John DeCosta's Blog

Midwest Farm Prices Double, See the Video

John DeCosta — Thu, 15 Dec 2011 19:01:51 +0000

http://online.wsj.com/video/real-estate-prices-are-booming-down-on-the-farm/C50426CA-729B-43E7-A36B-79F32D7A07DE.html

Interesting information on Farm Values. Real Estate is a very local phenomenon. Values are increasing in some markets and declining in others.

Get the most up to date information before making real estate decisions. John DeCosta, Keller Williams Realty

Case Shiller, the national look at real estate.

John DeCosta — Thu, 15 Dec 2011 15:45:14 +0000

RATES LOW, PRICES LOW, BUYER'S INTEREST LOW ?

Case Shiller Video Update

John DeCosta — Thu, 15 Dec 2011 15:33:32 +0000

Bumping along the Bottom on Prices.

http://video.cnbc.com/gallery/?video=3000059636 click to view the newest info from Case Shiller

This is the most recent update from Case Shiller. The market is now where prices were 10 years ago. Interest Rates have never been this low.

Very interesting time. Opportunities are everywhere. Smart money is on the move. Rents are up.

John DeCosta — Wed, 26 Oct 2011 12:45:09 +0000

http://bottomline.msnbc.msn.com/_news/2011/10/25/8479021-home-prices-up-in-half-of-major-us-cities

We are always looking for the most important information involving the real estate market. We have few sources better than Case Shiller. See the latest from them regarding our market. Basically Flat is the diagnosis. John DeCosta, Keller Williams, Portland Premiere

Home prices up in half of major US cities

By Associated Press

WASHINGTON — Home prices rose in August in half of major U.S. cities measured by a private survey, a sign that prices are stabilizing in some hard-hit portions of the country.

The Standard & Poor’s/Case-Shiller index showed Tuesday that prices increased in August from July in 10 of the 20 cities tracked. That marked the fifth straight month that at least half of the cities in the survey showed monthly gains.

The biggest price increases were in Washington, Chicago and Detroit. The greatest declines were in Atlanta and Los Angeles.

The August data provides a “modest glimmer of hope” that some areas may have bottomed out and could be turning around, said David M. Blitzer, chairman of S&P’s index committee. He noted that cities in the Midwest — Chicago, Detroit and Minneapolis — have shown some strength since May.

Still, Robert Shiller, the co-founder of the index and a Yale economics professor, said in an interview on CNBC that overall home prices were “flat” and a recovery in the struggling housing market was not on the horizon.

Over the past 12 months, prices have fallen in all but two cities. Detroit and Washington were the only two cities to show year-over-year gains.

The index, which covers half of all U.S. homes, measures prices compared with those in January 2000 and creates a three-month moving average. The August data are the latest available.

“We certainly believe the bulk of the decline in housing is behind us and indeed, one might even say that ‘housing’ is more likely to improve from here,” said Dan Greenhaus, chief global strategist for BTIG. “But given the overwhelming level of inventory that remains on the market … further price declines seem almost assured to help clear the market.”

Prices are certain to fall again once banks resume millions of foreclosures that have been delayed because of a yearlong government investigation into mortgage lending practices.

Those homes at risk of foreclosure promise “to keep pressure on prices for some time,” said Joshua Shapiro, chief U.S. economist at MFR Inc.

Home prices have stabilized in coastal cities over the past six months, helped by a rush of spring buyers and investors. But this year, home prices in many cities, including Cleveland, Detroit, Las Vegas, Phoenix and Tampa, have reached their lowest points since the housing bust more than four years ago.

Many people are reluctant to purchase a home more than two years after the recession officially ended. Even the lowest mortgage rates in history haven’t been enough to lift sales.

Some can’t qualify for loans or meet higher down payment requirements. Many with good credit and stable jobs are holding off because they fear that home prices will keep falling.

Sales of previously occupied home sales are on pace to match last year’s dismal figures — the worst in 13 years. Sales of new homes fell to a six-month low in August and this year could be the worst since the government began keeping records a half century ago.

Foreclosures and short sales — when a lender accepts less for a home than what is owed on a mortgage — makes up about 30 percent of all home sales last month, up from about 10 percent in past years. The large number of unsold homes and foreclosures are sending prices lower and hurting sales.

Keller Williams Lists Dennis Quaid’s Ranch

John DeCosta — Tue, 18 Oct 2011 13:31:41 +0000

No More Home on the Range: Dennis Quaid Cutting Loose His Montana Ranch

October 17, 2011 ·

If your travels take you to Montana, take in a new listing near Bozeman.

Drop us a line if you would like us to make any appointment for you,

John and Priscilla DeCosta, Keller Williams Realty, john@johndecosta.com

Dennis Quaid wants to be footloose and fancy free of his spread near Yellowstone National Park, listing the 20-acre ranch for $1,495,000.

