According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes that went under contract increased more than 15% in June 2010 after dropping in May.

May’s decline came after a rush of homebuyers entered the market in April, attempting to beat the deadline for the Homebuyer Tax Credit.  To qualify for the credit, buyers had to have a house under contract by April 30, and close by June 30.

 The last minute rush overwhelmed many lenders, and more than 180,000 buyers nationwide were in danger of losing their credit.  So, Congress just extended the closing deadline for those buyers to September 30, to give lenders time to process the sales.

In the Portland area, the Homebuyer Tax Credit pushed the number of homes under contract in April to the highest in two years.

Median Sales Price Edges Up, Homes Sell Faster

The average median price inched up 0.42% in June to $240,000.

 And the homes sold faster, the average days on market was 76, down 9 days from a year ago when the average time it took to sell was nearly 3 months.

 This report is developed monthly and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.

Popularity: 24% [?]

According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes that sold in May 2010 increased more than 22% as compared to May 2009.

Compared to April, however, sales dipped 8.86%, reflecting the expected decrease in the number of buyers as the Home Buyer Tax Credit expired on April 30. 

Still, with low interest rates and the traditional buying season ahead, projections are that the market will continue to improve.

Homes Selling Faster

In May 2010, homes sold faster than in April 2010, dropping to 72 days on market, which is more than two weeks less than a year ago.

The change reflects the season, and also the overall consumer confidence in the local and national economy.

Median Sales Price Falls Slightly

The median sales price for May 2010 fell slightly, declining less than 1% compared to April.

 This report is developed monthly and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.

Popularity: 1% [?]

According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes that went under contract in April 2010 jumped 48% over the same month last year, and nearly 9% over March.

And, while sales did see a 25% drop month over month, the increase in homes under contract, and the decrease in available inventory shows that Portland now has a balanced real estate market.  

There is now just a 5.6 month supply of available homes on the market.  A balanced market is considered to be 5-6 months of inventory, and is an indication that the number of buyers and sellers have equalized.    

Median Sales Price Inches Up

The median sales price for April 2010 inched up 0.2% compared to March 2010. The median price of $240,375 was the highest it’s been since December 2009.

Homes Selling Faster

In April 2010, homes sold more than 7% faster than in March 2010, dropping to 77 days on market and down more than 9% compared to a year ago.

This report is developed monthly and is based on information from The Regional Multiple Listing Service (RMLS) for the period stated above. Residential properties only in RMLS areas 141-156.

Popularity: 3% [?]

RE/MAX equity group announced today that Jeff Davis has been named General Counsel for the firm.

Prior to joining RE/MAX equity group, Davis served for fourteen years as Senior Counsel with Schwabe, Williamson & Wyatt where he represented all aspects of real estate transactions including buying, selling, developing, and operating properties.

“We are very pleased to add Jeff to our team. He is a very experienced legal counsel and he will be a tremendous asset,” said RE/MAX equity group President Jim Homolka.

Davis is a member of both the Financial Institutions/Commercial Finance Committee and Real Estate & Land Use Section of the Oregon State Bar.

Popularity: 1% [?]

ABOUT THE JOB:

RE/MAX equity group is the leading real estate firm in Oregon with offices throughout the Portland Metropolitan Area, Salem, and in Clark County, WA. With more than 700 experienced, professional REALTORS handling more than $2 billion in sales annually, we incorporate principle-centered professionalism, high ethical standards and innovative business practices and systems. Our number one value is honesty, integrity, and fairness in dealing with our clients, customers, and colleagues. We are currently seeking to add to our team a corporate general counsel with extensive experience in and knowledge of real estate and contract law. Benefits include health, dental, short-term disability, life insurance, vacation and sick leave, and 401(k).

RESPONSIBILITIES:

Our in-house general counsel provides consultation, review, editing, and drafting services to our agents in person, over the phone, and via email. This position will also represent the company and assist agents in mediation or arbitration. We are committed to enabling our agents to achieve success through quality education. As such, this position will prepare weekly educational emails on trending topics as well as teach various classes including evaluating contract terms, writing contracts,  and non-standard contracts and dealing with distressed properties. In addition, this position will research, advise and oversee all other legal issues for the company including various office and employee policies, vendor contracts, leases, E&O insurance, responses to subpoenas, etc.

QUALIFICATIONS:

• Must be able to practice law in the State of Oregon and have or be willing to obtain license in the State of Washington. (Preference given to candidates with licenses in both Oregon and Washington already.)
• Must have experience in real estate law and transactions and dispute resolution
• Excellent verbal and written communication and presentation skills
• Self-starter with a strong work ethic
• Strong problem-solving skills with exceptional attention to detail
• Ability to work with a variety of personalities as part of a team
• Professional behavior, attire, and appearance

Popularity: 1% [?]

 According to statistics from the Willamette Valley Multiple Listing Service (WVMLS), the number of under contract homes increased 8.46% in January 2010 compared to December 2009. Under contract homes were up 18.48% compared to January 2009.

Even though the number of homes actually sold in January 2010 still reflected the traditional winter holiday decline, the rate of sales to available homes on the market picked up, bringing inventory down to 11.5 months. Inventory for December 2009 was 12.8 months.

The median sales price reached a two year low of $165,000 in January 2010. It was down 5.71% from December 2009’s $175,000. First time buyers competing for lower priced properties are likely driving price declines. The inclusion of a tax credit (up to $6,500) for move-up buyers may help stabilize prices in the coming months.

Popularity: 1% [?]

According to statistics from the Regional Multiple Listing Service (RMLS), the number of homes that went under contract in January 2010 jumped 42.21% from the previous month.  And, that number also showed an increase of almost 40% over the same month the year before.

While the number of homes actually sold in January was down over December, reflecting the traditional winter decline, sales were up by more than 21% year over year.

That helped drop inventory to less than an eight month supply.

More good news, the median price continued to rise, up 0.41% to $242,000 in January 2010 compared to December 2009.  January’s rise is the second consecutive monthly increase in the median price.

Popularity: 1% [?]

RE/MAX equity group Portland Executive Branch Manager Alan Mehrwein was recently sworn in as President of the Oregon Association of Realtors. Lake Oswego Manager Dave Koch had the honor of inducting Alan.

Alan came to RE/MAX equity group in 1998 after a successful real estate career in California, including owning his own company. Alan has served as an RMLS Director, RMLS Chairman of the Board, PMAR VP of Professional Development and head of the Budget and Strategic Planning Committee, PMAR President-Elect and then President. He has earned his CRB and GRI designations and has been honored as the PMAR Realtor of the Year and by the Portland Million Dollar Club as Managing Broker of the Year.

Congratulations Alan and thank you for your service to the industry!

Popularity: 1% [?]

Congratulations to Marilyn Shotts, a broker with RE/MAX equity group’s Salem Business Center office in Salem, on being named the 2009 Oregon CRS (Certified Residential Specialist) of the Year.

This award recognizes a CRS member who has provided outstanding service to the chapter and the real estate industry. Marilyn has served as the 2006-2009 Oregon CRS Capitol District District Vice President and as the President of Women’s Business Referral Club. Marilyn also holds the CDPE (Certified Distressed Property Expert) designation.

Congratulations Marilyn for your outstanding contributions! For more information about Marilyn and her services, visit www.marilynshotts.com .

Popularity: 1% [?]