Recently I have been disheartened by the "end of the world" mentality that the national media has given to the housing market.  I want to encourage you to know that we are in one of the best metro city areas for the foreseeable future.  It is predicted that over 1 million people are moving to the Portland metro area over the next 10 years.  We have to find places for these folks to live, and this will keep the market alive and well into the coming decades for Portland, Oregon.  I have copied in some recent information from the chief economist for the National Association of Realtors which clearly points to bright days ahead for Oregon.  If you have any questions about this or would like to explore a refinance or purchase, I am here to serve you.   Hang in there!
 
June 5th, Dr. Yun,  Chief Economist and Senior Vice President for the National Association of REALTORS®. presented the following for the general Portland Metropolitan area.

1)       2008 2nd half of the year will perform better than the first half of the year.
2)      Oregon has the lowest foreclosure rate in all of the 50 states.
3)      2009 will be a good year for real estate in the Pacific Northwest.
4)      Portland area will see 30% appreciation between now and 2013 (5 year forecast)

Below is a link that will give you a snapshot of Dr.’s interview with KOIN 6News.

Portland Housing Forecast

The mortgage market is changing on a regular basis.  Contact us today to find out which loan programs will fit your specific needs or click here Pre-Qualify for Your Mortgage to pre-qualify today.

Chad Krober – MBA
Mortgage Consultant
First Horizon Home Loans
503-682-8204 – Office
503-720-3357 – Cell
ckrober@firsthorizon.com

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