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10 Reasons Why Aurora, Oregon Homeselling is HOT!

9 Jan Aurora Oregon

Oregon Real Estate Podcast, Winter HomesellingWhile there is a case to be made for homeselling in each of the four seasons, Winter is one of the most powerful times that Aurora, Oregon sellers can place their home on the market and for ten very good reasons.

Click here or the play button below for the audio podcast presentation of this article.

  1. Price & Market Time. Statistics show homes sell faster and for more money in Winter. One way to understand this phenomenon is by considering a motorist with a flat tire in bad weather. That motorist has an urgent need and is less likely to haggle, or even seriously consider less expensive options, in order to meet an immediate need. Our local Winter homebuyers around Aurora, Oregon can experience the same kind of urgency and this helps to explain the premium that homes can command during the real estate ‘off season.’ Another way to look at the Winter market dynamic is if you want to buy snowshoes in July (at least around Aurora), expect to pay more, since availability is typically lower. Oregon Real Estate Podcast
  2. High Quality Buyers. Because home touring is generally less convenient, there tend to be fewer ‘Looky-Loos’ during the Winter. This means Aurora, Oregon homesellers have fewer buyers tracking dirt into their house, in Winter, with less energy spent preparing for real estate ‘Tire-Kickers.’Oregon Real Estate Podcast
  3. Less Seller Competition. Let’s face facts: It’s convenient to sell in the Spring and Summer, especially locally around Aurora. The weather is usually better, flowers are blooming and with plenty of homebuyers looking, it’s a ‘target-rich environment.’  Yet while it’s easier and more convenient to sell in sunny weather, this convenience often comes at the cost of increased competition from other sellers. Conversely, Aurora’s Winter homesellers can expect fewer like-minded sellers competing for buyers. Just like the successful contrarian investor who sells when everyone else is not, avoiding a ‘herd mentality’ can pay off with a higher price and faster sale. Oregon Real Estate Podcast
  4. Higher Buyer Motivation. Is your idea of a fun time getting into a car on cold drizzly nights to look at houses? Probably not…unless you just got a job transfer. Or a nice raise. Or you received an inheritance and want to get out of your tiny apartment. It’s helpful for Aurora’s prospective Winter homesellers to know that corporate relocations are common in the first quarter.  Plus family changes can occur anytime and estates are settled year around.
    Oregon Real Estate Podcast
  5. The Hunt for Red January: Get a ‘Jump’ on the New Year’ s Competition. The best time to get your Aurora property on the market could be when everyone else isn’t. Placing your home for sale in Winter gives you access to hyper-motivated buyers who have made homebuying a New Year’s resolution. That way, when these eager homebuyers begin their ‘hunt,’ your house will be a prime ‘target’ as visible as Rudolph’s nose. So if your home is market-ready and available to tour leading up to the New Year, expect to tap into this highly focused ‘pent up demand.’
    Oregon Real Estate Podcast
  6. Your Aurora Home Looks Inviting During the Holidays. Who doesn’t enjoy the happy glow of a Christmas tree or other holiday decorations, along with the pleasant smell of fresh-baked pumpkin pie, cinnamon buns, or a vanilla candle? Homes often look their most inviting during the holidays.
    Oregon Real Estate Podcast
    And given the pleasant, even emotional attachment so many have during that time of year, expect some homebuyers to fully embrace the holiday theme of ‘Peace on earth, good will toward men.’ As a result, such positive feelings can spill over into the home selling process and make it easier.
    Oregon Real Estate Podcast
  7. Your Lawn & Landscaping is Virtually a Non-Issue. Forget to mow your lawn? No worries. Some Aurora buyers won’t care if they tour your property and it’s covered in snow, raining hard, or after sundown. Buyer landscaping expectations can be quite reasonable during Winter months around Aurora.Oregon Real Estate Podcast
  8. When Your Home Sells, You May Buy With Less Competition. Few Aurora homesellers stop to consider that given good timing with their sale, their own future home purchase may also benefit from similar, unique seasonality. So depending on a variety of factors in the market where and when you buy, Aurora homesellers can sometimes take advantage of lower Winter activity levels to successfully negotiate with a motivated seller. This is because some sellers place their home on the market during Winter not for convenience, or desire to maximize their selling price, but from genuine need. In other words, they are highly motivated. Such homesellers could therefore provide a good buying opportunity.
    Oregon Real Estate Podcast
  9.  Fewer people relocate in Winter, so this means you’re likely to have an easier time booking a mover.
    Competition for moving companies can be challenging during the real estate ‘high season.’ As a result, expect less difficulty scheduling your moving company when you sell in Winter.
    Oregon Real Estate Podcast
  10.  You Can Dictate Which Days & Times Are Available for Showings. As an Aurora, Oregon homeseller, you typically have control over tour times and dates for your home. This includes during Winter months. Given holiday-related gatherings and events, buyers are likely to understand their need to schedule their tour of your home. Your Realtor can help by specifying days and times your home is available for showings. For example, you could have your house available for tours on Saturdays from 2 to 5pm, weekday mornings after 9:00am, or between 5 and 8pm weekday evenings.

