Beaverton Is Attracting Commuters In Portland Housing Market Local REALTOR® David Somerville Says 02/15/2012
PORTLAND, Ore. - Portland REALTOR® David Somerville says the Beaverton suburb of Portland will continue to attract commuters in 2012 due to lifestyle and real estate values. With Beaverton homes for sale currently ranging from $130,000 to $4.5 million, there are plenty of choices available for would-be Beaverton residents, and all within less than fiftenn minutes of Downtown Portland. Somerville says the convenient access to Portland with Beaverton's location off of Highway 26 (Sunset Highway) is one of the features that appeals to so many buyers, but the wide variety of homes in every price range also helps. "The Portland real estate market broadly includes several outlying communities such as Beaverton, and commuters especially love it. It's less than 8 miles from the center of Portland, and you can buy a lot of house for the money in Beaverton." He says Beaverton real estate values are particularly plentiful in the $250,000 to $400,000 price range, with an abundance of bank owned homes on the market affecting inventory levels. "Buyers can currently get a lot for their money in Hillsboro. In the Portland MLS right now, I can find 2700 s.f. homes under $250,000." Somerville says there may never have been a better time to get into the market for Beaverton homes. "With the job market in Portland relatively stable and interest rates extremely low, it's hard to think of a better opportunity for first time home buyers or anyone wanting to buy a home to check out what's available." About David Somerville David Somerville is a full time REALTOR® with an extensive knowledge of the entire Portland Oregon metro area. His knowledge of local neighborhoods proves valuable to Portland real estate buyers and sellers alike, whether they are in the Downtown area, or suburbs such as Hillsboro, West Linn, Beaverton, Tigard, and Lake Oswego real estate. David Somerville 5 Centerpointe Dr. Suite 150 Lake Oswego, OR 97035 503-789-7633 http://www.maxwellsinclair.com dave@maxwellsinclair.com Add Comment Historically Low Interest Rates Means Portland Real Estate is More Affordable For First Time Buyers 02/06/2012
PORTLAND, Ore. – Continued easing from the Federal Reserve is driving historically low interest rates for Portland OR real estate buyers says local REALTOR® David Somerville. According to Somerville, the Fed's attempts to revitalize the economy with low interest rates should be seen as a gift for anyone wanting to buy a home right now, because low interest rates significantly lower the cost and risk of buying a home. "I know from experience that some buyers won't decide to purchase Portland real estate until interest rates start to rise again. By that time, prices are likely to have already started to rise as well." He says that means buyers who wait too long may get neither the lowest rates nor the lowest prices. "I've never seen the national average for interest rates this low at only 3.85%. Someone who buys a $200,000 home can have a mortgage payment of less than $1000. You can buy a lot for $200,000!" Somerville sees more first time homebuyers and investors entering the market for Portland homes for sale as a result of lower interest rates. "This is a great time to get into a new home, in my opinion. No matter what the Fed does in the future, I think we'll look back on this period as a great opportunity for buyers." About David Somerville David Somerville is a full time REALTOR® with an extensive knowledge of the entire Portland Oregon metro area. His knowledge of local neighborhoods proves valuable to Portland real estate buyers and sellers alike, whether they are in the Downtown area, or suburbs such as Lake Oswego real estate, Hillsboro real estate, West Linn, Beaverton, and Tigard. David Somerville 5 Centerpointe Dr. Suite 150 Lake Oswego, OR 97035 503-789-7633 http://www.maxwellsinclair.com dave@maxwellsinclair.com Oregon Agent David Somerville Says Study Indicates Now May Be Ideal Time to Buy Portland Real Estate 12/09/2011
PORTLAND, Ore. – Portland REALTOR® David Somerville says recent housing stats released by S&P and Case/Shiller indicate that continued lower real estate prices in most markets nationwide along with sub-4% interest rates may mean buyers are getting more unprecedented opportunities to buy low. The nationwide study showed housing prices eased slightly in September on a year over year basis, meaning buyers are able to get more home now for less money. Somerville says the benefit for Portland real estate buyers is compounded by the fact that interest rates on the 30 year fixed mortgage remain below 4%. "This is truly an amazing time in the market for buyers who can get past the doom and gloom headlines. I believe many homeowners won't see prices this low again in their lifetime." He says the market may not be good for everyone, though. "Speculative money has left the market in a big way, but that's mostly a good thing for those who intend to own their home for years. House flippers and other short term speculators could get hurt, but if you want to buy a home and live in it for a long time, this market is a godsend." Somerville says that in no other time in history have first time home buyers been able to get such low prices combined with low mortgage payments. "Because of the speculative housing excesses that led to a peak in Portland home prices around 2006 and 2007, the banks still have a notable amount of foreclosures on their books. While the media like to see the negatives in this, it's actually a good thing for the right kind of buyer, especially on luxury Portland real estate and waterfront properties." Asked what kind of buyer is the right kind of buyer, Somerville says "motivated ones." "There are a lot of potential buyers held back by doom and gloom headlines. Those who can see the silver lining beyond the headlines are a step ahead, in my opinion." About David Somerville As resident of Portland for two decades, an owner of several Portland area investment properties, and 10 years a REALTOR®, Dave Somerville understands Portland real estate from the inside out. He