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5 Reasons to Move to Portland, OR

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Portland, Oregon, is a city that offers a unique blend of vibrant city life, stunning natural beauty, and a strong sense of community. Whether you’re seeking outdoor adventures, a thriving food scene, or a commitment to sustainability, Portland has something for everyone. Here are five compelling reasons to move to Portland and make it your new home.

1. Outdoor Adventures

Portland is a paradise for nature lovers, surrounded by breathtaking landscapes that offer endless opportunities for outdoor activities.

  • Hiking in the Columbia River Gorge: Just a short drive from the city, the Columbia River Gorge offers stunning hikes with waterfalls, panoramic views, and lush forests. It’s a hiker’s dream destination.
  • Exploring Forest Park: Within the city, Forest Park provides over 80 miles of trails, making it one of the largest urban forests in the country. Perfect for a weekend walk or an early morning run.
  • Cycling on the Springwater Corridor: Portland is also known for its biking culture. The Springwater Corridor, a multi-use trail, is a favorite among cyclists and offers a scenic route through the city and beyond.
  • Water Activities on the Willamette River: The Willamette River is ideal for kayaking, paddleboarding, and even dragon boat racing. There’s no shortage of adventure in Portland.

2. The Food Scene

Portland’s culinary landscape is diverse and innovative, catering to every palate.

  • Food Truck Culture: Portland’s food truck culture is legendary. From Korean BBQ to vegan comfort food, the city’s food trucks offer a world of flavors. These pods are a favorite lunchtime destination for locals.
  • Farm-to-Table Restaurants: For a more upscale experience, Portland’s farm-to-table restaurants emphasize fresh, local ingredients. Chefs here are passionate about creating seasonal dishes that highlight the best of the Pacific Northwest.
  • Portland Farmers Market: Don’t miss the Portland Farmers Market, where you can find everything from organic produce to artisanal cheeses. It’s a great way to support local farmers and discover new ingredients.
  • Salt & Straw Ice Cream: For a sweet treat, head to Salt & Straw, where you’ll find unique ice cream flavors crafted with local ingredients. It’s a must-visit for any foodie.

3. Arts and Culture

Portland’s creative spirit is evident in its thriving arts scene.

  • Art Galleries: Art lovers will appreciate the city’s numerous galleries showcasing works from local and international artists. First Thursday in the Pearl District is a popular monthly event where galleries open their doors for evening receptions.
  • Live Music: Live music is a big part of Portland’s culture. From intimate venues like Mississippi Studios to larger stages like the Crystal Ballroom, there’s always a show to catch. The city’s music scene is diverse, featuring everything from indie bands to jazz ensembles.
  • Street Art: Portland’s streets are adorned with vibrant murals and street art. These pieces reflect the city’s creative energy and provide colorful backdrops throughout the neighborhoods.

4. Sustainable Living

Portland is at the forefront of sustainable and eco-friendly practices.

  • Public Transportation: The city boasts an extensive public transportation system, including buses, light rail, and streetcars, making it easy to get around without a car. This commitment to public transit helps reduce the city’s carbon footprint.
  • Green Spaces: Green spaces are abundant in Portland. The city is home to over 275 parks, including community gardens where residents can grow their own produce. These spaces promote a healthy, active lifestyle and a strong sense of community.
  • Eco-Friendly Initiatives: Eco-friendly initiatives are everywhere. From zero-waste stores to city-wide composting programs, Portland residents are dedicated to sustainable living. It’s a city where being environmentally conscious is a way of life.

5. Community and Lifestyle

Portland is known for its welcoming and inclusive community.

  • Diverse Neighborhoods: Portland’s neighborhoods each have their own unique charm. From the historic homes of Irvington to the trendy boutiques of the Pearl District, there’s a neighborhood for everyone.
  • Community Events: Community events are a big part of life here. Street fairs, farmers’ markets, and neighborhood festivals bring people together and create a strong sense of belonging.
  • Friendly Locals: The friendly and inclusive nature of Portland’s residents makes it easy to connect with others. Whether you’re chatting with a barista at your favorite coffee shop or joining a local club, you’ll find a warm and welcoming community.

