Portland Real Estate Trends: Homeowners Slashing Prices

In a report published in the Portland Business Journal yesterday, we learned that thirty-two percent of Portland homes for sale, listed since the beginning of this month, experienced at least one price reduction. That ranked Portland No. 16 on the website Trulia’s list of price reductions in America’s 50 largest cities.

The average reduction for Portland homes was 9 percent, just under the national average of a 10 percent reduction on 25 percent of newly listed homes. With historically low interest rates, cutting-edge sustainability renovation rebates and low remodeling costs, and a high supply of beautiful homes for sale with great Walk Scores, this is a perfect time to grab a great deal.

As Scott McDonald of the McDonald Group said back in June, “We all know mortgage rates are low right now, but Freddie Mac really put a light on it by saying they are currently lower than they have been since they began tracking this data in 1971 and MSNBC.com states the last time they were this low was in the 1950′s. Yup, the economy stinks right now, but if you’re in a position that’s somewhat insulated from economic trends and are thinking of buying a home, now really is the time.”

Let’s repeat: Now is the time to buy a home in Portland. Luxury homes in the Portland area are steeply discounted, and first-time homebuyers can find opportunities to own their own spot in one of Portland’s hip neighborhoods. The McDonanld Group is your experienced Portland Realtor, and we’re ready to help you grab a great deal on a great home, so contact us today. We’ve got access to the best homes for sale in Portland, including rock bottom prices on bank owned homes, foreclosures, and short-sales. Don’t miss this historic opportunity!

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YourRoadMapToHome.com is your resource for McDonald Group Realtors, Portland’s premiere real estate agents. Find foreclosure/short-sell updates and Portland neighborhood info, as well as search properties easily!

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