9/9/2020
Buying a Home in Portland | Lane Lowry | Portland Real Estate
a Buying a Home in Portland by Lane Lowry | Sep 9, 2020 | Portland Real Estate
Portland is a wonderful and beautiful place to live and buy a home. The real estate market in Portland is lled with a variety of housing options and neighborhoods that are perfect for you and your lifestyle. Whether you’re a young professional just getting started in life or are looking to raise a family, there is a place for you. Before you being your search for your new home, here’s what you need to know about buying a home in Portland: Changes to the Portland Real Estate Market Over the past couple of years, there has been a change in the Portland real estate market, which many locals aren’t yet aware of. As inventory is going down, home values are rising which greatly a ects home buyers. According to Zillow, the median home price in the city rose to around $467,62, which is a bit higher than last year and much higher than in previous years. Zillow also predicts home prices will rise again in Portland, which means home buyers should be realistic of what they can a ord. Buying and Selling is Moving Fast https://lanelowry.org/buying-a-home-in-portland/
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9/9/2020
Buying a Home in Portland | Lane Lowry | Portland Real Estate
As inventory is decreasing, the process of buying and selling homes is moving pretty quickly in Portland. In other cities, buyers typically have the opportunity to shop around and weigh their options. In Portland, homes are selling rapidly, typically within 30 days, due to limited inventory. At such a fast pace, as a buyer, you need to be ready to snatch up the right property for you as soon as you see it. Get Pre-approved Ahead of Time Because everything is moving so fast now in Portland, it’s important to get pre-approved before you start shopping for a new home. Many Portland residents who buy a home use mortgage loans to nance their purchase and if you are looking to be one of them, it’s smart a move before entering the housing market to be pre-approved. Most sellers will expect you to have this step already completed before you make an o er, which is why having a pre-approval letter from a mortgage company on hand will give you a leg up and better your chances of buying your dream home.
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9/9/2020
Buying a Home in Portland | Lane Lowry | Portland Real Estate
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