What I Learned From Painting My House

I just spent the last three months living, breathing, and dreaming Exterior House Paint.

When we bought our house in 2013, it had recently been painted… in a shade hubby and I could not stand!  For 10 long years, we waited and saved up to paint our house with a color that made us happy.  Here is the ‘Before Shot’ (with a few new paint color samples added):

Being a real estate agent means I get to see all the new trends and colors as part of my job.  In my 20 years of real estate, I’ve learned a lot about what makes a great home improvement choice work, and why bad or even mediocre choices can fail miserably, and alienate the Buyer audience you are trying to capture.

But I was still daunted by the possibility of choosing my own house paint colors.  Obviously, it’s a super important aspect of your home’s curb appeal. And it’s a relatively big ticket item so mistakes are not an option.  So I spent weeks online reading blogs, watching videos, and taking trips to our local paint stores.  Here’s what I learned:

The Internet Really Does Come In Handy!

Start by doing your research.  You can find videos and articles on pretty much any subject you need.  Here are some of the searches that helped me: “Best Exterior House Paint Colors”, “Exterior House Paint Trends for 2024”, “Best White Exterior Paint Colors”, & “Exterior House Painting Tips”.

The Paint Companies’ websites also have pretty good Color Tools where you can “try” different colors on a house photo that is provided (you can choose from different styles and find one that’s close to your home’s style).  These features never seemed to work with a photo of our particular house, but there usually is an option to upload a photo of your own home.

Learn About “LRV” – Light Reflective Value

What is a bright and energetic color inside will likely blind you outside or completely wash out because of the sun’s reflective power.  This is especially important if you are considering a white or light exterior color.  You’ll want to pick colors with LRV ratings in the 70s or low 80s for most whites or light neutral shades.

If your house is in full sun, you’ll be shocked at how much different the color is outside.  Consider where you live.  A wooded shady lot will allow for higher LRV shades without the squint factor.  The choices you’ll need to make in full dessert or coastal sun, however, will be very different!

Go Outside

Not only will the sun dramatically increase the brightness of light shades, but the amount of light and how it plays on your house can totally transform the color you are considering.  When choosing your colors, only view them outside – even at the paint store.  Step outside and try to put them in an area that mimics the light or shade quality at your house.

Get the peel-and-stick panels so you can move them around your home at different times of the day, and view colors in different locations.  You don’t want to rush this process.  You may love a chosen paint color in the early morning, and hate it that same afternoon.  Your house in the rain will be a different experience than in the height of summer!

And then it’s important to consider the color of your roof, walkways, and driveway to ensure it all works together.

A nice gentleman at Benjamin Moore told me that even the peel-and-stick panels viewed outside tend to be a little darker than what will be the final result, because when you make larger batches of the paint color, the coloring is more spread out and the result is less saturated paint compared to the small amount used for the sample panels.

He was right.  The final effect of our whole-house color is lighter than what the sample panels led us to believe.

Stalk Your Neighbors!

Some folks can visualize better than others. I needed to see examples in real life before I could commit, so we spent hours driving around town looking at house colors!  Once you get a few ideas, head out in your city and you’ll find some colors you love.  It’s also super helpful to see the mistakes you want to avoid.

We knew we wanted a light house color to help reflect the heat in summer since we don’t have central A/C (that LRV comes in handy when it comes to heat).  Additionally, the front of our house is always in shade, so we planned on painting our house a really warm, or even a little “dirty” white.  While out driving in our neighborhood one day we drove past a gorgeous color on a house very similar to our day-light basement ranch.  AND, it faced Northwest, just like our home does so we knew the color would play similarly on our home.

I drove past that house whenever possible.  I took detours so I could drive by the house and just “happen” to catch the owners outside.  One day, I finally did and stopped to ask the homeowner about the color.  He was super sweet and went into the garage to get it for me.  You never know – you could meet your new best friends this way.

Don’t forget about the Trim

This is one of the first rules I learned about house painting in real estate:  The trim can make or break your finished paint job.  You can make a seemingly horrible body color or really boring body color look amazing with the right trim color.  And, conversely, I’ve seen so many awful trim colors just ruin a perfectly good house body color choice!

Don’t forget to go back outside and spend the same amount of time researching and evaluating the trim colors you are considering.  Once you narrow down to a few, your painter will likely put them up for you to get a sense of how things look together in your light.  Fun fact, the trim color goes up first so a LOT of patience is required before you can get a true sense of how things look together! But when the house body color is done, and all the taping and masking is finally removed, you’ll get your “ta-da” moment in a big way!

Doors:  Garage & Otherwise

There are lots of designer rules about door color – especially garage doors.  And usually the “rules” are right.  But not always.  How’s that for clarity?

So the general rule about color for your garage door is that it should be the same color as your house body color in most cases.  The reason is that you don’t want to call attention to your garage, right?  Especially if your garage is up in front of your house or underneath your front door.  You’ll likely want a more seamless flow and can use the trim color to create interest and definition.  More importantly, you want the focus to be on your front door area!

But in our case, our house is just a really wide rectangle.  It just goes on and on from side to side.  Additionally, our garage is separated from the house by a breezeway and is also slightly recessed behind the home.  So after a lot of driving around and looking at garage door paint choices, we decided to break the rule and paint our garage door the white trim color.

