Is Lake Oswego bubble proof?
Filed Under Lake Oswego home buyers, Lake Oswego market update, Lake Oswego short sales, Lake Owego Home sellers, West Linn home buyers, West Linn home sellers · Tagged: Lake Oswego market update, Lake Oswego short sales, Lake Owego Home sellers
Lake Oswego and West Linn seem to share in the same bubble zone. I love that word… Bubble. It is a nice fun word that doesn’ sound as harsh as its reality. Lake Oswego Home Sellers are tuned in to the bubble reality. Property values appreciated 7.8% in 2007, today’s 2008 reality is down -4.6%. Numbers don’t seem to drastic.
Key here is when you bought and at what price. If you were the eager buyer in 2006 that won a multiple bid war on your dream property and need to sell today, your bubble may be about to burst. If you bought 10 years ago, your property has probably doubled in value. Historically, property doubles every 10 years or so.
Price zone is also a factor. Here is the challenge, since the average price in Lake Oswego and West Linn is above the conventional ceiling of 417K, our buyers need to not only bring money to the party, and they need outstanding credit for those under 5% rates. Sellers that may be upside down in their property must know what their lein holders policy is on a short sale. If your clock is ticking, don’t wait for them to call you. You take the first step. Don’t know where to start? Call Lake Oswego Home Sellers.
Agent Profile
Professional experience, local knowledge.
Let our personal service be your guide to Lake Oswego real estate.
Serving Lake Oswego, West Linn and the surrounding communites.
My Lake Oswego Blog
Comments
Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!