Baker City Real Estate New, Pending, Sold Report for May 25 to May 31, 2009

Sorry we’ve been away so long, but things have gotten busy! Which is a very good thing. We should be posting the reports on a regular basis, every Tuesday, from here on out. We say that knowing that things come up and our clients’ needs come first, so if we miss a couple of days, please understand. The real estate market hasn’t changed very much other the past six months. We are still seeing more new listings coming on the market with very few properties selling. Still a great time to buy, as prices are coming down and interest rates are still very good. We’ll be posting about interest rates and buying opportunities this week, but don’t be surprised to start seeing interest rates going up soon. If you are on the fence about buying, right now may be the time to get off of it and take advantage of a great opportunity.

Click Here to Read the Report: New, Pending, Sold 5 25 to 5 31 09

April 2009 Baker City Real Estate Market Action Report Now Available

The April Market Action Report is now available by clicking the link below. The report outlines the real estate market activity for Baker County for April. This is a great report to see how many homes have sold for the month, what the average and median sales prices, number of listings, etc. You will also be able to compare it to past totals. This report is a must to stay informed on the Baker City real estate market.

Click Here to View the Report: Baker County Market Action Report April 2009

March 2009 Baker City Real Estate Market Action Report Now Available

The March Market Action Report is now available by clicking the link below. The report outlines the real estate market activity for Baker County for March. This is a great report to see how many homes have sold for the month, what the average and median sales prices, number of listings, etc. You will also be able to compare it to past totals. This report is a must to stay informed on the Baker City real estate market.

We are hoping to digest the information and comment on it in a post early next week.

To View the Report, Click Here: market-action-report-march-09

Baker City Real Estate New, Pending, Sold Report for April 6 to April 12, 2009

Very nice week for the Baker City real estate market! Some nice, new listings, four pending sales and four closed sales. We’ll have to see how the coming weeks are going to go before we can really herald a definite market improvement, but we’ll take what we can get. The weather is supposed to be very nice for this weekend and into next week and, hopefully, that means lots of buyers out looking at houses. Tomorrow we will be posting the March Market Action Report. It will be interesting to see how March’s numbers were compared to last year…

Click Here to See the Report: new-pending-sold-4-6-to-4-12-09

Top Economists Say Recovery Has Begun

Here’s a story this week from CNN Money. We hope that the economy is in recovery and the housing market improves, especially in the Baker City real estate market. As we’ve stated before, this may be a generational opportunity for buyers – low interest rates and good prices that will not last long if the economy is in recovery. If you are a seller, just remember that everything is relative. You are getting the deal on your purchase rather than on the sale end. And with interest rates, you come out ahead.

Baker City is still a desirable place to live, and even a small improvement in regional real estate is going to lead to increasing sales and increasing prices. Economic recovery will also see the end of lower interest rates, and projections are showing that we are heading for much higher rates in the coming years. If you are thinking about buying a house, now may be the time to do it.

Here’s the article:

Economic recovery is about making people feel more confident, says Mark Zandi, chief economist of Moody’s Economy.com.

Zandi evidenced increasing home sales and gains in the stock market are some promising signs that the worst is over and people will start spending again.

“We’re starting to see some pent-up demand for goods,” he says.

But Zandi warns that the situation is still fragile. “Confidence is a very fickle thing. It can go from abject pessimism that pervades now to a more balanced view of the world rather quickly.”

Robert Brusca of FAO Economics is predicting strong growth in the last half of the year and a quick recovery for the labor market. “You’ve lost 5 million jobs. It shouldn’t be hard to put 2.5 million jobs back on rather quickly after you hit bottom,” he said.

Joseph Carson, chief economist at AllianceBernstein, calls improving home sales, a rising stock market, and better-than-expected retail sales in February and March good signs of a turnaround. By the time President Obama’s stimulus package takes effect, the economy will be ready, he says.

“The stimulus has a much better chance of working if trends are already turning up than if it needs to halt a decline,” he said.

Source: CNNMoney, Chris Isidore (04/06/2009)

Baker City Real Estate New, Pending, Sold Report for March 30 to April 5, 2009

The past week in the Baker City real estate market held to the pattern that we have seen over the past several weeks. Several new listings, only one new pending sale and no closed sales. Properties are being shown and offers are being written, however, we are not seeing a successful outcome from those offers. Buyers are coming in several thousand dollars below asking price in hopes of getting a deal and sellers are not willing to drop a significant amount. We are eagerly anticipating the next Market Action report to see how prices are holding up. The Baker City real estate market has not seen price declines like other areas of the US or even Oregon. However, we have seen a significant decrease in the number of sales. The answer is somewhere in between what buyers are hoping to get and what sellers are willing to sell for. Sellers who are not motivated to sell their property (meaning a reduction in the listing price) may have a long wait. And with more properties coming on the market daily, the wait could be long. Buyers also need to adjust their mindset. This isn’t Bend or Portland, where there were sometimes 50% drops in prices. With interest rates still incredibly low, stubborn buyers may miss a generational opportunity to buy a fantastic home at a fair price. Keep checking here for the latest information and statistics!

