Right now, as the Portland real estate market continues to stabilize, there are unique opportunities for home buyers and home sellers. It you’re trying to time your purchase for the bottom of the market, now is the time. And see below why you might want to time your sale for the bottom of the market too.

FOR BUYERS

• Low mortgage rates–Current low interest rates (around 5%) won’t last. This spring the Fed will wind down its subsidy of home loan rates. Interest rates are expected to rise. Many analysts expect to see 6% and above rates quite soon.
• Lower prices—Median home prices in the Portland Metro area are 14.8% lower than they were 2 years ago.
• $8,000 tax credit–First time home buyers must have a written, accepted sales agreement by 4/30/10 to qualify. Learn more about the tax credit.
• Rehab loans are still available—Check http://hownw.com/ for info on distressed property loans.

FOR SELLERS

• $6,500 tax credit—see if you qualify.
• Capitalize on current demand—currently there are more motivated buyers competing for fewer available properties.
• If your non-short sale home would be good for a first time home buyer, you’re in luck.  First time home buyers who want their $8,000 tax credit (and who wouldn’t?) cannot be assured a short sale purchase will close in time to qualify for the tax credit. They must choose from the available traditional owner sales and foreclosures.  Does that include yours?
• Expect a return to our traditional 3-4% appreciation.
• Most sellers are buyers too—It’s a terrific time to buy up at these “discounted” prices and lock in a low interest rate before the mortgage rates rise. Yes, your current home is worth less, but so is that dream home.

Please call if I can help you or anyone you know profit from our current real estate market.