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Old 05-21-2015, 03:07 PM
 
Location: Tucson, AZ
1,584 posts, read 2,378,439 times
Reputation: 4164

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Is it a secret?

Yes, costly professional up-to the minute statistics only for industry professionals. It gives very specific neighborhood metrics, data and analysis not available to the public. Foreclosure, shortsale, and delequent properties are listed. With it you could be the first to put in a bid on a home or land parcle before the public even knows about it.

Think of it like having access to Mannheim Auto Auction databases before going to look at a premium used car. Or being able to actually go to Mannheim and paying auction price.

Last edited by AndyAMG; 05-21-2015 at 03:18 PM..
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Old 05-21-2015, 03:10 PM
 
584 posts, read 1,283,286 times
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If you look at how much a crappy home in San Jose selling for now then you wouldn't say they are suckers or stupid. Less than 1400 sqt, ugly old in crappy San Jose neighborhood sold for 750K. And that's just San Jose so your house looks cheap Andy compares to all west coast standard. At this point you will say the big gap in wages between the 2 cities and i will tell you is that some of the internet related jobs today give them the luxury of living any where in the world and be working effectively. So those might be the people who bought your house and many others in Portland.
i bet 10, 15 yrs ago those people who sold their houses in most of Portland said the same thing like you do today. Looks back and say who are the suckers now ?

Unlike most of you and whether we all like it or not i think Portland will get even more expensive into the future. The whole west coast will be until perhaps, the collapse of China.

But then, congratulation you sold your house and don't want to be a landlord. I would do the same thing for another reason that just because i don't like St. John area. As i have mentioned in another post i would buy Milwaukie because it has a great deal of potential to closer the gap to those along the river.
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Old 05-21-2015, 03:22 PM
 
584 posts, read 1,283,286 times
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Quote:
Originally Posted by CanuckInPortland View Post
If Q2 sales are off to a slow start it hasn't shown in my NE neighborhood yet(or anywhere nearby my neighborhood). Every time I see a new For Sale sign up when I'm going for a jog, there's usually a pending sale sign within a couple weeks--and houses are selling for asking price or higher. We got our house last year, and comparable houses are already selling for much higher this year.

Talking to friends who are realtors here, what I'm hearing is that homes that are selling for a lot higher prices have sold slower lately(at least as prices have gotten higher)--and some of the lower priced homes(which is relative with the current median price) can be a tougher sell sometimes--because the more affordable homes selling in this market are often in need of repairs, strange add-ons or design, or they're really small(and some people would just buy a condo at that point). But homes in that sweet spot of being close to the median price(about $311,000 last time I checked) or a little lower or higher--are selling quick--and it's very competitive. Especially in the quickly transitioning areas on a little further out(Foster-Powell, Montavilla, Roseway, etc.) These are where the young couples looking to buy are looking at since more and more people are priced out of the inner neighborhoods.

Could this be a bubble? Possibly---there could be a correction at some point soon, though it might just be that prices don't climb that high, but appreciate slower in the future over the next decade. Housing is tight here still and there's not many new homes being built in relation to demand. People in Vancouver BC where I'm from originally have been waiting for the housing bubble to pop there for the last eight years--and prices just get higher and higher every year(much, much higher than Portland by a ratio of three to four times at least for a single family home).

Look at redfin sold data within the last month i saw quite a few homes sold for much more than their listed price range from 19k to 30K over asking price. I wouldn't say it slow down at least for now.
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Old 05-21-2015, 03:23 PM
 
Location: Portland Metro
2,317 posts, read 4,395,700 times
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Quote:
Originally Posted by FSF View Post
The fundamental thing you folks are failing to understand about California "suckers" is that in many instances, these folks have made substantially more money in selling their homes than what Portland homeowners have made. They have plenty of money to work with. For those who move here, they could just rent if money and price appreciation was their only goal, but I think they just want to find the place they want to be and move on with their lives not worrying about what may seem like a lot of money to locals. For those playing the landlord game from out of state and that is their only aim, I would agree that they will probably be holding the bag for a long time.
It's true. These folks are coming with cash, so it's not like they'll ever be underwater on their home, even if the value drops by half. They can wait out any bubble pop if they are young enough.
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Old 05-21-2015, 11:26 PM
 
584 posts, read 1,283,286 times
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Roll down and look at listed price, days on market before went pending and finally sold price.
This is just for Milwaukie and 1 in SE Portland. I am collecting data just for fun.
Slow down ? No way.

https://www.redfin.com/OR/Milwaukie/.../home/26024413
https://www.redfin.com/OR/Milwaukie/.../home/26076039
https://www.redfin.com/OR/Portland/1.../home/26040768
https://www.redfin.com/OR/Portland/6.../home/26472071

The home on Hill road looks beautiful isn't it ?

It seems like thing are getting expensive anywhere close in so Milwaukie got some readjust in price. My prediction next will be east of 205 all the way to Gresham/Troudale but i don't think it's smart to go there.
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Old 05-22-2015, 07:59 AM
 
48 posts, read 51,085 times
Reputation: 40
The money quote:
Quote:
Our buyer is asian . . . .
Being a white guy living here in Asia who speaks the language and knows where all the bodies are buried has been an eye opener. There's a flood of wealthy Asians here who see the writing on the wall and are chattering away at each other about taking their cash to the U.S. to buy cheap real estate their so their families have a future. $400k U.S.? Pocket change here where a bare concrete walled apartment sells for $2,000,000 and a 30 year old roach infested hovel sells for $500k in most major Asian cities.

