Buying a Home in Portland

Welcome Portland Home Buyer!

If you are thinking of buying a home in Portland, we are here for you. The below home buying articles are written by experienced, top Portland buyer’s agents who know the real estate market.

Top 1% Portland Buyer’s Agent

Kami Price, Principal Broker is our lead buyer’s agent and a top 1% buyer’s agent in the Portland metro area. Kami has been licensed since 2004 and has helped hundreds of local home buyers find their next property. She has a long list of awards and additional education certificates. You can put your trust in her to navigate your next home purchase with incredible skill. Her office phone: 503-773-0000.

Portland Buyer’s Home Search

We’ve looked far and wide to find the best Portland home search program out there. We recommend you give this one a shot! Our search program is updated every few minutes, you can filter by schools, view type, HOA, lot size, garage and much more (just hit the “more” button). You can get instant alerts, save multiple different search criteria, and more.

Home Inspection VS. Appraisal: What’s the difference?

June 29, 2020

Home inspections and appraisals happen in the vast majority of real estate transactions. They both involve someone physically coming to the home and making an assessment. And both can have an influence on the eventual success or failure of the home sale. Note: This article is not focusing on refinance appraisals. With refi appraisals, it is more frequent that an appraiser doesn’t have to come inside the home (though often they still must). The appraisal must come in at value to get the whole refi loan you want, but you could go for less potentially. In our experience, the lender may appraise the home higher than its worth in a refi because it knows you have good credit or strong...

First Time Homebuyer Loans, Downpayment Grants, and More – 2020 Update

May 15, 2020

Is 2020 your year to buy a home in Portland? Making the leap from renter to homeowner is possible even if you don’t have the traditional 20% down payment. From below-market interest rates to help from private investors, there is assistance available for all first time homebuyers. Read on for our updated list for 2020. First, some definitions: First time home buyer: Any individual who has not owned and occupied a primary residence in at least three years. Cash assistance: A sum of money that you don’t have to pay back, that goes toward the down payment on the home. This is sometimes also referred to as a grant. FHA (Federal Housing Administration) loan: A loan backed by the federal government,...

Portland Home Appraisals – 2020 FAQ

April 3, 2020

What’s the difference between the home inspection and the appraisal? Home inspections and appraisals have a lot in common. Both are key to the home sale transaction. Both involve a third party coming into the home to form an assessment. And both can be stressful for home buyers and sellers!  That’s about where the similarities end. A home inspection differs from an appraisal in that the inspection is performed on the buyer’s behalf, and the results will help shape the sales contract. A home appraisal is performed for the sake of the mortgage lender, and the result will only affect how much money the lender is willing to pay for the home. While a home inspector looks at the “guts”...

10 Reasons to Buy a Home in Portland in 2020

March 13, 2020

Buying a home is a goal that’s easy to put off until “next year”. Here are ten reasons why this year, 2020, is the year to become a homeowner in Portland!  Real estate values have cooled, but not for long. Five years ago, we were seeing rapid, 7-8% annual gains in Portland home values as the market rebounded after the Great Recession. More recently, 2017-19 saw a period of limited growth, and some home values even dropped a bit in the midrange of the market. In these first couple months of 2020, we’re seeing a strong real estate market with good indicators of growth: a strong Portland economy, low unemployment, and high demand for homes. We predict the Portland real...

Top 10 Costliest Mistakes for Home Buyers in Portland

August 23, 2019

Rock-bottom interest rates continue to lure home buyers to the Portland real estate market, just in time for the late-summer, early-fall drop in home prices. This is a great market — and a great time of year — to invest in a home or piece of real estate, but that doesn’t mean deals are guaranteed. Before you start home shopping, read our list of the most common mistakes that buyers make, with or without a real estate agent. 10. Waiting too long. Real estate market inventory levels hit an annual peak in Portland during the fall season. The most recent RMLS report showed 2.3 months of inventory; last year that number rose to 3.1 months in September before falling again...

Rent vs. Buy a Home in Portland – 2019 Update

August 12, 2019

The biggest question we get from a potential first time home buyer is: Which is more affordable, renting or buying a home in Portland?  Affordability is a multi-tiered puzzle. Potential Portland home buyers aren’t just impacted by their own finances — mortgage rates, property tax rates, home maintenance costs, and potential lifestyle changes brought on by the move (for example, being able to go down to one car and take public transit) all play a part.  Still, if you suspect that you’re paying more in rent than you would for a mortgage in a similar or better home, the first thing you’ll want to look at is what the total cost is for a home in Portland. In other words,...

Portland Home Loans – How to Choose One. 2019 Update

July 29, 2019

Talk about thousands of options, and you might be discussing the Portland home loan industry. Seems like every local Portland bank and credit union is offering home loans, as well as local mortgage only (or direct lender) companies, and now multiple online mortgage offerings are thrown into the mix. Where would you even start? Here is our guide to choosing the best Portland home loan for you. The two most important things to consider in choosing a Portland home loan are: The actual terms of the home loan are crucial. What is the interest rate they are charging? What is the loan origination cost (fees you’re paying them direct)? What are the total lending costs depending on your credit score...

Must Know! First Time Home Buyer Grants, Loans, Programs – 2019 Guide

July 12, 2019

As real estate agents, we love helping clients transition from renting to becoming first time home buyers in the Portland real estate market. The biggest hurdle to making that happen is the first time home buyer down payment. Second-biggest is probably making that monthly mortgage payment! Either way, there are first time home buyer loan programs out there to help, whether they’re from government agencies, private non-profits or individual lenders. Keep in mind that the following list of home buyer assistance programs is just a starting point. Financing your home purchase is a complicated series of decisions, and there are scams out there! That’s why we recommend home buyer education, whether you’re a first-time buyer or you’re re-entering the market....

How to Win a Home Offer – from Top Buyers Agent

July 1, 2019

Are you in the market for a home in Portland this summer? Whether it’s your first time buying a home or it’s just been a few years, let’s take a closer look at what goes into a successful home offer.   First, Portland Real Estate Market News If you’re entering the Portland home buying market this July or August, be prepared to compete with other buyers for in-demand homes in the below median price range. Homes in the lower price brackets are still in high demand, while the luxury market remains cool in most (not all) areas. Medium priced homes are selling quickly right now, but that market will cool a bit in July and August – our highest inventory...

Wire Fraud on the Rise: Protect your Portland real estate deal.

April 5, 2019

Homebuyer Aaron C. didn’t see anything strange in the email he received from his title company. As instructed, he wired them the $123,000 to complete the purchase of a Portland-area home for him and his family. The email turned out to be a plant from a hacker who had gained access to his email account. Instead of going to his title company, the money he wired went to a Chase bank account in Florida, where it was transferred away by the fraudsters before anyone caught on, according to the story reported by KGW News. Unfortunately, this type of scam is booming for real estate transactions across the country. In another prominent case in Oregon last year, homebuyers lost $379,000 to...