Tag: Mel Marzahl

8 Things to Know About Buying and Selling a Home at the Same Time

Posted on by Mel Marzahl

Selling your house and buying a new one at the same time can be a daunting task. It can be especially daunting when interest rates are high or inventory is low. But, with the right agent, planning, and approach, you can successfully navigate the market.

Here are 8 things to know to help you sell your house and buy a new one at the same time:

1. Work with a real estate agent.

Working with a knowledgeable and experienced real estate agent can help you navigate the market and ensure a successful sale and purchase.
As your realtor, I will help you price your house appropriately, market it effectively, and negotiate on your behalf. I also help you negotiate a fair price, terms, and repairs or closing credits if needed.

2. Get Pre-Approved for a Mortgage First.  

Before listing your home, obtain a mortgage pre-approval to determine your budget for the new home. Shop around for competitive rates.
I have a list of trusted lenders I’ve worked with and will provide the information they may need about your current home. If you’re moving to another state, I’ll connect you to an expert agent in that area from my national network.

3. Know the market.

Before listing your home, it is important to know the local real estate market. Knowing the market will help you price your home appropriately.
We’ll review a report of comparable properties, market data, and pricing strategy at your listing consultation. We’ll discuss how quickly it is likely to sell as-is, with some repairs, and/or with staging. Pricing appropriately is important to help you sell on your timeline and make the most of your investment.

4. Time your sale and purchase carefully.

Timing is key when it comes to selling your house and buying a new one at the same time. Ideally, you want to sell your house before you buy a new one. However, this is not always possible and comes with the logistical challenges of finding a place to stay between sales.
I’ll help with the logistics to make your move as smooth as possible. For example, I can negotiate for you to stay in your home for additional time after your sale closes. This is called a rent-back period and is relatively common and often free. If you need to buy a new home before selling your old one, speak with me and your lender about your options.

5. Have a backup plan.

Even with careful planning, there is always a small chance that something will come up. Sales fall through and other things can happen to cause delays.
I strategize your backup plan with you. Having a rental property or temporary housing booked in case you need to bridge the gap between selling your old house and buying a new one is helpful.

6. Consider renovation and staging.

You should always consider renovating or staging your home. This always results in getting you a higher price and quicker sale. A fresh coat of paint, new fixtures, and decluttering can go a long way in making your house more attractive to potential buyers.
When you choose to list your home with me, you’ll be given design and repair advice in your budget. I’ll provide a to-do list to prepare your home and references to contractors, stagers, cleaners, and movers.

7. Prepare to negotiate.

In a high-interest rate market, buyers may be more hesitant to make offers. Prepare yourself to negotiate on price and other terms to ensure a successful sale and purchase. Keep in mind that both parties want to make a deal, so be flexible and open to compromise.
We’ll review each offer thoroughly. I’ll navigate you through the negotiations to ensure you’re getting a fair price, making reasonable concessions, and meeting your goals for the sale.

8. Make a Strong Offer.

When you’re selling first and then buying, you might have challenges to overcome on the buying side such as finding a home at the right time, making contingent offers, getting your offer accepted, and closing in time to move from one home to the next.
Writing a strong offer that will get accepted in a multiple-offer situation is key. I’ll work with you to craft the perfect offer within your budget, on your timeline, and with terms that will stand out to a seller and their agent.

 

Selling your house and buying a new one at the same time can be challenging, especially in a high-interest rate market. But with the right planning and the help of your realtor and lender, you can successfully navigate the process.

If you’re thinking about making a move, I can help. Give me a call or text to get started or you can read my bio, and testimonials, or find me on Instagram to learn more about what it’s like to work with me.

What’s up with Cosmetic Fixers?

Posted on by Mel Marzahl

 

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

What are they?

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

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

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

What to look for

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

Is a cosmetic fixer right for my budget?

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

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

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

Is buying a cosmetic fixer right for me?

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

 

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

Old Home Gets Love it Deserves with New Owners

Posted on by Mel Marzahl

Annabelle and Fabiana contacted me to help them sell their 70s, updated ranch in Hillsboro, and also to buy their next home. I knew selling their home would be a breeze with a few cosmetic updates. (See their listing here) My only concern was finding them their next home with such low inventory! As sellers, they got to reap all the benefits of the strong seller’s market we have right now. Especially in the suburbs! They got multiple over asking offers and closed at 9% over their asking price! As buyers though, they were in the tough spot of having to compete for the few great homes on the market.

