The View From Here, Hood River Oregon June 2009
This Month in the View video:
Market picked up, only to be shelved by a spike in interest rates
5% is still a great rate, but since payment is so closely tied to purchase power, there has been some struggling to get once easy deals through.
The May Market Action report shows that our inventory is down in Hood River Real Estate. I question the trend because it feels busier for us, but June will probably clarify things
There’s an apparent average home price reduction in houses in Hood River, but the data is more a function of the type of homes being sold, not the prices. Things are clustering around the $250,000 to $300,000 price range because that is what is easy to get through under a normal “conforming loan”
However, price reductions are starting to make an appearance in Hood River Real Estate for this Season. Customers are preemptively dropping prices to make sure their houses sell this Summer. For example, the Frankton Estate dropped 10% to make sure it was the best in class for this price range. Slightly ominous sign, but coupled with the lower inventory, I’m hoping we’ll get down to 10 or 9 months worth of inventory here before too long.
