I often have home buyers and sellers ask me what the difference is between an appraisal, and a home inspection. Its a good question, and to a layperson they seem the same. The difference is described in this video where Rob explains what a home inspection encompasses and also an appraisal, who orders which one and also what comes first. If you have questions please reach out as I have seen people order the wrong one at the wrong time and end up paying more than needed.

Portland By The Numbers (And Just The City of Portland)

Just released by Fidelity title is a snapshot of ONLY detached homes and ONLY in the City of Portland. The average sales price is higher than my usual reports as they come from the MLS and cover condos and houses, and the entire metro area. What this shows is the average sales price in Portland is $675,000 and also shows mind blowing low inventory levels of only 537 homes on the market in the entire city! Click on the picture to see the whole report or to run one for your zip code too!

As mentioned briefly in the above report, the inventory in the City of Portland for detached homes is only 537 properties, an all time low.

For Metro Portland the inventory time is 0.8 months, so that means if no more houses were listed it would take 0.8 months to sell every house we have for sale. As a comparator, 6 months of inventory is considered a "balanced" market for buyers and sellers. Click on the photo to see the article.

Thanks for checking out this newsletter, and thanks for supporting our real estate team for all these years. 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 , ROB LEVY and CAITY ABOUAF