What we discuss:
The Portland Oregon Real Estate Market being super slow right now.
How another interest rate hike is affecting the market.
That we could see another raise in rates before the end of the year.
How some homebuyers are getting lower interest rates and higher negotiation power in today’s market.
How home sellers can still be successful in today’s market and which homes are getting multiple offers again.
What we discuss:
The Portland Oregon Real Estate Market trends being hyper local.
How buyer motivation is up.
That we may see two more interest rate hikes before the end of the year.
How pricing and extensive preparation is key to a home seller's success.
What we discuss:
Spring weather finally showing up and the market heating up too.
The steady increase in demand from home buyers.
Seller’s finally coming to the market.
What we discuss:
The Spring Portland Oregon Real Estate Market being in full swing.
Home buyers buying up homes.
Home sellers coming back to the market SLOWLY.
How to prepare for the hot market.
One of the most significant benefits of being a realtor is having the ability to buy and sell property on your own and therefore avoid paying one side of the commission.
So when I decided to sell my condo and chose to hire another agent in my office to assist me in the sale I got questions.
Why didn't I just do it myself?
Light-filled two-story condo with vaulted ceilings, views from Mt Hood, and deeded parking. Updates throughout. New furnace & A/C. Updated primary bath. Two large balconies with views of Mt Hood plus room to entertain, and garden. Close proximity to OHSU and Downtown PDX.
What we discuss:
The numbers from December.
How mortgage applications doubled in the first two weeks of January and what this means for the market.
How the market has shifted dramatically in the last week.
What we discuss:
How the Winter real estate market is performing.
How we are seeing the positive signs of a robust Spring real estate market.
What we discuss:
How real estate activity is down across the board.
What this means for timing your real estate moves.
How interest rates going down this month, gives us hope for the spring.
When we met Rocio and Diego over on Instagram, they weren't sure how they were going to buy a home, but they knew they wanted to take the steps to do so.
They were able to come to one of our first-time home buyer classes, learn about the buying process, and within a few weeks were pre-approved for a home loan and out shopping for properties.
After looking at a good amount of homes, we were able to narrow down what they wanted and were able to find a home they loved!
They were able to achieve homeownership at the height of the real estate market which was not easy to do for anyone!
So I figured I would share a few strategies that aided in their success:
If you are thinking of buying your first home, or have not bought a home in a while and would like a step-by-step overview of the process…
You are in luck!
Our next Home Buying like a Boss class has been scheduled!
December 6th, 12:00 pm, on Zoom
What we discuss:
Interest Rates
How high rates are affecting the Portland Oregon real estate market
What the market will look like if rates go down in the spring
Portland Oregon Real Estate Market Update - October 2022
What we discuss:
How dramatically increasing interest rates have decreased activity overall.
What this means for home buyers and home sellers.
And what opportunities are out there for both buyers and sellers in this shifting market.
Okay, this might sound wild, but with everyone talking about the negatives of high-interest rates, let's talk a bit about how there are some benefits to a shifting market due to high rates.
What we discuss:
How rising interest rates are affecting the market.
Expectations both home sellers and buyers should have of the fall market.
If you should wait to buy until rates go down as a home buyer.
First off the real estate market is shifting NOT crashing.
If you are a home buyer or especially if you are a home seller I want to make it clear from the beginning, that while we are seeing some uncertainty in the market it is nothing new and more so a sign of a normal and much-needed shift in the market than it is a sign of a crash.
If you are looking for new Portland Oregon Real Estate resources, you should make sure that you are following our Instagram.
Well, it certainly feels like everything has led up to this.
We have talked about a shift for a while but now its looking pretty real. While no one is claiming that we have shifted into a buyers market by any means we have seen some fairly dramatic changes in the market in the last few weeks.
Mainly demand from buyers hitting pause.
With higher interest rates, and economic uncertainty many buyers have been hesitant to make moves. Creating a pretty significant slowdown in motivation and interest.
BUT if you are thinking of selling your home and are freaking out reading this, or if you ARE an active buyer and wondering if you should be pausing too, here is what I will say.
So first off we have some actual numbers to show that the market has officially started to shift!
Slightly.
When talking about our current market shift I am quick to point out that we are still certainly in a seller's market. A balanced market is 6 months of inventory and we have just finally gone up to one month of inventory. So we are still nowhere near balanced.
But with that being said we are feeling a shift and now seeing it play out in the data.
It's here.... the real estate market has shifted... slightly!
It hasn't shown up just yet in the numbers, since we are reviewing recorded numbers from April and the shift has only come about in the last few weeks, but anecdotally we are seeing a shift.
It's happening here in the Portland area and from my talks with realtor colleagues across the US and in some parts of Canada it's widespread.
