Sunriver Real Estate 2/3 through the Quarter 2010 update.

The good news is we are way ahead of last year, the bad news is we are not going to match the Q1 2010 numbers.  In the last 2 weeks we have only added 2 new deals to this quarter and closed 5 pending deals.  The buyer traffic has been very slow over the last 30 days.  This is somewhat typical as people are waiting for summer at this point.  Our inventory of homes for sale has shot up over the last several weeks to 206 homes and I still expect it to continue on up to around 230.  We do have people shopping this market, but as a client of mine told me over the weekend " there is almost too much  to see, it is hard to make a decision".

The summer season is coming fast and soon we will be in the busy season.  With interest rates continuing to stay below 5% and the economy in slow recovery we are hopeful that this summer will prove to be good for all of us.

Sunriver Real Estate Mid-2nd Quarter 2010 update.

We have now closed 18 sales this quarter and have a total of $6.6 million of Q2 2010 volume.  We have already exceeded last years 2nd quarter numbers.  We currently have 13 pending sales for a total of $5.3 million that could close this quarter, which would put us close to $12 million for Q2 2010.  What is interesting is that Q1 2010 looks like it is going to have been stronger than Q2 unless thing pick up quickly.  Sales have slowed a little in the last 3-4 week as the traffic to Sunriver has been down.  Now that the golf courses are open and the sun and good weather will soon be here we expect the buyer traffic to pick up significantly.   

Two weeks ago we had 167 homes on the market in Sunriver, we now have 185.  I suspect we will be over 200 homes on the market by the first week of June. 

With a great selection of homes to choose from and interest rates still extremely low we should continue to see a growing number of sales this year.

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.