Improving Housing Markets | May 2012
Corvallis, Oregon ranked 73rd in improving housing markets index.
According to the National Association of Home Builders/First American Improving Markets Index (IMI), released 5/7/2012 Corvallis, Oregon is listed as one of the housing markets showing measurable and sustained improvement.
The index takes into uses three independent montly data factors – employment growth (Census), house price growth (Freddie Mac) and single-family housing growth (Census) to identify the top improving markets.
Cities in the Northwest include:
- Bend, OR (newly added and ranked 72)
- Corvallis, OR (73)
- Portland, OR (74)
View the full report: NAHB/First American Improving Markets Index (IMI)
Annual Number of Residential Real Estate Sales | Corvallis, Oregon
History of home sales volume — Number of transaction in the Corvallis, Oregon
The Number of Sales in the Corvallis, Oregon residential real estate market is down approximately 36% from the peak number of transactions in 2005. But, it should be noted that 2011 showed an gain of 27 transactions. It seems apparent that there is a slow but steady return to “normal” in terms of numbers of transactions.
(click on graph for larger view)
| Corvallis | |
| Year | Units Sold |
| 2000 | 546 |
| 2001 | 635 |
| 2002 | 658 |
| 2003 | 674 |
| 2004 | 679 |
| 2005 | 779 |
| 2006 | 772 |
| 2007 | 651 |
| 2008 | 501 |
| 2009 | 464 |
| 2010 | 469 |
| 2011 | 496 |
It should be noted that the relative fewer number of sales has a larger influence on aveage sales price due to the limited statistical data pool available.
related post: Corvallis Oregon, Avereage Sales Price History
Source of data Willamette Valley Multiple Lising Service (WVMLS)
Corvallis Real Estate | Average Sales Price History
Average sales price history and comparison as of year end from 2000 through 2011.
Data includes residential type properties (including residential with acreage) for Corvallis, Oregon.
(click on graph for a larger view)
| Corvallis | |
| Year | Avg Sales Price |
| 2000 | $177,939 |
| 2001 | $190,321 |
| 2002 | $188,330 |
| 2003 | $208,275 |
| 2004 | $236,155 |
| 2005 | $251,359 |
| 2006 | $291,958 |
| 2007 | $305,483 |
| 2008 | $301,363 |
| 2009 | $281,707 |
| 2010 | $279,284 |
| 2011 | $272,966 |
It is interesting to note that the Corvallis real estate market has held much better than most other markets through-out the country and even nearby communities in Oregon.
From the “peak” until the end of 2011 there is only about a 10.6% reduction in average sales price. It should be noted that “averages” cannot be directly applied to individual properties as there are many factors that influence value and market-ablity. Additionally, the average is also influenced by the number of sales in various price tiers (fewer sales in the upper price tiers and more sales in the lower price tiers will create a lower average).
Related Links: Corvallis Sales Volume, residential real estate sales history
Source of data Willamette Valley Multiple Lising Service (WVMLS)
Home For Sale | 3145 NW McKinley Drive, Corvallis, Oregon 97330
Looking for a home to buy in Corvallis, Oregon? This could be the one…
Comfortable living and a tranquil setting in a beautiful NW Corvallis location. Plenty of play space on .25 ac lot. Oak flooring in most living areas; carpet in family room, tile entry and Marmoleum® in kitchen and 2 baths. Open kitchen has stainless appliances, quartz counters and artistic tile splash. 2 woodburning fireplaces. Lower level bonus room. 4 bedrooms, 3.5 baths, ±2133 square feet, .25 acre lot.
Comfortable living and a tranquil setting in a beautiful northwest Corvallis location. Plenty of sunny spots and the opportunity to enjoy the dappled sunlight as it filters through the mature trees. Spacious .25 acre lot provides an abundance of outdoor play space. Inside you’ll appreciate the recently refinished oak flooring in most of the main living spaces; newer carpet in the cozy family room; updated tile entry and newer Marmoleum in kitchen and upper level baths. The open kitchen has newer stainless appliances, quartz counters with a delightfully artistic tile splash, a large hammered copper sink and newer lighting. Woodburning fireplaces in the main level family room and the living room are great for cozy, quiet time. Picture windows capture the natural feel. The lower level bonus with nearby bath has potential for dual living, home office, or hobby space. Additionally, you’ll find a half-bath located off the main level laundry, near the kitchen and family room and a spacious 2-car garage.
