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PORTLAND
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Portland Real Estate
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 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.
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.
Buying a Portland Fixer-Upper
This, of course, depends on the condition of the Portland home and the estimated cost of the repairs you must make. Portland real estate in a good neighborhood that is priced about 25% lower than others that are in good shape may be a good deal if it simply needs cosmetic or minor structural repairs. If the house is a gut job, that is the entire inside will be torn out and rebuilt the 25% rule may work and may not so estimate your costs as closely as possible.
Shopping by neighborhood makes good sense when considering the purchase of a fixer upper. As a buyer, the more you know about the Portland homes in a particular area the better able you are when it comes time to judge whether or not a home your are considering meets the financial parameters you are looking for.
Rent or Buy Portland
For most people, the chance to trade nondeductible rent payments for mostly deductible mortgage payments is a powerful inducement to trade a rental home into a Portland of your own. This is by far the single most important reason why people decide to buy their first Portland.
However, whether you are considering your first Portland investment or planning to move up, the number crunching necessary to figure out how much house you can afford depends on two calculations: one for actual monthly outlays, the other for the true, after tax costs.
Portland BARGAINS
A bargain exists in the mind of a buyer when entering into an agreement to exchange goods when the buyer thinks the price is favorable. Bargains can always be found in the Portland market if a buyer is patient and willing to wait for a truly motivated seller. In economic downturns many people believe that foreclosures and short sales are automatically bargains when, in fact, this may not be the case.
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