Best neighborhood to buy a house?

Asked by Joel Burslem, 97219 Mon Jun 4, 2007

Looking to buy, under $300K. Flexible with location but want to stay in Portland city limits. What are some neighborhoods I should be looking at, where I can get the best bang for my buck, best appreciation rates etc.?

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Jennifer Mon…, Agent, Charlotte, NC
Fri Jul 13, 2007
Hey Joel,

Wow! It's tough to find a good home in any neighborhood for that price, but there are still some gems that pop up from time to time. Hire yourself an awesome agent who spends a lot of time researching on your behalf. But to answer you directly, I agree that many of the SE neighborhoods offer some real value and great neighbors. Check out the Woodstock and Mt. Scott areas, Richmond, Sunnyside & Clinton are also worth a look. Drive around and get the 'feel' of the neighborhoods and you'll probably find a few nice contenders for your future home while you're at it! Best of Luck to you :)
3 votes
Jim Frey-Bro…, , Hillsboro, OR
Tue Jun 5, 2007
Best bang = HILLSBORO! you can still find great properties in and around the area for UNDER $300,000.....feel free to e-mail me!
2 votes
Darin Provost, Agent, Portland, OR
Thu Dec 6, 2007
Joel, this is going to depend on you. I suggest your first criteria being a location you WANT to live in. Treat your purchase as a home, not a house. In time, you'll realize a nice return...much higher than anyother investment considering the leverage of buying and average market appreciation rates over several years. When you're ready to buy an investment a rental then ask your good questions here.
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1 vote
Deb Counts-T…, Agent, Portland, OR
Tue Sep 25, 2007
Joel, under $300k in Portland is far easier than the media would have you believe. I am particularly fond of North Portland for appreciation - although I'm biased, as I live here!

Deb Counts-Tabor
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1 vote
Amber Gauntl…, , Portland, OR
Thu Sep 20, 2007
Lots of good advise from all who answered, but I must add the affordable North Portland neighborhoods (St. John's, Kenton, Arbor Lodge...) to your list to check out. There is much revitalization happening in North Portland, so the homes are appreciating at a steady rate (8.6%), and the neighborhoods are attracting new businesses/development/people. They also have a very different 'feel' from the SE and SW neighborhoods that were mentioned. I have clients looking under $200K in NoPo, so if you can go up to $300K I'm sure you could find a great buy!
1 vote
Jeff Kempe, , Lake Oswego, OR
Wed Jun 6, 2007
Good heavens, Joel, why aren't you blogging? FOREM is one of the best going.

Sellwood is still getting multiple offers, largely because many of the homes are under $300k. Great community.

1 vote
Mary, , Tigard, OR
Sat May 23, 2009
In my opinion, SW is one of the greatest areas to live...Tigard, Tualatin, LO, West Linn values are a little higher, but you will reap the benefits in the near future when the economy stabilizes. These areas have close proximithy to several parks, shopping, activities and are just minutes from downtown.
What realtors and sellers need to do is sell more homes with seller-financing. The seller can usually sell the home faster for a higher price, then in turn sell the note for cash after closing. There are many buyers out there that cannot qualify for financing and realtors are passing up some great opportunities. This senario is a win-win situation for both buyer and seller. The seller is able to sell their home for a good price and the buyer purchases a home without the red tape of points and added fees.
In this market especially, we need to be creative. There are many homeowners facing foreclosure, and would like a way out without damaging their credit....let's try to help them!! If you are a realtor or seller, I would be happy to assist you with your needs.
0 votes
Rose Mary Oj…, Agent, Portland, OR
Thu Jul 24, 2008
Contract with an experienced realtor (I'm happy to be of service) to give you the market trends for the variety of great neighborhoods in Portland and do your homework especially in an adjusting market. Right now, close-in Portland is your best bet, particularly as energy prices in the short term (I hope) remain a concern for most individuals. However, my best advice is to develop a list of "must haves" and start looking at properties to learn exactly what $300K will realistically get you in SW Portland versus other Portland neighborhoods. Best regards.
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0 votes
Troy Johnston, Agent, Beaverton OR, OR
Sat Jul 19, 2008
The median home price is higher then this number so I recommend you an area you like and pull the listings. An area like hillsboro for example will have many to choose from vs a zip code like your in 97219. Hillsboro has some great deals and most are not on the market long so you need a agent in that area. 97219 will have access to portland, lake oswego, PCC and I-5 etc. but limited on houses to view. Limited number of houses usually means house value will increase if you can avoid being the smallest home around. SW is my recommendation or SE near the max and buy something cute not new in SE but new as possible in SW as they make good rentals.

