Computer models can be used to generate valuations of homes. This page displays homes where the computer model suggests that the home is at least 10% UNDERPRICED . Please click on any pin on the map or the link with the MLS# in the table to learn more. If the results come back as “0 properties” then that home has been put under contract since this page was published on May 5th
View Portland Area Bargains in a full screen map
The Greater Portland real estate market is hot. Many times there can be multiple offers on a given property. This means that prices are rising and there is intense competition for desirable listings.
Even in this hot market, bargains exist! On any given day more than 200 homes in the Portland area will have a list price which is at least 10% below what a computerized valuation report suggests the property is worth.
The National Association of Realtors® has a valuation service available to its members which produces estimates called the “RVM.” The RVM is an attempt by the Realtors® to give you a better version of Zillow’s “Zestimate.” In addition we obtain computer valuation data from 2 other sites — ProspectNow and Remine. The maps and tables accessible through this site show properties where the computer valuation exceeds the list price by at least 10%.
Not all these properties will be true bargains. Some sellers and Realtors® deliberately underprice a property in order to trigger a bidding war. Some properties have “back stories” about work that is needed to be done or a problem in the neighboring vicinity which lowers value.
Many bargain properties are those which started off as “over-priced” and then “went stale” — the initial “too high” price led to a lack of interest by prospective buyers. Still others reflect the desperation of a seller — perhaps the initial buyer lost their financing and the seller had already bought a new home and needed the money yesterday.
Under-pricing is not a substitute for finding the home you love, but it is always interesting to see if a bargain might suit you.
Unless you are an investor, numbers alone are no reason to buy a house. No matter how much of a “bargain” the numbers may say a property is, it is critical that you are comfortable in any home you live in.
It is part of my job to help you find the best match given your budget. It could be a bargain.
The legal stuff: The property listing data and information, or the Images, set forth herein were provided to RMLS™ of Portland, Oregon from third party sources, including sellers, lessors, landlords and public records, and were compiled by RMLS™ of Portland, Oregon respectively. The property listing data and information, and the Images, are for the personal, non commercial use of consumers having a good faith interest in purchasing, leasing or renting listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing, leasing or renting. RMLS™ of Portland, Oregon and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information, or as to the accuracy of any of the Images, set forth herein or referenced by links hereto. Real estate listings held by brokerage firms other than The Virtual Realty Group are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2019 RMLS™, Portland, Oregon.