Last week and this week I have been working with a number of buyers that have determined, based on the market from the past 60 days, current market news, positive state of the economy, lowering interest rates and the comfortable level of inventory, they are all starting to buy again.

 

I have 5 buyers that have been in a "holding" pattern for the past 20-40 days, waiting to see what the market would do, they have all started buying again.  I have written 5 offers in the past 9 days, twice the amount from the previous 40 days.  The buyers are looking at the increased inventory as a positive sign.  They are also seeing positive signs from the national news, job growth, consumers spending money and the price of a gallon of gas is way down.

 

Many areas are attracting interest right now in Portland, Oregon.  Close in SE, Sellwood, Hawthorne, Belmont and a bit more East in SE.  We are also seeing many buyers wanting to move from very close in SE and NE Portland to close in SW Portland, getting more home, larger lots and from what they are telling us, better schools and lower taxes!


From what we are hearing and reading, we are expecting the interest rates to continue to fall, have more buyers move from the sidelines and become more active in the next 60 days, we expect to see a strong finish for 2006 and 2007 start very strong!


This blog entry submitted by Bruce Hecht - Broker/Buyer Specialist with The Rob Levy Team