Selling and Buying

We navigated this sell-buy process by asking anyone making an offer on their home to please include a free 30-day rent back. This means that all the potential buyers would allow Annabelle and Fabiana to stay in their home an extra 30 days after closing so that they would have more time to find and close on their next home. Every offer we received included a rent-back of some kind. Annabelle and Fabiana were happy to have the flexibility, and the extra cash from the great offer, to make their move.

We toured a few homes, but with so few on the market that matched what they needed, our search was actually relatively short. They lucked out by finding a home that had just come back on the market and making an offer right away. It was in an unusual location on an unimproved street, so that limited their competition as well. The home has more space than they originally thought they needed, and the location works great for getting to work and school. Their offer was accepted right away and we moved forward with the purchase!

Old Home Getting the Love it Deserves

The home that Annabelle and Fabiana chose is over a hundred years old and perched up off the street on a little hill. It had gotten some updates done here and there but it is in need of some bigger updates. During the inspections, they found a number of items that needed repair immediately. Luckily, the sellers were willing to work with them on those things. The sellers had a new roof put on the home and garage before they closed, and they also provided a credit for the cost of a new sewer line. Since I was able to sell Annabelle and Fabiana’s home for so much more than they were expecting, they were left with some extra cash to make additional repairs!

Annabelle and Fabiana have big plans to rebuild the supports for a sagging, enclosed, back sunporch and to repair a beautiful, covered front porch. They also plan to install new windows on the main level replacing cracked and dry rotted single-pane windows. They will also update some electrical items for safety, and update the bathrooms and appliances to modern standards. The house has a certified front yard habitat, and they are looking forward to maintaining the garden and growing their own fruits and vegetables, something they did at their previous home as well.

This 100 year old home is in great hands with its new owners. I saw how beautifully they cared for and maintained their previous home, so I’m sure this one will be just as well-loved. I am so happy for Annabelle and Fabiana and can’t wait to see how they give this home a new life!

Congrats Annabelle and Fabiana!

Long Search for First Home Comes to an End

Posted on by Mel Marzahl

Anika and Todd have been searching for their first home for over a year. It has been a long journey for them to find their first home. The toughest part was narrowing down what they really wanted and needed and then finding that within their budget. It was made even more challenging because of the increasing home prices, changing needs, and, of course, Covid.

Changing Needs and Wants

We started the search by looking at homes close-in SW Portland that needed some work. Anika and Todd have a great eye for design and what is possible with a home. We talked about the potential of lots of dated and fixer homes we toured. They researched the cost of putting in new kitchens, baths, and flooring, but eventually crossed a fixer home off their list. They decided that living in a project wasn’t for them, especially once Covid came and they and their two girls were all working and learning remotely. Managing and living in a remodel while teaching and working in it too sounded much less feasible.

We also looked at three-bedroom homes to start and decided that the family would need more space. With the greater need for a dedicated office, a four-bedroom, or three-bedroom with bonus room became a necessity. The extra room would serve triple duty as an office, playroom, and guest room for the day when the family can eventually come to visit!

Overcoming Challenges

With the changes in the family’s needs and wants, came changes in price expectations and location. We had to overcome multiple challenges with Anika and Todd’s home search. The first being that they are first time buyers without the huge cash reserves of many others looking in their price range. Because they weren’t buying your typical “starter home” Anika and Todd were up against other buyers who had more cash and were buying their “move-up homes” with equity from previous sales or other sources of cash. This made it tough to compete against the large down payments of other buyers, once we found houses they were interested in.

Their second big challenge was overcoming the reality check of housing prices and location. Over the year we were searching, housing prices increased by almost 8% in the parts of SW Portland we were looking. Also, when we started the search, we were looking at 3 bedroom cosmetic fixers in close-in SW. They were able to find this type of homes to look at fairly frequently. By the time we were making offers a year later, our search had changed to 4 bedroom move-in ready homes. Unfortunately, this type of house was over budget in the areas we were looking in so we had to expand our search further out to include the suburbs, places Anika and Todd originally had ruled out.

