Going to be another good year in real estate

Just when the statistics and news are saying that Portland real estate might be slowing down, I've encountered 4 deals this week that have multiple offers. One of the deals was the cutest bungalow in Hillsboro. First day on the market, six offers went in. The last bid was way above asking price. Another deal today for a house in West Linn got 3 offers. It was on the market for 2 weeks. When suddenly there's one bid, everyone else wanted to jump on it. From what I'm seeing, it's going to be another great year in real estate in Portland.

A Chat with Industry Leader

I had a chat with the lead manager of one of the best developers here in Portland. She was telling me that though their condos and townhomes have a wait list all the way to November 2006, the industry is taking a very cautious approach to a possible downturn of our market.

The front page of the Oregonian talks about how the tech industry in Oregon is no more; how Intel and other high tech companies are having hiring freeze. Our city is dependent so much on these high tech companies to create jobs and generate revenue, if the tech industry fall, we'd really have to relook at the whole real estate thing and ask what's next. The economy and the real estate industry will go down when people start to talk about it going down - not in board rooms but in BBQ parties, causal dinner conversation, etc.. When people start to panic, that's when all hell broke loose.