Price Reduction & New Video | 3572 Pacific in Cannon Beach
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Cannon Beach Sandcastle Contest Set for June 18, 2011
Cannon Beach Sandcastle Contest- Photo by George Vetter
The 47th Annual Cannon Beach Sandcastle Contest is schedule for June 18th, 2011. The event usually draws crowds of several thousand from all over the Northwest and this year shouldn’t be any different. Teams compete for prizes and bragging rights each year, classes range from youth to master sandcastle creators.
The event began 47 years ago following the Good Friday earth quake that brought a tsunami to the coast including Cannon Beach. Locals created the contest as a way to bring summer crowds back to Cannon Beach. The first year was a success and the event continues each year.
Registration for the event is open until June 16th. To register or for additional information contact the Cannon Beach Chamber of Commerce at 503-436-2623.
Astoria Oregon Celebrates 200 Years
Astoria Oregon Bicentennial
Astoria Oregon BiCentennial Celebration Begins May 19th
The City of Astoria and the Clatsop County Historical Society have teamed up plan and organize the Astoria Bicentennial Celebration beginning May 19th, 2011. Some of the events planned include:
Thursday May 19th
“Adventure In History Lecture Series” 7pm Liberty Theater
Friday May 20th
Astoria Heritage Quilters Show- 10am Grace Episcopal Church (15th & Franklin)
Tall Ships Lady Washington and Hawaiian Chieftain- 10am & 2pm 17th Street docks
1906 Shively Fountain Restoration Ceremony & Ribbon-Cutting- 2pm Maritime Memorial Park (under the Astoria-Megler Bridge)
“Cleveland Rockwell Fine Art Exhibit” Opening 3:30-5pm Maritime Museum (17th & Marine Drive)
“Astor Party & the Founding of Astoria” & “200 Years of Art in Astoria” Private Collection of Astorian Michael Foster Opening- 5-7pm Heritage Museum (16th & Exchange)
Chinook Nation and other Native Tribes Cultural Event- 5-7pm McTavish Room (Liberty Theater)
Saturday May 21st
Astoria Oregon Heritage Fair- Opens 9:30am 10th & Marine Drive
Horse and Wagon Rides- 10am 732 Duane St.
Historic Trade Re-enactment Ceremony- 10:30am 17th Street Docks (in the river)
Chinese LION dancers- 12:15pm Maritime Museum
U.S. Coast Guard Flyover- 1pm
Official Welcome & Opening Ceremony Presentation- 1:10pm 10th & Marine Drive
Tall Ship tours, Heritage Fair continues, horse and wagon rides, museum exhibits, ride the Old 300 Riverfront Trolley or climb the Astoria Column- 2-5pm
Canoe Races- 2:30pm
U.S. Coast Guard Search and Rescue Demonstration- 3:30pm 17th Street Docks
Liberty Theater Presents “The Land of the Dragon”- 7pm Liberty Theater
Sunday May 22nd
Astoria Sunday Market Opens 10am
Tall Ships Lady Washington and Hawaiian Chieftain- 10am & 2pm
More details at the official Astoria Bicentennial website.
HomePath® Buyer Incentives Announced
From the HomePath® website:
Fannie Mae is currently offering buyers up to 3.5% in closing cost assistance through June 30, 2011.
The HomePath property buyer must meet the following qualifications to be eligible:
- Buyers and/or selling agents (the agent representing the buyer) must request the incentive upon submission of initial offer in order to be eligible.
- The initial offer must be submitted on or after April 11, 2011 and close by June 30, 2011. If an initial offer was made prior to the effective date, the offer is not eligible for the incentive.
- The sale must close on or before June 30, 2011. No exceptions will be made to this deadline.
- Only buyers purchasing a HomePath property as their primary residence may receive up to 3.5% in closing cost assistance. Second homes and investment properties are excluded from the incentive.
- Buyer must sign the Owner Occupant Certification Rider to the Real Estate Purchase Addendum.
- If a buyer’s total closing costs are under 3.5%, the difference will not be available as a credit to the buyer.
