Real Estate

3 tips for navigating changing real estate market conditions in PDX

Presented by a PDXtoday Partner

Aerial photo over a Sacramento, CA home, driveway, and street.

While you can’t always count on a hot housing market, you can count on the certainty of a cash offer from Opendoor. | Photo provided by Opendoor

Location, location, location — that’s been the name of the real estate game for decades. These days, though, you may be hearing more: recession, economy, inflation… terms that definitely have less appeal.

The real estate market is cyclical, and today’s market is currently trying to find out where it will land (albeit a bit dramatically). The difference? Unlike big market turns of the past, this time we’ve swayed quickly from one extreme to the other.

In just two short years, we’ve seen outsized home price appreciation in most US markets, followed by a swift decline in housing demand. The whiplash of these fluctuations (and the uncertainty about what happens next) can be hard to wrap your head around.

The good news is, even though none of us can predict what will happen next, that’s okay. If you’re a seller or a buyer (or both) currently stuck in the loop of dreaming, hoping, anticipating + dreading, the experts at Opendoor have three tips to help ride the wave.

Wide-angle view of a woman walking a dog in front of a row of brick townhomes in Dallas, TX. — In the absence of bidding wars, you have time to get to know a neighborhood, look at different housing options, and narrow in on your “must-haves”.

Tip No. 1: Don’t worry about finding the “perfect” time to sell or buy.

Hint: It doesn’t exist. The perfect time is what works best for you and your life. Some factors, like a growing family or a new job in another state, are an easy call. But other reasons require you to dig deep. Think:

Will a move improve your day-to-day life?
Will you gain more time, be closer to friends and family, or be nearer to activities that bring you joy?

Tip No. 2: Research your financing options.

The good news: You’ve got options. Whether you’re getting a new loan, refinancing, or looking to lower your payment, a mortgage calculator can help you figure out how much you can afford in minutes. There are also rate buydowns, which can help you lower your rate. Pro tip: A lender can help you figure out what your options are.*

TIP NO. 3

This content was created in partnership with Opendoor and written by Garcelle Vierra Erdie.*

If you’re house hunting (or considering it within the next 6 months), would the state of the economy cause you to stop or pause your search?

Yes
Maybe
No

LET US KNOW

Click here to have your event featured.

Monday, Dec. 5

Rachmaninoff’s Piano Concerto No. 2 with Pianist Kirill Gerstein | Monday, Dec. 5 | 7:30 p.m. | Arlene Schnitzer Concert Hall, 1037 SW Broadway, Portland | $14.99-$125 | Catch the soulful final show of a three-performance run at the concert hall or from the comfort of your home.
Standup Comedy: Good News with Lee H. Tillman | Monday, Dec. 5 | 8-9:30 p.m. | Portland Center Stage, 128 NW 11th Ave., Portland | Free | Start your week with a laugh at this monthly live comedy event where Portland’s funniest comedians riff on the day’s headlines.
ConCocktail, Hosted by Dr. Xander Gerrymander | Monday, Dec. 5 | 9 p.m. | Star Theater, 13 NW Sixth Ave., Portland | $12-$75 | The region’s best bartenders will be put to the test in three timed rounds, facing off against each other and against the curveballs thrown at them in this mixology match up.

Tuesday, Dec. 6

Mountains on Stage Winter 2022 | Tuesday, Dec. 6 | 7-10:30 p.m. | Cinema 21, 616 NW 21st Ave., Portland | This selection of films about skiing, mountaineering, climbing, and paragliding brings alpine excitement to the theater.
Liberace & Liza Holiday Show | Tuesday, Dec. 6 | 7:30-9 p.m. | Portland Center Stage, 128 NW 11th Ave., Portland | $35 | David Saffert and Jillian Snow Harris share the stage as Liberace and Liza Minnelli, creating an exhilarating night of musical and comical fireworks.

We have a calendar filled with events and activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.

JUST GETTING STARTED

Weather

45º | Partly cloudy | 9% chance of rain

Sunrise + Sunset

Rise: 7:35 a.m.
Set: 4:26 p.m.

