Real Estate Resource

So, our real estate market is an endless source of fascination, isn’t it???!!!  What is going on in the Portland area real estate market anyway?  You pick up the paper and, then, look up because you’re certain the “sky if falling”.  Is the change in our local market a “downturn” or a “correction” (this is a trick “half full/half empty” question).  Downturn is so much more sensational, but is it an accurate depiction of our marketplace?  I started selling real estate in 1985 when interest rates were 12-13%….ouch!  So, I’ve seen a variety of markets in “my time”!  I’m constantly asked are housing prices dropping??  And, of course, I’m full of opinions.  The answer (aka:  my opinion) is not simple.  There is definitely a perceived loss of equity.  The answer is conditioned on exactly when you bought & how much you may have thought your equity had appreciated “on paper”.  Some people absolutely got caught in the “vortex”.  Some who bought towards the end of the local frenzy and who wanted to quickly turn the properties, may find themselves temporarily in the “red”.  The condo market is definitely struggling, as record inventories of condos & townhomes hit the market.  I own 3 condos and do I think I could sell for the same as 1-2 years ago?  The answer is absolutely not!  But, have I lost money?  The answer is only on paper!  The Pearl District has gone from sellers holding lotteries to handle the number of buyers to sellers offering incentives to entice those buyers.  We are back to over 8 months of inventory, which, by the way, would’ve been the average for many years of  my illustrious career.  Isn’t the idiom “buy low, sell high”?  Wouldn’t that make this the perfect climate for your next real estate investment?  I am definitely not discounting those that were trapped by unsavory loan officers and are now struggling with inappropriate loans for their income level.  Those were dispicable practices sanctioned by a minority of professionals in the lending industry.  I just finished reading an “oldie but goodie”:  “Creating Wealth” by Robt G Allen.  Some of his tax laws are outdated, he mentions price points in real estate we could only wish still existed and the eyeglasses he wears in his PR photo should have him arrested!  However the basic concepts in the book are priceless!!  Real Estate is one of the anchors to creating wealth!  Real estate offers a combination of solid (not instant) appreciation, the fabulous tax benefits and other associated strategies that you can combine to protect your money!!  You can argue with me if you want, but I truly believe it’s the kingpin to any long-range financial planning (and not just because I sell it for a living)  jj

Similar Posts:

• IS IT ALWAYS A GOOD TIME TO BUY???
• WHAT TO DO IF YOUR MORTGAGE IS ADJUSTING!
• The Long View of Real Estate Investing….
• How Does Portland Compare????
• CHALLENGES & OPPORTUNITIES IN OUR PRESENT REAL ESTATE MARKET!

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