| > | | | | it," said Kutz, a former University of Portland |
| Homes with three bedrooms or less are | | | | baseball pitcher who had played for the Great |
| considerably less expensive than a home with | | | | Lakes Loons, a Class A affiliate of the Los |
| three or four bedrooms. This is common sense. | | | | Angeles Dodgers. "We originally thought about |
| But the clever part is when a home has existing | | | | buying something larger -- three bedrooms, two |
| space that could in the future be converted into | | | | baths. We had some savings, but with the market |
| another bedroom or bathroom. The real estate | | | | doing what it's doing and the money we had, we |
| market in Portland, OR is forcing potential buyers | | | | were forced to look at smaller homes." |
| to think creatively. | | | | Their can do attitude wound up working in their |
| Many neighborhoodsespecially in some of | | | | favor. They found a two-bedroom home with a |
| Portland’s more desirable locations: | | | | space that could be used for anther bedroom in |
| Alameda, Mount Taber, Hawthorne, Rose City | | | | the future. |
| Park and Multnomahremain costly and coveted. | | | | Eventually, M Realty broker Alicia Selliken found |
| Buyers who are ready to purchase a home but | | | | them a prospect: a two-bedroom, 1910-vintage |
| can’t afford the high prices of these | | | | "Sears bungalow," assembled from mail-order |
| neighborhoods are looking to smaller homes as | | | | parts, on Northeast 66th Avenue. Kutz loved the |
| alternatives. | | | | Rose City Park neighborhood, the unique |
| Such was the case when a young couple from | | | | character of the home and the fact that it had an |
| Oregon searched for their first home. They had | | | | unfinished basement. Eventually, the couple |
| been renting for years, had saved money, and | | | | offered $213,000: $40,000 under its appraised |
| knew where they wanted to live. But they | | | | price. The offer was accepted, and they've |
| couldn’t afford the down payment on a | | | | already finalized plans to add a bedroom, |
| home that had more than two bedrooms. The | | | | bathroom and laundry room to the basement. |
| Oregonian ran an interesting feature article about | | | | It seems this is becoming a trend. Three |
| the couple. | | | | bedroom homes are more expensive and there |
| As recently as last summer, former pro baseball | | | | are more of them on the market. Six times as |
| player Given Kutz and his wife, Katie, a nurse, | | | | many three bedrooms were recently listed for |
| weren't in the market to buy a house. Kutz was | | | | sale on the RMLS system in the early part of |
| transitioning to a law enforcement career, while | | | | 2008. The homes tend to stay on the market |
| his wife was preparing to graduate from nursing | | | | longer, too. Two-bedroom homes spent an |
| school. | | | | average of 54 days on the market, while three |
| "We had talked about an investment, a house we | | | | bedroom homes stayed on for 71 days. |
| knew would appreciate if we put a little work into | | | | |