What causes Portland home prices to fluctuate?

Over time, the value of a property will fluctuate up and down. Over a long enough period of time, home values generally appreciate. But, of course, there is always a certain amount of risk in real estate.

When your home appreciates you have a greater asset to borrow against, and you'll generate a greater profit when you sell. Property values in Portland fluctuate for a variety of reasons, so how will you know what you're purchasing presently won't depreciate the day after you close? The most important factor to consider is that you select a REALTOR^® in Portland who knows the factors that drive local prices.

Find My Home's Value

Many believe that the economy is the most crucial factor affecting real estate appreciation. It goes without saying that there are quite a few factors on a national level that alter your property's value: unemployment, mortgage rates, business growth, and more. However, your property's value and the components that play the biggest role in its appreciation are specific to the local Portland economy and housing market.

Let Shawna Orozco Realty help you with your first home purchase in Portland

Let Shawna Orozco Realty help you with your first home purchase in Portland

Location in a community - Convenient access to schools, jobs and amenities like shopping, restaurants and entertainment is a priority to a lot of buyers and will greatly influence home values. So when it comes to retaining their value, these communities often appreciate much more reliably than areas lacking key features.

The latest home sales - You should receive figures on the recent real estate sales in the regions that you're asking about from your real estate agent. You'll need to know figures like time on market and seller discounts.

Appreciation history - Have home prices increased or decreased over the past 5-10 years? Is the community believed to be desirable because of its location or affordability?

Economic factors - Have companies moved into or away from an area? Are local companies hiring? Is there a nice mix of jobs in an area, or does it count on just one industry? All these play a part.


	Recognizing the factors that influence your house's financial worth is important. Visit this link for an evaluation of your house's value. Call me at 503-931-4156 or e-mail me if you have any questions at all. I'd love to hear from you.