Portland is the largest city state of Oregon. Portland is the third largest city in the Pacific Northwest after Seattle, Washington and Vancouver, British Columbia. Portland is known as "The City of Roses" or "Rose City" — its climate is ideal for their cultivation. Portland's climate is temperate and seasonal. Portland is home to Forest Park which is the largest wilderness park within city limits in the United States, and is also home to Mill Ends Park, the world's smallest park.
The Portland real estate market is growing rapidly. New homes are being built in Portland at a staggering
pace. Much of this Portland real estate is built with foreign buyers in mind.
Currency exchange rates have made buying real estate in Portland and the US
in general much more favorable in the last few years.
Over the last several month real estate prices in Portland has begun to soften
a bit. The softening market has prompted some sellers to increase incentives
to sales agents and buyers, ranging from increasing sales commissions to
reducing pricing. Many believe this presents an opportunity to scoop up
hot Portland homes at reduced prices.
The reasons for the cooling market include mortgage rates than are beginning to move higher, a temporary oversupply of homes, and the property tax consequences of moving to a new home. Many experts and market watchers say the fundamentals underlying Portland's real estate market remain sound
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