Robust Year Projected For 2015

Because of the uptick in the economy, the rising stock market, and low interest rates, spring of 2015 is likely to be a banner year for both buyers and sellers.  For sellers, inventory is limited as of now, and those who are first to the market this spring are likely to benefit from the pent up buyer demand.  As we edge closer to the summer, it is anticipated that inventory will grow; buyers will have more choices and therefore the ability to shop and negotiate. 
 
In terms of buyers, rates right now are below 4% for both Conforming Loans and Jumbo Loans (those above $417,000) and with Fannie Mae now unveiling it’s 3% down payment program, it is sure to drive first time buyers into the market. This will allow the lower priced homeowners to sell easily and move up.
 
When it comes to Cedar Mill, Bethany, and the Forest Heights Market, there is truly no better positioned community sector of Portland, due to the employment base.  For example, Intel, has over 17,000 area employees and had the biggest gain in share price for the Dow Jones Industrial with a rise of 41.6% for 2014.  In addition, Nike, with 8,700 area employees, has just unveiled their $150 million dollar expansion plans, essentially making Western Multnomah County and Washington County financially a stable location for many years to come.   
 
If you would like to discuss your real estate goals and how to best time your moves in the local real estate market, please contact Eleete Real Estate.  We look forward to the opportunity to represent you.