Buyer’s coming back but wonder where the bottom is? Read This!!
December 17th, 2007 by dirkknudsenThey say we have to make room for 1 million new families and people by the year 2025. We have had a housing shortage for several years. This 6-8 month dip we have been in has brought some great flexibility to this market for the first time since 91-92. Several buyers were in the market in December all asking me…”when should we buy”. They want to buy but the news is just so negative. Well not if your watching. Sales are still ongoing and seller’s are playing with 1-3% of their sales prices to make deals. Underlying this is the continued increase in jobs and a vibrant business economy.
On the one hand we have perception fueled by the media and the gloom and doom. That has created a perception that the entire country is that way. But perception is almost always something different than reality. The reality is that Oregon is in High demand and the mix of tight urban growth boundaries and scarcity of subdivision is still there. There are jobs here. It is a good value and the livability is just the best.
The time to buy is just as the reality begins to change perception. The positive news starting to come out of the Oregon Economic development is just what the Doctor ordered. We are telling our buyers to shop hard and if the right deal is there and you are well employed than jump on it! Now is the time. The best buys will be made between the new year and the first of May.
The fed made some great moves in the past few days and this is adding some confidence back into this market. It is down but it is not staying down. Curious that we are having one of the busiest December’s we have ever had….. in 2007… the down year.
2008 is the year that people will look back and say “I got a great buy that year” or the converse of “We blew it…and should have bought in 2008 in Oregon”. I am not advocating crazy buying but these prices are good if you shop and I do not see that many buyers missing out on this next year. Shop and get the info and buy in early 2008. You can thank me in a year or two when the home is way up!