In our case, it worked!  It would have been too much of a good thing with endless house body color.  We needed a little visual interest over on the garage side of our property and color variation was all we had (given the lack of architectural interest on that side of the property).  My point here is, try to understand the rules about color and paint choices, and then know when you need to break them for the individuality of your particular property.

And the front door color?  Well, that’s the really fun part!

Most of the rules go out the window here and you get to pick something that brings you pure joy!  Small doses of color give you a lot of room for expression.

Ugly Old Front Door (Super Adorable Daughter!)
Pacific Blue Loveliness
Check out the new Rejuvenation Fixture & Hardware! Oo-la-la…

Then there are the side doors and back door colors to choose. Can you see other doors from the street or front path?  Do you need to coordinate with your oh-so-special front door color?  Actually, that may be a post in and of itself!

Breezeway Garage Door
Breezeway Side House Door
Breezeway Art Gallery Cuz Why Not?

But wait – there’s more!   There’s the back of our house which has quite a bit of foundation above ground.  In some places, almost half of the total structure height is concrete foundation so we were left with one more paint color choice (and yes, it started to feel endless at this point, and yes, the back of the house is in full sun!):

Before Foundation Painting (you need sunglasses to look in full sun – see what I mean?)
Back of House After Foundation Painting

And now the grand finale – It’s done!  

We love it.  In sun, in rain (see how the color changes?) – it’s perfect.  Our neighbors think so too…


Pro tip #1:  When looking at all those gorgeous paint colors on your computer or phone screen, make sure your screen brightness is turned up (yup, learned this the hard way)!

Pro tip #2:  If the pressure of picking the perfect colors is too much for you, and funds will allow, hire a designer!  It will save you money in the long run.

Kari McGee

NE Portland: Where PBR and Pinot Noir Share the Fridge

Ah, Northeast Portland. Land of artisanal everything (cheese, pickles, tacos, and beer!), vintage clothing stores to get your planet-friendly recycled clothing fix, and enough beards to make a Viking jealous. But beneath the surface of all things ‘Portlandia’, lies a neighborhood teaming with creativity, a burgeoning food scene, and a surprising amount of affordability.

NE PDX is the juxtaposition of the inconic “Portland Four Square” as the backdrop for a fixie bike with a basket overflowing with local farmer’s market produce. Here, you’ll find dive bars serving PBR alongside trendy gastropubs boasting Pinot Noir pairings. Don’t worry, though, there’s plenty of good old-fashioned fun in places like the Alberta Street Pub,  happy hour dinners at Dekum Triangle’s neighborhood gathering spot Breakside Brewery, or getting your spin on at the new disco roller skating rink in the old Lloyd Center Marshall’s Department store (yes, the ice skating rink is still there too!).

And speaking of the Lloyd District.  There are big plans for a revamp of this southernmost pocket of inner NE Portland that include an exciting reimagining of the old Lloyd Center Mall Space and surrounding neighborhood.  Field Operations, the firm that designed the High Line, the wildly popular park built on an old elevated train line in Manhattan, will design the open spaces at the new Lloyd Center. About 20% of the site is designated as greenspace which will remove the “go-around” necessity created by the concrete barrier of the old mall structure.  Instead of focusing ‘in’ as the old mall did, the new plan creates an outward-facing and interactive neighborhood space.  Maybe the best news yet is that Portland baseball fans still might have a chance at realizing the dream of a Major League Baseball team and stadium in Portland.  While the Lloyd District master plan doesn’t currently include a baseball stadium, it doesn’t rule it out either (If you build it, they will come…).

And Did we mention the food? From Alberta Street’s long-standing favorite La Bonita serving up some damn fine Tacos al Pastor, to Cason’s Fine Meats where you can bring home something delicious to grill for your summer backyard BBQ hang, to Bamboo Sushi & Zilla Sake for some of the best sushi in town, and inspired local restaurants with menus that change seasonally (DameExpatriate & OX  are some notable standouts), there’s something to tantalize every taste bud.

So, if you’re looking for a place with a pulse, where you can catch a live band playing in a neighborhood hangout one night and spend the next morning choosing from more brunch spots than a human has the right to walk to (and run into 12 of your favorite friends and neighbors on the way), then Northeast Portland might just be your perfect match. Just be warned – you might develop an uncontrollable urge to lose your car, make a lot of art, and (of course) become mildly surprised by nothing, not even that guy in a kilt on a double-decker, 2-story bicycle.

Sellwood Cuteness Alert!

This delightful, updated Craftsman could be yours in one of Portland’s most popular neighborhoods: Sellwood!

Offered at:  $892,000

4 beds | 2.1 baths | 2507 sf  (2250 above ground!)

5000 sf lot

Light-filled living room with charming leaded glass accents opens to a lovely formal dining room.  Chef’s kitchen with quartz counters, butler’s pantry, breakfast nook, and induction range.  A bedroom/den/office and sweet updated powder room (with room to expand!) round out the main floor.

The full-height, second level features a spacious primary suite, laundry closet, a second full bath, two additional bedrooms, and a fun bonus space for hobbies, lounging, exercising, or general rumpus room activities!  Warm fir floors on the main, and cherry hardwood floors upstairs.

Many great updates including paint (interior and exterior), plumbing and electrical updates, new kitchen windows, new interior doors, new A/C, and a new 50 gal water heater. Peaceful backyard with grape arbor, mature asparagus, raised beds, patio, and a new fence.

