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Overall, Hood River Real Estate has been pretty good this month. Lots of deal action, but loooower prices.

Last year, in the fall, Sellers attempted to hold onto their prices, and managed to do a pretty good job of it. This year? Different story. Sellers have capitulated, and are selling at some steep discounts. That makes it tough for those left in the market trying to sell, but it makes the Buyers very happy.

Of course, that hangover will be lasting for a long, long time, as appraisals will become tougher with this seasonal dip. I’m certain appraisers can factor in distress sales, but a number of these sales are not distress sales, they are open, free market sales, and that’s going to hurt…..

HERA and HVCC continue to be slightly problematic, but more problematic are the new bankers dealing with mortgage. Now we are returning to the old “bankers” model; you have to prove you don’t need a loan to get a loan…….

Investments are pricing at cashflow again, I’m guessing closer to 8-12%. Thankfully. Lending, however, is all but impossible. These days, its all about owner financing.

Still with all of this, it’s been a good month, and October looks strong and so does November. That leaves only one month after that to get past 2009……….

Long term forecast for the Hood River market will be flat, at best, with pockets of calamity, and a few wipeouts. Mostly, though, people seem to be keeping it together, and most of all, working together to figure things out…..All in all, survivable.

Thanks for reading! see you next month!