does anybody who lives in the portland area beleive they know where prices of property are going to go in the next six to nine months, up, down, stay the same, go up a litttle, go down a little?
2006-09-01 18:22:15 · 5 answers · asked by the d 6 in Business & Finance ➔ Renting & Real Estate
NATIONAL ASSOCIATION OF REALTORS
http://www.realtor.org//PublicAffairsWeb.nsf/Pages/PHSIJuly06?OpenDocument
http://housingpanic.blogspot.com/
2006-09-01 18:26:23 · answer #1 · answered by BrokenRomeo 5 · 0⤊ 0⤋
National housing market continues to slump. I did hear Seattle is doing well.
Compare your local housing price with rent. If mortgage payment is similar to rent, it is probably a good time to buy.
In SF Bay Area, I remember 3 years ago that mortgage payment of a unit that I liked was $2500 while rent was about $2000. The market took off. Right now, a $500,000 condo with 0% down and apply interests only loan (just like renting a place). Mortgage payment would be $3250/month. It is a bad buy, because you can enjoy same property for $2000/month.
Good luck!
2006-09-02 04:59:24 · answer #2 · answered by Price is what you pay for value. 3 · 0⤊ 0⤋
I heard last night Portland is doing pretty good now, one of the best in the west in fact. To predict what will happen in the next 6 months I'd need a crystal ball...no one can predict that. It depends on jobs available in the area, what hold the housing market in that area, etc. Many factors. Contact David Rochester, a realtor in Portland, he'd know what is happening in certain areas surrounding Portland.
2006-09-02 01:26:29 · answer #3 · answered by MadforMAC 7 · 0⤊ 0⤋
Keep in mind...........
Times and markets are changing!
In California with average homes selling well over $500,000, a 20% decline is $100,000! In any market 'timing is everything'! So, could you afford a loss of 25% of your investment all because of poor timing???
This last up cycle was 10 years in many parts of the country. The downcycle now started in CA, Wash DC, NYC, Vegas and other hot areas of the past are all soft and getting softer.
From 1990 to 1996, the average home in San Diego lost 20% of its' value! The cycle we are now enterng looks like it could well exceed that on the downside!
With all the 100% financing, interest only loans, EZ qualifing etc...even a slight decline will cause many to be unable to sell for the amount due on their loans!
For some great 'insider' articles on the San Diego real estate market, which I believe will apply to any of the hot real estate markets of the past five years.....visit:
http://www.brokerforyou.com/brokerforyou
http://www.downtown-san-diego-real-estate.com/san-diego-real-estate-article-index.htm
http://www.brokerforyou.com
http://www.san-diego-for-sale-by-owner.com
http://www.la-jolla-ca-del-mar-san-diego-real-estate-encinitas-california.us
http://www.brokerforyou.com/blogger/index.html
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://san-diego-coastal-real-estate.blogspot.com
http://sandiegofsbo.blogspot.com
http://downtown-san-diego-real-estate-views.blogspot.com
http://www.brokerforyou.com/san-diego-real-estate-sales.html
http://www.poway-real-estate.info
http://www.del-mar-real-estate.info
http://www.la-jolla-real-estate.info
http://www.los-angeles-real-estate-brokers.com
http://www.san-jose-real-estate-brokers.com
http://www.orange-county-real-estate-brokers.com
http://www.san-francisco-real-estate-brokers.com
http://www.sacramento-real-estate-broker.com
2006-09-02 12:37:47 · answer #4 · answered by Anonymous · 0⤊ 0⤋
down big time
http://www.breakingbubble.com/index.htm
2006-09-02 03:40:11 · answer #5 · answered by Anonymous · 0⤊ 0⤋