Thoughts on the $$PORTLAND REAL ESTATE MARKET (Milwaukie, Detroit: credit, house)

[grassfeeder]

Originally Posted by KJoe11

I live in nice part of Hillsboro. If my home goes for $157 a square foot, I would be willing to sell at $180 a square foot. I don't want to be hassled for anything less. How do you let realtors know you would be willing to move for the right price?

claim your house on zillow and place a "make me move" price. realtors are tied into that and will be pinged. you'll most likely start seeing people reach out.

With that said, I'd be willing to sell as well however location is king and things in the area, in my opinion, are so over valued I fall into the problem of there being nothing to buy - so why sell only to create problems buying. May as well just keep riding the 8% annually I'm making on this till things level just a touch.

[lovelysky]

Originally Posted by KJoe11

I live in nice part of Hillsboro. If my home goes for $157 a square foot, I would be willing to sell at $180 a square foot. I don't want to be hassled for anything less. How do you let realtors know you would be willing to move for the right price?

That is exactly the mindset of most sellers in Portland. And that is why I (buyer) am frustrated because I don't want your Hillsboro POS for $180 sq ft. LOL.... (i'm sure your house is very nice..but generally this is what I am seeing...butt ugly houses for top dollar.) and Arrogant homeowners looking to cash in. (i may do the same in your situation so i dont take offense in thinking but it is annoying for buyers here!)

As for your question.... Any realtor will gladly take your offer. You are the boss in that situation.

Of course, it will probably sit on the market for a long time especially if its around 3000 sq ft.
I just can't see very many families that earn a good living be willing to move into Hillsboro when the overall school scores are so LOW. Im not saying the schools are bad but from an outsiders view it doesn't look good and it really only are the outsiders who would be willing to pay top dollar.

Anyway, I'm not willing to send my children to low rating schools... Ive been there, done that already back in Cali. But I would pay $180 sq ft in an area with high school ratings...no problem.

Im not sure if that helped answer your question but I enjoyed writing my rant

[pdxMIKEpdx]

Take a look at this:
Portland Home Prices and Home Values - Zillow

As one of those "arrogant" homeowners getting ready to sell two properties in the Woodstock neighborhood, I don't know what to think.

Maybe I should just keep renting them out cheap to family members, and wait!

At least you're not like the "artists" from Tucson that want to move to Oregon and expect to find an area with beautiful views, 1 to 5 acres of land, culture, creativeness, nice house, good schools, safe liberal neighborhoods, close to medical care, no "rednecks", etc, for $250,000.

[grassfeeder]

Originally Posted by lovelysky

That is exactly the mindset of most sellers in Portland. And that is why I (buyer) am frustrated because I don't want your Hillsboro POS for $180 sq ft. LOL.... (i'm sure your house is very nice..but generally this is what I am seeing...butt ugly houses for top dollar.) and Arrogant homeowners looking to cash in. (i may do the same in your situation so i dont take offense in thinking but it is annoying for buyers here!)

As for your question.... Any realtor will gladly take your offer. You are the boss in that situation.

Of course, it will probably sit on the market for a long time especially if its around 3000 sq ft.
I just can't see very many families that earn a good living be willing to move into Hillsboro when the overall school scores are so LOW. Im not saying the schools are bad but from an outsiders view it doesn't look good and it really only are the outsiders who would be willing to pay top dollar.

Anyway, I'm not willing to send my children to low rating schools... Ive been there, done that already back in Cali. But I would pay $180 sq ft in an area with high school ratings...no problem.

Im not sure if that helped answer your question but I enjoyed writing my rant

clearly you're a outsider and with your current mindset won't be buying anything any time soon around here.

[lovelysky]

Originally Posted by pdxMIKEpdx

Take a look at this:
Portland Home Prices and Home Values - Zillow


At least you're not like the "artists" from Tucson that want to move to Oregon and expect to find an area with beautiful views, 1 to 5 acres of land, culture, creativeness, nice house, good schools, safe liberal neighborhoods, close to medical care, no "rednecks", etc, for $250,000.

SOLD!... We can negotiate a bit more on the price. I am willing to be flexible... I need at least one local redneck with a truck.

[bler144]

Originally Posted by ninjamyst

I am from Chicago looking to buy in the next 2 years in Portland. Will I be sticker shock or is the housing market similar to Chicago? Looking to buy a townhouse or single family house close to downtown in the mid 400s.

I think you'll probably feel you have pretty decent options at that price range. The place the market is really squeezed is for houses under $300k, and esp under $250k.

That may seem crazy low, but the reality is the median household income in Portland is about 41k, and median family income is 50k (Chicago is 48/54 despite having a higher rate of poverty).

At 400k you can probably cross off Laurelwood or Grant Park, but just about anywhere else is at least in play.

People bringing in home equity they've cashed out in other markets will probably find Portland's RE market pretty amenable, but outside of a few high-paying fields, there's a reason competition for housing at least starts slimming down once you get north of $300k - comparatively there's still quite a bit of housing stock, and at least a bit (personally I suspect significantly) less demand.

[Mclaurin]

Lovelysky,

I agree with you the market is crazy expensive. Yet, where can you go on the west coast where this is not true.

So, consider the projections of population increases for the metro area. People are not going to stop coming here.
Prices will continue to rise. I recommend buying now if you are going to stay in the area. Interest rates are low.

Projected real estate increases are 4% in city, and a bit lower outside of the urban core.

Consider the tax benefits of home ownership vs renting. Seriously.

Sounding like a realtor here, but that's my 2 cents.

It is frustrating, best of luck to you. Wish it were easier for us all.

[grassfeeder]

I'd say 4% is conservative too. I project 6-8% in desirable areas.

[Mclaurin]

Hope your right grassfeeder, sounds good to me. Just not sure where to downsize, but that's another thread.

[grassfeeder]

Originally Posted by Mclaurin

Hope your right grassfeeder, sounds good to me. Just not sure where to downsize, but that's another thread.

I've got the opposite problem....we're looking at increasing our footprint however I have had a near impossible time of finding anything of quality and value at the $400-430k range in the west side of town. I will admit, being a designer does provide a disadvantage but still....