3 ms·
Can you explain this? Are banks not lending in Portland? Or the down payment is $500K? (Like 10% on a $5M loan?)
by MichaelGG 11y ago
Can you explain this? Are banks not lending in Portland? Or the down payment is $500K? (Like 10% on a $5M loan?)
- cullenking 11y agoThe Portland real estate market is extremely hot right now, and you can't get a decent house in a decent (or even not decent but "up and coming" neighborhoods) without an all cash offer, or way over asking price. Every friend that has been through the market in the last year has been beaten out of multiple bidding wars by all cash, no inspection offers 10+ % over asking price. Lots of bay area money moving up to PDX, tons of satellite offices opening up for tech companies, it's a big cultural shift that's happening pretty fast.