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Tips for Buying in Portland's White-Hot Market

Photo courtesy Travel Portland

The demand for housing in the Portland area is strong due to solid job growth and people who want to live in Portland. In a competitive real estate market, a local top real estate expert offers this advice:

1. Move quickly!
In a hot market, you can’t dawdle. When you find a house you like, go see it that day and if it’s the house for you; make the offer. The longer it takes to make the offer, the more likely it is that someone else will find it and make an offer.

2. Be prepared to pay over list price
You may not have to pay over list, but be prepared to. Have your agent do some research and find out the ratio of list to sales price for that neighborhood. That way you’ll have an idea of what homes are going for in the area, and you won’t have to lose out on several homes before getting the one you want.

3. Don’t put the cart before the house
Do all your homework before actually going to look at houses. Meet with your agent and get educated on the process and the area you’re looking in. Meet with a lender and get fully pre-approved. There is nothing more heartbreaking than finding your “dream house” first, and then starting these things. By the time you’re ready to make the offer, the house is already gone.

Tips provided by Rick Sadle, Principal Broker with The Sadle Home Selling Team. Rick is licensed in Oregon and Washington. For more information and resources, please visit www.PortlandVancouverHomeSearch.com

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