CoreLogic came out with their Home Price Insights Report which showed appreciation rates in homes. Their findings are representing in the following graph:With these appreciation rates,
Its Not Just Portland
"The REO discount per living space actually went positive in the first quarter of this year, meaning buyers are paying more for REOs than normal priced homes. "
It's starting to look like overpriced distressed homes, short sales, and REO's are becoming a trend.
"Now that the market is healthy again, will traditional consumers take the place of buyers? With inventory as strapped as it is, will fewer investors pouncing on properties actually be a relief for potential buyers? Only time will tell what the lull in real estate investors will do to the housing market."
See the full HousingWire article here: http://www.housingwire.com/news/2013/06/06/shifting-market-turns-investors-shy-housing
And remember to call or email me at 503.789.7888 - firstname.lastname@example.org if you would like to discuss how the market will affect your upcoming home purchase!