Yamhill County Oregon's Wine Country Real Estate News

Hope the real estate market starts to heat up like the weather in Yamhill County!

2009-07-27T20:51:00Z

I hope you stayed relatively cool this weekend, I was a clown at the Old Fashioned Days Parade and made over 130 animals balloons for kids waiting in line for the Rotary Pancake Breakfast! I have to say 20 years on a clown makes a difference!!!

As far as last week’s activity it really does mirror the week before. Only one pending over 400k and that was in Yamhill County but had a Sherwood address.

Showings were down this last week and most pendings again are under the $200,000 mark. You can actually purchase a house with a list price below 70K!

Have a great week,

Kelly

Most of the pendings and solds last week in Yamhill County were below $250,000.

2009-07-20T19:58:00Z

Yamhill County in Review!!

Just got back from Mississippi where my youngest son was married. I have to say that living in Oregon is like a little bit of heaven!!

Inventory is up this week in both residential and lots and land, as well as bank owned.

Consistent with recent history most of the pendings and solds last week were below $250,000.

I also included how many actives are on the market in each price category which is quite interesting!

Mortgage rates are good, prices are good, everything is good for a purchase, tell everyone you know that things can’t get a whole lot better!

Have a great week!

Kelly

First Time Home Buyers Continue to Drive the Real Estate Market in Yamhill County

2009-07-13T18:22:00Z

“After all is said and done, usually more is said than done.”

This week’s activity in Yamhill County was almost the same as last week only fewer closed transactions.

We see a significant jump in bank owned properties entering the marketplace.

I may sound like a broken record but most of the sales again last week were below $250k. First time homebuyers are taking full advantage of the great deals, low interest rates and Buyer incentives.

Now is the time to be buying rentals near colleges for student rentals. If you have a child going to college talk to a lender on how to best accomplish a sale and future investment!

For those who have homes above 250k there is hope! We have had a small amount of looking activity in the higher price ranges this week. We had an several offers that started out ridiculously low but we are working them up!!

Our Sellers seem to be wise in not following the market all the way down but have been pricing their homes ahead of the market and staying on top of it. When that buyer comes along we are finding they are looking at our properties. We have had some significant price reductions this week!!!!

If you were a Buyer looking to purchase but waiting to pull the trigger what would it take for you to make the decision to write that offer??? THAT IS PRECISELY WHAT WE ARE WORKING TOWARDS!!

Have a great week!

Kelly

**A mortgage review from one of our preferred lenders: http://www.utipu.com/app/invited/id/80497b7a

4th of July week Real Estate action

2009-07-07T23:48:00Z

Hope you all had an amazing 4th of July!!

New listings were up a bit this week, so were bank owned on the market.

Pendings were down slightly but the majority of the pendings again this week are below the 200K mark.

Wow…people are getting some great deals!!!

You may be thinking not good for a Seller…but remember this… give on the selling side and you buy in the same declining market (location similar to ours) you really won’t have an equity loss. If you are buying up you can really gain equity advantage right now!

Competitive Seller pricing is the key to snatch those few Buyers out there.

If you know anyone that is thinking of buying NOW is THE time to buy! Interest rates go up, inflation goes up and we will be surprised at what our buying dollar doesn’t do.

Get the word out to ALL…and by the way have them look at your home if you have it listed :)

Have a great week…

Kelly

Good Weather Brings more Home Showings and Movement in Yamhill County

2009-06-30T17:50:00Z

With the good weather we have seen a slight pick up in showings, and looks like in Yamhill County a steady line of pendings!

If your home is listed under $200K then you can be assured if you are priced right your home will sell this summer!!

For the rest of the Sellers out there we have the best chance of selling right now if we are priced correctly.

A minor trickle of activity over 300K so that is encouraging.

Vacants are up another percent, third party listings and bank owned seemed to be holding.

On the lots and land front we see a few more pendings, one in the higher priced range.

One thing that we have seen in abundance is deals going together only to fall apart due to appraisal, inspection or buyers getting cold feet. I have talked to other agents and offices and we are seeing this across the board and in other Oregon areas.

We have seen a increase in relocations as well now that school is out.

It is still one of the most ideal times to purchase real estate…and the buyers seem to be poking their heads out to take a look at what is out there!

More Inventory Hits Yamhill County! Pendings up, Home Sales up - 11 months of inventory! It is a BUYER'S MARKET FOR REAL ESTATE!!

2009-06-15T23:41:00Z

Last week we had 8 new listings and this week we had 45!!

Pendings were up 6 and solds were up

7. 39% of the inventory is vacant up just a bit from last week!

We have 11 months of inventory on the market right now. That means that if we had no new listings come on the market after today, it would take 11 months to sell what we have listed.

It is definitely a Buyer’s market, we just have to get that through to BUYERS!!!

If interest rates continue to climb, the buyer power will diminish!!

We are getting the word out, but we need your help as well!!

Have a great week!

Kelly

listings and home sales down last week in Yamhill County. Significant price reductions. Interest rates moving up.

2009-06-10T19:27:00Z

I have to say that things really slowed down last week in Yamhill County.

Only 8 new active listings compared to the 23 from the prior week.

9 new pendings last week, 14 prior.

Only 5 closed last week, 12 prior.

