Just Sold near Peninsula Park! Yay for my first-time home buyers!

Congratulations to my clients!

As you may already know, my business is referral based and I love meeting new people. So you can imagine how happy I was when a past client recommended Jane and their partner to me. It was such a joy getting to know them on their house hunt!

Here’s a little rundown of how it went.

We started with a buyer consultation and spent an hour going over the process in general. That’s the best way to get started, going over the current market and setting expectations for everyone. That’s when I ask the most questions about what my clients are looking for and we set the pace for the house hunt.

 

We saw multiple houses every week in various neighborhoods for many weeks until we narrowed it down and found the area that felt like home. The house they chose checked a lot of boxes, it was the perfect size in a great location and it had more than one bathroom plus a garage (bonus!). We saw the house 3 times just to be sure and then successfully got the offer accepted! They did a great job of getting financially ready, approved by a reputable lender, and had all their ducks in a row in that arena. (That truly is the first step!)

 

As we went through the inspection contingency period, I really liked that Jane and her partner asked a lot of questions along the way. One thing that people don’t always lean into when buying a house is making time to dive into research and ask all of the questions, even the dumb ones (and there are no dumb ones). Carving out time for this is so helpful because it’s the meat and potatoes of the whole deal. I’m here to advise and guide you along, but there is a lot to digest and having the time for those conversations and follow-up questions will always feel good.

Here is a general overview of the inspection contingency period. I will advise you while you look over the permit history, have the sewer scoped, the home tested for radon, the property searched for underground storage tanks, plus have a whole property general inspection as well. And that’s not always all, there are more investigations sometimes. It’s a lot and it’s awesome! Because after all of that, clients have a much better understanding of the home with all of its pros and cons.

 

So in this case, some things did come up in the investigations and we negotiated a credit and a price reduction. A couple of weeks later we had fun at the signing and a few days later we wrapped it all in a bow and I gave them keys.

 

Please reach out if you’re interested in talking about buying or selling a home. I’m always here for a check-in about the current market, lender recommendations or anything I can do to help advocate for your homeownership.

 

 

2nd Time’s A Charm for Fallon (aka: We Got Married Because of Rising Interest Rates)!

Fallon decided last summer that selling her house (and then trying to purchase another) in a quickly changing real estate market wasn’t going to meet her needs. She just felt like she was taking a hit on both her sale and her purchase.  But Fallon had the luxury of flexibility (something we think is one of the most important aspects to have in order to make good real estate decisions). So, Fallon moved in with her then boyfriend, now husband Clyde (HURRAY – wedding present to be delivered soon!), rented out her cute NoPo home for a little under a year, and made some extra income on top of her mortgage for a while.

Fallon then put her home back on the market a year later when she and Clyde, had a much better sense of what their next steps would be after selling, ie: price point, location (they would have ended up in Wilsonville last year but now are concentrating on SE & SW PDX!), and ahem, exactly how they would be legally holding title together (married folks have automatic Rights of Survivorship in Oregon).

While Fallon accepted a lower offer on this property than she was expecting last summer, the benefits of this market for Fallon and Clyde as Buyers now are so much clearer. Prices are down in general so the lower offer she accepted on her home sale is a wash, they have a lot more inventory from which to choose in their price point, and a lot less competition. The whole picture just made so much more sense this year. It all just fell into place.

It’s clear to us that the keys to Fallon’s real estate success are definitely patience, flexibility & (surprise) love!  Come to think of it, those same ingredients are probably a pretty good recipe for a happy life in general…

Congratulations to our wonderful client Fallon for selling her adorable NoPo “Tall-Skinny” and for getting hitched to one of the sweetest guys we’ve met!

Kari & Erika

Planning to Sell Your Home in 2023?

Selling your home does not have to be stressful and overwhelming. Here are a few tips to help you get started on planning ahead ⤵️

🏡 Understand your local housing market. Take some time to connect with an experienced agent who can talk to you about the potential value of your home and help you decipher the comparable sales in your neighborhood. (It’s not all just about square footage or school zone especially when dealing with older homes that have more unique qualities.)