This home is located close to several great Corvallis Parks, including Cloverland Park (approx. .50 mile); Timberhill City Park (approx .25 mile); Timberhill Natural Area (approx. 3 miles) includes 47 acres of natural area; Riverfront Commemorative Park in Downtown Corvallis (approx. 3mi).
This property also provides easy access to Good Samaritan Regional Medical Center (approx. 2.5 miles); Oregon State University (approx. 2.5 miles); local shopping at Timberhill Shopping Center (approx .5 mile) and of course many, many more local attractions and amenities.
Home For Sale | 1665 NW 11th Street, Corvallis, OR 97330
Comfortable living, close to everything Corvallis has to offer (Walkscore 85).
Spacious and open floor plan flows from living to dining to kitchen to family. Sunny breakfast nook off kitchen is a great “hang-out” spot and ideal place to soak up the sun. Two steps down (at the same level as the entry) is the family room, large laundry and full bath. Upper level provides 4 large bedrooms with fir flooring under carpet. Master with attached bath and large walk-in closet. Landscaped yard with wide driveway (RV parking). Easy access to 9th Street shopping, neighborhood schools, downtaown and Oregon State University. 4 Bedrooms, 3 baths, ±2391 sq. ft.
Now…this…is home… Comfortable living, close to everything, with a walk-score of 85. The sheltered front door leads to a wide and open entry. Just two steps up and you’re ready to nestle into the spacious yet cozy living room and bask in the warm glow of the gas fireplace. The flowing floor plan leads from the living room to the light and bright, formal dining area and then to the large kitchen. A wonderful space for entertaining and parties. Settle into the adjacent breakfast nook with the morning paper and your coffee or juice and savor the sunlight. Entry, kitchen and breakfast room enjoy warm wood flooring. Two steps down from the kitchen and at the same level as the entry, is the family room, a hub-of-fun, your ideal game, media, hobby or TV room which features built-in sewing cabinet and bookcases. Nearby you’ll find a full bath, with jetted tub and a large laundry/mud room with a door to the backyard. Upstairs are 4 very large bedrooms with fir flooring under carpet, including the master with attached bath with wide shower, Marmoleum® flooring and large, walk-in closet. The second bath includes double vanity, tub/shower combo and Marmoleum® flooring. Outdoors you’ll enjoy extended living many seasons of the year with the covered deck that’s accessible from both the dining room and breakfast nook; it’s the ideal outdoor dining and BBQ spot. Landscaped backyard is easy care with potential for raised bed gardening, rose bed and there’s a garden shed. The wide driveway can easily accommodate an RV, boat, big-wheels, four-square or chalk-art. This home is very close to local schools and you’ll enjoy the wide open expanse that comes with nearby Garfield Park and it’s also very close to Porter Park. Easy access to 9th Street businesses including Market of Choice, Trader Joes, restaurants and retail establishments. 4 Bedrooms, 3 baths, ±2391 sq. ft.
MLS# 650004
For more information or a personal showing, contact Dava
Home for Sale | 2940 NW Circle Blvd, Corvallis, OR 97330 $215,000
Single Level Home for sale: 2940 NW Circle Blvd, Corvallis, OR 97330
Well maintained, single level home close to local parks (Cloverland Park and Woodland Meadow as examples), shopping, medical, bus line and schools, only about two (2) miles from Oregon State University (OSU). Spacious family room with wood accents and brick flooring. Exterior features brick accents. Fireplaces in both the livingroom (with gas) and family room (burns wood). Spacious finished two (2) car garage .24 acre lot with large private, south facing, landscaped and fenced backyard with 14′x13′ finished studio/shop building. This property would suit the needs of many including: first-time home buyers, investors, or those looking to downsize. 3 bedrooms, 1.5 baths and approx. 1444 sf.
