Tag: portland real estate

The Growing Opportunity of Midterm Rentals

Posted on by Will Sing

Midterm rentals are properties rented for more than 30 days but less than a year. They are gaining attention as a smart investment strategy for homeowners and investors. These rentals have become more popular in recent years because they can bring in good money, even in today’s challenging housing market.

What Are Midterm Rentals?

Midterm rentals fall between short-term rentals (like Airbnb) and long-term rentals (leases for a year or more). These properties are rented for months at a time, often to people who need a temporary place to stay but not for just a few days. Midterm rentals became even more popular during the pandemic when many cities put rules on short-term rentals.

Who Stays in Midterm Rentals?

Midterm rentals work well for:

  • Traveling Medical Staff: Nurses and healthcare workers often need a place to stay for a few months while working in different cities.
  • Workers on Temporary Projects: Construction workers, consultants, and other professionals who travel for work prefer staying in midterm rentals over hotels.
  • Families Trying Out a New City: People who want to move but aren’t ready to buy a home might rent a place for a few months to see if they like the area.

Why Invest in Midterm Rentals?

Midterm rentals can make more money than long-term rentals. This is because people staying for a few months often pay more than those who sign a year-long lease. Plus, midterm renters are usually professionals or families, so they tend to take better care of the home.

Unlike short-term rentals, midterm rentals don’t come with as many rules and regulations. This makes them easier to manage. Since people are staying longer, there are also fewer cleanings and turnovers, which saves time and money.

What Types of Homes Are Best?

Homes with 1-2 bedrooms are often the best fit for midterm rentals. This is because most midterm renters are single travelers, couples, or small families. A two-bedroom home where one room can be used as an office is also popular. Midterm renters look for places that are comfortable and well-kept, but the home doesn’t need to be fancy.

Where Should You Invest?

The best places for midterm rentals are cities or towns with:

  • Hospitals and Medical Centers: Traveling nurses and healthcare staff often need nearby housing.
  • Big Companies and Construction Projects: Workers coming in for temporary projects look for midterm rentals instead of hotels.
  • Areas with Few Hotels: If there aren’t many hotels or the hotels are too expensive, people will prefer midterm rentals.

Examples of Good Markets: Cities like Seattle and Nashville are popular, but smaller towns and rural areas with business hubs can be great options too. Check if there’s demand by looking at how many hotels or other rental options are in the area.

Is Now a Good Time to Start?

Yes! The midterm rental market is still growing and not as crowded as short-term rentals like Airbnb. Experts say it’s like how short-term rentals were in 2012, which was a great time to get started. By investing in midterm rentals now, you can build experience and get ahead as more people find out about this type of rental.

Tips for Starting:

  • Research Your Market: Know who will be renting and why. This could be medical workers, business travelers, or families.
  • Start Locally: If you live in or near a city with a big hospital or major companies, consider starting there. You already know the area, which helps with setting prices and marketing.

Ready to Explore Midterm Rental Options in Portland?

If you’re interested in exploring midterm rental opportunities in Portland, I’d love to help! Whether you’re looking to invest or simply learn more, I can guide you through the process. Schedule a time to chat with me using my link, and let’s discuss your goals and options.

Septic Tanks Uncovered: Your Guide to Understanding and Maintaining Septic Systems

Posted on by Will Sing

Hey Portland home enthusiasts! I’m here to demystify the world of septic tanks for you. Let’s dive right in!

What is a Septic Tank?

A septic tank is essentially a personal waste management system, a great alternative to the public sewer. It’s a passive strategy to separate floatable matter and solids from the wastewater that exits your home. The system comprises the tank itself and a drainage field. The tanks come in various sizes, accommodating different occupancy levels based on their storage capacity.

Maintenance: The Key to Longevity

A well-maintained septic tank can last a long time, requiring cleaning every 5-7 years and annual filter maintenance. It’s not just about longevity; it’s about fostering an environmentally friendly and cost-effective waste management solution.

Pros and Cons: What You Need to Know

While septic systems are eco-friendly and generally more affordable than sewer lines, they come with responsibilities. You need to be mindful of what goes down the drain to avoid system clogs and ensure regular maintenance to prevent drainage issues.

Inspection Insights: What to Expect

During a home transaction involving a septic system, it’s vital to locate, clean, and inspect the tank. This process, which can involve various costs, ensures the system is functioning correctly and helps identify potential issues that might affect the transaction.

Facing Issues: Solutions and Costs

If issues arise, they generally involve the tank or the drainage field. Solutions might include installing a new tank or drainage field, or hydro-jetting to improve drainage. These repairs can be substantial, ranging from $10-20+k, emphasizing the importance of a thorough inspection during the home buying process.

Connecting to the Public Sewer: An Alternative

If fixing the septic system isn’t feasible, connecting to the public sewer is an alternative, albeit a potentially costly one, depending on the proximity to the public sewer line.

Conclusion

Understanding the state of a home’s septic system is crucial when buying a home. It’s a significant aspect that can affect your home buying experience, and being well-informed can aid in making the best decision for you.

Dive into the video for a deeper dive into this topic!

Got questions or need advice on septic systems in your home buying journey in Portland? Feel free to reach out at 📞 503-303-0822 or 📧 hello@agentlivinginpdx.com. Let’s ensure your new home’s septic system is not a drain on your resources!

PORTLAND LIFE: GET OUT THE VOTE!

Posted on by Aryne + Dulcinea

Aryne + Dulcinea with Living Room Realty, Portland, Oregon. Aryne Blumklotz, Buyers, Dulcinea Myers-Newcomb, Sellers, aryneanddulcinea.com

GET OUT THE VOTE!

ANOTHER BIG ELECTION IS AT OUR DOORSTEP!
Have you voted yet? You still have time to get your ballot in! And this year’s ballot looks different. Be sure to take some time to read your voter guide which includes information about candidates and measures to consider and vote for. Need some more info? Check out these resources to get you fired up to VOTE!
OFFICIAL BALLOT SITES (DROP OFF HERE)
Willamette Week Endorsements
VOTE 411
Portland Voter Guide

Continue reading “PORTLAND LIFE: GET OUT THE VOTE!”

Portland Oregon Real Estate Market Update for October 2024

Posted on by Lily Ray Wyss

What we discuss:

 

How the current market is full of opportunities for homebuyers.

How timing is everything for sellers right now in the real estate market.

What we can expect from the Real Estate Market this winter.

 

Welp. Interest rates did not see the drop we were hoping for.

We saw a temporary decrease as news hit about a rate drop but then saw rates increase just a week later and continue to fluctuate.

Due to this news, we saw a brief increase in buyer and seller activity.

For home buyers:

In general, we are seeing a lot of opportunities for homebuyers active in the market right now.
While rate fluctuation is making affordability tough, for those buyers willing to act, we are getting some pretty great deals.

Just last week we got some first-time homebuyers under contract on a home in the ideal SE Portland location everyone seemingly wants and we only had to compete with one other offer to secure our client this really cool home with an awesome backyard for well under $600k.

For home sellers:

This market has also been volatile for those looking to sell their home. We actually saw a pretty significant decrease in sold home activity last month, down 13% with just 1,702 homes closing. And inventory of homes shot up to 3.5 months. Meaning homes just are not getting the demand they have had in previous markets.

For future home sellers, the biggest topic we will be discussing right now is timing. Deciding WHEN to list your home will be a big conversation. With the election less than a week away and the holidays fast approaching many are going to choose to pause the sale of their property unless they have an urgent need to sell.

Homebuyers you should take note of this as well. If you see a drastic decrease in new listings this week you can blame the election. And know that while we will see things hopefully pick up again, we will see activity trickle the closer we get to Christmas.

Looking ahead for everyone:

BUT it’s important to note for everyone, whether you are buying or selling, that the market will typically re-energize come January.

Many folks will have selling and or buying a home on their 2025 vision board and often won’t wait till Spring to make those dreams a reality.

And if you are someone who is looking to make a move sooner than later know that the market does not completely shut down this time of year. For home sellers, there are still home buyers out there looking for homes right now, and often they are the most serious. And for home buyers, this market can give you a bunch of advantages while other buyers are distracted by being festive.

Want to discuss your options to make a move before the year is over? Or want to talk about your 2025 home buying and or selling goals? I am here for it all. Reach out and let’s chat.

Let’s connect further, follow me on Instagram HERE.

What You Need to Know About HOAs: A Homebuyer’s Guide

Posted on by Will Sing

What is an HOA?

An HOA, or Homeowners Association, is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents. When you purchase a property within an HOA’s jurisdiction, you automatically become a member and are required to pay dues, commonly known as HOA fees. These fees contribute to the upkeep and maintenance of common areas and sometimes cover utilities like water, sewer, and trash.

The Benefits and Drawbacks of HOAs

Benefits:

  • Reduced Risk Profile: By joining a larger group of homeowners, you’re contributing to the maintenance and exterior updates, which can reduce your individual risk.
  • Community Standards: HOAs help maintain property values by enforcing community standards and ensuring properties are well-maintained.

Drawbacks:

  • Cost: HOA fees can range from as low as $60 to over $500+ per month, depending on the age of the property, size of unit, and the reserve funds available for repairs and maintenance.
  • Control: You may have less control over certain aspects of your property, as the HOA will have rules and regulations that you must follow.

What Do HOAs Cover?

HOAs typically cover the maintenance of common areas, which can include landscaping, pools, and recreational centers. They may also cover certain utilities, though this can vary. For example, in the Mountain Park area, there are separate HOAs for specific building complexes and an overarching HOA for the entire area, providing amenities like a pool and a rec center.

Special Assessments

Special assessments are additional fees that can arise when the HOA’s reserve funds are insufficient to cover major repairs or improvements. These assessments are usually paid on top of your regular HOA fees and can significantly impact your budget. It’s crucial to be aware of potential special assessments, especially if the property is older and may require more extensive maintenance.

HOA Transfer Fees

When purchasing a property with an HOA, be prepared for an HOA transfer fee, typically ranging from $200 to $1,000. This fee can vary widely depending on the specific HOA.

Reviewing HOA Documents

In Oregon, there isn’t a large governing body overseeing HOAs, so it’s essential to thoroughly review all HOA documents. Here are the five key documents you need to examine:

  1. Reserve Study: This document details the HOA’s reserve funds and planned improvements.
  2. Financial Reports: Ensure the HOA is financially stable and can cover future expenses without needing special assessments.
  3. Meeting Minutes: Understand ongoing and upcoming issues, potential rule changes, and financial health.
  4. Governing Documents: These include the rules and regulations, such as pet policies and property use restrictions.
  5. Insurance Certificate: Verify that the HOA has adequate insurance coverage.

Getting Expert Help

While reviewing these documents, consider hiring a company like CID Analytics. They offer a service similar to a home inspection but for HOAs, providing a detailed report on the HOA’s health and potential issues. This service costs around $600 and takes about five business days to complete.

Conclusion

Understanding the role and impact of an HOA is crucial when buying a home. By reviewing the necessary documents and considering both the benefits and drawbacks, you can make an informed decision that suits your needs and lifestyle.

For personalized advice, you can schedule a free strategy session here. Also, check out my Free Buyer’s Guide to help you navigate the home buying process.

Watch the full video on Understanding HOAs: What Every Homebuyer Needs to Know.

Connect with me on YouTube, Instagram, or Facebook!

 

Irvington Four Square: SOLD!!!

Posted on by Veronica Powell

We gave this beauty a little love before coming on the market (i.e. interior paint, gorgeous floor refinishing, updated lighting, etc.) and our efforts paid off with 6 very strong offers all over asking price!  If you’d like to see similar results on the sale of your home, reach out and me and my team of professionals can get to work!

If you’re looking for a house like this, I can help with that too.   Four Square’s are a very desirable architectural style that boast high ceilings and a true second floor (no awkward finished attic spaces!).  These don’t come on the market often, in this price point, and when they do (if marketed properly) are usually in high demand.  I can help you navigate competing offers and get you into your next home sweet home.

More Photos

Veronica Powell

503.936.3575

Veronica@LivingRoomRE.com

 

West Hills Farmhouse: Open House Sat 10/26 & Sun 10/27, 11AM-1PM

Posted on by Veronica Powell

OPEN SAT 10/26 & SUN 10/27

11AM-1PM

This charming farmhouse will steal your heart! Perched on a quiet cul-de-sac, its unique floor plan features a spacious, open-concept kitchen, perfect for holiday entertaining and summer BBQs. The family room on this level features a cozy gas stove, perfect for rainy nights. The charming “flex room” adjacent to the kitchen could be: a playroom? craft room? mud room? home office? You decide! The perfect spot for homework or game nights. A convenient full bath completes this lower level. On the main level, the formal entry leads to a farmhouse-style living room w/shiplap walls and a coffered ceiling. An additional sitting room features a gas fireplace and charming bay window — the perfect spot for a cozy evening or a lazy Sunday morning. Finishing off this level are two bedrooms with adjacent, updated, Jack & Jill bath with new dual vanity and freshly refinished classic clawfoot tub. The upper level features a generous primary suite with full bath and loads of closet space, including built-in shelving and four attic storage spaces, perfect for stowing seasonal items. A charming nook on this upper level could be a home office or a quiet yoga retreat. Pristine hardwood floors, new carpet, new interior & exterior paint … too many updates to list here! See features list. Don’t miss the very rare large flat side yard, ready for your vision: privacy hedge, playground or fire pit. Conveniently located close to downtown, OHSU, shopping and restaurants on NW 23rd, the Pearl, and Multnomah Village. Easy access to Tech Corridor & Nike. Walk to several parks & trails. Top rated schools too!

MORE PHOTOS

The Value Of An Agent – Guiding Clients

Posted on by Jessica LeDoux



The Value of Local Expertise

Expert real estate guidance is essential when you’re learning a new city. You may get to know the city and even understand it well, but it takes time to gain the deep-seated context that a lifetime resident has. The perspective and understanding of a long-time local often come from a broader and deeper well of experience. The same applies to real estate. While we work with people who have varying levels of real estate knowledge, even the most informed clients will encounter unknowns—questions you may not even think to ask unless you’re immersed in the daily flow of research and conversation that comes from being in this business for a long time. In short, there are always things you don’t know that you don’t know.

We want to lead the charge and help you ask the right questions. We want to elevate your questions, dig deeper so you are empowered to make the best decision for you and from a foundation of considering all angles and arriving at a place of clarity and understanding.

Creating a Lasting Connection with Your Home

This is more than a transaction, more than a piece of property, more than an investment. In many cases, this is where you are going to live and create memories. It’s the roof over your head. It’s security. We want to help you protect your investment, but also appreciate how momentous a decision this is and how impacting the right home can be through all the different phases of life. Needs change, but we can help you think through possible trajectories so you can optimize your relationship to your home in the long run.

Celebrating Your Real Estate Journey

Perhaps most importantly, this is FUN. You are approaching a change, a transition, crossing a milestone. We see how huge this is and know it is cause for celebration along the way.

The 85% Rule: Your Key to Overcoming Analysis Paralysis in Home Buying

Posted on by Will Sing

Hey future homeowners!

Ever find yourself stuck in a loop, analyzing every little detail while hunting for your dream home? Well, I’ve got a golden rule to share with you that might just be your game-changer: The 85% Rule. Let’s dive into it!

What is the 85% Rule?

In the home-buying journey, it’s easy to get caught up in the whirlpool of options and details, leading to what we call ‘analysis paralysis’. This is where the 85% rule comes into play. It’s a simple yet fantastic rule to guide you in making decisive actions.

How Does it Work?

The rule is pretty straightforward. When you’re looking at potential homes, aim for one that meets about 85% of your criteria. Yes, it doesn’t have to tick every single box on your list.

Why 85% and Not 100%?

Here’s the thing, finding a home that has 100% of what you’re looking for is like finding a unicorn – it’s a beautiful thought but nearly impossible. Even those who have had their homes custom-built find themselves wishing for changes five or ten years down the line.

Embrace the Imperfections

Remember, it’s absolutely okay for a home not to be perfect. What matters is that it’s perfect for you at this moment in your life. The small imperfections? They are opportunities for you to add your personal touch down the line.

Conclusion

So, the next time you find yourself stuck in the home-buying process, remember the 85% rule. It’s not about settling for less; it’s about embracing a home that meets most of your needs and holds the potential for you to make it truly yours over time.

Reach out to talk further now!

📞 Call Me – (503) 303-0822
✉️ Email Me – hello@agentlivinginpdx.com

Exploring Houseboat Living in Portland, Oregon: Benefits and Drawbacks

Posted on by Will Sing

Houseboat Living in Portland, Oregon: Is It Right for You?

Are you considering houseboat living in Portland, Oregon? If you love the water and crave a unique living experience, houseboat living might be the perfect fit. In this guide, we’ll explore what houseboat living entails, the pros and cons, and help you decide if it’s the right choice for you. Let’s dive in!

What is a Houseboat?

A houseboat is a boat designed or modified to serve as a home. While many houseboats are stationary, some are mobile, allowing for the freedom to move to different docks as desired.

Pros of Houseboat Living

  • Waterfront Living: Enjoy wonderful waterfront views and easy access to water activities.
  • Affordability: Typically, houseboat living can be more affordable than traditional waterfront properties.
  • Mobility: If you don’t like your current location, you can move your houseboat to a different dock.

Cons of Houseboat Living

  • Depreciating Asset: Similar to mobile homes, houseboats usually depreciate over time.
  • Limited Financing Options: Few lenders offer loans for houseboats, and the associated fees can be higher.
  • Maintenance: Houseboats often require more maintenance and upkeep.
  • Ongoing Fees: Expect to pay higher fees, including HOA or mooring fees, since you don’t own the water or land beneath your houseboat.

Is Houseboat Living Right for You?

Only you can decide if houseboat living is the right fit. Here are some factors to consider:

  • Lifestyle: If you seek a flexible, water-centric lifestyle, a houseboat could be perfect for you.
  • Cost Considerations: While upfront costs and ongoing fees can be higher, houseboats can be more affordable than traditional homes.
  • Long-Term Goals: If you’re looking for an appreciating asset, consider condos or townhouses instead.

Things to Consider Before Buying a Houseboat

  • Five to Ten-Year Plan: Think about your long-term goals and whether houseboat living aligns with them.
  • Maintenance Needs: Be prepared for ongoing maintenance and higher costs associated with houseboat living.
  • Financing and Fees: Understand the financing options and the various fees involved in houseboat ownership.

Houseboat living offers a unique and flexible lifestyle, but it’s essential to weigh the pros and cons carefully. If you value mobility and waterfront living, it might be a great option. However, if you’re looking for a traditional home that appreciates over time, you might want to explore other options like condos or townhouses.

If you currently live on a houseboat or have experience with this lifestyle, I’d love to hear your feedback!

Watch the Full Video: Houseboat Living in Portland, Oregon | Real Estate Guide

If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

Navigating Home Inspections in Portland: Your Ultimate Guide

Posted on by Will Sing

Buying a home is exciting, but inspections can be nerve-wracking. To make sure your investment is sound, understanding the inspection process is essential. This guide breaks down what an inspector does, how to read inspection reports, and how to tell major issues from minor ones. Let’s explore what you need to know to approach your home inspection confidently.

Home Inspections: What to Expect

A home inspection is like a comprehensive health check-up for a property. Most inspections are performed by general inspectors who identify red flags in a home’s structure and systems. If needed, they will suggest that you consult a specialist for further evaluation, such as an electrician or plumber.

Think of your inspector as a general practitioner. They look at everything broadly and point out areas that need more attention. For example, they might notice an issue with plumbing, but only a licensed plumber can evaluate the severity and cost.

Common Types of Inspections and Costs

In the Portland area, buyers often encounter several types of inspections. Here’s what you should know:

  1. General Home Inspection
    • Cost: $400–$600 (depends on property size)
    • Details: This inspection covers the home’s major systems and overall structure.
  2. Sewer Scope
    • Cost: $140–$175
    • Details: A camera inspects the sewer line for proper connection and damage. This test helps prevent surprises with sewer repairs down the line.
  3. Radon Testing
    • Cost: Often included in general inspections or available as an add-on
    • Details: Radon is a naturally occurring gas. It can accumulate, especially in basements. Proper ventilation helps keep radon levels safe.
  4. Oil Tank Inspection
    • Cost: $125–$150
    • Details: Older homes may have underground oil tanks. These need decommissioning to prevent environmental risks.
  5. Septic Inspection
    • Cost: Varies; the seller may cover pumping costs for inspection
    • Details: If a home isn’t connected to city sewage, a septic inspection checks that the system works properly.

Common Issues Found During Inspections

Inspections often reveal issues. Understanding what’s critical versus cosmetic helps you navigate this stage smoothly. Here are common findings:

  1. Mold
    • Mold is typical in the Pacific Northwest due to the wet climate. Professional mold remediation can fix the issue, provided the moisture source is corrected.
  2. Water in the Crawl Space
    • This issue can be resolved with French drains and sump pumps. Water damage is serious, so addressing it promptly is key.
  3. Dry Rot
    • Dry rot weakens wood. Small areas can be managed with targeted repairs. However, extensive dry rot requires immediate attention.
  4. Rodent Infestations
    • Rodent problems are fixable. Sealing entry points and setting traps usually solve the issue. The cost can range from $800 to $1,000 over several months.
  5. Structural Concerns
    • Vertical foundation cracks usually mean normal settling. However, horizontal cracks or diagonal ones around windows and doors may indicate a more serious issue.

Key Systems to Evaluate

During your inspection, certain systems deserve special attention:

  • Plumbing: Inspectors will check copper, PEX, galvanized, and PVC pipes. Galvanized pipes, for example, corrode from the inside out and may need replacement.
  • Electrical: Watch for outdated wiring like knob-and-tube, which poses fire risks. Also, check the electrical panel. Older panels, such as those from Federal Pacific, can have a higher chance of failure.
  • Roof: The most common types are asphalt shingles, metal, and clay tiles. Asphalt roofs last 20–30 years, while metal can last up to 100 years.
  • HVAC System: Make sure to check the age and efficiency of the system. A new HVAC system is a plus, especially during Portland’s hotter months.

Negotiating After the Inspection

Inspections often open the door for negotiations. Major issues, like a damaged roof or significant plumbing problems, can become points for discussion. However, don’t expect sellers to cover cosmetic upgrades or major remodels. Those responsibilities typically fall to the buyer.

Final Takeaways

A home inspection report can be overwhelming, but it’s an invaluable resource for understanding your investment. Prioritize issues based on their urgency and importance. Remember, every home, whether new or old, requires maintenance. Setting aside part of your budget for repairs and upkeep can help you manage these expenses smoothly.

Have questions or need help navigating the home-buying process in Portland? Reach out anytime. I’m here to ensure everything goes as smoothly as possible.

For more insights, watch the video: Navigating Your Home Inspection: Key Areas to Focus On

REAL ESTATE NEWS: WHAT BUYERS NEED

Posted on by Aryne + Dulcinea

….RELIEF

It hasn’t been the easiest time to be a buyer. Buyers have been facing high rates, low inventory, new commission structures, and houses that need lots of repairs. In the end, it all adds up to $$$! What buyers need is a bit of relief. And when a brave buyer takes the plunge with a house, the hardest day of the transaction is often the home inspection day. This is often the day when the $$$ needed to move forward on a home seems insurmountable. Having a great buyer’s agent on your side to walk you through negotiating with the Seller is critical. Agents can end up saving you thousands of dollars in the end with great professionalism and negotiation strategies. And really what is it that a Buyer wants? A new place to call home. If you are ready to take the plunge and buy a house, contact us today.

