How Do Interest Rates Affect The Home Buyer?

How Do Interest Rates Affect the Home Buyer?

According to the United States Census Bureau the average home price in the Nation in 1983 was hovering around $90,000 (on average).  The average interest rate in 1983 was hovering around 13.40%.

Using these averages, a home mortgage payment using only the principal and interest (excluding property taxes and home insurance) would have been: $1,023 per month.

1983 Home Prices vs. 2015 Home Prices

Interest rates are still very low by historical standards ~ 3.8% in May 2015. There’s still time to buy a home and keep your fixed monthly carrying costs low for the next 30 years.

 interest rates

Interest rates are projected to go up by as much as a full percent by 2016. Now is truly the time to buy and lock in the low rates. Even a relatively small increase in interest rates can significantly impact the price of a home you could qualify to purchase (see chart below). Securing a loan today at lower interest rates means you can buy “more” house with the same money. Doesn’t it make sense to spend your money on your “dream” home and not on interest?

According too the United States Census Bureau the average home price in the Nation in 2011 is hovering around $260,000.  The average interest rate in 2011 is hovering at (an all time low) of 4.0.%.

Using these averages, a home mortgage payment using only the principal and interest (excluding property taxes and home insurance) based on 4% would be:  $1,241.00

interest rates matter

Doing the Math

I need to be clear I am NOT quoting a rate to anyone.  I am not a lender and I do not do loans.  The purpose of this article is to look at historical values and than do the math . . . 1983 @ $1,023/month vs. 2011 @ $1,241/month

Now tell me . . . what are buyers waiting for?

US Census Bureau Housing Price Averages  Jan. 1963 to July 2011

Housing Price Averages US Census Bureau Jan. 1963 to July 2011

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
Direct: 503.810.7192

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

All rights reserved©

Tips Portland Buyers Can Use When Viewing Property For Sale

Tips Portland Buyers Can Use When Viewing Property

Most Buyers in the Portland Metro real estate market will begin their search for properties for sale on the Internet.

This can be said of Buyers Agent Portland as well.  A Realtors’® search begins online as well.

Search Properties For Sale in the Portland Metro Area

When searching for homes for sale in Portland here are a few tips.

For Your Internet Search:

  • Don’t discount a property just because the photos are lousy
  • Realize that some listing agents aren’t exactly Ansel Adams
  • Photos of property for sale in Portland that are taken on a cloudy day DO NOT look as nice had those same photos been taken on a sunny day
  • The listing agent may not take enough photos of the living room, or the kitchen or other rooms a Buyer might want more views of.  If the home is intriguing, view it with your agent.
  • Some homes are more photogenic then others.  While some Portland homes for sale may look stunning in the photo, rooms sizes, floor-plans and layouts may not be accurately depicted
  • Some homes might not be photogenic at all.  “Designer Colors” on walls can appear very bright, or overpowering in photos.  Could be a distraction . . . but don’t let it be
  • Listing agent takes photos of exterior with shadows, or interiors without proper lighting.  These types of things can make a property appear smaller, or darker than it really is
  • Photos of the home may be taken in the height of summer when the flowers are all blooming nicely, the trees are full of leafs, the grass is sparkling green.  Touring it in the dormant seasons of late-fall or winter might make the property seem less vibrant

When You Physically Tour a Property

  • Plan on the physical tour to be your reality check.  Photos are great, video tours, virtual tours as well.  But there is nothing more practical when looking at homes for sale in Portland Metro real estate market then to schedule a tour and physically inspect the property
  • Try to look passed the Sellers’ stuff.  There may be an “over abundance” of stuff stored in the garage, or spare rooms, or on the kitchen counters.  Too much of the Sellers’ stuff can make a home feel too cluttered.  Too much clutter makes the feel of the home seem smaller then it might actually be.
  • Try to envision the dark wine colored kitchen walls repainted with a lighter color.  Kitchens may actually feel smaller when they are painted with dark colors.
  • Vacant homes might have been pictured WITH furniture, especially a distress property sale.  Owners may have moved out and the lovely floor runner in the hallway is gone and it now looks barren
  • Vacant homes may be in need of a lawn mow and weed pull.  The flowers beds that were so well-tended in the photos are now in search of a new green thumb.

Buyers Agent Portland

Buyers Know What They Want

I’ve represented clients who could see passed the cluttered kitchens, the “Glamour Shot” photos, the glaring paint, the clutter.  I’ve been out with clients and was also surprised that the bright, blue wall in the kitchen really wasn’t so bad after all.

