List your house EARLY in the year to decrease competition!

It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year. The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2016. Here is a graphic showing the results: The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,820,000.

That number spiked to 2,140,000 by May!

http://www.keepingcurrentmatters.com/wp-content/uploads/2017/01/Calendar-2016-Listing-Dates-KCM.jpg

What does this mean to you?

With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.

Bottom Line

It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home as soon as possible.  We would love to come and take a walk through with you to help with items to spiff it up for sale.  Call us any time!

 

 

Posted on January 26, 2017 at 4:10 pm
Cary Perkins | Category: Best Time to Sell Your House, Current Portland Real Estate Market Information, Moving, Portland Oregon Real Estate, Portland Oregon Realtors, Selling Your home | Tagged , , ,

A 7-Day Itinerary for the PDX Newbie

 

This article by Wannabe Portlandy (http://www.wannabeportlandy.com), offers some great suggestions for showing your friends & family around our fabulous city of Portland.

 

Downtown Portland – Broadway 

Every year, I get requests from friends and followers to create Portland itineraries for them. This is something that I enjoy doing and I go the extra mile of even making detailed presentations for friends. Each traveler is different and so I make it a point to tailor fit the itineraries that I make for each individual personality and preference. 

I recently crafted a personalized 7-Day itinerary for three of my friends and three of their kids. I am sharing the itinerary here because it might help you plan your trip to Portland too. 

But first, a little bit of perspective on why I made this itinerary the way it is. First of all, my friends are world-travelers. They have been around Asia, Europe, and North America. So I wanted to suggest places that are more unique to PDX. For instance, I intentionally did not suggest for them to eat in any Asian restaurants even if this is popular in Portland. Most of my foodie suggestions are focused on good American food. Secondly, my friends were traveling with kids that are 5-years old and below. So most of the places that I have suggested are kid-friendly and places that won't require waiting in line for more than an hour. 

So here it goes!

Day 1 (SUNDAY) – Welcome to Portland! 
 

Screen Door 

10:30AM – I immediately had my friends go to Olympia Provisions for brunch. Don't forget to order the Steak Eggs Benedict here. Advanced reservations is a must! 

2:00PM – After brunch, I had my friends take the Best of Portland Walking Tour. This is a great crash course on what makes Portland, Portland. This tour will take you around downtown Portland's key highlights for 2 hours. Advanced reservations is a must! 

5:30PM – Screen Door is a PDX foodie hall-of-famer so go here for dinner and make sure to order the buttermilk fried chicken. Tip: Screendoor opens at 5:30PM for dinner. Try to arrive at least 15 minutes earlier or else you'll end up waiting in line for a much longer time. 

Day 2 (MONDAY) – Foodie Day Part 1 

 

Guero 

9:00AM – Have breakfast at Tasty 'n Sons. Make sure to order the Potato Doughut, Meatloaf Cheddar & Biscuits, Auntie Paula's French Toast, and Salmon Hash. Tip: This is a popular restaurant so try to go at least 15  minutes in advanced to line-up. Otherwise, you'll end up waiting for an hour. 

10:00AM – Tasty 'n Sons is in a great quintessential Portland neighborhood called N. Williams so just walk around the area and enjoy the different stores. 

11:00AM – Today is an immersion into the amazing PDX food scene so be ready to taste a lot. Have one of the best ice creams you'll ever taste in your life at Salt & Straw. 

12:00NN – Portland is all about the food trucks. Head on over to Guero and order the No. 3 Torta. 

2:00PM – A second snack is in order. Head on over to Pip's for some seriously amazing doughnuts. Don't forget to get the Bacon & Maple Doughnut and Matcha Tea. Tip: Pip's closes at 4PM so make sure to go before then. 

4:00PM – You might  be having a bit of a food coma at this point so walk it off and head on over to the Tilikum Bridge to do some brisk walking. 

7:00PM – Portland is NOT about snooty fine dining. Instead, PDX is into laid back casual dining that is all about the good food. Have dinner at Le Pigeon and make sure to order the burger–it's consistently ranked as one of the best in the city. Reservation is a must! 

Day 3 (TUESDAY) – The Best of Both Worlds 

 

Multnomah Falls 

10:00AM – The best part about Portland is how close it is to enjoy some natural wonders. Head on over to the Multnomah Falls and enjoy the scenery. 

