Because most street youth have no place to call home or to keep their minimal belongings, the Prudential Northwest Properties Relocation Division has kicked off its 3rd Annual Transitional Youth Backpack Drive. Please help us give homeless youth a place to keep their few important possessions close and secure by contributing a backpack. This simple gesture on behalf of a young person without a permanent home will make their life a little easier. 

Please drop off a gently used or new backpack at the Prudential Northwest Properties Relocation Division office at 9600 SW Barnes Road, Suite 100 in Portland any time until September 30th. Or, if you prefer, make a donation to Transitional Youth and a backpack will be purchased on your behalf.

Thanks for supporting our efforts to help homeless and at-risk youth. For more information, please contact Jan Richardson at 503-350-7277 or jrichardson@prunw.com. To learn more about Transitional Youth, visit www.TransitionalYouth.org.

Prudential Northwest Properties Newberg and McMinnville branches joined together to sponsor the Special Olympics Summer State Games Victory Dance this past Friday night in Newberg and a fine time was had by all. Many of our brokers and their families came out to help guide the 1,500 athletes into the arena where law enforcement officers and fire fighters formed two lines that the athletes were able to “high 5″ and shake hands with as they came in.

Our brokers were part of the chain of people giving encouragement and congratulations to the athletes and there were several more in the stands with their families cheering them on. Once the torch was lit and the music started, the victory dance began. It was great to see the athletes enjoying themselves and celebrating, and it was absolutely infectious.

Prudential NW brokers Kari Fahrenkopf (left) and Laura Oviatt gettin’ down at the dance!

Newberg broker Rob Molzahn,  who spearheaded our involvement in this event, summed up the evening nicely, “What a treat! Here is where encouragement and positive attitude are a way of life. It was inspiring, and I’m very thankful and proud of all who came and participated. It was truly an evening well spent.”

Photo credit: Special Olympics Oregon

To Branch Managing Principal Broker Ron Schock and our entire Newberg and  McMinnville crew and your families, a big “thank you” for supporting Special Olympics in Oregon … you make us proud!

Click here to learn more about Special Olympics Oregon.

The latest RMLS Market Action report shows real estate activity in Clark County increased in several key measures in June 2012 compared to June 2011.

Accepted offers are up 9.1% over last year and up 3.6% from May 2012. Pending sales numbers showed the most improvement in June.

Average sale price of $208,300 is up 4.8% over last year at this time when it was $218,200 and the median sale price rose 7.9%, going from $180,000 to $194,200.

New listings continue downward, decreasing 17.1% from the same month in 2011 and 9.6% from May of this year. Inventory (the ratio of closed sales to active listings) continues to drop. At the June rate of sales, the active listing count of 2,601 would be exhausted in 5.4 months. This is the lowest inventory in Clark County since June of 2006. Six months of inventory is considered a balanced market.

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate professional today.

The latest RMLS Market Action report for the greater Portland Metro area shows positive upward growth on all fronts when comparing June 2012 with June of last year.

There were 21.7% more accepted offers than at this time last year, and 14.6% more closed sales, with 2,244, which is the highest number since August of 2007.

The average price of a Portland home rose 6.4% to $284,100 and the median price rose 8.6% to $242,000. Median price is the price at which half of the homes are above that price quoted and half of the homes are below. The average time on market dropped 14.5% to 114 days.

The unsold inventory (the ratio of closed sales to active listings) continues to drop, and is now at 3.9 months, the lowest it has been since March of 2007. Given the current rate of sales, it would only take 3.9 months to sell the 8,799 listings currently available in the Portland Metro area. North and NE Portland  have reached inventory levels of only 2.9 months, and SE Portland is down to 2.5 months. These low levels give sellers an advantage across the region, and have led to frequent bidding wars, especially for homes under $300,000.

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate professional today.

Slowly but surely, Americans are regaining confidence in the housing market and keeping the American dream of owning a home alive.

The new quarterly Prudential Real Estate Outlook Survey revealed that nearly two-thirds (64%) of respondents had a favorable perception of the U.S. housing market, a 4-point jump from the first-quarter 2012 survey and a 12-point increase from first quarter 2011. As a matter of fact, nearly seven out of 10 Americans surveyed (69%) also indicated that real estate is a good investment – that’s up 6% from first-quarter 2012 survey results and 17% from first quarter  2011.

