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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Real Estate Market News

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Portland Real Estate Market – Final Update 2020

December 21, 2020

2020 was a record-setting year in the Portland real estate market. Every month, the Regional Multiple Listing Service, or RMLS, publishes detailed statistics on the local real estate market, including how many homes sold in the Portland metro area and for how much (average and median price). The most recent update shows that inventory hit a record low, 1.0 months in November. Mortgage rates also hit a record low in mid-November, bringing more buyers to the market. Ever-rising home prices may inspire more home owners to become sellers in the coming weeks, loosening the tight inventory situation we currently find ourselves in. Between November 2019 and November 2020, the average sale price for a Portland-area home rose 7.1%. The current...

Top 5 Home Siding Types & Repair Methods

December 18, 2020

Have you checked your home siding lately? Repairing or replacing siding is a common home maintenance requirement, and something buyers will be looking at when they tour your home. Here’s our guide to the best products and fixes for home siding. Portland’s Top Siding Materials 1. Fiber Cement Sustainable, highly customizable and durable, fiber cement is a very popular siding material among Portland builders and homeowners. Although it ranks among the most expensive for material and installation, low maintenance costs over time can help offset the upfront cost. In addition, return on investment is higher for fiber cement than vinyl, according to Remodeling Magazine. Fiber cement is made from a mixture of wood fiber, sand, clay, and Portland cement, and...

Buying Portland Investment Property: 5 Things to Know in 2021

December 14, 2020

From market conditions to zoning rules and rental restrictions, here are five essential facts for potential Portland investors. 1. Real estate investment is not for everyone At its most basic level, the idea of becoming a landlord and receiving, on average, a 9% return on your investment, seems like a no-brainer. However, successful real estate investors take the job pretty seriously. They calculate how much the property is going to cost them (up front and ongoing), versus how much they’re going to earn on the rental, before they even make an offer. They also take personal stock of their skills in management, home-maintenance (there’s going to be a lot of that), and legal processes. Do your research, read a book...

Portland Real Estate Deeds and Titles FAQ: 2021

December 11, 2020

Transferring ownership is at the core of real estate transactions, yet few buyers and sellers truly understand the legal process behind deeds and titles. In this article, we answer some of the most common questions we hear from our real estate clients on this topic. What’s the difference between the deed and the title? The big difference between a deed and a title is that the deed is a piece of paper, and the title is an abstract concept: The rights of ownership. Put another way, the deed is the document that names the legal title-holder of the property. Why do I have to pay a title fee when I buy a piece of real estate? In Oregon, as in...

2 out of 3 Home Buyers check the Home Energy Score

December 7, 2020

Portland has a unique law that requires home sellers to obtain a Home Energy Score Report before listing their home for sale on the MLS. It allows home buyers to compare energy efficiency when shopping for homes. Each home receives a score between 1-10, with 10 being the most efficient. Read more about the program here. This law has recently expanded to Milwaukie, Oregon, and is poised to start in more cities around the state. The year 2021 will mark the three year anniversary of the Home Energy Score requirement. Let’s take a look at how things are going, whether home shoppers are actually using the Score, and whether the requirement has had any negative impacts on home sellers. Do...

How to Sell a Vacant Home Safely.

December 4, 2020

Going away for vacation is one thing; leaving a home empty for weeks or months on end is asking for trouble if you don’t take some preventative measures. A huge number of vacant homes are sold in the real estate market every year. These vacant homes are vulnerable to pests, floods, crime, and more. Yes, homes are selling quickly on the greater Portland real estate market right now (in an average of 38 days according to the most recent RMLS report), but add in closing time and your home for sale is still going to be vacant for two to three months, minimum. Follow these real estate agent-approved tips to keeping your vacant home in good shape, for however long...

#1 Home Search Website for 2021 – 5 Reasons Why

November 27, 2020

We are not arguing this home search website is #1 because it is the prettiest site to search homes for sale. We believe this website is number one because it is the smartest and most effective way to find the home you want and get the best deal while you’re at it. Most home search websites are prettier or easier to use versions of each other – this one is outright unique. 1. Type in any Word – Find a Matching Home. Seriously. Want to find a home with a sunset view? South facing door? Gazebo? Indoor pool? Only interested in Mid-Century Modern or Victorian homes? Want to find homes designed by a specific architect? Require a river, ocean, or...

Whose Fence is it Anyway? Resolving Problems with Neighbors.

November 23, 2020

With all that’s weighing on fences, it’s no wonder they’re a frequent source of conflict! In Portland, homes are constructed in some pretty tight spaces, and losing even a few inches of land to a neighbor can feel untenable. The appearance and upkeep of fences is also important, not just for aesthetics but also because fences are relied on to keep pets and children safe. In this article, we’ll attempt to untangle Oregon fence laws, as well the local codes and restrictions that affect their design and use. We’ll also provide home owners and buyers with some practical tips for resolving fence conflicts peacefully. When Fences Turn Contentious As Portland grows and adds more housing (every lot in Portland can...

Portland Property Taxes Higher than Ever – 2021

November 20, 2020

Portland passed three new ballot measures this November that will increase property taxes in the city. But even if these measures had failed, property taxes would still go up for homeowners in the Portland metro region, because of the way our tax system is structured. A new report shows that Portland was #5 in the nation for highest property taxes (before this tax increase), but the reason has as much to do with home value assessments as it does the new bonds and levies. It will be interesting to see how Portland ranks in 2021 – will it have the highest property tax rate in the nation? Why do Portland property taxes increase every year? Property taxes are calculated by multiplying...

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Stephen FitzMaurice

Team with eXp Realty