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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portland wood stove removal

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...

portland real estate market

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...

portland days on market

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...

for sale by owner homes

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...

real estate closing costs

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...

real estate online shopping

Portland Home Buyers Shop Online, Buy With a Real Estate Agent

January 2, 2014

Forget Silicon Valley – did you know the city of Portland, Oregon is the tech hub of the Pacific Northwest? HP, Intel, Yahoo! and hundreds of other web and tech businesses have major operations in the Portland area. Portland residents are known for being wired, and not just on coffee. We pride ourselves in being able to access information with the touch of a screen or click of the mouse. What does all of this have to do with real estate? Well, besides the technology industry providing thousands of jobs, making Portland a great place to relocate, it’s interesting to note how technology has changed the real estate industry itself. Stop for a moment and consider how you would go...

real estate market

Portland Real Estate Market 2014 Prediction

December 30, 2013

Portland should have a banner year in real estate in 2014. Portland’s “underwater” mortgage rate is among the nation’s lowest. Corelogic is reporting only 6.6% of the Portland real estate market has mortgages higher than what the property is worth. This is way down from what Zillow reported in the Portland market in early 2012, a whopping 16.9% of Portland homes were underwater. So what does that mean for 2014 home sales? Basically it means that Portland homes are worth more and not a significantly larger number of home owners will be able to sell their homes come 2014. More homes will hit the market and sell, and those same sellers who likely have been waiting years for the opportunity,...

real estate agent reviews

Should I trust Portland Real Estate Agent Reviews?

December 17, 2013

Can you trust Portland real estate agent reviews? I’ve made it a policy to get real estate agent reviews from my clients. I want to know if I provided the highest level of customer service – or not. I’ve collected over 100 positive Portland real estate agent reviews, see them here, and an award called Five Star Professional, which surveys thousands of home owners and home buyers in order to give out customer service awards in real estate. I feel good about the great reviews I’ve received over the years. When people visit my website or other websites where my reviews are located often they are impressed. However, I know some have had serious doubts when seeing online Portland real...

mortgage lenders portland

How to Choose a Mortgage Lender in Portland

December 16, 2013

Congratulations! You’ve decided to relocate to the great city of Portland, Oregon (or just moving across town, which is exciting, too). You’ve checked out the Portland neighborhoods, figured out how much home you can afford, and now you’re ready to take out a mortgage. A mortgage is like a bridge between where you are and where you want to be – you don’t have all the money to pay for your home now, so a mortgage fills in the gap of time that it will take you to attain those funds. Portland has lots of bridges, and we have lots of options for Portland mortgage lenders, too. You could head to your old, trusted bank or credit union. Or, you...

real estate market portland

Rent Vs. Buy in Portland Real Estate Market Prediction 2014

December 6, 2013

Which is a better investment? Should you avoid risk and keep renting, or bite the bullet and purchase a home? Here are some key factors to consider: Portland area rents have incrased an average of 5% in 2013. That is an annual “depreciation” of -5%. In contrast home prices have risen in Portland 10% from 2012 to 2013. According to the Portland Metropolitan Association of Realtors: The average annual monthly home payment in Portland was 14,467 in 2013, while the average rent paid was 13,212. However, the homeowner had an average interest deduction of $2,853, property tax deduction of $896 and gained appreciation (equity) of $4,702. This is based on median home prices in Portland and a 30 year fixed...