Market experts John and Priscilla DeCosta say that for the Southwest Portland market, prices remain solid with slight appreciation.

The pace of sales is 50 percent less than it was a year ago, the DeCostas say, and new homes are being discounted for immediate sale.

And with the inventory of news homes being cleared out, this market's oversupply is being eliminated.

As this happens, things are returning to normal, they say, and homes that are priced for today's market are selling well.

The brightest spot for this area are the discounted new homes, say the Decostas.

Many builders facing excruciating mortgage payments on vacant inventory are accepting discounts to get their homes sold.

And well priced upper-end homes are selling well, especially those that sellers have taken time to stage well.

Another bright spot is the prevalence of great land deals.

For those developers that can get financing, now is the time to buy.

The DeCostas say that as soon as the inventory of new homes is sold, this market is sure to be facing a shortage, which means there should be another great market for new homes in the years ahead.

For more information on this market contact John and Priscilla DeCosta at:

www.JohnDeCosta.com.

Click here to view current Market Conditions in your location.

Published: May 14, 2008

Use of this article without permission is a violation of federal copyright laws.