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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Six Strategies for First-Time Portland Homebuyers

March 31, 2014

Once in a while I try to stop, take a step back and ask myself: If I were a first-time homebuyer, how would I dive into the complex and exciting task of buying real estate in Portland, Oregon? Portland home buyers today are inundated with choices and information, from the ubiquitous real-estate-agent-ad-on-a-bench, to 3D tours that launch from craigslist ads. With so much at your fingertips, here’s a quick rundown on what to do – and who to listen to – first. 1. Nail down your price range. It’s not just about getting pre-approved for a mortgage, although you’ll want to do that, too. But banks and lenders are good at luring home buyers into spending more than they intended....

Portland Real Estate Market News: Busy, Snowy February 2014

March 15, 2014

RLMS Market Action report for the Portland Metro Area, released this week, focused on February’ highlighted the number of closed sales in February, a whopping 1,467. According to the report, this was the best February in the Portland real estate market for closed sales since 2007. What does that mean? The average time on the Portland real estate market right now is 100 days, so it’s safe to say that it was a good winter for Portland home sales. Deals that were made in January, December, even November, closed last month and 1,467 happy home buyers and sellers went their separate ways. Following these leading numbers was the news that new transactions didn’t happen as prodigiously in February as they...

Boost Portland Home Values with Smart Bathroom Remodels

February 27, 2014

Before listing your home with a Portland real estate agent, you may be looking around at what you can fix up to improve your home’s market value. In my experience, home buyers in Portland are always attracted first to the kitchen and the bathrooms, and these rooms can really be the deciding factors in whether or not they love a home. We blogged about remodeling your kitchen in four easy and budget-friendly steps, so now let’s cover bathrooms. The most important thing to remember in any resale-focused home remodel is to be sure you’ll get a return on your investment. It seems basic but it is the easiest thing to forget in the throes of fixture shopping and bathroom-gutting. By...

Sell your Home Fast in Portland, A How To Guide

February 17, 2014

Need to sell a home fast in Portland? As a top Portland real estate agent I’ve listed all the main tips I’ve learned over time, so that you can get your Portland home sold fast. Avoid quick cash for your house schemes. Yes this is a way to sell your home fast. It is also a good way to get scammed. Fast cash for your house is a scam advertised all over the Portland area, online and on cheesy yard signs by many different outfits. One thing you can be sure of, you will get less than market value. In fact, if you’re lucky the cash investor will offer you 80% of the value of the Portland home in its...

Portland Real Estate Agents: The Original Sharing Economy

February 16, 2014

The hottest trend of 2014 is sharing. We’re not talking social media or group therapy – we’re referring to the trend of allowing friends and strangers to borrow what you have in return for money or just the opportunity to borrow from them in the future. From cars to homes to kitchenware, people are coming up with ways to use these resources more efficiently through sharing. In what’s being called the “sharing economy”, websites make it easier for anyone to see what others have and to post requests for what they need. In Portland, the sharing opportunities are myriad. For starters, grassroots organizations have created ways for neighbors to share things like tools and equipment. Portland entrepreneurs have extended the...

Wood Stove Removal in Portland Oregon

February 9, 2014

Many Portland home sellers are not aware of the wood stove removal laws in Oregon. The law began in August 2010 and was put in place to protect citizens from uncontrolled wood smoke pollution. The Oregon Senate Bill 102 created a uniform standard for the entire state of Oregon that requires the removal of any uncertified wood stove or fireplace in Oregon at the point of sale. Since this is a “point of sale” law, it directly impacts Portland residential home sales and your Portland real estate agent should be able to guide you through the process. How does this affect Portland Home Sellers? When you are selling a home in Portland with a wood stove, you should first check...

Hot Real Estate Market, Hotter Portland Neighborhoods!

January 31, 2014

The new year is off to a good start for Portland real estate buyers, sellers and agents, according to the RMLS Report for the Portland Metro area for December 2013. The figure that stands out in this month’s real estate market report is that median and average home sale prices in the Portland area are up by nearly 13% compared to last year. Although the number of closed sales and new listings are down from November, the month of December overall pulled in ahead overall compared to the same month last year. And, the number of pending sales reached 1,484, the most for any December since 2006! What’s causing all of this positive Portland real estate market action? Portland always...

Average Days on Market in Portland Real Estate by Area 2014

January 20, 2014

Entering into the 2014 Portland Real Estate Market it is crucial to consider the average days on market in 2013. At the end of 2013 North Portland had the fastest average days on market at a speedy 45. Average days on market is a strong indicator of what part of town is truly up-and-coming and what part of town is starting to decline. Right behind North Portland was Northwest Portland (up in the Forest Heights area), coming in at 48 average days on market. Third place was a close fight between Lake Oswego / West Linn at 91 days and Northeast Portland at 92 average days on market. This will be a surprise to some, but West Portland came in...

Buying a Home For Sale By Owner in Portland

January 15, 2014

If you’re a Portland home shopper, you probably keep your eyes peeled for yard signs when you’re cruising around the city, and you may occasionally notice one that says For Sale By Owner. Well… who else can sell the home except the owner? Of course, you probably already know that a For Sale By Owner, or FSBO (say it: “fizz-bo”), is a home or property being listed without a Portland real estate agent working on behalf of the seller. According to the National Association of Realtors, the number of home sellers listing without the benefit of a real estate agent has actually declined over the past two decades, but those stubborn DIY-ers still represent about a small portion of home...

Should the Seller pay the Buyer’s Closing Costs?

January 6, 2014

With over twelve years of Portland real estate agent experience, I have heard this question at least a hundred times. Many sellers are surprised to get an offer from a buyer that explicitly asks the seller to pay their closing costs. A lot of sellers don’t know that it is a possibility, much less a common element of a real estate offer in Portland. It is a trend that continues and grows because the buyer’s closing costs keep increasing. I have seen buyers put in their offers for the seller to pay over $10,000 in buyer’s closing costs. That is an extreme example, but most buyers experience a sticker shock of at least $5,000 in closing costs on top of...

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Stephen FitzMaurice

Team at eXp Realty