What You Need to Know About HOAs: A Homebuyer’s Guide

What is an HOA?

An HOA, or Homeowners Association, is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents. When you purchase a property within an HOA’s jurisdiction, you automatically become a member and are required to pay dues, commonly known as HOA fees. These fees contribute to the upkeep and maintenance of common areas and sometimes cover utilities like water, sewer, and trash.

The Benefits and Drawbacks of HOAs

Benefits:

  • Reduced Risk Profile: By joining a larger group of homeowners, you’re contributing to the maintenance and exterior updates, which can reduce your individual risk.
  • Community Standards: HOAs help maintain property values by enforcing community standards and ensuring properties are well-maintained.

Drawbacks:

  • Cost: HOA fees can range from as low as $60 to over $500+ per month, depending on the age of the property, size of unit, and the reserve funds available for repairs and maintenance.
  • Control: You may have less control over certain aspects of your property, as the HOA will have rules and regulations that you must follow.

What Do HOAs Cover?

HOAs typically cover the maintenance of common areas, which can include landscaping, pools, and recreational centers. They may also cover certain utilities, though this can vary. For example, in the Mountain Park area, there are separate HOAs for specific building complexes and an overarching HOA for the entire area, providing amenities like a pool and a rec center.

Special Assessments

Special assessments are additional fees that can arise when the HOA’s reserve funds are insufficient to cover major repairs or improvements. These assessments are usually paid on top of your regular HOA fees and can significantly impact your budget. It’s crucial to be aware of potential special assessments, especially if the property is older and may require more extensive maintenance.

HOA Transfer Fees

When purchasing a property with an HOA, be prepared for an HOA transfer fee, typically ranging from $200 to $1,000. This fee can vary widely depending on the specific HOA.

Reviewing HOA Documents

In Oregon, there isn’t a large governing body overseeing HOAs, so it’s essential to thoroughly review all HOA documents. Here are the five key documents you need to examine:

  1. Reserve Study: This document details the HOA’s reserve funds and planned improvements.
  2. Financial Reports: Ensure the HOA is financially stable and can cover future expenses without needing special assessments.
  3. Meeting Minutes: Understand ongoing and upcoming issues, potential rule changes, and financial health.
  4. Governing Documents: These include the rules and regulations, such as pet policies and property use restrictions.
  5. Insurance Certificate: Verify that the HOA has adequate insurance coverage.

Getting Expert Help

While reviewing these documents, consider hiring a company like CID Analytics. They offer a service similar to a home inspection but for HOAs, providing a detailed report on the HOA’s health and potential issues. This service costs around $600 and takes about five business days to complete.

Conclusion

Understanding the role and impact of an HOA is crucial when buying a home. By reviewing the necessary documents and considering both the benefits and drawbacks, you can make an informed decision that suits your needs and lifestyle.

For personalized advice, you can schedule a free strategy session here. Also, check out my Free Buyer’s Guide to help you navigate the home buying process.

Watch the full video on Understanding HOAs: What Every Homebuyer Needs to Know.

Connect with me on YouTube, Instagram, or Facebook!

 

What Does Contingent Mean in Real Estate? A Complete Breakdown for Buyers and Sellers

In the world of real estate, the term “contingent” can sometimes leave buyers and sellers scratching their heads. Whether you’re navigating the buying process or preparing to list your home, understanding contingent offers is crucial. In this post, we’ll break down what it means to be “contingent” in real estate, how it affects you as a buyer or seller, and what potential scenarios you could face.

What Is a Contingent Offer?

A contingent offer on a house means the buyer has included a protective clause in their contract. This contingency gives the buyer an option to back out of the purchase if certain conditions are not met. Typically, a contingent offer involves the buyer needing to sell their current home before they can finalize the purchase of a new one. Think of it as a step in between “active” and “pending”—the property is not quite under contract yet, and there’s still an opportunity for other buyers to step in.

If you’ve heard the term “bumpable buyer,” it means that the current buyer’s offer is contingent on selling their home, and another buyer could potentially “bump” them out of the contract. Essentially, it’s a state of uncertainty, and another buyer might have a chance to swoop in.

