Dave’s Commentary on the Portland Real Estate Market:

• Available inventory is at 7.3 month’s supply, pretty average
• Sales have slowed this month, another 2% drop anticipated before end of summer
• Bank foreclosures still lead the “good deal” market and will be through 2010

Closed sales were up through April significantly reducing the amount of homes for sale around Portland. Our Lake Oswego office in particular saw about the same number of sales this year as last. With about 70 agents in the office it’s a good gauge of what’s happening overall in Portland.

Website traffic remains constant to this site but the number of inquiries generated has dropped which tends to be a forecast of slowdown in sales. This same thing happened in November 2009… Wonder if it’s a pattern but too early to tell just yet.

Lockbox activity according to RMLS has dropped by comparison to last year and over the last 2 months. A reflection of no more first-time buyers going for the tax credit? Not necessarily. The number of buyers pulled into the marketplace because of this tax incentive was not as great as everyone believed. The $6500 credit for current owners to move did nothing as far as I could see. People were either purchasing or not, $6500 didn’t matter to them.

Money is still cheap with interest rates hovering around 5% and FHA remains quite attractive, more so than ever actually. 2010 will continue to be a great year overall for real estate investment.

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.

To search for your home in anywhere in the Metro Portland area, use our FREE Exclusive Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? We can help. Click here.

Dave’s Commentary on the Portland Real Estate Market:

• Available inventory is at 12.9 month’s supply, well above average
• Prices have stabilized on entry level pricing for regular resale houses
• Bank foreclosures still lead the “good deal” market and will be through spring

It was mentioned back in December than Portland’s housing market had hit bottom, now numbers are beginning to reflect than.  Home buyers willing to make the first-time buyer move will see great return on investment given a few years.  While Portland, Beaverton, Hillsboro, and surrounding area homes for sale have seen entry level pricing firm up, luxury home sales are still hurting.  Prices around $2ook are in demand as buyers scrimp competitively to get the good deals.  Want to sell?  Price it right.  Buyers are there.

Luxury homes in Lake Oswego, West Linn and other locations where prices lead overall stats are still feeling the pinch.  Market times for these properties are around 153 days on average.  With economic improvement homes for sale in the $500k+ category will pick up.  Summer’s coming and so are the movers.  Expect increased sale volume but also increased home listings.  New construction will not play a big part in 2010.  Inventory needs to be bought up.  Now is the time for purchasing!

Multi-family sales around the Portland metro area also finally seening some activity.  2009 was not the year to unload property for financial gain, that’s for sure.  Sales were very stagnant.  In the last month or two plex sales have began to show signs of improvement.  Investors are gaining confidence in real estate again and rents have stabilized.  Portland’s rent rates followed real estate sales as tenants buckled down and did more conservative moves to save money.  Vacancies are back around 6% again now.  Don’t try and gain top rental dollar for an investment unit, vacancy is not worth the lost income!

Go buy real estate in Portland, that’s the bottom line.  Does anyone honestly think this is a bad time to purchase?  Look at prices and interest rates.  You tell me…

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.

To search for your home in anywhere in the Metro Portland area, use our FREE Exclusive Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? We can help. Click here.

Metro Portland Area

Avg Price Avg Mkt Days Avg Appreciation North Portland $234500 113 -5.1% NE Portland $297100 107 -3.0% SE Portland $240800 127 -6.2% Gresham / Troutdale $228200 167 -9.1% Milwaukie / Clackamas $296300 185 -8.2% Oregon City / Canby $299800 147 -9.0% Lake Oswego / West Linn $484400 178 -9.1% West Portland $446000 135 -2.6% NW Portland / Washington County $363000 126 -5.8% Beaverton / Aloha $249000 145 -6.6% Tigard / Wilsonville $320700 158 -8.0% Hillsboro / Forest Grove $245500 165 -9.6%

Data: June 8, 2009

Source: RMLS Area Report Metro Portland & Adjacent Regions

Dave’s Commentary on the Portland Real Estate Market:

RMLS numbers reflect a reduction in Portland’s housing inventory. We’re down to an 11 month supply for April’s final figures. This is a good sign that the market is starting to improve. Typically the amount of homes for sale rises in spring as do the number of closed sales. A reduction in overall inventory means that buyers are purchasing at a faster rate than homes are being listed for sale.

Working with buyers provides me an opportunity to interact with listing agents when out showing homes. I always ask other agents what their offices are seeing and what that person’s take on the market is. Lately it’s all been the same. Business is up!

Comments vary across the range of course but the majority of agents I’ve spoken with are raving about the amount of buyers they’re currently working with. While May’s inventory numbers are not out yet it’s exciting to anticipate. My guess is that it’ll be down even more, showing more market improvement.