Bonus: Affordability

Portland is the most affordable major city on the West Coast.

  • Cost of Living: Compared to other West Coast cities like San Francisco, Seattle, and Los Angeles, Portland offers a more affordable cost of living. Housing, groceries, and utilities are all more budget-friendly, making it easier to enjoy a high quality of life without breaking the bank.
  • Value for Money: Despite its affordability, Portland doesn’t skimp on amenities. You’ll still enjoy top-notch dining, entertainment, and cultural experiences without the hefty price tag found in other major cities.

There you have it – five amazing reasons, plus a bonus, to move to Portland, Oregon. Ready to make the move? Let us help you find your dream home in this incredible city. Contact us today to start your journey to Portland. We can’t wait to welcome you to your new home.

Portland Real Estate Market May 2024

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Navigating Portland’s Dynamic Market in 2024

It’s May which means it is time to look back on the previous month and analyze the real estate trends and market conditions. As we venture deeper into 2024, the Portland real estate market is showing signs of holding steady. While rates had started coming down, beacause of the positive jobs report and increased inflation, they went back up into the 7s again. This has again led to some uncertainty in the market. There are still buyers in the market, but the buyer pool is smaller than it typically is this time of year. We are still seeing appreciation month over month, up 2.3% from the previous month. Inventory still continues to be the main driving factor driving home prices upwards. If we do see rates stay down continuously, expect to see appreciation jump into the 5-6% range.

The Most and Least Expensive Homes Sold Last Month

The Portland real estate market is diverse, ranging from luxury to affordability. Last month’s sales highlight this range vividly.

An exemplar of luxury, the most expensive home sold last month in Portland was located in King Heights. This beautiful property has 6 bedrooms, 7 full bathrooms and 1 half bathroom. With over 8900 square feet this home sits on just under 1 acre. This home sold for a remarkable $4,558,000. There were 4 other homes that sold in Portland last month for over 2 million showcasing the strength of Portland’s high-end market.

Contrasting this luxury, the least expensive home sold offers a glimpse into the market’s affordability. Situated in SE Portland, this cottage has 3 bedrooms and 1 bathroom. The home also has just over 1100 sqft and sold for just $249,000. The home definitely needs a little bit of work, but if you are willing to do some sweat equity, this home was a great deal! There were multiple other homes that sold for under $250,000 but they were either condemned or tear-downs. There were however multiple cute homes in the $250-$300K range.

For Sellers: Seizing the Moment

While this spring market has not been as hot as markets in the past couple years we are still seeing multiple offers on homes that are priced well and showing well. This often means that the homes are fully or partially staged. The buyers that we are seeing in the market are very well qualified which leads to fewer sales falling apart. This is good news as sellers so if you are considering a sale. Now could be the perfect time.

For Buyers: Know your Strength

Inventory and interest rates have led to a less than ideal market for buyers this spring. Top economists were expecting rates to come down to ease affordability concerns but unfortunately they have held steady in the high 6% to low 7% range. With low inventory some homes are still seeing multiple offers so if you are looking in the 500-800 range and in the highly coveted neighborhoods, expect to be writing against other buyers. The good news is if you are open to doing some finishing work or painting, you can likely get a good deal and have the seller buy down your interest rate.

Tailored Advice and Guidance

Whether you’re looking to buy, sell, or simply explore your options in Portland’s real estate market, personalized advice is key. For strategies, market timing, affordability, or property valuation, feel free to reach out. Together, we can navigate the evolving landscape of Portland’s real estate market in 2024.

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Is buying before you sell the right move?

