Dave’s Commentary on the Portland Real Estate Market:

• Portland homes close to market bottom (again)
• South Waterfront condos for sale priced better than ever
• Investment properties in Portland ripe for the picking

Went to hear the experts predict the future last week.  Great seminar and softened concerns for a continued rocky slide in home prices.  Bottom of the market is here but housing prices haven’t necessarily realized such just yet.  Banks are holding more inventory to minimize investor loss.  We know inventory is out there but banks aren’t dumping homes all at once.  Makes for a less dynamic price change… probably a good thing for sellers anyway.

Interest rates jumped up a bit this week to around 4.375% for a 30 yr fixed.  Still awesome.  Foreclosures in Portland, Beaverton, and Hillsboro are now priced incredibly well, offsetting costs of repair often required.  Sellers are having a tough time swallowing the fact that these sales are occurring down at points near 2000 levels.  We’ll be slogging along the bottom here until employment picks up.

Portland condos for sale have seen some of the harshest hits to prices.  The Portland South Waterfront location still has inventory available even after amazing auction prices and publicity.  Brokers produce a frenzy of interest with loss leader inventory pricing advertised.  Home buyers can snatch these up significantly under what the existing owners paid, even those who purchased earlier this year.

Investment properties in Portland have presented opportunities far beyond anything this writer has seen in his professional career.  Rents are up, vacancy down, prices down.  What could be better?!  Loan criteria, that’s what.  Try purchasing investment homes and having mortgages on 4 or more places.  25 – 30% down payments will be required.  This limits the competition a bit.  Investors often compete for the super well-priced homes.  Numbers are looking great for the long term purchaser, primary or investment!  Go buy a house and you won’t regret this 5 years from now!

Call us and find out more about the Portland real estate market. We have specific strategies to guide both buyers and sellers. Find YOUR HOME WORTH now.

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