by RMLS Communication Department | Jul 31, 2009 | Market Trends, Oregon Real Estate, Washington Real Estate
With all the stories in the media, it seems like everyone is facing foreclosure these days. (Even Michael Jackson’s doctor.) So I thought it would be interesting to look at the foreclosure market in our service area to find out what’s really going on.
We currently have 30,276 active residential listings in RMLSweb–this includes Oregon and Washington. Of those, 1,172 are marked as Bank Owned. That’s approximately 3.9%.
Out of curiosity, I took my research a little further to find out how well Bank Owned properties are selling versus the entire inventory in our markets. So far in July 2009, 2,707 properties in our entire database sold. According to my research, 430 of them were marked Bank Owned.
If we didn’t add any more listings of any kind to RMLSweb and the active residential properties kept selling at the same rate they did in July it would take 11.2 months to sell our entire inventory and only 2.7 months to exhaust the inventory of Bank Owned Properties.
Granted, it’s only the morning of the last day of July so it’s likely that we’ll see the numbers of sales go up over the next few days, but this should give you a snapshot of what’s going on with Bank Owned properties.
by RMLS Communication Department | Jul 31, 2009 | Market Trends, Oregon Real Estate, Washington Real Estate
With all the stories in the media, it seems like everyone is facing foreclosure these days. (Even Michael Jackson’s doctor.) So I thought it would be interesting to look at the foreclosure market in our service area to find out what’s really going on.
We currently have 30,276 active residential listings in RMLSweb–this includes Oregon and Washington. Of those, 1,172 are marked as Bank Owned. That’s approximately 3.9%.
Out of curiosity, I took my research a little further to find out how well Bank Owned properties are selling versus the entire inventory in our markets. So far in July 2009, 2,707 properties in our entire database sold. According to my research, 430 of them were marked Bank Owned.
If we didn’t add any more listings of any kind to RMLSweb and the active residential properties kept selling at the same rate they did in July it would take 11.2 months to sell our entire inventory and only 2.7 months to exhaust the inventory of Bank Owned Properties.
Granted, it’s only the morning of the last day of July so it’s likely that we’ll see the numbers of sales go up over the next few days, but this should give you a snapshot of what’s going on with Bank Owned properties.
by RMLS Communication Department | Jul 30, 2009 | RMLS News, RMLSweb
As we previewed in an earlier post, to help you handle short sales more efficiently and to help the other types of properties that require 3rd Party approval to get fair exposure, we’ve added Short Sale Yes/No and Short Sale Offer (Seller Accepted; Submitted for Approval) Yes/No to Listing Load.
Watch this short tutorial to learn more about how to use these two new fields.
For more information on short sales see the National Association of Realtors Short Sale Field Guide.
by RMLS Communication Department | Jul 29, 2009 | Oregon Real Estate, Tips & Tricks, Videos, Washington Real Estate
Here’s a few hot weather tips I came up with for real estate agents as we all cope with a potential high of 107 today here in Portland!
1. If buyers close on 100+ degree day, offer a window A/C unit as a closing gift (good luck finding one right now, though).
2. Selling agents: if your listing has A/C or is A/C ready – make sure you’re showing those houses now! The heat should really make that selling point stick in the buyer’s mind (and their shirt stick to their back).
3. Keep a cooler full of water bottles for your clients in your trunk when showing homes.
4. Always offer to purchase a Slurpee for your clients.
5. If you happen to be rolling in a convertible while showing homes – apply sunscreen between 10 a.m. and 3 p.m., or put the top up.
PS: If you use an ActiveKEY, make sure not to leave it in a hot car for long:
[youtube=http://www.youtube.com/watch?v=h-fdVTBBiCM]
by RMLS Communication Department | Jul 27, 2009 | Portland, RMLS News, Tips & Tricks, Videos
Short video shows why RMLS™ subscribers should keep their ActiveKEYs out of the heat this week
We’re going to have some serious heat in most of Oregon & Southwest Washington this week. As you try to stay cool in the hot weather, keep in mind this friendly ActiveKEY battery tip from Supra:
“Temperature extremes can affect battery performance. If the ActiveKEY is below 0° C (32° F) or above 40 ° C (104° F), it will not charge. During very cold or hot times of the year, bring your ActiveKEY in from your car at night and between showings.”
Also, watch this short video that poses the question – what happens when you leave an ActiveKEY, a frozen pizza and a frozen peanut butter cup in my 1997 Geo Metro that is parked in direct sunlight?
[youtube=http://www.youtube.com/watch?v=h-fdVTBBiCM]
We filmed this a few weeks ago when it was up to about 94 degrees, so keep in mind that you might see more dramatic results in the next few days. Anyone have any other suggestions for things we should try to melt in my car?
PS: We really do recommend that you remove your key from your car if it’s going to be parked in the sun for a long time – especially for agents that go to our Portland office – because we currently have a limited supply of ActiveKEYs due to a parts shortage at Supra. If you do need to get a new ActiveKEY, please call ahead at 503-236-7657 to ensure that we have one available for you.