Sports

How’s our blood pressure, Thorns fans? Has it gone back to normal yet? Last Friday, head coach Rhian Wilkinson turned in her resignation — only a day after owner Merritt Paulson announced his intent to sell the team. In a statement posted to her Twitter, she provided more context for the decision. 🌹

Plan Ahead

In celebration of its 130th birthday, the Portland Art Museum is offering free admission to walk-in guests on Sunday, Dec. 11. The free tickets can also be reserved online; doors are open 10 a.m.-5 p.m. 🖼️ (KOIN)

Eat

Don’t go hungry if you’re heading up the mountain. The chefs behind the roving hot dog truck Cobra Dogs shared their favorite spots to grab a bite on Mount Hood, from Government Camp’s Glacier Public House to Skyway Bar and Grill in Zigzag. (Portland Monthly)

Arts

More space for hanging pieces, roomier offices, and a significant bathroom upgrade — that’s what Blackfish Gallery has in its new home at 938 NW Everett St., just a block and a half from its previous location. Patrons of the art gallery will also appreciate the high ceilings and skylights. (Portland Tribune)

Closing

Metalwood Salvage, a Northeast Portland store where artisans make furniture with recycled materials, teach welding classes, and host market events, will close its doors in May 2023. Its three departments — retail, fabrication, and education — are splitting into separate businesses that will still serve Portland. ⚙️

Deal

Looking for the perfect holiday gift? Check out this BOGO beef deal from Kansas City Steak Company: Buy 10 steakhouse-quality top sirloin steaks wrapped in hickory bacon for $79.99 by Sat., Dec. 31 and get 10 steakburgers free — shipping included. 🥩*

Seasonal

Your Monday morning holiday gift inspiration, courtesy of Etsy: For the person who loves bread. For the person obsessed with their pet. For the person who can take a joke. For the kid who loves to color. Plus, all you need is popcorn or all you need is marshmallows. 🎁*

Content marked with an * is brought to you by our advertising partners and helps make this newsletter free.

What’s not to like? ❤️

PDXtoday’s 2022 Instagram wrapped

A graphic shows for separate photos in colorful borders with their Instagram like counts

What was your favorite thing that we posted this year? | Graphic by PDXtoday

It’s that time of year again, when everyone proves how much of a die-hard fan they are for their favorite bands.

If you’re unfamiliar, we’re talking about Spotify Wrapped, a viral marketing campaign where the music streaming service analyzes the listening habits of each user, providing them with an insightful and humorous walk down auditory lane. It analyzes your preferred genres, tells you how many minutes of music you enjoyed — City Editor Ben’s tally was 69,060 — and a lot more statistics.

We decided to take a deeper look at the liking habits of our Instagram followers throughout 2022. Taking the top spot with 1,463 likes was a gorgeous nighttime shot of I-5 in South Portland, with the Milky Way gleaming in the heavens.

If we had to describe you’re liking personality... it would be, The Portlander.

You’re a seeker of community events. You venture out into the city, searching for beauty, deeper history, and new restaurants — the more beers on tap, the better.

THE WRAP

Today’s issue was written by Ben.

Editor’s pick: One of the best parts of my job is learning new things about Portland almost every single day. Here’s a recent discovery that made a splash — I had no idea there was an aquarium bar, Moloko, on North Mississippi Avenue. Cocktails and coral, now that’s a combo.

Missed Friday’s newsletter? The Portland Thorns are up for sale.

Connect with us.

Editorial: Cambrie Juarez, Ben McBee, Britt Thorson, Emily Shea | Send us a scoop, question, or feedback.

Sales: Terri Kiesenhofer | Advertise with us.

Content marked with an * was created in partnership with 6AM City’s advertising partners. Paid content helps keep this newsletter free. 6AM City may also receive a commission on purchases made through affiliate links in this newsletter.

ADVERTISE | SHOP | CAREERS | ETHICS

Did a friend forward this free newsletter to you?

Content marked with an * is paid advertising. Content marked with an ^ is created by our content studio. The company may also generate commission from affiliate links in the newsletter.

Change your preferences or unsubscribe here.

P.O. Box 2505, Greenville, SC 29602

ADVERTISE | CAREERS | ETHICS | PRIVACY | THE BUY