Portland Real Estate Update |
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One of Portland's TOP Real Estate Sales Teams Since 1988 |
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Portland Market as of End of July |
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The latest numbers are out and the MLS report for the Portland, Oregon metropolitan area ending end of July, 2022. (Click on the image on the right to see the entire seven page PDF). The information shows a continued increase in home and condo prices in the Portland area with the "inventory in months" again moving up from 1.4 to a full 2 months which reflects more inventory hitting the market. However, interest rates have backed off substantially and while peaking at just under 6.0% just a few weeks ago its not uncommon now to see 30 year loans locking in the 4.5-4.75% range. (Keep in mind a "balanced" market where its equal for buyers and sellers is said to be about 5-6 months of inventory, and we are at only 2 months). The average sales price for the metro area is now at $620,900, up 9.4% when compared to the same month in 2021 with the median sales price up 10% at $550,000 during the same period.
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Why We Are NOT in a Housing Bubble! |
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I have been asked a lot lately, "Hey Rob, are we in a housing bubble?" So I thought I would pull together several charts and graphs from the experts and show you why most experts don't feel we are in a housing bubble. We talk about foreclosures, lack of inventory, lending standards and even the media not letting us know rates have dropped considerably since their peak in June. Check out the video and please make a comment on it! |
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Portland General Electric Time of Use |
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As many of you know, for about 10 years now Rob has driven electric cars and my current daily driver is a 2018 Tesla Model 3 I bought new in February 2018 and I absolutely love it. I'm never going back! Recently we switched to the time of use program at PGE and by charging the car and running the electric clothes dryer after 9pm or before 7am (or all weekend long), we have been saving considerable money. There is also a discounted time from 7am-5pm that's less than the normal rate, but the BIG savings are over night and weekends. Note the normal rate is about 12.8 cents per kilowatt hour, so this is close to 50% less. You might want to check it out by clicking on the picture above. Kudos to PGE for finally doing this. |
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Welcome Pat Weiss to our team! |
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Recently Caity and I have had the honor of having long time Realtor Pat Weiss be a part our team. Pat and I have been friends for many years and have sold many of our listings together as we work the same marketplace. Pat recently purchased a home in Bend, Oregon and wants to spend more time there, plus do more of her world travelling and as a result we have been assisting Pat with her clients. Pat and I have similar backgrounds having both lived in Saskatchewan and Alberta as kids. Pat is a veteran Realtor, having been active full-time in Portland for more than 40 years. She has seen it all and can lend some sorely needed perspective to the market that we are seeing. Pat has a varied background. Her BS in Biology (magna cum laude) from Santa Clara University profiles her scientific bent and attention to detail, but with a minor in art history and its emphasis on design and attention to history. Pat grew up in Canada, having lived in Alberta and Saskatchewan. She has the no-nonsense mid-West Canadian sensibility that is so helpful in a crazy market. She is available for consultations and handholding. Pat enjoys traveling, skiing and visiting with her wide-ranging family both in the US and Canada. We look forward to helping Pat's many clients into our fold and taking care of their real estate needs in the future. Welcome Pat!
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Search ALL Portland Area Homes |
Click on the link below, or the image to search the Portland area MLS for all single family, condo, or multi-family homes in the Portland metro area. The site also includes some pre-defined common searches on the right side, and also always shows the most recent 20 listed properties in the metro area. Be sure to SAVE your search, that way you will always be notified of any new matches as they happen. www.allarealistings.com/
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Search Palm Springs Area Homes |
As many of you know, Rob Levy is also licensed in California with Keller Williams Realty and sells investment and vacation homes to many of his Portland area clients. You can check out all the homes and condos in the Coachella valley cities of Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Indian Wells, La Quinta, Bermuda Dunes, Sun City and Indio by clicking on the link below or the picture. www.AllDesertListings.com
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Thanks for checking out this newsletter, and for supporting our real estate team for all these years. We are always available for you. ROB LEVY, CAITY ABOUAF and PAT WEISS
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Give Us a Call
(503) 906-1444
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Now More Than Ever, Experience Matters |
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The Rob Levy Team, Rob Levy Principal Broker and Caity Abouaf, Broker
Keller Williams Realty Professionals / Main Office (503) 546-9955
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