The point is to let the photos give you a sense of the property.  But keep your options open.  The more property you see, the more likely it will be that you are going to find a home for sale that you want to call home.

Homes for Sale in Portland

  1. 3 beds, 3 full, 1 part baths
    Home size: 3,998 sq ft
    Lot size: 9,147 sqft
    Year built: 1992
    Parking spots: 2
    Walk Score®: 80
    Broker reciprocity icon
  2. 3 beds, 2 full, 1 part baths
    Home size: 2,759 sq ft
    Lot size: 13,939 sqft
    Year built: 2014
    Parking spots: 3
    Walk Score®: 14
    Broker reciprocity icon
  3. 5 beds, 5 full, 2 part baths
    Home size: 8,752 sq ft
    Lot size: 20,908 sqft
    Year built: 1911
    Parking spots: 3
    Walk Score®: 78
    Broker reciprocity icon
  4. 3 beds, 1 full bath
    Home size: 919 sq ft
    Lot size: 18,730 sqft
    Year built: 1953
    Broker reciprocity icon
  5. 5 beds, 6 full, 1 part baths
    Home size: 9,188 sq ft
    Lot size: 5.10 ac
    Year built: 2000
    Parking spots: 4
    Walk Score®: 3
    Broker reciprocity icon
  6. 4 beds, 1 full bath
    Home size: 2,184 sq ft
    Lot size: 1.28 ac
    Year built: 1922
    Parking spots: 1
    Walk Score®: 43
    Broker reciprocity icon
  7. 5 beds, 1 full bath
    Home size: 3,975 sq ft
    Lot size: 19,166 sqft
    Year built: 1945
    Broker reciprocity icon
  8. 8 beds, 6 full, 4 part baths
    Home size: 8,965 sq ft
    Lot size: 16,552 sqft
    Year built: 2001
    Parking spots: 3
    Walk Score®: 11
    Broker reciprocity icon
  9. 4 beds, 4 full, 1 part baths
    Home size: 5,206 sq ft
    Lot size: 15,246 sqft
    Year built: 1999
    Parking spots: 3
    Walk Score®: 75
    Broker reciprocity icon
  10. 3 beds, 2 full, 1 part baths
    Home size: 2,842 sq ft
    Lot size: 3,484 sqft
    Year built: 2010
    Parking spots: 2
    Walk Score®: 54
    Broker reciprocity icon
  11. 4 beds, 2 full baths
    Home size: 1,728 sq ft
    Lot size: 15,681 sqft
    Year built: 1960
    Parking spots: 2
    Walk Score®: 57
    Broker reciprocity icon
  12. 5 beds, 3 full, 1 part baths
    Home size: 2,634 sq ft
    Lot size: 8,276 sqft
    Year built: 1998
    Parking spots: 2
    Walk Score®: 52
    Broker reciprocity icon
  13. 5 beds, 6 full, 2 part baths
    Home size: 9,168 sq ft
    Lot size: 1.34 ac
    Year built: 1928
    Parking spots: 3
    Walk Score®: 48
    Broker reciprocity icon
  14. 4 beds, 1 full, 2 part baths
    Home size: 3,500 sq ft
    Lot size: 7,405 sqft
    Year built: 2001
    Parking spots: 3
    Walk Score®: 8
    Broker reciprocity icon
  15. 4 beds, 6 full, 1 part baths
    Home size: 7,528 sq ft
    Lot size: 29,185 sqft
    Year built: 2003
    Parking spots: 2
    Walk Score®: 83
    Broker reciprocity icon

See all Real estate in the city of Portland.
(all data current as of 8/4/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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, Principal Broker/Owner
Buyers Agent Portland LLC

Direct: 503.810.7192

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

All rights reserved©

Are You a First Time Home Buyer in Portland Oregon?

Are You a First Time Home Buyer in Portland?

Are you Buying a Home in Portland For the First Time?

Portland OR and the Metro Portland Area including the suburban communities of:

make up 47% of the total population in the State of Oregon.

Are You Renting vs. Buying in Portland?

If you’re renting in the Metro Portland area, you may be thinking of buying.  If you’re a first time home buyer in Portland I have GREAT resources for you.

The Portland Housing Bureau is a good place to start for the first time home buyer.