What Does Being Contingent Mean for Buyers?

For buyers, there are two key scenarios involving contingent offers:

  1. You Are the Contingent Buyer: You want to buy a home, but you need to sell your current property first. This makes your offer contingent on that sale, which can sometimes be a hurdle. If another buyer who is not contingent decides to make an offer, you will usually have 48 to 72 hours to either remove your contingency or lose the property.
  2. You Are a Competing Buyer: You want to buy a property that already has a contingent offer. In this case, you can put in an offer, which then triggers the “bump clause.” The original buyer (who is contingent) will have a set amount of time to remove their contingency—if they can, they go from “contingent” to “pending,” solidifying their contract. If they cannot, the seller is free to accept your offer, and the contingent buyer is out.

What Does Being Contingent Mean for Sellers?

If you’re selling your home and receive a contingent offer, it’s important to understand the potential risks. If the buyer needs to sell their current home, this could delay your closing timeline. For instance, if their home takes longer to sell than expected, you might need to extend the closing date, which can be problematic depending on your plans.

It’s also essential to assess the buyer’s preparedness to sell their current property. Are they already on the market? Are they prepped and ready, or are they just starting? The more ready they are, the less risk you’ll face. Given the additional uncertainty, contingent buyers often need to make a stronger offer to compensate for the risk you are taking.

Key Takeaways

  • Contingent Offers: Buyers need to meet specific conditions, often involving selling their current home.
  • Bump Clauses: If you are the contingent buyer, be prepared to act quickly if a competing offer comes in.
  • For Sellers: Contingent offers can mean more risk and longer timelines, but they might come with a higher price to compensate for that risk.

Watch the Full Video: The REAL Difference Between Contingent and Pending

If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

Navigating Your Home Purchase: Who’s Who in a Real Estate Deal

Understanding the Key Players in Your Home Buying Journey

Buying a home involves several key players, each with a unique role. In this blog post, I’ll walk you through the major roles in a real estate transaction, what they do, and how they help ensure a smooth process. Whether you’re a first-time buyer or an experienced investor, understanding these roles will give you the confidence to navigate your home buying journey.

The Real Estate Agent: Your Project Manager

First and foremost is your real estate agent. Think of your agent as the project manager of your home buying process. Their job is to guide you from start to finish. Here’s what you can expect from your real estate agent:

  • Scheduling Tours: Arranging viewings for properties you’re interested in.
  • Determining Comps and Offer Strategy: Helping you understand the market value and craft a competitive offer.
  • Negotiating Deals: Working to get you the best terms possible.
  • Scheduling Inspections: Coordinating necessary inspections to ensure the property is in good condition.
  • Connecting with Contractors: Providing referrals for any needed repairs or renovations.
  • Resource Direction: Guiding you to tax or legal professionals as needed.

The Lender: Securing Your Mortgage

Next is the lender, who plays a crucial role in securing the financing for your home. They will:

  • Pre-Approval Process: Help determine how much you can borrow and identify suitable loan programs.
  • Document Collection: Request necessary documents to process your loan application.
  • Loan Processing: Guide you through the steps to secure your mortgage, providing clarity on your financial obligations.

It’s essential to work with a lender who communicates effectively and who you can trust. Poor communication can jeopardize your transaction.

The Escrow Officer or Title Company: Ensuring Neutrality

The escrow officer or title company acts as a neutral third party in the transaction. Their responsibilities include:

  • Holding Earnest Money: Managing the deposit you make when your offer is accepted.
  • Facilitating the Closing: Ensuring all paperwork is completed and funds are distributed correctly.
  • Providing Title Insurance: Protecting you against any title disputes.

Home Inspectors: Assessing Property Condition

Home inspectors are like the primary care doctors for your new home. They meticulously examine the property to identify any potential issues. Key tasks include:

  • Detailed Inspections: Checking structural integrity, plumbing, electrical systems, and more.
  • Referrals to Specialists: Suggesting further inspections if they find potential problems.

