If you sense that a change in the Oregon real estate market may be occurring, you are probably correct. In fact, I think some changes are going to be occurring on a national level. (Especially on a national level.) In talking with other real estate professionals, I am detecting a general consensus that we are shifting into a buyers market. What does this mean? Generally it means conditions will be more favorable towards buyers than they will be for sellers. Interest rates are creeping up, which means buyers can buy less home for the same amount of money. Currently, it seems as though there may be more sellers than there are buyers. If you are a seller, now is the time to make sure you are taking advantage of every edge that you can. Make sure your home is competitively priced. The little things are also going to become more important than before, like cosmetics, and favorable terms for buyers like seller paid closing costs etc. We may not be in a full blown buyers market yet, but I think we will see definite movement in that direction over the next six months.