Other resources for Portland Metro first time home buyers:

Many of the first time home buyer programs in Portland require attendance and/or completion of the first time home buying courses offered to be eligible for program benefits.  Please contact the program for details.

Search for homes for Sale in Portland

  1. 2 beds, 1 full bath
    Home size: 825 sq ft
    Lot size: 3,484 sqft
    Year built: 1926
    Parking spots: 1
    Broker reciprocity icon
  2. 2 beds, 2 full, 1 part baths
    Home size: 1,316 sq ft
    Year built: 1979
    Parking spots: 2
    Walk Score®: 15
    Broker reciprocity icon
  3. 4 beds, 2 full, 1 part baths
    Home size: 2,660 sq ft
    Lot size: 8,712 sqft
    Year built: 1957
    Parking spots: 2
    Broker reciprocity icon
  4. 2 beds, 2 full, 1 part baths
    Home size: 2,211 sq ft
    Lot size: 3,049 sqft
    Year built: 1990
    Parking spots: 1
    Broker reciprocity icon
  5. 3 beds, 2 full, 1 part baths
    Home size: 1,508 sq ft
    Lot size: 2,613 sqft
    Year built: 2011
    Parking spots: 1
    Broker reciprocity icon
  6. 2 beds, 2 full baths
    Home size: 1,999 sq ft
    Year built: 1985
    Parking spots: 1
    Broker reciprocity icon
  7. 3 beds, 2 full, 1 part baths
    Home size: 1,816 sq ft
    Lot size: 6,969 sqft
    Year built: 1988
    Parking spots: 2
    Broker reciprocity icon
  8. 4 beds, 2 full, 1 part baths
    Home size: 2,832 sq ft
    Lot size: 7,405 sqft
    Year built: 1987
    Parking spots: 2
    Broker reciprocity icon
  9. 4 beds, 2 full baths
    Home size: 3,295 sq ft
    Lot size: 5,662 sqft
    Year built: 1937
    Parking spots: 1
    Broker reciprocity icon
  10. 2 beds, 2 full baths
    Home size: 1,146 sq ft
    Year built: 1996
    Parking spots: 2
    Broker reciprocity icon
  11. 3 beds, 1 full bath
    Home size: 1,048 sq ft
    Lot size: 6,534 sqft
    Year built: 1948
    Broker reciprocity icon
  12. 4 beds, 3 full baths
    Home size: 2,686 sq ft
    Lot size: 20,908 sqft
    Year built: 1949
    Parking spots: 1
    Broker reciprocity icon
  13. 3 beds, 1 full bath
    Home size: 2,528 sq ft
    Lot size: 19,166 sqft
    Year built: 1922
    Parking spots: 1
    Broker reciprocity icon
  14. 3 beds, 2 full baths
    Home size: 1,882 sq ft
    Lot size: 6,098 sqft
    Year built: 1923
    Broker reciprocity icon
  15. 3 beds, 1 full bath
    Home size: 992 sq ft
    Lot size: 10,018 sqft
    Year built: 1979
    Parking spots: 2
    Broker reciprocity icon
  16. 4 beds, 2 full, 2 part baths
    Home size: 3,300 sq ft
    Lot size: 7,840 sqft
    Year built: 1927
    Parking spots: 1
    Broker reciprocity icon
  17. 2 beds, 2 full baths
    Home size: 1,465 sq ft
    Year built: 2007
    Parking spots: 2
    Walk Score®: 86
    Broker reciprocity icon
  18. 3 beds, 2 full baths
    Home size: 2,392 sq ft
    Lot size: 4,791 sqft
    Year built: 1906
    Parking spots: 1
    Broker reciprocity icon
  19. 5 beds, 4 full baths
    Home size: 4,033 sq ft
    Lot size: 6,534 sqft
    Year built: 2015
    Parking spots: 2
    Broker reciprocity icon
  20. 3 beds, 2 full baths
    Home size: 2,440 sq ft
    Lot size: 5,227 sqft
    Year built: 1944
    Parking spots: 2
    Broker reciprocity icon
  21. 6 beds, 4 full baths
    Home size: 4,272 sq ft
    Lot size: 6,534 sqft
    Year built: 2015
    Parking spots: 3
    Broker reciprocity icon
  22. 3 beds, 2 full baths
    Home size: 1,040 sq ft
    Lot size: 6,969 sqft
    Year built: 1980
    Parking spots: 2
    Broker reciprocity icon
  23. 1 bed, 1 full bath
    Home size: 749 sq ft
    Year built: 1982
    Broker reciprocity icon

See all Real estate in the city of Portland.
(all data current as of 8/4/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

As an Exclusive Buyer Agent in the Metro Portland market, I’ve been assisting first time home buyers since 1999!

