Happy Wednesday! Welcome back to the new weekly report.
The economic down turn of 2008 changed the landscape of real estate for buyers and sellers. The state of our economy makes many fearful in regards to purchasing a home. There is still hope and oppurtunity to create wealth due to the correction of the housing market.
Thankfully, we are not seeing the exact same issues that caused the major housing collapse in 2008. With that said, a recession could actually be a great time to buy a home.
1. Sellers may be more flexible. With demand slowing, home prices can decrease a bit and buying a home at a more affordable price than we’ve seen in the past few years possible.
2. Interest (and mortgage) rates will go down. While this is a factor to look at, experts say don’t tie your purchase to an interest rate because the ability to refinance will always be there. Marry the house, date the rate.
3. Less competition means more options. As the market cools, some potential buyers will step away whoch will bring some much-needed inventory to the market as there will always be sellers in any market.
If you are thinking about buying a home in this market there are a few things you should make sure you are on top of:
1. Get your finances in order.
2. Set up a budget.
4. Shop for the right mortgage lender.
Fun Things to do this week…
You’ll find it impossible not to get into the spooky spirit at St.
Helens’ annual tribute to Halloween.
When: Every day, through Oct 30
Where: St. Helens (St. Helens, OR 97051)
This family farm has been around since 1920 and is known for packing their fresh
fruit into baked goods of all sorts.
When: Every day, through Oct 30
Where: Packer Orchards3900 Highway 35 Hood River, OR 97031
THIS WEEKS REAL ESTATE UPDATE
Numbers help tell a story.
Numbers are powerful, especially when it comes to real estate! Whether you are assess whether it’s a good time to buy, sale or invest these numbers can be very valuable in determining offers or best sales price! PLEASE FEEL FREE TO REACH OUT WITH ANY QUESTIONS
Portland, OR 97230
Wed Oct 12 2022
This week the median list price for Portland, OR 97230 is $449,947 with the market action index hovering around 42. This is an increase over last month’s market action index of 41. Inventory has decreased to 69. Click here to stay informed with the Portland market!
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller’s Market
The market has been cooling over time and prices have recently flattened. Despite the consistent decrease in Market Action Index (MAI), we’re in a Seller’s Market (where significant demand leaves little inventory available). If the MAI begins to climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Portland, OR 97220
Wed Oct 12 2022
This week the median list price for Portland, OR 97220 is $472,450 with the market action index hovering around 43. This is less than last month’s market action index of 45. Inventory has decreased to 70. Click here to stay informed with the Portland market!
Fairview, OR 97024
Wed Oct 12 2022
This week the median list price for Fairview, OR 97024 is $574,900 with the market action index hovering around 45. This is less than last month’s market action index of 46. Inventory has increased to 13. Click here to stay informed with the Fairview market!
Troutdale, OR 97060
Wed Oct 12 2022
This week the median list price for Troutdale, OR 97060 is $489,949 with the market action index hovering around 50. This is less than last month’s market action index of 53. Inventory has decreased to 28. Click here to stay informed with the Troutdale market!
Gresham, OR 97080
Wed Oct 12 2022
This week the median list price for Gresham, OR 97080 is $541,900 with the market action index hovering around 41. This is about the same as last month’s market action index of 41. Inventory has decreased to 120. Click here to stay informed with the Gresham market!
Portland, OR 97236
Wed Oct 12 2022
This week the median list price for Portland, OR 97236 is $472,800 with the market action index hovering around 37. This is less than last month’s market action index of 39. Inventory has held steady at or around 87. Click here to stay informed with the Portland market!
Portland, OR 97211
Wed Oct 12 2022
This week the median list price for Portland, OR 97211 is $554,450 with the market action index hovering around 45. This is an increase over last month’s market action index of 44. Inventory has increased to 78. Click here to stay informed with the Portland market!
Two Questions Every Homebuyer Should Ask Themselves Right Now
Saving for a Down Payment? Here’s What You Should Know.
RECIPE OF THE WEEK!
Have you heard of HOMEBOT?
Find out everything you need to know about your homes current value here! Learn more
Are you thinking about selling your home?
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RECIPE OF THE WEEK!
Miso Bolognese
Ingredient Checklist
- 1/4 c. vegetable oil
- 2 medium yellow onions, finely chopped
- 4 stalks celery, finely chopped
- 2 medium carrots, finely chopped
- 6 cloves garlic, finely chopped
- 2 lb. (20% fat) ground beef
- 1/2 c. dry sherry
- 2 c. low-sodium chicken broth
- 6 tbsp. white miso paste
- 1 c. full-fat coconut milk
- 1 tsp. freshly ground black pepper
- Kosher salt
- 1 lb. fettuccine
- 1/2 c. chives, sliced, plus more for serving
Instructions Checklist
- In a large pot over medium-high heat, heat oil. Cook onions, celery, and carrots, stirring, and until softened, about 5 minutes. Add garlic and cook, stirring, until fragrant, about 1 minute. Add beef and cook, stirring occasionally and breaking up meat with a wooden spoon, until lightly browned, 8 to 10 minutes.
- Reduce heat to medium and add sherry. Cook, stirring occasionally, until liquid is reduced by half, 8 to 10 minutes.
- In a large bowl or measuring cup, whisk broth and miso until fully combined. Add to beef mixture. Reduce heat to low and cook until slightly reduced, about 10 minutes.
- Add milk and pepper and cook, uncovered and stirring occasionally, until thickened and flavors have melded, about 10 minutes more.
- Meanwhile, in a large pot of boiling salted water, cook pasta until al dente according to package directions. Drain.
- Remove pot with sauce from heat and stir in chives. Add pasta to sauce and toss until noodles are coated.
- Divide pasta and sauce among bowls. Top with more chives.
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