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Scott and Kathy Quick, Principal Brokers
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"It's official: The housing crisis that began in 2006 and has recently entered a double dip is now worse than the Great Depression. Prices have fallen some 33 percent since the market began its collapse, greater than the 31 percent fall that began in the late 1920s and culminated in the early 1930s, according to Case-Shiller data."
Closed sales in the Portland Metro Area were down 15% in May 2011 compared to May 2010. Pending sales were up 45.1%, and new listings dropped 4.1%. Comparing April 2011 with May 2011, closed sales increased from 1,611 to 1,742 (8.1%). Pending sales also increased from 2,005 to 2,167 (8.1%). New listings went up from 3,099 to 3,338 (7.7%).
Newly initiated foreclosures increased to 382,000 in the third quarter, a 31.2 percent jump over the previous quarter and a 3.7 percent rise from a year ago. The number of foreclosures in process increased to 1.2 million, a 4.5 percent increase from the second quarter and a 10.1 percent increase from a year ago.
Atlanta, Charlotte, Miami, Portland, Seattle and Tampa hit their lowest levels since home prices started to fall in 2006 and 2007. “The double dip is almost here, as six cities set new lows for the period since the 2006 peaks,” said David M. Blitzer, chairman of the index committee at Standard & Poor’s. "It's very difficult to argue that we won't see a further decline."
The IFC Original short-based comedy series PORTLANDIA, starring Fred Armisen and Carrie Brownstein, premieres on IFC Friday, January 21, 2011 at 10:30 PM. Each episode's character-based shorts draw viewers into "Portlandia," the creators' dreamy and absurd rendering of Portland, Oregon (you HAVE to watch this trailers)...
Comparing November 2010 to November 2009, closed sales fell by 28.7 percent, but pending sales were up 7.4 percent. Comparing the November 2010 with October 2010 closed sales fell 1 percent from 1,292 to 1,279 and pending sales fell 12.6 percent from...
The figures are staggering. Mind-boggling in fact. In a healthy real estate market, 6 months of inventory is considered "normal." But as the housing crisis drags on, the total number of unsold residential housing units has crested past the 23-month mark...
Comparing October 2010 to October 2009, closed sales decreased by 35.7%. Pending sales and new listings also fell by 21.5% and 9.4%, respectively. The number of closed sales and new listings are the lowest they have been in October in a comparison of the past three years. A comparison of October 2010 with September 2010, shows closed sales decreased by 7.7%...
The United States housing market continued its long decline in the third quarter with home values falling for the 17th consecutive quarter, according to Zillow Real Estate Market Reports. With home values 25 percent below their June 2006 peak, the current housing downturn is approaching Great Depression-era declines, when home values fell 25.9 percent in five years...
Portland-area foreclosures soared nearly 17 percent in the third quarter, with notices filed against 7,157 properties or one in every 126 households. The Seattle-Tacoma-Bellevue market led the nation with a whopping 71 percent increase in third quarter foreclosure activity...
I'll leave it to your better judgement to decide who to vote for this election, but as you examine your choices, please make job creation your highest priority. We need to get Oregonians back to work -- stat. Two Oregonian reporters, Richard Read and Mike Rogoway, just posted articles that should move you to action...
This 60 Minutes segment does a good job capturing the depth of the Great Recession and it's impact on the labor market. Coincidentally, Thomas Friedman penned an Op-Ed in the New York Times today about job creation entitled "The Election That Wasn't"...
Comparing September 2010 to September 2009, closed sales decreased by 24%. Pending sales and new listings also fell by 26.5% and 6.1%, respectively. See residential highlights table below. A comparison of September 2010 with the previous month, August 2010, shows closed sales increased by 1.3% (1,399 v. 1,381). However, pending sales dropped by 6.2% (1,584 v. 1,688), and new listings fell by 7.3% (3,549 v. 3,829)...
Suzanne Stevens, web editor at The Portland Business Journal, reports on the more than 12,000 new foreclosures in Oregon (including default notices, scheduled auctions, bank repossessions) in Q3, ranking the state 11th in the nation according to RealtyTrac...
Oregon Attorney General John Kroger announced Wednesday that Oregon will join with other U.S. states to investigate faulty foreclosures. The 50-state probe will be conducted by state attorneys general, and bank and mortgage regulators.
“I am thrilled to add this program to our marketing arsenal,” said Kathy Quick, Principal Broker of Quick & Associates. “This gives our listings unmatched visibility on one of the most visited real estate portals in the world. The program also provides our firm with access to the fastest growing audience of buyers via Zillow’s Mobile App — the #1 downloaded mobile real estate application. The Premier Agent program is a huge advantage for our clients.”
Hilarious... and unfortunately -- spot-on.
| The Daily Show With Jon Stewart | Mon - Thurs 11p / 10c | |||
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The dimensions of the foreclosure crisis keep expanding. Lenders and loan servicers including JPMorgan Chase and Ally Financial are facing an explosion in homeowner lawsuits and state attorney general investigations of claims of falsified mortgage documents. Lawmakers in both houses of Congress have called for investigations...
The U.S. economy lost 95,000 nonfarm jobs in September as local and state governments shed positions at a faster rate than the private sector was adding, the Labor Department reported Friday. The drop of 95,000 was much wider than the 8,000 decline expected by economists surveyed by MarketWatch, and the 57,000 jobs lost in August...
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