Portland Real Estate Predicts Steady Run in Their Market
Thursday, February 02 2006 @ 07:55 pm UTC
Contributed by: jron
Real Estate markets are showing signs of disappointment as of late, Florida, San Francisco, and in Las Vegas are almost identically slow in progress or flat. Although there are still places which expects good run for the season like for example, Washington Countyone of their most profitable year on it's record was 2005, they are confident they can match that feat this year.
Gary Taylor broker/manager of the Re/Max Equity Group Inc. said that "I don't see it slowing down," also adds "I'm just seeing so much stuff that looks good, I think it will continue." He has an office in the Sunset Corridor with 85 employees working for him.
In underrated real estate market place like Portland, whom posted a record breaking total volume of sales for 2005 with $10.6 billion, with a decent 13.1 percent climb in closed sales last year, although an amazing year was held their numbers for December in closed sale dropped. Shaping a trend that is known to real estate through out the nation.
Taylor said that his office manages to closed $30 million in sales in that same month, that is almost double from their sales a year ago. For the whole season their office closed a very satisfying $350 million in sales, a pretty good year for Taylor.
Aside for it's completed sales, Taylor also says that their number of sales pending at year's end was also higher than it's previous year. There have been a 13.1 percent jump in Braverton and Aloha areas last year, 10 percent increase by Hillsboro and Forest Grove. Probably the highest increase recorded for sales pending was a whooping 20 percent by Gresham and Troutdale, a great year in all.
Owner Brian Allen of Windermere Cronin & Caplan Realty Group said "I predict prices will continue to rise but at a much smaller rate -- maybe 5 to 10 percent," Allen was also the former president of RMLS. He also adds "But they won't be going down," confident about their market.
"Interest rates will stabilize and not rise significantly -- we'll probably still have interest rates below 8 percent for the next year or two -- and you probably won't see the feeding frenzy." Adding to his statement.
Real Estate agents expected to see a steady or an increase in sales and also a little bit in appreciation too in the Portland area, People has their eyes on the mortgage rates but agents are confident they would likely buy, and maybe a key to its run this season.