Vernonia - Housing (Portland: for sale, real estate market, houses)

[TheUtopian]

Hello All - I'm wondering what those who are familiar with Vernonia think about that area in terms of a medium time range forecast on home prices there.

Coupled together with the flood /mud slides, I figured that sub-prime problem, combination economic-downturn, would make it more affordable to purchase in a place like Vernonia {I love this little town} but there's not much for sale under 160k.

I dunno....It just seems like the homes being so far out would be much cheaper.


Any thoughts or future projections?


Thanks in advance!

[ksucher]

There are 1508 properties with tax records in Vernonia and it is along with St Helens one of the least expensive places to live in the Portland metro area. Currently 4 homes under $160k with 2 others sold in the last 3 months, any home that is decent does not last long there. It comes down to supply and demand, which has kept our real estate market going here compared with the nation. With the population of Washington county forecast to increase 50% in the next 10 years it will only go up, now is THE best time to be buying property it doesn’t get any better.

[BLAZER PROPHET]

I am currently still working the Vernonia flood and many houses were bulldozed. I do not know how many are being rebuilt. I would suspect that unless there is some sort of realtor collusion prices should be lower and should go down. At least land should be dropping. This is the second "100 year flood" in the last ten years. That town was devestated. I could not believe my eyes when I first went out a couple days after the flood. The town isn't going to do anything about it and this will be an on-going issue. It seems global warming is bringing more rain & snow to Oregon and living in the Vernonia flood plain is a pretty darn stupid idea these days. I talked to at least 20 people who own homes that are moving ASAP. Hard to believe prices can continue to stay so high.