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). [Read more...]
Surprised? Yes. Amazed? Not exactly… I must admit, when I began looking at year to date MLS sales data I didn’t expect this: The total number of closed (single family) sales in Clatsop County in 2010 for the period Jan. 1-Nov. 30 has surpassed both 2008 & 2009 for the same period. In what many consider a down market, one might assume that “nothing is selling”. I’m asked daily if homes are selling and people are genuinely surprised when I tell them yes.
Not every property type has enjoyed the same result, let’s take a look at condo’s and townhomes:
The condo market has been depressed for the past few years. I would consider the mostly flat level of sales a win all things considered. We’ve seen more than one new condominium development auction multiple unsold units after failing to sell them in a timely manner. I haven’t run the numbers, but I would wager that the condo and townhouse market has also seen a larger decline in value compared to other property types.
Where are all these sales taking place? For the most part even with a steady number of units sold we’re seeing priced pushed further down, that could be the reason for the uptick in 2010. In 2008 home buyers were too scared to buy unless their situation forced them to do so, in 2009 the level of uncertainty was still high. At some point in 2010 buyer confidence has began to come back helped by the tax credit offered earlier this year. Investors have also returned to the market leading some to speculate that we’ve almost reached the bottom.
Here’s what the single family sales look like broken down by city:
Nothing too shocking here, Astoria has the highest number of closed sales in Clatsop County but also is the largest city. Note the city of Warrenton in 3rd place. That’s a strong number considering the rather small population base compared with Astoria and Seaside. In fact, if you combine the number of closed sales of both Warrenton and Hammond it’s more than Seaside.
To answer the question, yes homes are selling. Some in a matter of days not months, and multiple offers on a decent property isn’t unusual.
What do you think the new year will bring? More of the same? Another decline? Let’s hear it in the comments.
source: Clatsop Multiple Listing Service. Data deemed reliable, not guaranteed accurate.
I was out showing property in Warrenton this past weekend, and I realized something:
Some homes are new, some are old. Some homes smell good; others smell like mold.
-pearl of wisdom by Jeremy
I’m in-and-out of homes every day, usually several. I get a pretty strong feeling immediately if a home presents itself well, is priced right and has a good location. All that said, there are usually listings that stick out as a “shiny penny” or the best or the rest. This week I’ll focus on one of the most popular market segments: Homes under $300,000 in Warrenton and Hammond, Oregon.
Best New Home This Week
It seems like Warrenton is the only place in the world where spec homes are currently being built. The Juniper Ridge and Ann Marie Park development has done very well, new homes are selling well considering the overall market. Currently there’s 5 new homes available in Ann Marie Park, and 1 available by the same builder in nearby Pacific Ridge Estates.
My personal favorite this week is 1720 Southwind Circle in Hammond, listed by Windermere CCRGI. This home has a roomy 4 bedroom floorplan, and backs to a wooded area. Priced pretty well for new construction at $119 per sq-ft.
Best Use of Cedar This Week
The home on Shoreline Drive in Cullaby Lake is a sleeper: custom Lindal cedar home on the canal, includes detached 2 car garage and a sweet garden shed. Recently reduced to $277,000. A very well maintained home in a great neighborhood, should be a worry free purchase for the new owner. Listed by RE/MAX River & Sea.
Foreclosure Deal of the Week:
Barely two year old, quality Johnson construction at The Orchard neighborhood in Warrenton. A great location (just a few blocks from both Warrenton public schools), and a great price (currently price over $30,00 below the original sale in Feb. of last year). The home is owned by Fannie Mae, and the current list price of $209,900 is about 30 days old- look for a reduction to $200,000 mid month. Listed by Kent Price Realty.
note: these homes were available for sale according to the Clatsop MLS as of 12/1/2010, however no guarantee can be made as to the availability of these homes in the future.
Tucked away just East of Highway 101 is Cullaby Lake, a quiet neighborhood in Warrenton that surrounds the lake and canals that adjoin it. The Cullaby Lake neighborhood is made up of about 100 lots, most of them having homes already built on them. The majority of the homes were built in the 1980′s, but a handful are newer than 1990. The development is quiet, tucked away and out of sight of most- with the exception of Hawkins Road leading to the boat launch and day use recreation area of the Cullaby Lake County Park.
The County Park is 165 acres and includes a public boat launch, swimming beach, interpretive trail and a day-use area. The day-use area is a popular picnic location with two covered areas, a volleyball court, multiple horseshoe pits and a playground. Cullaby Lake itself is more than 219 acres on the surface, and includes nearly a mile of shoreline. Jet skiing, boating, fishing and swimming are very popular here, and there’s an annual speed boat race held on the lake each summer.
Cullaby Lake homes vary greatly in size, architecture and price- Homes recently listed for sale in Cullaby Lake range from 1300 sq-ft ranches for under $200,000 to custom built 3000+ sq-ft homes on the lake selling for over $400,000. The entire development is connected to a community sewer system*, while the Cullaby Lake Home Owners Assoc. includes most of the homes but not all (a handful of the early homes were built prior to the official development, and aren’t part of the HOA).
*The community sewer system is in need of replacement per DEQ mandate. Currently the most likely option for compliance is removing the sewer system and connecting to the City of Warrenton sewer system. The cost is estimated to be more than $3m and the district is trying to obtain funding.
I went back in the CMLS recently and researched the market trends for each city in Clatsop County from 2002 to the present and found some interesting things. Each city peaked at slightly different times but Warrenton really surprised me when looking at the annual units sold. The increase was huge from 2002-2005 but median sales prices lagged slightly behind.
[Update: I updated the chart to include data through 2010.]
Jeremy Linder is an Oregon real estate broker with RE/MAX River & Sea and an Astoria Oregon real estate specialist. Get in Touch.
FacebookGoogle+My tumblr
Jeremy Linder
503-338-5200
Oregon Real Estate Licensee