 

Aryne + Dulcinea with Living Room Realty, Portland, Oregon. Aryne Blumklotz, Buyers, Dulcinea Myers-Newcomb, Sellers, aryneanddulcinea.com

Continue reading “REAL ESTATE NEWS: WHAT BUYERS NEED”

Neighbor Drama, and Your Right to Quiet Enjoyment

Posted on by Lita Batho

I have a primary reason for homeownership.  Whether cultivating my garden, decorating a room, or filling my closets with whatever equipment and clothing my life seems to require, I can do so because I have this fancy box, and the land it sits on..

In case you ever wonder why I got into real estate, it wasn’t an HDTV style love of houses! Nope, it wasn’t money either, (although I appreciate and need income in exchange for my services).  I began my work in real estate because I enjoy transactions and advocating for my clients. I am skilled at teaching, negotiating, and setting expectations.  But underneath it all, I love having my own house, and I love the ‘bundle of rights’ that come with it. I believe everyone should have access to this, if they want it.

One of the fundamental reasons people created the concept of property ownership, boundaries, and borders is the need to feel safe and at ease. We need a home base where no one is going to bother you or bug you.  Like needing food, humans also need a safe spot to sleep, and live.

The Bundle of Rights

In real estate, the “bundle of rights” represents legal rights that are yours along with owning property. These include: The right of possession (you get to live in it), the right of exclusion (people can’t come in unless you invite them), the right of disposition (you could sell it, you could rent it, transfer your rights to someone), and my favorite: the right of quiet enjoyment.  This last one means that each of us has a right to enjoy our property undisturbed by others.

The right of quiet enjoyment obligates us to negotiate with neighbors, so that each of our versions of ‘enjoying our property’ don’t infringe on the others’ rights.

The story begins…

Listen to this: when I first owned a home, Portland summers were cooler and I didn’t have air conditioning- I kept windows open at night.  One early evening, I was laying on my bed reading, hearing the faint sound of breeze in the trees, and maybe a distant cricket, when I heard a noise like an air compressor.  I thought, “WHO is using an air compressor at this time of night?” and went to my window to look out.  There, between my house and the neighbors was a newly installed central air conditioning unit. The horror. It was directly below my bedroom window, next to the neighbor’s house which was only about 10 feet from my house. My right to quiet enjoyment was suddenly feeling uncertain.

I stared at it in dismay for a minute, and soon I was talking to the neighbor about it.  The neighbor at that time wasn’t very sympathetic. They said “I want to be cool”  and I said “I want to sleep without that noise going on and off!”  I offered to bring them up to my bedroom so that they could hear how loud it was. Eventually, after various discussions, my neighbor agreed to turn their A/C off after 10pm.  About 5 years later, they moved the whole air conditioning unit to another side of the house so that I wouldn’t hear it. (I was just as surprised when I looked out the window and saw a bare patch of dirt where the A/C unit had been, as I had been when it appeared in the first place).  Years later the neighbor and I laughed about this.  I said, “I’m sorry, I was less flexible in my youth” and she said “I didn’t always see things from others’ perspectives” and we agreed to put it all behind us.

Although this took some time, it was a great outcome.   It took a little negotiation and understanding, and a common goal (we both want to live in peace), but we eventually arrived at a solution that satisfied both of us.

Resources:

A recent episode from the Life Kit podcast focused on neighbors and how to resolve disagreements between them (interestingly, the majority of neighbor complaints in a 2023 study of 11,000 reports in the Seattle area were about weeds).  Key points from this podcast included:

  • Step back for a moment, and wait until you have the emotional bandwidth to approach the issue
  • Get curious: what is it about this issue that really bothers you? What could be going on with your neighbor, and their life? Are there underlying needs or viewpoints?
  • Try to address the issue in person. In person communication will help avoid misinterpretation of tone or message. If this doesn’t feel safe to you, a note is second best!  If you leave a note, humanize yourself by adding a photo and/or keep your language neutral, and offer to discuss in person if that feels appropriate.  Try to find common ground with your neighbor.
  • If resolution stalls, it’s possible to involve your local resources, for instance city agencies which govern noise nuisances, unsafe behavior, and so on.  If you live in a community with an HOA, there will be avenues of recourse there as well.

Living in an urban area, near other people is a great opportunity for community, friendship, and shared experiences.  It can also include some compromises to protect everyone’s rights to enjoy their property and live harmoniously.  If you’re interested in listening to the entire (20 minute) podcast on Neighbor Drama, click HERE or find it in your podcast App at Life Kit.

Best wishes for harmonious and enjoyable living this fall and beyond!

Here’s how to not regret your home purchase:

Posted on by Lily Ray Wyss

It’s a sticky topic but let’s talk about it 👇🏼

There have been too many times when I am out in the world talking with someone or I overhear someone saying they regret buying a home.

But it’s often not that they dislike homeownership itself but the home they bought.

These are the main reasons I see people dislike their homes:

⁃ They didn’t fully understand the costs of maintaining the style of home they purchased. Many types of homes (like older properties) take a lot of work.

⁃ They stretched their budget more than they intended. Often if not counseled properly by a local lender, home buyers will focus on the price of the home but not the overall cost of their purchase and what their monthly payment will be.

⁃ They don’t research the neighborhood they bought in thoroughly enough and or didn’t test their commute.

⁃ They got distracted by unimportant things like the home’s staging and the marketed appeal but didn’t see past it to see the actual functionality and condition of the home.

If this all sounds overwhelming no worries this is where our job as a realtor comes in.

As a full-service realtor prior to even seeing homes, we will meet for a consultation and educational meeting and will have high-level in-depth conversations as you prepare for your home search.

During the consultation phase, we discuss what your capacity is to take on home and yard care when it comes to your energy, time, and finances.

On the education piece when it comes to seeing homes I’ll detail for you the realities of older homes and other styles that require a higher level of maintenance, and what it takes to care for a yard, or what it takes to pay someone else to do these things.

That way you can make informed decisions on what type of home is right for you.

I’ll share with you my Portland Neighborhood Guide full of Portland’s best-known neighborhoods, some less common ones, and the outer cities. Detailed in the guide you will find the best restaurants, bars, shops, parks, etc. So you can explore areas of interest before committing to living there.

I’ll connect you with amazing local lenders who will make sure you are empowered with the information you need to make informed decisions.

And throughout the home shopping process, I’ll counsel you to look past flashy home staging and will point out possible pitfalls in homes. And I will also help you see the potential in homes that may not look cute initially but could be a gem in disguise.

Basically, finding the right home for you is easy when you have the right support.

Want to discuss your options and co create your winning home buying strategy? Let’s talk. You can find my contact information below.

Just Listed | Alberta Arts Eco-Craftsman | $849,000

Posted on by Sean Patrick O'Feery

603 NE Webster St

4 Bedroom 3.1 Bathroom | 2640 Sq feet

MLS# 24264982 | Taxes: $10,300.05 | Lot Size: .07 acres

 

Modern construction, craftsman details and green features all in one house?  It doesn’t get any better than this!  This special home has many great features that make living here a dream.  Main floor has open concept living with a living and family room. Upstairs there is a primary suite with private deck, two additional bedrooms, bathroom and laundry room. Lower level has a guest suite or office with its own bathroom and a tuck under garage with car charger.  In addition, you’ll find character uncommon in newer construction with reclaimed fir floors, craftsman millwork and built ins, timeless black and white kitchen and Rejuvenation fixtures.  Get outside with three decks and a low maintenance, fully fenced yard. Easy on your pocket book and mother earth, this house is equipped with Earth Advantage and Energy Star rated appliances, rainwater collection, recycled content roof and countertops, dual flush toilets, tankless hot water heater and two 95% efficiency furnaces. This dynamite house has a walk score of 94 and a bike score at a perfect 100.  Come see the perfect NE house in the perfect NE location with all the best features.  Buyer’s agent compensation is negotiable.

 

Navigating Your Home Purchase: Who’s Who in a Real Estate Deal

Posted on by Will Sing

Understanding the Key Players in Your Home Buying Journey

Buying a home involves several key players, each with a unique role. In this blog post, I’ll walk you through the major roles in a real estate transaction, what they do, and how they help ensure a smooth process. Whether you’re a first-time buyer or an experienced investor, understanding these roles will give you the confidence to navigate your home buying journey.

The Real Estate Agent: Your Project Manager

First and foremost is your real estate agent. Think of your agent as the project manager of your home buying process. Their job is to guide you from start to finish. Here’s what you can expect from your real estate agent:

  • Scheduling Tours: Arranging viewings for properties you’re interested in.
  • Determining Comps and Offer Strategy: Helping you understand the market value and craft a competitive offer.
  • Negotiating Deals: Working to get you the best terms possible.
  • Scheduling Inspections: Coordinating necessary inspections to ensure the property is in good condition.
  • Connecting with Contractors: Providing referrals for any needed repairs or renovations.
  • Resource Direction: Guiding you to tax or legal professionals as needed.

The Lender: Securing Your Mortgage

Next is the lender, who plays a crucial role in securing the financing for your home. They will:

  • Pre-Approval Process: Help determine how much you can borrow and identify suitable loan programs.
  • Document Collection: Request necessary documents to process your loan application.
  • Loan Processing: Guide you through the steps to secure your mortgage, providing clarity on your financial obligations.

It’s essential to work with a lender who communicates effectively and who you can trust. Poor communication can jeopardize your transaction.

The Escrow Officer or Title Company: Ensuring Neutrality

The escrow officer or title company acts as a neutral third party in the transaction. Their responsibilities include:

  • Holding Earnest Money: Managing the deposit you make when your offer is accepted.
  • Facilitating the Closing: Ensuring all paperwork is completed and funds are distributed correctly.
  • Providing Title Insurance: Protecting you against any title disputes.

Home Inspectors: Assessing Property Condition

Home inspectors are like the primary care doctors for your new home. They meticulously examine the property to identify any potential issues. Key tasks include:

  • Detailed Inspections: Checking structural integrity, plumbing, electrical systems, and more.
  • Referrals to Specialists: Suggesting further inspections if they find potential problems.

The Appraiser: Determining Home Value

Appraisers assess the value of the home to ensure the lender is not over-lending. They are a neutral third party and you won’t have much direct contact with them. Their role is crucial for:

  • Valuation: Ensuring the home’s value justifies the loan amount.
  • Risk Mitigation: Protecting the lender from overextending credit.

The Insurance Agent: Securing Home Insurance

Home insurance is mandatory when buying a home. An insurance agent will:

  • Policy Selection: Help you choose the right insurance policy for your home.
  • Bundling Options: Provide options to bundle home insurance with other policies for discounts.

Other Key Players

Additional roles that may come into play include:

  • Transaction Coordinators: Assist with paperwork and ensure everything runs smoothly.
  • Home Warranty Providers: Offer warranties to cover potential mechanical issues.
  • Contractors: Provide estimates and complete any necessary repairs or upgrades.

Conclusion

Understanding the roles of these key players in a real estate transaction can help you navigate the process with confidence. If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

Portland Oregon Real Estate Market Update for August 2024

Posted on by Lily Ray Wyss

Okay, let’s get into it.

INTEREST RATES. Yes, they are still predicted to lower next month. But nothing is promised and not many people are predicting them to lower drastically.

But we have seen them lower some already. I have seen some clients get interest rates below 6% already which is really promising.

And we are already seeing the effects of this in the current market.

While last month was fairly slow, new listings (2,905), pending sales (2,191), and sold homes (2,075) were all down slightly, we are seeing a good boost in market activity already this month. And August is typically slower.

With rates already seeing some relief it has motivated a lot of buyers.

We will see what happens in the rate market but either way it looks like we are going to have an active fall.

What does this mean for you?

As a future home seller, if your home is properly prepped (I will give you a detailed list of what to do don’t worry), priced right (I will give you coaching on this too), and properly marketed (I handle this entirely) you should expect great results.

Buyer motivation is already high but will only increase if we do see an improvement in rates. Which means more buyers through your front door and a higher possibility of multiple offers in the first weekend.

As a future home buyer, know that lower rates will mean higher affordability for you which is amazing, but it will also mean the same for other buyers. So we could see higher competition from other buyers (multiple offer situations, leading to higher prices and more competitive terms being needed on offers).

Due to this, I have actually had some buyers get motivated to buy NOW while the competition is lower, and these clients have had success getting really great deals on amazing homes.

But don’t stress if you have not found your right home yet, or are not ready just yet to get started on your home search, even if things do get a bit wild in the market, we have the right strategies and tools that you can use to still be successful in any market.

Want to discuss your plans to sell and/or buy this fall or beyond? I would love to chat.

Just have a question? I am here for that too. Reply to this email or you can find my contact information below.

REAL ESTATE NEWS: THE PORTLAND ADU TOUR

Posted on by Aryne + Dulcinea

THE PORTLAND ADU TOUR

Aryne + Dulcinea with Living Room Realty, Portland, Oregon. Aryne Blumklotz, Buyers, Dulcinea Myers-Newcomb, Sellers, aryneanddulcinea.comIf you are considering adding a separate living space to our property, The Portland ADU TOUR is for you! Come see several ways to add an ADU to your property whether attached, detached, custom, pre-fab, big, or small. Stop by and say hi to our favorite realtors and ADU specialists from team Aryne + Dulcinea, a.k.a the Property Mavens!

 

Aryne + Dulcinea with Living Room Realty, Portland, Oregon. Aryne Blumklotz, Buyers, Dulcinea Myers-Newcomb, Sellers, aryneanddulcinea.com

And if you can’t make it, reach out to us for more great ADU information. Continue reading “REAL ESTATE NEWS: THE PORTLAND ADU TOUR”

Home Warranties Explained: Pros, Cons, and Everything You Need to Know

Posted on by Will Sing

When buying a home, one of the considerations you might encounter is whether to invest in a home warranty. In this blog post, we’ll dive into what home warranties are, their benefits, potential drawbacks, and why you might need one.

As a local real estate agent in Portland, Oregon, I often get questions about home warranties. If you have more questions or need specific advice, feel free to reach out. My contact information is below.

What is a Home Warranty?

A home warranty is essentially an additional insurance policy for your home. It provides an extra layer of protection on top of your homeowner’s insurance. Typically, a home warranty covers things like the water heater, HVAC system, and major appliances.

When buying a home, you can ask for a home warranty as part of the deal. Either the buyer or the seller can pay for it, depending on the negotiation. Usually, a home warranty lasts for about a year, but it can be renewed annually.

Cost of Home Warranties

The cost of a home warranty varies, but it usually ranges from $400 to $650 per year. This cost can sometimes be financed by the seller for the first year, and after that, it’s up to you to renew it.

One thing to note is the service fee. When you call for a repair, you’ll pay a fee for the service technician to come out and assess the issue. This fee typically ranges from $80 to $100.

Pros of Home Warranties

  1. Financial Protection: Home warranties cover unforeseen repairs, which can be a lifesaver if you don’t have a lot of cash reserves. For example, if your water heater, which costs about $1,300, breaks down, you might only have to pay a $85 service fee for a replacement.
  2. Convenience: Home warranties provide access to a network of professionals. Instead of searching for a plumber or an electrician, you make one call, and the warranty company handles the rest.

Cons of Home Warranties

  1. Unused Benefits: If you don’t need any repairs, you might feel like you’ve wasted money on the warranty.
  2. Service Fees: You’ll have to pay a service fee each time you request a repair. While common for some services, it can add up over time.
  3. Limited Control: You don’t get to choose the service professional. The warranty company decides who handles the repairs.

When to Consider a Home Warranty

Deciding whether to get a home warranty depends on your risk tolerance and financial situation.

  1. Get a Home Warranty If: You don’t have a lot of cash reserves. A home warranty can help cover significant expenses, giving you peace of mind and financial protection.
  2. Skip the Home Warranty If: You have substantial savings and can handle unexpected repairs out-of-pocket. Also, if you’re buying a new construction home with a builder’s warranty, an additional home warranty might be unnecessary.

Doing Your Due Diligence

It’s essential to do your due diligence when considering a home warranty. Review example plans and understand what each warranty covers. Make sure you know where your homeowner’s insurance overlaps with the home warranty to get the best value for your needs.

Conclusion

Home warranties can provide peace of mind and financial protection for homeowners, especially those without significant cash reserves. However, they may not be necessary for everyone. Ultimately, the decision to get a home warranty depends on your financial situation and risk tolerance.

For more personalized advice, feel free to connect with me on YouTube, Instagram, or Facebook. If you’re looking for more in-depth assistance, you can schedule a free strategy session with me here.

Also, check out my Free Buyer’s Guide to navigate the home buying process with confidence.

Thank you for reading, and I look forward to helping you on your real estate journey!

Meowdy! Congratulations to Woodstock Portland’s newest neighbors!

Posted on by Nicole Chavira

Story time about this dynamic duo Jason and Tamara! They began their home search with me in early 2021. They pulled out on a potential purchase that just wasn’t quite right for them that year. They took a break from the home search (this happens on occasion and for good reason). We stayed in touch over the next few years and I was thrilled when they came back around the end of 2023 to update their home search and peek at what the current market had to offer!

We got an offer accepted on a condo that turned out to need more repairs than the HOA had budgeted for, so they terminated. Thank goodness for the many contingencies during the home purchasing process that protected my clients to uncover all they needed to make the educated decision to move on from that one. Although it was a huge disappointment for them, they did not get discouraged or give up on their dreams of home ownership. They jumped right back on the saddle and asked to tour new homes! I was so proud of their trust in my guidance and faith in themselves to get to the finish line.

They found a gorgeous new construction home that offered what is called an SDC exemption (System Development Charge). This is a program that assists developers by reducing their development costs when building affordable residential housing. T & J diligently worked on getting that application in after our offer was accepted, and they were approved for $30k off the sales price AND over $9k in closing costs covered by the seller!

They are now MOTHER F*CKING HOME OWNERS!

Special shoutout to our trusted lender Cat Jerger with Guild Mortgage for her excellent service!

Way to go my friends! It’s been a true pleasure. Wishing you many beloved memories of game nights, play time with your fur baby Ophy and new neighborly friendships in your new home.

Real Estate Lockboxes: 4 things to know!

Posted on by Lita Batho

What’s With the Special Lockboxes?

What are they?

A Sentrilock lockbox is typically installed (with your permission) on your property by your listing agent for the duration of your home sale.  This provides access to contractors/photographer (if needed, with your permission) prior to going on the market, to agents while on the market, as well as while your home is pending sale, after you’ve accepted an offer. These lockboxes are integrated with the MLS, which means the lockbox is specifically assigned to your home.  They are also connected to an app which allows licensed agents to access keys via these boxes.  They were a new innovation about 20 years ago, and are now ubiquitous in the industry.

Are they secure?

There are some features of these lockboxes that make them especially secure and useful for real estate!

  • The data from the lockbox is transmitted to the mobile app, allowing listing agents to keep track of who is accessing your home, and when.  This proves especially helpful in the rare case when an agent accidentally walks away with your key in their pocket, since we can easily see who last accessed the box.  It also makes it simple to follow up with agents who have shown your home to buyer clients.
  • It is easy for a listing agent to provide a ‘one day code’ to allow someone not licensed as an agent to open the box, like a contractor or cleaning service.  This date specific code will only work on that occasion, and new codes will be generated if needed.  This is safer than having one code that many parties may have used and may use again.
  • Sentrilock boxes in each region provide general information on how often lockboxes are accessed, how long buyers stay at homes, etc. to provide unique data on the current market and activity, which helps us to be responsive to the market.
  • These lockboxes are designed to be difficult to remove, and difficult to break into. While not impossible, they are tough.  While you may typically see them hung on doorknobs, they can also be installed in another secure location on your property, if the front door knob is not your preference.

 

Should I Remove my Only Bathtub?

Posted on by Lita Batho

 

With the popularity of walk in showers, people ask me: can I remove the only bathtub in my home? Will it hurt resale value?

It depends! Is this your forever home? (if so, you may have fewer concerns about resale value but may want to consider what your needs will be as you age).  Do you live in a one bedroom condo or house? (tubs are less of a priority in homes with one bedroom, since they are less often chosen by families with kids. Plus, a spacious walk in shower can be more practical than a cramped bathtub in a smaller home).

If you are fortunate enough to have multiple bathrooms, the most current trend is a large walk-in shower for daily use in the primary bath, with bathtub in a secondary bathroom.  OR, a smaller soaking tub plus a separate shower, if your space allows.

Do you need a bathtub?

One important consideration is whether you need/want a tub.  Maybe you never use a bathtub, but will you or guests like one in the future?  If you do intend to sell your home at some point, it’s worth considering the versatility a bathtub offers for small children, dogs, or anyone who’d like to have a soak.   Maybe you’d simply like to replace your tub with a more appealing model, or find a way to fit a shorter, deeper tub (try searching ‘small soaking bathtub’) beside a walk-in shower.

Sustainability

While generally showers are considered more energy efficient and eco-friendly (as long as your showers are not epic in length and you have a water-saving shower head), there are eco friendly options for bathtubs.  A shorter/deeper tub (I’ve linked an article about fitting one into a smaller bathroom) can make your water usage more efficient.  As far as materials, newer stone aggregate tubs are more earth-friendly options. At the higher end, designers like Wetstyle in Canada produce beautiful tubs out of  this kind of sustainable material.   Traditional porcelain enameled cast iron (a technology invented in the late 19th century) is also sustainable: these tubs are possible to restore for a second use, recyclable and long lasting.   While lighter, more inexpensive fiberglass and acrylic tubs gained popularity from the 1960s-2000s, these materials can include toxins and not be recyclable.

Should I remodel my bathroom to sell the house?

I wouldn’t typically recommend remodeling a bathroom with the specific goal of increasing home value prior to selling. Remodeling your bathroom for your own enjoyment is one thing, however the time, expense, and inconvenience of a bathroom remodel is considerable, and the most ROI will come when you get to enjoy it yourself.  Likewise, there is no guarantee that the sales price of your home would increase enough to justify the project.  That said, each situation and home is unique, so this is certainly something we can discuss in the context of your long-term plans for your home.

If you’re looking for a trusted contractor referral, someone to brainstorm with, or to discuss your plan for your home, I’m here for you!  It can’t hurt to get a few perspectives before embarking on a remodeling project!

“Is this a good time to buy a house?”

Posted on by Yomari Cruz-DeWeese

“Is it a good time to buy a house?”

People always wonder when is the best time to buy a house. Many considerations go into answering this question – for example: 

  • Are mortgage rates favorable? Are they likely to go up or down? 
  • Are house prices likely to go up or down in the area in the near future?
  • How much inventory is on the market in the area where I want to buy?
  • Is the real estate market cyclical in the area where I want to buy?

All of these questions are important, and you can find many discussions of each of these questions with a quick Google search. I’ve put some thoughts below from my perspective as a real estate agent in Portland. 

Where are mortgage rates likely to go?

Mortgage rates have improved since last year’s high of 7.9% (October 2023), and many people seem to think that they will continue falling slowly. Mortgage rates are generally influenced by the Federal Reserve, but also by rates of economic growth and inflation. Beginning in early 2022, with inflation concerns high, the Fed raised the benchmark federal funds rate (basically, the rate at which banks can borrow from each other), partially in an effort to curb inflation. This has contributed to rising mortgage rates. It’s hard for anyone to say exactly where mortgage rates will go in the future, because it depends both on how the economy in general does, and how the Federal Reserve reacts to concerns about inflation. 

