After years of price drops and foreclosures is the real estate market primed for another boom? Here to talk about the future of real estate is Nick Krautter from Keller Williams real estate and Sellpdx.com
Q. 2012 has brought a lot of good news but are people really predicting a housing boom?
A. Yes. An analyst with Barlclays is predicting a return to peak values by 2015. I think based on what we’ve seen in Portland that this could absolutely come true.
Q. How well has the market done this year?
A. In Portland metro prices are up 4-5% and in closer in areas that number is higher. I think we could see values back to peak market in a few years.
Q. Aren’t people worried about another crash?
A. Because interest rates have dropped so low affordability is very high. The last boom was fueled by loans that were not sustainable and this time around people are getting fixed rate loans that they can afford.