Homeownership remains at the core of the American dream, with a solid 78% of respondents believing that owning a home is still very important. A full 98% said homeownership was at least somewhat important. In addition to historically low interest rates, one of the factors dominating the desire to own a home is centered on the family. More than financial security, tax benefits and a good investment, respondents prioritized owning a home as a place to raise a family and have control over their space.

Americans are dreaming with both feet on the ground.

Given the challenges and complexity of today’s real estate market, Americans remain cautious about the home-buying process, with 30% strongly agreeing that the housing crisis taught them to assert careful planning when buying or selling a home.

Cautiousness has also brought with it the willingness and openness to seek professional help in the process. A notable 74% of survey respondents think it’s more important than ever to work with a good agent for the best success in buying or selling a home, up from 72% in the first quarter 2012 survey.

View our first quarter 2012 Chairman’s Report for more market insights.

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate broker today.

Yamhill County Prudential Northwest Properties real estate brokers Rob Molzahn and Kari Fahrenkopf were both recognized by the Newberg Early Bird Rotary chapter for their outstanding volunteer efforts.

Rob Molzahn

Rob, a past President of the organization, was named “Rotarian of the Year” and Kari received the “Spirit of Rotary” award.

Kari Fahrenkopf

In addition to feeding the homeless, building homes and playgrounds, and spearheading a variety of community projects in and around Newberg, the group has participated in a number of international volunteer efforts.

Rob and Kari, thank you for your dedication to helping others and making our world a better place to live. You make us proud!

The latest RMLS Action report for the greater Portland Metro area shows unsold inventory continues to decline, reaching the lowest level since March 2007. It would take only 4.2 months to sell the current 8.742 active listings at the May rate of sales.

Last month, there were 2,522 accepted offers, 16.4% more than the 2, 167 reported in May of 2011 and 6.6% more than the previous month. This represents the highest number of pending sales in the month of May since 2007, when there were 3,054. Closed sales of 2,098 represent a 20.4% increase over the same month last year and 15.1% more than the number of sales in April.

The average sales price has also risen 7.2% when comparing May 2012 to the same month on 2011. Indications certainly point to the local real estate market moving in a positive direction.

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate broker today.

The latest RMLS Market Action report shows real estate activity in Clark County increased in almost all measures in May 2012 compared to May of last year. Only new listings dipped 7.9% when comparing May 2012 to May 2011. At the May rate of sales, the active listing count of 2,710 would be exhausted in 5.7 months. This is the lowest inventory in Clark County since June 2006.

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate broker today.

David Sly

The Portland Metropolitan Association of Realtors Masters Circle named David Sly their “2012 Managing Broker of the Year” at their membership breakfast this morning! Congratulations, David – we’re SO proud of you!

David, the Managing Principal Broker of our West Portland office, earned his real estate license in 1998 and has been a managing broker for nearly 10 years. He has earned his AHWD, CRB, eCertification, GRI, QSC and SFR real estate designations, and has showed his commitment to the real estate industry through an extensive list of committee involvement that continues today.

He has served on the PMAR Grievance Committee for the last four years and the Professional Standards Committee for five years, one of which as the Chairman. He is also a PMAR State Director. For the Oregon Association of Realtors® (OAR), David served as an Executive Committee Member, as well as Business Issues Committee Member for four years and Chairman for one. He is currently serving on the OAR Professional Standards Committee. In the last two years, David became involved with the Oregon Real Estate Forms Board of Directors and will serve as the Chairman in 2013.

David, we appreciate your commitment to the success of your brokers and are proud you represent Prudential Northwest Properties. Congratulations on this well deserved honor!

The latest RMLS Action report for the greater Portland Metro area shows the supply of homes for sale has dropped to its lowest point in years, currently at 4.7 months of inventory. Rates are low and buyer activity is on the rise, often resulting in multiple offers coming in on well-priced homes for sale.

Comparing the first four months of 2012 with the same period in 2011, closed sales are up 13.1%, pending sales are up 17.5% and new listings are down 9.7%. Time on the market has also dropped from 161 days to 132.

To track market trends in your area, sign up for our exclusive Market Tracker report or contact a Prudential Northwest Properties real estate broker today.