February 24, 2008
Portland Housing Slump? Homeowners
Portland Housing Slump? Homeowners Don't Believe It
Despite numerous reports showing home values in historic decline, more than three out of four homeowners believe their own home has not lost value in the past year, according to an online survey.
The survey was conducted by Harris Interactive for Zillow.com, a Web site that gives estimated home values.
The survey of 1,619 homeowners found 36% believe their home has increased in value, and another 41% believe their value has stayed the same. Only 23% believe their home has lost value.
Figures from the National Association of Realtors show that the median price of an existing home sold in 2007 fell 1.4% from 2006, the first decline in that key price measure the trade group has ever recorded.
We'd love to hear what you think. If you're a homeowner, do you feel that your home has decreased, or increased, in value? Leave us your comment at the "comment" link below.
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Comments
April 3, 2008
Neil R said:
Portland Realtors, Mortgage Brokers and Homeowners have all been in denial and have created a bubble amongst themselves to perpetuate the fallacy of Portland being immune from the rest of the US economy. Why? Because people with money in Portland think that Portland delivers a Utopia that reality can't touch. They forget that most of Portland is Working Class or Poor. The global businesses that are in Portland may be operating outside of the US recession (tennis shoes are still selling around the world) but that is not an accurate measurement of Portland's economy. Housing prices are falling in Portland (in tiny pockets) and for any Seller who lists a price competitively and in-line with a reduced value similar to California price declines, sells quickly.