This is purely anecdotal based on what we are seeing at the end of the year. Almost on cue to what we saw last year, there was a definite upswing in activity with our clients last week. One of our longer days on market listings went pending over the weekend with multiple offers. We’ll close three more buyer-side transactions by year end (one closing today).
We’re preparing a few listing that will hit the market in January. They’re not ready to market yet but if someone asked today if they should list now or wait until after the New Year I’d say now if the property is ready. I think we’ll see a lot of new listings so getting out in front of those might be a good strategy. You won’t get an RMLS number starting with 8 but if you are accurately priced, you shouldn’t be sitting on the market!
The crystal ball is still a little cloudy on what ’08 will bring. I’ll take a snapshot of the poll results before the next Market Action comes out and we’ll see if feelings change. November’s should come out in the next day or so. I expect that we will see more closed transactions next year than this but appreciation will stay fairly flat. I was surprised to hear that right now, PMAR, the Portland Metropolitan Association of Realtors has an all time member high. I would have lost money on that one.
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. Almost on cue to what we saw last year, there was a definite upswing in activity with our clients last week.
Are these higher-end homes? The Let’s-buy-a-house for Christmas group would seem to be on the higher end of the scale (kind of like those ads you see on TV encouraging people to buy a Lexus/Benz/Porsche for Christmas – I don’t know anyone who actually does that, but then again, I don’t hang out in those heady circles, I guess).
I was surprised to hear that right now, PMAR, the Portland Metropolitan Association of Realtors has an all time member high.
Just curious: do you think that all the stories about how Portland and Seattle are the last markets to fall – or are supposedly still appreciating, if only slightly – have attracted realtors from other areas of the country hoping to come here (and to Seattle) in order to cash in? Are you seeing more new realtors from out of state?
It’s kind of like heading to higher ground as the flood waters rise…
I expect that we will see more closed transactions next year than this but appreciation will stay fairly flat.
I will hold you to that prediction, Charles.
I expect that we will see more closed transactions next year
se_renter: yeah, I wasn’t going to bring that up…
“but appreciation will stay fairly flat.”
I’ll put a pint on depreciation 😉
http://www.signonsandiego.com/news/business/20071217-9999-bn17prices.html
This is were Portland is going.
Do you really think PDX is more desirable than San Diego ?
Do you really think PDX is more desirable than San Diego ?
I guess I do or I would be living in San Diego.
I expect that we will see more closed transactions next year than this but appreciation will stay fairly flat.
I will hold you to that prediction, Charles.
Please do. I might be wrong. If I was right every time what fun would that be?
November report is out at repdx.com