It used to be that we're were only supposed to count finished rooms in the square footage in RMLS. Now we count finished and unfinished, but not crawlspace or attics. It works much better this way, as the old system never really worked- too many agents would fudge things and include raw or unfinished sq ft in RMLS listings. It was changed a long time ago- I'm not sure, but probably 10 years ago.... more
According to housing inventory stats, a balanced market is 6 months of inventory. Average inventory levels in the Portland Metro area are much lower, which puts the market as a seller's market. However, it is still a great time for buyers since prices are still very low and interest rates are also low at the same time!
This question totally depends on your budget and long term goals. The Pearl is a great location for Urban living, but it does tend to run a little higher than other locations. If you know this is your lifestyle, then lock in the great prices and low interest rates now. If you are unsure or see changes in the next few years, then you might be better suited renting. There are calculators on Bankrate.com that can also help to guide your decisions from the financial point of view. Good luck.... more
Very hard to say. I value homes all over the county for banks. Its spotty to say the least. In general, I feel Oregon has not bottomed out and has around 15% more to drop but there are some surprising areas that have continued to increase. Hazelwood in near a hospital and close to the freeway. That can be good oir bad, depending on the proximity to each. Noise, view, etc. People with long term employment at the hospital will always be potential buyers. Some of hazelwood will be dropping, most will be NEUTRAL for 2 to 5 years and some will increase but not over 5%-8% or so for the next 3 years at least. That doesnt give you a lot of info---one must be very careful if counting appreciation in the analysis for a purchase. Contact me on specific streets for more ino. Marvin Von Renchler... more
I have the exact answer for you.
If you are in 1221 SW 10th Ave (6 active on the market), the active on the market price per square foot right this second is exactly $500. The pending price per square foot (4 pending right now) is $377 a square foot. The sold price per square foot for the last 6 months (10 have sold) is $378 a square foot.
Top 10% Agent in the U.S. Please take a moment to review my premiere marketing program at the link below.... more
This listing has been cancelled and it is in the foreclosure process HOA dues are $243/month.
The HOA is in litigathion and conventional financing will not be possible.
Do you need a loan? Are you looking for a good buy for yourself to live in or for an investment? We can help you.
Best regards... more
Generally speaking, for active condo listings in the downtown area, the average price per square foot is approximately $358. For properties that have sold in the past 3 months, the average price per square foot is $311. The corresponding price per square foot based on the listing price of those units sold is $325. So the units that have actually sold have an average price per square foot that is lower than the average price per foot of the currently active listings. Of course, the downtown area has several different neighborhoods and the price per square foot may be different depending on the area you would like to live. The price per foot also changes depending on the building or complex.
Your second question is more difficult. Only the tax assessor knows for sure about the correlation between the actual market value and the County's market value. Some properties show a County market value that is very close to the actual market value, while others are way off the mark.
I would be happy to talk with you further about the specifics of the property you have in mind.
Real Estate Broker, J.D.
The Portland Home Team
Keller Williams Realty Professionals
9755 SW Barnes Rd. Suite 560
Portland, OR 97225
Combining a lawyer’s experience
with a passion for real estate.... more
I am a Realtor and seasoned investor (own 3 duplexes + one house + one condo as investments). I have blogged over the last 3 years on my site ( www.fabulousportland.com ) about my ups and downs in the investment market. All I can tell you is they are the best performing investments (vs stocks, bonds, mutual funds) that I own. Tenants pay PITI while you enjoy whatever cash flow & tax advantages...a very good deal. Problem is, I'm out of the country visiting family for next 3 wks...back 10/23. We can talk...jj... more
The average marketing time / days on the market in Portland is approximately 149 days (as reported by the RMLS in a monthly report dated 7/2011.) This is for the entire metro area. Specific areas will see different average days on the market depending on numerous factors including the appeal of the neighborhood, number of homes for sale in the neighborhood and other factors.
I hope that helps.
Keller Williams... more
Did your real estate agent mean/say an FHA 203k loan instead of a 401k loan?
Real estate agents normally do not give advice regarding where your down payment/funds to close on the home needs to come from (which is really the only purpose a 401k loan would have in relation to buying a home), so I suspect the real estate agent was saying you needed a FHA 203k loan because the particular property you were looking at needed some repairs in order for a lender to want to lend on it.
The FHA 203k loan is a rehab loan, where the loan amount is based on the purchase price + the cost of the rehab/improvements that are to be done on the property. You can read more about it in tremendous detail at:
http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/203k (click on the first link called "Rehab a Home W/Hud's 203k Rehab Program" to get a very thorough overview of the loan program).
Do you think that is what your real estate agent meant/said instead of a 401k loan?... more
Well, in general rent to own, it just forces you to put some extra money away for the down payment and you must buy within a certain time period. I think you are better off just renting and saving on your own. Then, you aren't forced to buy that home you are renting.... more
I am going to say no. They have not dropped that much if at all. In fact they were on the increase and than about Feb they seemed to flatten. Buying is way down so renting should be strong. But the 12% unemployment we are experiencing has a lot of Uhauls headed to points North and South. To me the vacancy is still relatively low and demand is off at the same time.
This equates to a state of equilibrium and prices should remain fairly level with some incentives being given to get someone in. Are you trying to rent a place or trying to rent something??... more
This will continued to be one of the most asked questions in 2009. Since no one really knows, it is best to familiarize yourself with as many stats as possible. You can sign up for what I consider to be the best source of statics on my website below. I would be careful about listening to anyone who thinks they have a definitive answer to this question.... more