Writing the Winning Offer on the Perfect Home

After a year of searching, changing needs, overcoming challenges, Anika and Todd found an amazing home in Beaverton. It has three bedrooms plus a fourth bedroom/bonus room with interesting nooks perfect for a multiple-use space. We had to see it the second it came on the market, and after touring it, they knew it was the right one. They made a very competitive offer with great terms any seller would like to see. I spoke with the agent multiple times and developed a report with her. When we learned another offer was higher and willing to buy the home as-is, Anika and Todd decided to increase their offer to their max budget. They knew they could regret not doing so if they lost it.

The agent called me to discuss because their increased price put us neck and neck with their other offer best offer. We were told the only difference was that the other offer had a slightly larger downpayment and the buyers were willing to buy the home as-is. We chatted about why Anika and Todd weren’t comfortable with as-is, and while they truly didn’t expect to find any major issues, they couldn’t risk taking on a large, unexpected repair since they were putting their savings into the downpayment.

The sellers ended up accepting their offer anyway. I was thrilled to hear that the main reason they went with Anika and Todd’s offer over the other was my communication with the listing agent. Developing a good relationship with the other agent, being communicative, honest, and upfront while protecting Anika and Todd’s interests stood out to her. I don’t know who the other agent was, but I know they also wrote a very strong offer and were tough competition! Being a part of the deciding factor in my client’s offer winning out over another, slightly better offer felt great and I was so happy to relay that news to Anika and Todd.

A Long Search Comes to an End

Anika and Todd are now in the process of moving into their new home as I write this! The escrow process was a bit bumpy toward the end, with a closing delay, but we all got through it and both sides ended up happy. The inspection report was the cleanest I had ever seen, and the home needs just a few minor repairs and is ready for their personal touches. Anika and Todd are thrilled to finally own their first home. They worked really hard to make this happen for their family, and I couldn’t be happier to see them moving in.

Congratulations to Anika, Todd, and their girls! I can’t wait to see how they make their new house their home.

First-Time Buyer Snags Centennial Charmer

Posted on by Mel Marzahl

I’ll start off by saying that the market in Portland is tough for first-time buyers right now. Honestly, it’s tough for all buyers right now! We have the lowest inventory we’ve ever had, so buyers are struggling to find the right property, and when they do, they have to fight for it. Centennial is one of the outer east side neighborhoods that are still affordable with home prices averaging $341,000 and rising rapidly. Home values in Centennial have gone up 8.81% in the past 12 months!*

My buyer, Isak, was in the same boat as a lot of other buyers out there. Some wonderful clients of mine who had also just bought their first home in Lents last year referred him to me (thank you!). Isak was ready to take advantage of the great mortgage rates and buy his first home. He is smart about it as well. His plan is to get a roommate or two to help offset the mortgage and possibly keep it as an investment property one day.

Along the way, we found, made offers on, and lost out on a few homes. We were up against investors with large cash reserves, sellers who were reluctant to work with buyers on necessary repairs, and multiple other buyers writing offers just as competitive as his. Isak took his time finding the right home and wasn’t one to jump on the first home that came around. He was lucky enough to have to move right away, so wasn’t in a time crunch to find something. This worked to his advantage. We were able to look at lots of homes that could work but ultimately didn’t feel ‘right’.

When we came across ‘the one’ Isak knew it was special. This 3bd/2ba home in the heart of Centennial checked a lot of his boxes. The house has an extra room that could be made into a 4th bedroom, music room, or office. It also has a basement for projects or storage and a two-car garage with a separate workshop area. To top it off, it sits on a large lot with a big front-yard filled with giant Douglas Firs providing shade and privacy. The house itself is cosmetically dated, but overall in great condition with a functional layout. The previous owners lived there for over 30 years and took excellent care of it. This is perfect for Isak because he can focus on the fun and creative updates.

We close today, and I’m so excited to hand over the keys to his home. Congrats Isak!

*Source: NAR RPR (Realtor’s Property Resource) https://www.narrpr.com/

S O L D – Peaceful Southwest Haven

Posted on by Mel Marzahl

Pending in 2 days!

