Recent history. The Portland condo market took an absolute beating in 2020 after slowing down for years prior to the start of the pandemic. While the single family real estate market in Portland started booming by fall 2020 and hasn’t stopped skyrocketing (until very, very recently), the condo market in 2021 saw modest gains and recovery from an absolute frigid 2020. Now the condo market in Portland, having lived through the early stretches of the pandemic and the downtown riots that followed, is finally stable again in 2022. However, did the Portland condo market recover just in time for the greater real estate market to drop? Looking at the Utterly Terrible 2020 Portland Condo Market For much of 2020, only...
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Portland Real Estate Condo Market, 2022
May 27, 2022
Recent history. The Portland condo market took an absolute beating in 2020 after slowing down for years prior to the start of the pandemic. While the single family real estate market in Portland started booming by fall 2020 and hasn’t stopped skyrocketing (until very, very recently), the condo market in 2021 saw modest gains and recovery from an absolute frigid 2020. Now the condo market in Portland, having lived through the early stretches of the pandemic and the downtown riots that followed, is finally stable again in 2022. However, did the Portland condo market recover just in time for the greater real estate market to drop? Looking at the Utterly Terrible 2020 Portland Condo Market For much of 2020, only...
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Are you gearing up to put your home on the market this summer? If so, there’s a lot to think about: finding a qualified real estate agent, prioritizing repairs and updates, and so much more! The ultimate goal, of course, is to make your home as appealing as possible to every potential buyer who crosses the threshold for an in-person viewing. One excellent way to improve the aesthetic appeal and increase the value of your home is to refresh or revamp landscaping. Below, we offer tips and suggestions for improving the value of your home for both short- and long-term approaches. Short-Term Curb Appeal Boost to Sell your Home Here are a few quick, simple steps you can take to...
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Portland Landscaping Tips to Increase Short-Term or Long-Term Home Value
May 23, 2022
Are you gearing up to put your home on the market this summer? If so, there’s a lot to think about: finding a qualified real estate agent, prioritizing repairs and updates, and so much more! The ultimate goal, of course, is to make your home as appealing as possible to every potential buyer who crosses the threshold for an in-person viewing. One excellent way to improve the aesthetic appeal and increase the value of your home is to refresh or revamp landscaping. Below, we offer tips and suggestions for improving the value of your home for both short- and long-term approaches. Short-Term Curb Appeal Boost to Sell your Home Here are a few quick, simple steps you can take to...
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Size is one of the top deciding factors people consider when buying a home. What amount of square footage best meets your needs? How many rooms does your household need to live comfortably? For some, luxury is at the top of the list, so the more space, the better. For others, squandering their money on space they consider unnecessary is out of the question. Wherever you fall on the spectrum, knowing real estate trends and getting clear about your needs will lead you in the right direction. Here, we take a look at what’s happening across the country and around Portland, and we offer three questions of help you decide just how much space you truly need. New Homes are...
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How Big Should Your Next Home Be? Essential Guide
May 23, 2022
Size is one of the top deciding factors people consider when buying a home. What amount of square footage best meets your needs? How many rooms does your household need to live comfortably? For some, luxury is at the top of the list, so the more space, the better. For others, squandering their money on space they consider unnecessary is out of the question. Wherever you fall on the spectrum, knowing real estate trends and getting clear about your needs will lead you in the right direction. Here, we take a look at what’s happening across the country and around Portland, and we offer three questions of help you decide just how much space you truly need. New Homes are...
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If you’re thinking of selling your home, you’re probably wondering how much it has appreciated since you bought it. According to a survey conducted by Rocket Homes, which polled 2,058 homeowners, if you were to guess, the accuracy of that guess probably depends on how long you’ve owned your home. (Learn more about the survey’s methodology.) When someone buys a home—probably the biggest investment of their lives—they naturally expect that the home will build equity and grow in value. It’s a reasonable expectation to have, after all, but the rate at which that value builds depends on a number of factors: location, neighborhood comps, the home’s age and condition, updates and upgrades, and the state of the current market, to...
