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Market Conditions in 97267 : Real Estate Advice

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  • Home Buying0
  • Home Selling2
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Activity 56
Mon Jun 2, 2008
Chris Aldridge answered:
"Realtors like to inflate the square footage...?" Hmmmm... we do? Actually, depending upon which city and county the property is located in, you will usually find that 10-30% of the properties have inaccurate measurements in the tax assessors records.

Realtors(R) are bound by state licensing laws and subscribe to a Code of Ethics which very clearly specify the importance of providing accurate information to the client, the consumer and all parties involved. To inflate the square footage strikes me as misrepresentation and/or fraud...
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0 votes 28 answers Share Flag
Thu Apr 3, 2008
Kelley answered:
Hi there,

I plan on selling my home in Hillsboro (a 3 bedroom 2 1/2 bath 2005 home with lots of upgrades and a great view of Jackson Bottom Wetlands) but also considering renting. If you'd like to know more details contact me at toitle31@yahoo.com Cheers, Kelley ... more
0 votes 1 answer Share Flag
Mon May 5, 2008
Dirk Knudsen and Kirra Krussman answered:
OK.


Great question. Here is your answer. Follow the Jobs! Pick a low crime area where there are good schools and hardly any new homes being built. That is the key.

For my money I would head out to the West Side into the Silicon Forest. Rents are up and JObs are still coming in. This is the area where Intel, NIke, Columbia Sports Wear, Google, Yahoo, Solar World, Genentech, etc.... are all locating thousands of jobs. These communities would include Beaverton (West and North), NE and NW Hillsboro, Orenco, Bethany, and Cedar Hills.

Rentals are HOT up here and new construction is lacking. You should be able to find a Rental in the MId $200's or even a Condo in the Mid $150's. These areas also feature good schools, low crime, and almost no new apartments. Rentals are getting harder to find up here.

This is a great question and this is a perfect time to pick a home up!

Best Wishes. Visit my website and check the MLS for a list of homes.

Thanks again;

Dirk T Knudsen
Re\Max Hall of Fame
# 1 Rated Re\Max Team in Oregon
503-799-8383
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0 votes 10 answers Share Flag
Tue Oct 6, 2009
Chris Courtney answered:
Hi Julie, well...this is a tough and good question. I vote for the garage for better resale...but you have too consider each neighborhood has a different appeal factor such that land values may vary between the two. For example, a 5,000sf site may be worth twice as much as a 10,000sf site in a different neighborhood (obviously an inferior neighborhood). In any event, people have cars and like to park them in a garage or port area.

I am a State Certified Residential appraiser of 15 years, principal broker & owner/founder of www.HouseNow.com. As an appraiser, when comparing market sales, pendings or active offerings we do our best to stay within the same neighborhood. Within that neighborhood, we measure difference for units of comparison such as site size, living area, bathrooms, and/or garage count/area. A garage is an improvement whereas a large, rear yard is an amenity.

Let us say, when comparing two properties on the same street, that site sizes are the same when comparing two properties. The only difference is that one property has a garage which consumes some of the yard (rear, alley access) and the other home has a large rear yard (like you are presenting in your question)...you will likely realize a higher resale value for the property having the garage...logically, you would price it higher. However, the amenity of a large, sunny rear yard is often unquantifiable....but you can always describe your large, sunny rear yard as being of a size too accommodate a garage...such that you appeal to TWO types of buyers: one that needs a large yard and the other that needs a garage. Hope this helps. You are comparing an apple to an orange, but both can be tasty.
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0 votes 10 answers Share Flag
Mon Mar 3, 2008
Elisha Joyce answered:
Hey Chris - I love how you think! YES - I agree with you. Even though you may not get top dollar on your sale (I say may because price depends on many factors), the fact this is a buyer's market gives you an advantage on the other side that could very well make up for a possible compromise on your sale price. Now, because you are in an urban NE area, the market is very different than it is in the more suburban and outward lying areas of Portland. Close-in homes are always in demand - so, while the market as a whole may be flat, depending on your location you may have a micro-market that still comands quite a "good" price with all things considered. So - go for it! Especially considering spring break is right around the corner and people are starting to plan for summertime moves and new schools, there is no time like the present.