12:00NN – Have lunch at the Timberline Lodge and don't forget to order their 5-time awarded Clam Chowder. And after lunch, enjoy Mt. Hood  for all of its majestic glory. 

4:00PM – In Portland, you can be outside the city and enjoying nature one minute, then having fun downtown the next. Go to Union Way in front of Ace Hotel to do some window shopping. 

6:00PM – Have dinner at Hot Lips Pizza at the Eco Trust Building. Note: Other blogs and websites will recommend other pizza places. But I specifically took my friends here because Hot Lips Pizza's concept is much more unique to Portland given its focus on Fresh, Local, Organic, Seasonal, and Sustainable ever-changing menus. 

Day 4 (WEDNESDAY) – Foodie Day Part 2 

 

The Waffle Window

8:30AM – 10:00AM – Portland is the #1 food city in America so naturally, this trip needs more than one day of pigging out. For breakfast, get waffles at The Waffle Window and a sandwich from Fried Egg I'm in Love. 

11:00AM – Get some coffee from Stumptown and donuts from Blue Star 

 

Stumptown

1:00PM – Go downtown and hit up the Food Pods 

3:00PM – A second cup of coffee is in order. Head on over to Coava. Tip: Coava is near two buildings called Rejuvenationand Grand Marketplace. Walk off the carbs and do some window shopping here. 

4:00PM – Have dinner & drinks at Multomah Whiskey Library. NOTE: Leave the kids at one of PDX's awesome day care areas such as PDX Play Date. 

Day 5 (THURSDAY) – Wine & Beer Day

 

Rogue Farms 

9:00AM – Today is all about wine and beer tasting. But first, have breakfast at Gravy and don't forget to order the Corned Beef Hash.

11:00AM – Do the Wine Tasting at Stoller Winery. NOTE: Not everyone can spend the day hitting up several wineries. And if you could only go to one, I recommend Stoller Winery because their concept is unique to Oregon. 

12:00NN – Have lunch at Red Hill's Market

3:00PM – Visit Rogue Farms and do some beer tasting 

6:00PM – Have dinner at Burgerville 

Day 6 (FRIDAY) – Seasonal Activities 

 

Wooden Shoe Tulip Farm

9:00AM – Portland has four seasons so the places that you can see and do are dependent on which month of the year you are planning to visit. Since my friends went during Spring, I had them go to the Wooden Shoe Tulip Festival. 

12:00NN – Head back to the city and have lunch at Old Salt Marketplace 

3:00PM – Drop by Powell's Bookstore to buy some souvenir and just get lost in the thousands of books on display

5:00PM – It's almost time to say good-bye to the city so head on over to Pittock Mansion and go straight to the garden area to enjoy an amazing city view 

7:00PM – Our friends requested to have dinner at Hot Lips Pizza (that's how much they loved that place). But go and try another dinner place such as Ned Ludd. 

Day 7 (SATURDAY) – The trip is over so cap it off with a trip to the Portland Saturday Market 

 

Portland Saturday Market

 

Posted on September 7, 2016 at 7:29 pm
Cary Perkins | Category: cary perkins, Current Portland Real Estate Market Information, Moving, Moving to Portland, OR, Pearl District, Portland Oregon, Portland Oregon Restaurants, Restaurants, Things to do in Portland OR | Tagged , , , , , ,

Spotlight on 97229 zip code

 

 

Statistics for the 97229 Zip Code through February 15, 2016

 

  • Properties for sale: 108
  • New Listings:  110
  • Sold Properties: 89
  • Pending:  97
  • Months of Inventory based on closed sales:112
  • Months of Inventory based on pending sales:  1.1
  • Absorption Rate (Closed Sales) %:  82.4
  • Absorption Rate (Pending Sales) %: 89.8
  • Average Active Listing Price:  $818,000
  • Average Sold Price:  $479,000
  • Average Price/Square Foot (Sold Listings): $211
  • Sold Price/List Price Diffential:  100%
  • Sold Price / Original List Price Diffential:  98%
  • Days on Market:  39
  • Medial Sale Price $475,000

New homes for sale are down 29% current -vs- same quarter 1 year ago and up 11.2% in the last month

Sold homes are up 36% current -vs- same quarter 1 year ago and down 25.7% in the last month

Pending sales are down .7% current -vs- same quarter 1 year ago, and up 4.8% in the last month

 

It's a great time to sell in 97229!

