Aug
13
2008
RMLS July Market Action
By Charles Turner
RMLS Market Action reports that our market is pretty static and didn’t really include any surprises, good or bad. Average sales price is down 3.5% compared to July 2007 and activity remains way off last year’s numbers. We can’t say that we’ve reached bottom as we continue to trend in a downwards direction. Don’t ask how I ended up thumbing through Oprah’s O Magazine this morning but according to Suzie Orman, if you can afford the down payment and monthly payment, now is a good time to buy. Comment all you want on her statement, not the fact that I happened upon it!
It is a great time to buy if you can. We are happy with our recent home purchase and the mortgage payment is very manageable for us… Still can take those trips to Disneyland and eat out a few times a week.
After reading elsewhere in the blogsphere it appears that I should have been more direct about my opinion of Suzie Orman’s “buy now” comment. Regular readers know that I have long been saying that real estate is both personal and local. Your buy now may be an other’s worst plan.
I don’t think national magazines, real estate companies or others should preach “buy now,” especially in this market. There are some great opportunities. There are some opportunities that may get even better. There are some oppertunities that will never be a good idea.
The same here, B&W! I just bought a 5 BR spread in Happy Valley and I couldn’t be happier!
Hey! I close on a John Ross condo tomorrow! It’s a steal at $400K for 500 SF! And it has a view of the parking garage!
How could we all have been so wrong?
I just bought in Lents! We are at the bottom. Buy now and your home appreciate 200% in a few years. Its instant wealth!
Naysayer,Clint very funny!
>>There are some great opportunities. There are some opportunities that may get even better. There are some oppertunities that will never be a good idea.
Charles, looks like you are were being politically correct to an extent that it is difficult to get any value out of your comment. What you said is true for any market; what was your point?
Naysayer,Clint very funny!
>>There are some great opportunities. There are some opportunities that may get even better. There are some oppertunities that will never be a good idea.
Charles, looks like you are were being politically correct to an extent that it is difficult to get any value out of your comment. What you said is true for any market; what was your point?
PDX will bottom in the third quarter of 2011; prices have 20 percent more to sink (across all PDX ‘hoods). It’ll be a slow drip. Between 2011-2025 housing will track the rate of inflation (which will hit double digits between 2009-2019). In 2026 housing in the Portland area will once again be a good investment. Have patience.