For additional information contact Dava
Home for Sale | 1990 Salmon Run SW, Albany, OR 97321 $245,900
NEW PRICE!
Custom quality home for Sale in the Spring Meadow Subdivision
This is the only one like it in the Spring Meadow subdivision of Albany, Oregon. Custom quality home in impeccable condition, features a hardwood entry, vaulted ceilings, main level master, beautiful stainless and cherry kitchen with island and specialty cabinet features. The living room has a gas fireplace. Master features double vanity, separate shower and soaking tub. Comfortable all year long with gas forced air heat and central air conditioning, electric powered Sunsetter awning. Landscaped with sprinklers, concrete walk-way entire perimeter of house and a fenced backyard with wide side-yard. Oversize 2-car garage. 3 bedrooms, 2.5 baths, ±2186 sq. ft.
Not another like it. This home is the only one of this floor plan in the Spring Meadow subdivision. 3 bedrooms, 2.5 baths, great room style living/dining area, breakfast nook and laundry room.
- Dramatic entry with Brazilian Cherry flooring and soaring vaulted ceilings.
- Large living area with gas fireplace features vaulted ceiling and space that flows to kitchen and dining
- Kitchen has
- center island
- cherry cabinets with specialty cabinets features like pull out drawers and lazy-Susan
- stainless steel appliances
- Main level master is large enough to accommodate large furniture pieces and features a walk-in closet
- The attached bath has:
- double vanities
- a separate shower
- garden tub
- Upstairs find:
- large additional bedrooms
- a full bath
- and an alcove at the top of the stairs that can accommodate your computer, reading nook or display cabinets
- Outside delight in the landscaped yard with:
- easy care with walk-ways that circle the whole house
- a fenced backyard
- large side yard and generous amounts of patio space.
- Create your own shade with the electric awning patio cover
- Extra wide side yard is ideal for extra patio space, possible hot tub area, container gardening small RV
- Comfortable all year long with gas forced air heat and central air conditioning
- Oversize 2-car garage
- Corner lot provides additional privacy to this beautiful yard
- Great location near LBCC and major corridors makes your work, play and shopping commute a breeze
MLS# 649394
For more information or a personal tour contact Dava
Related Links:
Search for Albany Homes
City of Albany Web Site
Albany Oregon Chamber of Commerce
Albany, Oregon School District
Upcoming Events | Corvallis Culinary Week
Great Food at Good Prices: Corvallis Culinary Week
Corvallis Cullinary Week should once again, prove to be an excellent opportunity to get out, sample some local restaurants and enjoy some really great food. The 2012 event is held January 22nd to January 28th. The week is geared toward offering the Chef’s specialty dinners at only $10.00 per person. Meals will be paired with local (Benton County) wines (cost of wine is not included in the meal prices).
The family and I attended a few of the offerings last year and were rewarded with some excellent meals at great prices. We will be sure to check in again. More information can be found at the Visit Corvallis web site: Corvallis Culinary Week 2012. Hope to see you there!
Corvallis Home For Sale: 4818 NW Bruno Place, Corvallis, Oregon 97330 $367,500
For Sale: 4818 NW Bruno Place, Corvallis, Oregon
This beautiful home is nestled on a quiet (double) cul-de-sac in the desirable Walnut Park neighborhood. Head to Martin Luther King Jr. Park (formerly Walnut Park) on the neighborhood trail. This home is also close to schools, community parks and nature trails, and is just minutes from Oregon State University (OSU) and downtown Corvallis.
The floor plan is versatile and designed for comfortable living and has inspiring spaces for entertaining, relaxing and fun. 3 or 4 bedrooms, 2.5 baths, bonus space, two main living areas, a beautiful kitchen and 3 season room. Approximately 2500 square feet.
Entry:Vaulted ceiling Access to living room, family room and upper level Hall closet is hidden behind a built-in bookcase for a delightfully, efficient use of space.
Living Room: Open to entry with arched doorway, dining room, and kitchen. Ideal flexible room for TV, den, or other needs. Great space for entertaining or as a place to put your feet up and relax a bit.
