Tag: buying a home in Portland

The Top 5 Mistakes to Avoid When House Hunting in Portland

Posted on by Will Sing

Embarking on a house-hunting journey can be as daunting as it is exciting. With the Portland housing market’s unique dynamics, knowing what to look for in a home can save you from potential headaches and financial pitfalls. In this blog, we dive into the top five aspects you need to scrutinize to make an informed decision and secure a home that’s both a sanctuary and a wise investment. Watch the full video here for a detailed guide.

1. Inspect the Roof

The roof of a house does more than just top the structure; it protects everything underneath from water intrusion and other environmental elements. A well-maintained roof is crucial for the longevity of the home. Most roofs, such as those made from asphalt shingles, have a lifespan of 20 to 30 years, while metal roofs can last up to 100 years. Ensure the roof is in good condition to avoid costly repairs down the line.

2. Evaluate the HVAC System

Heating, Ventilation, and Air Conditioning (HVAC) systems are pivotal, especially in Portland where air conditioning isn’t standard due to historical building codes. Replacing an HVAC system can cost anywhere from $10,000 to $20,000. Before making an offer, verify the age and condition of the system to gauge any upcoming expenses.

3. Check the Water Heater

Who doesn’t love a hot shower at the end of the day? The water heater in your prospective home should be up to the task. Typically lasting 5 to 15 years, replacing a water heater can cost between $1,500 and $2,000. It’s important to check its current state and prepare for its replacement if it’s nearing the end of its lifecycle.

4. Assess Electrical Systems

Electrical systems are the lifeline of your home’s functionality. Older homes might have outdated systems like knob and tube wiring, which poses a fire hazard. Check the electrical panel brand; for instance, Federal Pacific panels are known to fail and could cost $4,000 to $8,000 to replace. Ensuring the electrical system is up to date will save you from potential dangers and expensive upgrades.

5. Plumbing and Pipes

From copper to PEX, the type of plumbing in a home can significantly impact its maintenance needs. Copper and PEX are preferred for their longevity and reliability. However, CPVC can become brittle, and galvanized pipes may corrode internally, leading to rusty water. Understanding what type of pipes are installed will help you anticipate maintenance or a complete replacement, which is crucial for long-term planning.

Bonus Tip: Structural Integrity

Lastly, don’t overlook the structure itself, including the foundation and walls. Signs of excessive sagging or diagonal cracks around doors and windows indicate undue stress. Horizontal cracks in the foundation are particularly serious, signaling potential structural failures.

Conclusion

House hunting is more than just finding a visually appealing space; it’s about ensuring the home you choose can stand the test of time without burdening you with unforeseen repairs. If these tips were helpful, consider subscribing to my instagram or youtube channel for more insights into navigating the real estate market effectively. For a deeper dive into what to watch out for when buying a home, check out our full video here.

If you are wanting a more in-depth chat, schedule a time to meet or contact me at hello@agentlivinginpdx.com

Your feedback is invaluable—drop us a comment below with your thoughts or additional tips you’d recommend. Happy house hunting!

Unlocking the Dream of Homeownership in Portland: A Comprehensive Guide from Offer to Keys

Posted on by Will Sing

Embarking on the journey to homeownership in Portland, Oregon, is an exciting endeavor. With its vibrant neighborhoods, lush green spaces, and a dynamic real estate market, Portland offers a unique backdrop for finding your dream home. This guide aims to navigate the complexities of buying a home in the Rose City, from understanding market dynamics to sealing the deal on your dream property.

Understanding Portland’s Real Estate Market:

The Portland housing market is characterized by its competitive nature, influenced by factors like location, community amenities, and the city’s environmental policies. A dive into current trends reveals a fluctuating inventory and a premium on well-located, updated homes. Buyers should approach the market with flexibility and an open mind, ready to explore emerging neighborhoods or consider homes that might need a touch of personalization.