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Thinking about selling your Aurora, Oregon house this Winter? Call our AuroraOregon.com sponsor, Certified Realty at 800-637-1950 for a FREE consultation!

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Aurora, Oregon Goes to Pot?

5 Dec

Information surrounding a recent real estate sale suggests one Aurora, Oregon property might someday be developed into a commercial marijuana growing operation.

Marion County tax records indicate a 96 acre property located at 24075 Klupenger Road NE sold on September 21, 2015 for $3,290,000. The purchaser of record for the longtime nursery property was Greenpoint Real Estate, LLC.

Klupenger-page-001                    Approximate Property Location In Red

On portions of page 12 in an online listing statement excerpted below, the property, located in northern Marion County near the Clackamas County line, is cited as a possible site for a large-scale marijuana operation:

“…On April 1, 2015 GPO entered into a 15 year sub-lease near Aurora, Oregon for a 96 acre property to build out GLH’s cultivation and grow activities (the “Aurora Property”). This sublease was terminated on June 30, 2015, however, an option to purchase the property was acquired by GLH in consideration for 200,000 warrants exercisable at US $1.00 for a period for three years and 200,000 warrants exercisable at US$5.00 for a period of three years. The option to acquire the property was assigned to GLH’s wholly owned subsidiary, Greenpoint Real Estate, LLC and was exercised on September 28, 2015. The Aurora Property was acquired for a purchase price of US $3.3 million and was financed by (a) US $100,000 in cash from GLH; (b) US $1.5 million secured 9% promissory note, maturing on September 14, 2017; (b) US $1.7 million in 12% convertible debentures, convertible at US $1.00 and maturing on September 17, 2017…”

“…GLH plans on moving its head office to the Aurora Property and all processing facilities and cultivation will ultimately migrate to the new site. A project is under development to refurbish and expand the existing greenhouse facilities on this site. In the initial phase, 29,000 square feet will be developed for breeding, 18,000 square feet will be developed for cloning and 29,000 square feet has been developed for commercial production. In December 2015, it is anticipated that a further 108,000 square feet will be developed for commercial production subject to regulatory administrative approval…”

Venerable Aurora Property Sells

3 Dec

County records confirm a property sale earlier this year of venerable and valuable Aurora, Oregon acreage. Formerly owned by local charity Beyond the Reef Theological Center, the property is located just east of the Aurora State Airport at 22515 Airport Road NE, Aurora, Oregon.

IMG_2701

A public records search indicates the sale involved two adjacent lots of 11.42 acres and 5.12 acres, closing in May, 2015. The selling price was $2,150,000 with the purchaser named as TLM Holdings, LLC. Ted Millar is named as a manager. Public records also indicate Ted Millar is involved with locally owned Southend Air Park and Westwood Development.

Beyond The Reef, Aurora Oregon, Aurora State Airport

Approximate Property Location in Red

State corporation documents show the earliest registry date for the organization named Beyond the Reef Theological Center as February, 1977. Since that date, their Aurora location was used as a meeting place for the faith-based organization, which included housing and a worship center, Missionary Memorial Church.

Online information about Beyond the Reef Theological Center underscores their calling as a non-profit organization based in Aurora, Oregon, with a mission for ministry to Micronesians who live in the Pacific Northwest and on Pacific islands half a world away.

No readily available future plans for the property appear to have yet been publicly disclosed.  

A Tale of Two Auroras

14 Aug

New housing figures on our local real estate market were recently released. These stats include both hyper-local and also more regional numbers on things like area home prices, market time and inventory. This first report is from Ticor Title.

Aurora Oregon, 97002, Oregon Aurora, Aurora OR

Click to Enlarge

A ‘Mixed Bag’
Certain Aurora, Oregon housing figures are mixed, depending on where you live around Aurora. This is because part of the 97002 zip code is located in Marion County and the other part is Clackamas County. This is also essentially where the Portland and Salem markets meet. Depending on where an Aurora home is located can affect school districts and commute times. The good news is that Aurora, Oregon home prices are up, no matter which metric is used. 

Housing Inventory
Housing inventory can help determine how fast and how high a real estate market climbs. With fewer homes for sale, prices typically rise. With just 1.7 months of home inventory, the Clackamas County inventory figures for Aurora suggest a continued distinctly ‘seller’s market’ in that area of Aurora.

Aurora Oregon, 97002, Oregon Aurora, Aurora OR

Portland Metro Home Inventory – In Months

With 4.8 months of home inventory, the Marion County portion of Aurora remains within the normal range for a ‘balanced market,’ distinctly favoring neither buyers or sellers.

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Salem Metro Home Inventory – In Months

Click here for the latest housing information from the greater Portland metro report, which includes Clackamas County portions of Aurora. Click here for the latest housing information from the Salem metro report, which includes Marion County portions of Aurora.

Attention Aurora, Oregon Home Sellers
Thinking of selling? Prices are up and the market is good. For a free report on your property’s current value, contact the Aurora, Oregon experts and our sponsor, Certified Realty, using the convenient form below.