This gorgeous 150sqft attached home sold quick! The seller, Marisa, had updated the home a few years ago and kept it very well maintained. She loved living in this home but was ready to buy her “move-up” house with her fiance Danny.

Marisa and Danny were fantastic sellers to work with. They gave me a virtual walk-through of the home and a list of upgrades they had done so I could provide them with the most accurate pricing, staging, and repair recommendations. They also knew what their budget would be for touch ups and pre-listing prep.

Importance of Listing Prep, Photos, & Video

I brought in a team of staging consultants who were able to work virtually. They are professional interior designers who were able to look at photos of the home and provide Marisa and Danny recommendations for furniture placement and design choices. Marisa and Danny dived right in, spruced up their home, and collaborated with the designers so when photography day came around, the house was sparkling clean and perfectly staged to show off its features.

The photos, video, 3-D tour, and floorplan came out great! With the coronavirus affecting everyone, it is extra important to show every inch of the house in as many ways as possible. When buyers have a floorplan, 3-D tour, as well as great photos and video, they are able to see if a home might be the right fit for them, before even stepping in the door.

Virtual Open House and Social Media

One powerful new thing I have added to my marketing tool belt is the ‘virtual open house.’ I set a specific time to do a video tour the home while streaming live on Facebook. This gives buyers and agents the chance to see a “hosted” walk-through of the home while being able to ask questions in real time. It also leaves me with a recorded video tour of the home which I can share with other agents and interested buyers. It’s lo-fi compared to the 2 minute professional video I’ve hired a pro to make, but it makes taking a live tour of the home more accessible. Many buyers like that the longer-format tour as well because I will talk about the upgrades and features of the home as I walk through it. Here is the link to the virtual open for Marisa’s lovely home. 

Pending in 2 days!

All of their hard work preparing the home to look its best, paid off! We received a great offer on the first day, and more came in the second day. They ended up with a solid over-asking offer with favorable terms, and a second very similar offer in back-up. They just closed today, and negotiated an extra two weeks in the home to do a bit of work on their new place (closing tomorrow) before they move!

Congrats Marisa and Danny!

Treehouse Dreamhouse

Posted on by Mel Marzahl

I dare you to find a better treehouse in Portland. Ok, ok, us Portlanders are pretty creative, so I’m sure they’re out there. But you have to admit this treehouse is pretty sweet.

 

My clients Louise and Tom certainly thought so because they fell in love with the treehouse right away! More importantly, however, they fell in love with the gorgeous craftsman home on a double lot on the border of Woodstock and Eastmoreland that sits in front of it.

Louise and Tom just closed on their dreamhouse today! The home they purchased is complete with treehouse in the backyard, secret speakeasy storage space in the basement, and a bottle of homemade cider brewed on site by the previous owners! This home certainly has a history, but it checked a lot of boxes on Tom and Louise’s list.

They are originally from the UK, and often have visitors stay with them, so they wanted to make sure they had plenty of extra room. They also love to entertain and wanted a layout with a nice flow for parties. They also have a beautiful 9 year old Bernese mountain dog named Freya, who has lived in an apartment for most of her life. They wanted to make sure she had a nice yard to play in too.  They got their wishes! The home they bought has 3 bedrooms, an office, and a partially finished basement with a great kitchen and outdoor space for entertaining their guests. They have big plans to make the treehouse into a tikibar and I hope they invite me to their first luau!

Congratulations Louise and Tom! You two were so much fun to work with and I wish you all the best in your beautiful new home.

 

 

Buying a Home Remotely

Posted on by Mel Marzahl

I’ve never met Vijay and Pooja in person, they live in Boston and bought their new SW Portland home 100% remotely. Today we are closing on their new home in Hayhurst and I’m reflecting on my time working with them. They found me online almost a year ago. Since we started we have been completely virtual, connecting over phone, text, email and video.

