Inventory is Down, Way Down!

I just got some awesome stats on Portland's Real Estate market from June. The good news is that for properties under $300,000 the inventory is down to 6.4 months! That is basically a neutral market, meaning that neither buyers nor sellers have an advantage. There is just about equal supply and demand for those smaller properties, and those for first time buyers. As the price of properties goes up, the more inventory there is, and the more power buyers have. So, if you are selling a home for more than $300,000, be prepared to pay closing costs and do the repairs that buyers ask for. If you are buying over $300,000, ask and you shall receive! For first time buyers trying to qualify for the $8000 tax credit, you may not get all the repairs you are asking for, or as much of a price reduction as you expected, but there is more competition in your price range. Don't forget, in order to qualify for the tax credit you must close before the end of November, that means that the title is in your name, and you have the keys!