John baines

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John baines

  1. 1. 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
  2. 2. 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
  3. 3. 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
  4. 4. 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
  5. 5. 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
  6. 6. 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
  7. 7. 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
  8. 8. 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
  9. 9. 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
  10. 10. 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
  11. 11. 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
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