Read my Portland, Oregon real estate blog: I consistently publish entries about the Portland real estate market. You will learn what the market is doing, how fast homes sell, which areas are appreciating the most, and other tips relative to buying a home in the Portland metro area. Ever dealt with underground oil tank issues or how to decommission them? Why are sewer scopes important and who is responsible for repairing the line? These are just a couple of the issues that homebuyers should understand. I monitor these issues and the housing market to better serve you.
View Portland neighborhoods in pictures via my PDX neighborhood blog or take a video tour of Portland neighborhoods. Portland has more than 75 unique neighborhoods. In NE Portland, you will find historic areas such as Alameda, Irvington, and Laurelhurst. In SE Portland, the Hawthorne, Sunnyside, Sellwood, and Eastmoreland neighborhoods areas remain top draws. Of course, this is only a small part of the city’s east side. On the west side of Portland, there are the SW Hills, Multnomah Village, Pearl District, and more. By visiting my neighborhood blog, you’ll get a glimpse of these neighborhoods and some of the suburbs as well. I help clients in all areas of Portland.
Speak to a lender. Unless you’re buying with cash, you’ll need to find a lender with a good reputation. Knowing how much you can afford makes it easier to search for your Portland home. I cannot underscore the importance of speaking to a lender or mortgage broker at the start of your Portland house hunt. And in a hot market, you need to be prepared with financing before you make the offer or fear losing the home. If you don’t already have a lender in mind, I can refer you to some with outstanding reputations. Remember, each loan should be customized to your unique situation.
Work with a Realtor. Realtors are real estate agents that abide to a national Code of Ethics. Therefore, Realtors have your best interest in mind - not theirs. They also happen to be experts in their field.
Consider new construction. This is a free, no-lose opportunity if you want to buy a brand new house or condo. Builders pay Realtors for bringing buyers and the cost is already built into the builder’s marketing budget. With or without a real estate agent, you will pay the same price. Just ask the builders! Besides, lowering the sales price because you’re not working with a Realtor would actually decrease the value of the subdivision or development being built. So why not work with a Realtor that will guide you thru the process and look out for your interest at no extra cost? The only catch is that you have to visit the model homes WITH your Realtor on your first visit.
Know the basics. Many of Portland’s homes were built before 1978. Federal law therefore requires that a home buyer be given a lead-based paint disclosure from the seller. Here is a lead-based paint fact sheet. And here is a lead-based paint pamphlet provided by the federal government.

Portland Year-by-Year Sales Prices

Portland Average Sales Prices – This PDF details the average sales price and appreciation rates of all Portland areas and suburbs dating back to 1992. The real estate areas included are North Portland, Northeast Portland, Southeast Portland, Gresham & Troutdale, Milwaukie & Clackamas, Oregon City, Lake Oswego & West Linn, West Portland (SW Portland), Northwest Washington County, Beaverton & Aloha, Tigard, Tualatin, Sherwood, Wilsonville, Hillsboro & Forest Grove.

 

Portland Median Sales Prices – This PDF details the median sales price and appreciation rates of all Portland areas and suburbs dating back to 1992. The real estate areas included are North Portland, Northeast Portland, Southeast Portland, Gresham & Troutdale, Milwaukie & Clackamas, Oregon City, Lake Oswego & West Linn, West Portland (Southwest Portland), Nortwhest Washington County, Beaverton & Aloha, Tigard, Tualatin, Sherwood, Wilsonville, Hillsboro & Forest Grove.

Current Median Sales Prices For Portland

 

Moving to Portland? You may have heard that housing is less expensive just across the Columbia River in Vancouver, Washington. It’s true. Vancouver, generally speaking, is a little less expensive. And there is no income tax in the state of Washington. However, you cannot avoid the income tax if you work in Oregon, yet live in Washington. You must work and live in Washington in order to avoid the Oregon income tax. That said, there’s no sales tax in Portland or Oregon for that matter. Here is tax information for relocation purposes if you’re considering Vancouver. I do not practice real estate in Washington, but know some quality Realtors that do. I’d be happy to refer you to some if you’d like. By the way, there’s one other thing that is hard to avoid commuting from Portland to Vancouver and vice versa… the traffic!

How much will real estate taxes rises in a year? Here is some information on tax increases and how they work in Oregon.

How does Portland compare to your current city? Many Californians see Portland as a bargain, but I’ve heard people from other parts of the country disagree. Here is a cost of living comparison for Portland.

Lake Oswego, Oregon

Lake Oswego is the most expensive city/suburb in the Portland metro area. Home buyers are drawn to it for a variety of reasons. The Lake Oswego School District consistently ranks high and real estate in Lake Oswego tends to be in high demand. From First Addition to Mountain Park or Summitt Ridge, there are a variety of unique Lake Oswego neighborhoods to choose from. At the close of 2005, the average sales price of a home in Lake Oswego was $452,600.