Agent Profile
My job is service...service to you and your real estate transactions! How can you benefit from my 25 years of experience and expertise? What can I offer to make the process more productive?
* Current information on available housing...comparative and competitive market pricing and analysis
* Daily involvement in the local real estate marketplace.
* Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business.
* Extensive network of professional resources to make the process as smooth as possible.
My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!
JANEESE JACKSON: 503-709-0802 or jj@janeesejackson.com
January 2012 Portland Metro Real Estate Update!!!
The “word” for the last several months of market stats has been “improvement”. And, last month was no different!! Closed sales saw a 10.3% increase and pending sales saw a growth of 19.3%. And, get this!!! We are now at 5.3 months of inventory (there are currently 8,612 active residential listings). In the last 3 years we have been at a high of 19.2 months of inventory and this is the lowest in that time period!! The average sale price dropped 6.7% compared to 2010. So, in some areas pricing is still declining, in other areas we are seeing some stabilization.
BUYERS: What does this mean for buyers? I still see a slow recovery, so I don’t believe that interest rates or pricing will improve so suddenly that you need to feel an undue sense of urgency. That being said, a declining market is going down until it isn’t! And, interest rates are low until they’re not! So, not being a gambler I would begin whatever steps you might need to feel comfortable making that purchase.
SELLERS: What does this mean for sellers? Well, it at least gives us hope that our market might be moving towards more balance. When is the market going to improve? Probably not any time soon, but we are making some progress. I do believe that we still have a lot of “shadow inventory” of short-sales and foreclosures that haven’t surfaced. And, pricing is still “King”. Stay tuned!
INVESTORS: What does this mean for investors? It’s a very solid investor market as rents have been rising due to a shortage of rental properties and more renters entering the market that have either lost their home or decided they can’t buy. The vacancy rates are low. Well priced, well located smaller plexes sell quickly so investors must be prepared with mortgage pre-approvals or cash. But, they must also do their homework and make sure the property will cash flow (how much is based on your developed strategy). Then you rely on the tenant paying down the mortgage every month to increase ROI (return on investment).
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