o       Months of Inventory – 11.4

¨        Pending/Contingent Sales – 81 / Value $16.1 million

o       Total Contingent- 41

o       Total Pending - 40

Corvallis

¨        SOLD (past 90 days) – 79

o       Average price – $274,641

o       Median Sale Price – $250,000

o       Average Days on the Market – 143

o       Average Dollar per Square Foot - $159.80

¨        Current Active Listings – 254

o       Average Price of Active Listings - $337,780

o       Months of Inventory – 9.65

¨        Pending/Contingent Sales – 65 / Value $17.7 million

o       Total Contingent- 42

o       Total Pending - 23

Lebanon

¨        SOLD (past 90 days) – 39

o       Average price – $138,770

o       Median Sale Price – $129,000

o       Average Days on the Market – 130

o       Average Dollar per Square Foot - $105.04

¨        Current Active Listings – 177

o       Average Price of Active Listings - $169,940

o       Months of Inventory – 13.62

¨        Pending/Contingent Sales – 35 / Value $6.4 million

o       Total Contingent- 16

o       Total Pending - 19

Upcoming Guests Scheduled:

July Guests: 

2 July - Dave – Just Dave

11 July – Kirby and Crawford – Engineering and Surveys and Real Estate

Real Estate Roundtable

Are you a First Time Home Buyer?  Do you want to participate in Real Estate Talk?  Dave is looking for someone to go through the process “on the air” by working with him, and letting the listeners know how things are going throughout the entire process.  The person(s) selected will receive some nice gifts as a way of saying “thank you.”  Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).

 For more information, contact Dave at realestatetalk@kgal.com.

3 big issues in the world of Real Estate in the past few weeks.  I'm curious as to how people "outside" the real estate industry think.  Take just a couple of minutes - post a response to any or all of the issues and lets keep the conversation going.

1. Tax Credits for 1st Time Buyers - There is lots of speculation in the news right now.  Talk of extending it through 2010 (it is currently set to expire in December 09), broadening it to all buyers (not just first timers), and also of increasing it to $15,000.  There is also a discussion of allowing buyers to "monetize" the tax credit - allowing them under some circumstances to use it toward down payment.  Are these tax credits really a good thing?  How are they paid for, and are they going to have the end result they are intended to (turning the housing market around)?

2. Interest Rates continue to climb - what does that mean to you folks thinking about buying?  Many potential buyers were watching and waiting for the perfect storm of low home prices, and low interest rates.  Have you missed the opportunity?  Are interest rates ever coming back below 5%?  If they don't, has that taken you out of the market?

3. Where do you see housing "affordability?"  - We are not likely to see a "bottom" to the housing market until we hit a level where housing becomes "affordable" again.  That term is pretty mushy though - and different in almost every geographic area.  How do YOU measure whether buying a home is now "affordable" or not? 

Post and let's discuss...

Dave

• Modified statistics, starting 11 April, 2009 SOLD statistics no longer include any pending data.

Albany

¨        SOLD (past 90 days) – 110

o       Average price – $194,403

o       Median Sale Price – $182,578

o       Average Days on the Market – 139

o       Average Dollar per Square Foot - $119.07

¨        Current Active Listings – 385

o       Average Price of Active Listings - $225,390

o       Months of Inventory – 10.5

¨        Pending/Contingent Sales – 74 / Value $14.5 million

o       Total Contingent- 40

o       Total Pending - 34

Corvallis

¨        SOLD (past 90 days) – 80

o       Average price – $276,427

o       Median Sale Price – $254,652

o       Average Days on the Market – 148

o       Average Dollar per Square Foot - $160.99

¨        Current Active Listings – 252

o       Average Price of Active Listings - $335,975

o       Months of Inventory – 9.45

¨        Pending/Contingent Sales – 60 / Value $16.4 million

o       Total Contingent- 40

o       Total Pending - 20

Lebanon

¨        SOLD (past 90 days) – 34

o       Average price – $136,416

o       Median Sale Price – $130,450

o       Average Days on the Market – 132

o       Average Dollar per Square Foot - $105.67

¨        Current Active Listings – 182

o       Average Price of Active Listings - $169,983

o       Months of Inventory – 16.06

¨        Pending/Contingent Sales – 31 / Value $5.7 million

o       Total Contingent- 14

o       Total Pending - 17

Upcoming Guests Scheduled:

June Guests: 

Real Estate Roundtable

Molly Brady – Oil Heat Help Desk and the ABC’s of Oil heating

Linda Collins, First American Home Warranty

Are you a First Time Home Buyer?  Do you want to participate in Real Estate Talk?  Dave is looking for someone to go through the process “on the air” by working with him, and letting the listeners know how things are going throughout the entire process.  The person(s) selected will receive some nice gifts as a way of saying “thank you.”  Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).