It’s helpful to remember that the extremely low mortgage rates we’ve seen since the Great Recession are somewhat of a historical anomaly. In the mid 1990’s, the federal funds rate was around the same level as it is now. Beginning in mid-2000, and continuing after the 9/11 attacks, the Federal Reserve lowered the federal funds rate drastically, culminating in a low of 1% in March 2004, in an effort to boost the economy. As the economy sped back up after that point, partially due to rampant subprime mortgage lending, the Federal Reserve increased the federal funds rate back up to around where it is now, and then after the subprime mortgage bubble collapsed in late 2007, resulting in the “Great Recession,” the Federal Reserve took the unprecedented step of lowering the federal funds rate almost to zero, where it stayed until it gradually began to increase in 2015. 

When COVID hit, the Federal Reserve lowered the rate back down to zero, where it stayed until the Federal Reserve started increasing it in March 2022 in response to inflation concerns. This increase has leveled off at the current rate of 5.33%, and it is unknown where the Federal Reserve will go from here. All of this is really to say that where mortgage rates are going to go is difficult to predict even for financial geniuses. What’s less difficult to predict is the fact that we all need a roof over our heads. Also helpful in thinking about mortgage rates is that, if you get a mortgage, it’s going to stay the same unless you re-finance. So if mortgage rates go lower, you may have the option of taking advantage of those lower rates and re-financing later, and if they go higher, you are insulated from that increase because you already have a mortgage.

What about home prices? 

Home prices are influenced not only by what mortgage rates are doing, but also by the housing inventory levels in your area. It’s a supply and demand thing. Stated simply, if mortgage rates are high and inventory is high, prices may decrease; but prices trend higher when demand increases and supply decreases. The housing inventory in the Portland metropolitan area has recently increased slightly from historically low levels, but is still low. More inventory can mean less competition for houses resulting in a market is more neutral or buyer-friendly, but because people who already have mortgages locked in at the historically low rates of 2020-21 may not yet be incentivized to make a move unless we see further decreases, the inventory has remained low, and prices haven’t seen much decline. 

Is the Portland area real estate market cyclical? 

The short answer is yes. Like everything else, the real estate market tends to lull during the holidays, then begin to ramp back up heading into February. This is especially true in Portland, because people generally don’t like to move here in the rainy season. The Portland market generally reaches its peak around April to June, and stays at a higher volume until August, when it gradually tapers down over the next few months. In the summer, you’ll potentially have more competition but more options. In the winter, you will likely have less competition but fewer home options. I would like to note here that while having more choice and looking at pretty gardens is fun, inspecting basements during the rainy season in Portland is an advantage not many consider, and they should. 

So when should I buy?

While everything I explained above is important, at the end of the day the most important questions are very personal: why do YOU want to buy a house, and when does it make sense for YOU? If you currently have a great mortgage and would like to have a bigger house, maybe it’s not the best time financially, but maybe you have a growing family and you need the space. In that case, you need to decide how much it’s worth to you to get the right house for your family. If you are a cash buyer, now might be a great time to buy a house, because you won’t have so much competition, and you might get a great price on a very desirable house. If you’re looking to move out of a rental and into home ownership, and are financially flexible, it also might make sense to buy now. Because so much of it depends on each individual’s situation, consulting a buyer’s agent is key. 

A buyer’s agent can help educate you so you can make the best decision for you and your family. After speaking with a great agent, you should feel more empowered, because you will understand all of these factors better. If the first thing an agent tells you when you speak to them is that it’s a great time to buy a house, without knowing anything about you, you might want to ask them why it’s a great time for you to buy a house, or find another agent. 

 

If you are thinking about buying a house sometime in the future and are not sure whether to act now or wait for a little while, you can always take steps so you can make sure you’re ready when you feel the time is right. Check out my post about all the steps you can take now to be ready to put an offer on a house when it’s time! 

 

Portland Oregon Real Estate Market Update for June 2024

Posted on by Lily Ray Wyss

What we discuss:

Some normalcy and balance returning to the market.

An update on interest rates.

What both home buyers and home sellers can expect from the summer market.

Home prices during an election year.


Is the frenzy of the early Spring market over? It seems so.

The hottest of hot homes are still selling for over asking, but it seems that data and comparables have caught up to the epic price jumps we were seeing a few months ago.

Balancing the market some.

Though the data does show that we are still seeing activity increase across the board:

New listings are up 12% with 3,508 homes hitting the market.

Pending sales are marginally up by just 2% with 2,363 homes going under contract.

Sold homes are up 13% with 2,140 homes going to new homeowners.

Inventory of homes has stayed steady at 2.3 months (from 2.4 months in April).

What does this “new” market mean?

For home buyers, this means that while you will still deal with a seller’s market, especially if you are shopping in a hot area, there will be more homes sitting on the market and with those homes, the opportunity returns to ask for price reductions and credit asks.

And on the hot homes, while you may still deal with competition, it’s likely not the 10+ offers of the Spring market but a normal 3-4.

For home sellers, this means that demand for your home will typically still be great, it is just more important than ever that you price your home well.

Interest rates are still high and buyers are not just as frenzied as they were in the Spring. So your likelihood of sitting on the market and not getting multiple offers is higher if you don’t price accordingly and prep your home correctly.

On the note of interest rates, it is still predicted that we will only see one significant decrease in rates this year.

In terms of what you can expect for the summer, we should see activity remain high throughout July and then slow down as it historically does in August.

But no worries if you are someone who is thinking of selling around that time or plan to buy in August, those who are serious in the market will still be making real estate moves, and things do always pick up in September.

Speaking of August, August 17th is now the new date that changes will be implemented across the real estate industry for those who belong to the National Association of Realtors (which all Portland area agents do). The main changes are that buyers will need to enter into a contract with their agent prior to seeing homes, and buyers’ agent commissions can no longer be displayed on the MLS, but counter to what has been stated in some places, as of now, sellers are still able to offer compensation to the buyer’s agent.

This will certainly still bring changes to our industry, as an experienced realtor of 7 years, I believe many of them will be positive but if you have any questions or concerns and would like to discuss them I would be happy to talk.

Have questions or want to discuss your next move? I would love to chat. You can find my contact informatin below.

Beaumont-Wilshire Charmer

Posted on by Martin Cross

You’ll just love this beautiful 1938, 4 bedroom 3 bath home is loaded with charming, vintage details, many of which are newer, but crafted to match the era of the home. On the main level you have a large, light filled living room with gorgeous period fireplace with gas insert, updated kitchen and bath that were both redone to uphold the wonderful vintage styling of the home and two bedrooms, both with access to the backyard deck and delightful backyard. 

The upper level features the fantastic primary suite with hardwood floors, vaulted ceilings, built ins, skylights and bathroom.

The lower level has access from the main floor or outside which lends to the potential for a lower level ADU. Warm and inviting family or media room, 4th bedroom with egress, laundry facilities and lots of storage. 

The home sits on an oversized 75 x 100 lot which may offer room to build. Comes with an enormous three-car garage with attached garden shed, a lovely fenced backyard with both deck and patio, a rose garden and mature trees. 

Recent updates include, new south side Marvin infinity double hung, lowE2 efficient windows with transferable warranty, new electrical service and panels for both the home (200 amp) and garage (100 amp), attic insulation and new backyard fencing.

The sweet neighborhood is quiet and full of lovely neighbors. It’s situated between the Albert Arts district and up and coming 42nd Ave. And just a short distance from Fremont St and all that has to offer. Plus it’s just short walk to the infamous Kennedy School, Common Grounds and New Seasons grocery. 

Portland’s Real Estate Tapestry: Quirky, Green, and Welcoming

Posted on by Jessica LeDoux

Welcome to Portland, where the real estate market is as eclectic as the city itself. In 2024, navigating Portland’s housing scene feels like embarking on a treasure hunt through a maze of coffee shops, food trucks, and indie bookstores. Buckle up – we’re diving deep into the weird and wonderful world of Portland real estate!

Neighborhood Chronicles: Where the Streets Have a Story to Tell

Let’s start our journey in Southeast Portland, where each neighborhood has its own distinct personality. From the bohemian charm of Belmont to the artisanal vibes of Division, every street corner whispers tales of local lore and community spirit. Imagine strolling down Hawthorne Boulevard, where vintage shops rub elbows with craft breweries, and front porches are adorned with succulent gardens that rival the botanical gardens downtown.

Hipster Havens and Hidden Gems

Portland’s real estate scene isn’t just about homes; it’s about lifestyle choices. Want to live in a converted warehouse-turned-loft in the Pearl District? Or perhaps you’re drawn to the tiny house movement flourishing in Kenton? Every corner of Portland offers something unique, whether you’re craving a cozy bungalow in Laurelhurst or a sleek condo overlooking the Willamette River.

The Art of the Deal: Portland Style

In Portland, navigating real estate deals can feel like balancing on a unicycle at a street fair. Bidding wars are still a reality, especially for those charming, well-marketed homes that everyone loves. While some properties linger on the market, politely waiting for a price drop might mean missing out. The key? Partner with a savvy agent who can spot the hidden gems and negotiate before a new price tag sparks a frenzy. It’s not just about making an offer; it’s about crafting a strategy, staying ahead of the curve, and sometimes, acting faster than you can say “locally roasted coffee.”

Sustainability Meets Style

Speaking of sustainability, Portlanders take green living seriously. Homes with solar panels, rainwater collection systems, and edible gardens aren’t just trendy; they’re a testament to Portland’s commitment to eco-friendly living. Want to reduce your carbon footprint? There’s a passive house for that. Prefer to grow your own kale? Welcome to the urban farm movement.

The Portland Promise: Where Community Comes Home

Beyond the quirky cafes and food carts, Portland’s real estate market is a reflection of its vibrant community spirit. Neighborhood associations thrive, fostering a sense of belonging that goes beyond property lines. Whether you’re attending a block party in Sellwood or joining a community garden in Woodstock, buying a home in Portland isn’t just about four walls; it’s about becoming part of a larger narrative.

Finding Your Place in Portland’s Patchwork

As we wrap up our tour of Portland’s real estate scene in 2024, one thing is clear: this city isn’t just a place to live; it’s a place to belong. Whether you’re drawn to its quirky charm, its commitment to sustainability, or its thriving community spirit, Portland offers a home for every dreamer and doer. So, grab your bike, sip on some locally brewed kombucha, and let’s explore what makes Portland the city where weird meets wonderful – and where every house tells a story.

When Should You Bounce on a Pending Home Purchase?

Posted on by Lydia Hallay

Buying a home is one of the most significant decisions you’ll ever make, and the stakes are high. In today’s market, competition for desirable homes can be intense- and once your offer is accepted, it’s easy to become emotionally attached to the idea of a new life in your new home. However, sometimes, despite the excitement and effort put into a winning offer, walking away from a pending purchase is the best decision. Here are key scenarios where it might make sense to reconsider your decision.

1. Unresolvable Issues in the Home Inspection

A thorough home inspection is a critical step in the home buying process. If your inspection uncovers significant issues such as structural damage, outdated electrical systems, plumbing problems, or mold infestation, these can lead to substantial repair costs and potential safety concerns. While most issues can be resolved (either through seller repairs or concessions from the seller that make repairs possible after closing), major problems may not be worth the risk or expense. Key questions to consider are, “is the seller willing to negotiate?” and “are these issues ones I can address over time?” Your realtor will be your best guide on sussing out what’s possible- and, making sure that you are able to protect your earnest money if you decide to walk.

2. Appraisal Comes in Lower Than the Purchase Price

In Portland’s competitive market, bidding wars can drive prices up. However, if the home appraises for less than the agreed-upon purchase price, your lender may not approve the full loan amount. This means you’ll need to come up with the difference out-of-pocket, which may not be feasible. If the seller is unwilling to lower the price- or, you’re unable to bring extra cash to the table to bridge the gap- it might be wise to walk away. If you suspect a home you’re writing an offer on won’t appraise at value, work with your realtor on crafting an offer that offers protection against appraisal gaps. While most homes out there appraise “at value,” a low appraisal doesn’t always mean you need to walk. Your realtor can often gather additional information to help you appeal an appraisal and hold things together.

3. Title Issues

A clear title is essential for a smooth home purchase. If the title search reveals unresolved liens, disputes, or legal issues, these could become your responsibility after the purchase. Title insurance can provide some protection, but unresolved title issues can be a deal-breaker. Your realtor can help you determine whether a title issue is resolvable, or whether it makes more sense to bounce.

4. Financing Falls Through

Even with pre-approval, changes in your financial situation or the lender’s policies can cause your mortgage to fall through. Losing your job, acquiring new debt, or significant changes in interest rates can impact your loan approval. Without secure financing, proceeding with the purchase isn’t possible without an alternative plan. Be sure to keep your realtor (and your lender) abreast of any potential changes- that way, there’s time to try and pivot.

5. Neighborhood Concerns

After making an offer, you might discover issues with the neighborhood that weren’t apparent initially. This could include plans for undesirable developments or zoning changes that change livability or future property values. If the community doesn’t meet your expectations for safety, amenities, or future growth, reconsidering the purchase is prudent. Working with a realtor who is well-versed in the neighborhoods you’re shopping in is a great way to avoid problems from the start.

6. HOA Restrictions

If the home is part of a Homeowners Association (HOA), it’s crucial to review their rules and regulations. Excessive restrictions, high fees, or poorly managed HOAs can lead to ongoing frustrations and financial burdens. If the HOA terms don’t align with your lifestyle or budget, it’s a valid reason to walk away. Your realtor may suggest that you consult with an attorney as you are reviewing HOA documents.

7. Seller’s Non-Disclosure

If you discover that the seller has intentionally withheld important information about the property, such as past damage, renovations without permits, or neighborhood disputes, this breach of trust is a significant red flag. Full disclosure is essential for making an informed decision, and lack of it can justify backing out of the deal. It’s important to note that most sellers don’t know *everything* about the property they’re selling- so consult with your realtor if you have concerns about what’s been disclosed. Sometimes, it’s just an ordinary oversight on the part of a seller- and can be remedied with simple clarification paperwork. Other times, it’s more serious. Your realtor can help you sort the difference.

8. Personal Circumstances Change

Life is unpredictable. Job relocations, changes in family dynamics, or health issues can arise, making the purchase impractical. Personal well-being and stability should always come first, and sometimes that means delaying a home purchase. If you’re thinking of making a home purchase- let your realtor know of any potential life events that are on your radar. They can help you make informed decisions about how best to pivot, if pivoting is needed.

The Takeaway

Walking away from a pending home purchase isn’t a decision to be taken lightly. Sometimes, there are big financial consequences to bailing- including losing your earnest money or legal action from the seller for breach of contract. But sometimes- walking is the best course of action to protect your financial and personal well-being. Your realtor can help you evaluate options and guide you though the proper way to exit a transaction.

Buying a home is a big deal. Your realtor can help you conduct thorough due diligence, seek additional professional advice, and make decisions that protect your interests. The right home, free of significant issues and in a suitable neighborhood, will eventually come along. Remember, it’s better to wait for the right opportunity than to regret a rushed decision.

Have questions about the home buying process? Thinking of making a move? Reach out! I’d love to help you find your next Living Room.

Save Thousands: Perform Your Own Inspections When Buying a Home

Posted on by Lily Ray Wyss

Here is how you can potentially save your self thousands of dollars:

Buying a home is a significant milestone and financial commitment in anyone’s life. Whether you’re a first-time homebuyer or seasoned investor, one of the crucial steps in the process is the home inspection. In the Portland Oregon Real Estate Market, it’s typical for buyers to arrange and pay for their own inspections. However, there are scenarios where sellers might provide pre-listing inspections or share reports from previous transactions. While this might seem convenient, it’s not always in the buyer’s best interest to skip their own inspections.

Here Is Why You Should Perform Your Own Inspections:

Quality Varies Among Inspectors

I have a list of amazing inspectors I recommend to my client. However, not all inspectors are created equal, and there can be significant differences in the quality of inspection reports. A report from a trusted inspector can provide invaluable insights into the condition of the property, and potentially uncovering issues that might not be immediately apparent.

Human Error is Possible

Even the best inspectors are human and can miss things. By conducting your own inspection, you increase the likelihood of catching any overlooked issues. Multiple sets of eyes on a property can reveal different perspectives and insights that contribute to a more comprehensive understanding of the homes condition.

Financial and Peace of Mind Benefits

Investing in a home inspection typically costs between $800 to $1,000, depending on the size of the home and type of property. While this might seem like an additional expense, it is a crucial investment that can save you thousands of dollars in potential repair costs down the line. Knowing the true condition of the property also provides peace of mind, allowing you to make informed decisions about your purchase.

The Importance of Due Diligence

Buying a home involves substantial financial commitment, and skipping or relying solely on seller-provided inspections can be risky. Sellers may not disclose all issues, and even well-intentioned pre-listing inspections might not capture everything. Conducting your own inspections ensures that you have a thorough understanding of the property’s condition and empowers you during negotiations.

Conclusion

To summarize, while there might be occasional circumstances where sellers provide comprehensive inspections, or the rare case where you may need to “waive” inspections to secure a home that has already been pre-inspected. In general, performing your own inspections will always be your best bet. Remember, buying a home is a significant milestone, and investing in professional inspections is a small price to pay for the long-term security and peace of mind it provides.

If you’re considering buying a home in Portland or want to learn more about the home buying process, I’m here to help. Let’s connect and discuss how I can assist you in navigating through the complexities of real estate transactions. Together, we can ensure that you are motivated, educated, and empowered to make the best decisions for your future home purchase. Contact me to schedule a consultation and take the first step towards owning your dream home.

Portland Oregon Real Estate Market Update for May 2024

Posted on by Lily Ray Wyss

What we discuss:

The importance of an expert buyers agent in this new real estate market landscape.

The opportunities in the Portland Real Estate Market for home sellers.

New predictions for interest rates.

The heat of this market seems to continue as we head into the summer!! 

Activity in the Portland Metro market continues its upward trend with heightened activity across the board.

And it shows in the numbers:
 
New listings were up 28% with 3,120 homes hitting the market. (Whoohoo more options for home buyers!) 

Pending sales were up 8% with 2,313 homes going under contract. 

And sold homes were up 19% with 1,883 going to new homeowners.  

Inventory of homes actually saw a slight increase from 2.3 months to 2.4 months. Meaning if no new homes were to hit the market, based on demand, we would run out of homes in about 2 and a half months. 

The average sales price has remained steady at $604,000, showing that with demand remaining so high for housing in the Portland market, even with high interest rates, prices have remained stable. 

Speaking of interest rates, we have seen them fluctuate slightly in the last few weeks, both up and down, and as discussed last month, it is projected that rates will not see any drastic decrease anytime soon. The most we can likely hope for is one to maaaybe two decreases by the end of the year. Womp womp. 

While activity is up and energy is high in our market it’s important to note, especially for you home sellers, that not every home is performing the same in this market, the average days on market in the Portland Metro Area is 83 days (I will just brag quickly that the average days on market for a Living Room Realty listing is 5 days. Our high-level marketing strategies, level of experience, and industry-wide reputation really pay off for our clients).  So while we are seeing a lot of homes go pending in a weekend (like the ones we list at Living Room) not all homes are getting those results. With that in mind, it is important that you do everything necessary to prep your home well and work with the right listing team to present your home in the best light. 

Speaking of days on market, for home buyers, it is good to note that days on market are not a great determinant of whether a home will have competition or not. Yesterday I handed keys over to some buyers who wrote an offer on a home that got 4 offers even though the home was listed for 24 days and had a failed transaction prior. Luckily we employed high-level strategies to win them the home and as of yesterday they are now homeowners for the first time!

Also yesterday I wrote an offer for a family on a home that had been sitting for over a 100 days and suddenly two other offers came in. 

So while this doesn’t happen in every case, just keep in mind that sometimes, just because a home is sitting does not mean you won’t have to compete against other home buyers. 

If you are curious to learn more about the current market and hear some more anecdotes, watch the video above! 

Looking to make a move in 2024? I am here for you. While this market is seeing heightened activity overall, different areas/price points/types of homes have their own unique market conditions, so its essential that we talk one-on-one about what you can expect based on your own needs. 

You can find my contact info in my bio below. I look forward to talking with you and co-creating your custom strategy to achieve your dreams. 

Step-by-Step Guide to Making an Offer on a House in Portland, Oregon

Posted on by Yomari Cruz-DeWeese

Want to buy a house in Portland, Oregon? Here is your step-by-step guide to making an offer on a house! 

In home buying as in everything else, knowledge is power. The following list of steps is intended as a step-by-step guide to what YOU can do to best prepare yourself for making an offer on a house and making one of the most important purchases for your family and your life.

