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Portland Homes / A Guide for Buyers and Sellers
Portland-Home of Their Dreams
Ever think you would like to build your own Portland home and have everything just the way you want it? Lots of people do and they often start by looking at land or lots for sale. With many people the idea is to buy a lot today, get it paid off or mostly paid off and then sometime in the future, contract with a custom builder for the Home of their Dreams via Portland.
Portland Dream Home
As you can see, the lot you choose for your Portland Dream Home could have
either a negative or a positive effect on your overall building costs. A large, square lot in the middle of a graded subdivision in Portland is the easiest type of building site to work with. The further your lot deviates from the ideal, the higher your building costs will be. Building on a hillside or on a lot with varying topography and irregular shape is expensive.
Portland Real Estate Cycles
One problem with attempting to time your purchase to the business cycle is that even experts have problems accurately predicting the future economy. Even when they can, the Portland market does not necessarily move in tandem with the stock market or the economy as a whole. Portland is a unique situation.
When the economy is doing well, interest rates are generally higher. The result is that fewer people can afford houses, and Portland is no exception. When the economy slows down, interest rates fall, the "affordability index" moves up and more people can afford houses. The Portland market will take the lead.
Portland: Art and Science
Buying a piece of Portland real estate is a science but buying your Portland home is an art. The science part involves getting the legal and financial parts down while the art is finding the Portland property that you’ll be happy with.
The total universe of possibilities within the universe of Portland real estate is quite diverse but narrowing your search ahead of time will help keep things in perspective.
In general there are two phases to any Portland real estate search. In the first phase, you get a feel for the different areas and an idea of what is being offered at what price. In the second phase, you search for the Portland real estate that meets all or most of your specifications.
When Portland Does Not Sell
Let’s say a home is in excellent condition but simply messy. The cat box needs changing, the dog dish is a mess, the dishes haven’t been put into the dishwasher and the beds are not made. Should these conditions affect the price of the Portland? No, but they do. Take two identical houses next door to each other and priced the same. The sparkling clean house will sell much faster than the messy house and the messy house will more than likely sell for a lower figure. This is true of Portland as well as real estate nationwide.
When a home does not sell, the owners tend to think that the REALTOR didn’t do a good enough job of promoting the property. There is a difference among agents and brokers and some will promote a property more than others. However, the main and most important method of promoting Portland for sale is listing it in the local MLS.
Portland SALES
When you are thinking of buying Portland, it may make sense to get a clear picture of the Portland market before you get too far into your search. It is important to know the current market’s strengths and weaknesses so that you can make wise real estate decisions accordingly.
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