Summer is now 1/3 over. Sorry, had to get that on the table.
As usual, literally like clockwork, we have had a flood of listings in late June. There are some really nice properties on the market right now, especially if you are over 500k. Prices don’t seem to be creeping, but look for that to end with the next week of closings on their way. They will begin to clear away the detrius of a few, very “impactful flushings” of property from last year, and re-establish the upper end PSF values. There are a couple of homes out there that I can tell you right now will be strong “BUY” properties after July 1st.
Which doesnt mean that the new swarm of listings is going to sell, mind you, it just means the market to underwrite them won’t be so psychotic.
The large ship that is extra lot inventory has not arrived yet, but will be docking, sometime in 2014. Mid to low-range prices are still expected to moderate but for now, those prices are stiff and stiffening. Hot neighborhoods (Heights, east of 12th especially) are very sought after.
Summer is indeed in full swing. There’s a completely new batch of folks who are arriving, and now the “I want to raise my family here” ratio stands at about 40%. The balance is retiring or “I want to be near my grand kids” and the intra-market “I want to move up, my kids are driving me crazy” and then of course the “I want to have a second home and rent the hell out of it when I’m not there.”
I’ll save those ratios from public view. – ya know, proprietary n’ stuff.
Good market, good year. Still cannot see how our economy is continuing to move forward on a national level, but as an economist friend told met last week, “You start with one quarter, then to get to two, then you get to eight, nine ten, and soon, the recovery just takes hold as part of your thinking.
Three or four more quarters and it can be self-sustaining and we’ll be ok.”
That’s probably the case for the Hood River market and housing.
July is fixin’ to be windy. If you cannot raise me by cellphone this coming month, please note that the wind clause is in effect for the month of July. Plus, looking at houses when it’s windy is lame anyway.
I am reminded today of all the great folks who read this, and the majority of you who have done business with me. Lest I forget when I see you on the street, I want to thank you for your support of me over these years. I continue to receive referrals from you, and you have introduced me to some of the most interesting people I’ve ever met… and trust me, I’ve met a few.
That’s my gushy moment for the mid year. Ok everyone, move along, move along, there’s 4th of July to be celebrating.
See you on the water.
~ Maui Meyer