The Appraiser: Determining Home Value

Appraisers assess the value of the home to ensure the lender is not over-lending. They are a neutral third party and you won’t have much direct contact with them. Their role is crucial for:

  • Valuation: Ensuring the home’s value justifies the loan amount.
  • Risk Mitigation: Protecting the lender from overextending credit.

The Insurance Agent: Securing Home Insurance

Home insurance is mandatory when buying a home. An insurance agent will:

  • Policy Selection: Help you choose the right insurance policy for your home.
  • Bundling Options: Provide options to bundle home insurance with other policies for discounts.

Other Key Players

Additional roles that may come into play include:

  • Transaction Coordinators: Assist with paperwork and ensure everything runs smoothly.
  • Home Warranty Providers: Offer warranties to cover potential mechanical issues.
  • Contractors: Provide estimates and complete any necessary repairs or upgrades.

Conclusion

Understanding the roles of these key players in a real estate transaction can help you navigate the process with confidence. If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

When Can I Move In? Understanding Possession Dates in Real Estate

One of the most common questions buyers ask is, “When can I move in?” The answer depends on the possession date in your real estate contract. This date determines when you officially take ownership of your new home and can start moving in. Let’s explore three main scenarios for possession dates, helping you understand what to expect and how to plan your move.

1. Possession on the Closing Date

The most straightforward scenario is when your possession date matches the closing date. On this day, you sign all necessary documents, and the property becomes yours. Once your name registers with the title, you officially own the home and can start moving in immediately. This scenario is ideal for many buyers because it allows you to move in as soon as the deal closes.

2. Possession After the Closing Date

Sometimes, sellers need extra time in the property after the sale is finalized. In these cases, the possession date will be set for a few days or weeks after the closing date. For example, if your closing date is January 15th, you might agree to give the sellers two more weeks to move out. During this period, you own the property, but the sellers remain in the home, often paying you rent until they leave. This arrangement, known as a “rent-back” agreement, is common when sellers need more time to relocate.

3. Early Occupancy Before Closing

A less common scenario involves moving into the property before the closing date. While convenient, this option comes with risks. If the transaction falls through, you may have to move out before the deal completes, causing major inconvenience. Additionally, you will likely need to pay rent to the seller for the time spent in the home before closing. Early occupancy is typically reserved for special circumstances and requires careful consideration.

Planning Your Move-In Day

If your possession date is on the closing date, planning your move carefully is essential. Typically, you can expect to receive the keys to your new home by 3 PM, but it’s safer to aim for a 5 PM move-in. The exact time depends on when the title records. I will keep in close contact with the title company and update you promptly. If there’s a chance to get in earlier, I’ll notify you as soon as possible.

Have Questions? I’m Here to Help!

Understanding possession dates is crucial for a smooth transition into your new home. If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

Navigating Real Estate with Tenants? Here’s Why You Need to Know About Estoppels

What Is an Estoppel?

If you’re involved in real estate transactions, especially those with multi-family properties or tenants, you’ve likely heard the term “estoppel.” But what exactly is an estoppel, and why is it important in real estate?

An estoppel is a legal document provided by a tenant during a real estate transaction. It outlines key details about the lease agreements, including the tenant’s rights and responsibilities, as well as other relevant information. Think of it as a written confirmation from the tenant that details the terms of the lease, which can be crucial in preventing future disputes.


Key Details Included in an Estoppel

Some key details typically included in an estoppel are:

  • Names of all tenants and occupants in the unit
  • Lease term, including start and end dates
  • Rental payment amount and due dates
  • Security deposit details
  • Responsibility for utilities
  • Ownership of appliances
  • Information about pets
  • Any problems or repairs needed
  • Other agreements made with the landlord

Why Are Estoppels Important?

Estoppels are voluntary, meaning a tenant isn’t required to fill one out. However, they are in the tenant’s best interest because they bring any unwritten rules or expectations to light. This can be particularly important if there are verbal agreements between the tenant and the landlord that aren’t documented in the lease.

