REOPro - Real Estate Default Professionals

America's Largest Social Network for Default Real Estate Professionals

Robert Page's Blog (16)

Bend Redmond Inventory Continues Long Slide Down

January brought us another new low in inventory in Bend and Redmond since starting this project in late 2009. We of course expect lower inventory in winter and higher in summer which the first two Bend charts show very well.  What is worth noting is all categories show a long-term trend of inventory decline for over 3 years.

Reminder: the charts and tables do not include bare land, multi-family homes, time shares or mobile homes without land.

The summer inventory peaks and the…

Continue

Added by Robert Page on February 13, 2013 at 2:37pm — No Comments

A quick summary: 2012 finished strong ending up 8.8% over 2011 when measuring by average Price Per Sq. Ft. and 11.7 % when measuring by average sale price. There are reports of 15% so I want to clari…

A quick summary:

2012 finished strong ending up 8.8% over 2011 when measuring by average Price Per Sq. Ft. and 11.7 % when measuring by average sale price. There are reports of 15% so I want to clarify that my reports are based on the following:

Residential Single Family Residences under 1 acre in Bend

I exclude the following from the report: Townhomes, Condos, all…

Continue

Added by Robert Page on January 21, 2013 at 1:04am — No Comments

List to Sold Ratios Dive into Negative Territory in December

List-to-sold ratios dove into negative territory in December. December List-to-sold ratios tend to be the lowest of the year anyway but this is the first time since starting this project in 2007 we have witnessed a monthly average in negative territory.

    Admittedly one month out of over sixty is but a blip on the radar screen. Even so it is a pretty big drop along a very long downward trend.  

Chart 1 shows the long downward trend over several years and the dive to negative…

Continue

Added by Robert Page on January 11, 2013 at 4:36pm — No Comments

We typically expect MLS inventory in the 4th to quarter begin dropping but boy howdy, inventory levels really dropped this year! We are at the lowest level since starting this project in 2009 and on …

We typically expect MLS inventory in the 4th to quarter begin dropping but boy howdy, inventory levels really dropped this year! We are at the lowest level since starting this project in 2009 and on a long-term downward trajectory in all three segments of sale type.

To see a graphic illustration of this trend view the charts and…

Continue

Added by Robert Page on December 22, 2012 at 10:46pm — No Comments

List to Sold Ratios Continue Trending Down

List to Sold ratios in Central Oregon took a leap down the past 3 months. We expect this in the fourth quarter anyway but what is really notable is the big shift down from the previous four years (See Chart 1).



That villain called variation I keep ranting about has really tamed down. Chart 2 depicts this decrease in variation extremely well. With this taming down of variation our market becomes more and more predictable. We do have that darn shadow inventory lurking around though.… Continue

Added by Robert Page on November 29, 2012 at 3:41pm — 1 Comment

Bend Home Sale Prices Rocketing UP

A quick summary:

2012 is definitely showing strong improvement; up 7% over 2011 when measuring by $/sq ft and 9.4% when measuring by average sale price. The rest of the story is the shrinking supply of inventory as has been shown for a long time now by the inventory and list to sold charts.

I don’t typically get excited about monthly figures but the past 5 months show a significant upward shift. See…

Continue

Added by Robert Page on October 28, 2012 at 5:23pm — No Comments

Inventory Continues Long Term Decline

Charts show a decline in inventory we’ve come to expect in the 4th quarter however they also depict a long-term trend downward. Of equal note, the past 3 years have shown an increase in Bank owned (REO) inventory in the 4th quarter. So far, that isn’t happening. It is early though, we’ll see.

To view charts and tables: …

Continue

Added by Robert Page on October 14, 2012 at 5:56pm — 3 Comments

List to Sold Ratios Continue to Improve

Made some changes to the charts to make it easier to see trends as well as changes in variation; change is definitely apparent.