Clatsop County Real Estate March Snapshot
source: Clatsop MLS
A very quick and dirty way to get a feel for what the market is doing right now is to compare recently under contract listings with the number new listings during that time. Is the inventory shrinking? Growing? This will tell you quickly. Read the rest of this entry »
Clatsop County Real Estate Update: Q1 2011
Q1 Closed Sales 2010 vs. 2011
Clatsop County home sales (total units) were down 14% in the first quarter compared to one year ago. Read the rest of this entry »
NAR Says Existing Home Sales Down in Feb. 2011
source: Clatsop MLS. Information deemed reliable but not guaranteed
WASHINGTON (March 21, 2011) – Existing-home sales fell in February following three straight monthly increases, according to the National Association of REALTORS®.
The only thing missing from the above headline is “unexpectedly”. I don’t normally pay a lot of attention to national real estate news because as they say “real estate is local”. National trends averaged over every metro area in the country do not usually reflect what’s happening here on the coast, and I’d venture to say they don’t match up exactly with any market.
Take a look at the chart above I created from data in the Clatsop MLS. Yes, sales in February are lower than in January. Heck, it’s even lower than the 5.something percent figure given by the NAR report. Notice I put those crude red boxes around Jan/Feb of this year and last year? Take a look at the numbers in the 4th column, under the heading Sold Listings. Anything grab your attention? Correct! The number of listings sold in January and February of this year is almost exactly opposite of the number sold in the same months last year. A difference of just 2 homes closed in the first two months of this year vs. last. Is it less? Sure. Is it remarkable? No. Now, if the trend continues into next month, and comparing Q1 2011 vs. Q1 2010 yields similar results then maybe we’ve got something worth talking about. We shall see.
edit: Something notable from the chart is the difference in the number of new listings in the first part of the year compared with last year. (120 vs. 147) I’ll keep an eye on this and report back.
There’s two points to my rambling here:
1. All real estate is local. When you see national statistics quoted, they are almost never inline with what’s actually happening on the ground where you live. It could be better or worse.
2. In a small market like ours, tracking the market changes month over month can give you unreliable statistics and here’s why. When you are dealing with montly sales of 20 or 30 units, a change in just a few sold listings month over month results in a 5-10% change when you do the math. It gets even worse with a very small area like Arch Cape. If there was 2 homes sold in one month and just 1 sold the next, does that mean a 50% decline? Not in my book. However, if the trend continued over several consecutive months we’ve got something worth talking about.
NEWSFLASH: Some Banks Are Dumb
It’s true. Some banks are dumb.
I’ve had the pleasure of working on both sides of the foreclosure/REO re-sale process assisting buyers and asset managers in the sale of many bank owned properties. Even though this ain’t my first rodeo, I still see things that would make any sane person say “WTF”?!?.
Before I go any further I should clarify one thing: The person that you are negotiating with on the purchase of a REO is an overworked asset manager working in a highrise in another timezone that is handling several more (sometimes over 100) bank owned properties besides the one you’re trying to purchase.
They aren’t concerned with the condition of the property, what the market is doing in the area or the stained shag carpet. They only care about the bottom line, and will assess any offer they receive like this:
- Is it cash?
- How much will we net after closing costs, fees, ect?
- How much is the earnest money deposit?
- When will it close?
- Is there an inspection contingency?
- Does this offer fit the investor’s guidelines/rules?
All that to say I’ve learned to never be surprised at the response to any offer I submit or receive on a bank owned property. I’ve seen fairly weak offers accepted at far less than I would expect and I’ve seen the opposite when strong offers are rejected without a counter offer. Just this past week I saw a strong offer submitted on a home that had not seen any other offers submitted to the bank. Within 24 hours the bank rejected the offer and made no counter. Needless to say both myself and my clients said “WTF“?!?.
Back to what I noted earlier about “does this offer fit the investor’s guidelines?”, sometimes the investor (the actual owner of the property) will have some rules or guidelines regarding the sale that the asset manager must follow. These guidelines are never the same twice it seems, and involve outside factors such as the mortgage insurer or if the FDIC is involved. It’s possible the asset manager can receive an offer that meets the price objective of the investor, but there could be something like a closing date that doesn’t fit the investor guidelines and will cause the offer to be rejected without counter or explanation. Along comes another offer that will net the investor less money but with a different closing date or loan type and the bank will accept it. I’ll say that again: The bank might reject one offer and then accept another that nets them less money. No rhyme or reason.
This can and will cause a buyer to go insane. If you’re considering the purchase of a foreclosure, be prepared for a wild ride and try not to get emotionally attached. After all, some banks are dumb.