For instance, if a tenant has a verbal agreement with the landlord that the landlord will handle lawn maintenance, but the lease doesn’t reflect this, the estoppel provides an opportunity to clarify such arrangements. This helps both the buyer and tenant understand the full scope of their obligations and rights.


The Pros of Using an Estoppel

One of the biggest advantages of using an estoppel is that it helps eliminate potential disputes down the road. By having everything documented, both the buyer and tenant are protected. For the buyer, it’s an added layer of security, ensuring there are no surprises after the deal is closed. It also helps in understanding the tenant’s expectations, which is crucial for maintaining a good landlord-tenant relationship.

Additionally, an estoppel can serve as a defense if a tenant later claims that certain agreements were in place with the previous landlord. With an estoppel in hand, you have written proof of what was agreed upon at the time of purchase.


The Cons of Using an Estoppel

While estoppels offer significant benefits, there are a few potential downsides to consider. First, because they are voluntary, tenants may refuse to fill them out or may delay doing so until after the inspection period. This can be frustrating, especially if you’re trying to finalize the details of your purchase.

Another potential downside is that an estoppel might reveal unfavorable terms or conditions that you weren’t aware of before. While this can be disheartening, it’s better to know these details upfront rather than being blindsided later.


Final Thoughts

In real estate, especially when dealing with properties that have tenants, an estoppel is a valuable tool that can help clarify lease terms and protect both buyers and tenants. While there are some limitations to what an estoppel can accomplish, its ability to document and confirm lease details makes it a crucial element in many transactions.

If you’ve encountered estoppels in your own transactions or have any tips to share, I’d love to hear about your experiences in the comments below. If you found this post helpful, be sure to check out the full video on my YouTube channel: Avoid These Real Estate Mistakes: The Truth About Estoppel. And, of course, don’t forget to like, subscribe, and share this content if you think it could help others navigate their real estate journeys!

Connect with me on YouTube, Instagram, or Facebook for more insights into real estate. If you’re looking for personalized advice, feel free to schedule a free strategy session here. Don’t forget to grab your free Homebuyer’s Guide here to make your real estate journey even smoother!


Disclaimer: Please note, I am not a lawyer. The information provided in this blog post is based on my experience as a real estate professional and is intended for educational purposes only. For legal advice, please consult a qualified attorney.

Create a life you can’t stop thinking about.

It’s time to make your dreams happen.

Your home can make all the difference in making you want to wake up inspired to tackle your big dreams each day. And maybe just finding the perfect home has been on your mind a lot… 

Do you need a new home office where you can plan your passion projects? Some room for a studio? What is calling you to create a space — and life — all your own?

Just who would you be in a new environment? How would that call you up toward making big things happen in your life?

It might be that today is the day to start making the journey toward getting your new dream home. Contact me if you’re ready to take the first step.

Make Your Real Estate Plans for 2022 Early!

Contact Us Today

Happy Holidays everyone! If 2022 is the year you make your next real estate move, contact us early. Even if your plans are months away, it is best to talk to us as early as possible to get you the information you need to best prepare.

About Us: Over the course of their professional partnership, Aryne + Dulcinea have helped hundreds of clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

Dreamy Storybook Craftsman

This storybook Craftsman greets you with a large vaulted front porch and is surrounded by a quiet and serene yard. The deck delights with treetop views and is perfect for entertaining. 9’ ceilings and gorgeous stone fireplace create a feeling of comfort and warmth. The kitchen boasts fabulous cabinet colors and new stainless appliances. Two bedrooms on the main level, the larger is suitable as an owner’s suite with coved ceilings, a sitting area, and a walk-in closet. Heading to the lower level you’ll find the oversized owner’s suite with private entrance, full bathroom, and walk-in closet. Great contender for possible ADU conversion, check with the county. The remaining portion of the lower level contains a full workshop with workbenches and storage. This home is only two blocks from the river, yet is out of the flood zone. Close to dining, shops, and transit. Quick drive to downtown PDX!

What’s up with Cosmetic Fixers?

 

What’s up with cosmetic fixers? What are they? What’s the difference between a “fixer” and a “cosmetic fixer”? Here is a quick guide to cosmetic fixers. I’ll answer these questions and talk a bit about how buying one could be the best way to get into a busy market and what to look for.