Building Your Dream Team:

  • Choosing the Right Realtor: Selecting a realtor who aligns with your goals and understands Portland’s nuances is critical. Look for professionals experienced in navigating competitive bids and adept at leveraging their network to uncover off-market opportunities.
  • Securing Financial Backing: Early engagement with a lender to understand your mortgage options and get pre-approved is crucial. This step not only clarifies your budget but also positions you as a serious buyer in the eyes of sellers.

Financial Preparation for Home Buying:

Budgeting for a home extends beyond the down payment. Prospective buyers should account for closing costs, inspections, and the ongoing maintenance associated with homeownership. Adequate financial preparation includes exploring various loan products, understanding the implications of interest rates, and setting aside reserves for unexpected expenses.

Home Searching Strategies That Work:

Prioritize your needs versus wants and remain adaptable. Utilizing online platforms for listings and attending open houses can provide a comprehensive view of the market. Engage with your realtor to discuss potential homes critically and schedule viewings promptly to stay ahead in the fast-paced market.

Making Your Offer Stand Out:

In Portland’s competitive market, crafting a compelling offer is an art. Consider flexibility on closing dates, a solid earnest money deposit, and minimal contingencies to appeal to sellers. Personal touches, like a heartfelt letter to the homeowners, can sometimes tilt the balance in your favor.

The Path from Offer to Ownership:

After your offer is accepted, the inspection period offers a critical look at your prospective home’s condition. Negotiate repairs wisely, balancing your budget with the home’s long-term value. The appraisal ensures the home’s price matches its market value, a step that can require negotiation if discrepancies arise.

Closing and Beyond:

Closing day marks the culmination of your home-buying journey but also the beginning of your homeownership adventure. Prepare by reviewing all documents and understanding the financial nuances of your mortgage. Once the keys are in hand, focus shifts to moving in and personalizing your new space.

Conclusion:

Buying a home in Portland is a journey filled with excitement, challenges, and learning opportunities. By understanding the market, preparing financially, and building a team of trusted professionals, you can navigate the process with confidence. Remember, homeownership is not just about finding the right house; it’s about creating a home that reflects your lifestyle and dreams.

For personalized advice or to explore Portland’s real estate market further, don’t hesitate to text me at 503-303-0822. Together, we can unlock the door to your new home in Portland!

From Frustration to Fulfillment: Hannah and Luke’s Journey to Finding Their Dream Home

Posted on by Will Sing

Buying a home is more than just a transaction; it’s a journey filled with hopes, dreams, and sometimes, challenges. For Hannah and Luke, the journey was anything but straightforward. They started out in a small 1-bedroom, 1-bathroom townhouse but dreamed of moving into a single-family home where they could start their family. However, after working with two different sets of realtors and feeling let down, they were starting to lose hope.

When Hannah and Luke found me, they were understandably cautious. We worked together on and off for about two years, with no pressure to rush into a decision that didn’t feel right. They appreciated that I wasn’t pushing them to buy just any house. My priority was to find them the right home—a place where they could envision their future. It wasn’t just about a transaction; it was about ensuring they found a home they would love for years to come.

The Turning Point: Finding “The One”

After seeing numerous houses, we finally found one that seemed perfect. But, as with many things in real estate, there was a potential “gotcha”—this time, it was the solar panels. The house itself was everything they wanted, but the solar panels came with a $40,000 loan, which was a huge shadow over the property. This was a significant concern for Hannah and Luke, and understandably so.

Guiding Through Negotiations: A Win for the Clients

I knew this was a deal-breaker for them, so I went into negotiation mode. We successfully negotiated for the seller to cover the entire $40,000 loan on the solar panels, ensuring Hannah and Luke wouldn’t have to take on that burden. Additionally, we secured $12,000 in closing costs covered by the seller—a huge win for my clients.

The key to these successful negotiations was preparation. I had worked closely with Hannah and Luke throughout the process, making sure they were ready to act when the right opportunity came up. A year prior, they had been pending on another house, but that deal fell through. From that experience, we learned the importance of being “patiently aggressive.” We were ready to jump on this house as soon as it hit the market, with all the necessary ducks lined up far in advance.