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For many homeowners, the prospect of selling their current home before purchasing a new one is daunting. This can be due to the uncertainties around finding the right home, timing mismatches, and general uncertainties involved. However, buying a new home before selling your existing property can offer a seamless transition, eliminating the need for temporary housing and ensuring a smooth one time move. With real estate becoming more competitive, its important to do everything you can to stand out from the crowd on both the buying and the selling side. Let’s explore various strategies and considerations for homeowners looking to buy before they sell, ensuring a stress-free and coordinated moving experience.

buying a house
1. Bridge Loans

A bridge loan is a short-term financing option that allows homeowners to leverage the equity in their current home to finance the purchase of a new property. This loan essentially “bridges” the gap between the sale of your old home and the purchase of your new one. Bridge loans are ideal for those who need to move quickly, such as for a job relocation, and can’t wait to sell their current home. While bridge loans offer flexibility and speed, they also come with higher interest rates and costs, so it’s essential to consider your financial situation carefully.

2. Home Equity Lines of Credit (HELOC)

For homeowners with significant equity in their current home, a Home Equity Line of Credit (HELOC) can provide the funds needed to purchase a new home before selling. HELOCs typically offer lower interest rates than bridge loans and provide flexible access to funds. However, you’ll want to fully repay the HELOC with the sale of your home, so its important to compare your equity to what you’ll need for your next down payment.

3. Contingent Offers

Placing a contingent offer on a new home means your offer is conditional upon selling your current property. This strategy can provide peace of mind, ensuring you won’t be stuck with two mortgages. However, contingent offers are less attractive to sellers in a competitive market, as they carry more risk and uncertainty. It’s essential to work closely with a real estate agent to navigate this approach effectively.

4. Leveraging Technology and Real Estate Platforms

Several real estate platforms and services now cater to homeowners looking to buy before they sell, offering innovative solutions that streamline the process. Some services provide cash advances for new home purchases or offer to buy your current home outright, allowing you to move on your timeline. Researching and leveraging these options can significantly simplify your transition.

Regardless of the strategy you choose, careful planning and preparation are crucial. Start by assessing your financial situation, understanding the value of your current home, and exploring your new home’s market. Working with a knowledgeable real estate agent can provide you with the insights and support needed to navigate these options successfully.

wanting more ideas? Check out our handy guide with even more tips HERE

Portland Real Estate Market Feb 2024: Trends, Extremes, and Opportunities

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Navigating Portland’s Dynamic Market in 2024

It’s February which means it is time to look back on the previous month and analyze the real estate trends and market conditions. As we venture deeper into 2024, the Portland real estate market is showing signs of significant change. The last few months have seen a drop in interest rates, resulting in an increased influx of buyers. Although rates are higher than the lows of 2021, there’s an emerging acceptance of these figures as the new normal. Reflecting on 2023, a year marked by a downturn in real estate, it’s notable that the average home price still rose by 3.5%. With the recent increase in market activity, we’re anticipating an appreciation of over 5% in 2024, a projection in line with most economists’ expectations.

The Most and Least Expensive Homes Sold Last Month

The Portland real estate market is diverse, ranging from luxury to affordability. Last month’s sales highlight this range vividly.

An exemplar of luxury, the most expensive home sold last month in Portland was located in Dunthorpe. This stunning property, with 5 bedrooms and 4 bathrooms and 3 half bathrooms over 7450 square feet, sat on 1.1 Acres. This home sold for a remarkable $3,250,000 showcasing the strength of Portland’s high-end market.

Contrasting this luxury, the least expensive home sold offers a glimpse into the market’s affordability. Situated in NE Portland, this cottage with 1bedroom and 1 bathroom, and a total area of 640 sqft, sold for just $298,000. Despite its modesty, it was cute, move in ready and had a large yard, proving that the Portland market caters to a wide range of budgets.

For Sellers: Seizing the Moment

The onset of Portland’s spring market this February brings new opportunities for sellers. With inventory levels dipping and buyer interest spiking, well-priced homes in popular areas are again attracting multiple offers. Recent experiences, like my offer being $60K over yet fourth in line, hint at a competitive season ahead. Sellers contemplating the right time to list might find the current market conditions ideal, especially with the trend of multiple offers expected to continue until around June.

