Tag: buying and selling

Sell A House and Buy A House at the same time!

Posted on by Living Room Realty

Let’s talk about a Sell/Buy situation, as this seems like a pretty scary endeavor at first thought, but with the right plan, tools, and people, this process can be seamless.

PLANNING

Once you’ve decided it’s time to move on to your next house adventure, but you need to sell your current house in order to pay for it, CALL YOUR AGENT, and then call your lender!! These are the first steps. The second step is easy enough – your agent will do a walkthrough in your home that you need to sell. This will be the time when you can discuss your ideal timeline, where and why you’d like to move, and your agent will provide tips to get your house sell ready. This is such an important part! Since you’ll be needing to sell to pay for your next house, the selling element is crucial. You want the most eyes seeing this dialed in, put together, clutter-free, priced right house. It needs to be easily accessible for showings, open houses, and both the inside and out needs to be looking it’s best. You’re joining the dating pool, and you need to find the new lover of this house. First impressions are EVERYTHING!

I would recommend having a list that you all, (you and your agent), can see and make adjustments to as you check off the to-do’s. Something like Trello works wonders! Do the inexpensive, but impactful things such as updating light fixtures, shampoo that carpet, add some mulch and new flowers to the garden. Need contacts, contractors, or handyfolks to help, we have the resources! Create a realistic timeline on getting all the things done, then one to two weeks to list, have another walkthrough with your agent. Planning for selling is so very important. I want to ensure my seller clients are getting the most bang for your buck in prepping their property, but also that once we “go live!” with the listing, that it sells for top dollar to some excited buyers. That brings us to…

PRICING TO SELL

How long do you have to move? Did you just find the perfect house, but you haven’t even listed yet? Did you list, but the house isn’t selling, and you really want to put an offer on your dreamhouse? The price can be the selling or sticking point in this already challenging situation. Your agent will find some comparable sold properties that have sold recently in your area with similar criteria to your house. Price too high and it sits, price just right and it sells fast. List at the right time, et voila! We like to think it’s a bit of an art.

BEGIN THE HOUSE HUNT IN EARNEST

Now that your house is listed, or about to be listed, (within a few days), the house hunt begins in earnest. Time to go house shopping, which is so exciting! Since you’ve listed your home, the chances of competing are a bit higher as a contingent offer. If you’re pending on your house, even better! However, something to consider when writing an offer while being contingent, is that it’s so important to know what that seller needs, and then deliver and then some. The terms and purchase price of your offer will be crucial to beat out the other offers that may not be contingent.

HAVE A PLAN B

As with most things in real estate, predictions can be precarious. Of course, we want everything to go seamlessly, without too many hiccups or hurdles, but sometimes things just happen. While selling your house to buy your next one, having a plan b for the just in case moments is so very important. For example, say you sell your house, but you still haven’t found the next one. A very valid concern! Consider putting your things in storage and getting a short term rental or Airbnb. Maybe a stay with some family and friends for a while until you find that dream house. Never stop the house hunt no matter how exhausting it may be. It will be worth it in the end. Knowing you have a plan b will help take the pressure off an already very much pressurized situation.

All in all, your agent – whether it’s me or someone else just as fabulous – will be your guide, therapist, planner, manager, and advocate throughout this whole endeavor. Ready to list? Want to see the ‘just listed’ and then soon after the “offer accepted” posts? I’m here to help make your dreams come true!

Janelle Freeman, Broker at Living Room Realty

Janelle Freeman, Realtor (@janelleisrealestate) | Instagram

 

 

We Sold a Firehouse!

Posted on by Sean Patrick O'Feery
My wonderful clients Abby and Everett found their unicorn of a home in the form of a firehouse! They had been looking for something specific for quite some time now and found it in this converted firehouse. Everett uses a wheelchair for mobility and loves cars so a big home all on one level with a spacious garage is the dream!
I helped Everett and Abby to find their Alberta Arts bungalow in 2017. They have retrofitted and styled out their home and it was perfect until they had twins!! With a family of four, their beautiful bungalow started to seem small and then came COVID and finding space for a home office too.
One afternoon, I got the call that there was something interesting that came onto the market. A big part of this profession is to be ready when opportunity arises! The three of us got out right away to see this converted firehouse and made a strong offer, beating out two other offers, one by terms the other by price.
The house is not perfect yet, but I’m certain that with the design and style that Everett and Abby bring to their homes, it will soon be amazing AND a perfect fit for who they are as a family.
Congratulations! It is an honor to be your Realtor of choice and I’m looking forward to the sale of your Alberta Arts  home this spring.
If you’re looking for a responsive agent that can tailor service to your specific needs, I would be happy to be a resource for you. Let’s go find your UNICORN!!