While the very few pendings were under 250k, we had two above!!

I know that The Kelly Group set up a good amount of showings last week, a little slim this weekend however.

We also have had a number of significant price reductions, and had two offers on one home in Newberg (250-300)!

***Interest rates went up and so has the unemployment rate, see below.

The nation's unemployment rate climbed in May to 9.4 percent, the highest its been since August of 1983. Trivia Question: What is the “normal” unemployment rate on a good day??

(this is supposed to be encouraging) :)

Have a great week.

Kelly

Buyers coming into Yamhill County have over 900 properties to choose from, and we hope the rest of Spring brings some significant activity.

2009-06-01T17:12:00Z

Activity in Yamhill County last week!

Listings holding around 900

Pendings down from 29 the week before to 14 this last week. All but 2 under $250,000!

Solds up 3 from the week before. 10 under $300,000 and two were rural acreages in McMinnville and Dayton.

Vacants were down, bank owned remaining steady so far.

The word out there is…anyone who hasn’t gotten into the housing market needs to now!!!! Tell your family and friends to tell their family and friends!!!

2009-06-01T17:09:00Z

1. Is There Really a Free Lunch??? The $8,000 tax credit for first time home buyers is valid through December 1, 2009. This is a special tax credit from the government that does not have to be paid back, as long as you stay in the home for at least 36 months.

2. Grandma Could Not Of Done Better!! Based on recent property declines and current interest rates, home affordability has not been higher since it was first tracked over 40 years ago. Your grandparents couldn't have received a better interest rate than you can today.

3. Uncle Sam Still Likes Home Owners! The IRS allows you to deduct the interest you pay on your mortgage, your property taxes and, in many cases for those who qualify, some of the costs to buy your home and mortgage insurance. Owning a home is a great way to lower your tax bill.

4. Don’t Throw Your Money Away!! Unlike paying rent, with each mortgage payment you make, you build equity and you decrease your income tax liability. Owning a home is still the best long-term investment.

5. You Will Appreciate This!! As home prices have fallen precipitously in today's tough economy, the basis for realizing appreciation in future years is very strong. Historically, even with other periods of declining value, home prices have exceeded consumer inflation. From 1972 through 2005, home prices increased on average 6.5%, according to the National Association of Realtors®.

6. Is There Anything You Can Bank On?? Knowing you can establish roots and raise a family in one location, free of the desires or needs of your landlord to sell the property you are living in. This is something no other investment provides. You can't live in a stock, and you can't raise your kids in a bond.

Pending Home Sales Up in Yamhill County!

2009-05-25T18:20:00Z

It was a good week in Yamhill County, pending sales were up by 12 and we had two go pending over $400,000!!! One was city and one was rural.

We had twice the pending sales in the 0-200k category, it looks like the government incentives are encouraging first time homebuyers.

We also had one property sell over $400,000. It was a home on 8.7 acres in Dayton. It was listed at $549,000 and sold for $515,000.

Lots and Land held at 377 listings, no pending and none have sold in the last week.

Have a productive week or at least enjoy it!

Kelly

5 less pendings, and 5 less residential listings sold from the previous week

2009-05-18T15:49:00Z

Watching the weekly activity is interesting and it gives us an idea of who is participating in the market at the moment.

This last week inventory remained virtually the same, We had five less pendings, and five less residential listings sold from the previous week.

Vacant and Bank Owned properties remained steady. I have an interesting note as I have been snooping around. It appears that there may be up to as many as three times more bank owned properties that are present but not listed yet. Yikes! We better get our homes sold as quickly as we can!!!

I am also including a little report on the research I did for the years of 1999-2008. Interesting to say the least! Let me know your thoughts when you look at this one, I would be interested to get your take on it!

Have a great week,

Kelly

Last week in Yamhill County Real Estate - Inventory, Pendings, Solds All Up

2009-05-14T20:19:00Z

Last weeks numbers tell us that we have an increase in inventory in Yamhill County, Pendings were also up a tiny bit as well as solds and Bank owned properties inched up a bit. McMinnville seems to be the most active and most of the activity still rests with the homes that are priced under $250,000. We have had a few more lookers out, and a few more offers but have had the challenge of appraisal problems even in the lower end of pricing” Please feel free to call if you have any questions about the market and especially don’t hesitate to call if you want to buy a rental!!!

Memorial Day in Yamhill County!

2009-05-04T18:10:00Z

Take a look at all the rich and memorable things that you can enjoy on Memorial Day

http://www.yamhillvalley.org/memorial_day_09.php

There are great places to visit and Yamhill County is an amazing place to live! Exclusive Buyer Agency gives you everything you need for a successful homebuying experi

Yamhill County Real Estate Last Week in Review!

2009-04-28T22:24:00Z

New Active- 33 Pending- 18 Sold- 7

Last week total new listings in Yamhill County was down by six

Pendings were up by 4 from last week.

Solds remain steady at 7 again this week.

Bank owned were up by 4 however vacants were down by 9. Some of our solds were vacant homes.

Most of the action again last week was from $0 -$200,000 which is a definite result of the incentives for First time homebuyers. Not only are there incentives but there are some sweet deals out there.

Investors should not overlook this fact. Rental market is also booming and one can pick up a rental at a good price…What are you waiting for?!

Have a great week!