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The Rob Levy Team
Prudential Northwest Properties
(503) 906-1444
Fax: (503) 520-2203
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Presented by: The Rob Levy Team

Portland Oregon Real Estate June 2008 Update

For the 12 months ending in May, 2008 vs. the previous 12 months, the average price in the Portland Metropolitan area depreciated 4.0% according to RMLS.  The average price fell from $343,500 to $331,500 and the median price fell from $288,500 to $279,900 for a decrease of 3.2% for the same 12 month period.  At the end of May there were 17,066 active listings listed in the MLS representing a 9.2 month supply of homes.

However, it should be noted that priced increased from the previous month this year.  In fact the average price rose 3.1% from $325,000 to $335,000.

The chart below shows the Average Sales Price for the Portland Metro area as compared to last year.
 

Downpayment Assistance Available!

I was chatting recently online with a group of Realtors I belong to called the CyberStars and we were discussing a much overlooked down payment assistance program I have been using in our market in Portland, Oregon.

This progam is called the Nehemiah Charitable Model and uses funds from charitable sources for downpayment assistance for persons who qualify.  The program can be found at http://www.getdownpayment.com/ and there is a tutorial there as to how it works.

Nehemiah is an FHA product in that all loans must comply with FHA/HUD rules, but there are many great points such as.....

  • Gift funds up to 6% of the final contract sales towards your downpayment and/or closing costs
  • Gift funds for both first time and repeat homebuyers
    (Nehemiah charges a nominal processing fee that may be paid by the seller, homebuyer, or lender.)
  • Gift funds for both new construction and resale homes
  • No repayment of gift money
  • No income or asset limits
  • No geographical restrictions

Shawn Headlee with Columbia Mortgage is very familiar with these loans as we have done several, so if you think you can use this program to purchase a house in our current market, which is a great time to buy, then give us a call.

  

Buy a Costo Patio Set? Then use my FREE Truck!

For 2 1/2 years now our free moving truck has been a HUGE hit with far more interest than I ever imagined.  More and more of our clients are using the truck in their HOA (home owners association) events, or moving chairs for a school PTA event or even for church raffles.  Did you know we make it available FREE for these purposes?  If you have a charitable non-profit event coming up and need to move stuff, or give use of the truck away in a raffle, contact us today and book the truck out.  Its all a part of supporting the community that has been so good to us.

Please don't forget it's also yours to use when you need to pick up that new antique chest of drawers you found at the neighborhood estate sale, or the refrigerator at Costco. It's a 15' long truck with a 2' attic and comes complete with loading ramp, dolly and even some furniture pads.

Call us to schedule the truck, it is of course always subject to prior reservation, and please note you must be 21 years old with a valid license and insurance, and the truck cannot go more than 50 miles from Portland.  Other terms and conditions apply to satisfy my insurance agent, but please it's there to be used!  ROB

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All statistics in the 1st section courtesy RMLS. Thanks for reading my newsletter, and please feel free to forward this email in it's entirety to anyone you feel would benefit from it. To UNSUBSCRIBE scroll to bottom and use the link. You will be removed automatically and immediately. Please also ignore this newsletter if your home is listed with another broker. It's not our intent to solicit other brokers listings.

For Sale: $399999
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Prudential Northwest Properties, 9600 SW Barnes Rd., Suite 100, Portland, OR, 97225
(503) 906-1444, http://www.RobLevy.com
 
Prudential Northwest Properties
9600 SW Barnes Rd., Suite 100
Portland, OR 97225
Last modified 7/5/2008