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The Rob Levy Team
One of Portland's Top Realtors Since 1988
Portland Oregon Real Estate Update August, 2020
In this months video I talk about where the average market time is for Portland homes, and even though we are at a historical low why its also a really good time to buy a home in comparison to recent years. I also show an image that has all 50 states and what year buying a home now compares to. Check it out, you will be blown away by some of the southern and Midwest states.
A $300,000 Mortgage By Decade
I cant look at this chart on the left enough times! Take a look at what a $300,000 mortgage will cost you per decade. Right now with rates even lower than the 2.96% on the chart your payment would be less than 1/2 of what it would have been for the same $300,000 mortgage in the 1990s and substantially below any other decade in the last 50 years. Now is a time you should be refinancing into a 15 or 20 year mortgage and keeping your payments the same. Contact me for a list of reputable lenders who can help you figure out whats best for your personal needs given the amount of loan balance you have left to pay.
Working From Home Is Changing
A senior economist from Realtor.com says it best... “The ability to work remotely is expanding home shoppers’ geographic options and driving their motivation to buy, even if it means a longer commute, at least in the short term…Although it’s too early to tell what long-term impact the COVID-era of remote work will have on housing, it’s clear that the pandemic is shaping how people live and work under the same roof.” 
Home of the Week
My home of the week this week is a terrific 2nd floor condo in the Pearl District, recently updated with a professional kitchen complete with Wolf range and more - right before the seller moved to Texas. This is a great opportunity for a buyer to get an updated unit for a comparable price to other condos for sale. Click for 360 tour.
Thanks for checking out this newsletter, and thanks for supporting our real estate team for all these years. I like to say "now more than ever, experience matters" and many of you have reached out to me to talk about your real estate concerns. I love catching up with my clients and welcome your calls. Stay safe everyone, ROB LEVY (503) 906-1444