We had previously predicted that our market will retreat 20-25% from the peak on 2Q 2007.  By the end of January, the median price in our market is down 16%.  The leading indicators (total housing inventory, inventory of bank-owned and short sale properties, and vacant inventory) do not yet suggest we’re approaching the bottom in [...]

The bounce in mortgage interest rates came sooner than expected.  PMI announced April 1st an increase of approximately 1% on mortgage interest rates.  For the prospective homeowner prepared to make a loan payment of $2,000/mo., borrowing power just dropped by $40,000.
At a 4.875% interest rate, a $2,000/mo payment will service a 30 year fixed loan [...]

The Portland real estate market is starting to pick up and the new Banner Bank program is playing their part to stimulate sales. This program is for new construction, where Banner Bank holds the loan with the builder. For the buyer, you would find the new home on the list and then get [...]

If you have been thinking about buying a home in Portland, now is the time to buy smart. Portland real estate prices are down - about 20% off the peak high in 2007. A number of factors have caused this retreat, specifically the national financial crisis. Compared to the rest of the major metros across the nation, Portland has fared better and is now starting to fall back into the affordable zone.

As Portland real estate prices have dropped from our peak highs in 2007, buying a home is now becoming more affordable. There are many advantages to buying a home versus renting one. Your income, savings, and monthly expenses play a big part in how big of a mortgage you can afford.

As part of the federal stimulus package signed by President Obama, first time home buyers could get a tax credit of up to $8,000. The tax credit gives those home buyers who qualify, cash in their pocket today and best of all it doesn’t have to be paid back.

The US Senate approved an amendment today that will allow all home buyers to get a tax credit of up to $15,000 for the purchase of a home.  This $15000 tax credit can be applied to your 2008 income tax returns.
The home buyer tax credit amount is 10% of the purchase price, up to a [...]

It’s a great time to be a home buyer in the Portland real estate market.  Even better if you are a first time home buyer, as the federal government is offer a $7500 tax credit.  It’s called a tax credit, but it actually works more like an interest free loan if you buy a home [...]

If you’re up for a little chuckle, check out this beer ad. The setting is a party where new homeowners are showing their new home to their friends. The wife can’t wait to show her friends the absolutely fabulous shoe closet …. cut to the husband showing his friends the equally unique [...]

Financial talk show host Jim Cramer talks about the recent Fed rate cuts and buying real estate

Do you agree with Jim Cramer? Rates are low and the Portland real estate market is down with lots of homes to choose from. How much lower can rates go?