Blocks to New Seasons, shops, restaurants, waterfront, and all the cuteness Sellwood has to offer! Walk Score = 94, Bike Score = 99

Want to see it?  Call us – we’ll hook you up!

 

Erika George & Kari McGee

 

 

Why We Love Villebois!

Jim and Leslie have finally made the move from the Seattle area (bub-bye horrible big city traffic) to the lovely Villebois neighborhood in Wilsonville, OR!

Villebois, French for “village near the woods,” is a Wilsonville community inspired by traditional European, pedestrian-oriented villages. Initial development began in 2004 and continues with a new phase that is adding a trio of mixed-use buildings in the Village Center at the heart of the community.  The Villebois Village Master Plan envisions a vibrant mixed-use Village Center comprised of residential, office, or retail spaces.

With its numerous parks, green spaces, community centers, and outdoor pool, Jim and Leslie knew they had found their new neighborhood almost instantly.

After losing out on their first offer in this development, Jim and Leslie were ready to pounce when the next home with a primary suite on the main floor, hit the market. Given all the inventory they toured in the meantime, they were super educated about home values in the neighborhood and came in strong for this wonderfully maintained and updated corner lot property.

We’re seeing lots of competition for homes with strong age-in-place attributes all over the greater Portland area and this property was no exception. Here’s to Leslie and Jim who are now the proud owners of a sought-after Montclair floor plan home, in lovely Villebois.

Looking for your very own age-in-place home in a cute-as-a-button area?  Call us.  Whether you are searching Forest Heights, the Pearl District, SE PDX, or Wilsonville, we can help you find a great match for your needs.


Kari McGee & Erika George

The HouseLove PDX team at Living Room Realty

503.349.544

team@houselovepdx.com

 

Portland’s Fixer Audience is Alive and Kicking!

The surprise news of late 2021 and early 2022 is that Portland’s fixer audience is indeed alive and well.

One of the dominant messages of the real estate market for the last few years has been that most Buyers are hesitant to take on properties that need work.   So when we listed this lovely but “untouched” home for sale in December, we were expecting a somewhat limited audience.

13 offers and $75,000 over asking later, we are here to tell you that the holy trinity of real estate: “Location, location, location” still has the power to encourage Buyer HouseLove for just about anything as long as the location is strong!

In this case, there truly is a lot to love about this charming Laurelhurst Bungalow.  So it hadn’t really been updated since 1968 but the Sellers put a new roof on prior to listing the property to help protect the home during our wet winter season, and get us through an appraisal.  The floor plan lends itself perfectly to expansion and/or improvement, and you just can’t go wrong with the high-quality ‘bones’ you get with this charming bungalow. 

And the gorgeous block – considered by many to be one of the best in the neighborhood, really was the star of our show.

As realtors, there’s something so deeply satisfying about helping a beloved neighborhood home, that’s had a full and wonderful life, transition to its next owners.  We know that exciting and wonderful things are in store for 822 NE Hazelfern Pl.

  • Listed:  $525,000
  • Sold:  $600,000
  • 13 Offers
  • 4 Days on Market

If you have a Portland Fixer to sell we would be honored to help you!  Feel free to call, text or email.

Kari & Erika

www.houselovepdx.com

 

 

 

 

 

What’s Going on in the Portland Condo Market?

Harrison West Building in Downtown Portland

You may have heard that the Portland condo market is a bit slow these days. While this may be true for the big picture of Portland Condominium real estate, there are some interesting developments in today’s market.  We’re actually finding that the current condo market is nuanced and that the above statement doesn’t really reflect what many Condo Sellers and Buyers are experiencing in Portland right now.

The bright spots can be found at the extremes of the price range.

Let’s start with the low end of the market in south and west Portland (the areas where most of Portland’s traditional condos are located).  In the $350,000 and under price point 225 units sold in the last six months and 35 units are currently in pending status.  The median number (the median takes out the outliers compared to the average) of days on market for sold units was 36 days.  In the six-month period from May 2021 through October 2021, 90% of the listed condo units were sold.  In our recent experience, many of these condo Sellers are even experiencing multiple offers and escalating sales prices – elements not typically seen in Portland’s more recent condo market.

Compare this to the $350,000-$650,000 price point where 31 units are currently pending and 291 units sold in the same May through October 2021 six-month period.  The median number of days on market was 53 and while more units sold in this price range, only 80% of the total listed inventory was sold in this timeframe.  Buyers definitely have a lot to choose from in this price range.

In the upper end of the price point above $1,000,000, the last six months have seen the largest year-over-year gains in the condo market.  We’re seeing a 10% gain over the same 6 months (May to October) in 2020.   While this noticeable increase likely just makes up some lost ground that occurred in 2020 during Covid, not all price points have had nearly the same upswing.  With 5.1 months of inventory to choose from – more than double the inventory in other price points,  there is a lot of competition for sellers.  It seems, however, that there there is an active and hungry Buyer audience that is driving the 48 strong, closed sales in this timeframe (just over 50% of the listed properties sold in this timeframe).  Additionally, the median days on the market of 51-days isn’t too shabby for this traditionally slower-selling high-end inventory.

Given a large amount of competition in all price ranges, Buyers can be picky and wait to “cherry-pick” the best properties.  Condos with spectacular views, balconies, deeded parking, recent cosmetic upgrades, storage spaces, and nearby popular neighborhood amenities such as restaurants, are all important features for today’s condo buyers.