For Buyers: Strategies in a Competitive Market

Buyers should brace for a competitive landscape. Homes are quickly becoming sought-after, often drawing multiple offers. While the highest offer often wins, we have several strategies to make your offer stand out. Currently, interest rates are around 6.5%, but a further decrease expected in spring could intensify competition. For those seeking less competition, exploring homes that have been on the market longer or are in less popular areas might be advantageous. Remember, the best time to buy is when it feels right for you, but with prices likely to rise, acting sooner may be beneficial.

Tailored Advice and Guidance

Whether you’re looking to buy, sell, or simply explore your options in Portland’s real estate market, personalized advice is key. For strategies, market timing, affordability, or property valuation, feel free to reach out. Together, we can navigate the evolving landscape of Portland’s real estate market in 2024.

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Unveiling Real Estate Trends in Portland: June 2023

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The real estate market in Portland is dynamic. It’s influenced by various factors, including supply and demand, economic indicators, and shifting buyer preferences. We will dissect key statistics to offer insights into the current state of the Portland real estate market. Our analysis will encompass crucial areas, including new listings, inventory levels, closed sales, time properties spend on the market, and average and median sale prices. We will examine these data points to reveal emerging trends and provide expert predictions for the Portland real estate market. As a reminder, statistics always come out one month behind, so the current market is slightly different.

New Listings:

In May 2023, the Portland real estate market witnessed 3,240 new listings—a 15.9% decrease compared to May 2022. However, a resounding 22.1% surge was observed compared to the preceding month, April 2023. These statistics signify an upward fluctuation in the availability of homes for sale in the Portland area, indicative of both changing market conditions and shifting buyer behavior. Buyers are starting to get used to the high interest rates and are entering the market again.

Inventory in Months:

The inventory in months—an essential metric gauging housing supply relative to the current sales pace—presents a compelling narrative in the Portland real estate market. Throughout 2023, the Portland market has experienced wide fluctuations in inventory levels. In January, the Portland market had a robust 2.7 months of inventory, only to decrease to 1.6 months by March. With another rise in interest rates an upward trajectory returned, with inventory stabilizing at 1.9 months for both April and May. This signals that while the number of houses being listed has remained fairly steady through the year the changes in interest rates are directly affecting how many buyers are entering the market.

Closed Sales:

Closed sales, representing successfully concluded transactions, offer a tangible indicator of market performance in the Portland real estate market. May 2023 witnessed 2,008 closed sales in Portland, registering a 31.1% decline relative to May 2022. Yet, an astounding recovery of 17.6% was experienced when juxtaposed with April 2023. This again indicates that buyer demand is tied directly to interest rates and even the seasonal spring push can’t cause us to rebound back to 2021 and 2022 numbers.

Time on Market:

The inventory level in the Portland real estate market underscores a prevailing seller’s market, where demand outstrips supply, leading to intensified competition among buyers. However, the total market time is much higher than what is expected for a sellers market. The average days a home took to sell still decreased substantially this past month to an average of just 40 days in Portland. When compared to what we are seeing on the ground day to day, this number seems high. Many homes that are priced well and presented well are selling in a week or less. So while we know demand is there, as a seller having a real estate professional is more important than ever.

market time, portland real estate May 2023
Year-to-Date Summary:

When comparing the first five months of 2023 with the same period in 2022, a slowdown in market activity emerges. New listings registered a notable decline of 23.5%. This also caused pending sales and closed sales to drop by 29.0% and 34.0%, respectively. When we consider these numbers next to the end of year numbers from 2022 we see a different story. May of 2022 was when the market notably shifted towards the downward trend. This continued into the summer before leveling out in the fall. Since the fall of 2022 we have seen a slow but steady climb in pricing, inventory and buyer demand which all point to a recovering real estate market.

