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Market Conditions in Oregon : Real Estate Advice

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  • Local Info6
  • Home Buying78
  • Home Selling15
  • Market Conditions4

Activity 264
Wed Dec 21, 2016
Derek Goude answered:
Hope you are well Ariel

I have not heard of a purpose built tool for the public to use. I have done hundreds and hundreds of valuations for different lenders. I have two valuations that I need to finish up later today. For a professional grade valuation of a specific property, it takes experience. The lenders understand this and require an agent to have been licensed for at least 2 years before they will even consider your application as a vendor. There needs to be a human involved to increase the accuracy of a valuation.

Experience has taught me that there are many characteristics of a property that a data dump doesn't measure. Location and condition in particular. For a simple example, two potential comparables are in east side of Eastmoreland with similar locations to your subject. Do you pick the comp with Duniway Elementary or Lewis with your subject having Lewis? If you pick the comp with Duniway what adjustment do you apply to the comp, if any? To compound it further, the comp with Duniway is on Cesar Chavez Blvd. Now what do you do?

For the majority of the lenders that I work with they have very broad criteria for acceptable comps. They then rely on you to pick the most applicable of potential comps to the subject. They are trusting your experience. Sometimes you have a list of 50 comps to choose 3 from. At other times you have 1 potential comp, but still need to choose 3. Which criteria do you choose to expand more than others?

If you would like a *.csv of potential comps for a particular address, send me an email. derekgoude at gmail. You could then extract the data for calculations. I have the tools and don't mind sharing.

Take care of yourself
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Thu Aug 11, 2016
Angelica P answered:
Hello,

To start, I would like to note that the Trulia estimate is an estimate derived from our proprietary algorithm. Our estimates use a ton of info, including recent sales of similar homes and home facts like number of bedrooms and bathrooms, square footage, and more to provide insight into what a home is worth. This data is compiled from public records and other sources for counties across the US. Please know that we do not intend for the estimate to replace a comparative market analysis as they can take into account market intricacies that the Trulia Estimate cannot. The Trulia Estimate is really meant to be a starting point in determining a home’s value and is not an official appraisal. To learn more about the Trulia estimate, we encourage our users to follow this link: http://www.trulia.com/trulia_estimates//.

Please also note that we do not directly edit or remove Trulia estimates. While we monitor customer feedback for systematic issues with the algorithm, we do not change individual estimates in response to customer feedback. We understand however, that some homes may be unique in ways that are not well captured by existing data. To provide more information on your estimate, we encourage you to claim your home and update its facts if you notice any information is outdated.

Updates to your home facts will be factored into your home's Trulia estimate, however, if the updates are not significant enough to impact the home's value, your estimate may not change.

If you're looking for a precise value for your home, we recommend you talk to a real estate professional.

http://www.trulia.com/directory/

One thing to consider is that when you do put your home on the market, the Trulia estimate will disappear as it is a feature only available for off market properties.


Thank you for suing Trulia!

Angelica
Consumer Care Advocate
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Thu Jul 14, 2016
Gary & Linda Fittro asked:
Sat May 28, 2016
J4029 answered:
I build custom for 115 to 125 per sf with medium finishes....I.E. kitchen appliance allowance $4000 Albany Corvallis area
5419800989
0 votes 5 answers Share Flag
Thu May 5, 2016
Su Carey asked:
can I continue to show my home while a heating oil tank is being decommissione in the front lawn. If so, will miss our selling summer season.
0 votes 0 Answers Share Flag
Sat Oct 24, 2015
Geff Kinnaman answered:
Yes, we just had a ribbon cutting for a new development that is breaking ground next week and the lots in the development were just listed this week. In Sisters - ClearPine. Give me a call for more info! Geff 541-771-2330 ... more
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Fri Aug 7, 2015
Jonathan Greenlee answered:
You should use RedFin to search for similar sold homes in your area. this will give you an idea. This is what buyers use.

