Portland Condos – January 2010 Market Update

{City of Portland} – CONDOS – {January 2010}

 

Visit my website www.RuthPriceProperties.com for more information about Portland Oregon Real Estate.

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1,495 Condos!

  Yes, that’s the number of condo units currently listed for sale in the City of Portland as of today. That’s a lot to choose from. A few things to consider to maximize your potential and minimize your risk.

 

  • LOOK & ELIMINATE – Do your homework & narrow your search down to just a few buildings. Look at the history and trends in the buildings you are considering. You must be fully informed on prior sales and the current units on the market to recognize when a good deal come up.
  • NEW vs. OLD – The risk is much greater in new buildings with large amount of unsold units. If you must live there you should score a good deal or plan on living there at least five years. If you think you’ll be living in your unit less than five years then your best bet is to consider buildings that only have re-sale units available. Re-sale units are those that are owned by individual owners and not the developers of the building.
  • LOCATION vs. PRICE – If you can’t decide – always choose a better location rather than a lower price.
  • VACANT IS BETTER – Look for vacant units. Sellers tend to be more motivated to negotiate with you.  
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