5 Reasons Why Buying a Home in Portland Metro Market Is A Good Idea

5 Reasons Why Buying a Home in Portland Metro is a GOOD Idea

This is not going to be your typical list reason why buying a home in the Portland Metro market is a good time.  These reasons are directed toward the very very serious home  buyers who understand these 5 reasons WILL impact them and their financial decisions in the months and years to come.

  1. Interest Rates:  Keeping an eye on interest rates is crucial.  Overall, since the first of 2013, rates  have gone UP . . .  1/8% – 1/4%.
  2. Property Values:  In the past few years, we’ve seen home values DROP considerably.  Since the bust of 2008, the market has fallen overall.  Current trends show that property values are stabilising and in some markets, doing extremely well.
  3. FHA Raises Costs:  In April, the FHA is going to be increasing borrowing costs.  This is a result of governmental oversight and additional regulations.
  4. Low Inventory:  For the first time home buyer market — which is considered to be $250,000 and LESS — the serious home buyers are willing to act quickly and make better offers.
  5. Tightened Underwriting Guidelines:  Although we might not like to hear it, Fannie Mae,  Freddie Mac, VA, FHA  and other lenders have tightened their guidelines in recent years.  While some buyers may see the devil in the details. I look at it as a way for home buyers in the Portland Metro area to find a home they love . . . AND can afford.

Buying a home in Portland Metro is a GOOD IDEA!  The prices HAVE BEEN reduced since 2008, interest rates HAVE been reduced and are the lowest they’ve been, and I suspect inventory will pick up come Spring.

How Can a Buyer Know if They are Ready to Buy in the Portland Metro Area?

When buying a home in the Portland Metro area, here are some simple self-questions you can ask yourself if you are contemplating buying a home in the Portland Metro market:

  • Do I have secure, stable employment? – The economic conditions in Portland Metro are less volatile then years’ past.  If you’ve been employed for 3-5 years at the same company, you may want to answer YES
  • Do I have decent credit?  – You don’t need to run a credit check just yet.  But, answer these questions honesty: 1) Do you have judgments/liens/defaults on your credit? 2) Do you have late fees as a result of paying bills outside of their due dates? 3) Have you filed bankruptcy in the past 5 years? 4) Do you owe child support? 5) Did you recently make a major purchase (car, furniture, trip, etc.).  If you’ve answered NO to these questions, you may have very good credit!
  • Do I have savings? – Most people will answer YES.  Now the question becomes:  How much?  Do you plan on making a down-payment of 10%, 3.5%, 20%?  Do you have funds available to pay for your closing costs?

Buying a home in Portland Metro is a good idea if you have all your ducks lined up and are realistic about the current market.

Current Homes for Sale in Beaverton Under $250000

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Current Homes for Sale in Portland Under $250000

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Buyers Agent Portland – Buyer Focused ~~ Buyer Results

Buyers Agent Portland, LLC is an Exclusive Buyer Agency serving the Portland Metro real estate market since 1999.  The brokerage only represents Home Buyers and never home sellers. If you’re looking for a home anywhere in the Portland Metro area, there is no better representation than an Exclusive Buyers Agent.  We assist investors, folks relocating to Portland area, those moving to Portland in-state, home buyers who are looking to down-size or move-up and of course . . . love working with first-time buyers.  I help Buyers in the Portland Metro market find exactly what they need in the Tri-County markets of Clackamas County, Multnomah County and Washington County, as well Portland cities including but not limited to:

When you’re ready, talk to an Exclusive Buyers Agent.

Exclusive Buyers Agents do not work at real estate brokerages that take listings!

An EBA’s fiduciary duty is: 100% BUYER REPRESENTATION . . . 100% of the Time.

Carla Muss-Jacobs, ABR, CEBA, e-PRO, Realtor
Principal Broker/Owner

Buyers Agent Portland LLC

Office: 503.524.2560
Direct: 503.810.7192

Buyers Agent Portland ~~ 100% BUYER REPRESENTATION . . . 100% of the Time

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