Business
Clatsop County Real Estate April 2008 Round Up
Restore, Preserve, Renovate…Oh My!
What does it mean when someone says they are rehabbing or an ad says “Remodeled Ranch”? I’m here to fill you in on some terms with some help from John Goodenberger with the Lower Columbia Preservation Society.
Preservation – preventing the building from deteriorating, keeping it as it is.
Restoring – returning the building to its earlier condition.
Renovation – adapting a historic building for a new use, this uses both restoration and preservation.
Reconstruction – building again.
Remodeling – this is a little of reconstruction and a little renovation.
Rehabilitation – bringing the house to a good or useful condition.
Now to practice these new vocabulary words in a sentence: I wish I could restore myself to my 18 year old self but for now I will just work on preservation.
What is an Absorption Rate?
The absorption rate is how long it would take to sell all the houses for sale in the current market. For example, if 10 homes are selling each month and 100 homes are on the market, it would take 10 months to sell those 100 homes at 10 homes each month. Why would you want to know the absorption rate, you ask. Well, if you want to sell your house in 5 months (using the example), only 1/2 of the houses or 50 homes will have sold in that time. You would want to price your home in the lower 50% of the price range for similar properties. Want to sell in 2 1/2 months, then price in the lower 25% for similar properties.
For Clatsop county our current absorption rate is 8 months.
Interest Rates
As of 4/4/08 from Bankrate.com: 30 year fixed 5.76%, 15 year fixed 5.32%, 5/1 ARM 5.48%, 30 year fixed jumbo 7.12%
Are you thinking of selling? Wondering what your house is worth in today’s market? I can provide a no-cost Comparative Market Analysis and share with you how I market homes to get them SOLD! Email me to schedule a time.
Previous Real Estate Round Ups
Business Links
Recent Comments
Absolutely NOT, Balkins.
CONDITIONAL USE is NOT outright permitting cables and pipelines. If it was OUTRIGHT they would remove the words, CONDITIONAL USE.
By marge from the article What is the Biggest Issue Facing Clatsop County at this time?.I think all roads should be outlawed. We had over 40,000 deaths on roads last year. A hundred times more than lost in Iraq, 39988 more than lost world wide …
By carmel from the article LNG Referendum 4-131 Campaign - Fraudulent or Fact?.If this referendum has no impact on Bradwood why did I just recieve a piece of propaganda from them about the referendum encouraging me to vote yes?
Anyone, …
By Native Califegon from the article LNG Referendum 4-131 Campaign - Fraudulent or Fact?.Isn’t it so that every jewel has many facets. No one is as saint from where I sit. But then I had an opportunity to see the sausage being made …
By carmel from the article Clatsop County Manager Scott Derickson Headed To Woodburn.I am sorry to see Scott leave, I do agree Marquis is a stumbling block for Scott to achieve any goals.
By moderately normal from the article Clatsop County Manager Scott Derickson Headed To Woodburn.
3 Comments
On Apr 5, 11:37 PM, Tryan Hartill wrote:
Here is also a good Real Estate article from the Seattle Times...(In the Business side bar...good links I tell ya!)
http://seattletimes.nwsource.com/html/realestate/2004329266_homesales05.html?syndication=rss
It shows how different buyers and sellers “expectations” are:
From the Article:
It kind of looks like the same around here when you compare March 2007 to 2008. Prices are staying about the same when you average the 6 selling areas, but a lot less were sold in March 2008.
On Apr 7, 11:32 PM, Tonia Mock wrote:
Totally spot on, this article had really good points about things happening in our world right now.
Tonia
On May 28, 12:07 PM, bathroom design wrote:
I think its common sense to know what it means by remodeled ranch our house. It means the house has been redesigned to give it a new look or improve the look.