Comments on: West Linn Real Estate Activity, May 25-31, 2009

By: dj

dj — Fri, 05 Jun 2009 17:39:11 +0000

Good point Stuart. The new development you are referring with the low $400K starting price should put a lot of pressure on the other new developments on WL. For example, the ICON development home just off Salamo road opposite Barrington Heights started in the upper $600K range last year, but just recently had a $100K haircut and are starting in the upper $500K. The former Legend Homes development (now bank-owned) and the DR Horton right behind Tanner Creek Park has been selling for $350-$450K range, if you’re a regular follower of this site, and the Renaissance Homes have yet to capitulate on pricing, but they haven’t moved many homes either. So, the $400K starting price is very good, but I just hope the builder doesn’t try to pull a bait-and-switch, and get you in on the price, but then if you want the house with plumbing, you need to pay an extra $100K. Buyers these days are too smart and too sensitive to fall for these marketing ploys, and all it will do is damage the development’s reputation. But, I have faith that the developer will do the right thing.

By: Stuart

Stuart — Wed, 03 Jun 2009 06:16:30 +0000

And didn’t Centurion Homes just up the ante with a “from the low $400,000″ on the new development opposite Rosemont middle school? (Website says $600K to $1,000,000+).
http://centurionhomespdx.com/rosemont-crossing Makes you think about where the extra $200K per house was going to go, doesn’t it?

By: dj

dj — Tue, 02 Jun 2009 00:24:21 +0000

This sites gets better and better over time. Thanks Jody for adding in the additional metrics. Very informative indeed. From sales activity standpoint, same observations as Stuart made last week. Home prices still looking for a bottom, and in general, buyers are still nervous about their personal finances, which continues to dampen home-shopping enthusiasm. West Linn is a great place to live, and I think the falling home prices will make this market more accessible to a broader group of people, which in turn will (hopefully) spur demand.