Let me know if I can help in any way or answer any more questions :)
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0 votes 5 answers Share Flag
Fri Dec 7, 2007
Gail Hiebert answered:
Hello Darin. On the West Coast, where a worked for years as a realtor, my best investment was in a specific website developed and prepared by a company called Consultnet. This was a great site that pulled many out of town buyers for me, due to their marketing effort and if I were to be ambitious in real estate, I would definitely use them. ... more
0 votes 2 answers Share Flag
Thu Dec 6, 2007
ian cockburn answered:
1) See a real estate attorney that has done such transactions
2) Check what are the local code requirements
0 votes 4 answers Share Flag
Thu Dec 6, 2007
Julie answered:
$300-375 is a reasonable range for house-sharing.

I suggest you consider a house or Condo-sharing arrangement.

Search offerings at CraigsList (& teh Portland Roommate Referral Service) first, then create your Ad.

Include your usual work hours, that you are a non-smoker, & non-drug user,
and say so if you are vegetarian, a neat-nic in the kitchen, an avid recycler or composter,
if you are gone alot - & when. All that can help.

If you love to garden, or BBQ - or hope for garage or workshop space, please say so.
Are you bringing furniture?

Also include if you have pets, or are pet-friendly; or include a cat-allergy if relevant to you.
Prepare contact info for a couple of rental References in advance.

Using the Bus and Bikes is also a great bargain & an environmentally savvy,
easy way to go...I've done it for 15 years and use the savings to travel overseas.
Consider transit routes as you make your decision, at: www.tri-met.org

Good Luck!
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0 votes 2 answers Share Flag
Mon Dec 10, 2007
Norm Rice answered:
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. ... more
0 votes 2 answers Share Flag
Tue Jan 8, 2008
The Hagley Group answered:
Are you getting positive cash flow? As a realtor and an investor, my personal strategy is to accumulate as much as possible.
0 votes 5 answers Share Flag
Wed May 21, 2008
#1 answered:
Real Estate is a great profession to get into.

Good luck on your exam.
0 votes 14 answers Share Flag
Sun Sep 30, 2007
Mike Kelly Allison Norman answered:
In the past 7 years home prices have been driven by GREED! And Greed knows not an age or generation, not a race nor a religion, Buick or Prius! What currently drives the market today is FEAR! So I'll let FDR explain in his most eloquent way the current market:

"I am certain that my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our people impel. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory. I am convinced that you will again give that support to leadership in these critical days."
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0 votes 2 answers Share Flag
Mon May 5, 2008
Elisha Joyce answered:
No - don't wait to buy! There are many deals to be had right now and it is a great time to pick up rentals - especially in the SE area. (I've seen some properties under $300K recently that would be great rentals!) I recommend the Sunnyside/Hawthorne/Woodstock areas for investment properties because prices have come down a little in those areas on houses that are in need of some sweat eqity... but whatever you buy will continue to appreciate because those areas will never go out of style. ... more
0 votes 4 answers Share Flag
Sat Jun 30, 2012
Ron Ares answered:
Pricing depends some on where you're looking. If you're looking in the city center, prices are flat, maybe even down some from earlier in the year (inventory is way up).

In Lake Oswego, where there is *some* scarcity of inventory, prices are still appreciating. You'll find about 150 units with 2+ bedroom units priced between $145,000 and $1.4 million. Several of the listings are condo conversions that have just been released.

Not to seem self-serving, but I recently reviewed the condo market:
Downtown only: http://www.repdx.com/2007/08/29/downtown-portland-condo-report-august-2007/
Portland metro area: http://www.repdx.com/2007/08/27/portland-condo-market-update-august-2007/

Hope that helps.
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0 votes 21 answers Share Flag
Sun Sep 19, 2010
Jennifer Monroe answered:
You are absolutely correct about the micro-markets in Portland. The PDC development area is offering so many wonderful options for both builders - by waiving their system development charges when they elect to build within these designated areas - to a 10 year property tax abatement to the buyer of those homes, within certain income limitations.

Another fact is that while we are slowing down here in Portland a bit, we are not yet caught up in the extreme slow downs the rest of the nation are experiencing. So your best bet is to get a competitive market analysis from a terrific broker and see how it looks if placed on the market right now. What will the proceeds likely be? And how will that information for into your plan for your future.
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