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Competition heats up in Beaverton for the under $150,000 homes

Competition is heating up in Beaverton for the under $150,000 homes. More and more renters are getting their new lease agreements and realizing that their landlords are raising their rent. Combine that with the prices still dropping in Beaverton and you have more and more people seeing that they can get more home for the same money if they buy.

There is only one problem! When you have more buyers than sellers you get the traditional supply and demand model where prices start to rise. But, this time there was something that the normal supply and demand model doesn’t account for. That is buyers that aren’t willing to pay more than what they offer or what is being offered.
In 2008 when a good deal came on the market a home would get an offer in one day from 4 or 5 buyers, they would compete for that home by escalating their offer until they got their home. This caused prices to go up. Fast forward to today where a good deal comes on the market and on the first day 4 or 5 offers come in and instead of escalating the price you may actually get all ... more

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