Tag: first time buyers agent

Portland Market Update Late-March 2024

Posted on by LeAnn Raschke

Find out what’s happening in the Portland real estate market for Late-March 2024.

 

Hi I’m LeAnn Raschke, a licensed OR & WA broker at Living Room Realty, here to tell you what you need to know about the market for late March 2024.

The Spring Market

With the re-emergence of the sun, the first day of Spring, and the cherry blossoms afoot, it’s hard not to notice Portlanders have a bit more pep in their step! Welcome to the spring real estate season, where the chill of winter thaws, and a new cycle of opportunity begins!

For Sellers, Spring is typically the ideal time to list your home. With longer days, warmer temperatures and gardens blooming, properties tend to show better, attracting more potential buyers.

With that, over the last 2.5 months, we’ve seen new listings slowly make their way to market. There has been an average of 72 new listings per week across the entire Portland Metro Market since the beginning of 2024.

Competition Returns

So, just as the Spring brings warmer weather, it also brings competition.

Buyers have now adjusted to the 6.5 – 7% interest rates, and they are awakening from their winter hibernation.

In our office, which holds the number one market share in Portland, we’re seeing multiple offers on new listings that are priced well and move-in ready.

Many lending experts are predicting that we won’t see rates fall much further through the end of the summer.

In this ramp up to a busy season, it’s crucial for buyers to act fast and for sellers to price their homes strategically.

Connect With Your Agent

Buyers, in this market, now more than ever, it is crucial to have a knowledgeable buyers agent on your team. We will help you navigate this wild time by providing up-to-date information on new market listings, getting you to the negotiating table with strategically strong offers and guiding you gently through to closing.

If the buzz of competition isn’t for you, this is a great time to schedule a strategy session with your agent to examine your home buying goals so you’re in a better position when you are ready to take flight.

 

Make A Move

Whether you’re buying, selling, or simply dreaming about your next move, give us a call today. We’d love to help you find your next Living Room.

 

First-Time Homebuyer Tips

Posted on by Living Room Realty

Howdy y’all! Queer realtor Río Palomares here with some tips on how to get into the real estate market as first-time homebuyers. First-time homebuyers make up for the majority of my clientele (fellow queer community as well, hello!). Go ahead and take a gander, will ya?

 

Hot Tips for Homebuying

 

  • Find a realtor

Working with a realtor who will dedicate their time by advocating for you is key. Not all relationships are a good match; the same applies to working with a realtor. Take your time in finding someone that will help guide you in one of the biggest steps of your life! It’s never too early to get the ball rolling; creating a housing plan with your realtor will only prepare you that much more.

  • Saving money for a down payment and other expenses

Savings? Who is she? Saving any money you can towards a down payment will help substantially in the long run. Beyond a down payment, you can expect to pay closing costs (a percentage of what you are financing) and for any inspections conducted in your housing process (such as a general home inspector). So, how can you save? This is a personal big one for me; I know how hard it is to not order takeout or delivery but try to cut down on any excess spending and you will be amazed at how much you can save in just a matter of weeks.

  • Find a lender to get pre-approved

Chat with a few lenders to shop for the best rate. While you’re doing this, it is great to ask any questions you may have in regards to the financial aspects of this journey (they are the experts after all!). If you’re looking for lender recommendations, your realtor will typically have a few local lenders to refer you to.

  • Credit score

Yeah, that one number that just won’t seem to go away is indeed a key factor in this process as well. If you suspect you have any credit score issues or need to raise your score, working with a lender sooner than later is vital. A lender can help advise you towards the right path for success.

  • Ask all the questions. Seriously.

Please, ask away! Whether it’s your realtor, lender or vendor, we would much rather you ask any questions to ensure you have a complete grasp of this process. It is your potential new home and we want you to feel good about this moving forward! Makes sense, right?

These are just some base steps to take as you gear up for getting into the homebuying journey. Homebuying is much more thorough and dialed in to your specific needs once you’re fully invested in it. If you’re feeling ready to dive in, connect with a realtor (like me!) sooner than later. Best of luck y’all, you’ve GOT this!