Is there light at the end of this tunnel? There are some major factors happening that are going to make buying a home on Mt. Hood VERY attractive this year. Recent reports coming from Moody's Economy are saying we may hit the bottom of this market by the end of 2009. This could be the first sighting of the bottom although history tells us, the bottom usually has already passed once we realize it.

The continual decline of prices, likely further reduced interest rates (some sources believe they will hit 4.5%), and the first time home buyer tax credit up to $8,000 will make this a premium buying opportunity. If you look at the larger metro declines averaged nationally, homes have lost around 25% and many areas are expected to continue to decline an additional 11% before stabilizing.

On the mountain, new listings for January and February have jumped up the inventory making an even more competitive atmosphere for home sellers. The increased inventory will make even more buying opportunities for purchasers who can make their move now.

For information about new listings or what is selling in today's market, give me a call or shoot me an email!