Aurora, Oregon Home Sales

17 Jul

Multiple listing records confirm five Aurora, Oregon home sales have occurred over the past thirty days.

Aurora Oregon, 97002, Oregon Aurora, Aurora OR
Recent Aurora, Oregon Property Sales – Click Map to Enlarge

Sold prices for these five properties range between $150,500 and $1,500,00. 

Thinking about selling your Aurora, Oregon property? Contact our sponsor, the Aurora specialists at Certified Realty, using the convenient contact form below for a FREE report on what your property could sell for in today’s market! 

Aurora, Oregon Real Estate: What To Expect In 2015

3 Jan

Feature Article by Realtor Roy Widing

Predictions on Aurora’s real estate market are difficult to make with great accuracy. Take, for example, local weather forecasts. Even when armed with advanced technology like detailed satellite images, plus wind, barometric and temperature data, weather forecasters can get it wrong…and that’s for predictions merely a week or two away! 

Aurora Oregon, Aurora Oregon Real Estate, Aurora Oregon Homes, Aurora Oregon Properties, Aurora Oregon Realty, Aurora Oregon Property, 97002

Accurately Predicting Weather & Real Estate Trends Can Be Difficult

Predicting Aurora’s Real Estate Trends
Now imagine the difficulty in predicting local real estate market activity a full year into the future. Along with seasonal influences, other challenges in real estate forecasting include changing mortgage interest and employment rates, ever-shifting home inventory levels, plus a myriad of lending regulations and the mysteries of the Federal Reserve’s monetary policy, just to name a few. Little wonder, then that some view real estate predictions as akin to flipping a coin or using a dart board.

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Although Fun, Darts Are A Poor Choice For Accurate Real Estate Forecasting

Real Estate Forecasting: What Can Work
While not foolproof, one generally helpful tool for predicting future real estate trends can be past real estate trends. Major unpredictable shifts occasionally occur, but the key word here is occasionally.

For example, the Great Recession that hit Aurora and the rest of the country starting around 2007-2008 was our nation’s worst economic downturn since 1929.  Thankfully we haven’t seen such financial meltdowns every year, or every decade, or even every half century. So aside from similar cataclysmic shifts, a certain degree of real estate predictability is possible.

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Regional Home Price Chart Including Clackamas County

Four Key Reasons For Aurora, Oregon Real Estate Optimism In 2015
Several factors are coming together to provide for an optimistic New Year in our area. As you’ll see, some factors are under federal control and others occur locally, but each has an impact on Aurora real estate. So if you’ve held off selling your Aurora area home, here are four of them that portend a good 2015:

1. Credit Scores Loosen
Most homebuyers need a home loan, generally known as a mortgage. The good news is that mortgage credit is becoming more available as lenders loosen credit requirements.

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Credit (FICO) Requirements Have Loosened

2. Lower Down Payments
Government-sponsored loans from Fannie Mae and Freddie Mac recently brought out a 3% mortgage option. If conventional lenders also start offering similar low-down payment choices, this could bring more first time homebuyers into the market. This vital Oregon homebuyer group has long been under-represented, with their levels at the lowest since 1987.

3. Consumer Optimism
Recent figures from the National Association of Realtors confirm homebuyers are now more optimistic. This includes Oregon. When it comes to single family homes, the ‘Confidence Index’ chart below shows most states now have a majority level of optimism in their region.

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Orange & Red = Strong Single Family Home Consumer Confidence

4. Home Inventory Remains Low
Thanks in part to the reduced level of local new construction, home inventory in our region is still near historic lows. Our most recent survey shows we have 3.2 months of housing backlog. This suggests we have more buyers than sellers. As a result, Aurora homesellers can take advantage of what remains largely a ‘seller’s market’ heading into 2015.

Aurora Oregon, Aurora Oregon Real Estate, Aurora Oregon Homes, Aurora Oregon Properties, Aurora Oregon Realty, Aurora Oregon Property, 97002

Regional Home Inventory Remains Low

Ride The Tide
Our regional real estate market has changed. Experts predict home price growth to continue at a steady, albeit slower pace through 2015. If you’ve held off selling your Aurora home because you were ‘under water,’ or concerned about the market being too low, now is a good time to consider re-evaluating.

Aurora Oregon, Aurora Oregon Real Estate, Aurora Oregon Homes, Aurora Oregon Properties, Aurora Oregon Realty, Aurora Oregon Property, 97002

Many Aurora Homeowners Are No Longer ‘Under Water’

Aurora Home Price Forecasting Complications
Price forecasting for Aurora is complicated by the fact that part of Aurora is located in Marion County, which according to the Regional Multiple Listing Service (RMLS) experienced a 15.8% home price increase for 2014, year-to-date. The rest of Aurora is located in a portion of Clackamas County where RMLS reports a 6.5% home price increase over the same time period.

The Bottom Line
For Aurora properties located in Clackamas County, expect home prices to rise approximately 3% to 5% in 2015. For Aurora properties inside Marion County, expect 2015 home price appreciation of between 6% to 8%.