A year ago Vijay called me and told me he was interested in a specific home. I gave him some information and learned he and Pooja lived in Boston. I offered to do a FaceTime tour or send a video of the home he was interested in. I started taking videos of homes they were interested in and texting him a few minutes of video at a time. “This is the front” I’d say as I showed them the sidewalk, the street, driveway and front porch. I’d send that short video and then start filming the next one by going through the front door… “And here’s the entrance…” “Now we’re going into the living room…” “look at these amaaaazing hardwood floors (I said while kneeling down to get a good shot of the pretty floors)…”

Over the past year of off and on home shopping with them, I’ve refined my skills as a videographer. Since I started, my short video clips via text have evolved. Now I provide longer video tours posted to youtube with a private link for my buyers. I invested in a gimbal, a tool which stabilizes my camera, so I can take better footage and focus on showing off the home. I’ve helped many other remote buyers too! About 30% of the clients I helped buy homes last year were partially or completely remote during the time we worked together.

All this working and filming remotely has seriously paid off. I am grateful for the experience I gained helping Pooja & Vijay, and my other remote clients. With the pandemic going on, my ability to address the unique needs of a remote client has helped me pivot and grow my business during this time of hardship. I now offer my buyers who can’t meet in person the option of a video tour or a live virtual tour with me on FaceTime, Skype, Hangouts, Zoom, Facebook and more! I also host live virtual open houses on my Facebook Page for many Living Room Realty listings.

Vijay and Pooja will be receiving the keys to their new home via Fedex tomorrow and will travel out here to see it for the first time in a few weeks. I am thrilled to be finally meeting them in person but bummed I won’t be able to give them a big hug or round of high fives just yet. I know they are excited too, and we’ll find a way to celebrate together, distantly.

Congrats again Pooja and Vijay!

Good Karma, Great Home

Posted on by Mel Marzahl
Me, Aaron, and Carol after he finished singing his closing documents!

The first time I sat down with Aaron was the first week of June, 2019. He told me about his goal of buying a house and how he wasn’t sure about the process just yet. More importantly, he shared with me his motivations.

Aaron told me about his little brother who he had taken in just about a year prior. He is in middle school and adjusting well since his move up from TX. Aaron also told me about how he really wanted to move his mom up from TX to live with him to so he could live with her and make sure she is taken care of.

At this point I’m practically in tears about what a selfless and caring guy Aaron is. BUT THEN, he goes on to tell me about how he is into community building. He helps all these different people out in small and big ways all while working 10 hr or more days 5+ days/week. (I mean… if anyone deserves a home to call their own, it’s Aaron, right?) We continued to connect over a love of classic cars, he loves working on old Cadillacs and other cars. My dad has been restoring old Corvettes forever and my husband designs and builds custom motorcycles.

He hadn’t decided to hire me just yet, but I would be damned if I didn’t get to help him achieve his goals! I told him I would be honored to be his agent and would do whatever I could to help him get there. I explained how Living Room Realty stands by and truly lives out our values. I thought they would resonate with him and I think they did. Last, I asked if I could put him in touch with a great mortgage consultant and he agreed.

Aaron worked really hard after this meeting. I connected him with Carol Flanagan at Guild Mortgage and she assisted with him from that point on to repair and build his credit. He listened to her advice and by about Thanksgiving he had a pre-approval letter in hand. He qualified for the Oregon Bond Program, an FHA loan that provides down payment assistance to help buyers like him get into the market and start building equity.

Aaron and his girlfriend, Kjiersten, outside their new home!

Once he was ready, we went out and saw just about every home on the market that met his criteria in about 3-4 days. We wrote an offer right away on a turn-key ranch in SE that checked all the boxes. While there was another offer practically the same as his, he won out after bumping up his price just enough. I was also able to negotiate just over $2000 in closing credits, along with a home warranty paid for by the seller. We closed 35 days later, which was  7 months and 3 days after I first met with him.

Watching him sign his closing papers was emotional because it reminded me of why I love this job so much. Aaron worked really hard to get to the signing table. I am so proud of the work everyone did, especially Aaron, to get him the keys to his new home.

Congrats Aaron!

Tell Me What You Want (What You Really Really Want!)

Posted on by Mel Marzahl

What do you really really want? Are you a buyer trying to find a home that that zig-a-zag-ahs all the boxes? Are you looking for a unicorn of a house?

What about you, sellers? Do you want to sell your home, but really need certain things? There’s price (obvs), but what if you need to find a new home before you can move? Or a fast closing?