RMLS data shows dwindling appreciation figures so keep in mind that these are a reflection of activity 3 -6 month’s ago. Forecasts are still fairly abundant that late 3rd quarter/early 4th will show we’ve reached a plateau. By the time the media starts reporting on such buyers will start seeing sellers being less desperate.

Dave’s prediction; We’re getting very close to bottoming out or may have already done so. Buyers closing in 2009 will reap huge benefits 5 years from now. Fence sitters need to make their move.

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.

To search for your home anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Portland Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? Let us help with your Portland Relocation.

Metro Portland Area

Avg Price Avg Mkt Days Avg Appreciation North Portland $234500 113 -5.1% NE Portland $297100 107 -3.0% SE Portland $240800 127 -6.2% Gresham / Troutdale $228200 167 -9.1% Milwaukie / Clackamas $296300 185 -8.2% Oregon City / Canby $299800 147 -9.0% Lake Oswego / West Linn $484400 178 -9.1% West Portland $446000 135 -2.6% NW Portland / Washington County $363000 126 -5.8% Beaverton / Aloha $249000 145 -6.6% Tigard / Wilsonville $320700 158 -8.0% Hillsboro / Forest Grove $245500 165 -9.6%

Data: June 8, 2009

Source: RMLS Area Report Metro Portland & Adjacent Regions

Dave’s Commentary on the Portland Real Estate Market:

RMLS numbers reflect a reduction in Portland’s housing inventory. We’re down to an 11 month supply for April’s final figures. This is a good sign that the market is starting to improve. Typically the amount of homes for sale rises in spring as do the number of closed sales. A reduction in overall inventory means that buyers are purchasing at a faster rate than homes are being listed for sale.

Working with buyers provides me an opportunity to interact with listing agents when out showing homes. I always ask other agents what their offices are seeing and what that person’s take on the market is. Lately it’s all been the same. Business is up!

Comments vary across the range of course but the majority of agents I’ve spoken with are raving about the amount of buyers they’re currently working with. While May’s inventory numbers are not out yet it’s exciting to anticipate. My guess is that it’ll be down even more, showing more market improvement.

RMLS data shows dwindling appreciation figures so keep in mind that these are a reflection of activity 3 -6 month’s ago. Forecasts are still fairly abundant that late 3rd quarter/early 4th will show we’ve reached a plateau. By the time the media starts reporting on such buyers will start seeing sellers being less desperate.

Dave’s prediction; We’re getting very close to bottoming out or may have already done so. Buyers closing in 2009 will reap huge benefits 5 years from now. Fence sitters need to make their move.

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.

To search for your home anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Portland Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? Let us help with your Portland Relocation.

Call us at 503-789-7633 (cell) or email us to see how we can help you with your home buying and selling needs.

Metro Portland Area

Avg Price Avg Mkt Days Avg Appreciation North Portland $232000 114 -2.0% NE Portland $296000 130 -2.0% SE Portland $239000 149 -5.1% Gresham / Troutdale $225000 144 -8.0% Milwaukie / Clackamas $292200 137 -7.3% Oregon City / Canby $287000 171 -5.5% Lake Oswego / West Linn $491500 141 -7.9% West Portland $522900 179 -1.7% NW Portland / Washington County $383000 163 -4.1% Beaverton / Aloha $255000 145 -5.0% Tigard / Wilsonville $322300 226 -6.9% Hillsboro / Forest Grove $246700 162 -8.2%

Data: April 21, 2009

Source: RMLS Area Report Metro Portland & Adjacent Regions

Dave’s Commentary on the Portland Real Estate Market:

Inventory has significantly dropped and at a faster pace than over last two years given the same time period. What does this mean? It means that buyers are seeing the light and taking advantage of short sale and foreclosure home deals. As supply of available homes for sale decreases our market improves. Keep in mind that a balanced amount of listed home favors neither the buyer nor seller at 6 months, we’re currently at 12. That number is way down from January’s record 19!

What we’re experiencing is no movement in secondary price levels, those above $250k or so. The reason our market is slow for anything over $250k is that first time buyers are displacing sellers who are in tough times. Normally these folks would move up in price to a new home, pushing the higher end. Entry level home sellers who overextended finances are now renters. Working through this inventory is again, a sign of market recovery.

First time buyers are looking to convert from renters into owners and take advantage of the federal tax credit of $8000. This money is available to most who close a home before December 1st 2009 and who have not owned in the last 3 yrs.

Sellers in the $400k+ price ranges need to be super agressive on pricing. Look at comparable sales within the last 6 months and subtract 10%. I’m not joking… you’ll move your house and make it up on the purchase!!

