State of the Market
As you well know the State of the Market is in a state of flux. Certainly there have been worst times for those trying to sell, but it is an opportunity for those looking to buy. And what an opportunity it is. Interest rates are very low, there is the $8,000 tax credit, and prices lower than they have been in years!
One of the dynamics I am personally encountering is that sellers are thinking that the market is going to get better and the buyers think that the market is going to get worst.
It’s a stand off in some cases of who can outlast the other.
Sellers and or banks that have to sell right now are seeing their properties sell within days of listing them.
Not fire sales but homes and properties priced to be a good value in today’s market.
Overall the Mid-Columbia has not been "hit" as hard as other areas in our state or in the nation.
We have fewer homes in foreclosure, fewer homes in general and that has helped to stabilize and insulate our housing market somewhat. But we are certainly not immune to the effects of the current global economic crisis. Prices of homes are down from the high point over all about 30% and certainly more for some properties and neighborhoods. I still see some downward movement and I would not say we have hit the bottom. The bottom will come when we have a 6 month inventory of homes. Right now overall we have a 13 month supply. This varies from price range to price range too. One really good thing is that our listings are down too. Whether people are just not listing or have rented instead this will help take the pressure off of the inventory some.
We are a small agricultural/timber based community with newly added high tech jobs and a burgeoning resort/recreational economy.
We have a fairly regular transient population following the harvest of crops and the seasonal recreational sports industry.
Businesses come and go in communities like ours and it is looking like we are on the verge of another boom. A local company, Insitu,recently bought out by Boeing is showing a lot of promise. If they get the contract they want with the government they will build a campus here in the gorge and continue hiring. This would be a fantastic boost for us.
Stay tuned ....
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The Perfect Townhome
Hood River Condo/Townhouse - $ 309,000
3 Bedrooms
2.10
Bathrooms
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1667 Sq Ft
.06 acres
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Learn More...
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Downloads - Click to View:
Market Action.pdf
Related Links: www.insitu.com/
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