  1. These first two steps are fun, and you can start doing them and continue as you’re answering the harder questions which follow:
    1. Start perusing online real estate listings as soon as you can, but with the idea that you are not necessarily looking for the house you want to buy, but rather just educating yourself about what’s out there. Look at lots and lots of houses and decide what excites you and what doesn’t. Do you like older houses? New construction? One or two (or more) floors? A finished basement? How important is a yard to you, and what do you want to do in the yard? How many bedrooms and bathrooms? You can also go to open houses. 
    2. Also, start frequenting the neighborhoods you’re interested in. If you want to buy a house in the neighborhood where you already live, you’ll do this naturally, but if, for example, you live on the west side of Portland and are interested in moving to the east, start walking around the eastside and getting to know the various districts, so you can get a feeling for where you might like to put down roots.
  2. Identify the reason you want to buy a house. Is it because you want a place to live and raise a family over the long term? Is it because you want an investment? Do some soul searching, figure out your true objectives in buying a house and let that objective guide you in all the next steps. For example, if you’re looking for a place to raise a family, whether or not a particular house will rapidly appreciate in value (or even appreciate at all) may not be as much of a concern as if you are looking for a house as an investment. 
  3. Identify whether you have any time pressures. Is your lease ending soon? Do you have a good opportunity to sell your current house? What are the current mortgage rates, and how might that affect your ability to get into the house you want? For most people, buying a house is one of the most significant investments of their lives. You should look at tons of houses, all kinds of houses, and really figure out what kind of house you like, so you can make the best of this very important decision.
  4. Identify whether this is the right time to buy a house for you. Answering this question really depends on your particular situation. In a market where interest rates are high, buyers who need to rely on financing for most of their purchase price may want to take a hard look at whether it is really the best time for them. At the same time, since so many people will be thinking the same thing, there may be less competition in a high-rate environment, so it may be easier to compete for the home you really want. And in a high-rate environment, cash buyers sometimes have great opportunities, for the same reason.
  5. Identify whether you need a house that’s in perfect condition and needs no improvements, or whether you have appetite for somewhat of a fixer. If you’re handy, being open to a house that needs some work may open up some possibilities that you might otherwise not have.
  6. Now make a list of wants and needs. Figure out what items are negotiable, and which are not. These may change over time, but it’s helpful to write this stuff down to organize your search. Be sure to share this list with your buyer’s agent!
  7. Now it’s time to talk to a mortgage broker. While some people like to stick with the banking relationship they may have developed over a long period of time and get a mortgage directly from their bank, I generally recommend that people at least talk to a mortgage broker. Banks have the mortgage products they have, and bank employees don’t have much choice but to offer you those products, whatever they may be. In contrast, because mortgage brokers get paid by connecting people with lenders, mortgage brokers have a huge incentive to ferret out the best deals, and the best brokers will really spend some time with you to understand your particular financial situation and real estate objectives and find the best mortgage product for you.
  8. Once you have talked to a mortgage broker, you will understand how much house you can afford, and what your range of purchase prices may be. Keep in mind that the purchase price of a house is only the starting point of how much the house will cost you – there may also be:
    1. Mortgage insurance (usually applicable if you put less than 20% down);
    2. Homeowners insurance;
    3. Property tax; and
    4. Utilities (water, sewer, garbage, gas, electric, etc).
  9. Additional potential expenses: 
    1. Repairs and Maintenance. As you figure out how much house you can afford, keep in mind that you may need to budget for more than just monthly expenses. You should understand how much of a short term budget you have for both routine maintenance and necessary major repairs. What if you end up buying a house that will need a new roof in the next five years? What if the furnace breaks down? Thinking about these potential expenses, and understanding what cash you’ll have available to pay them, will help a lot when you find a house you want to make an offer on.
    2. Other. Some houses have features that are great but cost money. Be aware.
      1. Homeowners Association Fees (can be a major cost);
      2. Pool and hot tub maintenance;
      3. Fireplaces and chimney cleaning;
      4. Etc.
  10. Now it’s time to look at houses FOR YOU, but it’s also time decide whether you want to work with a real estate agent. Buyer’s agents are a dime a dozen on the internet; the trick is to pick the right one. There are many factors to consider, and I will write about this in another post, but, in a nutshell, you should first try to get referrals from friends you respect and who seem to “have it together.” If someone you trust had a great experience with an agent and got a house they love, you probably want to talk to that agent. Remember, this is one of the most significant purchases you may ever make, and you want to find someone who respects that and brings that perspective and sense of importance to helping you. That may not be the person who has spent the most money on making sure they appear first in Google searches. Then you should interview at least three or four agents before deciding. And once you pick one, remember, you’re not locked in to your buyer’s agent. If you hire someone and they’re not working out or you are losing confidence in them, you can almost always terminate the relationship and find someone else. Don’t worry about hurt feelings – we are professionals, and what we want (or should want) is for you to have confidence in the services you’re getting from us. If you don’t have that confidence, you should find someone who you click with better. This is our job, but it’s your life.
  11. Look at houses. Lots of houses! In the beginning, try to cast as wide a net as possible, and look at a ton of different houses in a ton of different neighborhoods. You may think, going into the search, that you know what you want in a house and where you want to live, but you may change your mind after seeing what’s out there. 
  12. DO NOT FALL IN LOVE WITH A HOUSE (it’s easy to do!). This process is going to be full of emotional ups and downs. If you’re in a competitive market (and Portland is very competitive), it’s likely that you will be facing competing offers for the house you decide on. You may lose that competition, and it may happen multiple times. It is so easy to look at a bunch of beautiful house pictures on real estate websites and imagine yourself so happy living in one, and then be so disappointed when it doesn’t happen. But even more importantly, see if you can put some emotional distance between you and your house search process. Now that you’ve done the work of answering questions about what kind of house you want, why you want to buy, why it’s the right time for you to buy, and how much you can afford, you should be somewhat dispassionate about evaluating houses objectively to determine whether they fit your criteria. Honestly, this is a big reason people hire professionals to represent them – the professionals represent YOUR INTERESTS. Lawyers have a saying: “a person who is their own lawyer has a fool for a client” – meaning that it’s extremely helpful to rely on a professional who can bring their expertise to bear for your benefit, without any emotional entanglement or personal interest. The same thing is true for real estate agents.
  13. When you’re looking at houses, remember to find out how much the expenses of that house truly are. What are the monthly taxes and approximate cost of  utilities? Look at the condition of the roof and the basement. Determine whether any major repairs will be due, or if you’re going to have to do some remodeling to have the house you want. A good agent should be able to help you get accurate answers to these types of questions.
  14. When you find a house that you want to buy, figure out what offer you can afford to make that will make the seller choose to accept your offer. Trusting your agent to gauge potential competition, tell you if the home is well priced, and to communicate with the listing agent to help you assess what a strong offer would be, is crucial. Knowing you can listen to your agent’s recommendations to put your best foot forward is how you get the house. Understand that after your offer is accepted, you will have an opportunity to get a professional home inspection done of the house, and if you don’t like what it reveals, you can terminate the transaction and move on, no harm no foul. In fact there are many protections for buyers in the standard Oregon sale agreements I will write about in a future post!
  15. Before you make the offer and do a formal home inspection, there are a few things you can do to “kick the tires,” such as:
    1. Does the house have a basement? Check it out in rainy weather to see if it’s leaking. Also check out the yard to see how it’s draining.
    2. How is the water pressure in the house? How is the water pressure with all of the taps open and the toilet flushing?
    3. Are there trees near the house? I love trees! Trees are great! However! If they are deciduous trees, you could be paying someone each year to clean your gutters. The roots could damage the foundation. And if you currently live in Portland, you’ve seen the damage falling trees can cause in ice storms. Tl/dr: trees = good, but be aware.
    4. Look for squeaky floors; make sure the floors are level.
    5. Look for signs of leaks around water fixtures, sinks, toilets, tubs and showers.
    6. Check out how old and how clean the appliances are. Would you be happy using them for the foreseeable future, or will you want to buy new ones? If so, make sure you understand the cost of what you want to put in.

If you’ve done everything listed above and are satisfied that you would be comfortable assuming ownership of the house, and understand the costs involved, go ahead and make an offer! A great real estate agent can help you get through these steps, will guide you through the transaction once your offer is accepted, and will help you get to the finish line and into your new Living Room. 

The Ins and Outs of a Home Inspection

Posted on by Lily Ray Wyss

The home inspection is one of, if not, the most important part of your home purchase.

It is where you will learn the most about the home you are buying, where you will have the most negotiating power, and honestly it is usually the most stressful part of the transaction.

But the more eduction you have up front and the more expectation setting we do the easier it will be and the calmer you will be.

Here are some things to know about the home inspection process:

🛠 The cost:

The general home inspection: $500-700*
Radon test: $120*
Sewer scope: $100 – $150*
Oil tank sweep: $100 – $120*

*Cost can vary by location and provider but this is the average I see.

*Which inspections you perform will depend on the type of home, location and other factors but these are the main inspections I recommend.

🛠 A home inspection is an overview of the homes condition:

A home inspector will be able to give you a great idea of the overall condition of the home, and will be able to pin point key problems, (but keep in mind there are some limitations as inspectors are human after all and don’t have X Ray vision).

🛠 Its a negotiation tool and a future to-do list:

After you receive your inspection report you can use it as a tool to negotiate with the seller and it will also be helpful in determining the future work you will need to do and want to do to the home.

As, and this is an important point, the seller will not correct every single item that comes up on your inspection report (unless you buy a new build home). Because on average there will be 40-70 items on that report, with a varying level of urgency and concern.
When you negotiate repairs with a seller you will want to focus on the top 1-4 health and safety concerns.

The rest of the items will typically be repairs you can do yourself (yay weekend hardware store trips) or ones you will hire out to contractors (which I will give you recommendations for).

Inspections can be an overwhelming part of the process, but that is why I am here as your buyers agent to help you through it all. If you want to meet and talk more about the home buying process reach out via my contact information below.

Just Listed: BRIDLEMILE MID-CENTURY STUNNER

Posted on by Living Room Realty
JUST LISTED
5000 SW Thomas St. Portland, OR 97221
Offered at $635,000
_________________________________________________________________________________________________
Picturesque Bridlemile mid-century home! Incredibly charming, meticulously maintained one level home on a huge 0.25 acre lot offers pristine oak hardwood floors, Anderson windows, custom cabinetry, modern light fixtures, and gas fireplace with built-ins. Large utility room off kitchen has storage and could be used as an office or transformed into future second bath. Wide parking area and 2-car garage with cabinetry offers plenty of room for a boat, RV or toys. Encapsulated crawl space, earthquake strapping, central A/C, newer furnace. Original exterior paint was stripped to reveal unblemished cedar siding. Oil tank recently decommissioned to latest DEQ standards. Fully fenced and private yard invites a ton of possibilities!
Solid mid-century home! Original siding stripped of lead paint to reveal unblemished cedar planks.
Living room with perfect oak hardwood floors, built-ins and gas fireplace
Dining room with new light fixture overlooks private, massive yard
Galley kitchen with eating nook and custom honey oak cabinetry
Utility room with beautiful cabinetry could be used as an office or site of future second bathroom
Large utility room opens to 2 car garage and backyard
Primary bedroom with beautiful flooring and french doors to closet with built-ins
Covered patio and massive, completely private and fenced yard has endless possibilities

 

 

2 bed + office | 1 bath | 1,309 sq. ft.
MLS# 24660718 | Taxes: $6,670.06 | Year Built: 1950 | Lot Size: 0.25 acres

Spacious Montavilla Craftsman with Period Charm

Posted on by Erika George & Kari McGee

410 NE 71st Ave

Portland, Oregon 97213

OFFERED AT $675,000

4 BED| 3 BATH | 3,036 SQ. FT.

MLS# 24661127| TAXES: $7,105

SPRING Portland Real Estate Market Update – In 90 Seconds

Posted on by Lily Ray Wyss

What we discuss:

Multiple offer situations returning to the market.

Seller motivation returning to the Portland Real Estate Market.

New predictions for interest rates.

If you are wanting to talk more about your 2024 home selling or home buying plans I am here for you. While this market is seeing higher activity overall, different areas/price points/types of homes have their own unique micro markets, so it’s critical that we talk one on one about what you can expect based on your own needs.

You can find my contact information below. I look forward to talking with you!

Just Listed | Completely Detached Luxury Condo in Hazelwood

Posted on by Sean Patrick O'Feery

1131 NE 106th

$499,000

3 bed | 2.5 bath | 1529 sq. ft.

MLS# 24349587 | Taxes: $5706.46 | HOA dues: $83/mo

Open Houses | Saturday, April 27th 11-1 | Sunday, April 28th from 12-2

Immaculately maintained, almost new home! High-end COMPLETELY DETACHED, single-family style condo built in 2021! This 3 bedroom, 2.5 bathroom home is the perfect spot for you and your plant friends to soak up the Portland sun. 

Special Features

  • Home Energy Score is a 9 out of 10 = low cost utilities
  • Luxury primary suite with bathroom and walk in closet
  • Low fee, well run HOA
  • A/C
  • Great floor plan with main floor powder room
  • Oak Laminate throughout
  • Well appointed kitchen with stainless appliances

Welcome!

The perfectly laid out living room has a gas fireplace flanked by a large window and slider that allows light to flood into the space. 

The open floor plan has a great flow between kitchen, dining and living room.

The sleek, high-end kitchen has a powered island prep space, stainless steel appliances, quartz countertops and plenty of storage.

The main floor is complete with a tucked away powder room.

Through the slider, you have easy flow between the house and the private, fully fenced patio.

The wide plank oak laminate floors also flow upstairs where you’ll find a luxurious primary suite with coved ceiling, walk in closet, soaking tub and shower. 

Primary en suite bathroom has a shower and soaking tub.

You’ll also find double sinks and a separate toilet room in the en suite bathroom.

Down the hall are two nicely sized bedrooms, a well-appointed hall bathroom and a laundry room. 

The attached, extra deep garage is right off the kitchen for easy access and gives space for storage or a workshop. 

Quiet, tucked away neighborhood with great access to services, the freeway, PDX airport and public transport at Gateway transit.

Come see this luxurious, affordable home today and make it your own. 

 

More photos here!

 

Sold Fast! Three’s Company!

Posted on by Bonnie Roseman

630 SE 33rd Ave

Portland, Oregon, 97214

OFFERED AT $650,000

3 BED| 3 BATHS | 2,326 SQ. FT. 

MLS# 24418616  | TAXES: $5,338

Just Listed: Dreamy Woodstock Ranch | 5515 SE 52nd Ave

Posted on by Olivia Rush

Income-producing, multi-generational, updated systems, oh my! This Woodstock ranch understood the assignment. Enjoy the full extent of all this home has to offer OR score a huge house hack win by renting out one level and living in the other.

The upstairs will make every purist’s heart go pitter patter with its original hardwoods, doors, and formica accents. It features 2 sizable bedrooms (think king beds) with ample closet space, bright living room with wood-burning fireplace, a spacious dining room,  kitchen w/ nook and SS appliances, plus a full bathroom with dual vanity. And while she’s retro radical as-is, there’s still opportunity for value-add upstairs…we all love us some sweat equity!

Downstairs is a whole new world, equal parts stunning and functional. Accessed from inside or separately from the exterior, your renters or guests will enjoy high ceilings, a spacious living area, tasteful kitchenette fit for a chef, bedroom with egress, stunning full bath, and washer/dryer! *The downstairs unit most recently rented furnished for $2500/month!*

Large fully fenced backyard, covered patio, firepit. The detached garage features a second stackable washer/dryer and utility sink, and could double as the perfect workshop. So many updates: HVAC, plumbing, sewer, radon mitigation…the list goes on. Just minutes to Woodstock Park, Toast, New Seasons, Heart Coffee, Proper Pint, Cloud City Ice Cream, and everything else that Woodstock has to offer. DREAMY. Bikescore 99, Walkscore 81.

OPEN HOUSES: Sat 4/20 + Sun 4/21, 11-1pm

3 bed | 2 bath | 2212 sq ft | 0.11 acres | built 1949

$649,000

Visit the property website for more info, photos, and video!

Just Listed: Overlook: The Quintessential Craftsman | 3803 N Massachusetts Ave

Posted on by Olivia Rush

Looking to live the Portland dream? Quintessential craftsman, tight-knit neighborhood pride, lovingly updated but not stripped of its charm, with hardwoods and porches and location to boot? Meet Massachusetts!

Everything about this home feels right. Soft earthy colors, big picture windows, and open but defined spaces give “home sweet home” vibes. Sunny and spacious living and dining spaces spill into each other through original pocket doors. The updated kitchen features stainless steel appliances, reclaimed butcher block counters, and a breakfast nook that could offer extra pantry space or a homework spot. Two ample bedrooms w/ high ceilings and a darling bathroom with penny tile round out the main level.

The primary bedroom upstairs feels like a retreat from the rest of the house and offers privacy, tons of storage space, and a nook for potential work from home office. The spacious partially finished basement with exterior entry features a second full bath (with sauna!) and roomy 4th bed/flex space, begging the question – what else could you do down here?! An exciting opportunity for its next owners.

Private backyard with mature landscaping, Asian pears and blueberries to pick, plus a Trex deck perfect for entertaining and dining al fresco. Detached garage for your gear. EV charger. High-eff furnace, newer water heater, electrical panel, and light fixtures. So many cozy spaces to curl up with a good book in this one.

All this in the charming Overlook Triangle, half a block to the nature patch and park with expansive views of the river, bridges, and Forest Park. Minutes to transit, Mississippi, and downtown. Bike score 93!

OPEN HOUSES: Sat 4/20 + Sun 4/21, 11-1pm

3 bed | 2 bath | 2790 sq ft | 0.11 acres | built 1910

Visit our WEBSITE to view more photos/video!

Just Listed: TIMELESS BEAUTY IN SUNNYSIDE!

Posted on by Living Room Realty
JUST LISTED
3752 SE Alder St. Portland, OR 97214
Offered at $985,000
_________________________________________________________________________________________________
Perched above the street, this four-level Foursquare home in a park-like setting is truly special. Classic character shines with separate entryway, original molding, vintage fixtures and wood floors throughout. Light filled spaces with large windows and total privacy in living and dining rooms. Elegantly remodeled kitchen in period-style with marble countertops and upgraded with an electric range. Eating nook with bar for seating, pantry, and adjacent powder room. The kitchen leads to an inviting and fully private, covered deck made with super durable ipe wood. Plenty of space with three large bedrooms and one bath on second floor plus an office. Private owner’s suite on upper 4th floor has vaulted ceiling, full bath and skylights. Full unfinished basement has an exercise room, shop, and exterior door for potential expansion. The fully fenced yard is zoned R2.5 with a wrap-around hedge, mature plantings, brick patio and potting shed. Off-street parking on flat and wide driveway. Recent updates include new water heater, furnace and A/C. Quiet and friendly spot, only blocks to world-class Laurelhurst Park, school, library, and an abundance of fun eateries and coffee shops.
Private Entry with Wrap-Around Porch
Generous Living Room with Gas Fireplace, Original Oak Hardwoods
Bay Window in Dining Room with Overlooking Yard has an Abundance of Natural Light
Updated Kitchen in Period-Style has Tile Floor, Marble Countertops
Large Eating Nook with Breakfast Bar, Powder Bath and Pantry
Primary Bedroom Sanctuary on 4th Floor with Vaulted Ceiling and Updated Bathroom
Ultimately Secluded Covered Deck with Tropical Ipe Wood
Oversized Yard with Shed, Brick Patio, Mature Landscaping
Fully Fenced Oversized Yard with Wrap-Around Laurel Hedge
Off-Street Parking on Wide and Flat Driveway

 

Ideally Located on Secluded Corner Blocks from Laurelhurst Park, Library and Belmont Amenities

4 bed + office | 2.5 bath | 3,314 sq. ft.
MLS# 24257655 Taxes: $9,836.58 | Year Built: 1907 | Lot Size: 0.15 acres

 

4 things to do before starting the home buying process

Posted on by Lily Ray Wyss

Buying a home in a competitive sellers market can seem intimidating. But with a good deal of preparation, education and the right real estate team to support you, you can be highly successful.

Here are 4 things you should do prior to shopping for homes:

⚫️ Meet with a lender ASAP.

Having an initial conversation with a lender about where you are financially, where you need to go and how to get there will save you so much time and headaches.

If you don’t have a go to lender, your realtor (aka me 🙋🏼‍♀️) can send you a few recommendations.

⚫️ Get really clear on your home wants and communicate them to who ever you may be buying with and with your real estate team.

This will also save you so much time as there is no sense in us looking at homes without a fireplace if a fireplace is a necessity to you.

⚫️ If you are starting the home buying process but don’t plan to buy for a while, look into opening a high yield savings account and put your downpayment funds and other expenses for the purchase in it.

That way you will have a specific place for saving up for your home purchase AND you will make great interest on the money adding to your funds to purchase.

⚫️ Connect with a realtor as soon as possible.

Even if you don’t plan to purchase a home for some time, the earlier you meet with a realtor the more time they have to educate you on the process.

I just met with a couple last week who don’t plan to buy till 2025 this had me excited as we have so much time to talk about the ins and outs of the home buying process, research the types of homes that could best meet there needs, and we can watch the market trends so they are clued into how homes in their area of interest are performing in the market.

If you are wanting to co-create your winning home buying strategy I am here for you. You can find my contact info below. I look forward to talking with you!

Just Listed: The Sabin Solution | 4035 NE 17th Ave

Posted on by Olivia Rush

Introducing the Sabin Solution: the answer to your real estate equation. Dream location + quintessential charm + flexible layout = one smart move.

Open living on the main, with gas fireplace, custom shelving, and newly refinished hardwoods. The functional kitchen with quartz counters, custom wood cabinets, SS appliances & 5-burner gas range was designed by a chef and featured in cookbooks! Two beds + full bath up, with ample closets + new combo ceiling fan/lights with dimmable and color temp options.

Downstairs is freshly painted and accessible from inside but could be a whole separate living space with its exterior entry. Options for multigenerational living or income potential? Chill out in the large family room with gas fireplace and built-in speakers, or set up your workspace or studio. Put up guests in style with the bedroom, en-suite bath with jetted tub and dual head walk-in shower, plus laundry and wet bar.

Your own private oasis awaits you out back. Extensive landscaping, paver patio, hot tub, gas hookup, raised garden beds, and sleek, spacious toolshed, all under a gorgeous magnolia canopy.

Other recent updates include exterior paint, gutters, radon mitigation, central AC, custom glass awning, and recessed lighting. Plus newer windows throughout and a Home Energy Score of 9!

All of this in idyllic Sabin, minutes to Whole Foods, Starbucks, the best of Alberta, Irving Park, and public transit. Bike Score 100, Walk Score 85!

OPEN HOUSES: Sat 4/6 + Sun 4/7, 11-1pm

3 bed | 2 bath | 1612 sq ft | 0.12 acres | built 1947

Visit the Sabin Solution’s PROPERTY WEBSITE to see more photos, video, and a 3D tour!

Portland Oregon Real Estate Market Update for March 2024

Posted on by Lily Ray Wyss

What we discuss:

How we are seeing higher real estate market activity across the board.

The benefits of this market for sellers.

How competition is high for buyers even though rates are still high.

The NAR settlement.

The Spring real estate market is in full swing and it shows in the numbers:

New listings were up 7% last month with 2,085 homes hitting the market.

Pending sales were up 16% with 1,742 homes going under contract.

Sold home activity was up 16% with 1,284 homes going to new homeowners.

Inventory of homes went back below 3.0 months down to 2.8 months.

The average sales price also did not move much with an average of $609,000.

Overall we have been trending back to a hot sellers market and that market is here.

Even with high interest rates (which unfortunately are predicted to stay at current levels through the summer) buyers are finding new motivation and are out there and ready to buy.

If you are a potential home seller this is great news.

When we take the proper steps to prep your home, stage it, market it and most importantly price it right (this is especially important with rates still being high) we have a higher likelihood of entering into a multiple offer situation than we have seen in the last year or so.

We should see buyer activity remain high through the rest of the Spring and early Summer but it will likely tapper off as we head further into the year. So time is of the essence to some degree if you are looking to take advantage of the current market.

If you are a home buyer or someone thinking of buying a home this year, competition certainly is back.

When we find a home you love, you can expect that you will likely be competing with at least one other buyer.

But don’t fret, we have a bunch of high level negotiation strategies we can use to help you compete and win.

Also, if you have seen the news lately, you have probably heard of the NAR (National Association of Realtors) Settlement regarding agent compensation and transparency. I talk a bit about it in the video above (I believe around minute 5) but if you have any questions and or want to talk about it in more detail I am here.

And as always, if you are wanting to talk more about your Spring home buying or selling plans I am here for you. While this market is seeing higher activity overall, different areas/price points/style of homes have their own unique micro markets, so its important that we talk one on one about what you can expect based on your own needs. You can find my contact information below.

Dogwood days of Milwaukie

Posted on by Jessica LeDoux

Milwaukie, OR was founded in 1847 and in 1962 was dubbed “The Dogwood City of the West,” a nickname proudly and officially pronounced by the City Council alongside the dogwood blossom, which was simultaneously declared the city flower. At the time it was said that Milwaukie was home to the oldest and largest Dogwood tree in the world. Though that particular tree no longer stands today, the city continues to celebrate its affiliation with this iconic tree and in 1985 even declared May 21st to be a city holiday—Dogwood Day. The city has an instagram account and encourages residents to celebrate their beloved neighborhood dogwoods (#milwaukiedogwood). 

 
Another fun tidbit—Milwaukie is also the birthplace of the Bing cherry, arguably the most ubiquitous sweet cherry in the U.S. 

The parks and green spaces of Milwaukie

Posted on by Jessica LeDoux

Milwaukie, Oregon is rich with a variety of parks and green spaces that cater to the outdoor enthusiast, families, and individuals looking to connect with nature. Here are some notable parks in Milwaukie:

1. Milwaukie Riverfront Park: This scenic park sits along the banks of the Willamette River, offering stunning views and a tranquil atmosphere. It features walking paths, picnic areas, and a boat ramp, making it an ideal spot for leisurely strolls, picnics, and water activities.

2. Spring Park: Known for its lush greenery and picturesque setting, Spring Park is a popular destination for outdoor recreation. It has playgrounds, sports courts, walking trails, and a disc golf course (a popular Oregon pastime).

3. Dogwood Park: Nestled in a residential neighborhood, Dogwood Park is a charming community park with amenities for all ages. Visitors can enjoy playground equipment, sports fields, picnic areas, and a dog park, making it a favorite spot for families and pet owners alike.