 

Just Listed | Light and Bright Hawthorne Victorian

Posted on by Sean Patrick O'Feery

LIGHT AND BRIGHT HAWTHORNE VICTORIAN

$549,000

1331 SE 36th Ave
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.

Dreamy Storybook Craftsman

Posted on by Living Room Realty

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!

Buying or Selling a Home: It Can Be Hard Sometimes

Posted on by Sean Patrick O'Feery
Buying or selling a home can be hard sometimes.
When the stakes are high…
When emotions are involved…
When it is something as essential as your home…
When there aren’t a lot of homes on the market…
When the demand for quality homes is high…
Make sure you are working with an Agent that will honor this process and work with you to through the challenges.
Carly, my business partner, and I really do care for our clients and will take care of you from before the start to well after the finish line. Feel free to give me a call. I start and end with a commitment to service!

Contingent Offer in Lake Oswego

Posted on by Living Room Realty

When Deanna and Andy came to me and wanted to sell their gorgeous home in Southwest Portland to find a new home in Lake Oswego before their young son started elementary school this coming year, I was excited. Their home in Southwest went for $30k over ask and we had multiple offers within 12 hours.

Contingent in Lake Oswego

Their criteria for the new home was: weird. And by weird, they meant, architecturally unique (see above photo).

 

We ended up finding something before their house in Southwest was on the market so we wrote contingent. And our offer was accepted!

Note: an offer that’s written “contingent” means that the Buyer has to sell a property in order to buy a property. 

We were days away from listing their house when we received news that they had been “bumped”. With contingent offers (also called “bumpable”), the Sellers are still able to accept offers from other Buyers and if there’s one they like, they can “bump” the Buyer. Unfortunately for us, there were two offers, so we were moved to the second back-up position.

This tenacious duo had faith. We continued looking at other properties and put their home on the market, and like so many “weird” or architecturally significant homes, the Lake Oswego one they loved had it’s quirks, so we were eventually moved back up to first position. It was a roller coaster! But, now they had sold their house and bought an incredible home in Lake Oswego.

 

See this article from a 1976 Better Homes and Gardens. It’s truly a 70’s GEM!

One of the best rewards of this duo’s patience is that we ended up negotiating for well under ask and the house appraised well over their paid price. Timing was everything.

Interested in an architecturally significant home? Reach out.

Interested in owning a home in Lake Oswego that has an easement (like this one that has three!)? Learn more about easements here.

Want to read Andy and Deanna’s reviews, head here.

Read it and weep: 1 in 3 Zillow respondents cried while trying to sell their home!

Posted on by Chad Meier

Cry Baby Cry indeed!

If seeing your home full of moving boxes has made you tear up, you may not be alone. In a new study of Zillow users, it’s revealed that 36% of their respondents say that they have cried at some point while selling their home (a nerve-wracking experience that can rival a divorce or dramatic break-up in terms of stress) and among those who admitted to shedding a tear, a whopping 20% say they cried five or more times during the process!

“If you’ve ever sold a home before, you know how daunting the process can be,” said Zillow Brand President Jeremy Wacksman in a statement intended to address this survey information. He went on by saying “Anticipating that stress can be a huge obstacle that keeps homeowners from moving on to the next stage of their lives.” Further research reveals that over 75% of Americans who have sold a home in the last three years found the experience stressful. Among the reasons Zillow respondents cited for their anxiety, 70% said uncertainty over the sales price, while 69% worried their home wouldn’t sell within their desired timeframe. Meanwhile, 65% worried their offer would fall through and 65% had anxiety about repairs and renovations prior to a sale. According to a separate study, 71% of those surveyed did not properly time how long it would take to sell their home. For 33%, the process took longer than expected.

However, not all real estate pundits and professionals have found these numbers to be true for their own client bases. When asked, most of the Portland based real estate brokers that were polled for this post, report that their clients find the process of selling a home – or buying one for that matter – much easier than what Zillow’s user data suggests. Could this disconnect stem from how much a licensed (and qualified) REALTOR® brings to the table when it comes to managing the process for their clients? The data would suggest so.

