Comments on: Portland Oregon Real Estate Market Activity - January 2008 http://pdxmojo.com/portland-oregon-real-estate-market-activity-january-2008/ Portland, Oregon Real Estate Perspective Tue, 06 Jan 2009 15:38:31 +0000 http://wordpress.org/?v=2.2.1 By: Jody McLeod http://pdxmojo.com/portland-oregon-real-estate-market-activity-january-2008/#comment-581 Jody McLeod Mon, 18 Feb 2008 17:17:23 +0000 http://pdxmojo.com/portland-oregon-real-estate-market-activity-january-2008/#comment-581 VeganFabulous: The numbers are taken from all of SE Portland, so you will get a wide range of home prices to create that $245,900 number in the map. The asking prices you are seeing might have to do with the neighborhoods you've chosen to search. Here are some stats to show you what I mean: The Hawthorne area has a median price of $352,500, and the Mt. Tabor area has a median price of $420,000. However, other parts of SE Portland have much lower median prices. The North Lents neighborhood's median price is $190,000 and Montavilla's is around $200,000. It's a huge difference, I know, but since the RMLS numbers shown on the above map come from the entire SE area, the overall median price ends up in the middle. I also find it frustrating to see lower quality homes with high asking prices. But the real estate market has a way of self-regulating itself, just like it is doing now. People won't buy the over-priced, lower quality homes and the sellers will ending up reducing their price or taking the listing off the market. I just want to add that asking price doesn't have to be the price you pay. Offer less than asking! If you find a home you really like but you think the asking price is too high, then ask your real estate agent to help you figure out an acceptable offer price. That is his or her job and many homes are selling for less than the asking price. Good luck! VeganFabulous: The numbers are taken from all of SE Portland, so you will get a wide range of home prices to create that $245,900 number in the map. The asking prices you are seeing might have to do with the neighborhoods you’ve chosen to search. Here are some stats to show you what I mean: The Hawthorne area has a median price of $352,500, and the Mt. Tabor area has a median price of $420,000. However, other parts of SE Portland have much lower median prices. The North Lents neighborhood’s median price is $190,000 and Montavilla’s is around $200,000. It’s a huge difference, I know, but since the RMLS numbers shown on the above map come from the entire SE area, the overall median price ends up in the middle.

I also find it frustrating to see lower quality homes with high asking prices. But the real estate market has a way of self-regulating itself, just like it is doing now. People won’t buy the over-priced, lower quality homes and the sellers will ending up reducing their price or taking the listing off the market. I just want to add that asking price doesn’t have to be the price you pay. Offer less than asking! If you find a home you really like but you think the asking price is too high, then ask your real estate agent to help you figure out an acceptable offer price. That is his or her job and many homes are selling for less than the asking price. Good luck!

]]> By: VeganFabulous http://pdxmojo.com/portland-oregon-real-estate-market-activity-january-2008/#comment-580 VeganFabulous Mon, 18 Feb 2008 14:14:06 +0000 http://pdxmojo.com/portland-oregon-real-estate-market-activity-january-2008/#comment-580 Those numbers seem so far off! I have been house hunting vigorously in the last couple of weeks and most homes in SE Portland are 399+. Also, from what I have seen, what is left out there may be large in quantity but low on quality. Those numbers seem so far off! I have been house hunting vigorously in the last couple of weeks and most homes in SE Portland are 399+. Also, from what I have seen, what is left out there may be large in quantity but low on quality.

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