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Homeowners Overestimate Home Value as much as 150%
May 17, 2022
If you’re thinking of selling your home, you’re probably wondering how much it has appreciated since you bought it. According to a survey conducted by Rocket Homes, which polled 2,058 homeowners, if you were to guess, the accuracy of that guess probably depends on how long you’ve owned your home. (Learn more about the survey’s methodology.) When someone buys a home—probably the biggest investment of their lives—they naturally expect that the home will build equity and grow in value. It’s a reasonable expectation to have, after all, but the rate at which that value builds depends on a number of factors: location, neighborhood comps, the home’s age and condition, updates and upgrades, and the state of the current market, to...
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With more people opting to leave city life behind and slip away into suburbia, it’s nice to know places like Oregon City exist. Its palpable historic richness, thriving downtown area, and prime location at the confluence of the Willamette and Clackamas rivers make this charming Portland suburb worth serious consideration. If you’ve been thinking of relocating to a quieter, more calm lifestyle, this lovely city might be for you. One of the first things to consider when thinking about relocating to a new locale is the area’s real estate market. We took a look at the market in Oregon City, and here’s what we found. Oregon City Real Estate Market Report, Spring 2022 For the current month, the most recent...
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Oregon City Real Estate Market 2022 Update and Forecast
May 17, 2022
With more people opting to leave city life behind and slip away into suburbia, it’s nice to know places like Oregon City exist. Its palpable historic richness, thriving downtown area, and prime location at the confluence of the Willamette and Clackamas rivers make this charming Portland suburb worth serious consideration. If you’ve been thinking of relocating to a quieter, more calm lifestyle, this lovely city might be for you. One of the first things to consider when thinking about relocating to a new locale is the area’s real estate market. We took a look at the market in Oregon City, and here’s what we found. Oregon City Real Estate Market Report, Spring 2022 For the current month, the most recent...
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Across the country, pandemic life has driven people from city centers to smaller locales in search of more space, more privacy, and a quieter, more enriching quality of life. While not to the degree of more populous areas like New York, and the Bay Area, many Portland residents have also made the shift toward suburbia. Think the suburban lifestyle might be for you? Read on. We looked at the many desirable and highly livable cities and towns surrounding Portland, many of which offer the serenity so many are looking for these days, while still being infused with a little bit of Portland. Here are our top five picks. 1. Tualatin, Oregon Population: 27,942 Median Home Price: $630,000 County: Washington Distance to Portland: 12.3 mi,...
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5 Best Cities to Live in Close to Portland: 2022 Update
May 16, 2022
Across the country, pandemic life has driven people from city centers to smaller locales in search of more space, more privacy, and a quieter, more enriching quality of life. While not to the degree of more populous areas like New York, and the Bay Area, many Portland residents have also made the shift toward suburbia. Think the suburban lifestyle might be for you? Read on. We looked at the many desirable and highly livable cities and towns surrounding Portland, many of which offer the serenity so many are looking for these days, while still being infused with a little bit of Portland. Here are our top five picks. 1. Tualatin, Oregon Population: 27,942 Median Home Price: $630,000 County: Washington Distance to Portland: 12.3 mi,...
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We’ve all been waiting and wondering what it will take to shift the real estate market in Portland after two years of an unprecedented sellers market. Prices have continued to rise at record rates with inventory remaining low. While it is obvious this state of affairs isn’t sustainable, when the shift would happen and what would cause it have been big question marks for everyone. Interest Rate Hikes are Now, and Will Continue to Slow the Market How do I know that the interest rate hikes are causing a slowdown? We look at weekly buyer traffic reports. Typically from March to May home buyer traffic (visiting homes for sale to purchase them) increases and peaks in May. In 2022, home...
