Thursday, November 13, 2014

Portland Home Values

Portland Metro Area home sales rose again this past month!  In fact, the number of homes sold were up 13.6% from the same month last year, and the strongest October since 2006.

Click here and read below to see how this can benefit you.

Hello Winter!

The good news continues as we head into the holiday season. The average price of a Portland home has risen 7.4% this year, and a combined 21% over the past two years!  What can we expect over the next few months?  Well don't be fooled, the holiday season and wet winter months are mistakenly considered the worst time of year to buy or sell a house.  In reality, these distraction-packed-months (November - February) carry benefits for determined buyers and sellers. Here are some things to think about:
  • A seller listing their home for sale in the wet winter months is committed to selling.  They understand what they're up against, and have decided to go for it in what is traditionally a stronger buyer's market. Buyer's who brave the wet winter months are also committed to their task. These buyer's typically "need" to find a new home.
  • A buyer could join the "herd" of buyers who are active during the traditional "good weather" months - and this competition for properties can mean buyers pay more, lose out on good-value listings, and receive less attention from swamped real estate agents and mortgage help.
  • Buying a home in the wet winter months can tell you a lot about what to expect from a property. Visit a house during a hard rain and you'll see for yourself. Drive by houses after a fresh snowfall and discover which are well insulated (snow on roof) and which are losing costly heat (no snow on roof). Tour a house on a very windy day and discover how drafty those old windows and doors can be.  Or spend some time in a house on a cold day and study how well it heats up everywhere, or not.
These wintry months can be a terrific time to be out home shopping.  So, what do you get from sitting on the ice too long? ...Polaroids!  Happy Holidays :)

Mortgage interest rates are super low at about 4.0%.  Call Brent Schreiber with Consolidated Community Credit Union at 503-872-9455 if you think it’s time to refinance or buy. You’ll be happy with Brent’s experience and commitment to serving his clients.

Please call me when it’s time to buy or sell a home.  I’ll work hard for you!

Darin Provost, Broker
Vintage Real Estate