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PORTLAND
OREGON
REAL ESTATE
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Portland Homes for Sale OverviewPortland Home Improvement
Homeowners hear a lot about improvements that might add value to houses. But less attention is paid to what to avoid. Steer clear of renovations that will cost you money at resale time.
If an Portland home becomes conspicuously larger -- and more expensive -- than those around it will risk becoming hard to sell. Additions tend not to return their entire investment. The 2005 "Cost vs. Value Report" found that homeowners were able to recoup only 83% of the cost of a family-room addition and 82% of a midrange master suite.
Portland FAIR MARKET VALUE
When you buy Portland real estate or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser uses the Rule of Three. What that means is the lender wants to evaluate three "comparables"—recent sales of nearby homes that are very similar to the one you are buying. Based on this information, the lender will make adjustments to reflect the differences between the properties and arrive at a fair price for your home.
Portland Real Estate Contract Options
The most common type of listing agreement used between sellers and the real estate broker is known as “The Exclusive Right to Sell” Agreement. In this agreement the agent agrees to include the home in the Multiple Listing Service (MLS). The details of a Portland real estate listed in the MLS are available to all agents and brokers and with the advent of the Internet, MLS listings are shown on the World Wide Web.
Portland. How Much Should You Offer?
Comparable sales figures is a good guide for homeowners who are pricing their Portland and a good guide for prospective buyers. Make sure you compare homes that are similar to the one your are considering...the same neighborhood, the same size, the same condition. Also, make sure you compare sales within the past six months.
Ask your REALTOR for a comparison of the list price and sales price of comparable Portland sales. This information may give you a trend and a guideline for your offer. For example, maybe homes in the area have consistently listed for more than they actually sold for. If that is the case, find out what percentage of reduction occurred. Use this information as a basis for your offer.
Does Your Portland Have Curb Appeal?
Good curb appeal is definitely an advantage to home sellers when prospective buyers visit your Portland and can be an advantage in advertising in the newspaper and on the Internet. However, it is important to note that even a home with great curb appeal can look bad in an advertisement if the photographer did a bad job with the camera. A photograph of a Portland home on a dreary day will look quite different from a photo of the same home when the sun is shining. Sometimes it is better to take a picture of a home from an angle rather than a straight on shot that may turn out to be more about the garage door than about the house itself.
Portland DEPRECIATION
Depreciation is the loss of value of a building or an asset due to wear, tear, and aging. Depreciation cannot be applied to your personal residence unless you use your Portland in some way for business. If you do depreciate a part of your home, let's say a home office, there are tax consequences you must consider when you sell your home.
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