This year we’ve seen several major trends rock the real estate market here in Portland, and for the next week we’ll be looking back at the big real estate trends and concepts that have made 2011 a great year for the McDonald Group Portland Real Estate experts. Next up, the trend of renting out homes that just aren’t selling in this economy.
Many homeowners–especially in rent-friendly Portland–are buying homes to rent out or are holding on to second mortgages and paying them off with rental income. Rental properties are very successful in Portland–and low prices, low interest rates, and lots of available properties in desirable areas mean this is the best market for investment real estate in over a decade. Income properties in Portland include multi-family residences (like duplexes and tri-plexes), homes with mother-in-law suites suitable for renting to tenants, and room-share options. Portlanders are among the most open in America to sharing homes with strangers–which can mean big bucks for single homeowners or empty-nesters.
The high quality of life and low cost of living in the City of Roses means many young people are showing up–and they need a place to live! Vacancy rates of Portland rentals are in the 3 percent range in Portland, meaning you’re almost guaranteed to fill your income property with renters immediately. Contact the McDonald Group realtors today to ask about income properties and renting single-family homes in Portland.
Are you renting but thinking about taking the steps to homeownership? Though people are attracted to this cosmopolitan West Coast paradise, they often think they need to wait until the market is healthier before purchasing a home. This isn’t so! Signs of a buyers market in Portland are everywhere – this is the time to upsize or move into a more desirable area, as there are literally hundreds of gorgeous homes at rock bottom prices, including luxury foreclosures, high-end short-sales, bank-owned homes, and affordable listing prices on homes priced well below their previous market value. Stop spending your hard-earned money by paying a landlord, and start building equity on a home you own for LESS than you’d pay for rent. The rewards to buying a home are great, especially in a buyer’s market like we currently have. Contact the McDonald Group Portland real estate experts today to find the best deals in town on new construction homes, historic bungalows, affordable condos and more. We’re hear to cut out the landlord and make YOU the boss.
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