 For more information, contact Dave at realestatetalk@kgal.com.

Hey kids...let's put on a show!

I remember that phrase from the very old Mickey Rooney and Judy Garland musicals (I'm not dating myself...I watched them in black and white as a kid on the TV!)

Well, we're putting on a show for you.  This is one of the greatest buyers markets of our generation...

• There is an amazing amount of inventory - over 10 months of inventory in Albany and Corvallis...and over 19 months of inventory in Lebanon!
• Prices are low (and lots of motivated sellers is going to keep it that way for a little while to come)
• Interest rates are excellent (although they ARE starting to move up again)

I know, we can should about it being a "Buyer's market" all day long - but the question is, is it  YOUR Buyer's Market?  Do you know how to take advantage of:

• USDA Rural Development loans
• VA Loans
• FHA Loans
• $8000 Tax Credit for first time home buyers
• How to develop a winning negotiating strategy

Find out, sign up for "It's My Buyer's Market" workshop...you'll get pre-approved with a local lender, and then participate in a 2 hour educational workshop with seasoned real estate professionals.  When you're done, we'll get you ACCESS to MLS listings in our area that meet your wants and your needs...in YOUR price range.

To get more information go to...

www.itsMYBuyersMarket.com

• Modified statistics, starting 11 April, 2009 SOLD statistics no longer include any pending data.

Albany

¨        SOLD (past 90 days) – 110

o       Average price – $192,311

o       Median Sale Price – $178,750

o       Average Days on the Market – 137

o       Average Dollar per Square Foot - $118.64

¨        Current Active Listings – 385

o       Average Price of Active Listings - $225,019

o       Months of Inventory – 10.5

¨        Pending/Contingent Sales – 69 / Value $13.1 million

o       Total Contingent- 37

o       Total Pending - 32

Corvallis

¨        SOLD (past 90 days) – 72

o       Average price – $251,705

o       Median Sale Price – $230,000

o       Average Days on the Market – 141

o       Average Dollar per Square Foot - $156.86

¨        Current Active Listings – 251

o       Average Price of Active Listings - $330,614

o       Months of Inventory – 10.46

¨        Pending/Contingent Sales – 62 / Value $18.1 million

o       Total Contingent- 41

o       Total Pending - 21

Lebanon

¨        SOLD (past 90 days) – 27

o       Average price – $140,844

o       Median Sale Price – $125,000

o       Average Days on the Market – 139

o       Average Dollar per Square Foot - $103.31

¨        Current Active Listings – 177

o       Average Price of Active Listings - $173,780

o       Months of Inventory – 19.67

¨        Pending/Contingent Sales – 33 / Value $5.9 million

o       Total Contingent- 14

o       Total Pending - 19

Last show:   Thursday 04 June – RE/MAX Integrity introduces a new consumer tool – Any Listing, Any Phone, Any Time…called MLS Now.  Heather White, Marketing Director for RE/MAX Integrity was the first guest.  Renee Dornhecker, Landmark Mortgage was on to discuss current issues with mortgage interest rates and buyer programs available.

Upcoming Guests Scheduled:

June Guests: 

Molly Brady – Oil Heat Help Desk and the ABC’s of Oil heating

Real Estate Roundtable

Linda Collins, First American Home Warranty

Are you a First Time Home Buyer?  Do you want to participate in Real Estate Talk?  Dave is looking for someone to go through the process “on the air” by working with him, and letting the listeners know how things are going throughout the entire process.  The person(s) selected will receive some nice gifts as a way of saying “thank you.”  Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).

 For more information, contact Dave at realestatetalk@kgal.com.

• Modified statistics, starting 11 April, 2009 SOLD statistics no longer include any pending data.

