Sherwood & Surrounding Area Real Estate with The Gardner Team

This weeks Market Minute:  How the Sherwood real estate market compares to recent month over month trends.  

Analytics provided have been pulled directly from the local Multiple Listing Service (RMLS) the most trusted source, relied upon by the entire real estate industry.

These reports show an original search criteria for Sold, Pending and Active sales: 

Property Category: RESIDNETIAL Area: 151 Zip: 97140/SHERWOOD 

SOLD: 08/01/2008 - 09/01/2008 PENDING: 08/01/2008 - 09/01/2008 STATUS ACT, BMP, PEN, SLD 

Pulled Date: 10/7/2008 / Time 11:11:06 AM

 Now - here is the SAME report for 9/1/2008 to 10/1/2008:

Trends:The median single family home price for SHERWOOD is about $429,250

Conditions:The current Market Housing Index, a barometer for housing supply & demand is 13.05  30+ we call a sellers market / -30 we call a buyers market  Now is the BEST time to buy

Demands: The current average Days On Market (DOM) for SHERWOOD is about 133

Pricing:  There are many variables and factors to measure the accurate going rate for dollar per square foot (PSF), the current overall average is good information, yet not an exact measurement for all local real estate.  Actual pricing is best determined by having a Comparative Market Analysis (CMA) done for your specific home.  For now, here is the overall average dollar (PSF) for SHERWOOD $180.00

Home Sales:  As you can see in the MLS reports above, pending sales in SHERWOOD OREGON are on the rise.  More home buyers are out searching for homes now and contracts have more than doubled month over month

Reflection:  Reflecting on our personal experiences as local Sherwood REALTORS, we noticed a rise in overall real estate activity ourselves.  As an example, one of the homes under our represention had a dozen viewings in just a single day in September - and it was not an open house.  Now, that property is under contract and pending like many of our other clients homes.  In perspective, it is a buyers market and buying confidence is building.  Interest rates are in the 5's and lower than this same time last year. 

With all the conflicting messages in the media recently, you may be wondering if now is a good time to buy a home in a higher price range.  As a matter of fact, there is an advantage for move up buyers in today's market; the process is called "price jumping".

On the pro side: Historically low interest rates, great selection of homes, lower prices.

The cons: It's a challenging market for those who must sell their current home before buying.

The real question you must ask yourself when considering "price jumping" is what your return on investment will be. In other words, will you be better off in five years, ten or twenty, if you step up into a higher price range today? 

The recent announcement by the U.S. Treasury Department regarding the take over of Fannie Mae and Freddie Mac marks a significant turning point in the mortgage credit crisis and housing market recovery. Since this announcement was made, interest rates have dropped sharply. Lower interest rates open up additional loan options and increases affordability for home-buyers, adding to the opportunity that currently exists to price jump into a higher priced home.  But buying a home isn't just about interest rates and affordability. Though it's true that you could save money now and that your investment could earn you significantly more money later, the real benefit is the home itself and the reality of achieving the American Dream.

If you have a home on the market or are thinking of putting your home on the market, there is a lot of choices and buyers are making decisions so make sure you have professional representation and you're positioned to sell - the market is moving. 

Brought to you by The Gardner Team - Defining Excellence & Delivering Results to Sherwood Oregon and the Surrounding Areas - Visit with us at www.TheGardnerTeam.net or www.SherwoodRealEstateTeam.com

Licensed Oregon REALTORS, MDC and ranked "#1 in Sales & Marketing" for John L. Scott RE/Sherwood

We're ready to earn your business and look forward to your call (971) 832-1234 jasongardner@johnlscott.com