What's Happening in the Portland Real Estate Market?

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Selling a home? Click here for a FREE Home Price Evaluation 
Call me at (503) 427-9233 for a FREE home buying or selling consultation

It's spring already, and the Portland real estate market is off to a hot start. We only have three months of inventory, and that is down from last month. We're seeing multiple offers and people are scrambling to win offers on good homes. 

Despite some arguments that Portland is caught in a seller's market, it's actually a pretty great time to buy a home. Interest rates are around 4%, and affordability is sky-high right now. Nobody is certain when interest rates will rise again, but just a 1% increase in rates could cost you thousands of dollars. For example, just a 1% increase in the mortgage interest rates on a $400,000 home could cost you an extra $85,000 over the life of the loan!

Although this is a tough market for buyers, now is an excellent time to buy a home. Your dollar will push you further than it ever has before. With this being said, it's also a good time to sell your home and move up into a nicer one. 

For more information, click here to check out the fantastic article in the Portland Monthly for April 2015.

If you have any other questions about the Portland real estate market, please don't hesitate to contact us!

How Can You Make the Most of the Portland Market?

There are many great Portland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home,click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (503) 427-9233 for a FREE home buying or selling consultation to answer any of your real estate questions.
Today, Stellar Realty's principal broker is here to give us an update on the Portland market!

Right now, the market is great! We're very lucky here in Portland, as we're on a list of the 13 best places to move to! Last year, Portland and the surrounding areas gained about 7% in the real estate market, and prices are predicted to continue rising for at least the next three years. During their current ascent, average home sales have risen from $311,000 to $333,000.

Another thing we've noticed is that inventory has been quite low, it's currently only at 3.5 months! Homes that are priced well and in great condition are being snatched up incredibly fast, which has been very frustrating for some of the buyers we're working with. Despite the difficult conditions, buyers are still trying to submit lowball offers, and while that worked four or five years ago, no one is having much luck with conditions the way they are. Homes are disappearing before we have time to look at them and write a proper offer. 

Sellers currently have the upper hand. The most important thing for them to decide is whether they want to get top dollar for their home by making some repairs or put it on the market right away and see what they can get for it. Either way, you should be able to get buyers to pay a fair price for your home. You need to ask yourself where you're looking to go after the move - do you want to upgrade or downsize? Here at Stellar, we have the experience and expertise to help you make your decision an informed one! 

If you have any questions about the Portland area market, or if you would like our assistance in any way, please don't hesitate to give us a call or shoot us a quick email. We would love to hear from you! 

Is the Winter a Good Time to Sell a Home?

There are many great Portland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (503) 427-9233 for a FREE home buying or selling consultation to answer any of your real estate questions.

Is the Winter a Good Time to Sell a Home?

Today we are here to answer the question to whether or not you should still continue to list your house during the winter season. We actually think it is a great idea to list your home during the winter season, although conventional wisdom might tell you otherwise. 

The big advantage to selling in the winter is that buyers are more serious at this time of year. Let's be honest, if you are looking for a home in the cold winter weather during the holidays, you are going to be serious about buying a home.  In our experience, buyers are definitely more serious during this time of year.

If you have any questions for us at all, give us a call or send us an email. See you next time!