Quaid has owned the Montana property since 1982, when he purchased it from director Sam Peckinpah and actor Warren Oates, who owned the property together, according to The Wall Street Journal.

The ranch is in Pray, just a few miles southeast of Bozeman, and not far from inviting pool at Chico Hot Springs.

From “Great Balls of Fire!” to “The Big Easy” and “The Parent Trap,” Quaid has had his share of big-screen hits. His latest role is as Reverend Shaw Moore in the newly released remake of “Footloose.” But Hollywood is not where Quaid wants to hang out, either.

He’s also looking to sell his home in the Pacific Palisades real estate market, which is currently listed for $10 million. The L.A. estate has had its price slashed from its original list price of $16.9 million. California and Montana are off the map for Quaid, who’s currently living in Texas but has decided to look even further west — to Hawaii — to enjoy “the new love of my life, which is surfing.”

That’s fitting, since Quaid starred in the 2011 release “Soul Surfer,” a movie about a teenage surfer who summons the courage to get back on the board after losing her arm in a shark attack.

Quaid’s Montana property includes two houses and a guest cabin for a total of 6 bedrooms, 4 baths. Located in Paradise Valley, the house is situated near Six Mile Creek and has access to a trout-stocked pond. One of the dwellings has provided a nice flow of income due to its use as a vacation rental.

To seal a deal, Quaid has included an unusual closing gift: A spa package for two at the local hot springs.

The listing is held by agent Jacqueline Jance of Keller Williams Realty.

–

According to data on Zillow Mortgage Marketplace, with a 20 percent down payment and 30-year-mortgage, the monthly payment for Quaid’s Montana ranch would be $7,003.

Great Website for Oregon Wine and Food

John DeCosta — Tue, 18 Oct 2011 08:50:22 +0000

http://food.traveloregon.com/places/wineries/

As the leaves start to turn, enjoy a last visit to the Wine Country !

One of the many great reasons for living in Oregon is the great food and wine. This site makes it easy to find a weekend getaway for you and your family to enjoy! Salud, John and Priscilla DeCosta, Keller Williams Realtors

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Make a Stand for a Good Cause iSalud! Benefit Auction November 11th and 12th, 2011
Via Wine Bytes on October 14, 2011
Harvest Happenings and Beyond
Via Wine Bytes on September 27, 2011
Grant’s Getaways: Wine + Outdoor Adventure
Via Travel Oregon: Wine on September 23, 2011
Peter Lehmann of the Barossa Wines, Red Slate PDX and BBQ
Via Wine Bytes on September 4, 2011
Sonoma’s Jordan Vineyard and Winery Still Producing Winners
Via Wine Bytes on August 31, 2011
View all Wineries News

Building Permits Year to Date 2011, Portland, Vancouver, Salem Area

John DeCosta — Fri, 14 Oct 2011 12:26:51 +0000

We recommend anyone who relies on the new home construction industry stay in touch and informed. The best tool for tracking permits in our market area is Construction Monitor . It is a paid service, but eminently well worth it. Take a look at the top builders, ranked by permits issued y-t-date this year so far.

It is significant to note that not all builders are below their former building levels. Some of the builders have adapted to the new environment, and are as busy as they have ever been. The average builder has pared back, and some are not currently building at all. Enjoy the info, wishing you success, John DeCosta, Keller Williams Portland Premiere

New Information from the Oregon Tax News Service

John DeCosta — Wed, 12 Oct 2011 16:17:00 +0000

Housing Market Splits: Big homes sell, others lag

We are always on the search for news about the current state of the Oregon Real Estate Market. This story reflects our experience, so we want to pass it along, for your review. The well financed upper end buyers are aggressively seeking the best homes in the market. There is no worry about interest rates or reason to hesitate. The supply of wonderful homes at very affordable prices is just too tempting.

We wish you great real estate buys, Cheers, John DeCosta, Keller Williams

October 10, 2011

Housing Market Splits: Big homes sell, smaller ones lag
By Oregon Tax News

About six million homes need to be sold every year in this country to maintain its housing market. But at current sales rates, fewer than 4.75 million will sell this year.

But that’s only among normal home buyers. Among the 1.5% of Americans that are buying luxury homes worth more than a million dollars, home prices are up 0.7% according to Zillow. The housing market has split into two sectors. Among higher value homes, business is booming. For the rest of the country, prices are still falling and not expected to normalize until 2013. Prices are expected to fall at least five percent more between now and the end of the year.

Nearly twenty-five percent of American homeowners owe more on their house than it’s worth. Plus, huge numbers of foreclosures have made it very difficult to get a loan—despite record low interest rates. Nearly half of current homeowners would be unable to get a loan today, according to economist Paul Dales of Capital Economics. Due to these foreclosures, new homes cost 28% more on average than used ones. Under normal circumstances, a new house is only about 14% more expensive.

