Monday, January 8, 2018 / by Annemarie Reger
This past year was awesome, and we know 2018 has unlimited potential as well! As you know, the Real Estate market has been booming and 2017 was a strong seller’s market. With interest rates being at an all-time low – it tended to be a win-win for sellers and buyers. Bidding wars had homes selling for thousands over asking and, yet most buyers were able to purchase their dream homes with affordable mortgage payments due to low rates. Heading into 2018, still in a sellers’ market, we should see this continue for awhile even with interest rates slowly rising – this year will still be a smart time to sell. To paint you a pretty picture – in the Greater Portland area, there are still 6,400+ homes on the market and 45% of them are already sold! That means that practically half of the houses you see with a FOR SALE sign in the yard- will already have a “SOLD” sticker on them. Not to mention, houses are still being purchased for 99% of asking price! That is outstanding, considering it’s the middle of WINTER! The Portland housing market is still going strong, if you are currently renting you may want to consider investing in your OWN house rather than paying someone else’s mortgage for them.
We’re getting many questions from clients regarding the effects of the new tax laws on real estate. We will have an update from one of our preferred CPAs in the next week. As always, please let us know how we can support you with your real estate goals this year- even if you’re just curious about your neighborhood, give us a call! 503-893-2022
Be sure to keep your eyes open for our monthly Newsletter!