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Agents offer their market predictions

Downtown Portland

We are well into 2020! With warmer weather approaching, now is the time to consider getting a leg up on eventual challenges that Portland home sellers may face this year. According to Zillow’s metrics, the Portland area is currently experiencing a neutral market. Although home prices have stayed relatively steady over the past year with a very minimal decline, Zillow predicts they will start to rise this year.

The year to come will certainly have its challenges, but don’t fret: If you are selling your home this year, there are ways to mitigate the issues you might run into in the process.


1. Pricing a home right despite fluctuating values

According to 500 of America’s top agents who participated in HomeLights Q4 survey, overpricing was the number one challenge for their seller clients in 2019. The problem with overpricing is it can make your property appear stale, attracting low-ball offers.

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2. Bending to buyer demands

When preparing a home for sale, it’s best not to avoid those maintenance issues you’ve been neglecting for a while. Fixing them may well be part of a buyer’s demands, from structural defects to safety concerns and code violations. About 14 percent of top agents surveyed said this was the biggest challenge for home sellers in 2019. It will benefit you – and your eventual bargaining position – to be proactive in addressing these.

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3. Managing expectations of the home-selling process

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Don’t underestimate the time commitment needed for the entire process of selling a home. About 7 percent of top agents believe the uncertainty and time that comes with selling will be a greater challenge for home sellers this year.

At the moment, median listing prices in Portland are $449,950 (higher than what they are selling for, at $434,600). However, as the market balances out and potentially heads towards a seller’s market, patience might be the key to selling your home for more.

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Now, shake off those winter blues! It’s expected that 2020 might throw a detour or two your way, but with these and other resources, you’ll be in good shape from the start.

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