Zillow then goes on to report that their data suggests homes listed between May 1 and May 15 tend to sell faster, and that Nationwide, homes listed during the first half of May sold six days sooner and for $1,600 more than an average listing. But in order to avoid real estate-related stress no matter when you sell, Zillow recommends starting the process by getting professional photos of the home for the vast majority of buyers who will start their search online. On this point, we can all agree!

It’s also a good idea to know the range of prices and be prepared to negotiate and make concessions, they say. “Our survey found more Americans were stressed over selling their home than planning a wedding, getting fired or becoming a parent,” says Wacksman. Zillow’s research also show that 61 percent of their respondents are buying a new home at the same time as selling their current residence. This of course adds significant pressure and financial complexity to the process. Want a few more nuggets of wisdom from Zillow? “Pay attention to online curb appeal and be ready to make concessions.”

They then follow up their assertions (and reveal their true motivation for supplying their data) by pitching their newest service: “Homeowners looking for convenience, certainty and control now have an alternative to the traditional sale process. With Zillow Offers®, home sellers can request a free, no-obligation cash offer from Zillow to buy their home, and they can pick a close date that works best for them – without having to worry about open houses or fixing up the home for sale.”

It’s at this point, I wonder how many are being motivated (scared) into giving Zillow a call?  Well, if you’ve read any of my latest ramblings, you know where I stand on THAT subject. ¯\_(ツ)_/¯

Have questions or want to discuss how selling and/or buying real estate can actually be fun & rewarding at the same time? Please feel free to reach out to me anytime at 503-709-9600 -or- Chad@PortlandHomeBase.com

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!

The McDonald Mission

Posted on by Living Room Realty

The McDonalds are my mission in real estate – they are why I love my job! I met Earl a few years back when they were looking for an investment property. I helped them get a house with a detached ADU on it that had great long term renters. Fast forward to March of this year when they shared with me that their family grew from 5 people to 6 people, and they were looking for a new place to call home. Their current home was lovely, but it was time for them to find a little more space with some upgraded amenities. We looked at a few homes that were so-so, but then we saw Plover. It was really beautiful. It backs up to a public park with tons of greenspace, gardens, soccer fields and playgrounds… a perfect location for a family with 4 kids. I distinctly remember Earl and Brianna saying “I don’t even know if we deserve this nice of a house?” Right then and there, it became my mission to get them into it and change their mind. Plover had been on the market for about a month, so we excitedly thought there was a chance that our contingent offer might get accepted… but then a non-contingent competing offer came in… ours was put into back-up. We picked up our bootstraps and moved on.

Going through the offer experience cemented for Earl and Brianna that they definitely wanted to sell their home and buy up. So we started to get their home ready. Earl and Brianna were machines! They did such an amazing job getting their home ready – it was an all out family effort and it was spectacular. We hadn’t been seeing any good homes come on the market, however, and it was a little scary taking such a leap to sell without knowing what options would come up. A few days before their home was about to hit the market, we got a call from the Plover agent. We got a second chance!! The first buyers got cold feet, even after an incredible inspection on the home… it was meant to be Earl and Brianna’s, we were certain!

Two weeks into Earl and Brianna’s home being on the market with great activity but no offers, we got a little nervous. We only had a total of 3 weeks to have an accepted offer on their home before we’d be moved to a bumpable status and the listing agent could solicit offers again on Plover! Long story short, we received multiple offers on their home, had to go to their back-up offer, which was also contingent, and the dream of Plover seemed farther and farther. The buyers of Earl and Brianna’s home had an adorable condo in South Tabor, but it wasn’t getting offers either! Days before we were about to throw in the towel on the whole deal, the buyers got an offer on their condo and the buyers of the condo showed some serious commitment. With a lot of flexibility on the listing agent’s side of Plover and a lot of dedication on the buyers agent side of Earl and Brianna’s house, we made it happen. It was a game of Dominoes, but my very special clients sold their house one day and bought a house the next day.

I couldn’t be happier for this incredible family and their tenacity to get what they deserve, all the while leaving it up to the universe for whatever was meant to be. We went through a journey together and are forever connected. Thank you for representing my mission and trusting me to represent you in this complicated process. All my love, gratitude, and congratulations, McDonalds!