Sunriver Real Estate 2nd Quarter 2010 update.

We have 13 closed sales for the month of April for a total of $4.6 million.  We have 14 pending sales totaling $6.6 million that should easily close by the end of the quarter.  We still have 2 more month to go in this quarter and my expectation is that we will most likely do over $12-14 million in volume for Q2.  In 2009 we closed 19 transaction for a $ value of 6.3 Million.  We will easily increase volume by 100% this quarter over last year.

Sunriver currently has 167 homes on the market, 38 condo, and 14 lots.  I had expected that number to be higher and I do expect it to increase to over 200+ homes by mid summer.   The good new for buyers is that most of the sellers are pricing there homes to sell in this market.

Sales have continued to be slow in Caldera.  There has been one home sale and one pending cabin sale this quarter and one lot sale and 3 pending.  Caldera is however seeing new construction of custom homes.  Many people who bought in Caldera are going forward with building.  Caldera's experiencing more building than any resort in Central Oregon.  There are a number of extremely well priced homes for sale in Caldera, truly something to consider if you are currently looking.

Please give me a call if you have any question about this information.

John Watkins

541-390-3600

jdw48@mac.com

Sunriver Real Estate 1st Quarter Final Numbers!!!

Three weeks ago when I finished and submitted my Sunriver Scene article for the month of April I forecast that we would have 25 closed deals and $12.25 million in sales for the first quarter.  Well I was way short, we closed 32 deals for a total volume of $13.7 million for the quarter which gave us a 100% increase over last years number of $6.7 million.

The good new continues as we have 14 pending deals already for Q2 2010 totaling $6.16 million.  This number is already almost equal to the $6.8 million we did in Q2 of 2009, so it looks like we are going to continue to blow away the quarter over quarter numbers for Sunriver.

We have moved up from around 130 homes on the market at the end of the year to about 160 currently.  I do expect to see a continued increase in the number of homes listed as we move through the second quarter.  With the Fed getting out of the mortgage buying business I do expect to see interest rates rise about 1/2 a point over the next month or so, but homes are still at bargain prices in Sunriver.

Sunriver Real Estate 1st Quarter update

We are 2 months into the first quarter of 2010 and we are having a great quarter.  We have closed 21 transactions in Sunriver for a total of $9.47million.  The average price per home was $451K and the % of average sales price was 93%.  We have 13 pending transactions on the books  that could still close this quarter giving us the potential to do as much as $15.3 million this quarter.   Last year we closed 20 transaction for a total of $9.55 million.   Buyers are taking advantage of the low interest rates and a good selection of nicely priced homes currently available.

The activity in Caldera and Crosswater has also picked up.  Crosswater has one bank owned property pending and Caldera has 2 sold lots and one pending and 1 cabin pending and 1 home sold.  The showing volume and interest in both areas has picked up significantly.

We are still expecting to see a large number of new listing come on the market in the coming months and everyone assumes we will see some upward pressure on interest rates by the end of the summer.

Send me your questions and comments.

John

Sunriver Real Estate mid Quarter update - Q1 2010

Great news, we are halfway through the first quarter of 2010 and we  have 28 deals on the books.  14 are closed with $ volume of $5.78 million and 14 pending deals with a $ volume of $6.132 million assuming they close at 93% of list price.  If they all close this quarter that will give us $12 million in volume and a 30% increase in volume over 1st quarter of last year.

Interest rates are still low and the number of homes on the market in Sunriver is still around 130.  We do expect to see a large number of homes come on the market in the next few months.

My next update will be in two weeks.  Please contact me if you have any questions.

Q1 2010 Sunriver Quarterly update

It clearly feels like prices have bottomed in the Sunriver area and the buyers know it and are starting to look much more seriously.  Pricing is still the key as the buyers are clearly focused on value and cost per square foot.  The inventory is down to 129 homes from a high last summer of 230.  Most brokers in the area feel that we will see a large number of new listing in the next few months and we will most likely return to over 200 homes on the market by early summer.  With the large number of homes on the market I do not believe we will see prices begin to move up anytime soon.

In Q4 09 we started to see a return of the buyers to the Sunriver market.  As you can see from my previous blog update on the final numbers for Q4,  the numbers for Q4 09 showed a significant improvement over Q4 08 both in quantity of transactions and dollar volume of transactions.  Q1 10 also benefited from a strong Q4 with a significant carry-over of pending deals.

Q1 10 Sunriver currently has 6 closed deal and 16 pending deals for an estimated $ volume of $9.288 million.  Thats a great start to the quarter and we are only 31 days in.  Q1 09 had 20 closed transactions for a $ volume of $9.55 million, so it looks like we are on track to beat last years Q1 numbers.


Crosswater and Caldera had some activity in Q4 09 with 1 lot sale in Caldera, 1 cabin and 2 homes.  Crosswater had 2 home sales.  Currently in Q1 10 there is one pending sale in Caldera so far this quarter compared to 2 cabins and 1 home sale in Q1 09.


Please feel free to contact me if you have any questions about this data.


John.

Sunriver Real Estate Q4 2009 - Final

We had a great quarter in Sunriver with the best numbers in over 2 years!!!  Closed 42 transactions for a total of $16.625 million in volume.  This is just homes and does not include condo's, shared ownership or land sales.  Last year in Q4 we did just over $14 million with 27 transactions so this quarter was clearly the turning point up from the bottom of this cycle.  We still have 160+ homes on the market and with the economy improving we expect to see a lot of new listings coming on in the spring of 2010.

With interest rate still around 5% if you were thinking about making a move now is the time!!!

Q1 10 is also starting strong and will most likely eclipse Q1 10's numbers of $9.1 million and 18 transactions as we already have 13 pending deals totaling over $6 million. 

Sunriver Real Estate Q4 2009 progress report #2

With the addition of 12 new deals in November 2009 the  total potential for Q4 2009 has gone up to 43 transactions.  Now I am sure they will not all close before the end of December but we have already done 27 deals this quarter, so we will surely beat last year as we only did 27 all quarter.  We have 16 pending deals that could close before 12/31/09.  That would give us over $16 million in volume, but as I already pointed out that is unlikely, but getting over last years $14.3 million is not out of the question.  These numbers are for homes and lots, and do not include condo's.  Condo sales continue to be very slow.

The good news here is that we are getting traffic and they are buying.  Q4 will hopefully push a nice carry over of pending deals into Q1 10 and keep the momentum into next year.  All the national numbers are showing continued improvement and interest rate are still below 5%.

Lets hope the holiday's and early snow in the mountains bring in the buyers!!!

Happy holidays.

John.