Real Estate Outlook: Forecasts from Top Bank Execs

RealtyTimes: Real Estate News and Advice

Kenneth R. Harney

Here’s a perspective that we don’t get that often: The inside real estate forecasts of some of the top executives of America’s biggest banks.

Speaking at a private financial conference in London last week, the bankers were moderately upbeat about where we’re headed in housing and mortgages.

Howard Atkins, chief financial officer of Wells Fargo, was quoted in the American Banker newspaper as saying that lower mortgage rates — the latest 30-year average dropped below 6 percent again last week — plus more affordable housing, and banks newly strengthened by capital infusions, should trigger a recovery this year.

Read Kenneth Harney’s complete article

It’s Time To Buy!

Ryan Frank, a writer for the Oregonian, takes the latest figures published by The Standard & Poor’s Case-Shiller price index and interprets the information for the Portland area market.

Bill Conerly, an economist in Lake Oswego, says buyers who have solid credit and a 20% down payment would do just fine if they plan to buy and stay in the house for at least five years.  Long-term owners can wait out short-term price declines.

“They will be happy they bought,” he said.

With interest rates low (but projected to increase as the world adjusts to increasing energy and food costs), housing inventory up, and home prices favoring buyers - it’s time to buy!

RE/MAX equity group, inc. Ranked #15 in the Nation!

Real Trends, a publishing and communications company considered to be a leading source of analysis and information for the residential brokerage industry, recently ranked the top real estate firms across the country and our company RE/MAX equity group, inc was ranked #15.  We were the only Oregon brokerage company featured!

Latest RMLS Market Action

Every month, Maria or I will post the latest Market Action from RMLS.  Please do not be intimidated, only the first four (4) pages pertain to the Portland Metro Area; however, if you’re interested in areas such as SW Washington, Lane County, Coos County or other RMLS supported areas, the data is there for the viewing.

What’s Selling Now – Oregonian Article featuring Maria Sabatino

Sunday Oregonian – May 18, 2008

I was featured in last Sunday’s Oregonian Homes section in the article

What’s Selling Now: Finding a buyer means making home pretty and pricing it right

The thrust of the article was that listings are selling briskly in all areas of Portland Metro in certain circumstances.  I was featured along with some other excellent brokers in town because we had been able to assist sellers in getting their houses sold in well under a month and we shared a common view of what was making the difference.

During February, there were 21,763 homes for sale in the Portland/Vancouver area. That’s over 6,000 more available homes than during the same time frame the year before.
   
Maria Sabatino, a broker with RE/MAX equity group, sold a townhouse in Peterkort Village in Southwest Portland less than a month.

The secret to sales success in today’s competitive market, says Sabatino, is this rule of thumb: “It’s a beauty contest and a price war.”

In other words, if you can see the market competition when you look out the front door, your listing must be the absolute best it can be and the best priced. If those conditions are true, the buyers will find you.

Maria Sabatino, Broker, CRS, GRI – RE/MAX equity group

Read the complete article