Map of Portland Oregon


View Larger Map

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, Principal Broker/Owner
Buyers Agent Portland LLC
Direct: 503.810.7192

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

All rights reserved©

Moving to Portland

Moving to Portland

Moving to Portland and I did just that in July 1990. My family and I moved to the Metro Portland area from Los Angeles and it was probably the best move I’ve ever made. Of course, I was like any other buyer moving to Portland, I didn’t understand the lay of the land, I didn’t know about the commutes or traffic patterns and I certainly didn’t know the easiest way to get from Beaverton to Portland, but I acclimated.

Taking Pride in Helping Relocation Buyers With Their Move to Portland

When representing Buyers who are moving to Portland I take great pride in ensuring a few particulars:

  • My clients become acclimated to the Portland neighborhoods BEFORE they make a decision to purchase
  • My clients are familiar with unique Portland neighborhoods BEFORE they make a decision to purchase
  • My clients understand the Portland commute patterns during the morning and evening rush hours BEFORE they make a decision to purchase
  • Helping my clients identify Portland areas, Portland neighborhoods are a first priority . . . then honing in on properties that make sense to their life

No matter what your decisions might be for moving to Portland, the Portland Oregon area is one of the nation’s best-kept secrets. From the Downtown Center City, drive due west for about one hour and hit the Oregon Coast. Not into the sand and salt-sea air? Drive about one hour due east and hit the slopes! Mt. Hood is opened yearlong. Are you into hiking, biking, and wine tasting?

So you’re contemplating a move to Portland, Oregon? Perhaps you’ve landed a job and are relocating due to employment related reasons? Or, maybe the affordable cost of living brings you to town, especially if you’re moving up from California, or heading west from the East Coast. You are in the right place. Portland has long been considered one of the nation’s top ten livable cities.

Currently, Portland is a leader in it’s usage of sustainable building practices in many condo projects

That’s just for starters. If you can name it, you’ll find it here or there but not very far from your reach.

If you’re not familiar with the lay of the land, your relocation to Portland should be considered an adventure. Where else can you see century old historic properties FOR SALE in the Laurelhurst neighborhood, for example.

The Portland area is divided into five rich and diverse neighborhoods of NE Portland, NW Portland, SE Portland, SW Portland and N Portland. Finding out about the areas is something I help my clients with. There is sure to be a place you can call home in a Portland Neighborhood that you like.

From the urban areas of NW (The Pearl District, The Alphabet Blocks) to the SW suburbs, I know the neighbors and have assisted many buyers as they were making their plans and moving to Portland. For an in-depth consultation about your plans to relocate to Portland, please feel free to contact me. Buyers Agent Portland’s Other Portland Metro Guides:

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
Direct: 503.810.7192

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

All rights reserved©

Search the Portland MLS for Homes for Sale

MLS Search Portland Oregon

Search the Portland MLS for Homes for Sale

The Portland MLS is named the RMLS which stands for Regional Multiply Listing Service.  When buyers are searching the Portland MLS for Homes for Sale they are searching on the RMLS.

While it’s fun to search the Portland MLS for Homes for Sale and consumers can use my site Buyers Agent Portland without the interruptions of pop-ups, forced registrations, etc., it’s not the only function that real estate agents use.  When we search the Portland MLS for Homes for Sale we use the RMLS data base and it’s very thorough in the information we obtain.

Search the Portland MLS for Homes for Sale

Here you can search for home for sale in Portland on the RMLS.

 

Search the Portland MLS for Homes for Sale

Keep in mind, I am a Buyers Broker.  My clients retain my services in order to assist them in their home purchase.

Buying a home and looking at pretty pictures of homes for sale on the Portland MLS are two different things.

The listing agent works for the sellers.  Do you know that when you tell them all about your ability to purchase, you might be telling them too much??

My clients have a TRUE FIDUCIARY working for them.  They search for homes on the Portland MLS but I search for homes for them as well.

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, Principal Broker/Owner
Buyers Agent Portland LLC

Direct: 503.810.7192

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

All rights reserved©