It appears as if the mortgage market woes and the effects that they are having just does not seem to want to go away. Even though it truly does effect only a small part of the market and there are many real estate markets that are doing quite well, the story is just too good to die.
It's the Story that Devoured Cleveland!
Recent reports I have read on the blogs and have heard on the various talk shows points to the potential for a strong 4th quarter and or 2008 1st quarter for the housing industry. Several factors point to this.
- Number of housing units typically sold compared to those that have sold. ( Pent up Demand )
- Restructuring of Investment loans with out all of the dangers associated past loans ( good money to be made for investors they want to return )
- A potential for a sound drop in the Interest rates and more government intervention.
In the early to mid 1990's we seen the same thing with a stall in the market what we all called " Normal ". That flat stall for 24 or so months built up a back log of pent up demand so large that it threatened to Devour us all.
I ask you are there any signs you see in your market pointing to these factors. Or is it all just Doom and Gloom for you? Can you see any glimmer of light at the end of the tunnel?
In Portland the Market marches on with a slightly less that 10% increase in the last 12 months. Listing Inventory is however soaring and Pending Sales continue to fall. None the less in many parts of our city there is competitive bidding on fair price properties.
Don't let that bargain pass you by Let_Your_Next_Home_Fnd_You! Looking for that home in Downtown Portland has never been easier!
RE/MAX Broker Herb Hamilton Presents :
www.portlandrealproperty.com Where Buyer's and Seller's come for More Portland Oregon Information and a MLS Search.
" A Real Estate Transaction with Herb is one You will Profit from "
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