NAI Norris, Beggs & Simpson’s Special Asset Team and Johnson Reid, a consultancy specializing in real estate development and land use economics, have collaborated to release a single-family housing report for the Portland metro area for Third Quarter 2009.
The report covers both lots and standing inventory in Portland and Vancouver, and contains some good news for the market.
“Market watchers think that the bottom of the curve is behind us and that we are well on our way into a recovery in this hard-hit market,” said NAI NBS Executive Vice President H. Roger Qualman, who heads up the Special Asset Team.
The inventory of new and used homes and lots is declining, the report says, and houses between $150,000 and $199,000 are a sweet spot for action.
NAI NBS’ Special Asset Team, consisting of five brokers in Portland and Vancouver, was created within the firm to respond to the collapse of property markets through the Pacific Northwest. Tight financing for housing, investors and developers has created a need for its services as stress is placed on banks, bankers and banking relationships. The Special Asset Team works with lenders to provide strategic solutions for distressed assets, improved properties or loans.
The full report can be found here.
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