Well, I think it's important to note that different areas of Portland perform quite differently from each other. Here is the appreciation data from last month on specific areas (October 2006 - October 2007, from RMLS data).
N Portland: 8.5%
NE Portland: 5.9%
Gresham: 8.8%
Clackamas: -1.7%
Oregon City/Canby: 3.7%
Lake O/West Linn: 3.8%
W Portland: 3.7%
NW Wash County: 2.7%
Beaverton/Aloha: 3.8%
Tigard/Wilsonville: 5.4%
Hillsboro/Forest Grove: 8.7%
Mt.Hood: 8.8%
Columbia County: 13%
Yamhill County: 8.2%
If you, or any other readers would like to receive a copy each month, go to our website to sign-up:
http://www.PortlandFixerFinder.com/market-reports
Also, I think buying a home in areas that have a strong commercial presence (i.e. restaurants, shops, etc.) really increases the livability of an area.........making it more desirable.......appreciation is consequently stronger........etc. Here's a map of particular areas in inner NE & inner SE Portland with strong cultural areas (and even a little bit of SW Portland):
http://www.PortlandFixerFinder.com/Portland-Hot-Spots - Thu Dec 6 2007, 13:53