 

Cary Perkins,
Windermere Top Producer
Fun With Real Estate
Current Portland Oregon Real Estate Information,
Highlights of Portland Oregon, House Ideas
Portland Oregon Homes

by Cary Perkins

Portland Real Estate, Portland Oregon Top Producer, Windermere Top Producer, Portland Realtor, Portland Homes for Sale

 

Windermere Top Producer Cary

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Posted on March 14, 2016 at 11:14 pm
Cary Perkins | Category: Current Portland Real Estate Market Information, Moving, Portland Oregon Real Estate, Portland Oregon Realtors, Portland Real Estate Data, Portland Real Estate Statistics | Tagged , , , , , ,

How is my home sale taxed? What about capital gains?

 

 

When it's time to sell your home, I start by preparing a seller's "net sheet," which outlines the sale price less your outstanding mortgage, pro-rated property taxes, etc.  Often people are worried about how much tax they're going to have to pay on that big (hopefully) number on the bottom line that says "Net to Seller."

 Most times the answer is ZERO taxes!  When you sell your principal residence and make a profit, you get to exclude $250,000 of that profit from your taxable income. And that's just the exclusion for single owners. Married couples can exclude up to $500,000 (if both spouses each meet the ownership and use tests below). So, depending on how much of a profit you make on the sale, you and your partner could potentially have no capital gains tax bill at all.

Here's the fine print:  in order to claim the maximum exclusion, you have to pass the IRS ownership and use tests. The test questions are:

  • Have you owned the house for two years?
  • Have you lived in the house as your principal residence for two out of the last five years, ending on the date of the sale?

There are a few exceptions to these rules–for example, if you had to move before owning the home for two years because of a job change or due to "unforeseen circumstance," such as a divorce or natural disaster. In these situations the IRS may allow you to prorate the exclusion.

And here's more fine print that is ususally helpful:   the two years residency doesn't have to be consecutive–you just have to have lived in your home for a total of 24 months out of the five years prior to the sale.

How to Calculate your cost basis

To determine capital gains on the sale of your home, you subtract your 'cost basis' from the selling price. Your cost basis is not just the purchase price. It also includes some settlement fees, closing costs and commissions paid with the purchase and the sale.  Add to this the cost of significant capital improvements (not repairs) you've made  for renovations, additions, roofing, landscaping, and other upgrades. All of these improvements increase your cost basis, and will lower your potential tax liability. (Another good reason to keep records of all your home improvements)

You can also reduce your tax basis (and owe more taxes) for a few reasons –  if you have a home office and have claimed depreciation over time, you now have to subtract those deductions from your cost basis. Or any tax credits for energy-related improvements have to be subtracted as well.  

Estimate sale price and capital gains

Now estimate your sale price and subtract your cost basis. If you bought your house for $350,000, did  $50,000 worth of improvements and had other closing fees and costs of $15,000, your cost basis is $415,000. Now let's say you expect to sell the house for $850,000. Your potential capital gain would be $435,000.

Factor in exclusion

In the above example, if you and your married partner met the ownership and use tests, you could exclude the entire gain from your taxable income. You wouldn't even have to report the sale on your tax return. However,if your capital gain turned out to be $525,000, you'd have to report the sale and pay long-term capital gains on $25,000.

As always, I recommend you speak with your accountant for the rules that apply to your personal tax situation.  But if you want to talk about selling your home, please call.

 

 

Click here for the full article.

 

 

Cary Perkins,
Windermere Top Producer
Fun With Real Estate
Current Portland Oregon Real Estate Information,
Highlights of Portland Oregon, House Ideas
Portland Oregon Homes

by Cary Perkins

Portland Real Estate, Portland Oregon Top Producer, Windermere Top Producer, Portland Realtor, Portland Homes for Sale

 

Windermere Top Producer Cary Perkin

Posted on July 8, 2015 at 9:29 pm
Cary Perkins | Category: Moving, Portland Oregon Real Estate, Portland Real Estate Data, Selling Your home | Tagged , , , , ,

First Time Homebuyers – Spring 2014 Market Information

 

 

The housing market is still far from normal. On a positive note, the pipeline of foreclosure inventory has shrunk, new delinquencies have declined, and home prices have surged. However, we have not settled into a stable supply and demand equilibrium.

