Winter Is the Best Time to Find a Deal in Portland

Ask around Portland metro, and you’ll hear that winter is the slow season for real estate, and I think that view gets it completely wrong. Winter is the best time of year to invest or buy a fix-and-flip, and it’s just as promising for anyone willing to put sweat equity into a home they plan to live in.

Motivated sellers, fixer properties, and estate properties keep hitting the market whether it’s the high season or the low season for regular residential sales. If you’re hunting for a great deal, look in fall and winter.

Motivated sellers don’t wait for spring. Several kinds of properties tend to sell at a better price in the colder months. Fixers and rentals are two of them. You’ll also find nice homes owned by people relocating for work. Some of those homes are sold directly by the owner, while others go through a relocation company, depending on whether the seller works for themselves or a large corporation. Either way, these owners need to sell, and they will.

Keep an eye out for short sales. A short sale happens when someone still owns a property but owes more on it than it’s worth. Sometimes the home has lost value. In other cases, the owner has taken out additional lines of credit against the house and borrowed more than it can support.

Bank-owned homes hit the market year-round. REO stands for real estate owned, which refers to bank-owned or foreclosed properties. They come to market whenever they’re ready, and banks don’t wait until April to sell. If a bank forecloses on a property in October, it typically lists the home in November or December to sell it. From there, it usually keeps lowering the price every couple of weeks until a buyer steps in.

Estate sales often come discounted. Estate sales are another strong source of investment properties and great deals. When someone inherits a home and no one in the family wants to use it, the property usually sells at a discount. In many cases, heirs already own homes and have no interest in moving back into a parent’s or grandparent’s house. These homes typically sell as is, but if you’re willing to take on some of that risk and get a good inspection, you’ll know exactly what you’re getting.

Fewer buyers, more motivated sellers. I expect this winter to be a particularly good one for anyone looking to invest. Higher interest rates mean fewer buyers are competing for homes, while sellers who are listing tend to be highly motivated. You also now have a working list of where the best deals tend to come from.

If you’re looking to invest this winter, I can put together a list of properties where you could walk into good equity or simply land a better price. Call or text me at 503-901-8100, email me at nkrautter@gmail.com, or visit sellpdx.com. You’ll find me at SVN - Imbrie Realty, 7150 SW Fir Loop, Suite 100, Portland, OR 97223. I’d always love to help you find your next great deal.