Oregon Real Estate Forecast (Portland, Eugene: for sale, houses, new construction)

[Tim Rankin]

Hot off the press.

http://www.housingpredictor.com/oregon.html

[lifes2short]

Interesting. Got a good laugh out of the snow skiing in Corvallis comment though.

[antsy22]

I just read in the register guard yesterday - Eugene's' news paper- that Eugene has surpassed Salem in population growth and is now (not including Springfield) the states 2nd largest city- I personally feel they have it wrong and that Eugene real estate will hold steady, as more people seem to be attracted to the area that to Salem. Eugene will hold the Olympic trials in track this summer and then again in 2012, which will bring the whole world (in person and on TV) to Eugene for 2 weeks to see what a beautiful town it is and will be great for the local economy. UO has recently received an $100 million donation from Nike founder Phil Knight
we will have to wait and see, but the predictor is not taking these events into account. It really does not make sense that Salem would appreciate so much while other towns decline so much
Just my feeling about it.

[elcapitan]

In the section where they talk about Eugene and say:

"But a major new employer is moving to Eugene to supply a breath of fresh air to the economy."

Does anybody have an idea who/what/when this might be?

[seven of nine]

Originally Posted by antsy22

I just read in the register guard yesterday - Eugene's' news paper- that Eugene has surpassed Salem in population growth and is now (not including Springfield) the states 2nd largest city- I personally feel they have it wrong and that Eugene real estate will hold steady, as more people seem to be attracted to the area that to Salem. Eugene will hold the Olympic trials in track this summer and then again in 2012, which will bring the whole world (in person and on TV) to Eugene for 2 weeks to see what a beautiful town it is and will be great for the local economy. UO has recently received an $100 million donation from Nike founder Phil Knight
we will have to wait and see, but the predictor is not taking these events into account. It really does not make sense that Salem would appreciate so much while other towns decline so much
Just my feeling about it.

Many people commute to portland but live in salem

[seashelly]

Originally Posted by elcapitan

In the section where they talk about Eugene and say:

"But a major new employer is moving to Eugene to supply a breath of fresh air to the economy."

Does anybody have an idea who/what/when this might be?

(Elcapitan, is the town of Oakridge near to Eugene? because a week or so ago on the local news, I saw a segment on Oakridge and it was claiming the same thing - something big moving in and suppose to turn things around for that town.)

[Silverfall]

I'm personally not sure about those statistics they are throwing out. Our residential sales were down about 10-15% from a typical year and down 35% from the peak. Stats can be manipulated in so many ways depending on whether or not you are looking at the median vs. average numbers.

We do get a lot of Portland commuters for the Keizer area, as well as North Salem, but I think we won't be as hard hit as Bend and Portland since our new construction wasn't quite as gangbusters. If you don't go up as high, you don't have as far to fall.

We're holding our own here, but when looking at real estate stats, it's important to look at the source, and where they are pulling the numbers from.

[antsy22]

I just did a seach on Realtor.com, as of today, 1-5-08:

There are 1,097 available Eugene, OR Real Estate Listings and Homes for Sale
There are 2,921 available Salem, OR Real Estate Listings and Homes for Sale

For 2 cities of comparable size Salem has almost 3X the inventory of Eugene, but the prices seem a lot better, so I could see how it could still appreciate quite a bit.

Is the NE a decent area?

[seven of nine]

Originally Posted by antsy22

I just did a seach on Realtor.com, as of today, 1-5-08:

There are 1,097 available Eugene, OR Real Estate Listings and Homes for Sale
There are 2,921 available Salem, OR Real Estate Listings and Homes for Sale

For 2 cities of comparable size Salem has almost 3X the inventory of Eugene, but the prices seem a lot better, so I could see how it could still appreciate quite a bit.

Is the NE a decent area?

NE Portland?

[Busch71]

I've read the Bend area is in the toilet. They didn't sell a single house at the recent big auction and others can't sell houses either. A guy on another forum said one of his customers has dropped his price over $100k and still no bites. Another guy posted that he's dropped his price $125k in 9 months and he's only had one person look.

Portland Housing Blog: Buena Vista Loses Money At Auction