What Do Current Market Conditions Mean for Portland Buyers and Sellers?

Metro Portland Real Estate Podcast with Joe and Steph Reitzug

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Today we are going to discuss the current market conditions in the Portland Metro. Your opinion of the market depends on your perspective. Buyers, sellers, and investors each see the market differently. Today we are going to talk about how the current Portland market looks for buyers and sellers.
For buyers, the Portland market is very competitive. We’ve got very low inventory, so you’ll need to be prepared to buy with a pre-approval from a reputable lender. You need a pre-approval to be able to make an offer right away on a home, which is something you’ll have to do to get a good deal in this market. One positive for buyers in Portland right now is interest rates. They are still near historic lows, but are predicted to rise soon. Even a .5% increase in rates will greatly affect your buying power and add about $100 a month to your mortgage payments.

For sellers, right now is a fantastic time to enter the market. The low inventory works in your favor, and home values are continuing to increase. Even though the market is set up for sellers to succeed, they still need to remember a few things. Overpricing your home as a seller is a bad idea, and it will hinder you from receiving multiple offers, if any, on your home. If you’re priced right from the get-go, you have a much better chance of selling for top dollar, and more people will see your home.
If you’re thinking about buying or selling here in Portland, feel free to give us a call or send us an email. We would love to hear from you!