How to Build a Closing Day Kit

By the time Closing Day finally comes, your brain is likely to be spinning with transaction details, packing and moving logistics and that stack of documents you just signed at the Title office. A helpful thing to add to your to-do list is preparing a simple “kit” that you can bring with you when you meet your Realtor to get keys to your newly minted home. Remember, there (should be) nothing left in the house at this point – not even a roll of toilet paper! So, if you’re planning on hanging out after you unlock that door for the first time as the homeowner, you’ll thank yourself for packing a few functional items.

The best part about the Closing Day Kit is that it’s filled with things you likely already have at your current home.

What you’ll need: 

  • A basket, bin or similar. I used this acrylic bin; it’s a great size and you can use it for organizing after.
  • Trash bags. I like to use recycled Trader Joe’s grocery bags.
  • Dish towels and/or paper towels. It’s nice to have both; paper towels are great when you need to clean up a spilled drink or need a napkin.
  • Toilet paper. Pack one for each bathroom.
  • “Wine glasses” aka cups for toasting. I don’t love promoting plastic (you could of course use glass) but they stack and are compact. If you go with plastic, at least try to get recycled.
  • Wine opener or bottle opener
  • Sage for smudging. We grew and dried our own sage from our previous home, which was really special and surprisingly easy as long as you think ahead.
  • Candles + matches. Not only do they make your new home smell good, but a burning candle helps to create Hygge (Danish/Norwegian word that describes cozy comfort)
  • Bluetooth speaker for similar reasons. Music creates nice texture when entertaining and can help to establish memory milestones. Similar to when you hear a song and it triggers nostalgia.
  • Anyhting else that feels special that fits! For instance, a crystal, momentos, a photo, etc.

 

When we got the keys to our home, we invited our closest friends over for a toast and a hang. We met the neighbors, we gave tours and we toasted to a new season of life in our sweet, new home. It’s one of my favorite memories to-date.

Big thanks to my friend, Cressa, who made her own Closing Day Kit and shared it with me the day we met to deliver keys to her home.

 

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

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

PLANNING

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

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

PRICING TO SELL

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

BEGIN THE HOUSE HUNT IN EARNEST

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

HAVE A PLAN B

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

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

Janelle Freeman, Broker at Living Room Realty

Janelle Freeman, Realtor (@janelleisrealestate) | Instagram

 

 

First Time Homebuyers, from Handshakes to Hugs.

I had the pleasure of meeting Jon in early Autumn of 2022 at a wee condo in SW Portland while hosting an open house. It was a lovely condo: very modern, floor to ceiling windows, two levels, 700 square feet. The downside being the many pet restrictions, and a high HOA. The $360,000 price tag looked good; however it didn’t quite work for Jon. Fast forward about six months later, and they were ready to begin in earnest as first-time homebuyers. Off to a coffee date we went where I had the pleasure of meeting Kevin, talked shop, made a plan, and we began. After talking to a lender and exploring neighborhoods around the city, they were seeing just how much home they could buy.

And then…we found THE one.

With Jon and Kevin, it was discovering that by doing their research, planning ahead, and getting all of their dogs in a row, (only because they have four of them, it couldn’t be ducks, and I couldn’t resist.), they landed this gem of a house. Instead of a 700sqft condo with the teeniest patio, they closed on their first, nearly 2,000sqft two-story house in the Montavilla neighborhood, 1940’s floor to ceiling windows included! It also has an enormous and private backyard for all their doggos.

This happened it seemed in a blink of an eye. (Another reason why it’s SO, SO important to prepare). When I got the call that they were ready to go, we immediately began to plan our house tour. It was so much fun! Only one day of touring several houses before we found THE house. Newly price reduced and it was within their reach. Of course, they weren’t the only ones who loved this house, and we competed with multiple offers. That’s often how it goes with price reductions, or corrections as we say. They drum up buyers to act. And act and win we did!

Prepare, my friends, prepare! The preparation for owning your first home takes time, patience, and sometimes a strong constitution. With every client I meet, I advise them to do the research, while I help guide them along the way. Get your advocates together, whomever that may be, whether it’s your bandmate, therapist, barista, pal, family, your people! Talk about it. Get excited about it! You’re about to take the plunge into homeownership, on to the adventure of building equity. Then find your cheerleaders/master negotiators – your LENDER and your AGENT. Once all of that is in order, the house hunting begins in earnest, and life changes completely. It’s an exciting ride first-timers!