The Final Outcome: Thrilled with Their New Home

The outcome couldn’t have been better. Not only did Hannah and Luke move into their dream home in Tigard, OR, but they also walked away from the process feeling supported, informed, and truly cared for. Their feedback says it all:

“Where is the 6-star option?!?!?!? Will went well ABOVE AND BEYOND my expectations to get my wife and I our dream home after 2 years of searching with him. The best thing about Will is that he LISTENS to your input! He also provides excellent home advice from his personal experiences, is very proactive in communication, and is extremely patient. I can’t recommend working with Will enough!!!

Will was wonderful to work with – patient and understanding, willing to work through the details and all of our tedious questions. After a long search, Will helped us land in a house that checked almost all of our boxes. He followed that up with helping sell our previous home in what felt like record time! He is very knowledgeable, kind, professional, and provides many informative resources to ease the process for an anxious buyer like me. Would highly recommend. Thank you, Will!”

For me, stories like Hannah and Luke’s are why I love what I do. It’s not just about helping clients buy or sell a home—it’s about making sure they’re truly happy with one of the most significant decisions of their lives. If you’re looking for someone who will listen, guide, and go above and beyond to find the right home for you, I’m here to help. Let’s start your journey today by setting up a 1:1 meeting to discuss.

Home Warranties Explained: Pros, Cons, and Everything You Need to Know

Posted on by Will Sing

When buying a home, one of the considerations you might encounter is whether to invest in a home warranty. In this blog post, we’ll dive into what home warranties are, their benefits, potential drawbacks, and why you might need one.

As a local real estate agent in Portland, Oregon, I often get questions about home warranties. If you have more questions or need specific advice, feel free to reach out. My contact information is below.

What is a Home Warranty?

A home warranty is essentially an additional insurance policy for your home. It provides an extra layer of protection on top of your homeowner’s insurance. Typically, a home warranty covers things like the water heater, HVAC system, and major appliances.

When buying a home, you can ask for a home warranty as part of the deal. Either the buyer or the seller can pay for it, depending on the negotiation. Usually, a home warranty lasts for about a year, but it can be renewed annually.

Cost of Home Warranties

The cost of a home warranty varies, but it usually ranges from $400 to $650 per year. This cost can sometimes be financed by the seller for the first year, and after that, it’s up to you to renew it.

One thing to note is the service fee. When you call for a repair, you’ll pay a fee for the service technician to come out and assess the issue. This fee typically ranges from $80 to $100.

Pros of Home Warranties

  1. Financial Protection: Home warranties cover unforeseen repairs, which can be a lifesaver if you don’t have a lot of cash reserves. For example, if your water heater, which costs about $1,300, breaks down, you might only have to pay a $85 service fee for a replacement.
  2. Convenience: Home warranties provide access to a network of professionals. Instead of searching for a plumber or an electrician, you make one call, and the warranty company handles the rest.

Cons of Home Warranties

  1. Unused Benefits: If you don’t need any repairs, you might feel like you’ve wasted money on the warranty.
  2. Service Fees: You’ll have to pay a service fee each time you request a repair. While common for some services, it can add up over time.
  3. Limited Control: You don’t get to choose the service professional. The warranty company decides who handles the repairs.

When to Consider a Home Warranty

Deciding whether to get a home warranty depends on your risk tolerance and financial situation.

  1. Get a Home Warranty If: You don’t have a lot of cash reserves. A home warranty can help cover significant expenses, giving you peace of mind and financial protection.
  2. Skip the Home Warranty If: You have substantial savings and can handle unexpected repairs out-of-pocket. Also, if you’re buying a new construction home with a builder’s warranty, an additional home warranty might be unnecessary.

Doing Your Due Diligence

It’s essential to do your due diligence when considering a home warranty. Review example plans and understand what each warranty covers. Make sure you know where your homeowner’s insurance overlaps with the home warranty to get the best value for your needs.