What are they?

First, let me explain what I mean by a “cosmetic fixer”. These are homes that structurally and mechanically are in good shape but look outdated, dirty, or generally unattractive. Cosmetic fixers can be condos, townhouses, single-family or multi-family homes.

What’s the difference between a “fixer” and a “cosmetic fixer”?

In short, a fixer is a property that needs A LOT of work and may not even be livable (lacking heat, missing flooring, open walls, mold/mildew, etc). They are priced significantly under the average price for a similar property in the same area that is “move-in ready”. Fixers often require cash to purchase the home as lenders may not provide financing for them. A cosmetic fixer is a home that has “good bones” meaning its main systems are functioning well and it’s livable, but it may need a deep clean and some minor t0 significant updates to the cosmetics. Cosmetic updates might include things like carpet, paint, countertops, cabinetry, fixtures, tile, and the list goes on… It can also generally be financed as well because while it may need a deep clean and updating it is still in liveable condition.

What to look for

If you’re looking for a cosmetic fixer, you will need to look past a home’s popcorn ceilings, chipping vinyl floors, or dirty, threadbare carpeting and take a good look at the functional aspects of the home. The structural components of the home, like the roof, gutters, siding, windows, and doors should be in generally good to average condition. The mechanical components of the home, like the furnace, ac, plumbing, electrical panel, and ventilation should also be in good to average condition. Your realtor can point out things to take note of and share their experiences, but you should always rely on the expertise of a home inspector and/or trusted contractors to verify the condition.

Is a cosmetic fixer right for my budget?

Whether you are a first-time buyer looking to get into the market, someone looking to buy a second home, or an experienced investor, there are some things to consider first. Mainly, does your budget allow you to make the needed repairs? If you’re getting a loan to buy the house, you’ll want to look at the funds you have available after your downpayment and closing costs. Do you have enough money to make the repairs you want to do? How big is the home?

If you only have enough to cover new paint, some new hardware for cabinets, and an appliance or two, maybe a “light” cosmetic fixer or a more modest-sized home is best. If you have enough cash to replace all the cabinetry, re-do the bathrooms, replace light fixtures and flooring, you’ll have more options.

A way to stretch your budget as a first-time buyer, or someone who intends to live in the home as they fix it up, is to prioritize your repairs. Decide what needs fixing or replacing before you move in, what items you can do in the first year, and what things you can live with for a few years while you save up for the next project. Does the carpet need replacing or does the asbestos popcorn ceiling need to be removed? You might decide to do these items before you move all your stuff in and live with the 1970s kitchen for a while. If you go this route, keep in mind that you’ll also have regular home maintenance things to budget for as well. You may be saving for a new bathroom, but don’t forget to put a few dollars away to re-caulk and touch up paint the exterior next fall or to have your ac and furnace serviced regularly.

Is buying a cosmetic fixer right for me?

Well, if you’ve read this far, I think it could be! Deciding to buy a cosmetic fixer means that you have the vision for what a home could be with some TLC. It also means that you’re committing to a bit of a project. Cosmetic fixers can work for many types of buyers. Maybe you’re handy, you like a DIY project and plan to live in the home as you fix it up. Or maybe you’re planning to hire someone to do all the updates right away so you can move in and enjoy the freshly updated space. You might have an eye for design and see a cosmetic fixer as an opportunity to choose your own finishes and make a space your own vs buying something in great shape that doesn’t match your style. Maybe you see it as an investment opportunity and plan to fix it up to be more desirable to more people and sell it for a profit. Whatever your plan is, cosmetic fixers can be a good option for lots of buyers!

 

If you’re ready to start shopping for a cosmetic fixer in Portland or the surrounding areas, give me a call. I’ll happily show you homes with potential that just need a little TLC. I love a design project and can discuss how to meet your goals and make a place your own.

Why Have a Buyer’s Agent

Thanks to Zillow, Redfin and a host of other websites, shopping for a new home has never been easier. Most of the time you can connect directly to a real estate agent who can open a door and show you any home you want to see. Convenient, yes? Same as having a real estate agent of your own? NOT EVEN CLOSE.

