Agent2Agent in Portland>Question Details

David Axness,  in Lake Oswego, OR

Fellow Realtors- are you seeing home buyers starting to get back into the market? In Portland, OR, I am seeing the market starting to pick up a bit.

Asked by David Axness, Lake Oswego, OR Thu Dec 9, 2010

Its kind of like watching a very large ship as it starts to turn- at first you can't tell but slowly you start to notice its moving slightly in a different direction. I think buyers are tired of waiting around, are seeing good deals and great interest rates, and are putting their toe in the water once again.

Dave at http://FearlessHomebuyer.com

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I am definitely seeing the Portland market picking up. This is normally the slowest time of year for me, but it seems that things are much busier than normal. Rates are phenomenal, and there are still a lot of great buying opportunities out there, so I think people are beginning to feel a sense of urgency.
Web Reference: http://www.homesbykaira.com
0 votes Thank Flag Link Mon Dec 20, 2010
That's too bad about your area, Cathy. We sure saw a decrease after the credit expired but buyers are getting more interested the last month or so. January always seems to be a good time for buyers making plans and starting off with a fresh attitude. There sure are good deals to be had out there and hopefully there will be a lot of parents telling adult children around the Christmas dinner table that they'd better take advantage of these historic rates before they're gone!
0 votes Thank Flag Link Mon Dec 13, 2010
Hi David,

Cathy again-

Here in Middlesex County, NJ we have seen a drastic decrease in buying interest and sales. The number of homes sold in November was almost 50% less than the number of homes sold same month (November) last year. This decrease started in July after the expiration of the tax credit.
0 votes Thank Flag Link Sun Dec 12, 2010
Many of the agents I've spoken to are having their best year ever saying that their average price is down but add that their volume is way up. They credit it to those leaving the business and an increase in marketing efforts.

Good Luck!
0 votes Thank Flag Link Sat Dec 11, 2010
So far so good - in my opinion. I've had a great fall and decent winter so far.
0 votes Thank Flag Link Sat Dec 11, 2010
I will be pulling the local stats later today and will get back to this trail-
0 votes Thank Flag Link Fri Dec 10, 2010
We are definitely seeing a small pickup in activity in Salem. We tend to mirror you guys in Portland and I've been chatting with several local agents and we are all getting more calls and showings.
0 votes Thank Flag Link Thu Dec 9, 2010
When rates are 5.5% and prices are up 5-10% how many buyers will be angry with us -
0 votes Thank Flag Link Thu Dec 9, 2010
I think home buyers are becoming more numerous and serious because of the interest rates. I am discouraged about how difficult it is to qualify for loans when they want to buy. I am also concerned about the fact that buyers want unreasonable deals on properties that are already bargains.
0 votes Thank Flag Link Thu Dec 9, 2010
Thanks for all the perspective everyone- interesting and promising how its generally turning for the better in such a varied number of markets. Merry Christmas and way to hang in there- we are all in a profession that has taken some of the hardest hits and yet we can't really even talk about our own financial situations!
0 votes Thank Flag Link Thu Dec 9, 2010
I am seeing things starting to move a little more. With interest rates on the rise, people seem to want to get a contract signed before they go too much higher. Not only that but some of the banks in our local area want to get certain properties off the books so they are dropping the prices quite a bit. Thanks for asking!
0 votes Thank Flag Link Thu Dec 9, 2010
With Holidays near, many are not thinking of buying homes at this time, though they should be! I must say, the market is coming around, from here on it can only go up!
0 votes Thank Flag Link Thu Dec 9, 2010
My business is Buyers only and I have definitly seen a increase in business in the last two month. I always hate closings between Christmas and New Years and this year I have two.
0 votes Thank Flag Link Thu Dec 9, 2010
Every region is different. I'm sure there are some isolated incidences with individual Realtors but the market as a whole in San Diego continues to post numbers indicating buyers are still waiting on the sidelines. The slowing is for two main reasons. The first is the economy and people unsure about their financial future. The second reason is it is the season to be shopping for gifts not homes.
0 votes Thank Flag Link Thu Dec 9, 2010
My business has definitely picked up in the last month to 6 weeks. I am also seeing momentum building, albeit slowly!
Web Reference: http://fabulousportland.com
0 votes Thank Flag Link Thu Dec 9, 2010
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