Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com
Agness sings “On and On”
JULY 2010 PORTLAND METRO REAL ESTATE UPDATE
In the residential market of the greater Portland Metro area, we saw inventory stay relatively low month-to-month from May to June of 2010. We hit a year-to-date low of 7 months of inventory in May 2010 and jumped just slightly to 7.3 months in June! When comparing June 09 to June 2010, closed sales increased 13.3%. However, comparing June with the preceding month, closed sales dropped 1.9% and but pending sales grew 8.4%. The average total market time is now 121 days for June and year-to-date it is 132 days on market (DOM) to sell (compared to 147 DOM in 2009). We definitely saw sales stagnate with the end of the tax credits.
We are getting very mixed messages from the marketplace. Overall, the stats are stronger for 2010 as compared to 2009. However, the average sales price for June 2010 still declined 3.3% compared to June 2009 and the median sales price also fell 4%. Comparing the 2nd quarter of 2010 (April-June) with that of 2009, there are gains across the board. Closed sales rose 34% and pending sales and new listings also saw increases of 1%. So, there is more activity but not a repair in pricing. I believe that there could be more activity because our decline has slowed and people feel more confident to move forward with their real estate plans. But, the market is still very sluggish and competitive pricing is still “King” and “Queen”. There seems to be very little emotion attached to the purchase. IF it’s not perceived as a deal (i.e: priced correctly for location and condition) it will be ignored both by the Realtors and the buying public. The showing activity is already smaller due to a limited pool of available and qualified buyers, so being competitive is paramount to success!! And, remember that the old adage is still true: you have the most “power” when you are new and fresh on the market. The longer you sit as over-priced “non-competitor”, the more stale and stagnant you become. Of course, our sense of timing has been skewed by the former frenzied marketplace of 2005-2007 and we need to readjust our expectations to fit our “new normal”, which means more time on the market even priced correctly, but you will know you’re priced at least close to market by the activity you receive. We still have the ramifications of the short-sale and foreclosure market and that will affect our pricing continuum for quite some time (or until that inventory is absorbed).
Despite the fact that legislation has been introduced to supposedly make the loan modification process easier for the consumer, that has not been the experience of anyone I know. And, there are lots of scams to avoid. Thus, there will be more short-sales and foreclosures that continue to enter the marketplace. There are reasons to attempt a short-sale rather than foreclosure or a strategic default and it’s good to know your options, if that situation should arise.
Buyers: way to pick a great time to buy! If you have nothing to sell, you would be hard-pressed to find better mortgage rates, lots of choices and adjusted prices. You just have to get your “ducks in a row”. The hardest things about too much choice is not getting overwhelmed and having a little faith. Also, try not to over-analyze (often easier said than done). If you have something to sell, you must get realistic and make sure the numbers work for you to make the next real estate move. Brainstorming with trusted professionals can be invaluable!
Sellers: The one piece of good news of which I can remind you is that if you are selling and buying in the same market place, you will not get as much for your home as might have at one time but you will also buy for much less than you would have at one time. Again, there are no secrets to marketing and selling your home. There is definitely no magic to overcome being overpriced. The preparation is the same in this market as any other market (only even more important due to the competitive nature of the marketplace): Pricing, Condition/Staging, Location. Once you are ready for market and priced competitively, your Real Estate Broker has to make sure you are prominently displayed on the web. Every agent has their favorite web sites and your input into the marketing is invaluable! Remember, this is a partnership and nothing can be accomplished if you don’t trust your Realtor. My ultimate goal: you are happy…not just done…with the transaction!!
About the Author | Janeese Jackson
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