Real Estate Blog

Welcome to the Portland Home Team website. Whether you are buying or selling a family home or investing in income producing property, we are your Portland real estate market experts.

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Real Estate Blog

One of the best perks of owning your own home is having the space and privacy of your own porch. It’s the ideal place to relax and spend time with family during the summer months. Here are some suggestions for getting your porch back in shape after the winter.

Cleaning and maintenance
Start by removing the dirt and debris that has probably accumulated on the deck throughout winter and spring. Then give it a good inspection—and replace boards and nails as necessary— before using a cleaning solution to give it a thorough cleaning.

Consider your seating options
What’s the main purpose of your porch? Is it for kicking back and relaxing? Hang a hammock and you’ll have the perfect place for an afternoon nap. More interested in entertaining? Invest in some

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SHOW ME THE MONEY!  On this week's episode of Phil and Bob Raise the Roof, we invite our very first special guest James Adair from the PDX Home Loan Team to tell us how to approach the lending process and what to look for in a lender. 

Check back in tomorrow for part 2, where we share outtakes from this episode on Phil and Bob Raise the Roof Podcast Episode 6.1: Lending Horror Stories. 

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Jon Bell wrote an interesting post in this past week's Portland Business Journal that highlight the underlying or root cause of the run-up in both home prices and rents.  

The average Portland home price is roughly 44% higher than the national average, and the average apartment rent is a whopping 150% higher than the national average. That's right sports-fans, by this metric, rents are 3 times more inflated than home prices. No wonder there has been so much recent discussion about rent-control, and new legislation designed to help tenants.

The recent landlord ordinance is in effect as long as Portland remains in it's current "Housing Emergency (declared in 2015 and extended, currently through Fall 2017). Jan Bell's April 7 article in the

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In a market as tight as the current Portland real estate market, it can be hard to find a home that’s just right for you. The average total market time for inner-Portland homes in February was a short 50 days according to the RMLS monthly area report, and even if you should find your dream home in time, you’ll likely be contending with competing offers. Instead of compromising on your needs or the price, building your own home can be an attractive option.

If you’ve not built from the ground up before, you might be flummoxed on where to start. Your builder will want to know your vision, your lender will want to see your architectural plans, your realtor will want to know your budget, which of course brings you back to the builder.

In a tight market, you may not be able to find and purchase the home of your dreams. So why not build it yourself?We think you’ll

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We've launched a podcast!

We'll be checking in weekly to let you know what's going on in the Portland Real Estate market. In this week's episode, Phil and Bob talk about which market trends do and don't affect mortgage rates, including the Federal Funds Rate, GDP, and inflation, and what this all means for your home buying timeline.

 

 

If you missed our first episode, you can find it on Soundcloud. Let us know what you think!

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The Federal Funds Rate & Fixed Mortgage Rates

The Federal Funds Rate sets the interest rate banks charge each other on overnight loans made to meet reserve requirements. The Federal Funds Rate also determines the Prime Rate, upon which many business and consumer loans are based. When the Federal Funds Rate is low, the Fed is attempting to promote economic growth. When it is high, the Fed is attempting to dampen inflation. Manipulating the Federal Funds Rate is one way the Federal Reserve manages its dual charter of fostering maximum employment and maintaining stable prices.

U.S. mortgage rates are not set by the Federal Reserve. There is no direct connection. Want proof? In November, 2008 the average thirty year mortgage rate was 5.70% higher than

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