The days of ridiculous Portland real estate appreciation cranking out 15+ percent annually are long gone. Changes in perception of our national economy have converted the market place into a strong buyers market. Projections for the rest of 2008 remain in the buyer's favor. Third quarter sale prices are pushing back to those of 2005. Watch the appreciation rate for your favorite area but keep in mind that numbers quoted by RMLS and statistics are actually a reflection of what happened 3 - 6 months ago. Past performance does not guarantee future results, right? Factor in a "market adjustment."

Market adjustment compensation should be used when the scales are tipped one way or another. Houses for sale in the Portland and Lake Oswego area tilted towards the buyer quite a bit. RMLS (Regional Multiple Listing Service) estimates whether it's a buyer's or seller's market based upon the inventory of houses for sale at any given time. Numbers for summer 2008 have been running around 9+ months worth. A balanced market is 6 months. Investors, or speculators, were jumping on purchases in the downtown Portland condo scene and elsewhere without hesitation in 2005, ramping up the demand and shortening supply. Numbers then dipped to a record 1.9 months worth of inventory. A hot hot seller's market!

Where did all the buyers go? A sluggish economy mixed with an election year makes for timid investors. Many are sitting on the fence but more adventurous souls are taking the plunge and reaping significant reductions in price compared to market peaks. Realizing that Portland Oregon's metro area is projected to double within the next 20 years or so makes purchasing real estate a fairly safe investment. Another huge plus is that rental rates are ramping up. They work inversely of sales, right? Expect to see another 10% increase in 2009. Talk to us before you shop to maximize your gain.

On commercial real estate, the Portland retail sector continues to boom as a result of population growth and the surge of new neighborhoods all over the Portland Metro area. Opportunities lie across the various Portland areas from Northeast Portland to Hillsboro. Call us to talk about your investment objectives and to understand the Portland market trends.

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