🏡 When you’re ready, hire a listing agent – but not just any agent. Make sure you work with a knowledgeable realtor who knows about your neighborhood and where you’d potentially want to move, but most important someone you can connect with. Your agent will be your advocate and counsel through an emotional and sometimes complicated undertaking of getting your home sold.

🏡 Set up a realistic listing timeframe. This is key! Selling a home is not a fast or overnight process, it does take time. For example, if your goal is to be on the market by April, you will need at least 2-4 weeks of prep time (sometimes more) depending on the condition of your home.

When you’re ready, reach out and I can help you determine a realistic timeframe that fits your needs as well as help coordinate any help you may need to get your house market ready.

 

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5 Tips Before Buying a Home

BEFORE you buy a home, know these 5 things 👇

#1. How much you’re approved for if you’re financing and how much of your monthly budget do you want to dedicate to your housing costs?

#2. If you’re financing, be sure to talk to at least 2 lenders to compare products and rates.

#3. Find a realtor who is knowledgeable about the neighborhoods you’re looking in and that you connect with. Buying a home can be an intimate process so it’s important to feel aligned with your realtor’s “style”.

#4. How competitive is the market for buyers right now? Having perspective before you start shopping can help make the process smoother.

#5. What are the top things you’re looking for in a home that you AREN’T willing to compromise on?

If you live in the Portland area and need real estate guidance – whether that’s to buy or sell, get in touch with me. I’d love to chat and see how I could help!

How to Choose Your Buyer

No doubt it is exciting to receive multiple offers on your home, but when it comes time to actually accept an offer it’s not uncommon for sellers to feel torn or unclear as to which is the best offer for them (it can be different for every seller).

Home offers are hard to interpret so I wanted to offer some helpful tips for when you find yourself in a multiple offer situation (perhaps a Part I?):

—Offer language tells a lot 📝

A purchase offer clearly indicates a buyer’s intentions (along with the more obvious details like if they are qualified, ready to purchase and have a lender in place). In a pool of offers, a realtor with the right skills will identify those that are authentic and well considered.

—The buyer’s agents’ communication style 🗣️

When you sit down with your agent always ask about their take on the agent representing the other party. Communication style, what they say or don’t say, can say a lot about how the transaction can go. Keep your eye out for the agent that will ask well-constructed questions, will make sure to put forth a well-written offer, and educate the buyer about the terms discussed.

—Buyer’s past experience in the market 🏡

Have they been looking for a week or 3 months? Have they had issues with their past offers? Paying attention to details like past contracts, finances, and people involved in the purchase decision gives you a more robust understanding the offer and will help set expectations moving forward.

Did you find these tips helpful? Let me know if I should make a Part II.

Also! I share a lot more insights as a part of my monthly newsletter. I keep these correspondences very intentional and insightful. If you want to join my list, call or email me.

Can We Practice Kindness In Real Estate?

One of my pet peeves in the industry I’ve worked in for the past 18 years is the lack of empathy or compassion when negotiating a real estate sale. I believe that we should always strive to be nice for the sake of being nice. Real estate comes with heavy emotions, on both sides. As an agent representing either side of a deal, you can position yourself to keep a level head, show enthusiasm, check your ego, be like-able, honest and show integrity before you answer your phone and say “hello”.

A little reminder for us agents —-

If you are a buyer’s agent wishing to make a bid on a seller’s home remember: the home your clients wish to buy might be the sellers “baby”. They may have purchased it when it was a dump, given up weekends and holidays to get it done, and sweated blood, tears and have gone through multiple marriage counseling sessions to bring it to market. Don’t be the asshole agent that barks orders to accept an offer within 12 hours of them listing the house. Try instead to be more kind; more empathetic, because being rude will get you nowhere. Show that you are an organized, likeable and patient agent, one that understands that the sellers might want a couple days of market time, and your buyers aren’t going anywhere — they really want the house.

