Inventory continues to increase in Hood River County. We have been seeing this same increase in  Wasco County as well. In Washington, Klickitat and Skamania County, the inventory has been more stable and we are not seeing these same increases yet. For buyers this may a bit of good news. The other bit of good news is interest rates have fallen back down below 4% for 30 year conventional mortgage. Sales were up this last month, 29 compared to 18 sales last month. This is typical, when inventory increases sales do tend to increase. However, unlike the previous years our inventory is increasing faster than sales.We are starting to see the market change. Many have predicted that thing may start to slow in 2020 - it will be interesting to see what happens this second half of 2019. Many have asked how Insitu layoffs have affected our market. So far we have not seen a noticeable change due to the layoffs. If you have any   questions or would like specific information on a listing, please feel free to give me a call.

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It’s starting to feel a lot like summer! With the warm weather and the end of the school year approaching it feels like the real estate market is picking up. As real estate agents we are starting to hear more and more people thinking about selling—so not quite reflected in the numbers yet. Currently there are 30 homes pending in Hood River County, about half of those are homes under $450k. Based on the pending data, under $450k the average days on market is 25, median days on market is 5. This is a very active segment of the market and one that is important to be prepared to move fast and to not be surprised if you are in a multiple offer situation. Comparatively above $450k in Hood River County the average days on market is 108 and the median is 38. The Fed has agreed to hold rates which is good news for buyers. Rates have been hovering around 4.25% for a 30 year fixed mortgage. If you have any questions or would like specific information on a listing, please feel free to give us a call.

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Spring is here! It has been nice to see blue skies after our late snow fall this winter. Things seem to be picking up in our local real estate market. However, we have not seen an increase in inventory like we have been hoping for, since sales have been increasing at the same rate that homes are being listed for. Mortgage rates have been going back down, which is good news for buyers and if you currently have a mortgage with an interest rate near or above 5% it may be worth getting in touch with your lender, or let us know if you need a referral. Hood River County School District has been discussing school boundary changes that could become effective as soon as the upcoming school year. Visit their website to see some of the proposed changes. If you have any questions or would like specific information on a listing, please feel free to give me a call.

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Currently listings for Hood River County are at their lowest level since June of 2017. Many people are hoping once the snow clears we may start to see more homes come on the market. Sales tend to follow our inventory as our inventory decreases so do the number of homes that sell. If you are thinking of listing now is a good time with the competition low. Another big news for the state of Oregon is on Feb 28th, Senate Bill 608 passed, effective immediately. This bill limits the ability of a landlord to terminate a tenancy without cause and also provides rent control. This bill will effect real estate sales because many times now a tenant will need 90 days notice and depending on how many rentals the landlord owns they may have to pay the tenant one month of rent as well to end tenancy. Many details of the bill are still being discussed, but if you would like a summary of the bill, let us know! If you have any questions or would like specific information on a listing, please feel free to give us a call.

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Brrr! The snow has finally arrived in The Gorge. The inventory in Hood River County remain low and could drop a little further these next couple of months especially with the snow. Snow will sometimes cause sellers to delay sticking their home on the market. As many of the previous newsletters spoke about the market starting to flatten and signs that things are cooling off a little, we are now starting to see the data. The average residential price in Hood River County decline in 2018, going from $475,274 in 2017 to $457,620 in 2018. Other counties in The Gorge did not experience a decline, but have continued to see their average sales price increase. If you are a tenant or own a rental in Oregon—you may want to take a look at Senate Bill 608. If passed this bill will limit the amount a landlord can increase rent each year and changes the terms for landlords who are wanting to end tenancy with a tenant. If you have any questions or would like specific information on a listing, please feel free to give us a call!

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Inventory is declining, which is typical this time of year. Affordability continues to be a problem in many areas        including the Columbia River Gorge. In a poll, 86% of Oregonians viewed saving enough for a down payment and closing costs as a significant obstacle to buying a home. One new tax deduction is available to Oregonians as of 2019 to help with this. First time home buyers or home buyers who haven’t owned a home in 3 years may deposit up to $5,000 (single filers)/ $10,000 (married filers) into an account and have it be tax deductible to help with those costs— consult your tax account for more information. Many people are anxious to see what this new year brings in terms of our local real estate market. Some of our predictions — interest rates will continue to slowly rise,       inventory levels will increase slightly compared to last year, days on markets will be longer, we won’t see as many sales as we did in 2018.  If you have any questions or would like specific information on a listing, please feel free to give me a call.

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It has been cold, but no snow yet! We are heading towards the end of the year. Winter does tend to be a slower time of year but overall the real estate market appears to be changing and not just making a seasonal adjustment. We have been seeing the usual inventory decline, but this Winter is a different market than last winter. When looking at Hood River County we have seen a 4% decline in average residential sales price. The Dalles and White Salmon areas have still been showing signs of strong markets with 8-10% increases in sales price. The days on  market in Hood River County has also increased averaging 90 days on market for 2018 and 52 for 2017. It will be interesting to see what this spring brings to our area. One thing we do like to remind people are these are general trends, if you would like to find out what the market is like for your particular property, let us know, it really does vary based on price range and area! If you have any questions or would like specific information on a listing, please feel free to give us a call.

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We are starting to see that the number of homes on the market are beginning to taper off as we approach the  holidays/winter. The number of homes for sale currently is almost the exact same number as last year at this time. Overall in 2018 our inventory level has been more consistent, we did not see the super low inventory levels in the summer like in 2017. We are still seeing interest rates for mortgages increase slightly, currently they are   hovering around 5% for 30 year fixed conventional loan. They still do predict rates to continually slowly increase. As the winter approaches it is important to remember to winterize sprinkler systems, clean gutters and downspouts, disconnect hoses and a good time to replace your furnace filter if you haven’t done it recently. If you ever need any recommendations for service people to help you with items like these never hesitate to reach out to us! If you have any questions or would like specific information on a listing, please feel free to give us a call.

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Fall is here! The weather is cooler, kids are back in school & the fall colors are coming out! September has traditionally been one of the highest months as far as active listings, which seems to have held true this year. Typically inventory will then go down as we approach the holidays. Many people wonder is now a good time sell and we do believe it is. Many sellers withhold listings because they don’t want to be bothered with showings or moving during the holidays or winter, but many buyers continue their search and are anxious to get into a new home before the holidays or year-end. Usually there are not as many sales during the winter months but it is  correlated with the number of homes on the market. Many buyers that are looking right now are even more anxious because they are worried about interest rates going up, which has continued to be the trend. 30-year interest rate have continued to inch close to 5%. If you have any questions or would like specific information on a listing, please feel free to give us a call.

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Fall is coming and school has started! August was another strong month for home sales. We are finally starting to see the inventory increase in Hood River County, which is typical for September in our area. Compared to last year at this time we are at about the same level. A little over 70% of inventory in Hood River County is above $400,000 and 15% is above 1 million. In Wasco County there are currently 108 homes for sale, last year at this time there were 128 homes. Unlike Hood River only 20% of the inventory is above $400,000 and under 2% over 1 million. Even though Wasco County is only 20 minutes from Hood River, they are very different markets! Just like the national statistics, our home prices have been climbing faster than our rent prices. We have seen a slight uptick in rents but nothing like we did 2 years ago. If you have any questions or would like specific information on a listing, please feel free to give us a call.

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