Albany

¨        SOLD (past 90 days) – 112

o       Average price – $190,994

o       Median Sale Price – $176,495

o       Average Days on the Market – 138

o       Average Dollar per Square Foot - $120.66

¨        Current Active Listings – 382

o       Average Price of Active Listings - $224,397

o       Months of Inventory – 10.23

¨        Pending/Contingent Sales – 62 / Value $11.4 million

o       Total Contingent- 28

o       Total Pending - 34

Corvallis

¨        SOLD (past 90 days) – 65

o       Average price – $268,071

o       Median Sale Price – $260,000

o       Average Days on the Market – 147

o       Average Dollar per Square Foot - $158.33

¨        Current Active Listings – 229

o       Average Price of Active Listings - $328,413

o       Months of Inventory – 10.57

¨        Pending/Contingent Sales – 63 / Value $18.5 million

o       Total Contingent- 42

o       Total Pending - 21

Lebanon

¨        SOLD (past 90 days) – 21

o       Average price – $144,402

o       Median Sale Price – $128,500

o       Average Days on the Market – 138

o       Average Dollar per Square Foot - $109.09

¨        Current Active Listings – 170

o       Average Price of Active Listings - $176,830

o       Months of Inventory – 24.29

¨        Pending/Contingent Sales – 36 / Value $6.2 million

o       Total Contingent- 17

o       Total Pending - 19

Last show:   Jason Cadwell, RE/MAX Integrity and Genevra Schumacher, of the Schumacher Group were here to talk about Short Sales and Foreclosures.  Understanding what they are – and some of the options that are available to consumers when the situation exists. 

Upcoming Guests Scheduled:

May Guests: 

Thursday 21 May – Real Estate Roundtable and “It’s MY Buyer’s Market” Workshops

Saturday 30 May - TBD

Are you a First Time Home Buyer?  Do you want to participate in Real Estate Talk?  Dave is looking for someone to go through the process “on the air” by working with him, and letting the listeners know how things are going throughout the entire process.  The person(s) selected will receive some nice gifts as a way of saying “thank you.”  Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included). 

Check out www.ItsMYBuyersMarket.com to start on your path to the American Dream of Home Ownership!  Meet a local lender and get pre-approved - participate in a 2 hour educational seminar designed to help you be a smarter buyer - and get access to homes in your price range that meet your wants and needs!  Make it YOUR Buyer's Market!

 For more information, contact Dave at realestatetalk@kgal.com.

Modified statistics, starting 11 April, 2009 SOLD statistics no longer include any pending data.

Albany

• SOLD (past 90 days) – 106
• Average price – $192,572
• Median Sale Price – $178,250
• Average Days on the Market – 139
• Average Dollar per Square Foot - $119.99
• Current Active Listings – 359
• Average Price of Active Listings - $222,687
• Months of Inventory – 10.16
• Pending/Contingent Sales – 61 / Value $11.38 million
• Total Contingent- 32
• Total Pending - 29

Corvallis

• SOLD (past 90 days) – 65
• Average price – $274,278
• Median Sale Price – $263,500
• Average Days on the Market – 141
• Average Dollar per Square Foot - $160.43
• Current Active Listings – 234
• Average Price of Active Listings - $327,389
• Months of Inventory – 10.8
• Pending/Contingent Sales – 54 / Value $17.6 million
• Total Contingent- 40
• Total Pending - 14

Lebanon

• SOLD (past 90 days) – 23
• Average price – $139,306
• Median Sale Price – $127,300
• Average Days on the Market – 126
• Average Dollar per Square Foot - $108.51
• Current Active Listings – 168
• Average Price of Active Listings - $175,918
• Months of Inventory – 21.91
• Pending/Contingent Sales – 30 / Value $5.5 million
• Total Contingent- 14
• Total Pending - 16

Last show:   Thursday, May 07– Melanie Adams, City of Albany Building Division (and Gary Stutzman and Kristin Johns).  It’s BUILDING SAFETY Week!  When do you need a building permit, how do you get one?  More importantly, why do you NEED one!

Upcoming Guests Scheduled:

May Guests: 

• Saturday 16 May – Jason Cadwell; Short Sales and Foreclosures
• Thursday 21 May – Real Estate Roundtable and “It’s MY Buyer’s Market” Workshops
• Saturday 30 May - TBD

Are you a First Time Home Buyer?  Do you want to participate in Real Estate Talk?  Dave is looking for someone to go through the process “on the air” by working with him, and letting the listeners know how things are going throughout the entire process.  The person(s) selected will receive some nice gifts as a way of saying “thank you.”  Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).