Click Here for the Report: new-pending-sold-report-3-30-to-4-5-09

8 Ways to Spruce Up Your Listing’s Curb Appeal

In today’s Baker City real estate market, anything a seller can do to improve a property’s saleability improves the chances of attracting a buyer. Here’s a quick Seller’s Tip from the Wall Street Journal:

Staging a yard can give a home the all-important, buyer-pleasing curb appeal. Here are some suggestions that are both inexpensive and easy:

• Make it green. Balancing the pH level and feeding the lawn lots of nutrients will give it a lush and healthy look.
• Trim trees and shrubbery. Overgrown branches hide a home’s good looks.
• Mulch everything. Mulch gives flowerbeds visual appeal.
• Edge the beds. Edging makes everything look neat.
• Powerwash the siding, sidewalks, and patios. Power washing gets rid of all the winter grunge.
• Plant annuals. Lots of geraniums, impatients, and petunias brighten up the look.
• Plant a garden. If the Obama’s can do it, so can everyone else.
• Hang a hammock. It suggests life is easy.

Source: The Wall Steet Journal, June Fletcher (04/03/2009)

Baker City Real Estate New, Pending, Sold Report for March 23 to March 29, 2009

The Baker City real estate market remains steadily active for last week. More new listings and four pending sales. Of the two solds that are showing in the report, only one property closed last week. The property on Pocahontas Rd. closed last year, but was not entered into the Multiple Listing Service. Historically, we should be getting increased buying activity through April and May leading into the busiest months for the Baker City real estate market, June through October. Keep checking back for more market information and other helpful information.

Click Here for the Report: new-pending-sold-3-23-to-3-29-09

6 Landscaping Tricks That Wow Buyers

From Realtor® Magazine

In today’s market, sellers have to work harder to persuade buyers that their property is worth the bite.

By Barbara Ballinger | April 2009

Landscape designer Michael Glassman has cooked up a recipe for guaranteed curb appeal. 

1. Add splashes of color. With every changing season, a landscape should provide a new display of colors, textures, and fragrances. “It’s best to use one or two and repeat them,” Glassman says. Example: white iceberg roses that bloom in spring, summer, and fall as a backdrop; in front, a contrasting punch of purple salvia or lavender that will flower at the same time; and as an accent, a crape myrtle tree that provides changing leaf colors in fall and interesting branches come winter. 

2. Size trees and shrubs to scale. These should be planted in the right scale for the house so that they don’t block windows, doors, and other architectural features on the home’s facade. A large two-story house can handle a redwood, Chinese pistache, sycamore, or scarlet oak, but a one-story cottage is better paired with a flowering cherry, crabapple, or eastern redbud. Too many trees cast too much shadow and cause potential buyers to worry about maintenance and costs. 

3. Maintain a perfect lawn. A velvety green lawn demonstrates tender loving care, so be sure sellers’ homes don’t have brown spots. Some rocks, pebbles, boulders, drought-tolerant plants, and ornamental grasses will generate more kudos, especially in drought areas. 

4. Light up the outside. Good illumination allows buyers to see a home at night and adds drama. Sellers should use low-voltage lamps to highlight branches of specimen trees, a front door, walk, and corners of the house. But less is better. The yard shouldn’t resemble an airport runway. 

5. Let them hear the water. The sound of water appeals to buyers, and you shouldn’t just reserve this for your backyard. A small fountain accented with rocks provides a pleasant gurgling sound, blocks street noise, and is affordable. 

6. Use decorative architectural elements. A new mailbox, planted window boxes, and a low fence wrapped in potato vines add cachet, particularly during winter months when fewer plants blossom. Colors should complement the landscape and home. Just don’t overdo it: Too much can seem like kitschy lawn ornaments. 

Source: Michael Glassman, landscape designer, Michael Glassman and Associates, Sacramento, Calif., www.michaelglassman.com 

 Barbara Ballinger is a freelance writer for REALTOR® magazine.

For more Seller and Buyer Tips and Baker City real estate information, visit www.BakerCityHomeSales.com

Baker City Real Estate New, Pending, Sold Report for March 16 to March 22, 2009

More new listings for the past week in the Baker City real estate market. Only one pending sale and no closed sales during the week, which isn’t that unusual for this time of year. Poor weather during most of the week gave way to a nice Friday and Saturday. This is definitely a great time for buyers; a lot of very nice homes on the market at good prices and interest rates that dipped below 5% for a 30-year fixed mortgage. Those that are in the position to buy may be getting the opportunity of a generation. Come back and check the Baker City real estate blog for news updates and more weekly reports.

Click Here for the Report: new-pending-sold-report-3-16-to-3-22-09