As broker’s we have a vested interest in pairing clients with a buyer that will make a good offer and a fair deal. If a broker feels as if you are difficult to work with, that you’re waving a red flag at day one, they will worry what the rest of the negations might bring. Don’t be an asshole (something I tell my 15 and 18 year old children- practice kindness).

If you are a seller’s agent bringing a new home to the market remember: Most homes are not perfect. You may have hired the painters to help your clients pre-list and stage the home, it’s looking very dialed and swanky (especially the coffee table), but upon closer inspection, the roof is three layers and the sewer is broken. In our current market, it is often the case for seller’s agent to call a buyer’s agent and say, “I have 10 offers in hand and while yours is the highest and the best, and my sellers really do appreciate that you went 100,000 over asking, they do not feel the need to credit you $5000 for the sewer repair. You must take it as-is or we will go to the back-up offer. First, threats don’t feel very nice. I implore all listing agents to have the courage to talk with their sellers not only about the deficiencies in the systems of the home that a buyer would be taking on, but how they would feel in the buyer’s shoes. As a listing agent if you know that the sellers roof is shot, get a couple of roofing bids prior to listing the home so your seller has opinions from professionals. Educate your sellers so they can be prepared to make decisions before you are at the end of your inspection period. Educating sellers makes them feel less blind sighted. My job as an agent is to bring as much finical security to a seller but it’s equally important that I ask my clients to stretch towards a place of fairness and compassion.  Its one of the way we can change the world.

Never underestimate the power of practicing kindness in real estate. Try to see both sides, that’s where the goodness lies. Being kind doesn’t make you a sucker or less business-like in real estate, it allows you to be in a place of integrity.

Just Listed | Light and Bright Hawthorne Victorian

LIGHT AND BRIGHT HAWTHORNE VICTORIAN

$549,000

Lovely Victorian in the heart of Hawthorne gets a gold medal for flow and natural light. Open floor plan with a generous sized living room and a wood burning fireplace. The built in bench makes the kitchen the perfect central hub. Putting the flex in flexible spaces, this home has an exterior entrance to the primary bed and bath for an opportunity to Airbnb, separate it off as a home office or whatever your heart desires. Tuck under garage and driveway for off street parking and bike storage. New carpet, new lighting and fresh paint throughout. Coveted Sunnyside Environmental School and close in SE location! Fully fenced yard for your pup.

 

Open House | Saturday Feb 19th from 12 – 2 | Sunday Feb 20th from 11-1

 

2 bed | 2 bath | 1720 sq. ft.
MLS# 22011413 | Taxes: $4629.88

 

 

 

 

 

 

 

 

 

 

 

 

Find more photos here.

Just Listed | 443 SE 46th Ave | $489,000

Just Listed

Updated Creston-Kenilworth Bungalow

4437 SE 46th Ave Portland OR 97206

 

Updated bungalow with the classic white picket fence. Main floor has a fireplace, dining room with cedar accent walls, bed/bath and updated eat-in kitchen.  Upstairs is a wonderful large bedroom with bonus space for desk/crafts/nursery etc.   Basement has a fully finished living space, bedroom and workshop/laundry room.  Slider in dining room provides great light and easy access to enjoy the hot tub. In summer you will love the mature landscaping and deck. Ample detached garage for cars or projects.

 

3 bed | 1 bath | 2128 sq. ft.
MLS# 21597782 | Taxes: $4166.33 | Lot Size: .11 Acre

 

 

 

 

 

 

 

 

 

 

Here is the yard in summer!

 

The Best Part of Second Place? Back-Up!

