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Friday, January 30, 2009

Buying Portland Condominiums

By A. Kim

Portland Oregon is a great place for families and great place to call home. It is a thriving community with many outdoor activities and parks for you to enjoy. Whether you are a single person or a family looking for spacious living place, Portland condominiums might be just the right option for you.

Portland's moderate temperature and great outdoors environment makes it one of great place to live in places like Hillsboro, Lake Oswego, West Linn, Tigard, and greater Portland area.

Prices have become very affordable for all types of buyers, but especially for those seeking Portland condominiums, there has been not better time. With the recent housing bust, inventories of housing and unsold condos have climbed to record levels. There has been huge investments in South Waterfront, Pearl District and the downtown areas, but some luxury condo construction have stalled because of economic conditions.

$478 per square feet has been an average listing price of Portland condominiums in the late 2007, but recently these prices have decreased significantly. This is perfect time to purchase one for those who have good credit and enough down payments, the inventories of unsold condos have reached unprecedented levels.

$250 per square feet is the average sales price in middle of 2008 and have declined some more since then, further allowing buyers who has long term horizon. Prices of housing will not come back to the highs reached in the mid 2000's, but if you have long term perspective this might be the perfect time to purchase one.

These condos offer many amenities and customization which can offer hands free living, letting you enjoy the outdoors without worrying about repair and maintenance of your home. It will free you to do you thing. With small association fee, the repair and maintenance will be taken care of by the association. The US housing market to rebound sooner or later, 2009 and early 2010 will be perfect time to invest or buy a home.

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