Portland
Oregon Real Estate - Live Green...Live Well!
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Patrick
Smith, MBA, AHWD
Eco Broker Certified
503-421-3824
Licensed in the State of Oregon
CONTACT PATRICK
4001
NE Halsey Street, Suite 100, Portland, Oregon,
97232
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Is This A Good Time to Buy Portland Real Estate? With all the hype in the past several months concerning short-sales, foreclosures, and the otherwise downward housing market many people have asked me if this is a good time to purchase a home or investment property in Portland. My answer, of course, each time is "it depends".
There is no doubt that Portland real estate Portland real estate prices have moderated and, in many instances, declined mostly due to short-sale or bank-owned (REO) listings. Like any other housing market you should be making a purchase based on your goals for the property. That is, is your purchase going to be a short-term versus a long-term hold? Is your Portland real estate purchase going to be used as a personal residence, a business property, or an investment property?
There is no doubt that there are some excellent purchases to be made right now. In fact, my investment clients are very active in trying to purchase as many Portland area income-producing properties, such as multi-family properties, as possible. Their primary targets are short-sale listings. With a short-sale listing, so long as you have the patience to wait for a response from the seller''s lender (typically 2 to 5 months) it is not unusual to be able to purchase a Portland property with 30 to 50 percent built-in equity! The secret to getting these types of deals is working with an experienced realtor who knows what to look for and who has the experience working with short-sale listings.
So, is it a good time to purchase Portland real estate? You bet your short-sale it is!
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