James Sandlin, Both Buyer and Seller in 97232

Housing market near Lloyd Center

Asked by James Sandlin, 97232 Sun Nov 18, 2007

I've got a 2 bedroom 1 bath rental home near Lloyd Center. Wanting to get rid of it early next year. I'm breaking even with rent / mortgage payment. We lived in the home and loved it so we planned on moving back. However, we had kids so that busy area is no longer for us (on Weidler). Bought it while the market was still good so I'm not worried about loosing money, more concerned with having to slash the price too much. So how is is the market in that area? Will I be loosing if I sell it next year? Any information greatly appreciated.

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Your margin of "profit" (or loss) is going to depend on what you paid for the house originally. Profit on resale is primarily determined by what you pay for the home, not what you sell it at. Two years ago, owners were selling their homes at the top of the market, and those who made the real money were the ones who paid the least when they bought. In my opinion, selling the home now should reflect other needs/motives rather than mazimizing your investment...I bet you'll do better keeping the house, it's tax deductions, and better price appreciation in the future. Before you list your property, consult with your tax accountant get he whole financial picture!

The area around Lloyd Center (Sullivan's Gulch) is doing fine.
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0 votes Thank Flag Link Mon Dec 10, 2007
The sky is not falling ! You are smart in waiting a bit for sure, however, the market in Portland is much better than other areas thankfully. We will continue to see appreciation in the Portland area. Your home is in an area of Portland I am convinced will continue to remain strong. Fear not, keep the home well-maintained, and you should be in a fine position to gain from your initial investment.
0 votes Thank Flag Link Sun Nov 18, 2007
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