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Home Buying in Portland : Real Estate Advice

  • All924
  • Local Info70
  • Home Buying373
  • Home Selling68
  • Market Conditions37

Activity 260
Fri Dec 21, 2012
Tom Inglesby answered:
Our rental pool is less than 4% vacancy rate. You can rent a condo for about $2 a foot. This usually will not cover all your costs when you figure the HOA'S and taxes but in the long run freezing the price at today's interest rate 3.4% is a good idea as we are starting to see a turn around in values over this past year and they said in the news this week that they are not really looking to start much of anything in the next year except maybe one condo project so the market there will become tighter than it is now. A house is always a better rental choice but you have to look at what want to do? Managing a house from a different city is hard so you would have to pay a property manager 9% to collect the rent and find some one to mow the lawn and clean the gutters where if you had a property manager screen the tenants and only charge 1/2 months rent and then turn over to you because when living in a condo you only have to worry about interior issues it is much easier. Love to help you and I understand rentals and prices. Give me a call. Thanks,
Tom Inglesby, RE/MAX Equity Group
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Wed Dec 12, 2012
Barbara Hahn answered:
I am a real estate broker so my expertise is in helping people to buy and sell real estate. Your questions would be best answered by a mortgage expert. I have one who is excellent and could help you with just a phone call. Her name is Bev Liesy, Mortgage Express. You can reach her at her office at: 503-353-8977 or direct at 503-475-8125. When you're ready to buy, I would be happy to help you. ... more
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Wed Dec 12, 2012
Marvin Von Renchler answered:
Dont know which area you mean---overall for the number of people in the three main counties there are relatively few manu/mobiles. In southern Oregon are many of them. Also, compared to what? Oklahoma or West Virginia? Many states have far more. That sounds defensive but Im not being. I just want to completely understand your query.

Owned or rented? Well, if the land is part of the package it wll be much more. Mobiles not affixed per code to the land are not real property and are sold like a car, more or less. Manufactured housing is in several categories. Out in the countryside we have more regular manufatures homes because they were cheaper to put up than building from scratch. Many of them are actually superior in ways such as insulation, wall thickness, floorplans, etc. They dont re-sell as well though. There are only a few communities around that are all manu's on a large leased parcel. Thats easy to tell by the address. If you are looking through a Multiple Listing Service of some form then it tells what type of property and ownership. If you are trying to buy a manu/land combo then be aware that financing is almost non existant!
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Thu Oct 12, 2017
Tracey Hicks answered:
Hi Martin! I live in NW, zip code 97210 and love it. Close enough to downtown but not too far away. Multnomah Village area is also great. Rent in Portland has also gone up a bit, but still manageable.

Do you mean is it easy to rent out your house if you buy it and want to rent it out at some point? If that's what you're asking, yes-it is right now, that may change over time, but I think there will always be a rental market in Portland, people come here to see if they love it, they love it and stay;)

Our website has a home search or if you want more particulars, just let me know!

Good Luck, you'll love Portland if you don't already.

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Wed Dec 12, 2012
Yes but the lender pool is not too deep. The manufactued home must not be a single wide and the age will matter as well as the size of the property. It will of course have to be on private land that you are also purchasing and be on a permanent foundation. Some lenders may require more down and the rate is a tad higher than your vanilla FHA loan. ... more
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Thu Jun 13, 2013
Jason Miller answered:
Hi Gary!

Please feel free to contact me directly, or visit MillionDollarListingPortland.Com for acess to the local MLS system. It'd be my pleasure to run a custom search through the MLS system to see if theres anything that you'd like to go and take a look at! Have a good one-

Jason C. Miller
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Fri Dec 7, 2012
Lana Lavenbarg answered:
It is easiest to check into areas you want to be in by looking on line at the statistics and information provided by the police force-it will be more accurate and you can choose from there easier-then trying to rely on an agent that may have personal preferences yet not be the preferences of your own! ... more
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Sun Oct 28, 2012
Lana Lavenbarg answered:
Tue Oct 16, 2012
Torrey Nelson answered:
I would definitely recommend the Pearl District. Based on what your looking for you'd love it! It has everything youre looking for.
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Sat Oct 13, 2012
Vince Kingston answered:
I have addressed this several times. The underwriters I work with generally will accept rental credits from a primary residence that has been vacated after 6 months. So if you can show you have vacated the underwater home and rented for 6 months, they will allow you to use rental credits to offset or exonerate you from that mortgage liability so you can qualify for the next property. ... more
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Mon May 4, 2015
Larry Baird answered:
In Oregon they are required to be present, up to date and functional in all rental units, single family and multi-family alike, effective August 1, 2011. The fire marshall can make, and has made, spot inspections and levy fines if not in compliance. ... more
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Wed Oct 3, 2012
Joyce Zilai answered:
Seller's agent should be fighting for that second appraisal. In the meantime you could put in an offer at the lower, appraised value. They already know they can't get it funded above that until it is re-appraised. ... more
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Mon Feb 11, 2013
Keenan Driscoll answered:
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Wed Oct 3, 2012
Eric Steindler answered:
Trulia and other sites like Zillow don't take into account the condition of the home, just square footage and properties nearby that sold. If property is very similar to it' neighbors that recently sold, it is more likely to be accurate. If it's in poor condition, a different size, style, remodeled extensively, etc, it will be less accurate.

See how we market homes
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Sat Sep 22, 2012
Ron Thomas answered:
That would mean that they have an OFFER on the property:
It could be that they are in a CONTRACT, but that the Escrow has not Closed.
Or, it could mean that the OFFER has not been ACCEPTED yet.

It definitely means that the property is in Limbo; tied up for now.
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Tue Sep 18, 2012
Tina Lam answered:
Since we're not mind-readers, we can only guess at what he's likely trying to accomplish. If you're in a competitive situation, the listing agent may be doing you a favor by keeping you in the backup position, just in case the offer under contract falls through. Even if he's totally confident about the offer, there are no absolute guarantees that it will close. Anything can, and often does, happen, especially with financed deals. ... more
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Sat Sep 15, 2012
Tom Inglesby answered:
An offer that is in second position in line is not what we would call a back up contingent offer. A back up offer not a second on a contingent offer because most of the time they are bumpable with some kind of a dead line. Tom Inglesby ... more
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Sat Sep 22, 2012
Regina Ferron answered:
Hi Sonya, I would say yes! If the current buyer has an issue and has to cancel escrow, you will be next in line.
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Fri Sep 14, 2012
Wayne Olson answered:
Hi Sonya,

RMLS recently added a new status for short sales: Short Sale Pending. Most likely this is what the various websites you are looking at are trying to capture but haven't been able to because the addition of the new status (SSP) is still too new.

What is likely the case is that this property has received an offer which the seller has accepted and sent to the bank for approval, but the bank has not given that approval yet. Technically the property is still on the market. Once the bank approves and accepts the buyer's offer, the property will go off market and be marked as "Pending."

I hope that helps! Feel free to call or email with additional questions.


Wayne Olson
Windermere Cronin & Caplan Realty Group, Inc.
Lake Oswego, OR
(503) 389-3025
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Wed Sep 12, 2012
Linda Heinrichs answered:
You should contact an attorney to help you, but at the very least contact your lender via phone and in writing to let them know what your plan is. If you need assistance with a short sale, please call asap - we are successfully helping sellers in these situations. ... more
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