Kathy Hall Real Estate

The following article helps explain the new standards and expectations for not only sellers of residential real estate but also buyers as well. Almost all agents and brokers have experienced the dramatic shift in the appraisal process however the general public has not. This article may enlighten you. Please go to:http://www.pmar.org/documents/News/May2012_Appraisal-Article.pdf

It sure looks like the residential real estate market in most metro areas has bottomed and now there are early signals that prices are actually increasing from these depressed levels. Please read the following for more information:http://blogs.wsj.com/developments/2012/05/09/median-home-prices-up-in-51-of-metros/

With inventory for existing home sales being in short supply a timely observation has been made in the following Wall Street Journal article. Does it make sense for buyers to purchase brand new construction now? Does it pencil out economically? And finally, if a buyer purchases a new home in today’s market will he/she be insulated if there is continued softness in prices? For answers please read the following:

http://online.wsj.com/article/SB10001424052702304811304577369962965371438.html?mod=WSJ_hps_sections_realestate

The high end residential real estate market for the Greater Portland Metro Area is nowing showing an upward trend for the first time in years. Already homes selling for over $1 million dollars has outpaced last years amount by more than double. Historically low mortgage rates and a 5 year correction in prices have been the major factors for this surge in new sales. One factor which has not been mentioned : the surge in new sales in the upper end of the market can be directly attributed to listing agents carrying old outdated overpriced property which has helped create low inventory in this market. So any new listings that are priced according to TODAYS market and are in outstanding locations will get offers.

Historical low mortgage rates are showing signs of helping key new buying activity in the Metro-Portland real estate market. So far in 2012 well priced properties in outstanding locations are receiving multiple offers. Low inventory and old listings with outdated seller pricing are creating a better opportunity to purchase fresh new listed properties at todays’ prices.

To read this article go to:http://blogs.wsj.com/developments/2012/03/08/mortgage-rates-keep-dancing-with-record/

A very interesting article describing the appraisal process in today’s real estate market can be applied to all of the Portland Metro Area. This specifically targets low appraisals and how to navigate the process.

Please read the following article at http://www.foxbusiness.com/personal-finance/2012/02/08/how-to-fight-low-appraisal/

For 2012 the Portland real estate market will bring many challenges to both sellers and buyers especially trying to overcome the mainstream medias negativity to the industry. Northwest prices are trending down and are very close to testing the March 2011 lows which adds fuel to the perception of no recovery or stability in prices. For sellers, this climate has been very difficult to live through and for buyers, these afforable prices along with historical low mortgage rates presents a fabulous opportunity to lock in a home purchase. For the new homeowners, have a long term approach in order to maximize appreciation somewhere between 5 and 10 years. Some of the best neighborhoods in Portland ( Dunthorpe or Portland Heights ), Lake Oswego, West Linn, & the Stafford area offer great purchase opportunities.

Enclosed is an interesting article describing current pricing conditions in the real estate market and some thoughts for 2012. It is important to know that different geographical locations throughout the U.S. will have some challenges to overcome however the overall pricing climate indicates a bottom has been reached.

To read this article please go to: http://realestate.msn.com/whats-ahead-for-home-prices-in-2012

Our first home in 2012 we would like to highlight is a beautiful Lake Oswego Custom Estate built in 2001 by Skip O’Neill and located on 1.2 acres on the Oswego Lake Golf Course.

To view this extraordinary property please go to:http://luxuryestatelakeoswego.com/

The Portland Real Estate Market continues to soften at years end thus for Sellers and Buyers in this environment two different strategies are needed. The Sellers need to market their properties correctly by being the ” stand out value ” versus similar properties in their price range due to soft housing prices and excess foreclosed homes hitting the year end market. For Buyers they should be searching homes in prime locations and locking in historically low mortgage rates as well as taking advantage of the pricing correction currently going on. At some point in the future the real estate climate will change and prices will begin a slow steady rise. The time to act is now.

To read this article please go to:http://www.oregonlive.com/business/index.ssf/2011/12/home_prices_fall_in_portland_a.html

Kathy Hall Real Estate

Informative Update on Portland Real Estate Appraisal Process

Median Home Prices Up in 51% of Metros in 1st Quarter of 2012

Should Buyers Purchase New Homes Now?

High End Portland Real Estate Sales Shows Upward Trend in 2012

Low Mortgage Rates Help Key New Buying Activity in Portland Real Estate Market

Article on Appraisal Process Applies to the Portland Real Estate Market

Portland Real Estate Challenges Seller’s Motivation & Buyer’s Patience

Forecast for 2012 Home Prices

Extraordinary Lake Oswego Custom Estate Highlights 2012

Portland Real Estate Prices Remain Soft For 2nd Consecutive Month

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