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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Buying Portland Real Estate Below Market Buying Portland Real Estate Below Market
Isn’t that everyone’s dream? I hear it from prospective buyers almost every day and many of them want to find the perfect home priced considerably under market. Is it possible? The answer may surprise you but often it is possible. You just need a sophisticated buying strategy.
Now the idea that you can simply decide one day to go house hunting and find just the Portland real estate you want priced way under market is pushing your luck. But if you take advantage of some of today’s Internet technology, do your homework and bide your time, you might find just what you are looking for. First let’s look at the technology.
On most real estate Websites you can enter the parameters you want for your Portland real estate. Include the price, size, features and location and the technology will notify you automatically the moment a property that meets your needs comes on the market. Now if what you are looking for is a particular type of property for a price that is significantly under market, you’d better be prepared to act quickly because you aren’t the only one who’s looking for a bargain.
Often times, when a home comes on the market priced under the market there are extenuating circumstances. Maybe the house needs maintenance. Maybe the yard needs work. If you are prepared with a certain amount of knowledge about the costs of roofing, painting, landscaping and other types of deferred maintenance, you will be in a position to evaluate whether or not the Portland real estate is priced well enough that it truly is a bargain and not a fixer-upper nightmare.
While the perfect property at the right price might come on the market within a couple of weeks, don’t expect that kind of time frame. You must be prepared to wait months for right property. Remember, most sellers tend to ask MORE than their property is worth, not less so bargains don’t pop up every day. Often times, homes that are on the market for too long a period of time will come down in price as the homeowners get tired of having their house for sale but unless the seller is really pressed, home prices tend to come down is small increments unless there is an unfortunate circumstance that might cause the homeowner to price the Portland real estate under market for the specific purpose of getting a fast sale.
Circumstances that might cause a homeowner to price their home under market include, divorce, illness, death in the family, job change or job loss. These homeowners often don’t have the luxury of lots of time to wait for a buyer who will pay them top dollar. If you are looking to buy a home priced under market, please call me and I’ll help you plan and implement a smart buyer strategy.
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