Several days ago I did an appraisal of a house in the Woodlawn district of northeast Portland.  It is a house that is about five years old amongst a lot of houses that are 50 to 100 years old.  There are many of these newer infill houses in that part of town. (Appraisal Portland, OR)

The owner of this house paid $259,000 in the fall of 2006.  I completed the appraisal and concluded the current value is $225,000.  The average days on market for houses like this one, in that area of town was 85.  Not bad.  The high days on market for that data search was 230.

There is a lot of mixed indicators out there.  However, several recent experiences are suggesting some market areas are falling back, even if the larger district shows positive statistics.  We will keep watching.

Ralph Olsen, Appraiser

Pacific West Appraisal Services, Inc.

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