How long have you worked in the field?
What is the main community you sell in?
“I guess it would be Long Beach but I cover the entire peninsula.”
Is there an area you consider your expertise or specialty?
“Residential home listings and sales.”
How do sales and inquiries from potential buyers and sellers compare this summer to last year at the same time?
“More buyers than sellers so far.”
How does your number of listing/inventory compare to last year and recent years?
“I have fewer listings than I did the last two years, both homes and land, but more commercial listings.”
Would you consider it more of a buyer or seller’s market? Why?
“Slightly more a seller’s market because the inventory is lower. Buyers are having to compete for homes in some cases.”
What are the unique benefits of purchasing in Pacific County?
“I think the beauty of Pacific County, the beaches, fishing, etc., all contribute to the desirability. One of the best attributes is the lack of a state property tax and the convenience of no sales tax in Oregon. Oh, and having someone else pump our gas in nasty weather (ha-ha).”
What are the biggest drawbacks?
“We are a depressed county. Jobs are minimum wage, there’s a lack of affordable housing. Not a lot of choices for medical care or shopping.”
Have you witnesses any trends or changes in the community regarding sales?
“There are more young people buying homes than before. Many were already here and renting but some are relocating here.”
How do closings this summer compare to the past couple years?
“So far this year I’ve exceeded 2017 and 2017 far outweighed 2016.”
Are loans sufficiently available? How are interest rates?
“Loans seem to be available and we’ve seen an uptick in VA (Veteran Affair) loans. I haven’t heard too much negativity about interest rates.”
How are appraisals coming in, about what you expected? Higher? Lower?
“Appraisals have been right on the money, or slightly over in most cases. We’re lucky now that we have enough sales that the appraisers have something to work with.”
What’s your local situation with regard to building sites? How is supply and demand?
“Building sites are available all over the place. Surfside in Ocean Park currently has 65 vacant lots for sale. There are several lots in Discovery Heights, a gated community in Ilwaco, with some fantastic views.”
Are development costs holding back new construction? Are there other factories impacting the housing/construction businesses positively or negatively?
“I think development costs and just the whole process is daunting to many people. New restrictions on building near shorelines is an issue. Most properties require some sort of critical area or wetlands determinations. Septic system costs are higher than they used to be. Conversely, more people are building on their lots which means the builders are too busy to take on new projects.”
How friendly is the market for first-time buyers compared to the previous year? Is it becoming easier or increasingly out of reach?
“I think first-time home buyers have an excellent chance of getting a home for a reasonable price. There are also a lot of programs for them, along with down payment assistance in some cases.”
Is there anything I didn’t ask that you would like to add or mention?
“Transactions are more complicated than they were in the past. It’s unfortunate, but a lot of people have gotten into the real estate market as brokers without adequate training or supervision. Buyers and sellers owe it to themselves to get referrals from people, check reviews, etc.”