Real estate agents Portland Oregon

The top 5 percent of homes by price sold in the third quarter saw their values increase 4.9 percent compared with a year ago, hitting an average of $1.71 million, according to Redfin. The number of homes for sale priced at or above $1 million fell just over 18 percent compared with the same period last year. The supply shortage that has been plaguing the nation's housing market for the past two years has now affected the most expensive homes. The number of multimillion-dollar listings is suddenly dropping, and that is only making these pricey homes, well, pricier. The top 5 percent of homes by price sold in the third quarter saw their values increase 4.9 percent compared with a year ago, hitting an average of $1.71 million, according to  Redfin , a real estate brokerage. The higher prices are the result of a sharp decline in listings in the luxury sector. The number of homes for sale priced at or above $1 million fell just over 18 percent compar

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If your house no longer fits your needs and you are planning on buying a luxury home, now is a great time to do so! We recently shared data from  Trulia’s Market Mismatch Study  which showed that in today’s premium home market, buyers are in control. The inventory of homes for sale in the luxury market far exceeds those searching to purchase these properties in many areas of the country. This means that homes are often staying on the market longer which can eventually lead to a price change. Those who have a starter or trade-up home to sell will find buyers competing, and often entering bidding wars, to be able to call your house their new home. The sale of your starter or trade-up house will aid in coming up with a larger down payment for your new luxury home. Even a 5% down payment on a million-dollar home is $50,000. But not all who are buying luxury properties have a home to sell first. In a  Washington Post  article, Daryl Judy, an associate broker with  Washington Fine Prop

According to  Freddie Mac’s  latest  Primary Mortgage Market Survey ,  interest rates for a 30-year fixed rate mortgage are currently at 3.92%, which is still near record lows in comparison to recent history! The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power. Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget. The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments between $1,850-$1,900 a month. With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts predict that mo

In  Trulia’s  recent report ,  Rent vs. Buy: Roommate Edition ,  they examined the impact that renting with a roommate has in determining whether it is more expensive to rent or buy. The study explains: “Since we started keeping track in 2012, it’s been a better deal to buy than rent in America’s largest housing markets – and for much of that time it hasn’t been close.” It then goes on   to ask the question: “But does the equation change for renters who share their rent with a roommate?” The report reveals: “While the standard rent vs. buy analysis reveals buying is cheaper than renting in all of the nation’s 100 largest metros, this doesn’t hold true for those choosing between renting with a roommate and buying a starter home.” It seems obvious that sharing the cost of renting your living space by taking in a roommate dramatically decreases your housing expense (which is exactly what the report concluded), but it got us thinking. What if you purchased a home and took in t

The Grotto

The Matin Real Estate Group does something on a daily basis that many real estate companies cannot boast. "We move a property every other day," said Jordan L. Matin, owner. Unlike many Portland real estate agencies , the Matin Group has a team of realtors on hand to help clients find or sell a home or commercial property. This success has placed the team among the top 20 realtors out of close to 14,000 brokers in Portland. The team has a three-pronged approach to all of their sales: marketing, daily habits and systems. MARKETING The team has its own video and photography expert in house. This means there is a dedicated person concentrating strictly on Portland real estate homes and properties. The photographer has a critical eye and can capture any property in the best possible light, giving the property a better chance of moving and doing so in a short time. DAILY HABITS Each of the Portland real estate agents on Matin' s team move an average of fo

The  National Association of Realtors  (NAR) released their latest  Quarterly Metro Home Price Report  last week. The report revealed that severely lacking inventory across the country drained sales growth and kept home prices rising at a steady clip in nearly all metro areas. Home prices rose 5.3% over the last quarter across all metros. Lawrence Yun,  Chief Economist at NAR , discussed the impact of low inventory on buyers in the report: “Unfortunately, the pace of new listings were unable to replace what was quickly sold. Home shoppers had little to choose from, and many had to outbid others in order to close on a home. The end result was a slowdown in sales from earlier in the year, steadfast price growth and weakening affordability conditions.” What this means to sellers Rising prices are a homeowner’s best friend. As reported by the  Washington Post  in a recent article post: “The rise in median sales prices has made current homeowners much more willing to sell their ho