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About Vernonia's voice. (Vernonia, OR) 2007-current | View Entire Issue (Aug. 14, 2012)
12 in other words august14 2012 Living on a Lake in the Country: The Real Estate Market By Gayle Rich-Boxman The realm of real estate has been looking up lately, both nationally and locally. This last week in a report from the President of the National Association of Realtors (NAR), the following message was shared with the members of NAR: FROM THE PRESIDENT: Encouraging Signs “We’re seeing a lot of encouraging signs in the housing market across the country. NAR’s latest existing-home sales report shows there’s not inventory to meet the demand in many areas and that’s driving up prices and creating multiple bidding situations. These findings vary greatly from what we’ve had before”. In just the last two months (actually less), in our small community at Fishhawk Lake, Birkenfeld Oregon, I have closed four transactions. That might seem like a piddling amount to some, but in a tiny private lake resort community of only about 175 homes and approximately 300 lots, this is phenomenal! Fishhawk Lake is located in two different counties, Columbia and Clatsop. Within the last two months there were one hundred-eight recorded closings in these counties alone. These two counties are in rural areas, which makes it even more significant versus Portland and the Portland Metro area, with Multnomah, Washington and Clackamas counties being a far different market (and certainly vastly more populated) than Vernonia, Scappoose, St. Helens and Fishhawk Lake/Birkenfeld/Mist areas, to name just a few. During this period the breakdown of listing/sold pricing (from 0-$900,000): Average listing price: $178,109 Average sold price: $168,773 My four transactions came to a total of $514,000, with three of them being purchased by cash buyers. That’s an average of $128,500 per property. Three of the properties were homes, and one was a vacant lakefront lot, which can skew the numbers a bit, because vacant lots aren’t considered as valuable as property with an existing home on it. The lowest priced property was listed at $72,000, the highest, a custom-built cabin that started at $259,000. Lately, cash buyers have been more frequent than those acquiring loans to buy homes or lots. One of the latest problems being encountered by buyers across the nation, according to the NAR, is a lack of inventory, which plays in the favor of sellers. What I have found in my local market at Fishhawk Lake, is a different scenario. There are ready buyers who are quite particular about their needs and have been looking at properties at lakes, the coast, even central Oregon, but for the most part, aren’t wavering from their wishlist and aren’t moving on buying decisions as quickly as I have seen in years past. These “wishlist” items include: 2 bathrooms, lakefront, garage, secluded. Some would rather wait for D Na tu aga s COMPUTER & Owned and Operated by Don & Kim Wallace You can contact me, Gayle Rich-Boxman, Broker with Vernonia Realty directly at: (503)755-2905 or e-mail me: richbox@ centurytel.net You can also check out my website for current listings in the Fishhawk Lake community: http://www. lakehomesatfishhawk.com/. INTERNET SERVICES ral Path Health Ser ces vi g WiFi n i vid et & o r P tern In SL the right property to come along than buy now. I wouldn’t suggest taking this tack, because the prices are SO LOW and your favorite will be gone by the time you make a decision to move forward. This is not the time to waiver. This is the time to literally make a move. According to the mortgage banker that I always recommend, Shawn Baeschlin with NW Mortgage Group, here is the current rate as of August 7, 2012: The 30 year fixed rate is 3.50% This rate is for a home. The loan rates on vacant lots will be higher, possibly in the 7% range. The inventory (at least in my area at Fishhawk Lake) offers quite a variety and with the current interest rates at an all-time low, it’s NO WONDER that across- the-board, nationally, there is a lack of inventory! Dr. Carol McIntyre Naturopathic & Chinese Medicine 503.429.3928 cccmnd@yahoo.com naturalpathhealthservices.com 503.429.TECH jeff@agalis.net ! g? Interested inVendin 8-3705 ) 99 Contact Bill at (971 786 Bridge Street Vernonia, OR, 97064 Local produce & products, Hand-crafted goods, & much more! am pm Next to Black Bear Cafe
