Tigard Home Prices Rising
single family homes
Tigard home prices rose 1.3% in 2012. This figure is only for single family homes. I have been tracking the sale of single family homes in Tigard for over 4 years. This is not a great deal of appreciation, but it is the first yearly increase I have seen in over 4 years. Tigard home prices are rising, but we are not yet in a “normal market” for the following reasons:
- There are still many short sales and Bank Owned properties (REO). These are not typical Sellers with typical Seller motivations. My data does indicate that Banks are allowing more short sales. It used to be that REO’s were more numerous than short sales. I think that Banks finally realized that would net more from a short sale than a REO sale.
- It is harder to qualify for a loan. Banks have adopted overly stringent lending requirements. Higher credit scores and higher down payments are now the norm.
- Home owners do not have as much equity as in the past. This equity allowed them to trade up easily and more frequently. When appreciation once again reliably increases equity, homes will be sold more frequently.
All figures are deemed accurate, but are not guaranteed.
Wayne Pruner is a Realtor in Tigard Oregon. I am ready to help you save money when you buy or sell your home. My Fast Track Marketing Action Plan only touches on a very small amount of activity that needs to be done to sell your home. I know the Tigard Oregon real estate market and I have been tracking housing data for years. You will only get straight answers and great advice from me. My direct phone number is 503-891-0795 and my email is firstname.lastname@example.org.
It’s simple! Who do you trust?
Licensed in the State of Oregon