Dining Room: Access to the living room, kitchen, and outdoor screened porch. Beautiful hardwood floor.
Family Room: Open to kitchen and entry with ceiling fan, wood burning fireplace with brick surround, bay window with window seat.
Kitchen: Spacious and bright with beautiful hardwood floors and open floor plan to dining room, living room, and family room. Access to 2-car attached garage, powder bath, laundry area and backyard. Oak cabinetry with ample pantry storage throughout and breakfast bar between kitchen and dining room. Large center island with Granite counter-top and pantry storage. Appliances include cooktop with 4 burners plus a grill/griddle, convection wall oven, side-by-side refrigerator, dishwasher, and built-in microwave. Double sink and planning station overlook backyard.
Upper Level Master Suite: Double door entry and ceiling fan. Spacious walk-in closet with ample storage. Large window seat plus you’ll feel like you’re in the lap of luxury with the attached master bath
Master Bath: Peaceful and serene overlooking the backyard features a spa-like large jetted tub, seperate shower, double vanities with storage, separate toilet room with linen storage.
Upper Level Bedrooms: One bedroom has a built-in desk and shelves, one bedroom has a niche for a reading nook or desk and access to additional under eave storage closet, great for seasonal storage items. The 4th bedroom (no closet) has built-in storage shelves and is also ideal as a library, home office, craft room, play room or a variety of other uses to suit your needs.
Upper Level Main Bath: Shower/tub combo Large vanity with tile counter-top and tile flooring
Third Floor: This finished space provides additional bonus and storage.
Outdoor Screened Porch: Located just off dining room and kitchen, making it an ideal space for entertaining and maximizes living space 3 seasons of the year. The ultimate way to extend your time enjoying the outdoors.
Backyard: Large with easy-care landscaping including an irrigation system, it’s fenced and level, providing a great place to play, garden, or entertain. Wide side yard and double gate provides enough room for a small RV or boat.
Garage: Large 2-car attached garage with plenty of storage space.
MLS#648252
If you’d like to see this property in person: Contact Dava
Additional Details:
Investment Property Exchange Pit-Falls
Don’t make these mistakes: Common errors that create problems with 1031 exchanges.
Most real estate investors know that one of the very best tools for delaying capital gains taxes is to utilize a tax provision called a 1031 exchange. The 1031 comes from the section of IRS Tax code that is applicable and the “exchange” part comes from the pr
ocess by which the investor trades-up into the next property without incurring immediate tax consequences (in other words the income and capital gains tax consequences are deferred to a later date).
The rules are stringent and must followed exactly for the exchange to work. Best intentions are not acceptable to the IRS and your state tax board.
I recently learned that 1o31 Exchanges are identified by the California Francise Tax Board as one of the top audit topics and the four top issues (as provided by IPX1031) are:
“1. Failure to make a proper identification or comply with other technical requirements of Section 1031;
2. That the relinquished and/or replacement property are not held for a qualifying purpose (held for investment or productive use in a trade or business). For example, the property is used for personal purposes or it is held primarily for sale;
3. The taxpayer who sells the relinquished property is different from the taxpayer who acquires the replacement property; and
4. The taxpayer receives non qualifying property in the exchange (boot), but fails to report it on their tax return.”
I understand that only relates to audits conducted by the State of California, but the issues that are found in California will not be that much different than those found in Oregon. Taxing authorities are looking for areas to make up for lost revenue. You don’t want it to be the mistakes you make in your real estate purchase or sale.
It also emphasizes the importance of having a 1031 exchange facilitated by a Qualified Intermediary that knows and complies with the requirements contained in the 1031 statute and regulations.
If you are interested in finding out more about investing in real estate, 10310 Exchanges, buying or selling real estate in Corvallis, Philomath, Albany or Lebanon, I’d be happy to help! Contact Dava
related links:
History of 1031 “Starker” Exchange (did you know it originated in Oregon?)
IPX1031 (user friendly, detailed information about exchanging property)
Equal Housing Opportunity. Each Office Is Independently Owned and Operated.