Portland is one of the fastest growing residential destinations in the country. In addition to a booming tech industry, this quirky city is one of the least expensive urban hubs on the West Coast. For those planning to move here, that can mean some stiff buying competition. We talked with Victor Bulbes of Keller Williams Realty about the current real estate landscape and potential idiosyncrasies in housing options.
The Ins and Outs of Portland’s Neighborhoods
According to Bulbes, Portland neighborhoods are largely divided by the Willamette River, which separates east from west. Bulbes says, “On the west side, we have the more developed, more planned, more organized neighborhoods, which includes the big-name technology centers like Intel and Nike. The east is where you have more of what you might see in movies. There’s more character, and it’s a bit more quirky—Portlandia-style.”
It’s important to note these differences. Bulbes said that, in his experience, most people move to Portland for either the technology industry or the character. This could partially dictate where you choose to live: “There are a lot of tech people who work and live on the west side. Then on the east side, because of the character, there are more professionals and people who value the neighborhood and hanging with friends. They care about neighborhood character and are more into enjoying the local businesses like coffee shops and restaurants.”
Understanding Portland’s Real Estate
Per Bulbes, the Portland real estate market can be tough for buyers, but lucrative for sellers. He said that, “it’s hard to find homes because there’s a big imbalance between the buyers and sellers. More people are buying than they are selling.” This activity stagnated during the national housing crisis, but has been growing exponentially since.
As a result, finding your perfect Portland home can be difficult. Whether you want close proximity to a school, a vibrant neighborhood, or a larger home, it’s difficult to get all three. Often, buyers sacrifice size for location. Bulbes explained, “Right now, I have buyers who are getting a house that is probably around three to five hundred square feet smaller than what they need. Their current primary concern regards storage in the house, so they’ll probably have to build a shed for storage or invest in a storage unit.” Bulbes said that house size can be a real concern, and many have to settle for less space because of raising prices. “I see people downsizing from bigger to smaller homes, and you have a lot of stuff, so you have to either sell it, give it away, or figure out a storage option. There’s a trend here in Portland where the city encourages smaller homes. This trend will continue, and people will have to get used to living in smaller spaces.”
For those downsizing or moving to Portland, storage must be dealt with in a different capacity. Whether you’re planning to build a garage attachment or need to invest in a long-term storage solution, our Portland storage center can help you out. We offer reasonably priced full-service storage for both seasonal and long-term projects. Starting with free valet-style pickup, we can alleviate some of the stress that comes with moving. When you’re ready, push-button return delivery means your belongings are always at your fingertips.
Finding Your Portland Dream Home
If you’re planning to buy or sell a home in the Portland area, look no further than Victor Bubles. After living in Portland for 13 years, he has the local know-how necessary to find your perfect home. His user-friendly website is a great place to find homes in Portland, no matter the desired size and neighborhood. Bubles cares deeply for his clients and wants to help both buyers and sellers get what they want: “Most buyers have been shopping for quite a while, so I provide whatever I can do to help. I feel like I’m doing my job when clients are very happy and excited.”
