January 2019 Newsletter

Inventory is declining, which is typical this time of year. Affordability continues to be a problem in many areas        including the Columbia River Gorge. In a poll, 86% of Oregonians viewed saving enough for a down payment and closing costs as a significant obstacle to buying a home. One new tax deduction is available to Oregonians as of 2019 to help with this. First time home buyers or home buyers who haven’t owned a home in 3 years may deposit up to $5,000 (single filers)/ $10,000 (married filers) into an account and have it be tax deductible to help with those costs— consult your tax account for more information. Many people are anxious to see what this new year brings in terms of our local real estate market. Some of our predictions — interest rates will continue to slowly rise,       inventory levels will increase slightly compared to last year, days on markets will be longer, we won’t see as many sales as we did in 2018.  If you have any questions or would like specific information on a listing, please feel free to give me a call.