Portland Real Estate Market Update for Summer

There are many great Portland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Value Report so you know what buyers will pay for your home in today's market. You may also call me at (503) 245-9000 for a FREE home buying or selling consultation to answer any of your real estate questions.

Summer is here and the weather isn't the only thing heating up!

The Portland area real estate market is in good shape, with rates still down around 4%.

That is great news for both buyers and sellers, as we are coming into the highest selling season of the year.

For sellers, this means that buyers are coming out in full force. If you want to get multiple offers for your home, there is no better time to sell than now.

For buyers, there is plenty of inventory available and there are many homes to choose from. There isn't a better time to discover the perfect home.

As always, feel free to call us with questions you might have about buying or selling in the Portland area. Whatever your needs, we are your real estate resource!

Consult With Us on How to Improve and Maintain a Good Credit Score

There are many great Portland area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Value Report so you know what buyers will pay for your home in today's market. You may also call me at (503) 245-9000 for a FREE home buying or selling consultation to answer any of your real estate questions.

All You Need to Know about Credit...

Today I wanted to take some time and talk to you all about credit reports. We have had a lot of inquiries in the last few months that are mostly concerned with what people can do with their credit reports or how they can improve their credit score. I'm going to shine some light into these questions and hopefully clear up some misconceptions you might have about these things.

Credit Score

This is one of the most important numbers that you have. This score is basically a number telling a lender what the potential risk is in lending you money. What is interesting is that people don't realize today that medical insurance, auto insurance, prospective jobs and apartments to rent, all of these things are predicated on by your credit score. So although you may not be interested in these things, it is important to stay on top of your credit.

So, there are three credit reporting bureaus and you will get what we call a FICO score. This score can range anywhere from 300 to above 800. The higher the score you have, the less risk there is to the lender. With a better score you will also get better rates and better terms.

How is this score calculated?

35% of your score is based on payment history, 30% is based on the amount you currently owe, 15% is your credit history, 10% comes from new credit inquiries, and another 10% comes from the current types of credit that you have in use. With this in mind, I have been working on a lot of short sales and foreclosures lately, and these things will remain on your credit history for 7 years, but keep in mind that short sales only affect your credit for about 2 years. Foreclosures will continue to effect your credit for 7 years. If you file for bankruptcy, this will stay on your credit for 10 years.

You are entitled to a free credit report every year, and my advice would be to make it a New Year's resolution to check your credit every year on www.annualcreditreport.com. Go over the report carefully and make sure that there aren't any debts on there that are not yours or check to see if the payment history is accurate.

One of the best ways to escalate your credit score is to eliminate any debt that you might have. There are some other creative strategies to improve your score, and if you'd like to know about them, just give us a call.

Do you need the help of a credit repair company?

A lot of clients have been asking me if they need to utilize a service to improve their credit score, and the answer is NO. These companies can't do anything for you that you can't already do for yourself.

So my advice is to get a copy of your credit report and go over it carefully. If you have any questions or concerns then please feel free to call us and we would be happy to help you out or refer you to someone who could give you assistance.

As always, if you need any assistance with real estate in Portland, or if you want answers about your credit, please give us a call at (503) 245-9000 or email us at spring@springsteam.com.

Spring is a Wonderful Time to Buy & Sell in Portland

  

Spring Selling Season
With the housing market and the weather warming up here in Portland, it's a good time to consider whether selling your home is a good option for you. Please come and talk to us and we'd love to run some numbers for you to see what you could realistically get for your property. Also, remember that this is the time of year to prep your home for selling. Rejuvenate your yard and make it look crisp and fresh because you need to entice buyers through the front door. Curb appeal is crucial at this time of year!

Spring is Great for Buyers Too
This is a good time for buyers too, as we're experiencing historically low interest rates and inventory is always up in the spring, so you would have a variety of homes to choose from. If you're in the Portland market to buy, then please contact us and we would be glad to assist you in finding a home.

Consider us your top real estate resource in Portland. Thanks again for watching today, and we look forward to hearing from you. If you require assistance, call me at (503) 245-9000 or email me at spring@springsteam.com