Oregon Real Estate is still looking like a sound investment. The days of high teens appreciation may be gone but experts quoted in today’s Oregonian still see 5%-8% appreciation in 2007. That means the $300,000 house you look at today could cost between $315,000-$324,000 this time next year. There is more concern regarding the condo market as there are about 16,000 units coming available in the next few years.
Winter months are good for real estate. Both buyers and sellers are more motivated. A home’s landscaping in the winter can never look like it does in May (if you have no intention of doing landscaping before listing you home, list in the winter). It’s harder to make a house shine. Sellers are selling for a reason. Buyers have to want to look at homes in less than ideal conditions.
With a recent client on a particularly nasty night, we looked at a home that was about 45 degrees inside because it was vacant. It was dark and really stormy. Not exactly prime home viewing conditions. We had to go back to another home twice. The first time we saw it in the dark and then again in the daylight. They’ve got an accepted offer on that home.
We’re typically slower during the winter months but in the last couple of weeks, we’ve picked up and though our clients may not be looking or selling today, they are making plans for the New Year. Investors that know year in year out that they need to buy investment property renew that resolution each year. Taking the first step, buying that first investment property, is always the hardest.
We’re looking forward to next year. Doing what we do now better and introducing new tools and programs to enhance the real estate transaction.