There is still a historically low share of first-time homebuyers, currently trending at 27% of sales based on the prior three months, as compared to the normal share of about a third of buyers.

 

 

First-time buyers (% of existing home sales) 

 

If you're waiting to make your first move, please consider contacting a repuatable lender right away.  (I'm happy to share the contact information for some of Portland's best lenders)  It's a very detailed process, but I'm happy to help walk you through it.  Once you've been approved for a mortgage, we can start looking.

 

With thanks for the report from the Merrill Lynch housing research department, and Bill Denton, Merrill Lynch Financial Advisor.   If you would like to speak with a wealth manager, please call me for a recommendation and more information.

 

 

 

 

Portland Oregon Real Estate Information, House Ideas, Portland Oregon Highlights.
Caryperkins.com…   Windermere Top Producer….Fun With Real Estate

by Cary Perkins

Portland Real Estate, Portland Oregon Top Producer, Windermere Top Producer, Portland Realtor, Portland Homes for Sale

Posted on March 20, 2014 at 9:06 pm
Cary Perkins | Category: Current Portland Real Estate Market Information, Moving, Portland Oregon Real Estate, Portland Real Estate Statistics | Tagged , , ,

Should I take my house off the market over the holidays?

Vermont-Autumn

 

This question comes up every year around this time.  Things are slowing down a bit, you're thinking about family and celebrations, and yet you want to get your house sold.

Many sellers feel that the spring is the best time to place their home on the market as buyer demand increases at that time of year. However, the fall and winter have their own advantages. Here are five reasons to sell now.

Only Serious Buyers Are Out

At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere 'lookers'. The lookers are at the mall or shopping on NW 23rd!

There Is Far Less Competition

Housing supply always shrinks dramatically at this time of year. The choices for buyers will be limited. Don't wait until the spring when all the other potential sellers in your market will put their homes up for sale.

The Process Will Be Quicker

One of the biggest challenges of the 2013 housing market has been the length of time it takes from contract to closing. Banks have been inundated with both purchase and refinancing loan requests. Both of these will slow in the winter cutting timelines and the frustration these delays cause both buyers and sellers.

There Will Never Be a Better Time to Move-Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 25% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with historically low interest rates right now. There is no guarantee rates will remain at these levels in years to come.

It's Time to Move On with Your Life

Look at the reason you decided to sell in the first place and decide whether it is worth waiting.  Is money more important than having the freedom to go on with your life the way you planned?  Will taking your house off the market now make this go any easier in the spring?

You already know the answers to the questions we just asked. You have the power to take back control of the situation by pricing your home to guarantee it sells before the end of the year .

 

Portland Oregon Real Estate Information, House Ideas, Portland Oregon Highlights.
Caryperkins.com…  A Windermere Top Producer….Fun With Real Estate

 

by Cary Perkins

Posted on November 19, 2013 at 4:47 pm
Cary Perkins | Category: Current Portland Real Estate Market Information, Moving, Portland Oregon Real Estate, Selling your home during the holidays | Tagged , , , ,

Q & A: What if I have a stupid question about Real Estate?

 

 

My clients will sometimes say, "I've got a stupid question for you…. what does <insert odd real estate term> mean?

 

Of course I always respond that there is no stupid question in this process.  This is a big deal, buying and selling a house, and one should never feel that they don't full understand every little bit of what is going on.  That's why you work with a Realtor who you trust. 

Still, it's nice to have a reference for all those terms that come up during your transaction. 
Below is a link to the Federal Trade Commission's Real Estate marketplace glossary. 

 

 
The Federal Trade Commission, the agency that promotes competition
 
and protects consumers, has prepared this glossary to help you
 
better understand the terms commonly used in the real estate
 
and mortgage marketplace.    You'll find it here. 
 
 
 
 
Portland Oregon Real Estate Information,
House Ideas,
Portland Oregon Highlights.
Caryperkins.com
 

 

by Cary Perkins

Posted on April 4, 2013 at 7:44 pm
Cary Perkins | Category: Moving, Moving to Portland, Selling Your home | Tagged , , , , ,

Time to get moving.

 

 

 

 

 

 

Time to get moving. 

 

Click link for more info!