4. North Clackamas Park: This expansive park offers something for everyone, from sports enthusiasts to nature lovers. It features athletic fields, tennis courts, a skate park, and walking trails, as well as a disc golf course and a BMX track. With its diverse range of amenities, North Clackamas Park is a hub of recreational activity year-round.

5. Century Park: Situated near downtown Milwaukie, Century Park provides a peaceful retreat from the hustle and bustle of city life. It features open green spaces, walking paths, and a playground, making it a serene oasis for relaxation and play.

6. Trolley Trail: While not a traditional park, the Trolley Trail deserves a mention for its significance in Milwaukie’s outdoor landscape. This scenic trail follows the path of the historic Portland Traction Company railway line, offering walkers, joggers, and cyclists a picturesque route through the city’s neighborhoods and natural surroundings.

 
SEE…
 
Embracing the Tranquil Charms of Milwaukie, Oregon

Embracing the Tranquil Charms of Milwaukie, Oregon

Posted on by Jessica LeDoux

In 2021, my life took an exciting turn as my husband accepted a position at Clackamas Fire, leading us to make the pivotal decision to relocate to Milwaukie, Oregon. Little did I know then that this quaint town nestled in the heart of the Pacific Northwest would capture my heart.

A multitude of factors drove our decision to move to Milwaukie. One of the primary draws was the promise of expansive lots, offering ample space for our family to thrive and grow. Coming from a bustling city, the prospect of a quieter community was incredibly appealing, providing a welcome respite from the hustle and bustle of Portland.

Accessibility was another key consideration in our relocation. Situated just south of Portland, Milwaukie boasts excellent connectivity, making it easy to commute to neighboring areas while still enjoying the tranquility of suburban living. Despite its proximity to the city, Milwaukie maintains its distinct identity, offering a unique blend of urban amenities and small-town charm.

One of the greatest joys of living in Milwaukie is its proximity to nature. The city is full of amazing green spaces and easy access to outdoor adventures like paddle boarding along the Willamette or floating the Sandy River.

For us, Milwaukie has become home and has offered the perfect blend of nature, space, and community.

 
SEE… 
 
Notable new developments in Milwaukie

Notable new developments in Milwaukie

Posted on by Jessica LeDoux

MILWAUKIE, a city just outside of Portland in Clackamas County (with the exception of a small portion of the city in Multnomah County), is a suburb known for its larger lots, smaller town demeanor, and affordability as compared to surrounding neighborhoods. For a long time Milwaukie has had “up and coming” written all over it, a fate recently confirmed by the addition of the Milwaukie New Seasons, the development of which has long been viewed as a major indicator of increased investment in a community.

Another upcoming welcome addition to the neighborhood is pFriem Family Brewers, anticipated to open in April of 2025. For buyers looking for close proximity to amenities such as shopping, pubs, and eats, Milwaukie has often not been on the radar. With these two big changes to the city, Milwaukie’s reputation as being at a social remove is evolving alongside its desirability and housing costs.

 

SEE…
Embracing the Tranquil Charms of Milwaukie, Oregon
The parks and green spaces of Milwaukie
Dogwood days of Milwaukie

PORTLAND LIFE: SPRING BREAK IS HERE!

Posted on by Aryne + Dulcinea

SPRING BREAK!

Spring is here and whether you are laying low or taking a small road trip or grand vacation, it’s a great time to enjoy the great outdoors. For the last few months, we’ve been cozying up indoors with our loved ones, and now it feels good to get out! Take a look below at some fun ways to take a break this spring.

   

PORTLAND’S NATURAL AMENITIES

Portland proper and Oregon are teeming with amazing sites and sounds, thrills and natural beauty, great food, and fantastic entertainment. Oregon wine country, the mighty Pacific Ocean and majestic Columbia River Gorge, Mt Hood, and the high desert landscapes of central Oregon are just a handful of the wonders our state has to offer! No matter what outdoor adventure you have in mind, Portland is just a hop, skip, and jump away from all of these great destinations!

.

PORTLAND GARDENS

Looking for a fun getaway without actually leaving home?
Visit one of Portland’s gorgeous public gardens!
Trip Advisor has a fantastic list of twelve local gardens that are perfect for strolling,
picnicking, falling in love, and more!
Discover the complete list HERE.

#portlandrealestate #toprealestateagentspdx #realestateportland #livingroomrealty #ADUexperts #ADUspecialists #ADUconsultation #realestateagent #topagents #bestportlandrealtor #buyingahouse #sellingyourhome #buyingandsellingrealestate #investmentproperty #firsttimehomebuyer #paringdown #emptynesters #excellentclientcare #bestexperience #propertymavens #dulcineamyersnewcomb #aryneblumklotz #buying #selling #wheresyourlivingroom #movingtoportland #relocation #lovewhereyoulive #buyyourdreamhome

About Us: Over the course of their professional partnership, Aryne + Dulcinea have helped hundreds of clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

Celebration of Sunnyside

Posted on by Karim Alaeddine

SUNNYSIDE – A relatively small geographic area in Southeast Portland, surrounding Sunnyside Environmental School. Dense with character, color, flavors, vibes and great people, Sunnyside is an old-school neighborhood where the streets fill up when it’s sunny, gatherings pop up in the parks, 100 person bike rides cruise our streets. I really love it. My family has called this neighborhood home since 2009. Our kids grew up in the school classrooms, on the playgrounds.

Hawthorne to Stark, from the 20s to the 40s… There are only about 200 square blocks that can celebrate themselves as Sunnyside.

Sunnyside Environmental School – As a Sunnyside parent, I have endless gratitude for the teachers and staff at SES. They are advocates, friends, guidance counselors and some of the most inspired and committed people I’ve known.

Powell’s Books and the other Hawthorne shops have been on our weekly circuit for 15 years.

Restaurants: Indian & Lebanese bites, killer pizza & fried egg sandos, Turkish coffee & acai bowls. All the goodies…

SEE…

Eating your way around the Sunnyside neighborhood

Posted on by Karim Alaeddine

Eating your way around Sunnyside neighborhood

 

 

Since 2009, our family of four has been digging into delicious meals all over Sunnyside, Portland – we’ve tallied up around 640,000 of them! From cozy cafes to mom-and-pop joints, we’ve found our favorite spots for every occasion. Whether it’s a laid-back lunch or a special dinner out, these restaurants aren’t just places to eat – they’re where we’ve shared laughs, caught up with neighbors, and enjoyed some seriously tasty grub. Here are just a few of my family’s favorite places to eat in Portland’s Sunnyside neighborhood.

 

Hoda’s – Classic Lebanese Feeds My Soul

Located at the corner of SE Belmont and 34th, Hoda’s is more than just a restaurant; it’s a slice of home for those seeking comforting Middle Eastern flavors. From the first bite of their falafel to the last taste of their lamb shawarma, each dish feels like a warm embrace. But it’s not just the food that keeps drawing us back – it’s the hospitality and sense of community that radiates from every corner of Hoda’s. In a city known for its culinary scene, Hoda’s stands out as a place where you’re not just a customer, but a cherished guest welcomed with open arms.
 

Bluto’s – New Kid On The Block

Opening in early 2022 and located at the corner of SE Belmont and Se 29th, Bluto’s brings the vibrant flavors of Greece to the Pacific Northwest. With an eclectic menu showcasing traditional Greek dishes with a modern twist, every bite at Bluto’s is a delightful journey through Mediterranean cuisine. But it’s not just about the food – Bluto’s warm and inviting atmosphere creates a dining experience that’s both comforting and unforgettable.
 

Pad Thai Kitchen – Incredible Staff

Pad Thai Kitchen serves up authentic Thai cuisine that’s as flavorful as it is comforting. With traditional dishes like Pad Thai and Green Curry, ensuring each bite is exceptional. Beyond the food, its cozy atmosphere and consistently friendly service make it the ideal spot for a taste of Thailand in Portland. Whether you’re a Thai food enthusiast or simply seeking a satisfying meal, Pad Thai Kitchen provides an unforgettable dining experience that keeps patrons returning for more.
 

Waffle Window – The Kids #1 Choice

Waffle Window is a family-friendly spot, perfect for breakfast enthusiasts and sweet-toothed patrons. Since its inception, it has served up creative waffle creations, from classic Belgian waffles to indulgent savory options. With its cozy atmosphere, friendly service, and grab-and-go options, Waffle Window offers a memorable dining experience for families to enjoy together.

 

The Hazel Room – Tea & Conversations

The Hazel Room isn’t just a restaurant; it’s a cozy spot for tea lovers and those seeking meaningful conversations. With its welcoming atmosphere and comfortable surroundings, The Hazel Room is the perfect place to unwind with a cup of tea and engage in unhurried chats. Offering a diverse selection of teas, from classic blends to unique herbal varieties, there’s something to suit every taste. Whether you’re catching up with friends or enjoying a quiet moment of reflection, The Hazel Room provides the ideal setting.
 

Harlow – Health Focused

Harlow serves delicious plant-based cuisine, catering to health-conscious foodies. Since its inception, the restaurant has been dedicated to crafting vibrant, nourishing dishes using locally-sourced, organic ingredients. From hearty grain bowls to refreshing smoothies, each menu item is carefully crafted for a satisfying dining experience. Whether you’re a devoted vegan or simply looking to add more plant-based meals to your diet, Harlow offers a diverse menu to suit all tastes. With its cozy atmosphere and commitment to sustainability, Harlow invites diners to enjoy the flavors of the Pacific Northwest while nourishing both body and soul.

 

Straight From New York Pizza – A Favorite For The Kids

Straight From New York Pizza (SFNY) is a local favorite for those craving a taste of authentic New York-style pizza. Whether you’re looking for a whole pie to share with friends or a quick slice on the go, SFNY offers both options to satisfy your cravings. With a deep menu boasting a variety of toppings and specialty pizzas, there’s something for everyone. With its commitment to supporting local businesses and neighborhoods, SFNY not only offers delicious pizza but also contributes to the vibrant community spirit of Portland.

 

Looking To Learn More About Sunnyside?

Sunnyside Environmental School

Posted on by Karim Alaeddine

As a Sunnyside parent, I have endless gratitude for the teachers and staff at SES. They were advocates, friends, guidance counselors and some of the most inspired and committed people I’ve known.

From the early days, SES was built with focus; children are pushed to develop the academic and social-emotional skills that lead them to be critically conscious, curious members of the larger community. Interconnectedness and environmental justice are core to the school’s philosophy. Read more about their mission HERE.

SEE…

Sunnyside and surrounding THEATERS

Posted on by Karim Alaeddine

Multiple vintage theaters flank the Sunnyside neighborhood. And there’s no way you don’t run into others from the ‘hood at the Baghdad, Laurelhurst or Cinemagic while you’re there. McMenamins has spent decades preserving old Portland buildings with theaters and legacy bars like Greater Trumps. Old Portlanders will complain about the fries (or the price of the tots), but the spaces are as much a part of Portland as the White Stag/Old Town sign.

From the days of Hawthorne Street cars:

Hawthorne Line, circa 1920 | Vintage Portland

SEE…

Curb Appeal: The Alberta Arts District

Posted on by Aryne + Dulcinea

CONCORDIA/VERNON: THE ALBERTA ARTS DISTRICT

At the heart of the Alberta Arts District, there is access to some of Portland’s most exciting establishments. Concordia and Vernon, the two neighborhoods that make up the majority of the Alberta Arts District, are the perfect neighborhoods for the active urbanite. Concordia ranks 34th and Vernon 15th most walkable neighborhood in Portland and has an average Walk Score of 83. Residents can walk to more than 25 restaurants, bars, and coffee shops within five minutes.

THE MARKET

Currently, with 34 total properties on the market, Concordia/Vernon is Northeast Portland’s hottest neighborhood. This aligns with recent real estate trends, as the market continues to heat up during the transition into spring. The average prices for Concordia/Vernon have a median list price of $499,900 and 15 days on the market.

TOP DESTINATIONS

Dinner: Gabbiano’s

Brunch: Petite Provence, Tin Shed Garden Cafe

Coffee & Tea: Proud Mary Cafe, Bardo Tea

Nightlife: Bar Cala , Radio Room

Arts and Culture: Alberta Rose Theatre, Last Thursday

Parks: Alberta Park, Fernhill Park

Click to learn more about the Alberta Arts District businesses

 

COMPARABLE NEIGHBORHOODS (MEDIAN PRICE)

Sabin

Average Home: $740,000

King

Average Home: $630,000

Alameda

Average Home: $798,000

Irvington

Average Home: $897,500

Laurelhurst

Average Home: $799,500

#portlandrealestate #toprealestateagentspdx #realestateportland #livingroomrealty #ADUexperts #ADUspecialists #ADUconsultation #realestateagent #topagents #bestportlandrealtor #buyingahouse #sellingyourhome #buyingandsellingrealestate #investmentproperty #firsttimehomebuyer #paringdown #emptynesters #excellentclientcare #bestexperience #propertymavens #dulcineamyersnewcomb #aryneblumklotz #buying #selling #wheresyourlivingroom #movingtoportland #relocation #lovewhereyoulive #buyyourdreamhome

About Us: Over the course of their professional partnership, Aryne + Dulcinea have helped hundreds of clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

March Magic: Attracting and Feeding Wild Birds in Your Portland Backyard

Posted on by Lydia Hallay

Welcome to March Magic for Bird Lovers in Portland! As the city gears up for spring, it’s the perfect time to transform your backyard into a haven for wild birds. Whether you’re a seasoned birder or just starting out, here’s your ultimate guide to attracting and feeding wild birds in Portland during March.

1. Choose the Best Bird Feeders

Selecting the right feeders is key to attracting diverse bird species to your backyard. Tube feeders cater to smaller birds like finches and chickadees, while platform feeders are ideal for ground-feeding species such as sparrows and juncos. Don’t forget suet feeders for woodpeckers and nuthatches!

2. Opt for Nutritious Bird Food Blends

Offer a diverse menu to entice various bird species. Invest in high-quality birdseed blends containing sunflower seeds, millet, and cracked corn. Black oil sunflower seeds are a favorite among many backyard birds, while nyjer seed attracts finches like goldfinches and pine siskins. Backyard Bird Shop is one of my favorite local resources for all things bird-related.

3. Provide Fresh Water Daily

Even in chilly March, wild birds need access to clean water for drinking and bathing. Invest in a birdbath or shallow dish and ensure it’s filled with fresh water daily. Consider adding a heating element to prevent freezing during cold spells, ensuring year-round water access.

4. Create Shelter with Native Plants

Native plants provide essential shelter and habitat for wild birds. Plant native shrubs and trees like Oregon grape, serviceberry, and Pacific wax myrtle to offer protection from predators and additional food sources.

5. Maintain Cleanliness for Bird Health

Regular maintenance is crucial for the health of your avian visitors. Clean feeders and water sources regularly to prevent disease spread. Remove moldy or spoiled food promptly, and keep the feeding area clean by raking up fallen seed hulls and debris.

6. Be Patient and Observant

Attracting wild birds requires patience and observation. Spend time observing bird behavior from a distance to avoid disturbance. Keep a journal to record species encounters and track their visits over time.

Conclusion

As March brings longer days and warmer weather to Portland, it’s the perfect time to welcome back our feathered friends. By following these tips for attracting and feeding wild birds in your backyard, you can create a sanctuary that brings joy and wonder to your life. Get ready to embark on a birding adventure right in your own backyard!

Portland Oregon Real Estate Market Update for February 2024

Posted on by Lily Ray Wyss

Spring isn’t on its way… it is fully here. At least within the world of real estate. 

New listings went up by a whopping 89% last month. 

With pending sales trailing behind with an increase of 14%. 

Sold home activity decreased by 15%. Though that is more exemplarily of the market we are coming out of as sold home data, by its nature, always lags. 

We did see home inventory go up to 3.2 months which is great news for home buyers who have been waiting to see more options hit the market! 

Here is what I am seeing in the market and hearing from other realtors: 

It’s HOT out here. 

One realtor in my office mentioned a listing her clients wrote an offer on that got 7 offers and she estimates that the home went pending at at least $50,000 over asking. 

Another realtor mentioned 30+ parties coming through her listing. 

Not every listing is getting this level of activity but it does show that we are heading in the right direction towards a hot market. 

Here’s how you can make the most out of this new market as a future home seller: 

Price is going to be key.

As the market heats up, it will be tempting to list your home at your ideal dream price. But while things are getting competitive on the buyer side, not every listing is getting intense action. 
 
It is really key that we price your home at a price that works for you, but also entice buyers and gets the most amount of people through your door. 

We want your house to be the one that gets 30+ showings. 

We will also implement a high-level strategy for marketing (this is where I come in) and a strategy to properly prep your home so it shines. 

Here is how you can be successful as a buyer in this new market: 

Preparation, education, and strategy will be key. 

If you are reading this email you are already doing great when it comes to the preparation and education portion. 

Having a high level of knowledge about market trends will be extremely helpful. 

And the same thing goes when it comes to preparation. Getting your finances in order with a lender before shopping will be needed in this fast-paced market. 

And then strategy. As we enter a market where you may write an offer on multiple homes before getting an accepted offer, it’s important that we set expectations of this new market reality and that we are being super strategic about what homes we look at and how we write our offers. 

If you want to talk more about your 2024 home buying or selling plans I am here for you. While this market is seeing higher activity overall, different areas/price points/style of homes have their own unique submarkets, so it’s important that we talk one-on-one about what you can expect based on your own needs. 

Contact me below and let’s co-create your custom home buying and or selling strategy.

Sellwood Cuteness Alert!

Posted on by Erika George & Kari McGee

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

 

 

Portland Home Buying Tips, Inspired by Hermit Crabs

Posted on by Lydia Hallay

In Portland, Oregon, where creativity thrives and individuality is celebrated, the journey of a homebuyer can mirror that of the humble hermit crab, hunting for a shell along the rugged Oregon coast. As Portlanders embark on their house-hunting adventures, they can draw inspiration from the coastal creatures that navigate their surroundings in search of the ideal shell. Here’s what Portland home buyers can glean from the wisdom of hermit crabs:

  1. Embrace Unconventional Spaces

Much like the eclectic spirit of Portland’s neighborhoods, hermit crabs are known for their ability to thrive in unconventional spaces. They’re not bound by traditional norms and are willing to explore hidden gems tucked away in unexpected corners. Portland home buyers, too, can embrace the city’s diverse architectural landscape, considering everything from cozy bungalows in Alberta Arts District to mid-century gems at the base of Mt. Tabor, each offering its own unique charm and character.

  1. Size Isn’t Everything; Character Counts

In a city where individuality reigns supreme, Portlanders understand that size isn’t everything when it comes to finding the perfect home. Just as hermit crabs prioritize shells with character and charm over sheer size, Portland home buyers appreciate the quirks and nuances of older homes with history and personality. From craftsman cottages adorned with lush gardens to modern masterpieces  nestled in the hills, it’s the character that truly makes a house feel like a home in Portland.

  1. Location with a Dash of Quirkiness

Portland’s neighborhoods are as diverse as they come, each with its own distinct vibe and personality. Whether it’s the bustling energy of Southeast Division Street or the laid-back atmosphere of Laurelhurst, Portland neighborhoods reflect the unique interests and lifestyles of the people who live there. Like hermit crabs scouring the coastline for shells in prime locations, home buyers in Portland seek neighborhoods that offer a perfect blend of convenience, community, and, of course, a dash of quirkiness.

  1. Embrace Sustainability and Green Living

Portland has long been recognized as a pioneer in sustainability and green living practices. Just as hermit crabs instinctively understand the importance of protecting their environment, Portland home buyers are drawn to eco-friendly homes that minimize environmental impact and promote sustainable living. Whether it’s a LEED-certified home in the Hawthorne District, or craftsman with a 10/10 energy score in Sellwood, Portlanders are committed to reducing their carbon footprint and preserving the natural beauty of the Pacific Northwest.

  1. Lean on Local Experts

In a city where local expertise and community connections are highly valued, Portland home buyers can benefit from leaning on the knowledge and guidance of a local real estate professional who knows the ins and outs of Portland’s diverse neighborhoods. Whether you’re new to town or just new to the neighborhood, it can be helpful to work with a Realtor who’s familiar with all parts of the metro area, and sees the big picture of the competitive market.

In the end, just as hermit crabs find sanctuary in the perfect shell, Portland home buyers can find solace and belonging in a place they can truly call their own. With a spirit of adventure, a dash of quirkiness, and a deep appreciation for all things unique, Portlanders can embark on their house-hunting journey with excitement and optimism, knowing that the perfect home is waiting to be discovered in the heart of the Rose City.

Looking for Portland homes for sale? Whether you’re in search of Portland real estate tips, lender connections, or a Realtor who can be your expert guide to the city, I’d love to help. Reach out today!

A Real Estate Market Update in Less than 90 Seconds

Posted on by Lily Ray Wyss

What we discuss:

The Spring Real Estate Market already coming to town.

How home buyers can be set up for success in a hot market.

And what opportunities this new market will have for home sellers.

Want to co create your winning home buying and or home selling strategy together? Let’s chat. Reach out at the contact information below.

Real Estate Market Forecast for 2024

Posted on by Lily Ray Wyss

No one knows for certain what 2024 has in store in the world of real estate. But in the video above we discuss a few widely predicted trends.

Here are a few highlights:

Interest rates are already trending downwards (whoohoo).

With this we are already showing higher motivation from home buyers which will continue to increase.

Hopefully, this means we will also see higher motivation from home sellers (as sellers notice the higher demand from buyers). Leading to more homes and more options to the market.

Meaning we can predict an active Portland Oregon Real Estate Market for most of 2024. We could potentially see the market slow down in the second half of the year, if we follow trends from past election years.

Want to discuss your potential home buying or home selling needs for 2024? I would love to connect. Reach out and we can set up a time.

You can contact me below or reach me at lily@lilyrayres.com.

New Year, New House: Real Estate Resolutions

Posted on by Lydia Hallay

As we bid farewell to 2023 and embrace the opportunities that lie ahead, many are considering significant life changes. For some, this includes buying or selling a home. Whether you’re a prospective buyer or seller, setting New Year’s resolutions can help guide you toward a successful real estate journey in 2024. Here are three resolutions that can pave the way for your real estate dreams to become a reality.

Resolution 1: Define Your Dream Home Criteria

Embarking on a real estate journey without a clear vision of your dream home can be overwhelming. This year, make it a priority to define your criteria. Consider factors such as location, size, style, and amenities that matter most to you and your family.

Reflect on your lifestyle, future plans, and any specific needs or preferences. Are you looking for a midcentury ranch with space for entertaining? A charming bungalow with coffee shops nearby? By identifying your priorities, you’ll streamline your search, making the entire process more efficient and enjoyable.

Research neighborhoods, visit open houses, and explore different property types to gain insights into what resonates with you. As you refine your vision, you’ll be better equipped to communicate your preferences and narrow down options that align with your dream home.

Resolution 2: Set Clear Financial Goals and Budgets

Financial planning is a key aspect of any real estate endeavor. Whether you’re saving for a down payment, assessing your affordability, or planning for home improvement projects, setting clear financial goals should be a top priority.

Start by creating a realistic budget that considers not only the property’s purchase price but also additional costs such as closing fees, moving expenses, and potential renovation costs. If you’re selling, determine your ideal selling price and calculate potential profits or losses. Being financially prepared will not only streamline the process but also alleviate stress during the buying or selling journey.

If you’re not sure where to begin, talking with a financial planner and a lender is a great first step. I’m always happy to recommend resources. Don’t hesitate to send me a message.

