Recession Time Frames

Everything in nature has a cyclical pattern: seasons, tides, aging, and REAL ESTATE. While this concept is something everyone KNOWS, we usually only care about how it’s affecting US right NOW. What everyone wants to know is this: where are we in the cycle? Based on history, here’s what we know: Since 1900 the average recession has lasted about 14 months; in the last 60 years it’s lasted 10 months. For buyers who are waiting for “the bottom” before you buy, what happens if you MISS the bottom? It’s like buying stocks; smart investors buy low and sell high, but the “low” is always a guess. Right now, prices for most homes on the market more than 4 months have already been reduced and they are priced to sell. We at Mannila Besaw Group would love to hear your opinions about whether you think the market is at the bottom. For people listening to popular media personalities who think they are qualified to give advise on Real Estate, remember this: Real Estate is a LOCAL business, and if you’ve heard Suzy Orman say “if a house is listed for $250K, you’d be an idiot to offer more than $125K”, please know this is not the case in Portland. Our market is the 4th best market in the nation right now, and those types of offers are not being accepted here. In fact, our team now has 2 listings that are involved in a bidding war! That is the FIRST sign of a recovering market!We’d love to hear YOUR thoughts about investing in Portland, and if you haven’t read the “Millionaire Real Estate Investor” please contact us to find out how to get your copy of the definitive book on how to buy smart Real Estate.

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