Home Buying in Portland>Question Details

gentry.pelti…, Other/Just Looking in Morgantown, WV

Portland homes for under 200K?

Asked by gentry.peltier, Morgantown, WV Tue May 22, 2012

I was looking at a website that stated that the median cost of a home in Portland was 266K. I know a lot a homes come up on trulia for homes 100K to 200K but not too sure about these areas sine I do not live in Portland. I would prefer my top price for a home be 170K. Is this very possible or do I need to look outside the Portland area? I do not want to get stuck in a crime ridden area.

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There are plenty of homes in that range and depending on your lifestyle there are a few areas you might want to consider both urban and close-in. I work closely with only a couple of agents that I would recommend for your relocation, feel free to contact me if you would like a referral.

Carla is right though, you really should be pre-approved by a lender to make sure that price range is attainable.

Welcome to Portland we are unique and diverse to say the least... we hope you like here!
0 votes Thank Flag Link Wed May 23, 2012
I'm quite surprised no one mentioned that PRIOR to looking for a home, on-line or with an agent, you need to have your pre-approval in place. If you've done that, then disregard my advice. But, if you've not, then you should really take the first steps in the home buying process and see a lender. You want to know what your P.I.T.I will be (so you can get a good sense of your monthly budget), you'll have a better understanding of your interest rates, what loan program you can quaifly for (FHA, Conventional, etc.). You will need to know what your closing costs will be, down payment, if there is PMI associated with your loan, etc.

Once you have your financial ducks in a row, then and only then, should you be going out to look at homes. You will know how much home you can afford and then you can lookin at properties within your price points.

Hope that helps,

Carla Muss-Jacobs, Principal Broker/Owner
EBA Portland, LLC
Exclusive Buyers Agent
0 votes Thank Flag Link Tue May 22, 2012
I would start saying that we, as agents, cannot comment on the crime rates in a specific area and for this you should go to http://www.portlandmaps.com and take a look on what happens in a particular area where you’ll find a house that you like (there are other web sites for Portland suburbs too). Getting back to the price range we can say that there’s still plenty our market has to offer but the market is shifting pretty fast here becoming more a Sellers’ market because of the supply’s reduction in the last months. And for a better deal in a better part of town I’ve seen more and more multiple offers situations. Anyways, a good deal is based on each particular person’s needs and as long as you have something specific in mind I would advise on working with a real estate agent knowing the market very well in order to find a property you’d like and keeping you updated all the time with new listings or price changes on properties of interest. Keeping track with pending and sold properties is also important so you can be on track with what the market does and become realistic on the expectation (for a particular area and a particular type of house). And when you find the “right fit” don’t hesitate to take action because there are plenty of people out there looking to get a nice deal.
And, as I’ve seen said with my other colleagues, the price range would find good deals not only in the city of Portland but also in the neighboring suburbs but this is something up to you to consider based on your life style, work place and other things you’d like to have.
I hope this will help. Feel free to contact me in case I can help more. All the best.
0 votes Thank Flag Link Tue May 22, 2012
It really depends on what you want and how close you want to live to downtown. On the North or Eastside of Portland you will find many more homes under $170,000. I just ran a search for a client that wanted close in Westside homes and 9 homes came up inside 6 miles and those were not condos. The eastside probably has a few hundred. If you were more specific I could break it down for you. If you go to http://www.portlandmaps.com There you can look at walk score and crime in different areas by addresses. If I can help further please give me a call.
Tom Inglesby
0 votes Thank Flag Link Tue May 22, 2012
oops doesn't look like my web address showed up... http:. http://.www.betterhomesnw.com
0 votes Thank Flag Link Tue May 22, 2012
A very few years ago, you couldn't find anything under $200k but that's definitely not the case today. I work with 1st time buyers, and you can find homes all over Portland and surrounding suburbs for less. I don't expect that to stay for years because we are seeing the lower end bouncing around quite a bit on pricing. But for a while, absolutely!
Here's a suggestion, if you go to my website address below, the first page is a search by map. On the left hand column, you can enter criteria and I would put $170000 as the top price. Then you can move around the map by zooming, and click on different areas (be sure to click right on the area name with your mouse) and all the current RMLS listings under $170k will appear with a little home icon. Click on the home and it will bring up information on that home. You can also filter by other criteria, like type of home (condo, townhouse, home) or number of bedrooms, etc.
Its a great way to learn about the market by area and you can do it anonymously if you choose. Once you have an address, you can research what else you might be interested in, such as crime. If you have an address and its in Portland, you can find all kinds of demographics and crime by visiting http://www.portlandmaps.com, the City of Portland's excellent resource for property information by specific address. You can find lots of crime and demographic sites online for other areas with a little research.
Best to you!
0 votes Thank Flag Link Tue May 22, 2012
I suggest you speak with Kimberly Shute. She is an excellent Realtor and will find you the perfect home in a perfect neighborhood. Best of luck with your move.
0 votes Thank Flag Link Tue May 22, 2012
As the others have noted, there are many areas in and around Portland with homes in your price range. The best strategy would be to work with someone here to help you narrow down your choices, come in for a visit to see how the neighborhoods differ and take a look at some homes.
0 votes Thank Flag Link Tue May 22, 2012
There are homes within Portland below 200k although you will have Multnomah County taxes. If you look outside of Portland proper you can still remain close in and find some very good deals and have a lesser tax payment. Washington County is one of the better counties regarding taxes. It depends what is important to you in addition to your price such as commute, size of home and lifestyle for example. Is being close to shopping or public transportation important to you? St. John's is a darling area although Multnomah County taxes, Beaverton and Tigard offer homes under $200k and are in Washington County. One other important question too is if you prefer a home, condo or townhome. I know it is a lot of questions although by answering them it will lead you to a home that is the best fit for you. There is definitely opportunity available for under $200k in safe neighborhoods.
0 votes Thank Flag Link Tue May 22, 2012
It is very possible to find a nice home for $170K in Portland. Many of the homes are short sales, but if you have the patience they can be bought at very attractive prices.
0 votes Thank Flag Link Tue May 22, 2012
You can ceretainly find homes in the Portland area in this price range. It all depends on how big of a house you are looking for, a 2 bed/ 2 bath home will be quite simple to find but 5 bed/3 bath will be much more work. You may also want to look in some of the suburbs, Beaverton and Tigard are both great areas with only a short drive into Portland, prices are a little lower here also. If you are worried about crime, This is a great way to do some research--http://www.gis.ci.portland.or.us/maps/police/ you can just type in the address of the house in question. I would also be happy to discuss different neighborhoods with you and suggest some areas that will be best suited to your needs and price ranges. Let me know if I can help!
0 votes Thank Flag Link Tue May 22, 2012
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