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PORTLAND
OREGON
REAL ESTATE
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Facts About Portland Homes and Condos
Portland Home Inspection
The purpose of a thorough home inspection is to ensure that Portland home buyers know exactly what a home’s condition is prior to completing the transaction. A good Portland home inspection should include an evaluation of the foundation, framing, roofing, site drainage, attic, plumbing, heating, electrical system, fireplaces, chimneys, pavement, fences, stairs, decks, patios, doors, windows, walls, ceilings, floors and built-in appliances. All significant or pertinent findings should be reported in writing to the prospective Portland homebuyer. The home inspection report gives the Portland homebuyer the information he or she needs to determine whether to buy the property as is or to ask the seller to make repairs.
In most cases, when an Portland homebuyer makes repair requests, sellers usually agree to some if not all of the conditions.
Portland HOME BUYING MORTGAGE PITFALLS TO AVOID
ALL MORTGAGES ARE NOT ALIKE. There are far too many variables—type of mortgage, term, lender and amount of points to mention a few—not to investigate all of your options in Portland. Don’t simply accept the first plan presented to you, whether it is from a mortgage broker, an agent or on the recommendation of a friend. Spend time comparing to get the best plan for you.
HOME INSPECTION – A MUST. If you should ever think about skipping the Portland home inspection in order to save money, stop and give yourself a good shaking. In the scheme of things, the Home Inspection fee is small potatoes but it is a very important step for any buyer to take. Going without a Home Inspection or choosing an unqualified inspector puts you at risk for not knowing about potentially expensive or even hazardous defects in the property.
Guidelines for Buying Portland
The Internet is great but nothing really substitutes for your personal inspection of homes that are for sale in the Portland. When you have visited plenty of homes online and in person when the right property comes along you will know it.
It is perfectly normal for buyers to have a general idea of what they want in a home without a great deal of specificity. Research, both online and in person will help you define your Portland needs but you can and should know your financial needs before you even start looking. I recommend that buyers go through the process of prequalifying with a lender or at least with a real estate agent in order to narrow the search among homes that are a possibility. Many agents refuse to show homes to prospective buyers who have not been pre-qualified.
Bitten by the Portland Home Improvement Bug?
Maybe, like millions of Americans, you can’t help it! You live in your Portland home for several years and before you know it, you find yourself thinking about how the kitchen would look with new cabinets and a granite countertop. Should you start with the kitchen or would it be better to add a home office to give the family a little more room? There seems to be endless options for the creative Portland homeowner bitten by the Home Improvement Bug. Once you get started thinking along these lines, it usually doesn’t take long before the ultimate question pops up. Is it better to improve your current home or simply sell and buy a bigger, newer or more desirable Area home? Here are some issues to help you make that all-important decision.
Tips for Buying or Selling Portland
Most experienced real estate agents and brokers already have Websites that showcase their local MLS data so your Portland can show up online as soon as it is listed. On the other hand, if you are selling on your own it will take time or a considerable advertising budget to get your individual Portland property to show up on the major search engines where prospective buyers will find it. You could tap into one of the several For Sale by Owner Websites but that would limit your market of buyers.
Buying real estate in Portland is also much easier when you work with a real estate agent who knows the area and the market. While there is a great deal of information online about real estate asking prices, it is not always so easy to find out what a property actually sold for. And even then, specific terms of a sale often make a difference in how to interpret the sales price.
Portland DOWNTURNS
Real estate markets are affected by the economy as a whole and in turn, can affect the general economy. Of course, a buyer’s dream is to buy Portland when prices are low and sell when prices are high. However, real estate is not exactly like other forms of investment and most people become comfortable and attached to their homes and are not interested in selling just because the market is right.
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