Portland Real Estate Blog

This is a top 100 real estate blog in the world according to Feedspot.com. In particular, this is a local real estate blog written by a top 1% real estate agent in the U.S., Stephen FitzMaurice, Realtor. Stephen regularly reports on the greater Portland metro area’s real estate market including annual housing forecasts and best time to sell or buy a home reports. He gives home selling and home buying professional advice. He also writes informative articles on Portland neighborhoods and suburbs as they relate to the real estate market. Finally, he writes to inform the general public about real estate agents, such as annual average real estate agent commission reports and more.

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title insurance costs

What is Title Insurance and Who Pays for It?

October 25, 2021

Buying or selling a home means anticipating costs, some of which are closing costs. In Oregon, most of the amount needed at closing is for title insurance. This type of insurance isn’t required by law in Oregon, however, lenders require it to ensure a smooth transition from seller to buyer and to protect their own financial interests. But the need for title insurance doesn’t end there. So, what is title insurance, and why is it important? What is Title Insurance, and Why do You Need It? Holding “title” on a home is different from having a deed to a home. The deed is the tangible piece of paper that names the owner, whereas “title” refers to the legal right to ownership,...


best month to buy a home real estate

Best time of the year to buy a home in Portland 2022

October 22, 2021

Every year we write a best time of the year to sell a home and to buy a home in the greater Portland real estate market. I’ve been licensed to help people buy and sell homes in the area since 2003, and every year (except for 2020) the best time to sell and the best time to buy a home in the Portland market has stayed relatively the same. Seasonal trends in Portland real estate are as strong (and sometimes stronger) than annual trends. Our prior research shows you can be ahead $100,000 if you sell in the spring and buy in the fall. The best time to buy a home is the exact reverse of the best time to...


portland real estate market fall

Portland Real Estate Market – 4th Quarter 2021

October 18, 2021

It’s no secret we’re living in unprecedented times in the world of real estate. Market prices have risen across the country and so have home inventory supply and demand issues, all induced by the pandemic. However, according to the National Association of Realtors, the real estate market is slowing down this fall, median sales prices dropped 8.3% from June to August, nationally. They also found that the supply of homes on the market has leveled out and remained static since May of 2021. Does this indicate a cooling off period in the real estate market? And how does Portland align with national indicators? Let’s take a look as we near the end of 2021. Median Sales Prices for Portland Homes...


portland property tax

Portland Property Taxes Going Up in 2022

October 15, 2021

Multnomah County passed a new measure in May 2021 that will impact property tax payers in Portland in 2022. This is in addition to the three new measures passed in November 2020 and the usual 3% increase Portland homeowners see every year. Additional measures could be voted on in November 2021 that will increase property taxes locally in 2022. Why Do Property Taxes Go Up Every Year? In Portland, the 3% increase is based on a calculation that multiplies a home’s assessed value by the current going tax rate, which varies by county and city. In Oregon, the assessed value of a home for tax purposes is calculated by determining the value of the home in 1995, and adding 3%...


Whose Fence is it Anyway? How to Resolve Fence Problems with Your Neighbor

October 11, 2021

Living in a city often means living in tight spaces. Portland is no different, especially with the possibility of an increase in additions and new construction, thanks to the city’s new Residential Infill Project (RIP). Homeowners install fences on their properties for a variety of reasons: to keep pets and children safe, to serve as a tidy perimeter for landscaping, and to maintain privacy. It’s been said that good fences make good neighbors, but fences can also cause antagonism when disputes between neighbors arise over property boundaries. Here, we’ll sort through Oregon fence laws and local codes and restrictions and offer some useful tips for resolving fence conflicts peacefully. What Causes Fence and Boundary Conflicts Between Neighbors? Previous negotiation—Your neighbor...


Portland’s Hottest Real Estate Suburb, Surprise! – Mt. Hood

October 8, 2021

Without a doubt, the Mt. Hood area is known as a prime vacation and recreation spot for visitors. But with more and more city dwellers looking for solitude and space, Mt. Hood is becoming a popular real estate market for Portlanders. In fact, we’re adding it to our list of Portland’s hottest suburbs because the demand for this area far exceeded all other Portland real estate market suburbs in 2021. Nestled at the base of Oregon’s highest peak are several small towns, each with its own personality, all of which comprise the villages of Mt. Hood. Why not take a day trip to explore and see which one is right for you? Start with Brightwood and work your way south...


exp realty portland real estate

EXP Realty Exceeds 65,000 Agents, Growing Daily

October 4, 2021

About EXP Realty EXP Realty is a cloud-based brokerage founded on the belief that agents and brokers do the heavy lifting in real estate and deserve the benefits of being shareholders and earning income based on the level of their contribution. The international company’s core values focus on community, agility, innovation, and integrity, along with service, sustainability, collaboration, and transparency. These, along with a focus on fun—not taking yourself too seriously—have, not surprisingly, drawn top selling and buying agents from around the world History of EXP Glenn Sanford founded EXP in 2009 as the first cloud-based brokerage. By 2012, Sanford became recognized as one of the Top 100 Most Influential in Real Estate. After becoming publicly traded in 2013, the...


How Soon Can You Sell Your Portland Home After Buying It?

October 1, 2021

Buying a home is a big investment, one of the biggest in life for most people. According to the Zillow Group Consumer Housing Trends Report, the typical homeowner will stay in their home for 15 years before putting it on the market. This allows substantial equity growth and avoids financial loss through capital gains tax, mortgage prepayment penalties, and more. However, with the impact of COVID19 (just after that report was written) many homeowners are selling sooner rather than later. Also, many unavoidable life circumstances can suddenly force an unseen move, so it is good to know the implications if you need to sell a home soon after buying it. The 5-Year Rule of Thumb In Real Estate Consensus in...


portland new home construction

Portland New Home Construction Up or Down by the End of 2021?

September 27, 2021

2020 marked a noticeable drop in residential construction in the Portland Metro area due to the pandemic. In 2021, not much has changed. In fact, we’re seeing a marked slump in new home construction, despite recently passed, truly historic, higher density zoning rules in Portland. Let’s see how the Rose City is faring so far this year. This city of Portland website shows the numbers of issued, under review, and finaled (building has been completed) new home construction permits in Portland, Oregon. Let’s compare Portland’s 2021’s new home construction numbers to date with the past six years. 2015 931 2016 980 2017 917 2018 967 2019 697 2020 500 2021 571 Portland New Home Construction Permits Issued by Year As...


portland adu guide

Portland ADU Guide, 2022. Two Per Lot and Less Restrictions

September 24, 2021

Now that Accessory Dwelling Units (ADUs) are allowed in every city in Oregon, Portland will likely see an influx of home additions and new ADU construction, especially with the passing of the city’s Residential Infill Project (RIP) that went into effect this August 2021. If you’ve been toying with the idea of adding an ADU to your property, the new ADU guidelines will make it easier than ever before. Use the link to see the new 2021 official ADU rules. It is only six pages long, but packed with all the necessary information to get started. Additional Dwelling Units can enable you house a family member or make steady passive income, and you’ll also help manage Portland’s density problem. Two...