Tag: Portland REALTOR®

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.

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.

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.

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. 

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.

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!

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!

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.

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.

Just Listed – Show Stopper in West Linn!

Posted on by Robin Hakeman

 

Absolute Show Stopper in Weatherview Heights! 

 

Live large in this 4 bedroom home with all of the extra space you need!

Abundant natural light and dramatic views of local tree tops & the Cascades.

Extra wide hallways and 9 ft ceilings on the main & lower levels.

 

Spacious gourmet kitchen & great room with stone fireplace.

Oversized island, farm sink & a 5 burner gas range for all of your gourmet cooking needs!

Retreat-like Owner’s Suite with tree top views and tons of space.

Double sinks, garden tub & a large walk in closet feel like luxury!

 

Two generous bedrooms share a Jack & Jill bath.

And a spacious laundry room is conveniently located upstairs.

 

An office on the main floor has the prefect amount of privacy & light.

 

 

The lower level is where the party is at!!

A huge family room & play space, which is plumbed for a wet bar.

And the 4th bedroom + a full bath complete the space.

 

Step outside to the perfect outdoor paradise .

A covered patio with twinkle lights is the perfect evening conversation spot.

The flat, spacious yard features raised garden beds with irrigation, a play structure and professional landscaping.

Elegant & timeless, this is the perfect place to call home!

 

Just Listed – Amazing in Arbor Cove!

Posted on by Robin Hakeman

 

Stunning West Linn home in sought-after Arbor Cove!

 

Open kitchen with large island & eat at bar.

Stainless steel appliances and newer refrigerator are included.

Plenty of cabinet space plus a pantry closet for extras!

 

Featuring Brazilian Cherry hardwood floors and 9 ft ceilings, the open layout is inviting & warm.

Fresh paint throughout the main living space.

 

Spacious living room with built in cabinetry & tons of natural light!

 

Expansive owner’s suite with ceiling fan & coffered ceilings. 

Double sinks and ample storage plus a garden tub & large walk in closet.

 

3 Additional Bedrooms upstairs – flooded with natural light & attractive accent colors

 

The office on the main floor is the perfect place to work or play.

A tongue & groove accent wall sets the tone for a creative space.

 

Easy care yard with covered area, deck, paver patio & dog run.

Front yard maintained by the HOA! 

 

The sought after Arbor Cove neighborhood is just across the street from the Tualatin River & Field’s Bridge Park.
Down the street is the charming Historic Willamette area with restaurants, shops & fun events year round. 
Don’t miss all this gorgeous home has to offer!

 

 

Just Listed – Bright Montavilla Bungalow

Posted on by Robin Hakeman

The most darling bungalow you ever did see!

Freshly painted inside and out, this 2 bedroom – 1 bath home is just waiting for you to move in.

The Family Room features hardwood floors & large vinyl windows allowing for ample natural light!

In the kitchen you’ll find updated cabinetry, countertops, tile backsplash & stainless steel appliances including a gas range.

 

Two bedrooms feature vinyl windows, updated light fixtures & plenty of closet space. There is also extra built in storage in the hallway.

The bathroom features a pedestal sink, tile floors, tub/shower combo & medicine cabinet for storage.

Out back you’ll find a spacious deck & low maintenance yard that is fully fenced for privacy!

Convenient to shopping & freeways, parks + all things Montavilla!

 

Just Listed – Fox Hill Beauty!

Posted on by Robin Hakeman

Stunning Fox Hill home on a fantastic cul-de-sac. Freshly painted interior – light & bright!

Additional updates include refinished hardwood floors, updated bathrooms & laundry room, 50 year roof and finished attic space for extra storage.

The kitchen is remodeled with updated cabinetry, stainless steel appliances, a gas cook top and plenty of storage.  Just beyond is the oversized family room with gas fireplace & room to relax.

A nook sits just in between – a perfect spot for casual meals with a slider to the patio.

The formal living room features a wood burning fireplace & large windows beaming with natural light. Next to it, the dining room is a wonderful place for hosting guests.

Upstairs are four bedrooms plus a bonus room/den. The spacious owner’s suite features vaulted ceilings & french doors. A well appointed en-suite bath has double sinks, tiled shower & a free standing tub.

The yard is fully fenced & easy to maintain. There’s a patio for entertaining and level grass space for pets and play!

Location can’t be beat with easy access to I-5, I-205, West Linn/Wilsonville Schools & tons of amenities. The neighborhood has a pathway along the Tualatin River that connects to Brown’s Ferry Park!

 

Sometimes Everything Changes

Posted on by Living Room Realty

My clients loved their California home for decades, they made a lifetime of memories there. They enjoyed amazing friends and neighbors, being close to the beach, and weather that many people just dream about. Their kids were grown, living in Portland, which gave them  every opportunity to visit their second favorite city often. There had been talk of a small vacation home in Portland, but they never imagined they would leave their home. Fourteen months ago everything changed. The pandemic caused a lot of people to reevaluate their priorities and for my clients the importance of being geographically close to their kids was clear.