List to sold ratios continue their long-term decline. Down in 2012 from 2011; down the last 3 months as we near the fourth quarter a time when, since 2007 (except 2009) they drop even further.  2012 has already seen the lowest list to sold ratios since the beginning of this project in 2007. If the 4th quarter trend repeats expect even lower…

Continue

Added by Robert Page on September 16, 2012 at 11:36pm — No Comments

List to Sold Ratios Continue to Suggest Future Declines in Inventory

Current price stabilization is certainly a result of the list to sold ratio’s slow but steady decline that began drastically in 2009 blipped up just a bit in 2010 and has been on a slow but steady decline since. If the 15 month average list to sold ratio of 1.6 for all of Central Oregon holds we should expect further inventory reduction. Inventory reports will be complete in a week or two.

Based on results since 2007, we have past the “typical” season of increasing list to sold ratios…

Continue

Added by Robert Page on June 21, 2012 at 1:17am — No Comments

Bend Sales Continue Improvement Trend

Our market remains dynamic!

A quick summary:

Our market continues on a very long, slow but steady improvement trend. By many measures this improvement trend began in 2009/2010.  See list to sold ratio charts, inventory charts, sales price charts etc.

As usual, the media is slow to recognize subtle changes and is just beginning to pick up on the accumulated improvement, adding positive influence to the difficult to measure but ever important perception…

Continue

Added by Robert Page on May 24, 2012 at 3:31pm — No Comments

List to Sold Ratios at Lowest Rate Since 2007

Even with a healthy seasonal uptick, 2012 is starting off at the lowest list to sold ratios since beginning this project in 2007. The REO segment, which were it not for huge losses to the seller, continues to act like a hot sellers market, continuing to create many a disgruntled would be buyer.

Demand for Central Oregon Real Estate has been and remains very good, especially in Bend while supply has a long trend of decline behind it. If these trends hold, past price firming trends…

Continue

Added by Robert Page on March 25, 2012 at 11:58pm — No Comments

List to Sold Ratios Continue to Improve in Central Oregon

Been converting the list-to-sold charts into a more user-friendly SPC format creating an easier to read and interpret chart. Clarity was greatly improved allowing me to resurrect the original daily list to sold ratio chart.  It shows some fantastically high variation back in early 2007 when our market was screaming, largely unheeded to us of change.  It wasn’t until 2008 when the Feds declared (admitted) that we had been in a recession for a year, did the general public begin to reluctantly…

Continue

Added by Robert Page on March 7, 2012 at 9:26am — No Comments

Bend RE Off to a Good Start in 2012

If you’ve been tracking the list-to-sold and inventory charts and tables you are very aware that inventory trends have been moving down for a long time. Even so, prices continued to decline, albeit at a slowing pace. Even so, it seemed that if this trend continued, surely price firming and possibly price increases were on the horizon, right?

 

It’s finally beginning to look that way as price direction is looking pretty flat which is a vast improvement over the cliff-like…

Continue

Added by Robert Page on March 1, 2012 at 11:29pm — No Comments

Bend REO Sales Data Look Like a Seller's Market

REO Sales Data 10/01/11 to 01/16/12 http://www.centralorproperty.com/Central,ORTrends.html
 
Also now on: http://centralorhomesales.com - Look for market report tab


     REO marketing times remain very low and…
Continue

Added by Robert Page on January 29, 2012 at 7:00pm — No Comments

Central Oregon List to Sold Ratios Continue to improve

Quick Summary



We have been and are currently experiencing flattening to downward pressure on inventory coupled with close to average sales activity. Positive appreciation experienced 2nd qtr over 1stthis year could very well be repeated if current trends continue and some or all of historic trends occur again (see first…

Continue

Added by Robert Page on September 4, 2011 at 1:52pm — No Comments

Bend REO Inventory Remains Low

Inventory levels remained flat since July’s numbers. REO remains much lower than levels last year (approx. 60% lower) and short sale inventory is much lower as well. These conditions have resulted in a significant reduction in selection for the buying public as a vast majority of “non-distressed” properties remain listed anywhere from 10 to 50% or more above what the buyer has become accustomed to.



As witnessed by the historical price charts for Bend we saw an increase in sale…
Continue

Added by Robert Page on August 29, 2011 at 11:54am — 3 Comments

© 2019   Created by Jesus (Jesse) Gonzalez.   Powered by

Badges  |  Report an Issue  |  Terms of Service