Inventory in the Gorge Could be Better?

4 Comments
Gorge Real Estate News, Real estate News

We have been waiting for the market to pick up which is what we think is happening now what with more and more people looking around for properties. That is exciting and all but in reality we do not have that much quality inventory to sell them. Pricing has adjusted nicely on most of what was offered but we are still in need of better perceived value product to sell. One segment that has been HOT is the Repo market. Banks are getting properties back and are getting those on the market at under market value and they are getting multiple offers in most cases. It is difficult to discover a property, let your buyers know about it, get prepared and write the offer before someone else does. I lost out on one just last week and I do not like to lose out!!! Tough for me huh and my clients as that would have been a smashing deal!! The industry itself is not helping matters as the lending industry is a mess right now. Money is difficult to get because lenders appear to be sitting back waiting out this recession fat from the Tarp/stimulus checks from Obama and not caring about doing business. What is bad about that is we on “Main” Street are the ones who can pull the country out of this recession but we are being restricted from doing so by a lack of We have been waiting for the market to pick up which is what we think is happening now what with more and more people looking around for properties. That is exciting and all but in reality we do not have that much quality inventory to sell them. Pricing has adjusted nicely on most of what was offered but we are still in need of better perceived value product to sell. One segment that has been HOT is the Repo market. Banks are getting properties back and are getting those on the market at under market value and they are getting multiple offers in most cases. It is difficult to discover a property, let your buyers know about it, get prepared and write the offer before someone else does. I lost out on one just last week and I do not like to lose out!!! Tough for me huh and my clients as that would have been a smashing deal!! The industry itself is not helping matters as the lending industry is a mess right now. Money is difficult to get because lenders appear to be sitting back waiting out this recession fat from the Tarp/stimulus checks from Obama and not caring about doing business. What is bad about that is we on “Main” Street are the ones who can pull the country out of this recession but we are being restricted from doing so by a lack of money available to buyers. A very hard hit part has been manufactured home (MF) lenders; they have all but gotten out of lending on MF homes at this time. Trouble is that there are many MF homes up and down the Columbia River Gorge and we are listing them for sale and will sell them if we can find a money source. I do see the market getting better and consumer confidence building but this is an up and down struggle. There are some good buys out there today and people are always looking to better their lifestyle which a new living environment is the greatest impact on that. I would be happy to discuss any thoughts that you may have on this subject as it definitely is the big subject these days. Please just contact me. Thanks, Bob money available to buyers. A very hard hit part has been manufactured home (MF) lenders; they have all but gotten out of lending on MF homes at this time. Trouble is that there are many MF homes up and down the Columbia River Gorge and we are listing them for sale and will sell them if we can find a money source. I do see the market getting better and consumer confidence building but this is an up and down struggle. There are some good buys out there today and people are always looking to better their lifestyle which a new living environment is the greatest impact on that. I would be happy to discuss any thoughts that you may have on this subject as it definitely is the big subject these days. Please just contact me. Thanks, Bob

4 Responses

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