I am very happy to announce that my website http://www.EduardsHomes.com is now live! I hope everyone likes it as much as I do. One great thing about this site is the ability to search Portland Metro area listings. Not only will the search find what you are looking for, but you can also view pictures, virtual tours, and get very useful information and statistics about the area and neighborhood.
After reading the monthly real estate report for the Portland Metro area I started thinking, maybe the market isn't as slow as it may seem on paper. Maybe its the suburbs bringing the numbers down?
In the past year I have moved away from the suburbs and started focusing a lot more on inner city homes with easy access to downtown and other popular areas. And to tell you the truth I am very happy I made this decision. While the market has slowed down it seems like the established older areas of Portland are doing just fine. Its important to note that while the Portland Metro area has experienced a 6% decline in home prices, both N and NE Portland home price have gone up 2.2%! This fact is amazing since by now everyone is accustomed to hearing the doom and gloom of real estate throughout the country.
So which areas of Portland are hurting the most? In my opinion its Clackamas, Happy Valley, and Gresham. What do these areas have in common? The answer is huge subdivisions with 100's of homes. During the boom these areas were thriving, people were buying up the homes even when they couldn't afford them thinking that the values will keep rising and they will just sell them later for a profit.
Unfortunately as we know now this trend didn't last. Now these three areas are filled with 100's of new construction listings that are standing on the market for a very long time or worse are for short sale. Furthermore, you will find homes that were just "abandoned" by builders and only partially completed.
So, my point is maybe the real estate market really isnt that bad? At least in the Portland area.
Please visit my website for more real estate info including access to all active listings in the Portland Metro Area: http://www.EduardsHomes.com
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