has the ability to see a property’s potential, beyond its current condition and gives the buyer a vision of how a house could fit into their dreams through minor cosmetic changes or remodels. Dave covers all Portland area towns and suburbs, including Beaverton real estate, Hillsboro real estate, Lake Oswego real estate, West Linn real estate, and The Pearl District. David Somerville 5 Centerpointe Dr. Suite 150 Lake Oswego, OR 97035 503-789-7633 http://www.maxwellsinclair.com Portland, OR - Portland REALTOR® David Somerville has published a list of Tips For Buyers To Close Fast on Bank Owned Portland Real Estate. He says that while many agents don't take the time to educate their clients, following a few simple guidelines leads to a much more satisfying buying experience. In a market that sees a lot of Portland real estate transactions needlessly falling out of escrow, Somerville says that it is possible to not only close on time, but early, if a few simple steps are taken in advance. "Number one on the list of ways to ensure a fast closing is to make an all cash offer. Of course, not everyone can do that, so I've put together some tips that many buyers will be able to take advantage of to expedite their closing." The tips include: 1. Make an all cash offer 2. Sell your current home before making an offer on another one 3. Get preapproved with a mortgage broker, not just prequalified 4. If possible, get your loan from the bank that is selling the property 5. Tighten inspection timelines to 3 business days instead of the standard 10 6. Have mortgage broker order appraisal 2 business days after offer acceptance 7. Have certified funds to escrow prior to signing closing documents 8. Don't make any last minute credit purchases For more detailed information on these tips, go to http://bit.ly/ojjgqb. For Portland real estate listings including The Pearl District and other Portland neighborhoods, go to http://www.maxwellsinclair.com. For more information, please contact: David Somerville Prudential Northwest Properties 5 Centerpointe Dr. Suite 150 Lake Oswego, OR 97035 503-789-7633 http://www.maxwellsinclair.com Portland, Oregon - Portland Oregon real estate agent David Somerville says young families are being drawn to Downtown Portland's condos and lofts by low prices, good neighborhoods, and close proximity to jobs. Somerville, who has been selling Portland real estate for over ten years, says the trend of younger buyers coming into the downtown is welcomed by Portland employers and property owners alike, and has helped to revitalize downtown neighborhoods. "The current housing market is providing some great opportunities for younger buyers to get into Portland condos and lofts at pretty amazing prices." He says there are certain neighborhoods, like the Pearl District, that are particularly sought after by younger home buyers. "The Pearl District has a lot of things going for it as a place to live downtown. There are plenty of restaurants, nearby employers, parks, grocery stores, and other shopping, all within walking or biking distance. Walkscore.com rates the area near 100." While Somerville encourages first time home buyers to get preapproved for a loan before setting out to visit properties, they can search for available Portland homes for free on www.maxwellsinclair.com. For more information, contact: David Somerville Portland Real Estate 5 Centerpointe Dr. Suite 150 Lake Oswego, OR 97035 503-789-7633 http://www.maxwellsinclair.com Foreclosure Inventory Driving Sales in Portland Real Estate Market According to Local Realtor 07/14/2011
Portland, Oregon – The high inventory of foreclosures in the Portland market, including pre-foreclosure short sales and bank owned homes, is driving prices and sales according to local REALTOR David Somerville. "Prices are at historic lows right now, and the large inventory of bank owned Portland real estate seems to be the biggest factor." Somerville, who has been listing Portland homes for sale for 10+ years, says that sellers have a lot of competition from banks whose primary goal is to sell their inventory fast. "In analyzing the real estate market, many times people make the mistake of focusing only on the demand for homes, not the supply. What they're missing in this case is a fantastic buying opportunity due to oversupply." "The time to have bought a Portland home is obviously before the prices and demand return to boom levels. In my opinion, that means buying from the banks right now." According to Somerville, supply will dwindle and buyers will become financially ready to buy a home again. He says that with each passing year of the housing market instability, the inventory of Portland foreclosures will have less impact on the overall market because banks will eventually close out their bad loans. "I believe that when the foreclosure inventory is bought up, we're going to see significant price increases again." He says that in the meantime, investing in this market may turn out to be the best financial decision some people make in their entire lifetime. David Somerville 5 Centerpointe Dr. Suite 150 Lake Oswego, OR 97035 503-789-7633 http://www.maxwellsinclair.com Portland Real Estate Agent Sees Buying Opportunities For First Time Home Buyers and Trade Up Buyers 06/17/2011
Portland, Oregon – Portland area real estate expert David Somerville sees buying opportunities in the current housing market that can be used by first time home buyers and trade-up buyers alike. Somerville says that the dual combination of historically low prices and interest rates provides a once-in-a-lifetime opportunity for many buyers to lock in lower house payments on Portland real estate than ever before for a much nicer home than they ever thought possible. "Many people just don't realize how ideal the market is right now. There is an abundance of inventory which tends to bring prices down, of course, but it also provides a better selection of homes to choose from." He says bank owned inventory of Portland homes in particular is high, and that has served to make prices even more affordable for first time buyers. It has also made it easier for buyers needing to trade up as their family grows. According to Somerville, to get the best deals on bank owned listings, it's best to be pre-approved so buyers can act quickly to make an offer on undervalued properties. "Since banks usually underprice their properties, they often get an offer quickly. The buyers that come prepared to make a serious offer generally get the best deals on the best homes, and can usually close escrow in as little as three weeks." He says that mortgage rates, which are tied closely to the bond market, are expected by many experts to resume a long uptrend soon, leaving this historic buying opportunity behind. "I'd definitely recommend that anyone in a position to buy right now take a serious look at the Portland real estate market." David Somerville 5 Centerpointe Dr. Suite 150 Lake Oswego, OR 97035 503-789-7633 http://www.maxwellsinclair.com/ Mt. Hood, OR – Blythe Creek, a longtime resident of Mt. Hood and local real estate agent, has launched a new website with photos of the mountain along with state of the art real estate search tools. According to Creek, the website is the culmination of years of experience representing buyers and sellers in real estate transactions on Mount Hood. "For buyers interested in Mt. Hood real estate, our website helps provide useful information about the different towns and neighborhoods that make up this wonderful community. We provide photos, history, and of course, real estate listings so they can find their dream home." She says the community is made up of both year-round and seasonal residents. Some live and work in Portland, but have found the perfectMt. Hood cabin for their family getaways in the summer, or ski trips in the winter. "Many of our seasonal residents who were introduced to the area when they bought a Mt. Hood vacation home, eventually decided to live here full-time. It is a wonderful place to live." Creek says her new website at http://www.mthoodrealestate.net provides photos and detailed real estate search tools to help prospective residents find the perfect property. "Whether a buyer is looking for a creek-front cabin or acreage for their horses, MtHoodRealEstate.net will help them find it." About Blythe Creek As a long time resident of Mt. Hood, Blythe Creek knows not only the people, towns, and neighborhoods, but the hiking trails and many breathtaking views available to Mt. Hood residents. She will be your guide to finding your dream home on the mountain, whether you are looking for a seasonal vacation home or a year-round residence. Blythe Creek Merit Properties, Inc. P.O. Box 380 Welches, OR 97067 503-706-7101 http://www.mthoodrealestate.net Oregon Real Estate Agent Releases Top Five Portland Metro Areas in Home Appreciation Report 03/23/2010
Portland, Oregon - Portland Oregon real estate agent David Somerville, a REALTOR® who is an expert in area home values, has released the top five Portland metro areas in his Portland Home Appreciation Report to help those following the market understand trends in market activity. Somerville says the report, which is designed to be helpful to Portland real estate professionals but accessible to the average homebuyer, gives a broad overview of market health broken down by regions. "I cover the twelve major Portland metro areas, including NW Portland and Washington County, Milwaukie and Clackamas, Lake Oswego and West Linn, NE Portland, Tigard and Wilsonville, Oregon City and Canby, North Portland, Beaverton and Aloha, West Portland, Hillsboro and Forest Grove, SE Portland." He says that the report is a very objective presentation of market information designed to help potential Portland home buyers make informed decisions about where and when to buy real estate in Portland neighborhoods. "I just look at the facts of the market and report to my readers what the trends look like for the price of Portland real estate. Many home buyers have come to appreciate the actionable information in these reports." Top Five Metro Portland Areas
The full report can be viewed at http://www.maxwellsinclair.com/blog/tag/home-appreciation-report/ Portland Real Estate Agent Makes iPhone Application Available to Search for Portland Homes 03/09/2010
Portland, Oregon - David Somerville, a Portland, Oregon area REALTOR® covering real estate in Portland, Lake Oswego, West Linn, Beaverton, Hillsboro, and Tigard, has launched an iPhone application to make it more convenient for buyers to search for Portland homes from their mobile phones. The app, which is available for download in iTunes or from Somerville's website, http://www.maxwellsinclair.com, is offered free of charge to home buyers to search Portland's real estate listings by entering activation code 2370. He says users just need an iPhone and an iTunes account, and they can be browsing -- and bookmarking -- available real estate listings fast. Somerville says that searching for Portland homes for sale is made significantly easier with this new technology. "The iPhone is naturally a perfect tool to search for homes online, because the browsing experience on the small screen is so near the desktop experience. The ability to take it with you when you're out driving around Portland neighborhoods makes it very useful." The application makes this browsing experience even easier, because it provides an easy to use tool to help buyers drill down with detailed search criteria to find the perfect property. With half of all mobile web browsing performed on the iPhone, he says it made sense to offer this application first to reach the most home buyers. But he said that plans are underway to offer more mobile real estate search applications to search for Portland homes on other mobile operating systems like Android and Blackberry. "We're very excited about this new tool to offer our clients. Purchasing a home can be a difficult process without the right tools and experienced, friendly people to make it happen. This is just one more way we've tried to use technology to make the home buying process a little easier -- and more enjoyable -- for our clients." |   AuthorArchivesDecember 2011 CategoriesAll Real Estate SitesIdaho Real Estate
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