Resolution 3: Connect with a Real Estate Agent

Having a knowledgeable and experienced professional by your side can make a world of difference. Make it a resolution to find and collaborate with a reputable broker who understands the local market intricacies, has a proven track record, and can guide you through the complexities of a transaction.

A skilled agent can help you navigate negotiations, provide valuable market insights, and ensure a smooth process from start to finish. Their expertise can be particularly beneficial for first-time buyers or sellers, making your real estate journey more efficient and less stressful.

Interested in chatting more? Whether virtually or over a cup of coffee/tea, I’d love to talk more about how I can best serve your needs as a buyer/seller.

Embarking on a real estate journey in the new year is an exciting opportunity for growth and change. By setting these three New Year’s resolutions—defining your dream home criteria, setting clear financial goals, and working with a professional real estate agent—you’ll position yourself for success in achieving your homeownership or selling goals in 2024.

Here’s to a year filled with exciting real estate opportunities and the fulfillment of your housing dreams!

Peppermints and Furnace Filters

Posted on by Veronica Powell

 

 

This holiday season I promised myself that despite the typical holiday chaos, I would try to take some time for myself and do something fun that I’d been putting off.  Binge watching the Great British Bake Off inspired me to finally attempt  some  Peppermint Meringues I’ve always wanted to try making. They ended up being super easy and delicious!  I’m looking forward to taking this newly acquired meringue expertise to the next level by attempting a  Boccone Dolce made of meringues, fruit and whipped cream. Yum!  If I can master this in time for a birthday party I’m hosting, it would be such a win!

If you’ve been putting off something fun (i.e. baking) or maybe even something not so fun (i.e. changing your furnace filter) getting these little projects done before the 1st of the year can lead to some good momentum as we head towards New Years Resolution time.

If you have bigger projects on your resolution list, like buying or selling a house,  I’d be happy to help you accomplish that goal by breaking that down into manageable steps.  As with any project,  baby steps (i.e. Peppermint Meringues) can be stepping stones to achieving the bigger goal (Boccone Dolce for that upcoming birthday party!).

Wishing you success on whatever is on your New Years Resolution list.  May your accomplishments bring you peace and joy in the New Year!
Veronica Powell
Veronica@LivingRoomRE.com
503.936.3475

The 12 Steps to Buying a Home

Posted on by Kelsey Burkett

Buying a home is an exciting milestone that can represent a step towards stability, investment, and creating a space that truly feels like your own. However, navigating the intricate process of home buying can often feel like a daunting task, filled with complex procedures, paperwork, and unfamiliar terms. Knowing where to begin, and how the process is going to unfold, can feel overwhelming.

Whether you’re a first-time homebuyer, looking to upgrade or downsize your current home, or you’re ready to invest – refreshing your understanding of the steps involved can make all the difference. The same is true in working with someone you trust to guide you through the process. A Realtor’s job is to provide you with the knowledge and confidence to make informed decisions throughout each stage of the journey, and most importantly, to negotiate on your behalf to ensure you reach your goals and vision.

Below is a simplified view of the home buying process. It details what you can expect along the way to a smooth and enjoyable experience.

 

Ready to explore buying or selling a home? I’d love to hear more. You can reach me at kelsey@livingroomre.com, @kcb_portland or 971.371.0203.

 

 

From North Portland to the Westside: A New Neighborhood for Patrick & JoAnne

Posted on by Beth Benner

I am so excited to welcome my clients Patrick & JoAnne home to their beautiful new house in SW Portland!

These clients began with a clear vision, searching for the perfect Westside house that they could call home. The initial excitement led us to some incredible houses, & after a promising start with a house that caught their hearts, reality hit hard when our first offer wasn’t accepted. Undeterred, we continued our search, evolving our criteria & areas of interest to focus on move-in ready one-level homes.

We saw some more great properties & wrote a couple of additional offers but nothing quite compared to that first house. Through it all, these two kept their spirits high & never gave up on the dream of their perfect forever home.

And then, finally, WE FOUND IT! We stumbled upon a property that checked nearly every box on their original list. The excitement was palpable & we knew that we had to act fast to beat the strong competition for a coveted one-level home. While the property had been sitting on the market for a while, it had just had a significant price reduction, so we knew it was an opportunity we couldn’t ignore.

Negotiations began & my team & I worked tirelessly to secure the deal. The outcome was worth every moment of anticipation. Not only did my clients get more home for their investment compared to previous contenders, but they also gained an incredible backyard space with a pool! This home was well worth the wait & Patrick & JoAnne are ready to settle in.

This transaction was a testament to the power of resilience, strategic planning, & teamwork. Consistent communication with the listing agent was crucial, from initial negotiations to repair discussions & wrapping up the final details. We also made sure that we were timely in scheduling showings to ensure that we were some of the first through the door. And when we found the one, we acted fast, gathering info & building our strategy as a team.

I am so honored to be a part of this incredible chapter in Patrick & JoAnne’s lives. Now they just have to wait patiently for summer to come so that they can host their first pool party! Congrats to this amazing couple!

Let us Discuss the POSITIVES of today’s Real Estate Market.

Posted on by Lily Ray Wyss

Current real estate market conditions have made home affordability tough.

But with it always being my goal to provide well-rounded information about current real estate conditions so you can make empowered decisions, let’s talk about the opportunities in today’s market.

Home prices are generally lower:

Just yesterday I got a first-time home buyer under contract on a townhome. Looking at comparable properties, back in May a home with the exact same specs in the same community sold for over 30k more.

Oh, and we also got the buyer a closing credit paid by the seller to temporarily lower his interest rate.

Speaking of which…

Seller-paid closing credits:

On the majority of transactions I have helped buyers with this year, we have been successful in negotiating a large credit paid by the seller to cover a portion of the buyer’s closing costs and or temporarily buy down the buyer’s interest rate.

Contractor response time:

Right now booking inspections and contractor appointments in a timely manner has been highly dependable. With the market being generally slower, inspectors and other contractors have way better availability than super hot markets. This week we got two sets of buyers under contract and I was able to get their inspections scheduled for the next day in both cases.

This might seem like a small benefit, but getting to know the condition of the home you are buying the next day vs waiting a week is a huge stress reliever and allows us more time for fact-finding and negotiating.

Better negotiating power:

With homes sitting on the market for longer periods of time it’s made home sellers more willing to negotiate with home buyers on things like contract terms and repair needs.

You can hold on to your contingencies: In past real estate markets when things got super competitive for home buyers they became pressured to give up certain contingencies in order to win the home.

Look the best time for you to buy a home is when you are ready.

But if you are waiting to buy until interest rates drop, just know that so are 66% of other home buyers according to a US News Survey. So it could be worth us having a conversation about the opportunities in today’s market.

Either way, I am here for you. If you would like to discuss what it would look like to buy a home this winter or in 2024 I am here for you.

Just Listed | Sunny Sabin Ranch | $485,000

Posted on by Sean Patrick O'Feery

Sunny Sabin Ranch

$485,000

4231 NE 11th Ave 

Portland, OR 97211

Come see this charming ranch with the perfect open layout.  Large east facing windows flood the living space and kitchen with light in the mornings. Cozy eat in kitchen nook for morning coffee and taking in the neighborhood activity. This home has fresh exterior paint, new heat pump for heating AND cooling, and a new roof. Beautifully renovated kitchen and bath with an eye toward retaining its period charm. Sweet vintage range in excellent condition and countertops made from reclaimed wood from the house. So much has been done on this home and there are a few projects left for you to add your personality. Fully fenced side yard, partial basement with access through garage. Large attached one car garage off kitchen has potential for future expansion. Corner lot has possibilities for adding on or ADU, buyer to do their own due diligence. Excellent location close to Alberta, Mississippi, Williams and Fremont business districts. 

2 bed | 1 bath | 1238 sq. ft.

MLS# 23431614 | Taxes: $2,389.85 | Lot Size: .10 Acre

 

Real Estate on Stolen Land: Building a More Inclusive and Equitable Future

Posted on by Lydia Hallay

I love helping clients achieve their dreams of home ownership. But the land I practice real estate on has a painful history. It was stolen from Indigenous communities through colonization and displacement. The history of real estate is riddled with systemic racism that has resulted in housing disparities in our communities. Acknowledging past (and current) oppression on the land we realtors work on is important. So is using our power and influence to actively contribute to just society and a more inclusive and equitable future.

Acknowledgment Matters

Have you incorporated a land acknowledgment statement into your realtor profile or website? Land acknowledgements aren’t just symbolic. They’re a powerful step towards reconciliation and change. As realtors, we make a living helping folks buy and sell property. Thus, it’s important to recognize the history of racism (and sexism, homophobia, and transphobia) in this industry and pay tribute to the Indigenous peoples who have cared for this land for centuries.

The Portland Metro area rests on the ancestral lands of the Cowlitz, Multnomah, Kathlamet, Clackamas, Tumwater, Tualatin Kalapuya, Wasco, Molalla, Watlala, Bands of the Chinook, and so many other nations who made this area their home. In addition to the federally recognized tribes mentioned, there are numerous “unrecognized” tribes and Indigenous groups whose stories are also important.

Acknowledging our failures and flaws (collectively and individually) opens the door for us to do better.

Advocate for Change

As realtors, we advocate for our clients all the time. We can also advocate for policies and initiatives that address housing disparities and promote equitable access to housing for all. Whether marching in the streets, engaging in conversation with our clients/peers, or in lobbying elected decision-makers- even small actions turn the wheels of justice ’round.

Providing direct support to organizations that serve and uplift historically marginalized/oppressed communities is one way we as Realtors can address injustice. In Portland, we’re fortunate to have organizations like Native American Youth and Family Center (NAYA) and Q Center (among many others) doing critical work to build more inclusive and equitable communities. I give a portion of every paycheck to Taking Ownership PDX and donate to organizations and mutual aid efforts in my community. I’m proud to hang my license at Living Room Realty, a Certified B-corp. The brokerage gives 5 percent of annual profits to local charities.

Embrace Learning & Growth

No one gets it right all the time. That’s okay. We can all try to do better- as professionals in our industry, as members of our communities, and as human beings trying not to be assholes in our short stint here. Self-reflection is essential- as is being willing to show up authentically (and politically) in our professional lives.

As a broker body, we have a responsibility to understand the racist history of our industry, including redlining policies, discriminatory lending practices, and the displacement of communities of color. There are lots of resources to learn from- like this great podcast about the history of racism and housing discrimination in Portland. We should know whose land we’re on. Here’s a great resource, if you’re not quite sure.

Stronger Together

It can feel scary to advocate for progressive change in our communities, our cities, and our industry. Even though I’ve spent most of my adult life engaged in justice work, I still feel anxious putting posts like this out into the world. What if I get called out for not being radical enough? What if my words aren’t perfect? What if clients decide not to work with me? What if I lose followers on social media? What if my peers think I’m a joke?

As professionals in an industry very much rooted in exploitative capitalism, white supremacy, & colonialism, we as realtors can and should use our voices and privilege to support a more inclusive and equitable future. If a potential client doesn’t want to work with me because I’m vocal about those things- well, that’s okay. I’m not for everyone (and, they’re probably not for me).

Interested in talking more? I’d love to connect with other folks who are working towards positive change in our community. Reach out!

 

 

Exploring Multnomah Village

Posted on by Living Room Realty

Exploring Multnomah Village: A Culinary Journey through Portland’s Charming Neighborhood
When it comes to Portland, Oregon, neighborhoods known for their unique charm, Multnomah
Village stands out as a gem. Nestled in the southwest part of the city, Multnomah Village offers
a delightful blend of small-town atmosphere and urban conveniences. One of its standout
features is the vibrant restaurant scene, making it a haven for foodies and a testament to the
neighborhood’s remarkable walkability.

**Multnomah Village: A Snapshot**

Multnomah Village, often referred to simply as “the Village,” is a tight-knit community known for
its tree-lined streets, independently owned shops, and a warm, welcoming vibe. But it’s the
dining options and walkability that truly make this neighborhood shine.

**A Food Lover’s Paradise**

Multnomah Village boasts a diverse array of restaurants and eateries that cater to a wide range
of palates. Whether you’re in the mood for international cuisine, comfort food, or farm-to-table
fare, there’s something to satisfy every craving.

1. The Ship Tavern: Start your culinary journey with a visit to The Ship Tavern, a beloved local
pub that exudes old-school charm. Their classic pub menu includes everything from hearty
burgers to delicious fish and chips, all best enjoyed with a local craft beer.

2. Thai Bloom: For those seeking a taste of Thailand, Thai Bloom offers a menu bursting with
authentic flavors and fresh ingredients. Their curries, stir-fries, and signature cocktails are not to
be missed.

3. Otto & Anita’s European Restaurant: Transport yourself to Europe with a visit to Otto &
Anita’s, where you can savor delectable German and Austrian dishes. From schnitzels to
strudels, it’s a culinary journey across the continent.

4. Nectar Coffee House: Start your day at Nectar Coffee House, where you can enjoy a
delicious cup of coffee and freshly baked pastries. It’s the perfect spot to meet friends or get
some work done.

5. The Renata: For a fine dining experience, The Renata offers an upscale Italian menu
featuring handmade pasta, wood-fired pizzas, and an extensive wine list. The elegant ambiance
makes it a great choice for special occasions.

**Exploring on Foot**
One of the most enchanting aspects of Multnomah Village is its walkability. The neighborhood’s
layout is designed to encourage strolling, and you’ll find charming boutiques, art galleries, and parks along the way. After a satisfying meal, take a leisurely walk through the Village and explore its hidden treasures.

Gabriel Park, adjacent to the neighborhood, offers a beautiful natural escape with walking trails,
a playground, and open spaces for picnics. It’s an excellent spot for a post-meal walk or some
outdoor relaxation.

The sense of community in Multnomah Village is palpable as you encounter friendly faces and
engage in casual conversations with neighbors and business owners. It’s a place where people
know each other’s names, making every visit feel like a warm welcome.

In conclusion, Multnomah Village in Portland, Oregon, is a neighborhood that combines the best
of both worlds: a lively culinary scene and a walkable community. Whether you’re a local
resident or a visitor, exploring this charming area will leave you with a taste of its unique
character and a strong desire to return for more culinary adventures and leisurely strolls. So, put
on your walking shoes and get ready to savor the flavors of Multnomah Village.

#MultnomahVillage #Portlandneighborhoods #Realtor #PortlandRealEstate #PortlandOregon

Renovating toward your dream home

Posted on by Jessica LeDoux

Finding the perfect house is a dream and people need space to explore what this looks like for them. The reality is there is no perfect house, but gaining clarity about what you want by visualizing your ideal place is an essential part of the home buying process. I pride myself on helping clients create space for this inquiry because when we dream, we can act in service to our deepest values.

Prioritizing the features in a home that matter most and are unchangeable helps us create a roadmap to finding the right house within the budget, instead of chasing a unicorn. Plans and needs change and so can your house. When you select your home with your core needs in mind, there is a greater likelihood that your home can adapt alongside you.

I have inhabited many different eras of homes in my own house journey, which started in north Portland with a 1920s Piedmont bungalow. I was in my early 20s with my husband and a newborn. We spent 4 years on renovations and moved on right after they were complete. From there, we enjoyed the ease of new construction in Scappoose with our two kiddos until we returned to Portland to renovate a 1940s home. This time, we had more experience and renovated in an order that allowed us to enjoy the paradise we were creating in Roseway, but life changed and we picked up and moved to a quieter pace in the land of mid-century homes on large lots — Milwaukie. We knew this was the house we planned to stay in long term and we thought our years of renovating were over, so we bought a nicely remodeled 1960s ranch in the Oakridge Neighborhood. But renovation is in our blood; turning that off is very hard. When I tour homes, I instantly see the roadblocks and the possibilities and start looking at how to solve or improve them. 

We found the house knowing we would need to recreate the backyard oasis we had created in Roseway, but this desire blossomed into so much more. This project quickly became one we knew would be too large for my husband and I to take on ourselves. My husband Greg has remodeled every one of our projects – man, did he deserve a break – time, bandwidth, and willingness were depleted. This project was the first one that involved an addition to the house, so for the first time, we looked into hiring a designer and having the work professionally done. I learned so much along the way, adding one more layer of knowledge to help clients. The project kept growing, and we endured delays and surprises as you do in any project, but the stress was low because we trusted our contractor at the highest level and knew we were in great hands. This project was so different from past ones because we knew this was the home we planned to grow old in and pass on to the kids. Knowing this, I allowed myself to dream and made design choices with more self-expression than in past homes where we knew we would eventually move on. Searching for the right products and tweaking options to create the best space we felt was possible became an obsession. I reactivated a more creative side of myself lost through the years. This creative side I allowed myself to have, combined with my knowledge of homes and design, was a perfect recipe to create our dream space. 

Just Listed! Sunnyside Victorian

Posted on by Greg Washington

Delightful Victorian with hardwood floors and original molding. Features include three upstairs bedrooms, formal entry with open staircase, spacious kitchen, cozy living room with Waterford gas heating stove, dining room with breakfast bar. Picture window in main floor bonus room looks out onto the lush backyard and with mature landscaping, deck and studio. Full baths on main and upper floors. New carpet, high efficiency forced air gas furnace, new sewer and water lines. Full basement offers ample storage. Sunny south-facing front porch. Backyard habitat certified. Located in a walking and biking paradise with restaurants, coffee shops, grocery stores, parks, and more. Walk score of 91! Don’t miss out on this gem!

3215 SE Taylor St., Portland / 3 bedrooms, 2 bathrooms / 2,000 total sq. ft.

$674,500

House Hacking Success Story in North Portland

Posted on by Will Sing

I am thrilled to share a success story. It’s the story of Amanda and Shiv, a determined couple who embarked on a house hacking journey with dreams and a clear vision in their minds. Let’s dive into their journey!

The Dream: House Hacking in North Portland

Amanda and Shiv had been on the lookout for a golden house hacking opportunity for over a year. For those new to the term, house hacking involves buying a multi-unit property, living in one unit, and renting out the others to offset your mortgage. It was a dream they nurtured, and I had the privilege to guide them in this journey, equipped with my custom deal calculator to run the numbers meticulously.

The Find: A Duplex with Potential

Our persistent search led us to a promising duplex in North Portland. A place that whispered potential and promised a positive cash flow in just the second year! Yes, it required a bit of a nudge to enhance the rents, but nothing too daunting.

The Victory: Winning Against the Odds

In the competitive Portland market, we found ourselves up against another eager offer. But Amanda and Shiv had a winning spirit, and guess what? We won, securing a place that was more than a house; it was a canvas of opportunities.

The Inspection Period: A Time of Diligence

Entering the inspection period, we rolled up our sleeves, ready to delve deep into every nook and cranny. We scrutinized the property’s financials, keeping an eagle eye on the major issues. Our diligence paid off, securing a substantial $7,500 towards a new roof and a comforting home warranty to boot.

The Closing: A Happy Beginning

As we neared the closing, the joy was palpable. Not only did we secure the home, but we also managed to get a generous $9k in closing costs. Amanda and Shiv were all set to move into their new abode, ready to infuse it with their personal touch, one improvement at a time.

Conclusion

Today, Amanda and Shiv are happily settled in their unit, gradually transforming their space while enjoying the benefits of house hacking. Their story is a testimony to what determination, the right guidance, and a bit of house hacking savvy can achieve. Here is what they had to say:

Will was super helpful throughout the entire home buying process. He has a lot of knowledge about different types of housing options and knows the Portland area really well. He wants his clients to feel good about their purchase and we definitely do.

Inspired by Amanda and Shiv’s story and keen to start your own house hacking journey in Portland? Reach out to me at 📞 503-303-0822 or 📧 hello@agentlivinginpdx.com and let’s turn your home buying dream into reality!

Just Listed: Elegant Craftsman in Colonial Heights

Posted on by Living Room Realty
JUST LISTED
2731 SE Harrison Portland, OR 97214
Offered at $995,000
_________________________________________________________________________________________________
Drop-dead gorgeous 4-level American Foursquare Craftsman home on idyllic corner of Colonial Heights. A lovely and inviting wrap-around front porch and glass door greets each guest. Once inside, an abundance of natural light brings warmth to the elegant main floor living and dining spaces. Vintage elements, such as pocket doors, leaded glass windows and an open stairwell blend seamlessly with the new hardwood floors and restored central mantle.  The gourmet kitchen by Neil Kelly has great flow and features a cook’s island, designer hood, and high-end appliances. The 4th floor, remodeled by Hammer and Hand, has a walk-in closet and views. Brand new roof and sewer line, zoned heat and A/C and added insulation make this home a smart choice. Rare find for star-gazers with an Astro-Shack out back, a must-see. Location simply can’t be beat!  In the heart of Colonial Heights, this home is situated ideally in-between Hawthorne and Division along a tree-lined bike boulevard, a short distance to Ladd’s Addition, Sewallcrest Park, shopping, dining, in a quiet yet lively pedestrian and bike friendly area.

Restored Mantle , New Hardwoods, Tons of Natural Light

Original features such as leaded glass windows, pocket doors, open stairwell

Gourmet cook’s kitchen by Neil Kelly with high-end appliances

Primary Suite on 4th floor by Hammer and Hand with ensuite bath and walk-in closet

Primary Bath with Large Walk-in Shower

Wrap-around Porch Overlooks Lush Landscaped Yard

Beautiful patio, garden beds, garden shed, established landscaping, and fountain

Side-by-side off-street parking

Astro-Shack designed for star-gazing, roof opens with a pulley system!

Ideally located in the heart of Colonial Heights, a pedestrian and bike friendly area

4 bed + office | 3.5 bath | 3,148 sq. ft.
MLS#23491418 Taxes: $9,339.60 | Year Built: 1906 | Lot Size: 0.12 acres

 

NEW PRICE – St John’s Cutie w/ Large Lot and Additional Living Quarters

Posted on by Lily Ray Wyss

COUNTRY VIBES IN THE CITY  $565,000

10540 N Midway Ave, Portland, OR 97203

You’re St Johns homestead dreams have arrived! Custom finishes throughout makes this home anything but basic. Enjoy your morning coffee off either of the cozy balconies or walk down to your garden oasis. Separate downstairs living area provides the perfect opportunity for extended family/friend visits.  

Offered at $565,000

4 bed | 2 bath | 2288 sq. ft.
MLS# 23027270 | Taxes: $5,282.00  Lot Size: .19 Acre

View Listing Details HERE

Want a private tour? Reach out through the contact info below.

What Makes the St. Johns Neighborhood Special -Part 2- Coffee Shops

Posted on by Living Room Realty

Coffee shops are community!

Every time I head to a new city or even just a new part of town, I make finding a great coffee shop the first order of business because there’s no better starting point for understanding the local community, no matter where you are. When you visit the St. Johns neighborhood, you’ll notice life moves a tad bid slower and that’s a good thing. The coffee shops are alive and bustling with folks working, unwinding, socializing and connecting.

And with the University of Portland just down the street, you’ll find University students regularly taking advantage of these great study spots.

Coffee shops are special because they reflect the atmosphere of the neighborhood and St. Johns is fortunate to have many unique and vibrant coffee shops which makes choosing just one very hard! A good problem to have :)!

Here are a few of my favorites:

Great North Coffee

This café feels like the heart of St. Johns. A popular meet-up spot as well as a great place to work or unwind with a snack. They roast great coffee and have other nice choices like kombucha and teas. The room has high ceilings and plenty of seating which gives it such a lovely and classic café feel. Locally famous for their next-level breakfast sandwich made with chimichurri or romanesco, and can be made vegan. Delicious and addictive! Also, you’ll find the classic pastries, cookies and bagels you expect from a great café. Don’t miss the local art on the walls!