If you’re thinking about buying a home, you’re ready to connect with a real estate agent. Your agent is your advocate and your guide from beginning your property search to closing on your new home – whether it takes a month, a year or a decade. An initial meeting with an agent carries no obligation but offers you the chance to learn about the home buying process, what you’ll need set up in order to write offers, how to get pre-approved for financing and how inspections work. Then if you are selling property it’s essential to have the best local estate agent. When we sold some property in Bristol we used these who are easily the best estate agents in Bristol so they are a very good example of that, and we got an amazing price for the property.

Once you do decide to work with us, we make you and your home search a priority. Agents look for homes right along with you and make sure that you don’t miss a great opportunity. We also know how to gather more information on neighborhoods and schools. We know what red flags to look for when touring a home and when we see a great deal we can bring it to you directly. We’ll get to know you, your likes and dislikes, your needs, and the features that would enhance your quality of life. In essence, we are at your service and our working relationship with you is paramount. You won’t have to give up Zillow or Redfin searches if you work with us, but you will get better access to houses, complete information on properties, pricing and offer deadlines, and you’ll be able to get an offer submitted the moment you are ready to write.

About Us: Over the course of their professional partnership, Aryne + Dulcinea have helped over 200 clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

 

Want to get pre-qualified during the times of Covid-19..?

There are a few tips  I would like to leave current Portland, Oregon residents  who are ready to buy or sell their homes, during the times of Covid-19.

 

Best 7 Questions to ask your Lender :

  1. Are you a direct lender ?

      2. Are you a correspondent lender or broker?

     *Please note, in my opinion, direct lender is usually best.

      3. Are you a local lender?

      4. Is the loan going to be fully underwritten?

      5. What are the current interest rates and can I lock in my rate?

     6. If my parter is affected by COVID-19, could I still qualify?

     7. Be honest, disclose your current working / employment situation with lender. Ask if it is better for you to pre-qualify for the loan individually?

     **The lenders are the experts who will give you the most realistic feedback regarding your ability to pre-qualify.

This video is created by Steph Noble, an amazing local lender here in Portland.

There are some mind- shift changes occurring within the current Real Estate Market during the time of Covid-19.

See link below for the full Video from Steph Noble, Local Portland Lender, Guild Mortgage.

 

 

Stability of interest rates, April 2020

The Feds interest right now is to solely  stabilize the mortgage baked securities for interest rates.

The Feds will increase and decrease their buying based off what is needed to keep the interest rates stable.

Their commitment is to keep rates stable.

The buying of mortgage backed securities is so powerful right now , it is out impacting any other economic factors.

Typically, when we have good or bad economic news, there is an impact to interest rates, the Feds buying mortgage backed securities is out-weighting any of those other economic factories regarding interest rates.

–You may have heard that the Feds are pulling back on what they are buying ?

Even with them pulling back as needed, to keep rates stable,  currently, the feds are buying back double what is being produced.

 

If you have any more questions or comments please reach out to me or Steph Noble directly!

https://www.livingroomre.com/agents/meline-khachatourian/

 

 

The Hunt for Buried Treasure

Sam & Alex are such a classy pair. Very down to earth and know what they want, which makes working together such a joy.

We had been working with Sam & Alex in their home search for a few months when we received an exciting call from them one weekend. They had been to an open house and while they were walking around the neighborhood they met one of the neighbors that gave them the inside scoop that the next door neighbor was planning on selling their home in the next couple of weeks. They quickly called Jason and told them about the buried treasure they had found and told him to work his magic to make it theirs.

Jason acted quickly and found out that even though the home wasn’t even on the market that there was another interested party that we would be competing against. Talk about a competitive market. But Jason didn’t allow this to be a deterrent and as a team we all worked together to craft an offer that the seller couldn’t refuse and to capture their attention before getting into a bidding war with the other party that had submitted their offer.