Buyers – Tell me what you want

Buyers sometimes beat out the competition for their dream house because they made the highest offer, but sometimes it’s more about the terms. Alyssa and Stephen had a very specific home they were looking for, in a few specific neighborhoods. They loved some of the older neighborhoods in the West Hills and Beaverton, and were looking for:

  • a split level home
  • with a short commute to work
  • energy efficient
  • has been updated but without taking away the original character of the home
  • newer windows
  • a shop
  • a big yard for the dog
  • an open layout
  • an office area separate from the living space
  • main systems of the house to be updated, but not completely remodeled because they want to put their personal touches on it

After missing out on one because we didn’t have our pre-approval ready yet, we went out to tour a few houses. On our second tour, there were four houses on the list Well, the one they said they were least interested in seeing, turned out to be the unicorn! Whoo Hoo! The only problem is that once they made the decision to write an offer we learned that this home checked a lot of boxes for many other buyers too.

Sellers- What do you really really want?

Alyssa and Stephen wanted this house. It was the one for them! So, what did we do to beat out the competition? Well, we knew that people would be offering a little over asking, so we did that to match nearby comps. But how to make us stand out? I gave the listing agent a call and talked it over. My goal was to help them write an offer the sellers would be happy about and didn’t cost Alyssa and Stephen more than necessary.

We learned that the sellers hadn’t found their next home yet, and may need to stay in the home after closing. This worked out just fine for Alyssa and Stephen because they were in no rush to move. They were renting and were going to need to break their lease anyway, so waiting a little while was a-ok with them. We offered the sellers a free month in the house after closing so they could have time to find their new home. To make it extra sweet, we also offered to let them stay longer than a month if needed, and just asked that they cover the cost of Alyssa and Steve’s rent if they decided to extend.

Zig-a-zag-ahhh

The sellers happily accepted and Alyssa and Steve didn’t pay more than they needed to and got the house of their dreams.Their flexibility in timing is what ended up sealing the deal for them! They just closed on the home, and learned that the sellers have an accepted offer on on their next home, so they may not need to extend their stay after all. 🙂

A little communication goes a long way when you’re buying and selling. Tell me what you want and need and I’ll look for the common ground with the other side. Finding out what everyone really really wants and learning how to make all sides happy is fun, sometimes tough, but rewarding!

Alyssa and Steve sign for their new home!

Congrats Alyssa and Steve! I can’t wait to see what you do with your new home.

First Time Home Buyer, Future Investor

Posted on by Mel Marzahl

When I think about the story of this purchase, I realize the center of this story is not the charming Montavilla ranch. This story is about my client, Russell. He is a first time home buyer, arborist, future Portland real estate mogul, and all around cool guy to know.

Me and Russell at the signing for his first home!

I met Russell when my neighbor recommended his tree company and was immediately impressed with his knowledge and passion for his work. I hired him for a job at my own home, and for every tree need I’ve had since. He is now my go-to person for all things tree and shrub related and I recommend him to everyone in my area.

I learned about his interest in real estate after he did a few projects at my house. Russell had a very focused idea of what he wanted. He wanted to buy a house he could live in comfortably for a few years. However, his end goal was to eventually turn this house into a rental. He is interested in building wealth through real estate and was ready to start building his portfolio! Russell has an investor’s mindset and an eye for what will make a good rental.

I’m happy to say that after touring lots of homes in southeast Portland, we found one that was perfect! After less than 10 hours on the market, we had toured and submitted an offer on this property. The 2 bedroom, 800 sqft home in Montavilla fits his criteria perfectly. A well maintained, move-in ready home, with easy access to freeways for commuting, within walking distance to shops and restaurants on Stark, an attached garage Russell can convert to a woodworking studio. (One of his talents is making, and teaching others to make, beautiful wooden spoons, butter knives, and serving ware.) The house is also on a spacious lot with room for a garden and, of course, some trees!

Russell in front of his first home!

The sellers accepted Russell’s offer after waiting a few days to review all others that had come in. When writing his offer, he put his best foot forward because he knew this was the home he wanted. He didn’t want to miss out on such a great investment so he offered above asking, knowing the home was worth it. The sellers agreed to a small repair that needed doing, but the rest of the transaction was a breeze. We signed the closing docs on five years to the day he moved to Portland, and I couldn’t be more happy for him!

Congrats on your first home Russell!!!