The Market Is Its Own Animal

This market will be very difficult to surf. Unfortunately current real estate trends are always a guess. We are always months behind what has happened. Most agents that I talk to agree that in June 2006 the market radically changed. But we didn't know it.

Each agent has their own sales cycle. An individual agent that is busy does not show the pulse of the market. I randomly get referrals and will have a busy month. I have a couple of listings that I think are well priced and are getting a few showings. Then I listed a home for $700,000 and it sold in a week and a half. The market is difficult to pinpoint and describe accurately.

I have talked to so many sellers that said they had a low offer in May or June. They wouldn't accept it and then 2 months later offers were even below the previously rejected offer.

I have read some of the most depressing real estate articles in the last 2 weeks. I don't like to be a doom and gloom guy but I don't want people to be blindly walking into real estate.

All of the experts have said for the last 5 years that interest rates are going up. They didn't really. The fed raised rates about 4%. Consumer interest rates have only gone up by about 1%. So no one can truly tell you about this market with great authority but it looks like it will be a buyer's market for the next year or two.

If you are buying to stay in a house for 4-5 years I would buy this winter. Portland is still the cheapest market on the west coast and that will help us stay afloat as long as our economy stay good. Below are some articles of interest.

Best time to buy in a decade.

Existing home sales drop in 41 states.

How bad will the 2007 housing market be?