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Buying a Home
Rent Or Buy Portland Real Estate
Wondering if you should buy some Portland real estate or simply rent a home? Owning your home can save you money every year according to the chart below. Why? — Partly because of the tax advantages of home ownership; partly because rents on local homes seem to be rising faster than prices of Portland real estate. When you buy a home you can lock in your house payment for 30 years. Rents can rise every year. Here are some questions you need to answer in your rent vs buy considerations: How much do Portland homes cost in your area? Check out our interactive map search here. What would the monthly payment be? Feel free to use our mortgage calculator on the...
Read MoreFive Basics About Rental Property Financing
Portland real estate investors are finding that today’s market creates excellent conditions for buying and owning rental properties. Vacancy rates are low right now. In addition to the normal pool of renters, previous homeowners who have had a foreclosure or short sale of their home need to rent for 2 to 4 years before they can again purchase a home. Then there’s the fact that the prices for Portland homes for sale are at about 2004 price levels. And have I mentioned how low interest rates are right now? This all translates into the perfect time to start real estate investing or to add a rental property to your portfolio. Many would be real estate...
Read MoreWhy Go Green With Portland Real Estate?
We’re a green city so it’s fitting that much of Portland real estate is beginning to employ green building technology. We’re seeing it in new construction and also green remodeling projects. The Earth Advantage Institute is working with the Portland real estate builders and remodelers to rate home energy performance, certify green buildings in the Portland real estate market, and inform builders and home owners about the many energy tax credits. Just in case you need encouragement or a rationale for going green, check out this article by Andrew Hill. The Case for Building Green (in Portland Real Estate) By Andrew Hill @...
Read MoreHow Much Down Payment Do I Need to Buy a Home
It’s easier than you might think to buy a home in Portland. There has been so much news about stricter lending requirements over the past few years. Many folks who could be first time home buyers think they are unable to buy right now. Some folks think you need 10% or 20% of the sales price to buy a home now. Some think there are no loans for first time home buyers. Well I’m here to tell you that is just wrong information. You too can take advantage of historic low interest rates and low prices for Portland real estate. 3.75% is the current FHA loan interest rate for buying a home. (Click here to get more complete information including APR.) Call me...
Read MoreHow to Buy Distressed Properties
Thinking of buying a home in Portland? These days some of Portland’s best real estate values come from buying properties that have issues. We’re talking buying a home in distressed condition (fixer-uppers) or distressed terms (short sale ). Frequently it’s both (cash only terms due to condition). Here’s more about buying Foreclosures. Here’s more about buying Short Sale Properties. Maybe the home needs a new roof and electrical panel. The owner took the furnace with him when he was forced to leave. And the septic system is “iffy.” (I don’t have to make this stuff up. Reality is crazy enough.) Possibly the seller needs his lender to go...
Read MoreBuying a home in Portland? See how to buy more home with less money
Quick before it’s gone.. Attention Portland home buyers. Here’s a great opportunity to make buying a home in Portland affordable. You’ll need to be a first time home buyer and you’ll need to act now to take advantage of the Oregon Bond Loan program. If you qualify and want to search for homes in Portland, use this link to see all the Portland homes for sale in the MLS. Rodd Miller of Pacific Residential Mortgage, LLC sent me the information about this state program. It’s only available for a little while, so call me or call Rod quickly to see if you qualify. Here’s what Rod has to say: The Oregon Bond Loan helps consumers in Oregon buy...
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