Tom Heinicke

The inner SE is your best bet, in particular neighborhoods such as Buckman, Kerns, Richmond, Mt. Tabor and Hosford-Abernethy (SE Clinton probably gets the most bike traffic on the entire Eastside). You may also want to take a look at some of the lower NE neighborhoods such as Irvington, Alameda or Grant Park. If you are looking for a good deal in these areas, check out the Desperate Sellers Database at http://www.agent503.com - Fri Jul 25 2008, 14:16

There are a number of factors, that would suggest a softer landing for Portland.
1. Significantly less sub-prime loans and subsequent foreclosures than CA, NV, AZ
2. Continued stability and appreciation in Portland sub-markets such as inner SE/NE
3. Continued public funding for urban renewal areas
4. Urban Growth Boundary - which has curbed development/inventory
As a result, it appears unlikely that Portland will experience the kinds of price drops we have seen in other markets. In other words, prices may continue to drop, but presumably we're not going to see them bottoming out at 20% (vs. peak) - as is the case in Riverside, CA or Las Vegas.
So, buying in the next 3-6 months may mean that you're not buying at the lowest point, but it would allow you to benefit from the circumstances only a market correction offers i.e. desperate sellers, lots of inventory to choose from etc. If you would like to find out more about this approach check out my blog (see below) which tracks properties that have been on the market for more than 100 days and/or where sellers have reduced their asking price by at least 7%. - Wed Jul 9 2008, 14:33

Hello Pam,

I agree with Dirk Knudsen below. It is risky. But that same risk can provide some interesting opportunities, such is the nature of risk & return. If you are interested in a more controversial look at the South Waterfront, that embraces risk, take a look at this recent posting on my blog: http://agent503.com/2008/07/02/the-pressure-is-on-at-the-joh… - Wed Jul 2 2008, 13:05