What First Time Buyers in Portland Need to Know:
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Is Portland A First Time Buyers Market
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Is Portland a Sellers Market
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Is the Portland Real Estate Market Stable
Quite a few first time buyers in Portland think they know the Portland real estate market.
But when first time buyers think the Portland Real Estate market is headed in one direction, but the numbers aren’t supporting that . . . they should talk to an Portland Buyers agent familiar with the Portland real estate market for a clear understanding of the current market.
For example, there are currently many first time buyers in Portland that may think it’s a Buyers’ Market.
However, since June 2011 it’s been very close to a STABLE / NEUTRAL real estate market in Portland.
The Portland Buyer’s Real Estate Market
A “Buyers Market” is simple: There are more homes available (inventory) for sale than buyers to purchase them.
When buyers have more homes to tour, that increases the likliehood that a buyer will find one that matches their wants / needs. A “buyers market” is optimal for the First Time Home Buyer. But, it should not be the only time a first time home buyer in Portland should consider entering the market to buy their first home. Many things make up a first time buyers decision to purchase: Condition of the property, location of the property, price of the property, interest rates, and the ability the first time buyer has to complete a home purchase.
Signs of a Buyer’s Market
- Inventory is high compared to previous months / years.
- More than six months of inventory is on the market.
- Comparable sale prices are LOWER than active listing prices.
- Fewer buyers are purchasing, resulting in lower closed sale numbers.
- Median sales prices are declining
Seller’s Real Estate Markets
If you are a home owner who wants to sell a house in a seller’s real estate market, this is the best financial market in which to sell. Why? Because there are more buyers than available houses to buy.
Signs of a Seller’s Market
- Inventory is very low as compared to previous months / years.
- Less than six months of inventory is on the market.
- Comparable sale prices have closed at FULL LIST PRICE or have closed HIGHER
- More buyers are purchasing, resulting in higher closed sale numbers.
N
eutral Real Estate Markets
The “neutral” or “stable” real estate markets are balanced. In a stable real estate market interest rates are affordable (which they are NOW, listen up first time home buyers) and the number of buyers and sellers in the marketplace are equalized.
The scales don’t tip in either direction, meaning the market is normal without experiencing volatile swings.
Signs of a Neutral Market
- Inventory is normal as compared to previous normal months / years.
- Three to six months of inventory is on the market.
- Comparable sale prices are close to active listing prices.
- Sales numbers have stabilized.
- Median sales prices are flattened.
What First Time Buyers In Portland Need to Know . . . Absorption Rates
Since June 2011, the adsorption rate in the Portland Real Estate Market is hovering around 6.0, tipping a little closer to 7.0 in September. But to say this is a strong “Buyers” market in Metro Portland might be a tad wishful thinking. The market is not a Seller’s market and for all intents and purposes, the Portland Metro Real Estate Market is finding equilibrium and teetering towards STABLE.
- Sellers Market: 1 to 5 months supply of homes
- Neutral / Stable Market: 5 to 6 months supply of homes
- Buyers Market: More than 6 months supply of homes
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2011 started off with a very strong buyers market in Portland real estate. But, the absorpotion rate for the past six months have been bordering neutral / stable. The Portland Real Estate market has gained an equilibrium since June 2011.
In my earlier reports:
the INVENTORY is off compared to the same months of October and November 2010. I’m going to try to stay current on these monthly reports and perhaps concentrate on absorption rate in the Portland real estate market to keep my finger on the pulse so Buyers don’t have to. Just check out my reports!
I offer my clients — including working on behalf of many first time home buyers — assistance in ANY MARKET . . . negotiating the best possisble terms and conditions
Portland Buyers Agent – Real Estate Expert in the Portland Metro Area
EBA Portland, LLC is an Exclusive Buyer Agency serving the Metro Portland real estate market since 1999. I only represent 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. I assist investors, folks relocating to Portland area, those moving to the Portland area 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:
- Beaverton homes for sale
- Tigard homes for sale
- Hillsboro homes for sale
- Lake Oswego homes for sale
- Portland homes for sale
When you’re ready, talk to an Exclusive Buyers Agent. Exclusive Buyers Agents do not work for listing brokerages or Sellers. An EBA’s fiduciary duty is: 100% BUYER REPRESENTATION . . . 100% of the Time. Contact me for all Portland Housing.
Carla Muss-Jacobs, Principal Broker/Owner
EBA Portland LLC
1722 NW Raleigh St., Suite 116
Portland, OR 97209
BEAVERTON OFFICE:
14845 SW Murray Scholls Blvd, #110-518
Beaverton, OR 97007
Office: 503.524.2560
Direct: 503.810.7192
EBA Portland ~~ 100% BUYER REPRESENTATION . . . 100% of the Time
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