After a number of great conversations with the seller, Jason was able to deliver the fantastic news that Sam & Alex were officially in contract! We all celebrated and got to work on inspections while Alex & Sam dreamed up how they would make this home theirs.

It warmed our hearts the way their families championed them and gathered around them while they made paint decisions and planned out how each room would be configured. Soon, we were soaring through the inspection and appraisal process and back at the home with Alex’s parents doing jump shots in the front yard.

And thanks to the amazing team work of everyone involved we were able to close 4 days ahead of schedule.

Alex & Sam, we are sooooo happy for you both and are so excited to see the sparkle you both bring to your new home. Cheers to you both and to an amazing start to 2020!

 

Is this Lake Tahoe? Nope, its Milwaukie!

Is this Lake Tahoe? Nope, its Milwaukie! You’d be surprised how similar the feeling is driving up to this 1920’s A-frame bungalow in Oak Grove. As you’re driving down the street you catch a glimpse of the Willamette River and feel the crisp air, surrounded by mature evergreens. This craftsman style bungalow has a huge covered porch, carefully crafted rock chimney, and southwest facing deck for a day full of sun. The best part of this house is that the primary living area is on one level. One level living and a bay window seat for the kittens to sun bathe. The plan was to find land to build and she found house plans for a bungalow she loved- but sometimes the stars align and a home with all the right things comes into sight. Instead of starting from scratch, you can find good bones and make it your own. You can feel it when it’s the right move. She has a love for vintage homes and many ideas for this great house. I can’t wait to see it come together!

Congratulations Iris! It is THE BEST to see a friend so excited about finding the right home. I am grateful to have been part of this adventure with you. Enjoy your coffee on your very own covered porch:-) Cheers! #lovewhereyoulive

JULIA ROBERTSON | Broker Licensed in Oregon & Washington

541-505-1111 | julia@rebyjulia.com

Making the move to Oregon

There’s a lot to love about Oregon, and that is why people make the move here. There’s just something in the air, about the trees, and the overall vibe of the Pacific Northwest. I relocated to Oregon 15 years ago and since I began my career in real estate, most of the people I work with are people I’ve just met. Many of them are relocating to Oregon just like I did. It’s not often I get a call from an old friend out of state planning on making a move to the pacific northwest. I had the pleasure of helping this great family relocating from the bay area to Portland.  Some of things on their list were all the “bonuses” that I had on mine: privacy, trees, nice outdoor living space, a place for an ADU, high ceilings. Well, we found those things and I couldn’t be happier for their new adventure in the Pacific Northwest.

I think most people find their way to Oregon for a little more space, the fresh air, and our beautiful landscape. If you’re thinking about relocating to the Pacific Northwest, let’s connect! I’d love to help you make a move to Oregon or Washington.

JULIA ROBERTSON | Broker licensed in Oregon & Washington

541-505-1111 | julia@rebyjulia.com

Repairs and Final Walk-throughs

You’re buying a home. You’ve completed your inspections. You’re waiting to close. Now what?

You’ve made it through the inspection period and the seller has agreed to complete some home repairs. Congratulations! Now what? A week before closing I remind my clients about the closing process and to schedule a final walk through before closing. Besides asking the seller to provide any invoices or photos showing the repair has been completed- schedule a final walk through at least 3-5 days before your closing date. It’s always a good idea to double check that seller has completed the items they’ve agreed to repair.

Often you’ll find that a seller is scrambling to get those last repairs done, or cleaning up their move out. You’ll walk through the house with your real estate agent and verify that the items have been repaired.  I’ve found that a day or two before closing is just not enough time to remedy unfinished repairs. If a seller has not performed the agreed repair, do not give authorization to close until you are satisfied. This may delay your closing and you’ll have to write an extension to close.

