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PORTLAND
OREGON
REAL ESTATE
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Portland Real Estate Summary
Shopping for Your Portland Real Estate Loan
Portland Real Estate Loans have become part of a worldwide mortgage market and mortgage lending is impersonal and competitive. When you shop for the best loan don’t pay too much attention to who is originating the loan. Instead focus on interest rate, points, processing costs and whether you want a fixed rate or an adjustable rate loan. The reason for this is that more than likely, your Portland real estate loan will be sold to one of the organizations made up of what is known as The Secondary Market.
Bitten by the Portland Home Improvement Bug?
Unless money simply isn’t an issue, the financial implications of remodeling are definitely something to consider. When it comes time to sell your Portland home, the new buyer will usually not pay for over-improvements. This means that if you have the smallest home in an area of larger, more expensive homes, home improvements may make very good financial sense. However, if you already have the largest, most expensive home in Portland, more improvements may make you more comfortable but may not bring you a good financial return. You may find that it is financially wiser to sell and move to a different home that already has the features you want to add.
Buying a Portland Fixer-Upper
Finding the right Portland fixer upper often involves finding a seller who is in financial difficulty and wants to sell in order to protect their credit or to avoid foreclosure. Various government agencies such as VA, HUD, IRS and others offer homes in foreclosure for sale and these homes can make excellent fixer-uppers. Bank owned properties known as REOs, real estate owned, offer good opportunities since financial institutions want to eliminate their real estate holdings by selling foreclosures quickly.
Join my network of Portland buyers looking for specific types of properties. Call or Email me today.
The Benefits of Selling Portland
As you know, you are allowed to sell your Portland principal residence once every two years and exclude up to $250,000 ($500,000 for a married couple) of the gain of the sale on your Federal income tax. Please note: This is not a once in a lifetime tax savings and you don’t have to be any certain age or buy a more expensive property. If you meet the two-year residence test you can sell your principal residence every two years if you are so inclined and the market cooperates. But this tax saving does not affect rental property unless you convert the rental to your personal residence, live in it for two years and then sell it.
What Makes Portland Sell?
If your only reason for selling your Portland is for the purpose of taking your profits there are a couple ways to approach this. Assuming you have lived in the Portland for two years so you can avoid federal tax consequences, if you sell when prices are high and rent until prices come down before buying a replacement home, you will have maximized your profit. Remember, if you sell when prices are low, you will still make a profit and be able to buy a replacement home while prices are still low.
Portland SEARCH
The easiest way to start your Portland search is to use the online search capabilities on this Website. This will give you a snapshot of all the homes that are available in your price range, with the amenities you require and the locations you might consider. Next, make contact so that a knowledgeable agent can help you narrow your choices and take you on a personal tour of your best options.
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