Janelle Freeman, Realtor (@janelleisrealestate) • Instagram photos and videos

 

The First Time Homebuyers 💕
THE House!
1940’s Floor to Ceiling Windows!

Just Sold! Heavenly Home in Happy Valley

Tim and Emily are wonderful return clients who sold their house with us last month. They received two months of rent back from their buyers to find a new place to call home. After only a week, we came upon this beautiful home on a lovely cul-de-sac in an even lovelier neighborhood in Happy Valley. It features 3 beds, 2.5 baths and nearly 3,000 sq ft of space. They’ll have tons of room in their backyard with a salt water hot tub, rock terrace, and plenty of greenery. The day after finding it, we got them pending, and now they are even able to close early. Congratulations, Tim and Emily! This new home of yours is darling. Thank you, also, to Liz Ellis at Redfin who represented the sellers!

New Beginnings & Rosy Richmond Retreats

My clients, Andrew and Erina, currently reside in Seattle and are expecting their first child together soon. They also just closed on this lovely bungalow in SE Portland! Erina is a Portlander by birth and when we found this gorgeous home it was love at first sight for them both. Immediately they were a little overwhelmed with the competitiveness of the market and weren’t quite sure if they could write a competitive offer. Lo and behold, the listing agent followed up with news that for the SAME reason, other prospective buyers hadn’t written offers either! The sellers were left with no offers and encouraged my clients to write.

By the next day they were pending, and now here we are at closing! What a wonderful twist of fate. My clients love it so much, they’re purchasing half the furniture with the home. It helps that the sellers are master woodworkers and made the furniture themselves! Once again, a huge congratulations to Andrew and Erina on their perseverance, patience, and poise throughout this process. I’m so excited for them to begin this new chapter with a beautiful home and family on the horizon. Special thanks to Elizabeth Wren Shiffler at Urban Nest PDX for facilitating the sale! 

Just Sold! Timeless Tree-Lined Estate

My client just sold this sumptuous North Plains estate!  It sits on 40 verdant acres of pristine, woodland space. Endless amenities here including a gated, tree-lined entryway that leads to a paved double-wide driveway and 3-car garage. Inside, the home boasts 5,532 square feet with 4 bedrooms and 5 bathrooms. You’ll find open, coffered ceilings with thoughtful detailing throughout. A large kitchen with double-doored pantry leads to a formal dining area. Enjoy breathtaking views from the large back deck, perfect for outdoor entertainment. A 96X120 equestrian facility with oversized stalls and a large shop are on site. Ample riding trails on bordering BLM land are sure to pique the interest of your inner adventurer. Just minutes from Hillsboro/Portland and Intel. Congratulations to my client on this big sale, and thank you to Tran Rogers at RE/MAX for bringing the buyer! What a fantastic home.

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Just Listed- Sweet & Serene Scenes in SE

Kick back and relax in this wonderfully open home in Brentwood/Darlington. Once inside, you’re greeted with a warm and charming feel right away. Enjoy high vaulted ceilings and beautiful oak floors in the bedrooms and Brazilian cherry in the main areas. Lovely large living room adjacent to quaint kitchen and dining area. Grand master-suite plus 2 spacious bedrooms, 2 baths round out the 1,849 sq ft floor plan. The private fenced backyard has a gorgeous patio and plenty of room to roam with greenspace and designated garden area. Last year, the current owner grew gallons of fresh fruit right from home. The neighborhood is quiet and residential, perfect for a sunny stroll on a warm spring day. Don’t miss this beautiful SE gem!

Room to Move

When we had the opportunity to talk with Chelsea and Jose to hear their story of why they wanted to buy a home, we felt that this couple was very special. They bought a mobile home a number of years ago and with hard work they were able to save up enough to buy their first home now that their family now growing.  Being in a specific school district was top priority for them, so we honed in on that school district and began their home search.