 

 

Portland Oregon Real Estate Information,
House Ideas,
Portland Oregon Highlights.
Caryperkins.com
 
 
 
 
 
 
Posted on January 12, 2013 at 10:17 pm
Cary Perkins | Category: Current Portland Real Estate Market Information, Moving, Portland Oregon Real Estate, Portland Real Estate Statistics, Selling Your home | Tagged , ,

10 Things to love about Portland OR

The second season of Portlandia, a critically-acclaimed show, if you’ve never heard of it, on IFC that lovingly lampoons life in one of the country’s most unique cities, recently wrapped up its season. But you want to know what’s even more fun than watching Fred Armisen make jokes about Portland, Oregon on your television? Tuning into the actual city itself!

Should you need a little push, here are 10 compelling reasons to book a flight, like, now (speaking of which, here’s a list of airfares to PDX).

#1 It’s exactly what you think.
Funny hats, food trucks, obsessive baristas, urban gardening, bike lovers: Portland is practically a laboratory of all that’s hip and cool in North America right now. Soak up the vibe with a visit to the city’s legendary Saturday Market, which just launched its 36th season. The event — which actually runs both Saturdays and Sundays, in the city’s historic Chinatown area — features tons of local artisans, as well as plenty to eat (portlandsaturdaymarket.com).

#2 The city has an amazing arboretum.
Any city can do parks, but how many have gigantic arboretums, brimming with gorgeous flora from around the world, plonked directly on top of the downtown area? Just a short hike up from the bustle of the city center, the cool, green forests and manicured gardens of the Hoyt Arboretum remain one of Portland’s finest assets (hoytarboretum.org).

#3 Emerging artists.
Portland is known for inspiring its share of creativity, and schools like the Oregon College of Art — with a handsome campus among the trees on the edge of town — do their part to help channel all that inspiration. See tomorrow’s big names today at the school’s ever-changing Centrum Gallery, which rotates monthly with work from current students, as well as alumni and faculty. The Retail Craft Gallery on campus sells the work of more than 100 artists, all affiliated with the college (ocac.edu). A short drive down Burnside, back in the heart of town, the Pacific Northwest College of Art is a partner in the cutting-edge Museum of Contemporary Craft, which features a free First Thursday (of every month) event, where the museum stays open into the evening hours (mocc.pnca.edu).

#4 Distillery Row.
We all know there’s a ton of really good beer around here. Has been for ages. But even cooler is the rise of the city’s Distillery Row, a collection of — you guessed it — distilleries located within walking distance of one another, just east of the Willamette River. Together, they are working to ensure that nobody ever needs to drink out-of-town whiskey — or gin, or vodka or rum — again. Each stop on the Row keeps weekend drop-in tasting hours; learn more at distilleryrowpdx.com.

#5 Local brews.
Seriously. Coming to Portland and not drinking the local beer is kind of like going to New York and refusing to eat pizza. From Deschutes Brewery’s heady black beers to Laurelwood’s Organic Green Mammoth IPA, you really can’t go wrong; make sure to also sample the more obscure stuff, such as Upright’s complex sour beers or Cascade Brewing’s barrel-aged Bourbonic Plague, with an ABV of — mind how you go — 12 percent. To brush up on the scene, check out portlandbeer.org.

#6 Gorge-ous scenery.
Remember how Seattle used to be the cool town and Portland was that little thing you sort of just breezed through? Well, Portland’s the one everyone’s paying attention to now, and you can still breeze through it. There’s sprawl here, but not much. From the middle of town to the beginning of the protected Columbia River Gorge National Scenic Area can take as little as 20 minutes. Once in, get off the freeway and slow down. There are dozens of waterfalls, more than 100 great hikes of all difficulty levels and of course, that incredible scenery. Map out your route at gorgefriends.org.

#7 A coffee maven’s haven.
Portland’s coffee is some of the country’s best. How good? It’s best-known roaster, Stumptown, went on not only to become an immense hit in New York City, but it’s also getting its hooks into Seattle, too. They’re still the big guy around here, but they’re also just a start. Other roasters to know include Coapa, with its chic café in the Industrial District, Courier Coffee on SW Oak Street and Exacto Coffee, which is served at the cool GrindHouse Coffee in up-and-coming corner of North Portland. (Which you can refer to as NoPo, if you like.) If you’re in a downtown hotel, your best bet is Sterling Coffee’s simple but perfect Coffeehouse Northwest up on Burnside. It’s been around a few years now, but it’s still one of the most perfect venues in town. Learn more about what’s brewing locally at caffeinatedpdx.com.