As a result, it’s important that motivated Condo Sellers realistically consider the strengths and weaknesses of their unit compared to the competing active inventory and price it right!

Effectively marketing the strengths of your unit also is imperative in this competitive condo market.  Hiring a savvy real estate broker who is experienced in highlighting a property in its best light, will be an important factor in a Seller’s success.

If you are a condo seller and are trying to decide if the time is right to sell your property, give us a call.  We are happy to review your situation and provide you with the information you need to make smart decisions about selling your property.

 

 

Just Listed: Sweet SE One-level with Backyard Sanctuary

3805 SE 28th Pl, Portland OR 97202

Offered at $462,000

Adorable mid-century one-level ranch on a large, level lot. This professionally landscaped, sunny backyard (complete with 3 steel, raised garden beds) will be your SE sanctuary! Updated kitchen, newer plumbing (2018), and new interior paint. Blocks to Powell and Kenilworth Parks, Hopworks Brewery, or head south to Ship Ahoy & C Bar on Gladstone.  Clinton eateries, People’s Food Coop, Target, and year-round Clinton Farmers’ Market are all less than a mile away.

This property location has a Bikescore of 84 and a Walkscore of 78. You will love this terrific Creston-Kenilworth location!

Check out our Property Website for more details!

OPEN SUNDAY,  11/7/21, from 1 – 3 p.m.

2 Beds | 1 Bath | 912 sf

Lot Size:  5000 sf | Taxes:  $3996.64 | ML #21571809

 

I Feel Pretty in NW!

You know the “look”?  The light and airy, I-feel-pretty, carefully styled Boho-Beautiful look that many Buyers tell themselves they really don’t want.  It’s just no big deal, they say.  “It’s just staging and we can do it ourselves”…  And then you walk into a house that has the look and everyone just melts?

Our buyers weren’t really sure what they wanted when they started their search for a NW PDX condo, but they were very clear that they didn’t want to do work.

So when we viewed, this gorgeous, recently remodeled home that had not only the look, but the location and the floorplan our lovely clients wanted, it was a done deal.  Those light, seafoam green kitchen cabinets, floor-to-ceiling windows and soft white and grey tones combined with warm wood hues in the bathroom create the perfect zen effect.  Touring this home felt like visiting a spa.  How lucky our clients are to be able to actually live here…

Not too shabby for a first home, if we do say so ourselves…

Just Listed: Chic Alberta Arts NW Contemporary with ADU!

4857 NE 13th Ave.  Portland OR 97211

Offered at $945,000

Detached, spacious NW Contemporary home with permitted ADU for multi-generational needs, home office, or for renting! Open gourmet kitchen with quartz island, pantry storage & butler’s pantry. Windows galore for all-season natural light, high ceilings, custom cabinets, and built-ins. Private exterior side entrance and an interior staircase to the lower level allow for flexible use of the ADU space.  The fun Alberta Arts neighborhood is the perfect location for this live-in income-producing property. King Farmers Market, Alberta Co-op, Gumba, Proud Mary, Zilla Sake, Bye & Bye, and Salt & Straw are all right here!

Check out our 3D Self Guided Tour and Property Website for more details!

OPEN SATURDAY, August 21, from 1 – 3 p.m.

4 beds | 3.1 baths | 3067 sf

Lot Size:  .09 acre | Taxes:  $9591.71 | ML #21204670

 

 

 

 

 

Sale Fails Can Be a Buyer’s Best Friend!

If you are a buyer or a buyer’s agent in 2021, you just may come to love the words SALE FAIL.  Buyers are being put through the wringer this year but we’ve got a few tricks up our sleeves in this competitive market and one of them is to hawk the multiple listing service for properties that have gone back on the market after a sale fail!

Properties that have had a sale fail can be easy prey for a smart Buyer because these frustrated Sellers usually are very motivated to just get it done!  Plus, Sellers often have copies of the previous Buyer’s home inspection reports and while all that property information can be a bit daunting right out of the gate, it also allows Buyers and their agents to quickly access the major issues of a property, make a plan, and hit the ground running.

Enter Mike and Beverly.  Like most first-time home buyers, Mike and Beverly had taken it on the chin for more than a few offers. Mike and Beverly just wanted a house.  Mike and Beverly honestly would have been happy with pretty much any house with four walls at one point!  Mike and Beverly are handy and were willing to do work; a lot of work.  How could it be so hard?

And then we saw those gorgeous words ‘back on the market’, followed closely by the holy grail:  ‘sale fail’ for 15215 SE Harrison St.  We knew we had a shot if we moved quickly.  We requested the inspection reports which Mike and Beverly reviewed with a contractor.  That gave them the confidence to be able to waive the inspection contingency in full and bam, Mike and Beverly were under contract on a house that not only had four walls-  It was lovely!  15215 SE Harrison had a big sunny yard, a spacious, hip mid-century floor plan, and warm hardwood floors.  There is definitely room in the spacious, level lot to build that ADU for Mom, and to create community in a way that only homeownership affords.

We are so happy for Mike and Beverly who never lost hope, never gave up, and patiently waited for the right home to appear.  We are so in awe of the privilege that we were given to help these two wonderful folks find their first home.