The bottom line: If your job is secure take advantage of this situation. Correction to our values was required and 2009 is the year for it. Money is made in real estate on the purchase… not the sale.

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.

To search for your home anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Portland Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? Let us help with your Portland Relocation.

Call us at 503-789-7633 (cell) or email us to see how we can help you with your Portland home buying and selling needs.

Metro Portland Area

Avg Price Avg Mkt Days Avg Appreciation North Portland $232000 114 -2.0% NE Portland $296000 130 -2.0% SE Portland $239000 149 -5.1% Gresham / Troutdale $225000 144 -8.0% Milwaukie / Clackamas $292200 137 -7.3% Oregon City / Canby $287000 171 -5.5% Lake Oswego / West Linn $491500 141 -7.9% West Portland $522900 179 -1.7% NW Portland / Washington County $383000 163 -4.1% Beaverton / Aloha $255000 145 -5.0% Tigard / Wilsonville $322300 226 -6.9% Hillsboro / Forest Grove $246700 162 -8.2%

Data: March 20, 2009

Source: RMLS Area Report Metro Portland & Adjacent Regions

Dave’s Commentary on the Portland Real Estate Market:

Portland’s housing inventory is down from January’s record number to 16.6 month’s worth of supply. At the current rate of purchase it’ll take this long to buy up all homes for sale, if no others houses were to list in RMLS. This number is important because it’s a gage on our housing market.

If playing field was level between buyers and sellers there’d be a 6 month supply. Scales are heavily favoring buyers currently. Projections for growth in the Portland metro area are still optimistic. New industry has capitalized on Hillsboro’s industrial locations. The South Waterfront is still projected to grow immensely in coming years and condos for sale in the area are plentiful. Also, 3 luxury apartment buildings are being constructed at the moment.

Interest rates today are pushing 4.5%. Wow! Investors need to look at this opportunity as rare in the overall picture of real estate. Cash flow on investment properties has not been this good for the last 10yrs at least! While the rental market has softened a bit there’s money to be made. Hold out for a couple of years and watch what happens with house prices. People will look back at the summer of 2009 as an excellent time to get into real estate.

Sales picked up in February and the number of new listings decreased by comparison to 2008. This is good for market correction. Activity picks up as we head towards spring and number of days on market will improve historically. Look for opportunities to capitalize on Portland’s real estate situation. This is the year of the BUYER!!

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.

To search for your home anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Portland Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? Let us help with your Portland Relocation.

Call us at 503-789-7633 (cell) or email us to see how we can help you with your Portland home buying and selling needs.

Metro Portland Area

Avg Price Avg Mkt Days Avg Appreciation North Portland $248300 88 -1.2% NE Portland $299800 129 -1.2% SE Portland $238800 142 -5.9% Gresham / Troutdale $218300 184 -8.3% Milwaukie / Clackamas $293900 140 -7.3% Oregon City / Canby $284500 145 -5.5% Lake Oswego / West Linn $499500 195 -7.2% West Portland $428200 208 -1.3% NW Portland / Washington County $401400 134 -4.7% Beaverton / Aloha $264900 138 -5.2% Tigard / Wilsonville $310400 181 -7.7% Hillsboro / Forest Grove $246400 121 -7.7%

Data: March 20, 2009

Source: RMLS Area Report Metro Portland & Adjacent Regions

Dave’s Commentary on the Portland Real Estate Market:

Portland’s housing inventory is down 14% from January. Couple the recipe of incredible selection and low interest rates and you’ve got a mix for historical buying opportunity. Question is, how quickly will buyers take advantage of the situation?

Although the number of homes available for sale is not at record numbers, pace of closings is slower than in years past and that’s what created the 19.2 month number. While this is a record high we need to put it inperspective.

Consider that historically every January inventory levels jump significantly. Last years numbers were up 33% over December 2007. 2009 numbers are up only 27%. Consider also that sales last month hit a new low and this means that it’ll take time to burn through our inventory. Nationally sales were up in December and Portland lags behind on U.S. trends.

First time buyers got a big boost from the $8000 tax credit, a welcome move by most. This should help push first-time buyers out of the rental market and into homes. Rental prices have softened with the economy somewhat but that $1200 rent payment easily translates into a $1400 house payment. Renters with stable jobs are going to see HUGE rewards by taking advantage of the situation.

Recent articles on Forbes.com list Portland in the top ten best long-term housing bets. We were also number 5 for move destinations according to a recent study by Relocation.com. Articles like this are overshadowed by negative news these days but buyers and investors who see through the hype are going to fare well overall!

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.

To search for your home anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Portland Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? Let us help with your Portland Relocation.

