We wanted to get some insights into the first time home buyer market in Portland, Oregon so we reached out to Jolynne Ash, she’s a Buyer’s Agent & Principal Broker with DreamStreet Team.
Here’s her Contact Information
Berkshire Hathaway Northwest Real Estate
5 Centerpointe Drive Suite 150
Lake Oswego, Oregon 97035
Q1. What’s the biggest fear you hear about from first time buyers about the process, and how do you respond to it?
Biggest fear is not being able to get a house. The inventory is so low and competition is so high that first time homebuyers with low down payment loans are not competitive.
Q2. When you bought your own first home, what did you learn about the process?
My first home was a condo in Bellevue WA in 1982, interest rates were 13% and I bought FHA. No competition and the Seller was willing to pay all the closings costs just to get rid of it. Sales Price was $32,000.
Q3. Is now a good time to be a first time buyer in Portland? Why or why not?
No, competition is fierce. Interest rates are the biggest plus right now making homes as affordable as possible. It is impossible to find a home without a dedicated Realtor willing to stick by you and write as many offers as it takes to win one. In the end we usually find a house that they love but it can be a bit of an emotional rollercoaster.
Q4. Is there anything special or unique about Portland or Oregon that first timers should know about?
Educate yourself on the market. Know what it takes to be as competitive as possible. Find a good Buyer’s Agent willing to go the distance and be patient. Good things come to those who wait.