Real Estate - Rick Maurmann

Real Estate

Rick Maurmann's

MARKET UPDATE

Home Sales in 2010

To receive my next market summary and update on area home sales, e-mail me at RickMaurmann@MyOregonHomeValue.com

In a word, or two, UP BIG! While January 2010 was about the same as prior year, sales by our company surged 60%! From $15 million last February, to $24 million in 2010!

Home prices in our area never really got that far out of line (land did), so the price adjustment was quick. Area home prices are at bedrock. This, combined with very low interest rates and almost 2 years of pent-up demand will create a nice rebound for the rest of 2010.

Several days ago Warren Buffet (we listen to him) stated that “Housing would recover by 2011.” That means it has already begun. We stand by our earlier call that area home prices will increase 5% by year’s end. With so little new home construction this past year and a half, supply will become the issue by mid-year. This bodes well for existing home sales.

Eight years ago we created our “Lifetime Handyman Repair Service” program. We are thrilled to announce that, in that time, our clients have saved over $2,900,000 in repair bills! We provide these same services, FREE, to all of our clients when selling their homes!

2008 and 2009 were tough, but all of us at Coldwell Banker Mountain West Real Estate, Inc. were tougher! We never stopped advertising, offering free repairs and free moving truck rental, and we never stopped selling homes!

We see this year as the best of a home buyer’s market, while interest rates are around 5% and prices adjusted to where they are.

As we move towards the end of the year, we will move to a more balanced market.

"What's my home's value?"

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Rick Maurmann, Broker, GRI, CRB, ASP

503.871.3848