To learn more about how to use sale fails to your advantage, and other Buyer tricks we have up our sleeves, give us a call!

Kari & Erika:  HouseLovePDX

971.322.6612

 

 

 

Finding Success in a Tough Market

There are lots of tough, “school of hard knocks” buyer stories out there right now, given the very strong Sellers’ Market we’ve been experiencing since the dawn of 2021.  But even in this seller-oriented market, we’ve been able to find success for many of our buyer clients.

Jim and Beth had been pondering a few different options for some changing family housing needs in their extended family.  They spent the better part of 2020 exploring and evaluating the market in and around Portland but nothing seemed quite right.  Then a house hit the market in January, just blocks from their current Sellwood home and it. was. perfect.  Clarity achieved!

Don’t get us wrong!  Of course, there were multiple offers and of course, Jim and Beth had to offer well above the asking price in order to win the home.  But all that evaluation time in 2020 helped Jim and Beth quickly understand the realities of the market.  They acted fast and were able to make informed decisions. 

On top of that, we were able to negotiate some rare pre-closing repairs at the sellers’ expense, and effective communication with the listing agent made for a smooth transaction… (well, except maybe for that small part about literally running for their cashier’s check, the day before closing!).  These were all good things for Jim and Beth who are working full time with small children at home, 24-hours, every single day.  Yup, whispered nap-time real estate conversations have become our specialty  (actually, we think whispered real estate conversations are super fun and calming so don’t be surprised if we start whispering if things start to get intense)!

Helping our clients evaluate and explore real estate options is an important part of our job.  We know that some time to thoughtfully explore and consider, spent in advance of your deadlines, can prove invaluable in the long or short run!

We’d be happy to help you explore your options and discover what makes the most sense for you.

Kari & Erika:  HouseLovePDX
971.322.6612 | 503.349.5449
www.houselovepdx.com

 

Quick to the Draw wins SW Mid-Century Stunner!

Congratulations to Tom and Kari for closing on this beautifully updated midcentury house in Vermont Hills.

Tom and Kari have been looking to move “back” to Portland for some time to be closer to family and to take advantage of the natural beauty of the Northwest. This home fit the bill on all fronts with an option for one-level living, amazing mid-century elements (two corner fireplaces), great neighborhood trails and streets for daily strolls, and serene forest-like views from almost every window.

 

Tom and Kari recognized that this was a special house right away and didn’t mess around when they realized it was going to be competitive to land this house. They were the first offer that the seller received, and they made their terms so compelling that the seller was motivated to act quickly on it. For that reason, while there was some competition from other buyers, it didn’t feel like the “feeding frenzy” that can be so disheartening for buyers. Kudos to Tom and Kari for quickly recognizing that the home was a winner AND for being willing to quickly take action to make it their reality!

Kari and Erika have many tips and strategies to make this sellers’ market work for our buyers. Please call us if you are looking to make a move!

The 2020 Portland Area Surprise Market Takeaway!

Many of the surprises in 2020 have not been fun, to say the least. However, one surprise has delighted us: the success that our first-time homebuyer clients have found in spite of the strongest sellers’ market we’ve seen in our 15 years of real estate! We had multiple-offer success after success for these intrepid, can-do buyers as a result of several important factors:
  1. The big, national cash investor companies halted operations in our area due to Covid-19 and related real estate market concerns. That meant our buyers didn’t have to compete against cash buyers with deep pockets. The absence of these cash investors finally leveled the playing field for first-time homebuyers who generally had only to compete with other financed buyers for the first time since 2013.
  2. Historically low interest rates allowed for more buying power overall, and helped financially “young” buyers overcome hurdles to qualify for a home loan.
  3. Our first-time homebuyers have benefited from our extensive experience in writing offers in a multiple-offer scenario. The sales price is just one of a handful of very important concessions a buyer can make when writing an offer: appraisal support, limitations on repair requests, and other secret-sauce tactics have proved to be very powerful for sellers who are comparing numerous offers.
There are many things we love about our job, but helping people purchase their first home will always be at the top of our list. It gives us so much joy to help folks put down roots, build community, and start to build financial stability for their lives. Our heartfelt congratulations go out to Neil & Caitlin, Sarah & Travis, Flo, Celise (and Kirk!), Hali & Lucas, Kath, Shannon, Jody & Kevin, and David & Mireille, all of whom purchased their first homes in crazy, stressful pandemic-ridden 2020!

Thinking about purchasing your first home?  We’d be honored to help you beat the odds too!

Kari & Erika:  HouseLovePDX

971-322-6612

www.houselovepdx.com

 

Top 4 Things to Consider When Buying a New Construction Home

Yes…  Strong, the pull of new construction is.

We see this trend over and over again in all kinds of markets. Buyers are willing to spend more money on brand new homes, compared to what the market generally seems to bear, for very similar re-sale homes. The force is undeniably strong for homes that are cosmetically on-trend, sparkly new and touched only by the skilled hands of a construction worker!

But, there are many factors to take into consideration when considering the purchase of a new home.

 

Top 4 Things to Consider When Purchasing New Construction

  1. Builder contracts are not the same as general, state-approved real estate contracts and offer few protections for the buyer.
  2. If you are financing your purchase, your lender will most likely require an appraisal.
  3. Depending on the real estate market in your area, you may be responsible for purchasing many items that traditionally are included in homes that have been previously owned.
  4. You often can find older, re-sale homes in excellent condition with more square footage or larger lot sizes for the same price or even less money.