Conclusion

Home warranties can provide peace of mind and financial protection for homeowners, especially those without significant cash reserves. However, they may not be necessary for everyone. Ultimately, the decision to get a home warranty depends on your financial situation and risk tolerance.

For more personalized advice, feel free to connect with me on YouTube, Instagram, or Facebook. If you’re looking for more in-depth assistance, you can schedule a free strategy session with me here.

Also, check out my Free Buyer’s Guide to navigate the home buying process with confidence.

Thank you for reading, and I look forward to helping you on your real estate journey!

The Portland Market Update: January 2024 – Navigating New Real Estate Currents

Posted on by Will Sing

The dawn of 2024 brings fresh opportunities in Portland’s real estate realm. I’m Will, ready to guide you through the ebb and flow of our local market. Let’s cut through the noise and hone in on the essentials affecting your home buying and selling decisions this year.

Interest Rates’ Ripple Effect Cast your mind back to the 8% interest peak last October—a tremor that dampened demand. Fast forward to today, and we’re witnessing interest rates gently retreat to the high sixes, a move that’s reinvigorating the market pulse. This along with our normal seasonal changes is bringing back demand quickly.

Days on Market and Inventory Portland’s property scene is diverse; quick sales for some listings contrast starkly with others that sit longer, awaiting the right match. The days on market now stretch up to 60-75 days in certain submarkets, painting a vivid picture of buyer selectivity and market stratification. Thus, there are two markets with houses going quickly and the others sitting on the market for a longer time.

To Buy or Sell? Strategic Timing is Key

In this market, foresight is king. Buying a home? It’s a long-term play. Consider not just the immediate gratification but the potential for equity growth over 5 to 7 years. This horizon often marks the break-even point, positioning you to leverage your investment for future property pursuits.

Selling? The current climate offers a unique window. With less competition and a market still warm from buyer interest, listing now could place you at an advantage. Preparing your property early ensures you’re market-ready, poised to act when the season hits its stride.

Your first home purchase is a foundational step, one that paves the way to that dream house down the line. And while timing the market to perfection is a myth akin to capturing lightning in a bottle, understanding these cycles and preparing accordingly can place you leagues ahead.

Embark on Your Real Estate Voyage For an in-depth journey through Portland’s market, set sail with my full video here.

Whether charting a course for purchase or plotting the perfect sale, I’m on deck to help you navigate these waters. Reach out, and together, we’ll find your true north in Portland’s real estate landscape.

When you decide to buy a house together

Posted on by Living Room Realty

 

Sometimes buying a house together is just a breeze.  This was one of those times.  Kara and Nicole are one of those couples that works well together and were on the same page while shopping.  Looking to move out a little further for some more space, inside and outside, these two were open to a lot of options.  They settled on outer lents in a delightful little pocket neighborhood.

Kara was my very first client in 2013 and it has been great to watch her grow both personally and professionally and continue developing our friendship along the way.  These two caring, giving nurses brought masks to us and special treats specifically for me as I dealt with some health concerns.  It’s great to see them settle in a house that will allow for them to build their future family together.  It has been very rewarding to be part of that process. I can’t to see what the future holds for them!

Quiet, with a Pool & Hot Tub

Posted on by Jené DeSpain

As an emergency room nurse, the last few months have catapulted Nee’s daily routine into an entirely new level of chaos. Back in January, we started looking at a variety of options on the market for a house close to her work. She wanted something that felt peaceful, light, airy, perhaps a little like a glamorous mid-century cabin in the woods. Something with privacy and a relaxing backyard. After looking and looking for weeks, we weren’t finding anything that felt right. Then late February hit, and everything came to a halt. She was working triple 18 hour shifts, back to back. The house hunting was going to have to pause. But after a few weeks of chaos at work, she was aching for peace and quiet at home. Nee gave me a call. She really needed a home immediately. I got right to work, going double-time to find her something to bring her some ease.