Housing costs have gone thru the roof since 2008 thanks to the flood of money from QE and Asian property owners, unlike thier U.S. counterparts, have the will and resources to sit on their overpriced real estate forever, even though the average professional is lucky to make U.S. $40,000 a year here to the point where 90% of the population can no longer afford to buy a home without the help of a wealthy relative from the older generation.

Bottom line being the real housing bubble is happening here in Asia and Oregon is just a side show and when it pops all those cash rich Asians paying too much for housing on the West Coast and New York City will vanish. The irony is that the bulk of the easy money sloshing into the U.S. real estate market is actually QE money. That's the writing on the wall. Everyone here knows the underlying economies in Asia are aging rapidly and falling into a Japanese style malaise so once all this easy money plays out the hangover is going to be serious for a lot of people.
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Old 05-22-2015, 10:34 AM
 
989 posts, read 1,406,321 times
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Prices are a bargain compared to the Bay Area...a lot of young technology workers talk fondly of Portland when I'm down doing business with them. Imagine being paid $150K by Salesforce, etc. and being able to relocate to PDX where they can actually buy a house. Folks they are going to keep coming...COL here, and quality of life will drive many to move here.

Portland is getting GREAT reputation nationwide...two weeks ago I had a call from a RE investor from Texas driving my neighborhood. He wanted to know how many houses he could get on my 10 acres. 50, 60? I told him he needed to study Oregon Land Use laws...as not all farmland can be developed.
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Old 05-22-2015, 11:06 AM
 
1,376 posts, read 1,230,812 times
Reputation: 1469
Quote:
Originally Posted by patrick_m View Post
The money quote:

Being a white guy living here in Asia who speaks the language and knows where all the bodies are buried has been an eye opener. There's a flood of wealthy Asians here who see the writing on the wall and are chattering away at each other about taking their cash to the U.S. to buy cheap real estate their so their families have a future. $400k U.S.? Pocket change here where a bare concrete walled apartment sells for $2,000,000 and a 30 year old roach infested hovel sells for $500k in most major Asian cities.

Housing costs have gone thru the roof since 2008 thanks to the flood of money from QE and Asian property owners, unlike thier U.S. counterparts, have the will and resources to sit on their overpriced real estate forever, even though the average professional is lucky to make U.S. $40,000 a year here to the point where 90% of the population can no longer afford to buy a home without the help of a wealthy relative from the older generation.

Bottom line being the real housing bubble is happening here in Asia and Oregon is just a side show and when it pops all those cash rich Asians paying too much for housing on the West Coast and New York City will vanish. The irony is that the bulk of the easy money sloshing into the U.S. real estate market is actually QE money. That's the writing on the wall. Everyone here knows the underlying economies in Asia are aging rapidly and falling into a Japanese style malaise so once all this easy money plays out the hangover is going to be serious for a lot of people.
While it's true that a lot of Chinese buyers are buying property and thus driving up real estate prices in places on the West Coast and New York--it wasn't really clear if the guy who was being referenced in the post you quoted was an foreigner or an Asian from California, so he might not be straight from Beijing(or even Chinese). If he's from California he could be several generations removed from Asia considering the history of immigration there. And it's really rich Chinese who are making a dent in the real estate market, I rarely hear about foreign Koreans or Japanese buying much real estate(actually Mexicans buy more real estate in the US than any Asian country except China, and South Americans are buying a lot of real estate in the Miami and Houston areas).

Sincerely, a half-Chinese guy from Canada.
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Old 05-22-2015, 11:50 AM
 
210 posts, read 239,932 times
Reputation: 379
Quote:
Originally Posted by gray horse View Post
Prices are a bargain compared to the Bay Area...a lot of young technology workers talk fondly of Portland when I'm down doing business with them. Imagine being paid $150K by Salesforce, etc. and being able to relocate to PDX where they can actually buy a house. Folks they are going to keep coming...COL here, and quality of life will drive many to move here.

Portland is getting GREAT reputation nationwide...two weeks ago I had a call from a RE investor from Texas driving my neighborhood. He wanted to know how many houses he could get on my 10 acres. 50, 60? I told him he needed to study Oregon Land Use laws...as not all farmland can be developed.
Ah, so basically the tech workers who have driven the cost of living of the Bay Area through the roof now want to come up here and do the same. Go figure. What about all the people who already live here and make average wages for the area? What about their dreams of home ownership?
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Old 05-22-2015, 12:58 PM
 
584 posts, read 1,283,286 times
Reputation: 475
Quote:
Originally Posted by pdwpdx View Post
Ah, so basically the tech workers who have driven the cost of living of the Bay Area through the roof now want to come up here and do the same. Go figure. What about all the people who already live here and make average wages for the area? What about their dreams of home ownership?
You know this whole world is getting expensive and will continue that up trend with more population adding to it. It's not only real estate in Portland and California people fueling it. Look at home price in Europe, Asia including Australia, even south America, Africa. US home price relatively cheaper with the over all median income compares to other countries in the world.

Not only home prices around the world are getting expensive but everything else you can think of starting with foods and energy to material goods and even tax...etc. All because of the world population is multiple. The only solution i can think of is to make 2 billion people disappear over night or we all have to deal with the reality mentioned above.

The good thing about America is you have 50 other places to choose from. Most other countries of the world t have ZERO places to get away.

I am telling all the kids today i met including mine is that they have to finish college in order to have a better life in this world. Anything less than that basically unacceptable.
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