First- What is “Back-Up?”
Back-up is the term, often used by Realtors, to describe a second position buyer. If there is more than one offer on a home, a seller may choose to offer the people in second position “the back-up position” so that seller does not need to go back to the market if the first position offer does not work out.   Sellers often like to avoid the process of going back to market; making space for new people to see the home and a the paperwork associated with a second round of offers can be inconvenient and time consuming.
As a buyer, it is hard to hear that your offer was not accepted. Most of us move into a home in our minds before our offer is accepted. Coming in second place in a multiple offer situation can have a real silver lining though. The back-up agreement is basically like having a first right of refusal if the buyer in first position chooses to back out.
It seems counter intuitive that in this strong sellers market, buyers are backing out of sales more than ever, but it is happening. It may be because of the high level of competition required to just get your offer accepted and have the opportunity to take a further look at a home. Once a buyer has an offer accepted, there can be a moment after the competition is over and you look a little further, that gives pause. There isn’t a lot of time to think things through thoroughly in this competitive market.  This is making the back up position more valuable than ever.
My wonderful, experienced client Kate, who just got the keys to her new home yesterday, is a perfect example.  We had made, and been turned down on, two offers and were prepping for a third when we got a call back from the agent from the second home.  The buyers had backed out and we were being called up from the “Back-Up position.” Because the seller had one buyer back out, they seemed to be appreciative of our offer. We had some very reasonable negotiations around inspections and the sellers repaired an expensive sewer line. Now, because we were willing to take “back-up,” Kate is moving in to her new home!
Hang in there buyers and don’t hesitate to accept that second place prize of “Back-Up.” It is more valuable than ever before!
If you are looking for a buyers agent that is always looking out for you, give me a call!

Old Home Gets Love it Deserves with New Owners

Annabelle and Fabiana contacted me to help them sell their 70s, updated ranch in Hillsboro, and also to buy their next home. I knew selling their home would be a breeze with a few cosmetic updates. (See their listing here) My only concern was finding them their next home with such low inventory! As sellers, they got to reap all the benefits of the strong seller’s market we have right now. Especially in the suburbs! They got multiple over asking offers and closed at 9% over their asking price! As buyers though, they were in the tough spot of having to compete for the few great homes on the market.

Selling and Buying

We navigated this sell-buy process by asking anyone making an offer on their home to please include a free 30-day rent back. This means that all the potential buyers would allow Annabelle and Fabiana to stay in their home an extra 30 days after closing so that they would have more time to find and close on their next home. Every offer we received included a rent-back of some kind. Annabelle and Fabiana were happy to have the flexibility, and the extra cash from the great offer, to make their move.

We toured a few homes, but with so few on the market that matched what they needed, our search was actually relatively short. They lucked out by finding a home that had just come back on the market and making an offer right away. It was in an unusual location on an unimproved street, so that limited their competition as well. The home has more space than they originally thought they needed, and the location works great for getting to work and school. Their offer was accepted right away and we moved forward with the purchase!

Old Home Getting the Love it Deserves

The home that Annabelle and Fabiana chose is over a hundred years old and perched up off the street on a little hill. It had gotten some updates done here and there but it is in need of some bigger updates. During the inspections, they found a number of items that needed repair immediately. Luckily, the sellers were willing to work with them on those things. The sellers had a new roof put on the home and garage before they closed, and they also provided a credit for the cost of a new sewer line. Since I was able to sell Annabelle and Fabiana’s home for so much more than they were expecting, they were left with some extra cash to make additional repairs!

Annabelle and Fabiana have big plans to rebuild the supports for a sagging, enclosed, back sunporch and to repair a beautiful, covered front porch. They also plan to install new windows on the main level replacing cracked and dry rotted single-pane windows. They will also update some electrical items for safety, and update the bathrooms and appliances to modern standards. The house has a certified front yard habitat, and they are looking forward to maintaining the garden and growing their own fruits and vegetables, something they did at their previous home as well.

This 100 year old home is in great hands with its new owners. I saw how beautifully they cared for and maintained their previous home, so I’m sure this one will be just as well-loved. I am so happy for Annabelle and Fabiana and can’t wait to see how they give this home a new life!

Congrats Annabelle and Fabiana!