Here’s an experpt from a Q+A I did with Steve and Rebecca from KXL’s morning show:
Q – The Portland Metro inventory is down to it’s lowest point in 19 months. What does this mean for the market and what is your advice for sellers now that it is a balanced market?
A – The low inventory is great news for the market. Sellers still need to get their home ready for showings and price it to market. The lower inventory should mean a shorter time on market.
Q – What is your advice to buyers and investors?
A – Buyers need to buy in their comfort zone, don’t buy more than you
can afford. Investors need to focus on cash flow and look at
appreciation as bonus [one I expect will be real within 5 years].
Interest rates are close to 4.5% for most borrowers so affordability
remains very high right now in Portland.