MILWAUKIE, Ore. (KOIN) — When the Mitchelldyer family put their Milwaukie home on the market about 2 weeks ago, they had some strong feelings.
“If some cash buyer comes in they can take their cash and shove it because I don’t want their money,” Craig Mitchelldyer said. “Basically I really wanted my house to go to somebody that needed my house.”
Craig and his wife Jennifer know what it’s like trying to buy a house right now, a frustrating process they’ve been going through since October.
“Every offer that we made we lost,” he said. ‘Either there was multiple offers over asking price or cash buyers.”
“It’s just really hard to compete with that if you’re a normal person, and by normal I mean a local Portland person,” he told KOIN 6 News.
Vitality Home Realty owner Parvaneh Kalantari said crazy “is a good word to describe” the housing market in the Portland metro area.
She said some of her other clients “put in probably 13 offers on houses in the last 6 months, and the last offer we put in was $70,000 over list price.”
Californians are some of the biggest buyers of Portland-area houses, but Kalantari said the majority of her buyers in 2015 were from Washington, DC and other states along the East Coast.
“A lot of the California buyers have cash because the housing market down there is a lot more expensive,” she said. “So when they sell they have this cash they want to invest.”
When a house down the street from the Mitchelldyers went up for sale, they included a cover letter with their offer and told the seller about their family.
“They were able to go write a contingent offer which is nearly impossible to do, ” Kalantari said, “and the house they wrote on had multiple offers. And the sellers loved them and their story and that they were from Milwaukie.”
Then the Mitchelldyers put their own house on the market. In 2 days, they had 5 offers, including a local couple just starting out.
“To me,” Craig said, “even though that wasn’t the best offer, that was somebody that I wanted to buy our house. I wanted to give them the opportunity to buy a house that they maybe wouldn’t have gotten otherwise.”
The sale is expected to close in March.
Their advice to buyers is to hang in there.
“Just don’t give up. Even though it’s a tough market right now it’s not an impossible market,” he said.