Builder Contracts

Builder contracts are meant to protect the builders’ interests. This is understandable, especially if the property has yet to be built and the builder is taking on most of the risk and upfront costs for building. Buyers don’t pay the builder for the home until it is ready to occupy and the sale has legally closed. That means a builder is on the hook for paying for the property even if a buyer terminates the transaction.

Having said all that, in most new construction sales contracts, buyers do not have the traditional protections (called Contingencies) for their earnest money deposit, that are included in a standard state-approved real estate contract. These contingencies generally include the ability to terminate (and receive a refund of your earnest money deposit) for reasons such as: repair issues that come up in the inspection period, or from a property disclosure statement provided by the seller, or for financing issues that are outside of the buyers’ control, including a low appraisal. Putting a deposit down on a new construction home generally means that money will go to the builder, regardless of what may occur in the sales transaction.  No take-backs allowed! 

Lender Appraisals

If you are financing your purchase it is likely that your lender will require an appraisal that proves to the bank the price you have agreed to pay for the home is supported by current market data for the area. In many cases, new construction will be in areas with a lot of empty space and not a lot of similar housing stock. Additionally, if you are purchasing one of the “best” homes in the development, such as a corner unit townhouse, or a unique home that backs to green space instead of other homes, there will be little support in the data given the unique, yet immensely valuable qualities of the property.

If an appraiser can’t find data in recently sold, comparable properties to support your sales price, then you may end up with a low opinion of value from the appraiser. Given the lack of a financing contingency in most builder contracts, that means you could be responsible for the difference between the low appraisal and the sales price you agreed to pay if the seller/builder will not negotiate. If that isn’t possible, you may need to terminate your sales agreement and lose your earnest money. Needless to say, this is not a fun situation for any buyer.

Unexpected Expenses

The most common negative we’ve heard repeatedly from our new construction buyers has to do with all the unexpected expenses they had neglected to factor into the purchase of their home.  This includes kitchen appliances, a washer and dryer, air conditioning, shades, curtains or blinds for all of those gorgeous new windows, and landscaping expenses. Buyers can be blinded by the bling of quartz counters, custom cabinetry, and pretty bathroom tile but miss the empty spaces where appliances and storage cabinets or shelving should be. Take stock of what is not included in the property and work hard to get those things included by the builder before you sign that contract.

Alternatives to Brand New Construction

Just like a new car, a new house loses some of its sexy appeal, the minute someone moves in. You’ve likely heard about the smart savings a car buyer can access by purchasing a car that’s two years old. The same goes for houses! You can get a lot for your money by purchasing a home built two to five years ago. It’s likely that the previous owner has worked out many of the new construction kinks. You’ll probably end up with all appliances, blinds and landscaping included in the purchase price, and you’ll have a stronger sense overall of how the development has fared in terms of perception and value in the neighborhood. Additionally, there will be less risk of “vacant land” development surprises next door or behind you, or months and months of construction to survive.

We know that there will always be folks who prefer to purchase new construction homes.  The low maintenance benefits and convenience of a house that is everything you want from day one is a beautiful thing! Given the housing inventory shortage in the metropolitan Portland area (and many other parts of our state), we need builders to create new housing for our expanding population. We really understand the need for new, affordable neighborhoods near job creation areas that are outside of the urban centers. We just want you to be educated about what it is you will be signing when you get swept up in the flush of new construction bliss and are given a pen by the very friendly builder’s representative sitting across the desk from you.

Want to know what to expect with a new construction purchase? We’d be happy to guide you through the process! Give us a call.

Erika & Kari

503.349.5449

www.houselovepdx.com

Southeastern Views and a Hot Tub to View ‘Em

Lots of buyers say to us: “We’re going to be so hard.  You are going to hate us!  We are really picky.”.  Now most of the time, buyers aren’t nearly as hard as they think they are going to be.  We think we’re pretty good listeners and find that we can quickly zoom in on what our clients are looking for.  But every now and then we have a search that can take many months, or in Jen and Brett’s case, even years!

You know what?  That’s ok!  We just happen to love looking at houses and it makes us so happy to help folks find their dream home.

Brett and Jen came up with a little “move to Portland” plan a few years ago.  Skyrocketing real estate prices in their CA city had definitely gotten them down.  Jen and Brett also have family in the Portland area and have long wanted to be nearer to their clan.  So a few years ago we started looking at houses with Brett and Jen.  After exploring various neighborhoods in the Portland metro area, they zoomed in on Happy Valley.  Jen’s mantra was to find a house with at least a hot tub (if not a pool or better yet, both) AND a view of Mt Hood.

Jen and Brett’s plan stopped and started a few times, and every time they came back with more money saved for their Happy Valley purchase, the sales prices had increased.  In fact, while prices weren’t nearly as high as their current location, they weren’t seeing the savings they hoped to find in our area, and we definitely weren’t finding that quintessential Happy Valley view-home with a hot tub.

Then Covid hit and all bets seemed off, but once the dust cleared and job security seemed like it might actually be a thing again, guess what came on the market at just the right price?  You guessed it, a lovely home with spectacular Southeastern views and a hot tub in which to soak ’em up!

Of course there were multiple offers but no sweat.  Brett and Jen were ready to pounce and wrote a killer offer that could not be refused.

