Portland Real Estate Blog

This is a top 100 real estate blog in the world according to Feedspot.com. In particular this is a Portland real estate blog written by a top 1% Portland real estate agent, Stephen FitzMaurice, Realtor. Stephen regularly reports on the Portland real estate market, including short sale and foreclosure news. He gives home selling and home buying tips. He also writes informative articles on Portland neighborhoods. Finally, he writes to inform the general public about real estate agents and the industry.

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Portland Home’s Values Higher than Owners Think – 2020 Report

June 8, 2020

The common perception of home sellers is that they are al too attached to their homes, and always overestimate value. This is not true! Sellers actually both over-value and under-value their homes depending on market conditions. When the real estate market is stable, sellers tend to estimate their homes value fairly accurately. When the market is dropping fast, sellers tend to lag behind and think their homes are still worth more than they are. When the market is increasing fast, sellers lag behind and often think their home is worth less than it is. Quicken Loans has been putting together a yearly report on the difference between seller estimated value and actual appraisal value and the results are illuminating. Portland...

Portland Natural Disasters: Riskiest Neighborhoods to Buy a Home in 2020

June 5, 2020

We don’t want to scare away potential homebuyers, but mother nature has some potentially powerful disasters to unleash on Portland. Are some neighborhoods safer than others? That depends on which disaster we’re talking about. Before you make a home investment in Portland, get to know what the hazards are, and the best way to be prepared for each. Risk #1: Portland Landslides Areas to watch out for: West Multnomah County, from downtown Portland to Scappoose as well as parts of Gresham to the east Natural Disaster Risk: Landslides Don’t buy a home here if: The address has a high landslide hazard risk. While there are some mitigation and prevention strategies, rain, mud and gravity can be a deadly mix. Neighborhoods...

Portland Radon Map – 2020 Update, Plus Free Tests (for some)

June 1, 2020

Portland Radon rates change. A perennial hot topic in Portland is the influx of Californians, but it’s really the Montana and Idaho migrants that we should be worried about, according to health officials. Actually, they’re not talking about people, but rocks. “In the Portland metropolitan area, a lot of the rocks and soil underneath the Willamette Valley were carried down from parts of Idaho and Montana,” said an Oregon Health Authority official quoted by OPB. These long-ago geological travelers carry radon, a radioactive gas that is drawn into homes and buildings, leading to cancer and other health issues. As real estate agents, we do a lot of education about the risks of radon and the importance of testing, and in...

Portland Real Estate Market COVID19 Update – Major Rebound – Buyer Traffic Down ONLY 20%

May 29, 2020

When COVID19 hit Oregon hard in March of 2020 local home buyer traffic dropped over 60% in the Portland real estate market. In April buyer traffic increased about 40% from March. Now every year buyer traffic normally increases from March to April (but not by 40%!). So in April we were down about 30% from April of last year, 2019. Now that May is about over it looks like June 2020 will start at 20% down off typical June numbers. This is a huge recovery! The reader must understand that there are also now less showings per sale, less tire kickers, and so even a 20% drop in showings isn’t a 20% drop in sales. When all the numbers come...

Portland Home Staging Works 2020

May 25, 2020

We’ve yet to understand the full impacts of the 2020 pandemic on the real estate market, but one thing that is certain is that more home buyers are looking at homes online. They’re clicking through dozens of photos and sometimes taking virtual tours before, or sometimes instead of, touring in person. That means home staging is more important than ever in 2020. Photographs of an empty home typically do not look as good online, and even in 3D virtual tours, furnishings in the room help the buyer to grasp the dimensions and potential functions of the space. Even that being said, staging isn’t the best choice for every home. I’ll explain more as we go. Latest Statistics on the Power of...

Top 3 Exterior Paint Colors to Boost Home Value in 2020

May 22, 2020

Repainting a home before you sell is always a good idea, especially if it’s been more than five years since the last paint job. A fresh coat of exterior paint is an immediate facelift, a signal to buyers that the home is cared for and move-in ready. This year, Portland home buyers are going back to the basics, gravitating toward homes that look inviting, cozy and classic. Check out the top three real estate-agent approved colors to paint your home before you sell. Our Top Three House Colors for 2020 1. Creamy Mushroom by Behr When to use it: Contemporary-style homes, ranch houses, traditional-looking homes What it is: Most people know this color as “greige”, but we like “creamy mushroom”...

Portland Landscaping Tips to Increase Home Value 2020

May 18, 2020

Whether you’re hoping to build home value long-term or are selling this summer and want to maximize curb appeal, landscaping is critical. This time of year is when Portland yards, gardens and outdoor play/relax areas really shine. There’s so much potential here to impress and win over home buyers that we’re going to have a hard time fitting it all into one blog article — but we will do our best! Landscaping to Boost Curb Appeal: Sell Your Home for More this Summer Study after study shows that curb appeal has a direct impact on home value: a 7-14% increase in sales price was recently reported by realtor.com. We also know that landscaping is a major component of curb appeal....

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,...

How to Test for Asbestos – Portland Home Guide

May 11, 2020

Most of us think of our homes a safe space. However, there are multiple toxic hazards that could be present in Portland homes both old and new. These include radon, improperly decommissioned oil tanks, lead and the once-popular fire-resistant building material, asbestos. As Portland real estate agents, we consider it our duty not just to sell homes, but to provide buyers and sellers with accurate and up-to-date information about what hazards they might hold. That’s why we’ve dedicated regular blog posts to discussing how to test for and deal with the hazards common to Portland homes. And asbestos is a big one! Read on for asbestos information and resources before you buy or sell a home in 2020. Asbestos Basics for...

Buyer Traffic Up 42% after COVID19 63% Drop – Portland Real Estate Market Report

May 8, 2020

What happened: After home showings decreased a whopping -63% in March 2020 (versus March 2019 numbers), when the initial impact of COVID 19 hit the Portland real estate market, home buying traffic is bouncing back – and in significant numbers. April 2020 saw a 42% increase in home buyer traffic from those bottomed out March numbers. Now typically April buyer traffic increases over March every year, but certainly not by those drastic of numbers. Where are we now? We are still down about 31% from 2019 May traffic numbers, but this is no where near the 63% drop from expected March traffic – a huge improvement for the Portland real estate market. Also keep in mind that home tours are...

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Stephen FitzMaurice

Real Estate Team