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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How Long Does it Take to Sell a Home in Portland, Oregon?

September 7, 2022

If this report was from quarter one of 2022, it might feel like one weekend, or just a few days. However, inventory is always the highest in the fall in Portland, and combine that with rising interest rates, and the average number of days it takes to sell a home in Portland, Oregon right now is pretty high. Homes in the Fall and Winter take Longer to Sell During the best time of the year to sell a home (March – May) days on market is always pretty low. But during the seasonally best time of the year to buy a home (July through September) inventory is high and days on market get longer. Average Numbers of Days to Sell...

2023 portland real estate market forecast

Portland, Oregon Real Estate Market Forecast for 2023

September 5, 2022

The Portland, Oregon real estate market has had a tremulous 2022 with soaring prices combined with historically low inventory in quarter one and two, and then soaring inventory with stagnant prices in quarter three (and significantly fewer closed sales, reduced homebuyer activity) and soon to be falling prices in quarter four. Of course, the main shift in the market came from rising mortgage interest rates. There is a lot of concern in the real estate industry with a focus on what to expect in 2023. We’ll start with national forecasts and then move onto Portland’s. I’ve been selling real estate in Portland for 19 years, getting ready to approach my 20 year celebration, with over 2,000 home sales. For more...

Which 3D Home Tours Sell Homes Faster and For More Money?

September 2, 2022

It makes sense that in this day and age, 3D home tours on real estate listings positively impact home sales. But just how much they do may surprise you. In this article, we’re looking at national studies to shed some well-supported light on the subject of real estate technology. While professional photography, virtual staging, and floorplans are all important tools be to considered and used when selling a home in modern times, we’re focused on the rise of 3D virtual tours here. After reading, we think you’ll agree that 3D home tours should be standard for every home listed by today’s real estate agents. What are the Types of 3D Tours Used to Sell Homes? What 3D video tours accomplish is...

What is a Victorian Style Home in Portland?

August 31, 2022

Portland is full of old, historic homes, many of which were Victorians, some of the first to help establish the area as a city. There are also plenty of newer Victorians, designed and built during revival periods for those who love the romantic whimsy found in much of this style of architecture. Most of the features found in Victorians are attributed to the Victorian era, specifically (1837-1901) when Queen Victoria was in power. Her love of beautiful excess is evident in the features of this architectural style. Maybe one of the more pervasive styles in history, its reach extended all across the UK, New Zealand, Australia, and North America. What are the Features of a Victorian Style Home? Distinctive in...

Asbestos in Your Home. What to Look for, How to Test.

August 29, 2022

In the past, we’ve written about a variety of Portland home hazards all home owners need to be aware of, from underground oil tanks and radon to mold, floods, earthquakes, and landslides. There’s another one to keep in mind when preparing to invest your hard-earned money into a new home—no matter its age—or preparing your current home to list it on the market. Asbestos! As real estate agents serving the Portland metro area, we understand the importance of not only helping clients successfully sell their homes for the highest possible price, but to provide both sellers and buyers the latest information about potential hazards Portland homes might have. Most of us think of asbestos as a material used in construction...

Real Estate Agent Reviews Guide 2023

August 26, 2022

Finding the best real estate agent for your needs can be a challenge when there are so many to choose from! Whether you want to sell your home or buy a home, there’s no doubt that you have to sort through a lot of information to get the most expert help possible. Of course, there are plenty of sites that provide agent reviews, but how do you know which ones to trust? Is anyone moderating them, or can just anyone post a positive or negative review whether they’ve worked with an agent or not? And did you know that searching for Realtor reviews can sometimes cost you money? Keep reading to learn more about which sites provide the best real...

HOA Fees Have Inflated 20% in Portland, Oregon since 2020

August 24, 2022

Many condo complexes and high rises in Portland, Oregon have high monthly HOA fees can cost as much as half the monthly mortgage payment (or more). Many condos and townhomes now have HOA fees well over $1,000 a month. Needless to say, it is important to pay attention to HOA fees when buying or selling real estate in Portland, especially considering recent inflation driven HOA costs. HOA Fees are important. You can lose your home. It is crucial to have some sort of way to compare HOA fees within a greater metro. If you’re living in a HOA now, how would you know if your HOA is charging too much (or even not enough)? If you’re shopping for a condo...

Pocket Listings Vs Coming Soon Homes for Sale

August 22, 2022

For anyone wanting to buy a home in Portland before 2019, pocket listings were a common practice here and across the country until the National Association of Realtors effectively banned them. In essence, this type of listing consisted of privately owned homes on the market that agents kept “secret” lists of and shared with small pools of potential buyers, including their own clients. What we now call “coming soon” homes replaced the practice of pocket listings. With this newer type of listing, a seller’s agent can list the home in the MLS before it goes public so buyer’s agents in the area can give potential buyers a heads up about the coming property. No showings can happen until the home...

Portland Real Estate Market Update September, 2022

August 19, 2022

Continuing its turn away from the hot seller’s market we’ve been in for the past two years, the Portland real estate market is still experiencing decreases pretty much across the board, except for home prices (not yet anyway), based on numbers from the most recent RMLS report. You can track how the Portland real estate market has looked so far this year by checking our past monthly reports and see how this month compares. Across the Portland metro area, new listings in July 2022 decreased 11.8% to 3,763 from the 4,267 listed in July 2021, and pending sales decreased 27.1% to 2,445 from the 3,354 offers accepted in July 2021. Closed sales also saw a decrease (31.1%) to 2,369 from...

Should I Sell my House or Rent it Out?

August 17, 2022

What happens when you get a new job in another city and need to relocate? Or your dream home becomes available? Should you sell your current home, or should you consider becoming a landlord and rent it out? Becoming a landlord is like having a small side business and requires that you stay abreast of Portland landlord laws and rules. Of course, you can always hire a property manager to handle most of the tasks required to successfully rent property, but keep in mind that they typically take anywhere from 8%-12% of your monthly rental income for their services. You can also rent now and sell later, however, selling a home with a tenant inside can present its own set...

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Stephen FitzMaurice

Team at eXp Realty