Average and Median Sale Prices:

Analyzing the average and median sale prices in the Portland real estate market offers invaluable insights into the market’s overall price trajectory. Through May 2023, the average sale price in Portland decreased by 4.5%, from $615,600 to $588,200. Similarly, the median sale price had a comparable decrease of 4.4%, dropping from $549,000 to $525,000. If we compare these numbers to last month as opposed to last May we actually see an increase of 2.1% for the average and 3.8% for the median. This again points to a recovering and growing real estate market.

Average sales Price May 2023
Conclusion:

Through an analysis of the real estate statistics, we have witnessed undeniable fluctuations in new listings, pending and closed sales, inventory levels, and average and median sale prices in the Portland real estate market. While market activity has slowed compared to the previous year, month-over-month data reflects a resilient rebound. If you are thinking of selling, personal timing matters more than anything. With home prices climbing you don’t have to have a fear of missing the top. If you are on the fence about buying, the longer you wait, the more expensive things will continue to get. Interest rates do play a huge part into what the monthly payment will be, but we don’t expect them to suddenly drop. Hopefully this information is helpful as you consider whether now is the right time to jump into the real estate market or not. If you are thinking of buying and want to know what you might qualify for, We have all our favorite lenders listed HERE. And if you are ready to start looking at homes, you can do that HERE. Wondering what your home is worth? FInd out HERE

Why selling your first home in Portland could be the right move

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Hey there, Portland homeowners! Are you ready to move up to a bigger and better home? Then you’re in the right place! Selling your first home can be intimidating, but don’t worry. We’ve got you covered!

With low inventory and high demand in Portland’s housing market, now could be the perfect time to sell your current home and move up to a more spacious, comfortable home. We know that making any move can be a little nerve-wracking. That’s why it’s important to work with a real estate agent who understands your needs and can guide you through the process. So, what are some of the things you need to consider when going to a “move up” home in Portland?

Step 1

First, you need to understand the current state of Portland’s housing market. In recent years, the market has been experiencing low inventory and high demand, which has resulted in rising home prices. That has slowed down with recent interest rate hikes, but the market is still competitive and prices are trending upwards. This can be a great opportunity for homeowners who are looking to sell their first home. By selling in a seller’s market, you may be able to get a higher price for your current home, which can help you afford a more expensive “move up” home.

Step 2

Second, you’ll need to decide if staying in Portland is the right move. The city has many wonderful things to offer like the best food carts in the country, stunning parks and trails, and proximity to amazing outdoor attractions like Mt. Hood and The Coast. Even still, we acknowledge that Portland isn’t right for everyone. If you do want to move out of the city, or out of the state, do a deep dive on the places you are considering to see what will best suit your lifestyle. If you need a connection out of state, we are happy to connect you with someone that can educate you on neighborhoods and current market trends.

Step 3

Lastly, you’ll need to think about what you want in your next home. We suggest making a list of the things you love about your home, and the things that you want to change. Then we will use that list as a baseline to find your next home. You want to dig a little deeper than the first time around with this list. Think about neighborhood amenities and any expected lifestyle changes when coming up with your wants list.

If you’re ready to take the next step and start exploring your options, we’re here to help. Visit HERE for an instant home valuation to see if moving might be worth it for you. You can also contact us for a free consultation if you’d like a more accurate representation, you can find our Calendar HERE. If you still aren’t sure, give us a call and we’ll be happy to answer any questions you may have.

Don’t wait to make your move. Let us help you sell so you can find the perfect “move up” home.

Why should you move to Oregon?

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Are you thinking of moving to the Beautiful state of Oregon? We put together this quick video which highlights just a couple reasons why we think you will love it here.

Oregon, known as the “Beaver State”, is one of the most beautiful places in the United States. It’s located in the Pacific Northwest and is filled with stunning scenery, a rich culture, and diverse communities. If you’re thinking about moving, here are some reasons why Oregon should be at the top of your list.

