Oregon Real Estate

PORTLAND, Ore. – Portland REALTOR® David Somerville says recent housing stats released by S&P and Case/Shiller indicate that continued lower real estate prices in most markets nationwide along with sub-4% interest rates may mean buyers are getting more unprecedented opportunities to buy low. The nationwide study showed housing prices eased slightly in September on a year over year basis, meaning buyers are able to get more home now for less money.

Somerville says the benefit for Portland real estate buyers is compounded by the fact that interest rates on the 30 year fixed mortgage remain below 4%.

"This is truly an amazing time in the market for buyers who can get past the doom and gloom headlines. I believe many homeowners won't see prices this low again in their lifetime."

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Portland, Oregon - Portland Oregon real estate agent David Somerville says young families are being drawn to Downtown Portland's condos and lofts by low prices, good neighborhoods, and close proximity to jobs.

Somerville, who has been selling Portland real estate for over ten years, says the trend of younger buyers coming into the downtown is welcomed by Portland employers and property owners alike, and has helped to revitalize downtown neighborhoods.

"The current housing market is providing some great opportunities for younger buyers to get into Portland condos and lofts at pretty amazing prices."

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Portland, Oregon – Portland area real estate expert David Somerville sees buying opportunities in the current housing market that can be used by first time home buyers and trade-up buyers alike.

Somerville says that the dual combination of historically low prices and interest rates provides a once-in-a-lifetime opportunity for many buyers to lock in lower house payments on Portland real estate than ever before for a much nicer home than they ever thought possible.

"Many people just don't realize how ideal the market is right now. There is an abundance of inventory which tends to bring prices down, of course, but it also provides a better selection of homes to choose from."

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Like all areas of the country since 2005, Portland, Oregon real estate has been priced better by the market in recent months. This is advantageous for homebuyers who wish to buy a Portland area property for the first time, or move up to a bigger home. You can now find wonderful, gorgeous condos in Portland to give your family a better lifestyle, and you can find them at highly discounted prices compared to a few years ago.

There are several methods to find Portland real estate that fit your lifestyle. With purchase price being such an important issue for most families, it definitely pays to develop a strategy that meshes with your personality to find that perfect piece of property.

Generally, the best process for purchasing an affordable house with the fewest number of problems is to get approved ahead of time. There is a significant difference between getting prequalified and preapproved, however. Getting pre-qualified is simply meeting some basic requirements for credit worthiness. Getting pre-approved, on the other hand, occurs when you have actually applied for a mortgage and been approved.

You'll see that getting pre-approved for a Portland property will make your life much simpler when it is time to make an offer.

Of course, the fun part of the home shopping process (usually, at least) is searching for properties on an easy to use website. It's true that this can be frustrating when you are not finding the perfect match, but there is usually an ample supply of homes to meet most families expectations for their dream home.

Another great technique you can use to search for affordable property is to search for Portland homes on your mobile device. This can save you a lot of time by giving you the freedom to drive around to properties and get more detailed info on them when you find them.

Lastly, but perhaps most importantly, you need to find a qualified Portland real estate agent to help you in your search. There are tens of thousands of properties out there in the many neighborhoods in Portland and its suburbs, like Lake Oswego and Beaverton. It will save you a lot of time to have a conversation with a real Portland real estate expert.

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