 

Two Stroke Coffee Co.

Two Strokes Coffee is a moto-inspired coffee shop on the main drag of St. Johns, conveniently located next to a cool motorcycle & scooter shop called Sabatino Moto. This is a really fun cafe to visit and a great place to hang out. They serve wonderful coffee, pastries and have great baristas. There are a few motorcycles in the café and some stylish merchandise as well.

 

Sparrow Bakery

Sparrow Bakery is well known for incredible baked goods. They have 2 locations (the other is in Bend Oregon) and do wholesale baking for many other cafés. We are so lucky to have them in St. Johns! Sparrow makes great coffee and fabulous baked goods- I feel like it is a full-time job trying not to eat their pastries every day :). They are perfection! Plus there’s a large food menu making it a great spot for breakfast or lunch.

 

Cathedral Coffee

This one isn’t technically in St. Johns but I just had to add it! It’s officially in the Cathedral Park neighborhood (hence the name), but it’s verrry close to downtown St. Johns. Cathedral Coffee is an eclectic cafe that is always busy but never feels crowded. A beautiful large space with big windows, natural light, tall wood bookshelves & large tables. They roast their own coffee and bake their own sweets & savories, which are fabulous!

I highly recommend the foldovers they make with veggies and cheese (some have meat). They are fantastic and always fresh! And the cinnamon rolls are incredible. Many wonderful baked goods to choose from.

They also have plenty of great outdoor seating!

 

 

What about St. Johns Real Estate?

One more note regarding this current real estate market. St. Johns has seen a steady increase in property values and demand over the past few years with the average home price this August landing at $470,000 (source RMLS). To put that in perspective, the average home price for all of Portland Metro was much higher by the end of this August at $608,300 (source RMLS). 

If you’re considering the St. Johns neighborhood, I’m here to guide you.

I know the ins and outs of this neighborhood having lived here for more than 11 years. And, if you’re interested in other neighborhoods, that works too! I help people buy and sell homes all over Portland. I am known for my knowledge of the market and my ability to educate and listen carefully. You will benefit from my coaching heart and guidance that reduces stress and creates positive outcomes. I want to see you happy and satisfied with your real estate journey.

Read my reviews and bio for a good sense of what to expect from me.

I look forward to helping to make your home purchase pleasant, painless and hopefully even a little fun!

Before you go, here’s a fun fact: Did you know that St. Johns was once its own independent city before it was annexed into the city of Portland? In 1915, St. Johns voted to become part of the city, primarily to access the city’s services and infrastructure. The annexation was officially completed in 1915, and since then, St. Johns has been a neighborhood within the larger city of Portland.

House Hacking in Portland: How Jason Found His Perfect Investment Home

Posted on by Will Sing

Let me share with you a heartwarming story from my recent adventure as a buyer agent, helping out my client, Jason, in the vibrant and competitive Portland real estate market.

The Quest for the Perfect Investment Property

Jason had a clear vision: find an investment property under $400k where he could not only live but also house hack. Now, you might be wondering, what is house hacking? It’s a savvy strategy where you live in one of the multiple units of your property and rent out the others, effectively reducing or even eliminating your housing costs. In Jason’s case, we were finding a single-family home for him to rent out multiple rooms.

In the bustling Portland market, finding a home in this price range meant facing stiff competition. But Jason had a secret weapon – his background in construction. He was ready and willing to roll up his sleeves and turn a fixer-upper into a dream home.

The Hunt and the Happy Find in North Portland

Our journey took us all around Portland, putting in several offers, and keeping our spirits high. Jason’s patience and determination paid off when we found “the one” in North Portland. Despite competing against four other offers, we came out on top, a testament to Jason’s vision and our strategic approach.

Navigating the Transaction with Expertise

Entering the transaction phase, we discovered a few hiccups — issues with the home that needed addressing. But guess what? They were manageable, and we tackled them head-on. From getting the seller to decommission an oil tank found during inspections to negotiating a sweet deal where the seller covered a whopping 11k in closing costs, plus adding a home warranty for that extra peace of mind.

A Happy Ending and a New Beginning

Fast forward to a month later, and we were at the closing table, all smiles and ready for Jason to start his new chapter. Now, with keys in hand, he’s busy adding not one but potentially two additional bedrooms, a move that could skyrocket the home’s value by over $50k.

Here is what Jason had to say about the Experience:

Will went above and beyond to help me find the right home for my budget. The home search, buying, and closing process was executed perfectly. I am confident that Will’s personality, local knowledge, and understanding of the client’s needs would be a perfect fit for anyone looking to purchase property. He went above and beyond gathering repair quotes from multiple contractors, negotiating closing credit, and handling the coordination between my lender, escrow, and my self. I will defiantly be reaching out to Will in the future for my next property purchase.

Ready to take the next step in your home-buying journey?

Feel free to reach out to me for personalized guidance and expertise. Whether you have questions or are ready to find your dream home in Portland, I am here to assist you every step of the way.

📞 Call Now – 503-303-0822

📧 Email Me – hello@agentlivinginpdx.com

Navigating the Portland Real Estate Market: September 2023 Update

Posted on by Will Sing

Hello, fellow Portlandians and prospective home buyers and sellers! It’s Will here, bringing you the latest scoop on the Portland real estate market as we step into September 2023. Buckle up as we dive deep into the current trends, predictions, and some golden advice for both buyers and sellers in the vibrant Portland market. Don’t forget to hit that like and subscribe button for more real estate insights!

Current Market Dynamics

First things first, let’s talk numbers. The interest rates have been hovering around the mid to low-sevens, and while core inflation has ticked down slightly, the overall inflation has seen an uptick. The median sales price has decreased by about 2.7% compared to last year, and we are witnessing a competitive market in the $300,000 to $700,000 price range.

Predicting the Market’s Path

As we venture further into 2023, there are a few scenarios we might see unfolding in the Portland market:

  1. Interest Rates Decreasing: This would be a boon for buyers, potentially bringing about 5 million new buyers nationally. However, it could spur a demand-supply imbalance, pushing the prices up.
  2. Steady Interest Rates: If the rates remain unchanged, we might be looking at a stable market for the next 12 to 18 months, albeit with a persistent demand in the affordable first-time homebuyer range. This is the most likely scenario of the three.
  3. Interest Rates Increasing: Not the best news for buyers as affordability would take a hit. Sellers might have to get creative with offers to attract buyers. We may also see a slight decrease in pricing but not 20-30% drops.

Golden Advice for Buyers

If you are a first-time homebuyer eyeing properties in the $300,000 to $600,000 range, brace yourself for some competition. But hey, don’t lose heart; you might just snag some cool concessions from the sellers, including a 2-1 rate buy down or additional closing costs assistance.

Seller’s Corner

Sellers, it’s time to put on your aggressive hats when it comes to pricing. With fewer buyers in the market, you might want to keep a close eye on comparable listings to price your property competitively. And if you are selling a condo, patience is key as the days on the market have increased.

Let’s Connect

Got questions or need personalized advice? Feel free to reach out; I am here to guide you in your real estate journey in Portland. And before you go, do hit that like and subscribe button to stay updated with the latest in the Portland real estate world.

Just Sold near Peninsula Park! Yay for my first-time home buyers!

Posted on by Living Room Realty

Congratulations to my clients!

As you may already know, my business is referral based and I love meeting new people. So you can imagine how happy I was when a past client recommended Jane and their partner to me. It was such a joy getting to know them on their house hunt!

Here’s a little rundown of how it went.

We started with a buyer consultation and spent an hour going over the process in general. That’s the best way to get started, going over the current market and setting expectations for everyone. That’s when I ask the most questions about what my clients are looking for and we set the pace for the house hunt.

 

We saw multiple houses every week in various neighborhoods for many weeks until we narrowed it down and found the area that felt like home. The house they chose checked a lot of boxes, it was the perfect size in a great location and it had more than one bathroom plus a garage (bonus!). We saw the house 3 times just to be sure and then successfully got the offer accepted! They did a great job of getting financially ready, approved by a reputable lender, and had all their ducks in a row in that arena. (That truly is the first step!)

 

As we went through the inspection contingency period, I really liked that Jane and her partner asked a lot of questions along the way. One thing that people don’t always lean into when buying a house is making time to dive into research and ask all of the questions, even the dumb ones (and there are no dumb ones). Carving out time for this is so helpful because it’s the meat and potatoes of the whole deal. I’m here to advise and guide you along, but there is a lot to digest and having the time for those conversations and follow-up questions will always feel good.

Here is a general overview of the inspection contingency period. I will advise you while you look over the permit history, have the sewer scoped, the home tested for radon, the property searched for underground storage tanks, plus have a whole property general inspection as well. And that’s not always all, there are more investigations sometimes. It’s a lot and it’s awesome! Because after all of that, clients have a much better understanding of the home with all of its pros and cons.

 

So in this case, some things did come up in the investigations and we negotiated a credit and a price reduction. A couple of weeks later we had fun at the signing and a few days later we wrapped it all in a bow and I gave them keys.

 

Please reach out if you’re interested in talking about buying or selling a home. I’m always here for a check-in about the current market, lender recommendations or anything I can do to help advocate for your homeownership.

 

 

Cleansing the Energy in a New Home

Posted on by Lydia Hallay

When moving into a new home, it’s important to not only focus on the physical aspects of your space, but also the energy within it. Cleansing the energy in your new home can help you create a positive atmosphere and intention for your new life there.

Setting Positive Intentions

Before you begin any cleansing rituals, it’s important to set positive intentions for your new space. Whether saying a meditation or creating a vision board- focus on what you want to bring into your space. Focus on what matters to you (love, happiness, success, etc.) to create a positive energy flow in your new home.

Smoke Cleansing

Smoke cleansing (burning herbs or incense) has been used for centuries by various cultures to clear spaces. In fact- incense burners dating back 4,500 years ago have been found in Egypt.  There’s lots to love about burning herbs such as rosemary, lavender, or palo santo- and allowing the smoke to fill your space. It smells nice- and as the smoke rises, it’s said to clear negative energy and replace it with positive energy. To try it in your home, simply light the herb bundle and walk around your space, allowing the smoke to reach every corner and room. Ahhhhhhhhhh.

A note on sage, which is often referenced in smoke clearing practices. Wild sage (also known as white sage) suffers from severe over-harvesting. If you plan to use this fragrant plant in your intention-setting, I recommend growing it yourself (it’s easy to do!). Or, ask a friend to snip from their plant!

Salt Cleansing

Salt has been used for centuries as a natural purifier and cleanser. Wanna try it? Just sprinkle salt around the perimeter of your space or in the corners of each room. As you distribute the salt, visualize it absorbing any negative energy and replacing it with positive energy. After a few hours, you can sweep up the salt and discard it.

Crystals

If you’re looking for an extra boost in cleansing the energy of your new home, consider crystals! Some popular options include clear quartz, amethyst, and black tourmaline. You can place them in different areas of your home or carry them with you throughout the cleansing process to amplify the positive energy flow.

When DIY methods aren’t enough…

Feeling overwhelmed by the task of cleansing the energy in your new home? Consider enlisting the help of a professional! Portland is rich with energy practitioners who can help you create a positive and harmonious space. They’ll offer guidance on how to arrange your furniture, what colors to use, and which objects to incorporate into your space to promote positive energy flow.

Do it your way!

If you’re not comfortable with smoke or salt cleansing, there are other methods you can use to cleanse the energy in your new home. Playing calming music, burning candles, or diffusing essential oils can also help create a positive atmosphere. Experiment with different methods and find what works best for you and your new space.

Remember: trust your instincts and do what feels good to you. If something doesn’t feel right, don’t be afraid to rearrange or remove it! Your home should be a sanctuary that supports your well-being and happiness.

Two of my favorite Portland shops for space-clearing supplies are Roots & Crowns and Seagrape Apothecary.

Keep the good vibes going

It’s important to continue to maintain a positive energy flow by regularly decluttering, opening windows to let fresh air in, and incorporating plants and natural elements into your space. By doing so, you’ll be able to create a peaceful and uplifting environment that supports your well-being and happiness.

However you decide to do it, creating a positive atmosphere in your new home is an ongoing process and there’s no right or wrong way to do it. Trust your instincts, experiment with different methods, and enjoy the process of creating a space that supports your well-being and happiness.

Look Into Your Future

Not a homeowner yet? All of these intention-setting rituals are also useful in manifesting a home of your own! Light some lavender, put on some tunes, and create a wishlist of what kind of space you envision for your future self. Is it a home with big windows and lots of natural light for all of your plant friends? A big yard with space for a veggie or flower garden? If you can dream it, you can do it!

Are you interested in learning more about the home buying process? Ready to look into your future? Work with a realtor who takes time to understand your goals and will help you chart a path towards making them real. Whether you’re thinking of making a purchase soon- or months/years from now… I’m here to help!

REAL ESTATE NEWS: ADU ADVENTURES!

Posted on by Aryne + Dulcinea

ADU ADVENTURES

This is your weekly ADU info guide.

 

GARAGE CONVERSIONS TO ADUs

Have a detached garage and want to convert it into a living or guest space? There are many questions to answer before you proceed, but you may have the makings for a second living space on your property.
Come see our NEW LISTING for a great example!

Want to know more? CONTACT US  today – we are your ADU experts!

Continue reading “REAL ESTATE NEWS: ADU ADVENTURES!”

Summertime, is the time,…. to prep your house for market.

Posted on by Veronica Powell
For most of us Summer is just getting started.  BUT if you’re planning to sell your home this Fall, now is the time to prepare!
     1) Start purging, tidying & packing (This always takes longer than you think it will. Start this asap!).
     2) Work on/schedule any needed repairs or maintenance.
     3) Talk with an Agent about your goals and timeline.
     4) If you’re planning to make another purchase, talk with a Lender (Your Agent will likely have some good referrals for you!)
     5) Discuss strategies with your Agent regarding how to make your home compelling to Buyers (Fall is a short selling season so proper positioning is key to success).
Prepping your home for market can feel like a daunting task. Your Agent can help you prioritize tasks to stay on schedule and focus your efforts on the projects with the biggest impact and return on investment.
My team of professionals can help you  get your home to where it needs to be to attract Buyers. Give me a call for a complimentary consult to get you stated and on the path to “SOLD!”
Veronica Powell
503.936.3475
Veronica@LivingRoomRE.com

PORTLAND LIFE: FARMERS MARKETS

Posted on by Aryne + Dulcinea

PORTLAND FARMERS MARKETS

Portland teems with farmer’s markets! Surrounded by amazing farm country, the Willamette Valley and beyond grows beautiful food, and just as great as beautiful food is supporting the dedicated folks who tend and grow food. Shopping at farmer’s markets, signing up for CSAs, and supporting local coops are great ways to support local farmers. And summertime is the best time to start shopping!
Here are a few of our favorite farmer’s markets:
PSU farmer’s market
King Farmer’s Market
Kenton Farmer’s Market
SEE ALL FARMER’S MARKETS HERE

 

Continue reading “PORTLAND LIFE: FARMERS MARKETS”

New in Oregon City!

Posted on by Shannon Ilas

13896 Conway Dr

Oregon City, Oregon, 97045

OFFERED AT $800,000

5 BEDROOMS | 3.5 BATHROOMS | 3624 SQ. FT. 

MLS#  23503082

Click for Video

JUST LISTED–CUTIE IN CANBY!

Posted on by Shannon Ilas

925 S Elm Ct

Canby, Oregon, 97013

OFFERED AT $525,000

4 BEDROOMS | 2 BATHROOMS | 1716 SQ. FT. 

MLS# 23333665 

 

 

Click Here For More Details

Just Listed: Top-Floor Condo on South Park Blocks

Posted on by Living Room Realty
JUST LISTED
1500 SW Park #525
Offered at $360,000
_________________________________________________________________________________________________
Excellent top-floor condo on the south park blocks! With vaulted ceilings, zero upstairs neighbors, direct access to a community sun deck, the upper floor of this well-managed building offers safe and quiet spaces. Newly upgraded unit has brand-new flooring throughout, new quartz counters and fresh paint. With generous bedrooms, laundry in unit, a sun-drenched balcony, fireplace, central AC, newer Bosch dishwasher, it’s ready to move right in. Deeded parking in secure garage, bike storage, fitness room and large community patio behind a security gate. Steps to PSU, farmers’ market every Saturday, street car & bus access, fine dining and cultural amenities like the art museum and several concert venues within blocks. Rent cap not met!

2 bed | 1 bath | 827 sq. ft.
MLS#23462394 Taxes: $6,021.61 | Year Built: 1988 | HOA Dues: $544/month

 

PORTLAND LIFE: KICKING OFF PRIDE!

Posted on by Aryne + Dulcinea

 

KICKING OFF PRIDE!

Pride celebrations are kicking off all over the country. At Living Room, we kicked off Pride with a celebration including rainbow-inspired, plant-based food, a jazz trio, and lots of merriment! And this was all before 9:30 in the morning! We also had an impactful presentation from local lender, Percy Wise about the experiences of LGBTQIA+ buyers, sellers, and homeowners.

PORTLAND PRIDE2023 UPDATE

In case you are wondering when Portland’s big PRIDE festival takes place this year, it’s in JULY! July 15-16 to be exact. Read more about events HERE.

Continue reading “PORTLAND LIFE: KICKING OFF PRIDE!”

PORTLAND LIFE: GARDEN BEDS + BOXES WE LOVE

Posted on by Aryne + Dulcinea

 

GARDEN BEDS + BOXES WE LOVE

We could not be more excited to get back outside in our yards and gardens and plant, dig, beautify and breathe it all in. If you are interested in installing some new beds, but don’t want them to be ground level or just want to design spaces with garden boxes, CLICK THROUGH the images to see some of our favorite beds + boxes for your new project!

                 

Continue reading “PORTLAND LIFE: GARDEN BEDS + BOXES WE LOVE”

Mid-Century Modern Time Capsule

Posted on by Living Room Realty

Have you ever wondered, what is the history of this house? Who designed it, why were some choices made, or who once lived here? I discovered just that with this mid-century modern time capsule in St. Johns, Oregon.

I LOVE history and especially love the hunt for house history. When searching for homes with my clients, I do my research to see what fun tib-bits I can find on the ones they love. While lounging on the couch, I’m a house sleuth online discovering what I can about the history of some of Portland’s finest houses. Sometimes there are some nuggets to be found, but most often a history can be lost if the records we’re not kept by previous owners, or the story of the house wasn’t passed down owner to owner.

I had the incredible opportunity to discover details about this mid-century modern time capsule in North Portland recently, as it was once upon a time in my family. Seeing pictures online from a friend in the industry that went to the estate sale recently, I knew I recognized that carpeted firepit. I sent the picture to my cousin to confirm and yes, this was the house! Putting an alert on the address, I knew it would most likely pop onto the market soon, and once it did, in the door we went.  Turns out, my cousins Grandma Bunnie helped design this beauty back in 1956. There isn’t another like it out there. Over the weekend, we met at the house to explore, reminisce, and tell stories. As houses have so many of them.

This Mid-Century Modern home saw a family grow through almost four generations. Bunnie designed this to fit all of the needs of a large 1950’s family. There are built-ins with drawers and cupboards in nearly every room and hallway, easier to keep the house clean and organized. A once covered outdoor patio was remodeled early on to become an indoor space with the fire pit still intact. Then they added the spiral staircase to get downstairs to the pool/bar room, three other bedrooms, and an incredibly large workshop. There are electrical plugs everywhere, even on the ceiling in some rooms. No need for extension cords! There are two wet bars, one upstairs, one down. With over 5,000 square feet, this two-level mid-century modern home has it all, and has hardly been changed since it was built. There is still the old shag carpet, wallpaper, all the knobs, (there were hundreds, and they’re all the same!). I learned why there are two separate mailboxes, due to Little Bit, the poodle, that would eat the mail if it came through the slot. Why there is a custom switch alarm to lock the house up from the primary bedroom. How the intercom throughout the house was used. So many memories and stories with this one. A true time capsule.

I have a few memories coming here as a young child, playing with my cousins running up and down the spiral staircase, even though we weren’t supposed to, to even finding a hidden box of 1950’s Playboys in the basement! This house had it all. And well, it still does.

Want to know the history of a house? I love being a house sleuth and discovering the why’s, who’s and all the in-between. Every house has a story to tell, and this mid-century modern home sure struck close to home.

 

To see more videos of this MCM and many others, go to @janelleisrealestate on Instagram or TikTok.

Janelle Freeman, Realtor (@janelleisrealestate) | Instagram

Over 5,000 square feet in here!

Once outdoor, now indoor firepit.

The secret alarm switches hidden in the Primary bedroom closet.

The lower level bar/pool room.

One of many build-ins.

All original fabulous pink bathroom.

The Spiral Staircase.

Real Estate Hack: Buying with Buds

Posted on by Lydia Hallay

Home ownership is often assumed to come with the trappings of “traditional” household formation (heterosexual coupledom, kids, and a white picket fence). The truth is, not all of us are building that kind of life. According to the Brookings Institute, “the so-called ‘nuclear’ family is no longer the dominant household structure.”

As household demographics continue to shift, so too can our ideas about how to achieve home ownership. If you’re just starting your real estate journey- the idea of coming up with a down payment, qualifying for a mortgage, and keeping cash on hand for repairs or renovations might feel like distant dream.

The good news is- you don’t have to go it alone! Buying with friends (or lovers, family members, co-investors, etc.) enables you to pool resources and gain a toehold in the real estate market – often sooner than you thought you could.

Here are some things to consider as you explore co-ownership:

  • Discuss your goals and financial situation with your potential co-buyers. Before committing to a shared investment, have a candid conversation about your long-term goals, financial stability, and expectations. This will help you determine if you’re on the same page and avoid conflicts down the road.
  • Consider your financing options. There are lots of ways to finance a joint purchase. Work with a lender who understands the financial nuances involved and respects alternative household configurations.
  • Create a legal agreement. While a chore wheel might work for ironing out the details of who’s on dish duty- you’ll want something more official for your co-purchase. Before buying with buds, it’s essential you have a legally binding agreement in place that outlines everyone’s responsibilities and rights. For example, how will the mortgage payments be split? Who will be responsible for repairs and maintenance? What happens if someone wants to sell their share of the property?
  • Work with a real estate agent who understands and is supportive of alternative household configurations. I support my clients in creating whatever kind of household works best for them.
  • Be flexible and patient. Co-buying a property can be a complicated process, and it may take longer than expected to find the right property and reach an agreement. Spend time spelling out the details and finding a property that meets everyones needs – it will be worth it!

Ultimately, good communication, compassion, and flexibility are the most critical factors in achieving a harmonious and successful co-purchase. With a like-minded realtor/lender team behind you- nothing can stop you!

Thinking of buying with friends, family members, or members of your polycule? Need help connecting to friendly lenders? Give me a holler!

Top (not so) Secret Tool of Portland Real Estate

Posted on by Patricia LoCascio

Whether buying a house or just doing property research, we all have practical questions around real estate, neighborhoods, and our city and we are sure the answers are out there.  But often times, we’ve got no idea where to look!

As a licensed agent in this beautiful city, I hear a lot of questions on repeat.  To list some of the most frequent:

Did they pull a permit?
How is this property zoned? And what does R5 mean anyway?
What is crime *really* like around here?
Where’s the closest dog park?
What are the schools like?
The list goes on!

For buyers and sellers, Portland Maps can answer all of these questions and *more*.  To begin with, there are also maps of noise complaints, cannabis applications, short-term rental registry, and residential construction permits.

