Real Estate Market Report
June by the Numbers
- Portland Area Months of Inventory: 1.5
- Portland Area Avg. Sales Price: $468,500
- YTD Average Sales Price increased: 2.6%
- Portland Area Closings increased: 38%
- Portland Area New listings increased: 7%
- Average market time: 42 days
How well is the Real Estate Marketing Recovering?
Coronavirus restrictions brought the U.S. housing market to a near standstill. Now it’s beginning to recover, if unevenly, as states enact their reopening plans, according to a report by Realtor.com.
The report compiles a “recovery index,” combining several market metrics and comparing the results through July 11 with January 2020 levels. These include growth in online search activity and new listings, as well as asking prices and time on market. While the index doesn’t measure the number of completed sales, promising gains in inquiries and prices are spurring optimism and raising values in several major markets.
Click the link below for more detailed information:
Source: nytimes.com
Rental Market Report
Rental News
Dealing with Tenant non-compliance in the era of COVID-19 (and most anytime)
Addressing tenant violations of the rental agreement is challenging anytime, but for rental owners facing issues with their tenants right now, it’s especially frustrating. The Governor’s moratorium combined with the Oregon courts closures that relegate eviction actions to the lowest tier of concerns, is becoming ruinous for some.
Worried that your tenants will bail owing thousands of dollars? I believe it will happen, but I also think it’s less likely to happen if you take a thoughtful, considered approach. While your property rights have been suspended for a time, there are still tools at your disposal: compassion, education, negotiation, social service referrals, non-compliance notices, and the police. Also, in extreme cases, the courts are still expediting urgent matters.
Click the link below for more detailed information:
Source: oregonrentalhousing.com
Thinking of Buying or Selling in 2020? Let us help!
July Homework
Check & Service Your Air Conditioner
With the summer heat coming, it is time to service your air conditioner unit. Servicing the equipment each year will help insure proper operation and the best efficiency, saving money through the summer months. If you use a window unit, make sure the areas around the unit are sealed to keep the warm air out. Make sure the unit is installed correctly and securely in the window, and that the window is locked in position so that the house is secure. Regular maintenance of your equipment will help insure it operates efficiently each year and will keep you cool all summer long.
Getting Involved with our Community
The mission of DONATION HOUSE is to create revenue and support for non-profit organizations that serve our communities and make a positive impact on people around the world. When a non-profit organization refers real estate business to a DONATION HOUSE business partner, they agree to return 10% of the proceeds back to the non-profit organization.
Recent contributions have been made to the following:
