As home prices continue to rise due to a lack of inventory, many people are concerned about housing affordability. Just a few years ago, foreclosed properties were selling at 50 cents on the dollar and the glut of distressed houses pulled everyone's home value down. It was difficult to sell at any price. It was also difficult to buy -- lending guidelines were super-strict and buyer confidence was low. Once the market absorbed the distressed properties, home values accelerated rapidly and we had multiple years of double-digit appreciation. Today, inventory … Continue reading...

Here’s a question we get all the time in the real estate business. What’s the difference between average sale price and median sale price for a Portland Metro neighborhood? Good question—because it’s like comparing apples to oranges. Each one gives a very different taste of the market. Average Sale Price Let’s start with Average Sale Price. It’s determined largely by the numbers on the extreme ends of the price spectrum. To give a non-real estate example, if we have 5 people with ages of 1, 2, 3, 4 and 55, and we want a single number that represents the … Continue reading...

Relocating to Portland, Oregon? SkyBlue Portland Real Estate Group is here to help. 1. ENLIST AN ACCREDITED BUYER'S REPRESENTATIVE (ABR®). Working with a stellar agent is the most critical aspect of a successful home purchase. Key qualities to look for are experience, in-depth local market knowledge, and solid communication and negotiation skills. Our Lead Buyers Agent, Rachel Bradley, earned the real estate broker's ABR® designation and has in-depth training in representing buyers. Years of experience, commitment to her clients, love for Portland neighborhoods, and … Continue reading...