It’s happening. The Portland real estate market is cooling after a two-year hot streak. Home prices have slowed and started to drop in some areas. Likewise, new home construction is down across the country, according to the U.S. Census July, 2022 report. Portland, Oregon has done a lot to try to increase the amount of available housing with recent updated high density zoning laws, but in terms of new home construction, those efforts have yet to bear any fruit what-so-ever. This is most likely due to the increased cost and shortage of materials, and lack of available labor over the past few years. Portland New Home Construction Numbers in 2022 Portland New Home Construction 2015 2016 2017 2018 2019 2020...
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Portland, Oregon New Home Construction Numbers into 2023
October 5, 2022
It’s happening. The Portland real estate market is cooling after a two-year hot streak. Home prices have slowed and started to drop in some areas. Likewise, new home construction is down across the country, according to the U.S. Census July, 2022 report. Portland, Oregon has done a lot to try to increase the amount of available housing with recent updated high density zoning laws, but in terms of new home construction, those efforts have yet to bear any fruit what-so-ever. This is most likely due to the increased cost and shortage of materials, and lack of available labor over the past few years. Portland New Home Construction Numbers in 2022 Portland New Home Construction 2015 2016 2017 2018 2019 2020...
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Preparing to sell your home takes time and involves a lot of moving parts. There are plenty of factors influencing whether or not a home sells and how long it takes. Having a checklist can help. We’ve created the one below and divided interior and exterior tasks, with recommendations on what to complete just before photos are taken for listing on the MLS and on thousands of additional real estate websites. After taking a look at the checklist, keep reading for important home preparation advice. Interview 2-3 Real Estate Agents We’ve got a list of Realtor interview questions here, ready for you to ask sellers agents. Realtors have a thousand different approaches and strategies to sell their clients homes faster and...
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Get Your Home Ready to Sell, Printable Checklist 2023
October 3, 2022
Preparing to sell your home takes time and involves a lot of moving parts. There are plenty of factors influencing whether or not a home sells and how long it takes. Having a checklist can help. We’ve created the one below and divided interior and exterior tasks, with recommendations on what to complete just before photos are taken for listing on the MLS and on thousands of additional real estate websites. After taking a look at the checklist, keep reading for important home preparation advice. Interview 2-3 Real Estate Agents We’ve got a list of Realtor interview questions here, ready for you to ask sellers agents. Realtors have a thousand different approaches and strategies to sell their clients homes faster and...
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Buying a condo in Portland means prioritizing a special list of considerations. Delving into the condo lifestyle also means more affordability and more freedom to spend your time the way you want—for example, no yard upkeep or high-cost maintenance and repairs. HOA Costs for Portland Condos are Up in a Big Way It is not possible to simply look at Portland condo prices and compare them to detached single family homes. HOA fees have increased 20% since 2020 in Portland, Oregon (we’ve been keeping track). Check out the current average monthly HOA fee you can expect to pay when owning a condo in Portland in 2022. We provide a regular annual report. We also provide a way to search for...
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Portland Real Estate Condo Market 2023 Forecast
September 30, 2022
Buying a condo in Portland means prioritizing a special list of considerations. Delving into the condo lifestyle also means more affordability and more freedom to spend your time the way you want—for example, no yard upkeep or high-cost maintenance and repairs. HOA Costs for Portland Condos are Up in a Big Way It is not possible to simply look at Portland condo prices and compare them to detached single family homes. HOA fees have increased 20% since 2020 in Portland, Oregon (we’ve been keeping track). Check out the current average monthly HOA fee you can expect to pay when owning a condo in Portland in 2022. We provide a regular annual report. We also provide a way to search for...
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When your roof is doing its job, it’s easy to take it for granted. But if it gets damaged during a storm or degrades due to age, you’re faced with the expense of repairing or replacing it. It can be hard to where to begin. Should you go with the materials that were used before, or should you consider another type of roof? New roofs are common upgrades for those wanting to sell because it adds value to the home. A fresh roof with clean lines and gutters can dramatically increase curb appeal from something worn down or potentially scary looking to a homebuyer. Also, most lenders will require that the roof is not leaking and in reasonable shape before...
