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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What is an Exclusive Buyers Agent Agreement and Should I Sign One?

December 30, 2022

Exclusive buyers agent agreements are highly debated among professional Realtors. Some real estate agents would never work with a home buyer unless they sign one, and other buyer’s agents have never used an exclusive buyer’s agent agreement and would never use one. What is an Exclusive Buyers Agent Agreement? The answer to this question is fairly simple, but the contract you sign might be more complicated. Be sure to read any real estate agreement in full before signing and we already recommend consulting a lawyer for legal advice. A simple exclusive buyers agent contract is an agreement between a home buyer and their Realtor that for a set period of time they will not buy any real estate of a...

Portland Real Estate Market, January 2023

December 26, 2022

As we enter the new year, the most significant trend we’re seeing in the Portland real estate market is a marked slowdown in both home buying and new listings for sale. This is expected at this time of year when potential buyers and sellers are channeling their energy into holiday preparations and moving plans are typically put on hold. Check out the statistics that are shaping our current real estate market. Inventory is Dropping as Expected The number of homes on the market has continued to decline sharply since October, following its usual trend of tapering off as we approach the holidays. At the same time, inventory remains higher than it has been over the past two years. Lower inventory...

How Much Do Real Estate Agents Make? 2023 Report

December 23, 2022

It is no secret. The National Association of Realtors, NAR, puts out an annual report explaining how much Realtors earn each year, how much money they make. The big story for Realtor’s income is that is hasn’t increased much from 2013 to today, certainly decreased overall when compared with inflation over the same time period. While Realtor income bumped up in 2021, it is expected to fall once reporting comes out in 2022-2023 due to the cooling real estate market we find ourselves in now, a market that is currently defined by a huge decrease in home sale transactions for the entire industry. The report is for Realtors, but not all real estate agents are Realtors (most are). To find...

For Sale By Owners Homes Sell for 25% Less, 2023 Report

December 19, 2022

The National Association of Realtors, NAR, puts out an annual in-depth research report on what actually causes homes to sell across the U.S., down to a percentage point. This annual report also includes information on for sale by owner homes, how many there were in the last year and how they performed versus Realtor listed homes. In 2022, a full 10% of homeowners sold their property FSBO, or for sale by owner. This was a pretty big increase from the 2021 report and most believe it is due to the ever increasing low inventory, a wildly strong sellers market, which led more homeowners to try FSBO than in previous years. Also, desperate homebuyers tried contacting more homeowners direct, that didn’t...

Do Homes Built in the 1980’s or in the 90’s Sell for More?

December 16, 2022

Let’s have some fun. I’m writing this post for the Portland real estate market out of my own curiosity. Licensed since 2003, my team has sold over 2,000 homes in the metro. Honestly, I couldn’t answer this question prior to doing my own research, nor do I know of anyone trying to answer this question. But I do find it fascinating. We already know that single level homes sell faster and for more money per sq. ft. than any style of home with more than one level. We know that homes with bedroom suites sell for more than those without (everything else being equal), homes with septic systems sell for more than homes with public sewer, and that homes with...

portland oregon property taxes increasing

Portland, Oregon Property Taxes Among Highest in U.S. – Rising Again in 2023

December 12, 2022

In November 2022, Portland voters chose to renew a handful of property tax-supported measures that will benefit schools, protect natural areas and enhance emergency fire services. Voters also approved two new bonds that will be financed by property taxes. These recently passed measures, in addition to Portland’s tax structure for properties, will lead to higher taxes for home and business owners in 2023. Portland, Oregon Property Tax Rates Among the Highest in the Country and are Still Rising It is hard to get effective statistics on property taxes across the country as they are modified by so many different bonds and levies, in addition to set formulas. Typically, only research firms compiling reports can make accurate comparisons. According to a...

Portland Real Estate Bubble – Housing Crash 2023

December 9, 2022

I’ve been selling in the Portland real estate market since 2003, and writing about it since 2008. Each year I write an article like this one, to gauge the level of likelihood of an upcoming Portland real estate market crash. The Portland real estate market, did bubble up in the past, and crashed in 2008-2011 or so. Will it crash again in 2023? In order to answer this question we will look at some economic fundamentals. Although, I must say to start, from 2012 to early 2020, there were almost no signs of a slowing market or a bubble, until we hit 2020 and prices went haywire. There are two fundamental questions we have to ask to determine if the...

Buying a Portland Investment Property? 2023 will be a Golden Year of Opportunity

December 5, 2022

According to National Association of Realtors’ lead market analyst, Lawrence Yun, predicts prices will be flat (dropping in some areas) in 2023, but they are expected to rebound 10% or more in 2024. In other words, 2023 might be a golden opportunity to buy into the Portland, Oregon real estate market that is currently dropping in price. Portland Multi-Family Opportunities Opportunities abound in the local Portland market, starting with price drops in multi-family housing for sale. (Click the link to see the latest price drops.) One might think that rents are down, given the vast number of multi-family homes for sale in Portland right now, and their many, many price drops. But that simply isn’t the case. Rents are high...

Portland Homes with ADUs Sell for 11% More per Sq. Ft. 2023 Report

December 2, 2022

Have you toyed with the idea of putting an ADU on your property or buying a Portland home with an already-existing ADU? More and more, owning a home with extra living quarters is becoming a desire for many. Having extra space will allow you to house extended family or generate consistent rental income. It will also increase your home’s future resale potential. Portland’s housing profile is changing, and it’s important for all Portland home owners to stay on top of all the recent trends. To top it all off, Portland Homes with ADUS sell for more. Read on to learn more about the benefits of owning a home with an ADU. Find a Home for Sale with an ADU in...

Best Time of the Year to Buy a Home in 2023

November 28, 2022

As the greater Portland real estate market cools off, 2023 looks to be a fantastic time to purchase a home. But even within that year there will be months where it is easier to find a home you want for a good price, and months where it will be a lot harder. Overcome the challenges to buy a home in 2023, if you can. Certainly, the high interest rates are a significant challenge, but be sure to check out the low rate assumable loan options to bypass the issue entirely. Also be sure to check if you qualify for any home buying down payment grants (you don’t have to be a first timer, but typically there is a cap on...

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Stephen FitzMaurice

Team at eXp Realty