Dava Behrens

Dianna--

Thank you for the inquiry. I'm sure your home is quite nice, based on the age and amenities you've listed.

Manufactured homes in parks are a bit of a specialty, requiring additional insurances for the brokerage firms that participate in that market niche (homes in parks are not considered "real property". Our firm has determined that manufactured homes in parks are not part of our marketing niche.

We are able to help buyers and sellers of manufactured homes that are "de-titled" and are considered "real property". I could refer you to a local agent that specializes in that market area if you like. - Mon Sep 8 2008, 18:00

Seeing price changes and adjustments to list price is not necessarily a "price drop" in the market. That really depends on where the prices started and what you are comparing. Some properties are sitting, some are not. On occasion, we still see multiple offers for some properties. Different price tiers are experiencing different results, which can throw off “median” and “average” sales prices. The number of sales are down significantly 2008 over 2007, which can also have an effect on “median” and “average” sales prices. In a market as small as ours, a few low or high priced properties can change the average pretty easily.

You might choose to study the market for the type of home you are seeking and in the price range you are searching for rather than look at a broad picture. As to the second half of your question… a lot of what drives our market is supply and demand. Interest rates are still very low – at 6.0-6.5 percent the range is some of the best cost of money we’ve ever seen. The economy here is relatively good. Money for buyers is available (they just need to do what they always did before, qualify for the loan). We have not had an explosion of subdivisions—yes, we’ve had growth, but not uncontrolled as in other markets. We also had high rates of appreciation, but not out of control. nor do we see a huge number of short sales and foreclosures as Corvallis didn’t experience the high numbers of sub-prime loans found in other areas. We are a desirable destination for everyone from young families to retirees.

Recent reports indicate that there is some relief in the hardest hit markets. When those markets absorb the excess inventory and come into balance it will help to loosen up the rest of the country. Most real estate professionals in Corvallis do not expect a prolonged correction in our market. As long as interest rates remain reasonable and employment is relatively stable, the Corvallis housing market will continue to be stable and/or improve. So, no significant reduction in prices is expected. - Mon Jun 16 2008, 17:31