Unfortunately there is not "one true price" when it comes to a real estate asset. The value is determined by the buyer(s) that are willing to buy in that time and place. They don't expect to pay you a certain fixed % of appreciation between now and 2014...they look at comparable sales. ... more
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Sun Jul 12, 2015
Frank Von Arx answered:
The two brokers are either incompetent or figure the general buying public isn't as smart as the two buyers proved to be. Space rental, HOA, whatever, is always an obvious consideration in manufactured home communities like this - thank you Ellerose51 for having a decent answer. ... more
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Tue Jun 23, 2015
Gracechurch.pdx answered:
Calvin Presbyterian Church
Tigard, OR

Cedar Creek Church
Sherwood, OR

Lake Grove Presbyterian Church
Lake Oswego, OR

River West Church
Lake Oswego, OR

Horizon Community Church
Tualatin, OR
... more
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Thu May 28, 2015
Lynda Stallings answered:
I've lived her for 15 years. The only thing I've heard about are theft of batteries from RVs. Bicycles when left out front. Other than that. Nothing.
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Fri May 15, 2015
Monamarie McCreary, SFR answered:
Clackamas County has a great tool for locating the specific schools for a given address. CMAP can be found at:

https://cmap.clackamas.us/
0 votes 3 answers Share Flag
Wed Apr 22, 2015
sandra asked:
This question was asked from http://www.trulia.com/property/3187075208-121-NW-2nd-St-Ontario-OR-97914?ecampaign=con_day_propertycomp_bk&eurl=www.trulia.com%2Fproperty%2F3187075208-121-N…
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Sun Mar 22, 2015
Rushell Wood answered:
According to the listing on MLS, the HOA fees are $213, which includes the following: water, sewer, garbage, pool, fitness center, clubhouse, grounds maintenance, exterior building maintenance, etc. ... more
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Sun Mar 15, 2015
Larry Bracken answered:
in blue grass downs there is no limit
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Fri Jan 30, 2015
Dawn Powell answered:
No. This is house is on the west side of town and Lone Pine is on the East side.
0 votes 1 answer Share Flag
Fri Jan 30, 2015
John Steinbergs answered:
Choosing a price to list your home should take into account the property's comparables in the market area. Often times it could be higher or lower than you think depending on the neighborhood, particularly in Ashland since it's so diverse. Instead of paying for an appraisal ask a real estate broker for their price opinion. Most would be happy to offer this service for no charge.

According to the Southern Oregon Multiple Listing Service which publishes statistics the Ashland market topped out in 2006 for residential sales. The average price was $483,580 with 304 homes sold. In 2014 the average price was $419,446 with 280 homes sold. The bottom for average price was $334,446 in 2011 when 209 homes were sold. What we can say for sure is that we've had three solid years of price growth and increased sales volume since the bottom of the market. So to answer your question we have not seen prices equal their former 2006 highs on average. However, based on comparables for your home in your neighborhood you may be above or below the average. Having a broker provide their opinion of value based on an analysis of homes in the area using listings, pendings, and sold homes would provide a more concrete foundation.

In my opinion, with the continued lower than typical interest rates, the growing economy, and the reduction in distressed properties in our area combined with liquidity in the Pacific Northwest and California markets we should continue to see an upward trend both in terms of volume and pricing.
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0 votes 2 answers Share Flag
Fri Dec 12, 2014
Linda Bonsi answered:
Hello,

My name is Linda Bonsi with Sundance Realty. I don't know if you ever got your questions answered about purchasing a home for your Mother. If not, please feel free to contact me. I would be happy to help in anyway possible.

Regards,
Linda Bonsi
Sundance Realty
Principal Broker
Licensed in the State of Oregon
503-930-6300
mybrokerlinda@aol.com
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Thu Oct 30, 2014
Dan Tabit answered:
Sharon,
From the pictures it appears to be in a park. I searched the address and another site indicates HOA of $596 per month, which would likely be space rent.
I hope this helps.
0 votes 1 answer Share Flag
Mon Oct 6, 2014
Tim Burke answered:
R5 density is generally considered more desirable by buyers. The economic value depends on your house. On the standard 50X100 lot in Portland, you can't actually build 3 houses because there are other restrictions, it least in theory. The city has a bad habit of bending the rules to allow development where it typically would have been more restricted (no park apartments, skinny houses, etc.). There are in theory restrictions on how many dwellings can be developed per acre, and restrictions on set backs that can limit the number of houses you can put on a property beyond the zoning limit.

It also depends on the value of your house. From a developers perspective, what do they have to pay to get the land? Developers are only in it to make money, and it is only valuable for them if the house is not worth a lot relative to the other houses in the area (small, few bedrooms, 1 bath).

R5 really mostly benefits home owners in that R5 is the most restrictive of the residential zonings. If you want to own and live in the home and sell it as a single family dwelling, R5 is more desirable for these buyers. If you want to develop a duplex or multi-housing, or sell your property to someone who wants to do these things, R5 will decrease the value to those sub set of buyers. So it depends on the specifics of your property. Hope that helps.
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