It’s that magical time of year where most people are planning for trips and telling their clients the market is slowing down. Historically December is the slowest month for pending sales here in Portland but this has never been the case for my business. December is always a sprint from start to finish for two big reasons; Investors and first time buyers.

Here’s how it works: You have interest rates at the lowest point in years, a large inventory and people are ready to make deals. This is the perfect storm for qualified first time home buyers or investors. I wrote an offer on a home last week that had 8 other offers in the first week! [ps- that's not slow!!!]. One of my listings has had 50 showings in the last two weeks!!! Take into account that rents are predicted to go up 10-15% this year and buying your own place or investing in a property that your renters’ are going to pay for looks like a great idea.

There is also a tangible sense in the air that this Spring will see a turnaround in inventory taking us back to more of a sellers market and our couple months of buyers market will be gone. I can’t see the future but I’ve got a hunch.

You might also notice that I’ve totally upgraded the new listings page with photo tours and links to the full listing info. Thanks to all my readers here at sellpdx.com – I’m starting to meet some of you guys and I hope I get to help many more of you as you buy and sell in 2008.

Popularity: 100% [?]

Hello Portland shoppers, here is your update on all things real estate from right now!

Inventory in the Metro area is 8.4 months with 15,500 active listings. December is historically a slow month but lots of investors are making moves right now and there is healthy showing activity on my listings. Rents continue to climb narrowing the gap between renting and buying. And the really good news is from the lending world…

From James Adair at pdxhomeloan.com: Rates for a 30 year fixed rate mortgage dropped below the 6% barrier and are right about 5.75%!! The FHA mortgage remains a great option for those with lower credit, but a lot of wholesale banks are increasing their credit score minimums from 585 to 600.

Popularity: 74% [?]