For Chelsea and Jose they were in contract a few days after getting pre-approved.  However, the home that they got in contract turned out to have a number of big ticket items that they did not feel was wise to continue to pursue. We loved how pragmatic they are and how they are able to make wise decisions for their family without much back and forth.

 

So we set out again looking for their home. This time the home they chose ended up being desired by multiple buyers. So, they had to compete. We found out that the other offer in hand was higher than theirs. Chelsea and Jose wrote the sellers a letter that really helped the seller’s connect with them and in the end the seller decided to go with their offer and saw that they were quality people and would take good care of their home.

It felt so good to relay the good news and to help them get one step closer to having their new home. Then the inspections came around, and there were a number of items that needed attention. In order to work together as a team we were able to find vendors to do the work and get paid from the proceeds of the sale which worked for the sellers and Chelsea and Jose.  Jason went out to the property multiple times during the transaction to make sure the work was being done correctly and that Chelsea and Jose had a good advocate for them so that when they moved in the re-roof and and sewer line were finished and that there were no loose ends that they had to take care of.

It was a very good thing that Jose and Chelsea asked for a re-roof, because when it was being done the roofers discovered that there were 3 layers of roof that needed to be stripped off before the new roof couple be put on.

We are so excited for you all and hope Rex loves his new backyard!

 

Want to get pre-qualified during the times of Covid-19..?

There are a few tips  I would like to leave current Portland, Oregon residents  who are ready to buy or sell their homes, during the times of Covid-19.

 

Best 7 Questions to ask your Lender :

  1. Are you a direct lender ?

      2. Are you a correspondent lender or broker?

     *Please note, in my opinion, direct lender is usually best.

      3. Are you a local lender?

      4. Is the loan going to be fully underwritten?

      5. What are the current interest rates and can I lock in my rate?

     6. If my parter is affected by COVID-19, could I still qualify?

     7. Be honest, disclose your current working / employment situation with lender. Ask if it is better for you to pre-qualify for the loan individually?

     **The lenders are the experts who will give you the most realistic feedback regarding your ability to pre-qualify.

This video is created by Steph Noble, an amazing local lender here in Portland.

There are some mind- shift changes occurring within the current Real Estate Market during the time of Covid-19.

See link below for the full Video from Steph Noble, Local Portland Lender, Guild Mortgage.

 

 

Stability of interest rates, April 2020

The Feds interest right now is to solely  stabilize the mortgage baked securities for interest rates.

The Feds will increase and decrease their buying based off what is needed to keep the interest rates stable.

Their commitment is to keep rates stable.

The buying of mortgage backed securities is so powerful right now , it is out impacting any other economic factors.

Typically, when we have good or bad economic news, there is an impact to interest rates, the Feds buying mortgage backed securities is out-weighting any of those other economic factories regarding interest rates.

–You may have heard that the Feds are pulling back on what they are buying ?

Even with them pulling back as needed, to keep rates stable,  currently, the feds are buying back double what is being produced.

 

If you have any more questions or comments please reach out to me or Steph Noble directly!

https://www.livingroomre.com/agents/meline-khachatourian/

 

 

The Perfect 10 in Concordia!

PERFECT 10 IN CONCORDIA  $535,000

6027 NE 27th Ave, Portland, OR 97211

Welcome home to the perfect Certified Earth Advantage Concordia home, featuring a rare energy score of 10!  Vintage inspired details mixed with today’s modern conveniences make this property stand out from the rest. 
The main level’s open floor plan makes for easy entertaining with big picture windows letting it plenty of sunlight and a cozy gas fireplace.  The kitchen is the real centerpiece of the room here with granite countertops, stainless steel appliances, and all the bells and whistles.  A big slider takes you out to the low-maintenance backyard with a private feel.  Upstairs, you’ll find all three bedrooms and a convenient laundry area.  The master suite is easy to love with it’s large walk-in closet and beautifully appointed en suite bath.  
This home is sustainable, energy efficient, and features quality craftsmanship in an unbeatable location.  Walk or take easy transit to Kennedy School, New Seasons, Alberta Park, restaurants, and more.  
3 bed | 2.5 bath | 1606 sq. ft.
MLS# 19502375 | Taxes: $6973.80 Lot Size: .06 Acres