We expanded our search area just slightly and found an absolute dream home for her. Gorgeous corner lot, tons of space for entertaining, and a huge pool made by AguaPools.com surrounded by a wrap around deck, for less than we had been hoping to spend! With its’ herringbone wood floors, multiple fireplaces (including one in the master bedroom) and solar panels, we knew we had found a very special place. We worked quickly to beat out the other offers and happily got into contract with the listing agent and his seller. After successfully negotiating for a full credit towards her closing costs and a great roof certification, she and I couldn’t have been more happy on her closing day. Nee, thank you for all that you do for our beloved City, and thank you for the incredible honor of getting to work with you during such a wild time. Congratulations on your new home! I can’t wait for all the pool parties to come!

 

Roseway All the Way

Posted on by Jené DeSpain

Location can be a determining factor for many looking to find their next home sweet home. For Chrystal and Michael it was the reason why they were hoping to move. They loved their previous place, but really wanted the style and convenience of a charming home in Roseway. With it’s sweet built-ins, gorgeous tiled fireplace, and fenced in yards complete with garden beds, they were instantly “all-in” on this cutie. The sellers and their agent were truly wonderful to work with, bringing all of us to a success just in time for the holidays.

Congratulations Chrystal and Michael! I couldn’t have asked for a better set of clients to work with! It’s been so meaningful to help you. Here’s to Roseway and new friendships!

 

Buying or Selling from Afar

Posted on by Sean Patrick O'Feery
I find myself closing on another deal for clients that have purchased a home when they don’t live in Portland yet. This is not the first time, nor will it be the last time, that I  help a client buy or sell a home from out of town. I want to be an ambassador to this great city I call home. I welcome fine folks from all over to become home owners and get down with the good times here in Portland and sometimes, sadly, life takes you away from this beautiful city.

The relationships I develop with my clients are so important to me and I think the trust created in that relationship helps people feel comfortable with making decisions from afar.

What do I do to build that trust with a client?
1. I’m brutally honest: If there is a concern, I’ll voice it.
2. I don’t try to sell anyone a home they don’t want, it doesn’t work so I just don’t even try.
3. Service is job one, if you want to Skype or FaceTime through a home or a meeting let’s get it scheduled.
4. One of my core values is getting good value for my clients. Knowing neighborhoods and tracking sale prices is a must for me.

Here is a recent review from a client who sold their Portland home after they had moved back to the Bay Area:

“Sean sold our house while we were out of town!!! Because we hired him. He’s the most professional friendly person you could ask for. And he went beyond the call of duty getting our house ready to sell. We got over the asking price and could not be happier.”

David and Faith

Give me a call if you’re looking through the screen and want to find out more about buying or selling in the Portland area!

Planting Roots in Pleasant Valley

Posted on by Living Room Realty

Lacey and Moussa are the very definition of hard-working and dedicated! They’ve spent the last five years going to school, working multiple jobs, raising their 3 and ½ year old son, and they even moved in with family in order to save for the down payment to make their dream of homeownership a reality.

 

Family and community are everything to this family, so finding just the right home for hosting holiday and community gatherings were of the utmost importance to them. We needed a home with a generous sized kitchen and open dining/entertaining spaces.  We found a few that came close, but this one stood out and felt truly special to Lacey and Moussa. Nestled amongst the trees, every window looks out onto the lush canopy and makes this home feel like a treehouse. They could envision their son Mustafa growing up in this home, gardening, and hosting all their loved ones in this beautiful space so close to nature. This home not only had the generous living spaces that they needed, but it was also positioned perfectly on a flag lot which allows them more privacy than they’d ever dreamed of.

 

Congratulations on finally having all your hard work pay off and finding a home to call your own Lacey, Moussa and Mustafa! We could not be happier for your family or more honored to have been a part of your process!

 

First time home buyer in a competitive price range

Posted on by Julia Robertson

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