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John baines

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    John baines John baines Presentation Transcript

    • John Baines Broker, Windermere Real Estate WHY IS THE PORTLAND METRO REAL ESTATE MARKET IMPORTANT TO THE RESIDENTS OF CHARBONNEAU?4/20/2012 Charbonneau Community Forum 1
    • BECAUSE…..• MANY PEOPLE WHO BUY HOMES IN CHARBONNEAU COME FROM THE PORTLAND MARKET• IF THEY CAN’T SELL THEIR HOUSES IN PORTLAND, THEY CAN’T BUY A HOUSE IN CHARBONNEAU4/20/2012 Charbonneau Community Forum 2
    • LISTINGSApril 2012 vs April 2011: Down: 2.0%YTD 2012 vs YTD 2011: Down: 9.7% Lowest unsold inventory since June 20074/20/2012 Charbonneau Community Forum 3
    • Inventory in Months Jan 2010 to April 2012 14 12 10 8 6 4 2 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 284/20/2012 Charbonneau Community Forum 4
    • CLOSED SALES April 2012 vs April 2011: Up: 13.1% YTD 2012 vs YTD 2011: Up: 13.1% More Closed Sales in 1st Qtr since 20074/20/2012 Charbonneau Community Forum 5
    • PENDING SALESApril 2012 vs April 2011: UP: 18.0%YTD 2012 vs YTD 2011: UP: 17.5% THINGS ARE LOOKING UP!4/20/2012 Charbonneau Community Forum 6
    • AVERAGE SALES PRICEApril 2012 vs April 2011: Down: 1.8%YTD 2012 vs YTD 2011: Down: 0.9%Last 12 mo vs Previous 12 mo: Down: 5.1% THE MARKET COULD BE STABLIZING!4/20/2012 Charbonneau Community Forum 7
    • ECON 101: Supply Versus Demand • Supply is Down • Demand is UP BUT!……………Prices continue to Decline! WHY?..………..…The Shadow Inventory4/20/2012 Charbonneau Community Forum 8
    • SHADOW INVENTORY VOLUME • 2.0 million foreclosed homes will soon flood the market following a year-long investigation into lending practices • There are 3 million more homes underwater, close to foreclosure or in distress, meaning owners are 90 days delinquent on payments4/20/2012 Charbonneau Community Forum 9
    • SHADOW INVENTORY IMPACT ON HOME VALUES • According to the Federal Reserve Bank of Cleveland, foreclosed homes that have been on the market for less than a year sell for 35 percent below value • If homes remain on the market for more than a year, their price drops 60 percent4/20/2012 Charbonneau Community Forum 10
    • PORTLAND MARKET• Banks have learned that short sales are better (for them!) than foreclosures.• Demand is up• Inventory is down• Average Price is stabilizingALL GOOD NEWS FOR CHARBONNEAU MARKET4/20/2012 Charbonneau Community Forum 11