As we look back at our clients who have had long, start-and-stop searches, we can say with all certainty, that our folks eventually got the home they were meant to have.  Sometimes life just needs to let the dust settle a bit before you are ready to see the one…

Welcome to life in Oregon Jen and Brett.  You have definitely earned this move!

Kari & Erika

 

First Time Home Buyer Appraisal Lessons

We’ve had the most wonderful good fortune to be able to help get an amazing handful of first time home buyers into home ownership these past few months.  While the market has been incredibly competitive, we have had great luck helping our clients get accepted offers in multiple offer scenarios, or on the rare 2020 sleeper property before it gets noticed!

Our latest success story is first time home buyer Flo.  Flo had a bit of a set back when the lender’s appraisal for her loan approval on a new construction home in Hillsboro, came back at a lower value than what she had agreed to pay for the property.  As a result, Florence had to terminate her sales contract on that property.  While the pull of sexy new construction is strong, we helped Flo understand that there likely would be something else out there for her in great condition, but without the tippy-top of the market sticker price one generally finds in new construction.

Sure enough, Flo found a wonderful 2015-built, townhouse style condo in Happy Valley near restaurants, grocery stores and other services that she can walk to.  The property is bigger than the new construction home she had originally decided to purchase and she now has a sweet patch of actual yard out back, another feature that was lacking in her original property.  Like the new construction community in Hillsboro, this resale home also has access to an outdoor neighborhood pool.  Most importantly, the home is in terrific, like-new condition!

We are so happy for you Florence.  We happen to think that Happy Valley is the perfect place for our energetic, gift-giving, eternally cheerful (except after low appraisals perhaps), eternally HAPPY Flo!

 

 

 

Sleeper Properties in a Hot Market?

If you’ve been reading our blogs from years past, you may recall us saying that September and October are some of the best months of the year to purchase home.  Buyers often have leverage at this time of  year when over-priced summer inventory can be found at great prices as sellers become more and more nervous about failing to sell.  September & October tend to be awesome months to find sleeper properties!

Fall 2020

This year however, is a whole other ball game!  While our spring selling season got off to a slow start due to Covid, Portland area buyers are definitely making up for lost time.  It’s been a HOT summer real estate market and that trend is showing no signs of stopping as we settle in to fall.  Buyers continue to value the home buying power of incredibly low interest rates, inventory remains painfully almost non-existent, and our September home buying stats are breaking records!   So are there any buyer leverage opportunities out there right now?  Yes, yes there are if you 1. pay attention and 2. get lucky!

Buyer  Trends

Our very savvy first time home buyers Sarah and Travis definitely got lucky, but also were smart enough to know where to look.  They had zoned in on the Hyland Hills neighborhood of Beaverton as their first choice neighborhood  but given the high volume of traffic we experienced when touring the area homes for sale, it was clear that many other buyers had made the same decision!   Thankfully, Sarah and Travis got lucky in that four new listings hit the market at the same time.  Three of the homes were in remodeled, turn-key condition.  This type of home has a huge buyer audience at the moment and we are in a strong trend of a lack of buyer interest in properties that need work – even cosmetic work.

It was clear to us that showing traffic for the pretty, remodeled homes was off the charts, but the fourth property was sitting quietly, patiently waiting for its new owners.  It was the rare and elusive 2020 sleeper property!

The home was being sold as an estate sale: slightly frumpy, needing cosmetic updates, not professionally staged, and so easy to over look… But oh the exceptional quality of this home!

The park-like back yard, the third full bathroom (so rare for the price point), and the fabulous floor plan all contributed to a property that felt less like a “first time home buyer home” and more of an “almost forever home buyer home”!  Sarah and Travis instinctively knew not to waste time in a bidding war for one of the remodeled properties and quickly wrote a strong offer on what is now their first home.

Nice work Sarah and Travis on snagging one of the elusive 2020 sleeper properties, with no competition!

 

If you’d like some guidance on how to look for those rare 2020 sleeper properties, we’d be happy to assist you!  Give us a call.

Kari & Erika

971.322.6612

Buying a House During an Apocalypse

You’ve all probably heard that a real estate transaction will likely be one of the most stressful events in your life.  But real estate PLUS everything that’s going on right now is… um… well, it kind of feels like living through an apocalypse (and yes I realize that ‘living through an apocalypse’ is an oxymoron).

Cut to Kirk and Celise who had been living a lovely life in London after work carried them there a few years ago.  Then 2020 upended a bunch of stuff for them and Presto Change-O, they came to the Portland area for Kirk’s sister’s (very small camping) wedding, and then bought a house in Hillsboro.  The end.

I mean seriously, 2020 just kinda feels like that right?  Kirk and Celise (and many of you I’m sure) have got to be feeling like they got lifted in the great Wizard of Oz Pandemic Tornado of life, and then were plopped down in Portland just in time to experience the worst Wicked Witch worthy fire season we’ve seen in our beautiful state.  Folks are getting a ton o’ S_ _ T thrown at them fast and we’re seeing big life decisions made in real time minutes before our very eyes.  Kirk and Celise are definitely not alone on this front.

But Kirk and Celise now have shelter in this apocalypse of a year.  They even got their keys a whole 24 hours before the smoke started to get bad in our area.  And they now have a place where they can weather out this storm, and carry on to a wonderful and full life in a new town that will, once the smoke clears out (and the pandemic is contained), be brimming with hope and opportunity once more.

