cindy: I have been looking at PDX market for a year and the best way to describe it is – “It has multiple personality disorder”. Some times prices seem to go up, some times come down with no apparent reason. My best comprehension so far is that there are two kinds of sellers: the motivated ones who really want to sell – they keep their prices realistic. And a large number of opportunistic sellers who want a high price because … well they think so!
There are LOTS of flips that have become flops and provide good buying opportunity when the pain intensifies sufficiently. There is also a LOT of inventory in foreclosure/pre-foreclosure. All evidence points to air hissing out from the balloon. The velocity is a little slower than the California drama.
You can do very well with 700K here. But you may benefit more with some wait. The nicer area for SFRs here is Lake Oswego.
