Good News for Portland Real Estate
Are you a homeowner in Portland looking to sell? Are you a potential home buyer looking to purchase a house in Portland? Well there’s good news for you either way! We now find ourselves in a unique real estate market that is friendly both to buyers and sellers.
Since the housing market crashed a half decade ago, we’ve seen the prices of homes steadily go down- until now! Thanks to an extremely low inventory of homes for sale in Portland, (the lowest in 3 years) prices are starting to inch back up. Craig Reger observes, “We are seeing the effects of the low inventory on a daily basis. We are working with literally dozens of buyers who simply cannot find a home that meets their needs. There’s an urgency today that we just haven’t seen in the past few years- we are on the ground getting clients into properties as soon as they hit the market, and networking with other agents to get them in houses before they even hit the market. We have to because we know our buyers face a lot of competition. On the flip side, we have very happy sellers whose homes are getting multiple offers and who definitely have the upper hand when it comes to negotiating terms.”
While this situation typically spells doom for homebuyers, this is not presently the case. While on the rise, home values and interest rates still have not fully recovered from the market crash, meaning that buyers can still afford to purchase a home at a bargain basement price while also securing a super low interest rate. This is not a situation we are likely to see again anytime soon, nor for much longer. With rates and home costs where they are at now, home prices are almost guaranteed to rise in upcoming years, but to take advantage, you must act now.
Whether you’re looking to sell or purchase an investment property, a new home, a fixer-upper, or simply an upgrade; there has never been a better time to sell and/or purchase a home in the Portland area.
If you’re interested in learning more about what Craig Reger and his team can do for you, contact us today at 503.893.2022.
This unique situation isn’t likely to last, so don’t delay! Contact us today!