Comments on: West Linn Real Estate Market Activity – September 14-20, 2009 http://www.move2westlinn.com/2009/09/21/west-linn-real-estate-market-activity-september-14-20-2009/ News, Statistics, and Commentary about West Linn Oregon Real Estate Wed, 23 Jun 2010 15:10:28 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: David http://www.move2westlinn.com/2009/09/21/west-linn-real-estate-market-activity-september-14-20-2009/comment-page-1/#comment-792 David Sun, 27 Sep 2009 00:30:36 +0000 http://www.move2westlinn.com/?p=994#comment-792 And the story on the Stafford Hill Dr. estate gets more interesting. I was looking at foreclosure listings on Yahoo Real Estate and I found the Stafford Hill Dr. House. http://realestate.yahoo.com/Oregon/West_Linn/sw-stafford-hill-dr:fd1ad49d26b1ccc4e368111133dec8?type=featured According to that listing the house will be auctioned off on 01/4/2010. Starting bid is 983K. The high end market is in a world of hurt. Even the "money belt" is not immune to foreclosures. And the story on the Stafford Hill Dr. estate gets more interesting. I was looking at foreclosure listings on Yahoo Real Estate and I found the Stafford Hill Dr. House.

http://realestate.yahoo.com/Oregon/West_Linn/sw-stafford-hill-dr:fd1ad49d26b1ccc4e368111133dec8?type=featured

According to that listing the house will be auctioned off on 01/4/2010. Starting bid is 983K.

The high end market is in a world of hurt. Even the “money belt” is not immune to foreclosures.

]]> By: Stuart http://www.move2westlinn.com/2009/09/21/west-linn-real-estate-market-activity-september-14-20-2009/comment-page-1/#comment-791 Stuart Fri, 25 Sep 2009 17:16:39 +0000 http://www.move2westlinn.com/?p=994#comment-791 "If only 2-3 homes are sold above 500K a week....." Except they seem to be listing at 3 to 9 per week, so supply is increasing. The buyers just are not there. Love the Stafford "Estate". Made me laugh. Sucks to be a $1M home "borrower" (We can't use the term "owner" any more) these days. “If only 2-3 homes are sold above 500K a week…..”

Except they seem to be listing at 3 to 9 per week, so supply is increasing. The buyers just are not there.

Love the Stafford “Estate”. Made me laugh. Sucks to be a $1M home “borrower” (We can’t use the term “owner” any more) these days.

]]> By: David http://www.move2westlinn.com/2009/09/21/west-linn-real-estate-market-activity-september-14-20-2009/comment-page-1/#comment-790 David Fri, 25 Sep 2009 07:06:36 +0000 http://www.move2westlinn.com/?p=994#comment-790 Stuart, I think you'll get a kick out of this rental listing I found. I was searching craigslist for rentals and I came across this: http://portland.craigslist.org/clc/apa/1390255995.html Stafford mansion for rent for $6275 per month. No it's not a joke. This house is also available for sale look at RMLS # 9041241 for 1.2 million. I guess he's trying to get somebody to cover his mortgage payments and property taxes. David Stuart, I think you’ll get a kick out of this rental listing I found. I was searching craigslist for rentals and I came across this:

http://portland.craigslist.org/clc/apa/1390255995.html

Stafford mansion for rent for $6275 per month. No it’s not a joke. This house is also available for sale look at RMLS # 9041241 for 1.2 million. I guess he’s trying to get somebody to cover his mortgage payments and property taxes.

David

]]> By: David http://www.move2westlinn.com/2009/09/21/west-linn-real-estate-market-activity-september-14-20-2009/comment-page-1/#comment-789 David Fri, 25 Sep 2009 04:49:05 +0000 http://www.move2westlinn.com/?p=994#comment-789 According to the RMLS as of tonight, there are 170 homes for sale listed at 500+K. If only 2-3 homes are sold above 500K a week, that works out to be about 12 per month. 170 divided by 12 is about 14 months of inventory. That's a lot of inventory to move. I think the 500K homes will continue to be under pressure. David According to the RMLS as of tonight, there are 170 homes for
sale listed at 500+K. If only 2-3 homes are sold above 500K a week,
that works out to be about 12 per month. 170 divided by 12 is about 14 months of inventory.

That’s a lot of inventory to move. I think the 500K homes will continue to be under pressure.

David

]]> By: Stuart http://www.move2westlinn.com/2009/09/21/west-linn-real-estate-market-activity-september-14-20-2009/comment-page-1/#comment-788 Stuart Thu, 24 Sep 2009 16:50:05 +0000 http://www.move2westlinn.com/?p=994#comment-788 Again, the aspirational market stumbles. Sub $500K keeps us in conforming territory. Is it possible that this is the future of the market for a while? The stock market is still down over 30% from highs, so the aspirational equity-owning classes still feel poor, and their jobs are proving just as vulnerable as the rest of us. The uber-wealthy in real estate have taken an almighty kicking in residential, and commercial looks set to be following that trend (Anyone want to buy a mall these days?) It does look like we may have hit the bottom when it comes to the conforming market (<$500K), but the "aspirational" segment has too little data and activity to determine where it is. However, I think it still has further to fall in $/sqft terms. Again, the aspirational market stumbles. Sub $500K keeps us in conforming territory.

Is it possible that this is the future of the market for a while? The stock market is still down over 30% from highs, so the aspirational equity-owning classes still feel poor, and their jobs are proving just as vulnerable as the rest of us. The uber-wealthy in real estate have taken an almighty kicking in residential, and commercial looks set to be following that trend (Anyone want to buy a mall these days?)

It does look like we may have hit the bottom when it comes to the conforming market (<$500K), but the "aspirational" segment has too little data and activity to determine where it is. However, I think it still has further to fall in $/sqft terms.

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