Real Estate News and Profiles

Ready to Buy Portland Oregon Real Estate? It’s Competitive Out There

By Portland Metro Live

PORTLAND, Ore. – If you’re getting ready to buy Portland Oregon Real Estate the good news is that there are homes for sale in Portland, but the competition is fierce right now, and some byers are even going as far as paying $100,000 over the asking price for some homes.

Hot Portland Neighborhoods Are Competitive

Thanks to a recent article published on KATU.com we know that some homes in Portland are lighting the competitive spirit in buyers.

For example: A recent home which was sold in the Portland Oregon neighborhood of Alameda received six bids total, and what’s shocking about that is five out of those six bids were $100,000 or more over the homes asking price.

Another home which sold in the same neighborhood for $320,000 back in late 2004 is now on the market again, and the asking price is $700,000.

Inventory Being Sucked Up Fast

Some people may ask “but what about the new home inventory?” and the answer is that new inventory is also being sucked up fast as well when it comes to market plus many new homes are bought these days even before framing starts.

What’s brining more people to Portland? For starters it’s the tech industry which has seen more people call Portland home in the last year but it’s also livability which has brought people from around the world to buy Portland homes if they are serious about changing their lives.

How Not To Miss a Portland Real Estate for Sale

Before you buy Portland Oregon Real Estate make sure you follow this simple checklist for optimum success:

#1 – Check your credit to do what you can to boost your credit score to 700 or better.

#2 – Get pre-approved for a mortgage loan.

#3 – Hire a Good Realtor/broker because a good Realtor is on top of the market and can get you to the prime listings first! Plus many brokers manage rentals in the area which they may be planning to sell.

#4 – Review homes as soon as they come to market instead of waiting until the weekend.

#5 – Write a personalized letter to the owner when you submit your offer.

Good Luck – its competitive out there!