Roberta’s Pick #1

I’m trying something new! There are so many EXCELLENT real estate opportunities today that it is difficult to weed through the hundreds and hundreds of affordable homes on the market. That is why I’ve decided to put my real estate expertise to the test and identify a property every other week that I think is especially outstanding. I promise that I will personally visit and evaluate the home and report to you my honest opinion. A friend suggested this idea, and thought I should call it “Roberta’s Pick!” So here you go, enjoy looking at these homes from my perspective!

 

 

 

 

 

This bank-owned home is offered for $130,000

 

 

 

Roberta’s Pick #1

 

 

6104 SE 91st Ave Portland, OR  97266

This home is listed with a cooperating RMLS Real Estate Broker

• Bank Owned, Listed for $130,000
• Built in 1995
• 3 Bedrooms, 2 Baths, 1,140 square Feet
• Double Car Garage
• Forced-Air Gas Heat, Central Air Conditioning
• Property Tax: $2,796.24

This Property Would Appeal to:

Investors:

• Cash Flows
• Potential Rental Income: $1,095 – $1,195/mo
• Approx. Required Cash: $26,000, Approx. PITI: $841

First-Time Home Buyers:

• Approx. Required Cash: $5,000
• Approx. Monthly PITI: $969

Concerns:

• Needs Cosmetic Repairs
• Needs Stove, Hood, Refrigerator
• Extensive use of Tile
• Amateur Laminate Floor Installation

To see this home and others please contact me at 503-709-4321, roberta@homes-portland.com.

New Website Launched!

I am pleased to announce the launch of my new Website: www.Homes-Portland.com. I have spent many months compiling useful information that you can use. If you are buying real estate, you will find excellent resources to prepare for your home purchase. If you are selling real estate, I have provided helpful information from staging tips, to disposing of unwanted “junk”. I will be adding client testimonials to my website, so please don’t be shy! Let me know if you’d like to be included. Happy reading!

 

Sincerely,

 

Roberta Williams
Oregon Realty Company

 

Real Estate Inventory Continues Decline in Portland – Neutral Market Approaching!

November 16, 2009 – According to the October 2009 RMLS Market Action, inventory in the Portland Metro Area declined to 6.5 months. We reached a high in January of this year at 19.2 months and have experienced a steady decline since. Current inventory is the lowest it’s been since August 2007. We are close to reaching a neutral market for the first time since the summer of 2007. A market is considered to be a buyer’s market when inventory levels are higher than 6 months; and a seller’s market when inventory levels are lower than 6 months.
More good news! Pending sales in the Portland Metro Area were up 64% compared to October 2008; and closed sales rose 37.1%. The extension and expansion of the home buyer tax credit should further the recovery of our real estate market.

A Snap Shot of the Portland Real Estate Market

November 3, 2009

The National Association of Realtors reported yesterday that pending home sales were up for the eighth consecutive month – the longest streak since measurement began in 2001.

Nationally, pending sales were up 21.2% higher than September 2008. In Portland, pending sales were up 34.1% compared to September 2008. 

Distressed Sales

Short sales and bank-owned listings are the buzz words in real estate today, but how much of an impact do these listings have on our market? Today, short sales make up about 18% of all active listings in the Portland metro area. It’s surprising that bank owned listings make up only 4% of active listings.

A Market Heating Up

With current Portland inventory levels at 7.6 months, we’re moving closer to a neutral market. (Inventory in months is calculated by dividing the active listings at the end of the month by the number of closed sales for that month). Inventory in January was at a record 19.2 months. Speculation continues about a possible “Shadow Inventory” of bank-owned properties flooding our market. If this occurs, extending and expanding the home buyer tax credit will keep our momentum moving forward.