Portland Metro Homes Price to Fall Again?
An article in the Oregonian today really got me going. It was a small article, and it didn't take up much space, which is probably a good thing. "A leading housing research firm predicts that Oregon home prices will fall 3.9 percent in 2010, the second largest drop in the country. In the 12 months ending in January 2010, Oregon reported the nation's fourth largest home price decline from a year earlier, at 8.9 percent."
We are all influenced by what "others" tell us and say, whether it be in newspaper articles, TV reports or "official" "leading housing research firms" giving us advice. This simply isn't true.
We are definitely in a housing cycle. Cycle's are, as is their nature, both up and down. We are in a down cycle, but what the report doesn't tell is is the history of the market in Portland Metro, and Vancouver Washington.
I would like for you to see a chart, which is a very visual example of the housing market and how residential real estate appreciates. The red line is drawn as a way to demonstrate how residential ALWAYS go up, a very solid 5-6% if taken over a period of years. If you would like to see the chart, please view the chart Portland-Beaverton-Vancouver.
The average "price gain or loss" or "appreciation or depreciation" in Portland Metro and Vancouver from
2000 - 2009 is 5%. 
2000 - 5%
2001 - 5%
2002 - 5%
2003 - 6%
2004 - 10%
2005 - 15%
2006 - 14%
2007 - 6.3%
2008 - (-3.7)%
2009 - (-12.1)%
Add these amounts up and we have a very solid market.
Are you purchasing a home as an investment? Now is a good time to purchase additional properties for rental income. There are some screaming deals out there, especially to invest in some fix ups. The banks want to get rid of these properties and won't invest to get them in market condition.
Do you want to own a home as a base for your life? Chickens, gardens, dogs and the option to paint your house any color you may want.
Please assume either attitude, investment or a place to call home, because I truly believe that now is a perfect time to buy or sell real estate in the Northwest and Portland and Vancouver.