#8 Culinary treats.
From one of the best bacon-egg-and-cheese-on-a-roll breakfasts you’ll ever eat in your life (at Bunk Sandwiches) to epic meat dinners at Laurelhurst Market, a butcher shop and restaurant, to a proper night out at Le Pigeon to spicy wings and cool salads from hipster Thai Pok Pok to crazy bad-for-you breakfasts at Pine State Biscuits to those food carts mentioned previously that serve up every kind of food you can imagine, all over town, to incredibly fresh vegetables and locally (and sensibly) farmed meats to great Northwest fish and oysters and you name it, Portland is a town for people who really, really like to eat. Don’t come expecting a ton of traditionally fine dining but do come hungry. Really, really hungry. Maybe also bring stretch pants.

#9 And save room for dessert.
One of the most famous foodstuffs in town for a few years running now has been a now-oft-copied bacon maple contraption at Voodoo Donuts, but that’s just the start of the fun. Here you have everything from “Cupcake Wars” champ Kyra Bussanich making magic at Lake Oswego’s Crave Bake Shop to James Beard Award winner Kim Boyce, making waves at her new Sandy Boulevard bakery, called — rather simply — Bakeshop. But there’s nothing simple about the pastry; Boyce has years of experience in top kitchens in Los Angeles. From rhubarb hand pies to fig buckwheat scones, you have to try it all.

#10 A peddler’s paradise.
Eventually, even the most intrepid eaters and drinkers will be crying “uncle.” Now you know why this town’s as into outdoor activity as it is into stuffing awesome things down its gullet. It’s called survival. And not weighing 400 pounds. If you’re having trouble getting motivated to get up and get going, join a group bike tour — anywhere from an easy spin around downtown or a day out in the Gorge or up in wine country — through Pedal Bike Tours (pedalbiketours.com). If you prefer an upper-body workout, the Portland River Company offers cool guided tours — and instruction, too — out on the Willamette River (portlandrivercompany.com).

And I’d like to add #11.

It’s a fabulous place to call home.  If you’d like to see a few houses while you’re visiting, please let me know!  Portland OR Real Estate is at bargain prices, and with today’s interest rates, amazingly affordable. 

Thanks to George Hobica, Syndicated travel journalist and founder of Airfarewatchdog.com for this terrific article.  Be sure to subscribe to airfarewatchdog.com for best deals on your favorite city pairs – a surefire way to get the best price on airfare for your coming trips.  For a linkback to the original article on Huffington Post, click here.

Posted on April 10, 2012 at 2:34 pm
Cary Perkins | Category: cary perkins, Current Portland Real Estate Market Information, Moving, Moving to Portland, OR, Portland Oregon | Tagged , , , ,

Rent or Buy?

Each quarter, Fannie Mae releases their National Housing Survey. They survey the American public on a multitude of questions concerning today’s housing market. We like to pull out some of the findings we deem most interesting each time it is released. Here they are for the most recent report:

84% of the general population believes that owning a home makes more sense than renting.

The Most Important Reasons to Buy a Home

When we talk about homeownership today, it seems that the financial aspects always jump to the front of the discussion. However, the study shows that the four major reasons a person buys a home have nothing to do with money. The top four reasons, in order, are:

  1. It means having a good place to raise children and provide them with a good education
  2. You have a physical structure where you and your family feel safe
  3. It allows you to have more space for your family
  4. It gives you control of what you do with your living space (renovations and updates)

The Home as an Investment

Though most people purchase a home for non-financial reasons, everyone realizes there is a money component to homeownership. Here is what they said on this issue:

  • 63% of the general population believes that homeownership is a ‘safe’ investment.
  • 53% believe that homeownership has more potential as an investment than any other traditional asset class.

Rent vs. Buy

We are always interested in the difference people see in renting vs. owning.

  • 64% of renters have aspirations to someday own their own home
  • 70% of renters think that owning is superior to renting

Bottom Line

Our belief in the value of homeownership grows each time this survey is released.

Posted on April 4, 2012 at 7:12 pm
Cary Perkins | Category: Current Portland Real Estate Market Information, Moving, Moving to Portland, Portland Real Estate Data | Tagged , , , , , , , , , , , , , , , , , ,