My Blog

I just saw this interesting article online and thought I'd pass it along for your enjoyment :)~
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Is a Housing Shortage Coming? 
Some experts are saying that the next big real estate problem could be a shortage of homes.

Only 672,000 new homes were started in April. That’s less than half the number needed to meet the country’s average population growth.

In the past, an average of more than 1.3 million households have been built each year, creating demand for 1.5 million new homes. In 2009, only 398,000 new households were formed, according to the Census Bureau.

"The decline in household formation is artificial," says James Gaines, a real estate economist with Texas A&M. "The young are moving in with their parents. There's even doubling up among working-class people. There's a pent-up demand coming if and when the economy recovers."

Some economists believe this analysis fails to take into account the changing economy or the large inventory of vacant properties. But Gaines and others say these factors are unlikely to significantly drive down demand.

Source: CNNMoney.com, Les Christie (06/15/2010)

This month's numbers for Portland Oregon real estate show continued improvement.  Pending and sold listings increased significantly this month as well.  Compared to the same quarter last year, closed sales are up almost 40% 

For more detailed information, see the full market action report by clicking here.

We're seeing continued movement in the Portland, Oregon real estate market.  Inventory is down to a 2 year low of 6.5 months.  This is paired with an increase both in pending sales and closed sales.  The 64% increase in pending sales is the largest same-month increase since February 1996! 

For more detailed information on what's happening in your Portland, Oregon area neighborhood, check out this link to the latest real estate statistics.  Also, always feel free to call or email me with specific questions you might have! 

Click here to read the report!

Be well!
-Blake

It seems that Congress has decided to extend the life of the first time homebuyer credit that has been nearing expiration in the coming months.  We will also apparently see an expansion of the program to include other purchasers who are moving from a home where they've lived for five or more years. 

Take a peek at this link for more info!  Always feel free to call or email me with questions!

http://www.kptv.com/money/21456362/detail.html?treets=ptl1&tml=ptl1_natlbreak&ts=T&tmi=ptl1_natlbreak_1_04440110282009

Fall has arrived, and some good news is coming out of the Portland, Oregon real estate market.  RMLS released the Portland Metro Area real estate market statistics today, and inventory is down slightly from last month.  In addition, pending and closed sales are both up!  Great rates and the First Time Homebuyer tax credits are certainly helping the market!  There still may be time to just make the deadline to qualify for the credit, so if you're on the fence - it's a good time to consider a purchase...  Click the statistics below for the full report!  For specific information on what's happening in your Portland, Oregon neigbhorhood, feel free to call or email me! 

Good morning!

You'll find the last month's inventory of closed condos in Lake Oswego below.  If you have any questions about the currently listed condos in town, or want information about buying or selling a condo or property, give me a call, and let's talk!  
Stay warm, and have a great weekend.

-Blake

Building	Street Address	# of Bedrooms	# of Bathrooms	Square Footage	# of Parking Spaces	Closed Price
Tanglewood Hills	4 Touchsstone #63	2	2	984	0	$117,500
Sunny Grove Condos	4644 Lower Drive 4.B3	2	1.5	1170	1	$129,000
Forest Condos	4000 Carman Dr #35	2	2	869	0	$135,000
Spring Creek Condos	3680 Spring Ln #2B	2	2.5	1152	2	$187,000
	22 Condolea Dr	2	2	1454	2	$275,000
Wheatherstone Condos	68 Wheatherstone Ct #34	4	3.5	2465	2	$312,500
555	527 2nd St	2	2	1292	1	$519,079