It’s our job to help you get to your heaven on the other side of your 2020 end-of-days feelings.  And we will do that for you.  We’ve been working real estate for more than 15 years and we’ve worked all kinds of markets and conditions.  And while global pandemics and the worst air quality in the world are definitely new to us, we are carrying on and helping people find shelter in their storms, just like Kirk and Celise, and their cutie-patootie daughter.

Stay Strong Oregon.  We will get through this.

Kari & Erika

971-322-6612

www.houselovepdx.com

 

In their own words!

Normally we use this blog to tell our clients’ stories.  Our buyer clients Jody and Kevin just closed on their SE Portland home.  Just before closing, they emailed us a thank you note, recapping their story in their own words.  Simply put, it is so touching and authentic, there is no way Kari and I could tell their story any better than they already have.  So here is Jody and Kevin’s story, in their own words:


“Kevin and I are incredibly lucky to be able to work with both of you. Thank you very much for all that you do for us to make this dream come true. This means the world to not only us, but also our families, friends, and the many doctors in Washington D.C.
Four years ago, we moved to Washington D.C. for Kevin to attend The George Washington University School of Nursing. After nursing school we decided to stay in D.C. to get work experiences (Kevin in healthcare and mine in teaching). We bought a small house (similar to this Reedway property). Things were going amazingly but sadly my health declined. I was on life support for 10 days and remained in the hospital in D.C. for 2 months.
Ever since December 2018, I have been in various recovery programs in D.C. working with 9 different teams of specialists at the hospital. The progress that I have made so far is incredible. We thought I would need to be on oxygen for the rest of my life. Thankful I got to return the oxygen supplies back in April (perfect timing with COVID).   
Somehow we were able to continue to do work on the house while I recovered. Surprisingly we were able to complete many major projects by the time we sold it. 
Often people move because of kids or jobs. In our case it was my health. While making decisions to return to Oregon, COVID arrived. With my health dealing with respiratory issues and Kevin working in the ER, we knew that we had to live in separate homes. At the same time we sold our house while having to live apart. We continue to do this while closing on this Reedway house.
The situation at OHSU hospital is much better than the hospital in Washington D.C. Buying this Reedway home will mean that we will finally be able to live in the same home again. We are super excited! Everyone has been counting down the days with us. We plan to live in this house for a very long time. It is going to be surrounded by families and friends. Hopefully things will be safe to celebrate with many people who have been waiting for this moment with us. 
It is not yet the final day but we would like to give many thanks to the two of you for making this dream possible. Being alive and able to continue to share a life with Kevin is more than I could possibly ask for. But being able to have a house in Portland will be beyond our world. Although the teams of doctors in D.C. no longer work with me, they continue to check on weekly bases. They know about this Reedway house. This is beyond what they could have imagined. They truly believed that we made the right decision to return to Portland. 
Thanks a million for all your hard work and for sharing this journey with us. The two of you are an amazing team!

Thank you Jody and Kevin for sharing your story — it means the world to us and is an inspiration to all!  Stay safe and healthy — we know you can expect years of happiness and good fortune in your new home!!
Kari & Erika

Just Listed — Dapper Woodstock Craftsman

This remodeled Woodstock Craftsman will complete you! 

Stunning historic woodwork in formal entry, living and dining rooms.  Gracious wrap-around porch with a view of the west hills. Gourmet kitchen with large cook-top island and high-end appliances opens to a sweet deck and private backyard.  Super flexible floor plan includes an option for a master on the main with adjoining bathroom and a second bedroom which could also be an office, den or nursery. Fully dormered second floor is flooded with light and includes two bedrooms, a bathroom and a bonus “hangout” space.  Huge finished basement with full bathroom, exterior entrance and storage galore is a perfect rec room, media room or potential income producing ADU. New windows and skylights throughout.

Fully fenced back yard has new exterior deck and back patio already wired for a hot tub. Brand new driveway in front for easy off-street parking.  High Home Energy Score of 8 due to new windows, whole house insulation, and high efficiency appliances.

Prime Location — Just blocks to Woodstock Park, Trader Joes and other great shops and restaurants.

And, while social distancing requires us to limit in person viewings, we have SO MANY virtual ways for you to view this beautiful house!  Check out our Video Tour , our 3D Self-Guided Virtual Tour and Property Website.

Boots on the Ground!

We often tell the heart warming stories of our “beat-up” buyers who, with grit, fortitude and time, finally close on a wonderful new home that was just meant to be. This time, we’re going to talk about the opposite (except for the ‘meant to be’ part)! You’d be surprised by how often this actually happens…

Our out of state clients, Don and Nancy, just closed on a fabulous unit at the Strand Condominiums on SW River Dr. It took a mere 38 days to complete the cycle from their first (and only) viewing of the unit, to picking up those keys! And that was with a few pesky holidays sprinkled in.

We pride ourselves on superior service for our out-of-area “armchair” buyers. With tools like our detailed property videos, computer screen sharing meetings, conference calls, and FaceTime meetings with inspectors, you can do some serious buyer due diligence from the comfort of your current location whether it be Texas or Tajikistan. All you need are our boots on the Portland ground!

Looking for your perfect Portland Pad but need to do it from the comfort of your out-of-area armchair? We’ve got some damn fine boots (and the ground)!