Here are some repair and final walkthrough tips-

  • Make sure your repair requests are written in detail or refer to a specific scope of work.
  • In addition to your inspection report, get a professional estimate for repair.
  • If you are asking for a sewer repair, request that the seller scope the line after the repair and provide you the video of the scope.
  • Make good judgement about work that is being completed by homeowner or needs to be completed by a licensed & bonded contractor. There is a lot of work that a homeowner can do on their own. If the repair is related to a “service” of a major appliance, structure, or health/safety issue- request a professional handle that repair.
  • If a repair is being completed after closing, for example a sewer repair- ask for escrow to hold back additional funds in case the repair exceeds the provided estimate.
  • Your repair request agreement has a date written in which the repairs need to be completed by. If you haven’t seen photos or invoices come in, check in with your REALTOR® to request them from the seller.

If you are thinking about buying a home- give me call! I’d love to help you through the real estate process.

Julia Robertson | Broker | Living Room Realty

541-505-1111 | julia@rebyjulia.com

 

From this day forward..

I met with Mario and Lindsey back in January to go over the home buying process. They were first time home buyers that didn’t realize they could buy a home. To their surprise they were pre-qualified that week. Initially they intended to buy the home they were renting at that time, however the sellers had a change of heart and we were back to square one.

After taking some time to re-evaluate what they wanted, we found the perfect home in Battleground, WA. It only took moments after stepping into the front door that they knew this was the one. To get this home for lower than asking, we knew we had to win over the hearts of the sellers. Mario and Lindsey wrote a compelling letter that included their profession as school teachers. We later found out that the seller was also a teacher, which had an impact on our offer. The offer was accepted and we were moving forward!

The inspection brought up hurdles to overcome, but Mario and Lindsey handled this with ease. After the professional opinions of 5 contractors and extensive negotiating, we ended up with a brand new electrical panel and repaired plumbing. Happy with the result we were cruising ahead for a smooth closing.

Upon closing Lindsey brought a sign that she had saved from the first day they moved into their rental that read “ From this day forward, you’ll always have a home with me”, she crossed out “have” and filled in “own”. A special moment to say the least. Most importantly I received the update that their fur-baby Cal is adjusting very well to their massive backyard.

Congratulations to this incredible couple on their first home!

First time home buyer in a competitive price range

These happy campers relocated from New York less than a year ago. They just closed on the most perfect 1940’s cape cod style home in North Portland. We’ve been on a search for a home under $450k, with character, room to improve, in an up-n-coming neighborhood and close enough commute to Nike. I’d like to say it was an easy search, but this is a popular search for North Portland! We wrote multiple over asking price offers, giving desirable concessions to seller… but lucking out, as runner up or back up offer on these homes. One home in particular, they had their eye on was removed from the market for a month. Although we really wanted to write an offer on that property, the seller had to find a suitable 1031 exchange property on the east coast, while living in the Netherlands. Sound complicated? Yup! We continued to look at other homes and write a few offers in some crazy competitive situations. Sure enough this cute little cape cod came on the market and we had our opportunity again! In a split decision with multiple offers the seller chose an all cash offer, higher than ours, the seller couldn’t refuse the terms. Ugggghhh! We asked to be a back up position and seller chose not to have a back up. All the while I encouraged these two. In real estate, everything happens the way it’s supposed to. Don’t get discouraged.

Two weeks later, I received a call from the cape cod home that the buyer in first position was backing out. Before listing it back on the market, they wanted to know if this buyer was still interested… YES!!! These two were so excited to get into the home they originally wanted. May not have been the way they thought it would happen, but almost always everything happens the way it’s supposed to in real estate. Timing is everything and so is having a professional on your side.

If you’re a first time home buyer and you’re trying to navigate the home buying process- I’d love to be your guide. Call or email me anytime!

Julia Robertson | Living Room Realty

Licensed Broker in Oregon & Washington

541-505-1111 | julia@rebyjulia.com

Home is where the heart is

Julia Robertson | Licensed Broker in Oregon & Washington

As the proverb goes… “Home is where the heart is”, and these two lucky first time home buyers found just the right place at just the right time, in a cute updated ranch home in Lents. They’ve traveled the world and here to stay. Congratulations Rebekah & Reuben!

If you’re thinking of buying a home in Portland or Vancouver- contact me! I’d love to help you through the buying process.

Julia Robertson | Licensed Broker in Oregon & Washington

541-505-1111 | Julia@livingroomre.com