Ann Marie Park at Juniper Ridge, Warrenton
Ann Marie Park Neighborhood in Warrenton, Oregon
Ann Marie Park in Warrenton, the second phase of the Juniper Ridge development is a hidden gem. Located just a short distance from Warrenton’s city center and both the Warrenton public schools Ann Marie Park is a great place to consider for a new home that’s budget friendly. New homes currently start at under $220,000 and several single and two story plans are being built (at this time a handful are already completed).
New homes at Juniper Ridge, Warrenton
What used to be rolling sand dunes is now an attractive residential neighborhood with full city services (natural gas, city water & sewer connections). Several more phases are planned, and I’m sure will be developed as the housing market allows. Currently work is beginning on the next round of building sites to the West of SW Juniper Ave and I would expect streets to be completed this spring.
Search All New Homes in Ann Marie Park & Juniper Ridge
Market Snapshot: Jan. 22-28, 2011
Recent Clatsop County home sales for the week ending January 28, 2011:
| Address | List Price | Sold Price | Days on Market |
| 89048 Ocean Dr., Warrenton | $750,000 | $675,000 | 324 |
| 197 Marion St., Gearhart | $655,000 | $560,000 | 308 |
| 1720 Southwind Cr., Hammond | $259,900 | $259,000 | 151 |
| 92879 Pearson Rd., Astoria | $212,000 | $212,000 | 123 |
| 91834 Hwy 104 Warrenton | $225,000 | $188,300 | 151 |
| 1835 1st St., Hammond | $176,500 | $153,568 | 167 |
Source: Clatsop MLS. Information deemed reliable but not guaranteed.
Real Estate Markets
Astoria
From historic Victorian and craftsman homes to newer neighborhoods like Knappa, Svensen, Mill Pond Village, River Point, Olney, and more, Astoria, Oregon, offers something for everyone. That’s why so many people choose to make Astoria, Oregon, their home.
Warrenton
Today, Warrenton, Oregon, is a retail center for the county and one of the fastest growing areas in the state. Even though it’s a popular area, the city does a great job of retaining its natural charm. The mix of thriving city and vast natural areas make Warrenton, Oregon, the ideal place to live as it offers a little something for everyone.
Hammond
One visit to Hammond, Oregon, and you’ll agree it’s definitely a unique place to live. Whether you’re out enjoying popular activities like clamming or crab digging with the locals or you come upon on a pirate wedding taking place at the site of the Peter Iredale shipwreck during a walk on the beach, you be hard pressed to find a more exceptional locale than Hammond, Oregon.
Gearhart
Today, Gearhart, Oregon, remains a relaxing place to live and vacation, especially for people that enjoy a mixture of relaxing quiet, exhilarating golf, and stunning nature. This coastal town is a pleasant mix of beach homes and charming neighborhoods like Highlands, Pinehurst, Reserve at Gearhart, Pacific Palisades, Shamrock Pines, Beach Estates, Gin Ridge, and Little Beach.
Seaside
This exciting community has many different types of homes for residents to choose from — from beach homes to condominium complexes west of the Necanicum River. Popular neighborhoods in Seaside include Ocean Cove Estates, Thompson Falls, Stillwater Heights, Sunset Hills, and Skyline.
Cannon Beach
Today, Cannon Beach, Oregon, remains true to its roots as a small town. While it’s a town with plenty to do, local officials keep development at bay to preserve the charm of Cannon Beach. The area is an extremely popular vacation destination for people looking for a little rest and relaxation. In fact, there are likely more second homes in Cannon Beach than full time resident homes
Arch Cape
Today, Arch Cape, Oregon, is pretty much the same tranquil place it’s always been. It’s an unincorporated area of mostly homes, inns, and nature that is the perfect place to live. If you’re looking for a place that will transport you from the hustle and bustle of today’s world so you can lose yourself in the wonder of nature, you’ll love Arch Cape, Oregon.
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Neighborhoods
- Arch Cape
- Astoria
- Cannon Beach
- Clatsop Plains
- Country Club Estates
- Cove Beach / Falcon Cove
- Cullaby Lake
- Elsie Jewell
- Gearhart East
- Gearhart West
- Hamlet
- Hammond
- Jeffers Gardens
- John Day Fernhill
- Knappa Svensen
- Lewis & Clark Youngs River
- Manzanita
- Olney
- River Point
- Seaside East
- Seaside North
- Seaside South
- Smith Lake
- Sunset Lake
- Surf Pines
- Warrenton
