Portland Oregon Housing Prices

So what about Portland Oregon’s housing market these days? Well the lenders have tightened up their guidelines….none of those zero down loans and poor credit risk borrowers. But for those with decent credit and especially those who’ve owned their home long enough to gain some established (not speculative) equity, these people are looking good.

Asking prices are going down a bit….no more of those sky’s-the-limit speculations on pricing. Wages somewhat set the limits for what the average homebuyer can afford. But compared to other parts of the country, we are looking good in Portland...as recent statistics reported in the national news. Values are still pretty darn good if you’ve been in your house a while…..just think about the equity gained in the past 5 years….would you have imagined that gain 5 years ago?

And the good news is there are some bargains to be had in move-up housing. Many of those country homes are really coming down in price. There will always be some sellers who must sell, job transfers, people downsizing either the house or their debt load. So if you’d really like a bigger (or smaller) home…or a new area….NOW is a great time to make the move.

I’m telling buyers to not hesitate to offer less than asking prices on properties that have been lingering on the market….properties that a Comparative Market Analysis indicate are overpriced for the current market.

AND there are some great investment/starter/rental homes available for well under $200,000….you couldn’t find a home under $200K two years ago.