Here on the Summa blogs, we’ve repeatedly pointed to the foreclosure mess when assigning blame for the current housing slump, regularly observing that the huge delay in processing foreclosures has resulted in an unwillingness to buy new and non-foreclosed homes due to the price disparity, driving down overall home prices. But just how bad is the situation? Well, according to Lender Processing Services, very; although it is steadily improving. Read More +
There are a number of reasons that home sales should be seeing a prolonged downturn, such as extremely strict lending standards (although very low interest rates), a spike in contract failures and unemployment rates that continue to be higher than ideal. However, despite all that, the National Association of Realtors (NAR) reports that home sales actually saw an uptick again in October. Read More +
For the first time in a while, new reports released regarding the economy show almost all good news. According to data that came out today, claims for unemployment benefits dropped to the lowest level in seven months in October. In that same month, new housing construction permits jumped to the highest level since March of 2010. Read More +
A couple weeks ago, the federal Home Affordable Refinance Program (HARP) announced a forthcoming change to their rules that would offer refinancing options to many paid-current homeowners who owed more on their mortgage than their house is worth. If some recently released data is any indication, those rule-changes may be especially helpful in the Portland metro area. Read More +
While recent modifications to the Home Affordable Refinance Program (HARP) hope to help prevent some foreclosures, another federal organization is offering recourse for victims of wrongful foreclosures. Read More +
Residential construction in the Western US increased in August, according to data recently released by the US Census Bureau and US Department of Housing and Urban Development; this in comparison to August of 2010. Read More +
CNN Money released their annual list of the 100 Best Places to Live (Small Towns), and while many Oregon cities were overlooked (no Lake Oswego?!), a couple were included on the list, which was compiled based on several criteria such as housing, job growth, average income, commute and cleanliness of air.
West Linn appears at number 69 on the list, with CNN citing its scenic surroundings and short commute to Portland workplaces, while Sherwood closes it out at number 100, thanks to its proximity to Portland and major employers like Intel and Nike, as well as its own unique independent-of-Portland culture and respected restaurants. Below the cut, check out the full list of towns. And click here to view properties available in Sherwood, and here for West Linn homes. Read More +
A definitive answer may be on the way as to the legality of MERS foreclosures in Oregon, thanks to a recent ruling in favor of MERS, contradicting an earlier ruling in a similar case. Read More +
While uneasiness is still present as to the current viability of Portland and Beaverton real estate, some recent transactions indicate a positive trend. Vancouver-based Holland Gables LLC has ramped up its investment in Beaverton, purchasing two properties from Equity Residential Properties Trust of Chicago. Read More +
On Wednesday, several of us from Summa attended the Inman Agent Reboot in Portland, a great way to learn a little more about the real estate technology that is helping drive the evolution of our industry, as well as validate (or invalidate) that some of the things we’re doing are good. Read More +
