When discussing market value of a home there are a few
things to consider. What is the overall size of your home? How many bedrooms
does your home have? How many bathrooms? Are there any new renovations? What
are the prices of similar houses in this neighborhood? All of these things play
a factor in how much your Portland house for sale is worth.
The Portland Oregon Real Estate market is rarely fickle. If
you pay close enough attention to the homes for sale in Portland or Portland Condos for sale, you will see a
steady rise in the market value of Portland houses for sale. There are,
however, events that take place that greatly affect the market value for
Portland Oregon Real Estate. For instance, Southwest Portland is undergoing a
great redevelopment that will cause the prices of the homes for sale in
Portland to sky-rocket. Once a house is purchased its perceived value may
change based on the renovations done after purchase and the effects calculated
by the redevelopment and/or additions to the neighborhood. The more housing
built by the city after a home’s purchase the higher the perceived market value
of the home.
The average cost of a home in Portland over the past six
months has been averaging around $322k. If you are looking to increase the
market value a house that already costs this much then you would seriously need
to consider renovations that add value to the home like renovating the kitchen,
bathroom, or building a finished basement. These renovations add thousands to
the final sale price and can land you a pretty penny after a sale due to market
value.
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