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Top 5 New Roof Types to Install in the Pacific Northwest
September 28, 2022
When your roof is doing its job, it’s easy to take it for granted. But if it gets damaged during a storm or degrades due to age, you’re faced with the expense of repairing or replacing it. It can be hard to where to begin. Should you go with the materials that were used before, or should you consider another type of roof? New roofs are common upgrades for those wanting to sell because it adds value to the home. A fresh roof with clean lines and gutters can dramatically increase curb appeal from something worn down or potentially scary looking to a homebuyer. Also, most lenders will require that the roof is not leaking and in reasonable shape before...
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Whether you’re learning how to get your real estate license for the first time, or have been selling homes for many years now, you’ve likely heard of EXP Realty, one of the fastest growing Realty companies in the world (and of all time). There are 319 Realty companies to choose from in Oregon, about 1 for every 53 licensed agents. In the U.S. as a whole, there is one Realty company for every 14 licensed agents. Personally, I’ve been licensed since 2003 and have been a part of a small handful of different local Realty companies. I’d like to share with you briefly why I think EXP Realty is your best choice (whether you’re an individual agent or run a...
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Why Every Agent Should Join EXP Realty in 2023
September 26, 2022
Whether you’re learning how to get your real estate license for the first time, or have been selling homes for many years now, you’ve likely heard of EXP Realty, one of the fastest growing Realty companies in the world (and of all time). There are 319 Realty companies to choose from in Oregon, about 1 for every 53 licensed agents. In the U.S. as a whole, there is one Realty company for every 14 licensed agents. Personally, I’ve been licensed since 2003 and have been a part of a small handful of different local Realty companies. I’d like to share with you briefly why I think EXP Realty is your best choice (whether you’re an individual agent or run a...
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This article will answer “What is a Probate?”, will give an overview of the probate process, and when in that process the sale or transfer of a decedent’s home should take place. Opening a Probate Case in Portland, Oregon Probate is the process of administration and distribution for the estate of a deceased individual. Many states require a probate procedure for distribution of the decedent’s assets and real property. To initiate a probate process, the first step is to determine if the decedent has a valid will (testate) or no will (intestate), or if there is a recorded transfer on dead deed. If there is a valid will, a petition to probate the will must be filed in the circuit...
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When Can you Sell a Home in Probate?
September 23, 2022
This article will answer “What is a Probate?”, will give an overview of the probate process, and when in that process the sale or transfer of a decedent’s home should take place. Opening a Probate Case in Portland, Oregon Probate is the process of administration and distribution for the estate of a deceased individual. Many states require a probate procedure for distribution of the decedent’s assets and real property. To initiate a probate process, the first step is to determine if the decedent has a valid will (testate) or no will (intestate), or if there is a recorded transfer on dead deed. If there is a valid will, a petition to probate the will must be filed in the circuit...
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A “Transfer on Death” deed (TODD) is a type of legal instrument that will automatically transfer the ownership of real property to a beneficiary designated by name on a deed upon death of the current owner. Because the right of ownership is automatic upon death, a TODD is often viewed as a beneficial way to avoid probate altogether. It is worthwhile however to note the limitations of a Transfer on Death Deed. A TODD is revocable either by the current owner, or if the current owner sells the ownership right to another individual. Also, unlike a co-owner who can enjoy present ownership rights to a property, a named beneficiary can only enjoy ownership rights upon death of the current owner....
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What is a Transfer on Death Deed in Real Estate?