The luxury market is fueled by international business. Foreigners purchased $82 billion worth of American real estate last year, whereas in 2009 only $66 billion in real estate was sold to foreign clients. Many of these rich clients are able to bid in cash. The twists of the stock market are a topic of conversation for them—not a topic of worry.

First-time homebuyers are getting rarer. Only 32% of July home sales were made to first-time home buyers. Usually, nearly 50% of sales are to first-timers. First-time buyers are important because by purchasing smaller, cheaper homes, they allow sellers to purchase more expensive, larger ones.

Usually, the luxury market and the non-luxury market move together. Some economists find the split between the two troubling.

Thank you for visiting our blog, Regards, John DeCosta

Lake Oswego Update, Read all about it !

John DeCosta — Tue, 11 Oct 2011 21:40:25 +0000

What a great place we call home, John and Priscilla DeCosta, Keller Williams Portland Premiere www.johndecosta.com

Welcome to Lake Oswego

Hello! Say hello to quality of life. With outstanding schools, vibrant arts and culture, terrific restaurants, distinctive retail, beautiful neighborhoods and excellent business environment, Lake Oswego is a great place to visit or put down roots. Also, there’s seldom a day when there isn’t some kind of activity, class, or event scheduled for just about anyone.

Fall Fashion has Arrived!

Step into fall in Lake Oswego with Soletta-A Shoe Boutique and hundreds of businesses

Click here for business directory and directions

More
Farmers’ Market Final Two Weekends

Find local fall harvest at the Lake Oswego Farmers’ Market.

Through October 8, 2011
8:30am – 1:30pm

200 First Street
Lake Oswego, OR 97035

For Information:
click here
Or call: Maddie Ovenell 503.697.6590

Click here for business directory and directions

More
Lake Grove Village Center

Tapping the power of the region, Lake Grove is realizing its bright future including a $6 million renovation of Lake Grove Shopping Center currently underway and is scheduled to be completed in time for the 2011 holiday season. Stay tuned for exciting details! Follow the link below to learn about business in Lake Oswego, including a directory.

Click here for business directory and directions

Values and Foreclosures impact on the Markets around the USA

John DeCosta — Tue, 11 Oct 2011 21:37:07 +0000

In answer to a recent client question, we are posting this snapshot of the effect that foreclosures have on a real estate market. Remember all real estate values are local. Real Estate Markets come roaring back with the addition of jobs, jobs, jobs……. John DeCosta, Keller Williams

Zillow Home Value Index

Largest 25 metros	Zillow Home Value Index			Foreclosures
	Aug-11	Y-o-Y Chg.	Chg. from peak	Homes foreclosed (for every 10k homes)	Foreclosure resales
U.S.	$172,600	-4.5%	-28.3%	9.2	19.5%
New York	$350,700	-2.90%	-23.30%	0.4	2.5%
Los Angeles	$389,900	-6.10%	-35.60%	12.9	25.4%
Chicago	$172,800	-9.10%	-36.30%	–	–
Dallas	$128,000	-2.80%	-11.40%	8.8	18.6%
Philadelphia	$194,300	-4.20%	-17.70%	3.2	7.2%
Miami-Fort Lauderdale, Fla.	$139,900	-3.30%	-54.50%	–	–
Washington, D.C.	$315,400	-1.60%	-28.10%	5.7	14.1%
Atlanta	$121,700	-10%	-33.30%	–	–
Detroit	$75,000	-6.50%	-52.80%	–	–
Boston	$316,200	-3%	-20.60%	–	–
San Francisco	$474,700	-7.10%	-32.80%	13	25.5%
Phoenix	$123,100	-8%	-56.40%	32.3	44.2%
Riverside, Calif.	$184,300	-4.40%	-54.20%	25.9	46.1%
Seattle	$259,800	-6.30%	-31.90%	13.6	22.2%
Minneapolis-St. Paul, Minn.	$159,600	-10.70%	-35.40%	11.9	19.6%
San Diego	$347,300	-5.80%	-35.30%	12.6	27.2%
St. Louis	$130,700	-7.30%	-16.90%	–	–
Tampa, Fla.	$106,400	-9.00%	-51%	–	–
Baltimore	$224,000	-3.90%	-25.60%	3.2	12%
Denver	$198,000	-4.20%	-14.70%	11.4	23.9%
Pittsburgh	$110,500	2.80%	-0.80%	3.8	8.9%
Portland, Ore.	$211,400	-4.60%	-27.90%	7.9	16.5%
Cleveland	$112,300	-4.90%	-22.10%	7	19.7%
Sacramento, Calif.	$202,400	-11.30%	-51.30%	22.7	40.8%
Orlando, Fla.	$117,400	-5.10%	-54.50%	–	–
*Negative equity refers to the % of single-family homes with mortgages.