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Portland Real Estate Market Update, June 2022
May 13, 2022
We’ve all been waiting and wondering what it will take to shift the real estate market in Portland after two years of an unprecedented sellers market. Prices have continued to rise at record rates with inventory remaining low. While it is obvious this state of affairs isn’t sustainable, when the shift would happen and what would cause it have been big question marks for everyone. Interest Rate Hikes are Now, and Will Continue to Slow the Market How do I know that the interest rate hikes are causing a slowdown? We look at weekly buyer traffic reports. Typically from March to May home buyer traffic (visiting homes for sale to purchase them) increases and peaks in May. In 2022, home...
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Choices, choices. There are over 1.4 million real estate agents in the U.S. according to NAR. And according to NAR, there are over 100,000 different Realty companies to choose from, meaning there is one Realty company in existence per 14 licensed Realtors. In Oregon there are over 17,000 Realtors and using Oregon’s license lookup tool I found 319 active registered business names, which means about 53 registered Realty companies to one licensed real estate agent in Oregon. 319 is too many to write about, and in fact, I can only write specifically about the one I’m with, eXp Realty, LLC. However, I’ve been licensed in Oregon since 2003 and have made the rounds. The team I run has sold over...
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What’s the Best Realty Company to Join in Oregon?
May 11, 2022
Choices, choices. There are over 1.4 million real estate agents in the U.S. according to NAR. And according to NAR, there are over 100,000 different Realty companies to choose from, meaning there is one Realty company in existence per 14 licensed Realtors. In Oregon there are over 17,000 Realtors and using Oregon’s license lookup tool I found 319 active registered business names, which means about 53 registered Realty companies to one licensed real estate agent in Oregon. 319 is too many to write about, and in fact, I can only write specifically about the one I’m with, eXp Realty, LLC. However, I’ve been licensed in Oregon since 2003 and have made the rounds. The team I run has sold over...
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If your look up your home’s value on Zillow’s valuation tool, Zestimate®, you may feel strongly impacted by the price that comes up. It may not be accurate, though. Zillow even says so on their site. So, why is that? And what good is it if you can’t count on it to give you an accurate estimate on your home’s worth? They post this disclaimer: “A Zestimate incorporates public, MLS and user-submitted data into Zillow’s proprietary formula, also taking into account home facts, location and market trends. It is not an appraisal and can’t be used in place of an appraisal.” (They even provide a table of error rates for cities across the U.S. within 5%, 10%, and even 20%...
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Is the Zillow Zestimate Accurate? 2022 Update
May 9, 2022
If your look up your home’s value on Zillow’s valuation tool, Zestimate®, you may feel strongly impacted by the price that comes up. It may not be accurate, though. Zillow even says so on their site. So, why is that? And what good is it if you can’t count on it to give you an accurate estimate on your home’s worth? They post this disclaimer: “A Zestimate incorporates public, MLS and user-submitted data into Zillow’s proprietary formula, also taking into account home facts, location and market trends. It is not an appraisal and can’t be used in place of an appraisal.” (They even provide a table of error rates for cities across the U.S. within 5%, 10%, and even 20%...
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With all that’s going on in this hot Portland real estate market, including bidding wars, we want to give you some tips on how to navigate it all. But first, let’s take a look at the bidding war claims and see what’s really going on. Are Bidding Wars Really Happening in Portland? Due to the ongoing supply-demand imbalance, potential home buyers in Portland have had to work hard to get the homes they want. Part of the reason for this is that the pandemic has allowed more and more people to work from home. This has resulted in people with more affluence moving to Portland—from California, for instance—which has often meant buyers receiving offers far above their asking price. Not...
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How to Win a Bidding War on a House for Sale
May 6, 2022
With all that’s going on in this hot Portland real estate market, including bidding wars, we want to give you some tips on how to navigate it all. But first, let’s take a look at the bidding war claims and see what’s really going on. Are Bidding Wars Really Happening in Portland? Due to the ongoing supply-demand imbalance, potential home buyers in Portland have had to work hard to get the homes they want. Part of the reason for this is that the pandemic has allowed more and more people to work from home. This has resulted in people with more affluence moving to Portland—from California, for instance—which has often meant buyers receiving offers far above their asking price. Not...
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