September 21, 2022
A “Transfer on Death” deed (TODD) is a type of legal instrument that will automatically transfer the ownership of real property to a beneficiary designated by name on a deed upon death of the current owner. Because the right of ownership is automatic upon death, a TODD is often viewed as a beneficial way to avoid probate altogether. It is worthwhile however to note the limitations of a Transfer on Death Deed. A TODD is revocable either by the current owner, or if the current owner sells the ownership right to another individual. Also, unlike a co-owner who can enjoy present ownership rights to a property, a named beneficiary can only enjoy ownership rights upon death of the current owner....
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The national real estate market has seen unprecedented times over the past two years, and the Portland real estate market is no exception. From monthly market reports for Portland proper to updates for the city’s surrounding suburbs, we’ve consistently tracked how the real estate market has unfolded to give you a clear idea of the trajectory of the industry. Check out our full 2023 Portland real estate forecast here. Portland Real Estate Activity is Decreasing Across the Board According the the most recent RMLS report, new listings saw a 13.2% decrease in August 2022 ( to 3,209) from the same time in 2021. With buyers taking a pause, in light of rising interest rates and a predicted recession, pending sales...
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Portland Real Estate Market, October 2022
September 19, 2022
The national real estate market has seen unprecedented times over the past two years, and the Portland real estate market is no exception. From monthly market reports for Portland proper to updates for the city’s surrounding suburbs, we’ve consistently tracked how the real estate market has unfolded to give you a clear idea of the trajectory of the industry. Check out our full 2023 Portland real estate forecast here. Portland Real Estate Activity is Decreasing Across the Board According the the most recent RMLS report, new listings saw a 13.2% decrease in August 2022 ( to 3,209) from the same time in 2021. With buyers taking a pause, in light of rising interest rates and a predicted recession, pending sales...
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Thinking of selling your home? Then you’re probably interested in real estate commissions. How much are they and what do you get in return? Will you be able to sell your home for more? Do you need the real estate agent’s advice and representation? Real Estate Commission Changes from the 90s to Today There are a lot of different ways to look at real estate commissions. One would be the overall decade trends from an average hovering around 6% in the 90’s to 5% in the 2000’s and 2010’s, and now just starting to dip below 5% in 2020 and after. Note that a 1% drop from 6% is roughly a 17% decrease. But in the meanwhile, home prices have...
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Average U.S. Real Estate Commission Rates into 2023
September 16, 2022
Thinking of selling your home? Then you’re probably interested in real estate commissions. How much are they and what do you get in return? Will you be able to sell your home for more? Do you need the real estate agent’s advice and representation? Real Estate Commission Changes from the 90s to Today There are a lot of different ways to look at real estate commissions. One would be the overall decade trends from an average hovering around 6% in the 90’s to 5% in the 2000’s and 2010’s, and now just starting to dip below 5% in 2020 and after. Note that a 1% drop from 6% is roughly a 17% decrease. But in the meanwhile, home prices have...
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Every month, in addition to our regular Portland real estate market update, we provide a real estate market update on a local Portland suburb, to give you the full picture of what’s happening in the world of real estate across the metro area. This month, we’re looking at the quiet suburb of Sandy, gateway to Mt. Hood. Less than 30 miles southeast of Portland, Sandy has a population of 12,743 and offers a lot more to both residents and visitors than initially meets the eye. It’s true that this unassuming little burg’s main street is the main thoroughfare that will take you from Portland to Mt. Hood. But there’s plenty to see and do in and around Sandy itself. Take,...
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Sandy, Oregon Real Estate Market Update and 2023 Forecast
September 14, 2022
Every month, in addition to our regular Portland real estate market update, we provide a real estate market update on a local Portland suburb, to give you the full picture of what’s happening in the world of real estate across the metro area. This month, we’re looking at the quiet suburb of Sandy, gateway to Mt. Hood. Less than 30 miles southeast of Portland, Sandy has a population of 12,743 and offers a lot more to both residents and visitors than initially meets the eye. It’s true that this unassuming little burg’s main street is the main thoroughfare that will take you from Portland to Mt. Hood. But there’s plenty to see and do in and around Sandy itself. Take,...
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