Metro Portland Area

Avg Price Avg Mkt Days Avg Appreciation North Portland $232100 132 -0.7% NE Portland $320000 109 -0.4% SE Portland $276100 108 -3.3% Gresham / Troutdale $258700 145 -8.2% Milwaukie / Clackamas $318400 125 -4.6% Oregon City / Canby $313500 169 -5.0% Lake Oswego / West Linn $541600 209 -4.5% West Portland $478500 172 1.9% NW Portland / Washington County $404800 117 -3.4% Beaverton / Aloha $273800 121 -4.4% Tigard / Wilsonville $323000 162 -5.9% Hillsboro / Forest Grove $255000 127 -6.7%

Data: January 21, 2009

Source: RMLS Area Report Metro Portland & Adjacent Regions

Dave’s Commentary on the Portland Real Estate Market:

Portland is still lagging behind on foreclosure rates and market decline based upon national numbers. Keep in mind that current published rates of sale and prices are a reflection of 3 months earlier. As the season pushes towards spring buyers are emerging and will continue to do so, absorbing inventory. Good news for anxious sellers.

First-time home buyers are seeing the advantage of owning over renting with rates so low. It’s quite possible to get a house now with payments very close to rents. The $7500 tax credit stimulous seems to be brought up on a regular basis with buyers.

The metro area rental market is softening with rents plateauing after several quarters of dramatic increase. As unemployment numbers continue to grow we’ll see vacancies potentially increase slightly due to people doubling up and wallets tightening. Rents will not go down any time soon however.

Interest rates are bouncing around 5%, dipping into the 4’s. Some forecasts predict low 4’s within the next 60 days. As the feds buy mortgage backed securities on a steady basis rates potentially lower.

Get out there and look for that fantastic deal on a bank owned property while the opportunity is good. From an investor’s standpoint this is a dream market. With a bit of searching you’ll come up with a winning combination of finance and purchase price to beat any deal in recent history!

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.

To search for your home anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Portland Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? Let us help with your Portland Relocation.

Call us at 503-789-7633 (cell) or email us to see how we can help you with your Portland home buying and selling needs.

Metro Portland Area

Avg Price Avg Mkt Days Avg Appreciation North Portland $266100 120 0.1% NE Portland $322000 98 0.5% SE Portland $276800 109 -3.1% Gresham / Troutdale $260700 128 -6.4% Milwaukie / Clackamas $322200 155 -4.6% Oregon City / Canby $316300 172 -5.6% Lake Oswego / West Linn $543300 182 0.4% West Portland $480700 145 4.2% NW Portland / Washington County $404900 152 -1.7% Beaverton / Aloha $274900 155 -4.8% Tigard / Wilsonville $354200 144 -4.8% Hillsboro / Forest Grove $280300 124 -5.9%

Data: December 18, 2008

Source: RMLS Area Report Metro Portland & Adjacent Regions

Dave’s Commentary on the Portland Real Estate Market:

Portland’s real estate has seen a dramatic change over the last few months. RMLS numbers now reflect a 15 month supply of available homes for sale throughout the metro area. Sellers are averaging 135 days to get their homes sold. Buyers are loving this!

Sellers who are not upside down in their house have a tough battle, competing against neighboring short sales and a relatively small percentage of foreclosures. Entry priced homes are commonly selling short of what’s owed and this affect trickles uphill into higher end properties. Luxury homes in areas like Lake Oswego are deeply discounted and not immune to similar circumstances. Bank owned properties can be picked up cheap!

What does this mean for the average homeowner in Portland? Don’t sell unless it’s absolutely necessary. If you do have to sell price it 5% lower than the competition and it’ll move. Currently homes are selling at a rate of about 40 per day. Sellers must be aggressive!

Buyers are able to reap benefits of today’s incredibly low interest rates. FHA borrowers can get a historical low of 4.5%. Conventional mortgage rates are the same as of this writing. If loan-to-value (LTV) is 60% or less it’s possible to lock in 4.375%. Wow!!

Interestingly enough guidelines have changed for investors. Fannie and Freddie underwriting requirements only allow a total of 4 mortgages, 3 investments. Makes it tougher for those who would love to take advantage of the buyer’s market and already own several properties. Good news is that there’s no shortage of Portland investment property with upside potential and cash flow is better than ever.

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.

To search for your home in anywhere in the Metro Portland area, use our FREE Portland Home Search tool. For more information about living in Portland and finding your dream home, call Dave at (503) 789-7633, Toll Free (877) 629-5825 or email.

Learn about our Exclusive VIP Buyer Services. Contact Dave now. Make informed decisions; make smart choices. Call Dave now at (503) 789-7633 or Toll Free (877) 629-5825 ext. 7.

Relocating to Portland, Oregon? Let us help with your Portland Relocation.