Portland Maps is also one of the greatest resources out there for Portland residents and homeowners.  With an incredible virtual tour of the Crystal Springs running from Johnson Creek Park to Reeds College and a map of Portland Hydro-parks, you might be surprised at what you’ll find.

Want to apply as a Green Street Steward (or find out what that even is)?  Want to browse a Portland tree inventory?  Pop your own address in.  See what you can learn about your biggest and best investment and this city we all call home!

–Patricia LoCascio

Creston Turnkey

Posted on by Living Room Realty

 

What a ride this was!  This past January I was referred to Maddie and Derreck by a friend that had just left Portland for the Midwest.  At this time interest rates were climbing and my business had changed dramatically.  The buyers pool dried up and my soon to be sellers were non-existent as they were looking for homes and all of a sudden they were priced out and would have nowhere to move to if they sold.  I then thought “this is what is supposed to happen”.  The market needs to slow down and all of my thoughts of “this can’t go on forever” ruminations  were coming to fruition.

We started talking in January and when it came to marketing dates we had to be fluid due to the difficulty of them buying a home to move to.  After being under contract twice they finally gave me the go ahead to list but with a few major caveats.  One was that Derreck works from home during the day and Maddie works from home in the evening.  Two was that they have a toddler at home that has nap times and meals and activities.  Imagine trying to do showings during the day!

The main feedback I received was that this home was “turnkey” which means you should only have to open the door and move in.  There should be no repairs, updates, or major issues to address. [I always recommend an inspection to my clients].

Well we did it!  We listed on a Wednesday evening, they left town on a Friday, and we had several showings Thursday and Friday with 3 super strong, well above asking price, offers for them to choose.  By the time they returned home on Monday we were under contract with two cancelled open houses and no future showings to plan for.

They’re happy, I’m happy, our mutual friend is happy, and it’s on to enjoying this sunny Portland day!

If you’d like to enjoy the upcoming sunny days here in Portland and are thinking of selling go ahead and reach out to me.

Benedict Samson | Living Room Realty | licensed in Oregon

503-217-4449 call or text

Ben@LivingRoomRE.com

 

 

How the owner of Living Room Realty created a culture of giving

Posted on by Living Room Realty

Living Room Realty exemplifies how a business can be a force for good by giving back. As the founder and owner of Living Room Realty, Jenelle Etzel fosters a culture of giving among agents and staff. In fact, she built her business around it.

When she founded Living Room Realty in 2009 during the recession following the financial crisis, Etzel looked beyond candidates’ sales numbers when building her team, seeking shared values and selecting individuals driven by a sense of purpose.

“I made a big bet that people that have been involved in volunteering and giving back, when we came out of the recession, that they were going to be really successful,” Etzel said. “That bet paid off.”

That long-term view paid dividends. Living Room Realty is now one of the largest real estate companies in Oregon and is recognized for its charitable giving. The firm received a Corporate Philanthropy Award from Portland Business Journal in 2022.

Living Room’s certified B Corp status – and public pledge to donate 5% of profits to charity – demonstrates a commitment to high standards of social and environmental responsibility and transparency.

“When we succeed, that means that we can create even more opportunity to be generous with our community,” Etzel says.

Each fall the company rallies agents, staff and community to collect coat donations to support local charity Impact Northwest. They’ve donated more than 800 coats since this program began.

And the company’s commitment to intentional giving is reflected in the company’s two charitable funds.

The Loving Room Fund receives a percentage of agents’ commissions, and agents collectively decide which nonprofits to fund. Through the fund, agents have donated thousands of dollars to charity.

To establish a separate charitable fund to receive a percentage of Living Room Realty annual profits, Etzel worked with Oregon Community Foundation to create a corporate donor advised fund. Etzel empowers employees to support nonprofits and causes with grants from the fund.

“I have my own things that are near and dear to my heart, but I’m one of 25 people on staff here. I have to step aside and really listen to what’s important to my staff. I have, in effect, turned it over to them,” Etzel said.

“The staff has shown me that they deeply care about the people who live here. They’ve focused on organizations that create more opportunities for children and marginalized communities. They want everybody in our community to feel the same abundance, hope and optimism that we do here.”

Etzel describes the partnership with Oregon Community Foundation as a way to make the company’s giving more effective.

“They have allowed us to give with more educated choices. Knowing the things we care about, they help guide us to make a bigger impact,” Etzel said. “I’ve learned a lot working with Oregon Community Foundation. One thing is how deep the need is here in Oregon, especially for children.”

Etzel said she has often been surprised by the research findings provided by Oregon Community Foundation, such as learning the detrimental effects of poor childhood dental health on academic achievement.

“I don’t feel like I’m guessing, or I’m coming in to feel good or be the hero,” she said. “I feel like I am wisely using my resources to have the greatest impact. Those resources have come from my agents and the community. Oregon Community Foundation makes me feel confident that I’m a good steward of those dollars.”

Through engaged agents and employees, charitable funds and a culture of giving, Living Room Realty shows that business can be a powerful tool for creating a better world. The company’s commitment is a reminder to us all that when we focus on making a difference, communities benefit.

Oregon Community Foundation (OCF) works with donors and volunteers to award grants and scholarships to every county in Oregon. With OCF, individuals, families, businesses and organizations create charitable funds that meet the needs of diverse communities statewide. Since its founding in 1973, OCF has distributed more than $2 billion toward advancing its mission to improve lives for all Oregonians. For more information, please visit oregoncf.org.

Read the full article by the Oregon Community Foundation in the Portland Business Journal.

REAL ESTATE NEWS: HOUSE BILL 3294

Posted on by Aryne + Dulcinea

REAL ESTATE NEWS: OREGON HOUSE BILL 3294

 

You may not know it, but as a homeowner in parts of this city, you may have racist language in your deed and title documents. House Bill 3294 moves to help homeowners remove this language and other restrictions from their titles entirely.

Read more here.

Continue reading “REAL ESTATE NEWS: HOUSE BILL 3294”

Q1 Real Estate Market Update: Multnomah County

Posted on by Living Room Realty

Portland Real Estate Listings and Sales Slump in the First Quarter of 2023

A population decline hasn’t produced a drop in home prices

Activity in the Portland real estate market slumped in the first quarter of 2023, with new listings, pending sales, and closed sales all falling compared with the year-ago period, according to the latest report from the Regional Multiple Listing Service, a firm that tracks sales in the Northwest.

RMLS doesn’t give reasons for market changes, providing just data, but higher interest rates have been weighing on the market for months, and they appeared to suppress activity again in the first quarter. New listings fell 25% to 6,389, pending sales dropped 30% to 5,358, and closed sales tumbled 34% to 4,340, RMLS said.

Prices, meantime, held firmer, with the median sale price falling just 2.8% to $514,900. Inventory in March 2023 rose just 0.9% from March 2022, RMLS said.

Aryne Blumklotz, a broker at Living Room Realty, says the market is in flux because the outlook for interest rates is so murky. Rates on 30-year fixed-rate mortgages have gyrated between 4.72% and 7.08% during the past 12 months, according to Freddie Mac. They stood at 6.28% on April 6.

“There is no rhyme or reason to this market,” Blumklotz says. “If interest rates would just hold, we could all get our heads around it. The changes make people anxious about buying and selling.”

Some houses are sitting on the market, Blumklotz says, while bidders fight over others. A property in a posh eastside neighborhood got four offers, all of them over $1 million, and all in cash, she says.

“We were as aggressive as we could be,” Blumklotz said of her bidder.

Buyers are still coming to Portland from out of state, Blumklotz says. She has represented several from California, one of whom closed this week and another coming later this month.

Those sales are good news for sellers amid the shrinking population in Multnomah County. The county’s population stood at 795,083 on July 1, 2022, down 1.3% from 805,593 a year earlier, the U.S. Census Bureau said on March 30. Multnomah’s population fell by about the same amount in 2021.

Read the full article by Anthony Effinger in the Willamette Week HERE.

Relocation Specialist!

Posted on by Jessica Ward

As an Oregon native I take the responsibility of being friendly, hospitable and well versed in all things Pacific Northwest very seriously. My mother being from the Midwest (Wisconsin to be exact) and my father being from Washington state (by way of Mississippi) I welcome transplants from everywhere with open arms. I have lived many lives in this place I call home and have a wide array of interest that intersects with a multitude of people, places and things.

So I’m sure you can imagine my delight when an out of state client contacts me about relocating to Oregon. Similar to the class president being tasked with showing the new kids around the school I relish in the opportunity.

My latest relocation was the BUSBY family (buyers) coming from Texas. Welcome to The Great NW!

Thank you for choosing me as your agent & enjoy your beautiful new home.

Portland, Oregon Housing Market Forecast with Jenelle

Posted on by Living Room Realty

Known for its great food and arts scene, Portland, Oregon, has become an increasingly popular place to call home for singles and families alike. As such, Jenelle Etzel, founder and CEO of Living Room Realty, isn’t surprised by the fact that demand for homes in Portland is still solid even with mortgage rates being as high as they are today.

But Portland’s housing market is a tricky one to navigate due to extremely low inventory, so if you’re looking to buy in the Portland-Vancouver-Hillsboro area, you’ll need to be prepared. Here’s what you need to know about the market today and looking ahead, based on information from the U.S. News Housing Market Index.

How the Portland Housing Market Changed in 2022

Single-family home construction slowed down in Portland in 2022 compared with 2021. Based on data from the U.S. Census Bureau, permit activity for single-family detached homes dropped from 536 in January 2022 to 375 in January 2023 – a 30% year-over-year decrease. Permit demand peaked in May 2022 at 651, but by the end of the year, it had plummeted to 335, a 48% drop.

A slowdown in single-family housing permits isn’t surprising to Etzel. “Portland has pretty tight urban growth boundaries, so it’s been hard to have new construction,” she explains. “But we need it to happen, and we’re starting to see some building happen.”

Construction for multifamily homes, however, increased in 2022. In January 2023, there were about 698 housing permits issued for buildings housing two or more units, compared to about 569 one year prior. That’s an increase of almost 23%. Permit issuances peaked in February 2022 at 575 units, after dropping since December 2021. Since then, permits were on a downward trend until starting to rise in June. They didn’t regain to the February level until September, but ended the year at 782, a 16% increase.

Portland Housing Supply and Demand

A slowdown in single-family home construction is the last thing the Portland market needed over the past year. That’s because, as Etzel explains, a lack of inventory has long been a problem in Portland.

“Portland supply is super low,” Etzel says. However, there’s a silver lining.

“The market was becoming impossible a year ago,” Etzel says. But “having interest rates rise and forcing some people to have to sit out the market has balanced out the market a little bit.”

As of January 2023, based on data from Redfin, inventory in Portland sat at a 2.6-month supply. That’s actually an increase of 1.73% compared to a year prior. But it can easily take a six-month supply of homes to balance the real estate market and allow for enough inventory to meet buyer demand.

For context, on a national scale, housing supply in January 2023 sat at a 3.2-month supply, representing a 1.71% year-over-year increase.

Meanwhile, the rental vacancy rate for Portland as of January 2023 was 4.8%, representing a decrease of 0.8% from one year prior, based on data from the U.S. Census Bureau. The U.S. rental vacancy rate for the fourth quarter of 2022 was 5.8%, putting Portland’s vacancy rate below the national average.

Because there’s so much demand for homes in Portland, Etzel says, “We are technically still in a seller’s market here. We still see multiple offers on great homes, and I don’t expect that to change.”

However, sellers are making more concessions. “Sellers know they have one or two backup offers, but they don’t have 30 people waiting in line,” Etzel explains.

It’s also worth noting that for the week ending March 17, 2023, mortgage applications increased 3% from one week earlier, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. On an unadjusted basis, the Market Composite Index, a measure of mortgage application volume, increased 3% compared with the previous week.

That same week, the average contract interest rate for a 30-year fixed, confirming mortgage decreased to 6.48% from 6.71% the previous week. But even with that decrease, borrowing has clearly gotten expensive.

Still, Etzel doesn’t think mortgage rates are impacting the Portland real estate market all that much.

“The interest rates are making way bigger news than they deserve,” she insists. And while Etzel does think mortgage rates will go down in time, she also thinks that “people are going to get comfortable again with the interest rates we’re seeing today.”

But while higher mortgage rates may not be affecting the Portland real estate market dramatically, it’s hard to overlook the fact that consumer sentiment is down. In January 2023, consumer sentiment sat at 64.9, according to the Survey of Consumers from the University of Michigan. A year prior, it sat at 67.2.

Portland Real Estate Market: Predictions

Etzel doesn’t expect the Portland housing market to change drastically over the next year. However, she thinks mortgage rates have the potential to drop, which could result in an uptick in buyer demand.

“I think the next 12 months are going to look similar to what we’ve been through,” she says. However, if rates drop, “In a market like we have where we don’t have the supply, I think it’s going to force a lot of folks back into a competitive environment.”

Meanwhile, Etzel says recession fears are not really a concern in the context of the Portland housing market. In Portland, wages have increased, she explains, and unemployment is still relatively low.

Because of this, “Owning a home looks like a good tactic to secure some financial stability,” says Etzel. “It doesn’t look like a very big risk.”

Looking to learn more? Reach out directly to get in touch with an expert agent today!

503-719-5588 | welcome@livingroomre.com

 

 

 

 

 

Read the full article from US News by Maurie Backman HERE

 

STYLE EDIT: INTERIOR DOORS WITH BOLD COLOR

Posted on by Aryne + Dulcinea

                                           

STYLE ALERT:

INTERIOR DOORS WITH BOLD COLOR

We’ve been adding color to our front doors, and painting accent walls in our home, but an interior accent door? We LOVE it! A great way to refresh a room, hallway, entryway, or foyer.

See more ideas here.

 

Continue reading “STYLE EDIT: INTERIOR DOORS WITH BOLD COLOR”

Hooray to these FIRST TIME HOMEBUYERS!

Posted on by Nicole Chavira

It has been a joy since our very first introduction that was thanks to a lovely past client 2 years ago. (Btw referrals are the biggest compliment and vital to my business so many thanks for all who recommend me🙏🏽) At the time, the housing market was a little coo-coo with those historic interest rates and an extremely competitive market. We got to know each other spending time seeing homes and then they decided to take a pause. A pause that turned out to be a blessing! As V excelled in her career with a promotion and a new little man was added to the mix, they reached back out and they were ready to make moves!

Literally and figuratively 😉

It was our first weekend checking out homes and they quickly found THE ONE! The right school district, space and location! It just felt right!

With 264 days on the market and 90k price reduction, over that span of time, we made an offer that was up against one other at the time. I was able to negotiate a 10k credit to my buyer’s towards their closing costs (this means less cash out of pocket at closing) a BRAND NEW ROOF and some other minor repairs!

When I say that I share the excitement of each and every one of my clients, I mean it! Their gratitude and trust in me as their Real Estate Professional created such a wonderful experience all around.

Thank you so very much for choosing me to go on this journey with you! Even on key day where the oldest boys ran from room to room seeing the home for the first time and leaping for joy, truly warmed my heart. Moments like those are exactly why I passionately advocate and love on my people.

Wishing you all the most beautiful of memories together as you make your new house a home!

You are an inspiration to so many other hard working individuals that the time to buy is when it’s right for YOU! Congratulations my friends 🥂🏡

How to Buy a Home in Portland, Oregon

Posted on by Bonnie Roseman

Empowerment in a Frenzied Market

If you find the current Portland real estate market overwhelming, you’re not alone. The good news is, new spring listings are popping up every day! Just not as many homes are available as there are buyers for them. Inventory is low and that creates a lot of organic competition, especially for the “best” properties. Homes that have been freshly remodeled, have a lot of style, and/or are in prime locations command attention, premium prices and aggressive terms. Many buyers feel priced-out after being out-bid in multiple-offer situations. Avoid Buyer’s Burn-out!

A Realtor from behind with grey curly hair which is standing on end in front of an orange background. Sweater has a "SOLD" sticker on it - implying how hair-raising the Portland market is.
It can be hair raising!

Fortunately, we’ve been at this a long time, and have assisted clients through every possible market on the spectrum.

 

Tips for nabbing your next home using creative shopping strategies:

  • I am not kidding about this- visit homes with ugly pictures! Beyond all the clutter and poor lighting you may find your treasure, hidden in plain sight and overlooked by most.
  • Consider properties that are showing a bit of wear and take on the project yourself to make it really shine. Sweat equity is real, but be honest with yourself. What resources will you have available to spruce up your new place. Is watching a how-to YouTube enough to help you handle the fixes, or will you need to hire experts? Skip wonky staircases, wacky floor plans and locations near freeways, bus stops, and busy streets. Buy smart!  
  • Look at homes priced well below your budget to give you room to fight and be the winning bidder!
  • Shop slightly above your current price range. Consider properties that have been on the market a while (translation: homes that are likely over-priced). 
  • Explore less expensive locations.
  • Re-evaluate your priorities and consider smaller homes and yards, homes without recent updates, etc.

 

How we can help!

Bonnie Roseman and Trish Sunderland, Realtors at Living Room Realty stand smiling in a staged dining/living room.
Bonnie Roseman and Trish Sunderland, Dynamic Real Estate Duo in Portland, OR

There are a few things we are doing behind the scenes for our buyer clients to help get them to the finish line. We scour Coming-Soon listings on the regular. We hustle to get our buyers into homes as soon as they hit the market. Pro tip: It’s not unheard of to persuade a seller to accept a compelling offer on day one on the market, thus avoiding a bidding war. We review old and expired listings and contact off-market homeowners who might consider selling. We leave no stone unturned to help you find your next home!

What can you do?

Get organized and prepare yourself. Consider your financing options and make a decision early in your journey. Where you will obtain your new mortgage? Your lender is your partner, just like your Realtor, in the homebuying process, so make sure you choose trusted advisors! Submit all of the needed documents and ask your lender to run your file through underwriting. Keep in touch with them and make sure you are crunching numbers using current interest rates and realistic estimates for property taxes and homeowner’s insurance. Don’t fall in love with a home only to discover the cash you need to close the deal, or to carry the monthly payments, are beyond your comfort level –OUCH!

If you have the good fortune to be paying with cash, make sure you have proof of funds at the ready!  

Financial readiness means your documentation is ready to go! 

  • If you are a cash buyer, or have a large down payment, have proof that the funds required for your purchase are in a checking or savings account in your own name. Believe it or not, mutual funds, ETFs, gifts and the like are NOT considered cash!
  • Engage a lender early, then obtain an up to date mortgage pre-approval letter that reflects the current interest rate and the property tax amount for each specific property you are considering. Your lender will also help you crunch the numbers so you know you are comfortable with the amount of cash you will need to close your purchase and cover the monthly carrying costs. If you love your lender- wonderful! If you don’t have one picked out yet, have no fear, we can connect you with a personal referral to a top notch local pro. 

 

On your mark

Drive, bike or walk by exciting new listings the first day on the market. Let your Realtor know right away when a place shows possibility and make yourself available ASAP to get inside. After all that hurrying, be prepared to wait patiently. Many of the most desirable properties will have due dates for offers a while out and you will need to bide your time. 

Understand pricing

Be prepared for newly-listed homes to sell for significantly more than the asking price, sometimes by a wide margin. If the listing has been on the market for 10-20 days it will probably go for right around asking price, and if it has been sitting for more than a month without a recent price reduction, a bigger discount may be in the cards. 

You can stay up-to-date with current market conditions with the weekly Portland report from Altos Research.

Average sales price in Portland, OR

 

Offer Terms- Price is not the only thing that matters to home sellers. Sometimes having the best terms can keep you in the running, or at least get you the opportunity to modify your offer without it being rejected out of hand, even if your offer isn’t the highest bid. Consider including terms that give the seller confidence in choosing you as their buyer.

When we work with our buyer clients, we discuss many creative ways to strengthen an offer. Two of the key items that can often make a difference are:  

  • Repairs

When it comes to repairs, sellers want to know that they will not be nickel-and-dimed during the inspection process. While most buyers are not in a position to make totally as-is offers, it IS possible to limit the risk to the seller without leaving yourself wide open. One strategy is to commit to accepting responsibility for needed repairs that fall below a certain threshold. This way the seller knows you will only attempt to negotiate if something big comes up. 

  • Appraisals

 As prices increase, it can become very challenging for appraisers to find past home sales (AKA “comps”)  that keep up with current values. This does not mean the value is not there, but rather that the data is not keeping up with rapid increases in market values. When a home appraises for less than the contract price, this is known as an “appraisal gap” because lenders base financing on the appraised value, not the purchase price.

Sellers want to know that you will close the transaction, even if there is an appraisal gap. You can solve this by adding cash to your down payment. Another approach is to keep your loan amount and down payment as planned, but preparing yourself for an adjustment in the Loan-to-Value ratio. This may have a small impact on your monthly payments in some cases. In others, it may have no impact on you at all! 

Here’s an example:

If you are paying $100,000 for a home, putting down $8,000 and borrowing $92,000 (92% Loan-to-Value), but your appraisal comes in at $95,000, you could still borrow $92,000 – it would just be underwritten at a higher Loan-to-Value because the LtV is based on the appraised value. 

100,000 sales price x 92% = $92,000 loan amount.

 

95,000 appraised value x 96.8% loan-to-value = $92,000 loan amount

The down payment is $8,000 either way!

 

 

 

Ready, Set, Go!

We pride ourselves on assisting clients to be selective in their home purchase decisions and writing offers with a high chance of acceptance in order to avoid a roller coaster ride. When you or your peeps are ready to buy – or even just thinking about buying in the future – it is always in your best interest to prepare ahead of time, with a solid team in place for when it’s time to make the leap. Drop us a line us at portland@realtor.com to get on our dance card!  Thank you for trusting us. Your new home awaits and we WILL get you to the finish line!

Bonnie Roseman and Trish Sunderland jumping energetically in a parking lot in front of a brightly painted striped brick wall.

First Time Homebuyers, from Handshakes to Hugs.

Posted on by Living Room Realty

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!

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.

STYLE EDIT: A Fresh Look at Velvet Armchairs

Posted on by Aryne + Dulcinea

A FRESH LOOK AT VELVET ARMCHAIRS

 

We’re loving these fresh styled – but oh so cozy velvet armchairs! They are everything from curling up with a book to a stylish cocktail party!

CLICK PHOTO TO SEE MORE.

Continue reading “STYLE EDIT: A Fresh Look at Velvet Armchairs”

PORTLAND LIFE: Hot Gingery Drinks to Sip While We Wait for Spring Weather

Posted on by Aryne + Dulcinea

HOT GINGERY DRINKS TO SIP WHILE WE WAIT FOR SPRING

HOT GINGER APPLE CIDER, HOT LEMON GINGER TODDY, AND GINGER-SPICE HOT COCOA are three amazing drinks to keep you warm while we wait for Spring. These healthy and simple drinks all start with ginger and water… see the directions below:

HOT LEMON-GINGER TODDY:
Slice up a hunk of ginger and cover and simmer in 2 cups water for 20 minutes, strain, add freshly squeezed lemon juice or lemon slices to taste, and add honey for a bit of sweetness – serves two.
GINGER-SPICE HOT COCOA:
Slice up a hunk of ginger and cover and simmer in 2 cups water for 20 minutes, strain, add one cup of plant-based milk, whisk in cocoa powder, and sweeten with maple syrup and cinnamon – serves two.
HOT GINGER-APPLE CIDER:
Slice up a hunk of ginger and cover and simmer in 1 cup of water for 20 minutes, add one or two cups of apple juice and a cinnamon stick to taste, and simmer for another 10 minutes – serves two.

Continue reading “PORTLAND LIFE: Hot Gingery Drinks to Sip While We Wait for Spring Weather”