Opportunity Knocks

I mentioned in my post on Friday that the report for US existing home sales came in higher than expected at a gain of 5.5% over 2007. The number is encouraging considering the current state of the economy. According to Willamette Valley MLS, local home sales prices are showing a small decrease of 2.5% from 2007. With a gain in home sales and a small decrease in value, the numbers show that people are beginning to take advantage of the opportunity at hand.

With the financial markets trying to find some direction and the government's intervention into those markets, we have obviously entered into an economically unstable time. Although times like these make it easy to point out the obstacles for each of us, I think it is more important to find the opportunities.

We are fortunate to live in the Willamette Valley where home sales didn't appreciate at too abnormal of a pace. We are still greatly affected by the downturn of the real estate and mortgage market, but the recovery will be much less painful than those in areas where values were ridiculously abnormal. Opportunity is knocking for first time home buyers or those looking to start an investment portfolio. Although, it is not the best time to think about upgrading your home (simply because you won't maximize your investment on your current residence), it has never been a better time to buy your first home or investment property.

Many have the excuse that financing is not available, however, that can be overcome with education and planning by a knowledgeable resource. With a plethora of homes currently on the market in the Willamette Valley, values are competitive and sellers are motivated. New construction is also an area of opportunity. Many large builders in the Salem area put their efforts into 50+ unit subdivisions. Unfortunately, much of the commercial financing used for construction is longer available. Builders too are motivated, making yet another opportunity for someone looking to purchase. '

If you want to discuss opportunities that may be at your finger tips please don't hesitate to call or email conrad@conradventi.com. Don't forget that opportunities are never lost…someone will take the ones you miss!