Is Oregon very expensive? (Portland, Salem: environment, insurance, for sale)

[the_pines]

What's a starter home out there like 1k sq ft for 200k+? I want to head out west but im really nervous that me and my wife wouldnt be able to afford to buy a home anymore. I dont want to be stuck renting much longer, but prices are mind blowing these days. From what I gather average home prices in the metro areas are 200-300k?

[Waterlily]

Yes that's true for most of western Oregon; The 200k starting price.
if you want something cheaper you can look into the eastern part of the state.

[the_pines]

That's terrible. No one would really want to live in the eastern part of the state. Its all sage brush and high desert extremes. Western Oregon probably has more forest area than many states have land area. The state doesnt even have 4 million people. Its far from overcrowded. Those prices are extremely inflated. NorCal, Southern Oregon, Central Oregon, Coastal Oregon, Southwest Washington all have a ton of room. Its 2007 and those areas are just now seeing growth so you can throw the location, location, location thing out the window. People are more concerned with jobs, and quality of living. Rural areas are more practical with technology that's a better reason why people have moved to a lot of these areas. It all seems like its price fixed to me. Its smacks of lordships back in the medieval times when entire areas of the country are cut off nowdays to lower income and lower middle class families. Its like the same peasent mentality in the US. I would bet my three daughters are just as smart and better behaved than most spoiled brats.

[MANDOLIN]

Yes, you would be tough to get anything decent in the 200k price range. You could go across the bridge to Vancouver, WA, and probably get into something for 250-300k, but the commute to Portland is HORRIBLE! You might be able to get something around 300, but you will be needing to look over 300 for anywhere decent in the Portland area. It is crazy how outrageous house prices have become. My husband and I lived in Oregon for 5 years, and now we live in WA, but will be moving to Illinois soon. House prices there are A LOT cheaper!! But Oregon is one of the most beautiful places i've even seen. There is a lot to do outdoors and the scenery is unbeatable.

[janb]

you can bargain shop and find stuff under $200k.

Tax sales and repos will be increasing. Bare property and trashed homes on acreage have climbed a lot in value.

If it is already listed for sale , especially if listed by a realtor, it is too late. You need to be creative and diligent to hunt out the bargains, but they are there.

[seashelly]

[quote=the_pines;472195]... The state doesnt even have 4 million people. Its far from overcrowded. Those prices are extremely inflated. NorCal, Southern Oregon, Central Oregon, Coastal Oregon, Southwest Washington all have a ton of room... QUOTE]

I don't know where you currently live as you didn't say but as for the areas of Oregon, it's not a place where you can simply pitch a tent and call it home. Our terrain can be rugged and extreme so most of us prefer to live near these areas rather than in or on top of them. This is the real beauty of Oregon. Come for a visit and see for yourself.

[freedom]

Greetings The Pines,

Pricing of homes does come across fixed, but that would be next to impossible to achieve, giving the diversity of each area and the independent owners.... its not OPEC

Here is my opinion of why housing prices are up in Oregon.
1. Desirable retirement location (people from other areas with $).
2. Lack of "buildable" land. Oregon has the strictest zoning laws in the country.
3. Supply and demand, quality of homes, type of building.
4. Available workforce- very few sub-contractors and laborers compared to other areas to choose from and create competition.
5. Environmental meddling- which took away most of the money that county gov't needed to survive, so now all the fees for things like building, development and system development costs are going up, along with raw materials, because we get most all our lumber and sheeting products from Canada.
6.Insurance for builders and developers has trippled in the last 2 yrs. And will go up even more due to mold fears that effect .002% of the population.
7.General inflation (which is the devil)
8.Builder profits, for putting up with all the things mentioned above.

As a builder it makes no sense to make $20's on a project that I risk $250k-$350k on.
In the Pac North West, if you are not making at least 20% net, you shouldn't build, because you will eventually go under, be working 100 hrs. a week and end up divorced and supporting 2 households.
We build in over 20%, as to make sure and avoid that scenario, and have time for the kiddies.

freedom.

[Need_affordable_home]

Afraid it is. There isnt any cheap western states, although in parts of northern NV and ID, theres sub $100k houses. Lots of cheap land but youll have to build your own house.

[zilfondel]

You can definitely find homes in the 200-300k range in the Portland metro area. Even cheaper if you look at smaller condo units or other nontraditional housing situations.

Course, this depends on if its just you and your wife, or if you have kids, a horse, 5 dogs and a cow named Lucy.

Friend of mine actually just bought a 2-bedroom row house a few weeks ago for UNDER 200k in close-in Portland. So they definitely exist...

[bobmulk]

You can find a lot of home in Salem for under 200K and they're not necessarily in the slums. You can also find 1700 square foot homes for just over $200K and again, they're not in the slums. Salem is probably the most affordable metro area in Oregon. Our prices have started to go up because we've been so affordable and have been overlooked.