 For more information, contact Dave at realestatetalk@kgal.com.

• Modified statistics, starting 11 April, 2009SOLD statistics no longer include any pending data.

Albany

¨        SOLD (past 90 days) – 103

o       Average price – $192,961

o       Median Sale Price – $178,750

o       Average Days on the Market – 137

o       Average Dollar per Square Foot - $121.45

¨        Current Active Listings – 355

o       Average Price of Active Listings - $222,542

o       Months of Inventory – 10.24

¨        Pending/Contingent Sales – 62 / Value $11.99 million

o       Total Contingent- 34

o       Total Pending - 28

Corvallis

¨        SOLD (past 90 days) – 59

o       Average price – $277,014

o       Median Sale Price – $265,000

o       Average Days on the Market – 145

o       Average Dollar per Square Foot - $160.98

¨        Current Active Listings – 224

o       Average Price of Active Listings - $328,260

o       Months of Inventory – 11.39

¨        Pending/Contingent Sales – 59 / Value $17.6 million

o       Total Contingent- 45

o       Total Pending - 14

Lebanon

¨        ¨        SOLD (past 90 days) – 21

o       Average price – $139,483

o       Median Sale Price – $127,300

o       Average Days on the Market – 121

o       Average Dollar per Square Foot - $108.49

¨        Current Active Listings – 162

o       Average Price of Active Listings - $168,539

o       Months of Inventory – 23.14

¨        Pending/Contingent Sales – 30 / Value $5.5 million

o       Total Contingent- 14

o       Total Pending - 16

Last show:   Saturday, May 02– Just Dave.  New appraisal procedures for many lenders, understanding desk reviews and about “declining markets.”  Also, tips on pricing strategies for sellers and the future of the mid-valley housing market.

Upcoming Guests Scheduled:

May Guests: 

Thursday 7 May – Melanie Adams, City of Albany Building Department

Saturday 16 May – TBD – Jason Cadwell; Short Sales and Foreclosures

Thursday 21 May – Real Estate Roundtable and “It’s MY Buyer’s Market” Workshops

Saturday 30 May - TBD

Are you a First Time Home Buyer?  Do you want to participate in Real Estate Talk?  Dave is looking for someone to go through the process “on the air” by working with him, and letting the listeners know how things are going throughout the entire process.  The person(s) selected will receive some nice gifts as a way of saying “thank you.”  Jay Chase Inspections will provide the Pest and Dry Rot Inspection at no charge to the buyer(s) selected for this program. Corvallis Moving and Storage will provide the Local Move (packing not included).

Sorry its been a little while since I've posted a market update.  I had a little bit of a computer issue (troubles with spreadsheets!) and I've also updated the way that I'm calculating the stats for you. 

• Modified statistics, starting 11 April, 2009 SOLD statistics no longer include any pending data.

Albany

• SOLD (past 90 days) – 94
• Average price – $192,514
• Median Sale Price – $178,995
• Average Days on the Market – 138
• Average Dollar per Square Foot - $121.33
• Current Active Listings – 361
• Average Price of Active Listings - $226,130
• Months of Inventory – 11.52
• Pending/Contingent Sales – 60 / Value $12.1 million
• Total Contingent- 30
• Total Pending - 30

Corvallis

• SOLD (past 90 days) – 55
• Average price – $288,390
• Median Sale Price – $270,000
• Average Days on the Market – 158
• Average Dollar per Square Foot - $161.57
• Current Active Listings – 233
• Average Price of Active Listings - $332,600
• Months of Inventory – 12.71
• Pending/Contingent Sales – 48 / Value $12.4 million
• Total Contingent- 32
• Total Pending - 16

Lebanon

• SOLD (past 90 days) – 20
• Average price – $146,585
• Median Sale Price – $148,500
• Average Days on the Market – 137
• Average Dollar per Square Foot - $113.74
• Current Active Listings – 158
• Average Price of Active Listings - $174,099
• Months of Inventory – 23.7
• Pending/Contingent Sales – 33 / Value $6 million
• Total Contingent- 19
• Total Pending - 14

Last show: Thursdsay, April 16 – Ken Smith and Anna Balkema, Willamette Neighborhood Housing Services.  *Encore airing on Saturday, 18 April.

Upcoming Guests Scheduled:

April Guests

Saturday, April 25 – (Tentative) Carissa Ramey, Central Willamette Community Credit Union