Do you know how many qualified buyers are out there at any given time in the Portland area?  A ton.  And most are not taking advantage of our current market situation.  Here are several reasons that now IS a good time to buy Portland Houses:

• House Prices around Portland

Compare today’s prices to the last couple of years.  Portland home appreciation rates of 5% are historical averages but declining values are very rare trends.  Projections for our economy continue to be centered around mid 2009 for a turn around.  The local housing market will definitely pick up as soon as people’s perception changes.  After all, perception is reality.

• Renting vs. Buying

Just the law of supply and demand.  Areas like Hillsboro, Beaverton and NW Portland will continue sustained population growth as large companies move in high-tech locations on the west side.  These eventually fuel the need for housing.  If people aren’t buying, they’re renting.  Rental supply shrinks and price goes up.  Real estate buyers are fewer and prices of homes for sale in Portland go down (like we’re seeing now).

• Huge selection of houses

Right now we’re facing an 11 month supply of homes.  That means if no additional homes listed in MLS then the current rate of sales would take 11 months to deplete our inventory.  This is higher than in recent history giving buyers a huge advantage.  Sellers are happy to get an offer!

• Homes are a forced savings plan

Tying yourself to a mortgage is a form of disciplined investing.  Everyone has to live somewhere.  Choosing to own a home can really pay off in the long run.  Generally speaking rents and real estate prices go up.  Your mortgage payment stays the same.  The earlier you start the better off you’ll be due to equity build up.  My first house payment 12 years ago was $531/mo.  Rent for that same house now would be at least $1000.

• A Look Back at House Values

Who hasn’t talked with a parent or grandparent and heard about the good ol’ days of house prices and payments?  Timing a home purchase is optimal but it’s not likely that you’ll be successful.  Average appreciation for homes in Beaverton, Hillsboro, Tigard and Portland are similar are better than average US numbers.  Our current housing market situation is temporary.

• Investor cash flow

It’s not hard to find an investment home in Portland’s metro area.  Cash flow is looking better than it has in years.  Several homes in decent Beaverton and Hillsboro neighborhoods in particular offer great investing opportunities.  Highly likely that properties can cash flow with 20% down.  Real estate foreclosures are running high and, if you can tolerate the wait, short-sale situations offer fantastic value!

Talk with me today about buying or investing in Portland Oregon real estate.   Visit www.MaxwellSinclair.com for information and search Porland MLS listings.