Make sure you go with experience and check out my listing near you as it might be a good one to start the search process and compare too.
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0 votes
Tom Inglesby, Agent, Portland, OR
Mon Jun 9, 2008
Location,Location,Location is the only word when buying real estate. If you want the best neighborhoods for resale value then closein matters. There are great areas eastside and westside. All of these areas are doing well and are showing very little if any drop. When you get under $300,000 this is under the Portland average so the price is steady with first time buyers where most buyers start. You need to make a top 10 list of things that you must have. Then go out and look for these things and see if it is possible. Is a easy commute to work or transportation or walk to shops or resturants a fixer or a style like 50's ranch important? These homes are in different areas. Transportation on the westside is a challenge for most people with buses about 1/2 mile apart. Biking to work is easy on the eastside with only a few routes on the westside to go into town.You have to start somewhere. I have lived close in my whole life since I like the location and this is what sells when the market slows in the suburbs. Give me a call.

Tom Inglesby, Broker
RE/MAX Equity Group Inc
Portland, Or 97239
0 votes
Dirk Knudsen, Agent, Hillsboro, OR
Fri Jan 11, 2008
The Future of Real Estate Blog Man Himself? Joel. I love your stuff man. I bet your at Inman right now! Well this is an old question I know but I just joined. NW HILLS. Near St Vincents...Forest Heights area. It can be done! Also are 148 near Alpenrose and Multnomah Village. Anyway I ramble. If you need help I am here and hey I handle he Lendingtree Program and you can save some nice $$ as a buyer even in Oregon!

Best wishes;

Dirk Knudsen
"the Real Estate Doctor"
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0 votes
Pete, , Portland, OR
Tue Dec 4, 2007
Hey Joel, i would suggest researching neighborhoods in the North Portland area. To answer your question directly i would say the Mississippi st neighborhood. It is close to downtown, has a community feel, a nice strip with retail, food and nightlife, easy access to I-5, and housing seems relatively affordable. Heres an article on the area
0 votes
Eoin Bastable, , Roseway, Portland, OR
Tue Oct 30, 2007
Roseway and Rose City Park are excellent neighborhoods which offer superb access to parks, shops and restaurants. They are still very affordable and offer some more space w/ basements and large gardens often an added bonus! Definitely an up and coming area in NE Portland.
0 votes
ta, , Portland, OR
Wed Sep 26, 2007
Nothing compares..St. Johns is a River Front Neighborhood with history dating back 100yrs..The bridge and the architechtual significance, the long term residents, and city backed density makes this the best place to invest or buy...Check out this nice virtual tour that I did of the community, to showcase the area for the tri-plex that I own, and am selling for only $289,900 on N. Lombard Way :) I've lived and worked in the area for 13 years, and would never leave.
Tanya Feliu, Broker.
0 votes
Rena Apon, Home Buyer, sw pdx/ beaverton
Mon Jul 30, 2007
there is a great house in cedar hills on sw greenwood st for sale under $300, updated and in a great neighborhood, close to mall, max and freeways (217 and 26). check it out on rmls, I don't know the number but the zip is 97005, grade school is william walker. washington county is still on the rise where the market is concerned, plus we don't have to pay multnomah county tax!
0 votes
Deanne, Home Seller, Portland West Side
Mon Jul 30, 2007
If you want to stay wIthin Portland's city limits is a condo or townhouse an option? On the west side of town, there are condos off Barnes Road, and others off the Sylvan exit from Hwy 26. These are less than 10 minutes from downtown.
0 votes
Nell, , former Portland resident expecting to return
Mon Jun 4, 2007
IMHO one doesn't buy a house, you try to find a home. Good homes are in neighborhoods with a strong sense of community. There are neighborhoods of SE Hawthorne that might meet my needs if I were young and up do maintaining an older home. The land is flat, not difficult to ride a bike to work. The area has a real sense of neighborhood.

Portland has a number of neighborhood associations. Some have websites. They will tell you what the residents are concerned about and can point you to areas to consider.
0 votes
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