First of all, Oregon has a vibrant urban scene. Portland, the largest city in the state, is known for its lively downtown, trendy neighborhoods, and quirky culture. From craft beer to farm-to-table cuisine, Portland is a foodie’s paradise. And if you’re into biking or walking, Portland is one of the most bike-friendly cities in the country, with over 350 miles of bike lanes.

outside the city

But Oregon isn’t just about the city life. The state also boasts over 360 miles of beautiful coastline, with stunning beaches, rugged cliffs, and picturesque lighthouses. Whether you’re into surfing, kayaking, or just lounging on the beach, Oregon has something for everyone.

If you’re an outdoor enthusiast, you’ll find plenty to love in Oregon. The state is home to Crater Lake National Park, one of the most breathtaking natural wonders in the world. The lake, which was formed by a collapsed volcano, is the deepest in the United States and is surrounded by beautiful forests and mountains.

If you’re a wine lover, you’ll be happy to know that Oregon has a thriving wine industry. The state is known for its Pinot Noir, and the Willamette Valley is home to over 500 wineries. Whether you’re a connoisseur or just enjoy a good glass of wine, you’ll find something to love in the Oregon wine country.

Finally, if you’re a fan of the arts, Oregon has plenty to offer. The state is home to the Oregon Shakespeare Festival, one of the most prestigious theater festivals in the country. And if you’re more into music, the state is known for its thriving indie music scene, with countless venues and festivals throughout the year.

in conclusion

From the bustling city life to the peaceful wilderness, we truly have it all. With its beautiful scenery, vibrant culture, and endless opportunities for adventure, there’s never been a better time to make the move to the Beaver State.

Do we have you convinced? You can search for homes HERE. Or learn more about Jessica HERE. We look forward to connecting soon.

Love it or List it?

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I’m sure you’ve seen Love it or List it- where a family has totally outgrown their space but one of the partners just doesn’t want to leave, so they decide to renovate. 

And if the renovations aren’t fixing the issue, then, and only then, do they move…

While reality TV is fun to watch, the reality of living in a construction zone while shopping for a new house, isn’t.

That’s why I recommend doing one or the other. Let’s break it down.

A lot of times, people get frustrated with their space. They’ve had another baby, fallen out of love with their condo, or started dreaming of retiring in a smaller space near the beach. 

Whatever the reason, it’s very important to first identify WHY you are considering a move, and then go from there. 

Here’s five things to think about…

#1 Can it be fixed easily? 

If you want an updated kitchen, swapping out fixtures, painting cabinets, and buying new appliances is a pretty easy fix. But if you want a bigger kitchen, you’re going to have to move.

#2 Can you deal with contractors?

Hiring an interior designer or general contractor to manage your project will help, but renovations require you to work with multiple companies and contractors on a daily basis. And you’ll be totally dependent on their timeline, expertise, and quality of work. If you don’t want people coming in and out of your home for weeks on end, it may be time to move into a turn key home.

#3 Can you live with the mess? 

Renovations can be dusty and dirty and shrink an already hard-to-navigate environment. Tools will be everywhere, equipment will be everywhere, and people will be everywhere. Is a renovation going to get in the way of school, work, or travel? If so, something turnkey may be more appealing.

#4 Can you tolerate a move? 

You may dread the thought of having to pack up your entire home while paying a moving company thousands of dollars to pick up your heirloom armoire and try and make it through the front door. If this sounds unbearable to you, it may be cause to stay.

#5 Do you love your location? 

If the view, zoning, corner lot, or amazing neighbors are the reason why you moved to your current house to begin with, then moving may not be the answer. In this case, it would be better to renovate the inside of the home to match the amazing benefits of the outside of the home. 

No matter whether you decide to love it or list it, it’s important to have a good Realtor to help you understand how renovations will affect your home value and help you decide if you’re better off packing up or staying put. That’s where I can help.

If you’re thinking about making a move (or know someone who is), Please reach out! No pressure, no sales tactics, just helpful advice and the guidance you need!

And finally, if you’re not thinking about making a move just yet, feel free to save this page for future reference, so you can come back to it! 

If you want to get to know either of us better you can go to our pages Jessica or Tekela