We spent a lot of time touring homes in search of just the right place. When moving to a new city it can take some time to figure out the right neighborhoods and architectural styles to suit you – so we explored. After narrowing down their ideal neighborhoods and really solidifying what they needed in a home we started making offers. It took a couple of times in this fierce market, but when we found their new home we got competitive and it felt like the stars had aligned. Their son and daughter in-law had lived near this home when they first moved to Portland and affectionately called this “the banjo lady house,” because one of the owners was often out front playing her banjo on the porch when they would walk by.

As we moved through our transaction we learned that the sellers and my buyers had a very similar story. Both were leaving their long time homes to be closer to family. Both were artistic and musical, “old hippies,” as they described themselves. Everything about this transition felt right. Soon this home will be the, “flute guy house,” and I just can’t wait to hear the music float through the neighborhood!

 

 

 

What’s Meant To Be Will Be

Posted on by Living Room Realty

Reilly and Jaime were referred to me by a local lender and I have to be honest, from the first conversation we had I was thrilled to be working with them. They’re both in their 20s, out of college, and finding their paths in the world. The task ahead of us: find their first home.

Side Note. I have to nerd out for just a minute. I love working with first time homebuyers. I love it because I believe in home ownership as the jumping point for people to start building longitudinal and generational wealth. Homeownership is something I want to see for everyone at some point in their life. It especially excites me for young people to start owning as soon as possible, it opens up so many opportunities in the future. I have many friends who have started businesses, confidently changed careers, and/or retired early as a result of early home ownership.

Back to Reilly and Jaime. We knew they wanted to be in Vancouver and we quickly distilled their wants and needs to figure out exactly what we were looking for. We talked about the challenges in the current market and the strategies I like to employ to be competitive (we are in a heavy seller’s market right now). Some things will always be standard, but sometimes coloring outside of the lines is exactly what you need to do.

We looked at several houses and it didn’t take long until we found the house they were looking for. It checked the most important boxes. We made our offer. So did a dozen other people. We got beat out, barely, but we were in the #2 position, something I was more excited about than they were – because I knew it meant we still had a chance. We kept moving forward and looking at other properties, that’s how it goes. A couple of days later, just as we were getting ready to write an offer on a house that was great, but not quite as great as the first one, I got the call. The first position buyers had backed out due to cold feet and we were now in first position for them to buy the house they really wanted. Calling Jaime and Reilly to tell them the news was my favorite phone call that day.

Happy new year. Happy new house.

Posted on by Living Room Realty

Maggie and Craig originally started their home search in early spring. The Covid-19 pandemic shut-down in late March put the brakes on their search. They simply weren’t interested in making a big purchase decision in such uncertain times.

Fast forward to late October and they were ready to restart their search with a strategic approach. After narrowing their locations by selecting a short list of elementary schools in the Portland area, Maggie and Craig prioritized homes that were bikeable to a MAX line and to downtown hospitals for Maggie’s work. They are a one-car family and they wanted to stay that way!

Before touring any home in person we prescreened homes with drive-bys, video tours, aerial map views, street-views, and floor plan drawings. We checked house history on portlandmaps.com and reviewed old listings for extra clues to the interior of homes.

Even as the pandemic continues to have a huge impact on our world, home buyers need to be ready to move fast and make quick, confident decisions in this fast-moving market. Homes are going pending in days. Multiple offer situations are common. And interest rates are fabulously low.

Despite the low inventory of homes for sale during this pandemic, this family found the perfect home. It’s a beautiful 100+ year old charmer with high-ceilings, beautiful woodwork, and a covered porch. The home has been well-cared for and the yard has great entertaining space, a picket fence, and climbing trees. It’s just 3 blocks from beautiful Westmoreland Park, it’s right on the bike route, and is walking distance to a MAX station. Coincidentally, it’s only 2 doors away from where they live now.

Happy new year to this happy family!

– – – – – – – – – – – – – – – – – – –

Interested in making Portland your home?

Call Cheri Harney, at 503-319-4858.

Top 3 Portland Market Trends: October Edition

Posted on by Robin Hakeman

The Portland market continues to thrive, despite everything else 2020 has brought us. With only 1.1 months of inventory at the end of September, the market remains strong for sellers. For buyers, the competition is fierce as ever. Here is a quick snapshot of how things are looking versus last month & last year:

2020 has brought so much change to our communities. While the real estate market has thrived, buyers and sellers make decisions in a different way. New trends are popping up as we re-evaluate how and where we want to live. Here are the top 3 trends we are noticing in the Portland market.

1. “We need more space!”

A few weeks into lock down this March, I received a call from a buyer who simply needed a home NOW. They had downsized a few years earlier and were doing fine in their small condo, until COVID hit. With the extra time spent at home, a growing daughter and the need to work from home – it was time for them to purchase a house again. I have heard this anecdote over and over this year. Buyers recognize the need for extra home office space, a garage to work out in, and maybe a she-shed for some personal space away from the family. Many people don’t plan on going back to work in an office for quite some time. With interest rates being so favorable, we are seeing more first time home buyers joining the market as well.

We are also seeing a growing number of buyers searching for homes with a mother-in-law suite. This trend isn’t brand new, especially with the popularity of ADUs in Portland. However, the onset of COVID-19 has increased the need for families to be under the same roof. Many families with elderly parents feel that caring for their loved ones in their own home is safer. Others have noted that they need extra help with the kids while working from home. These homes are in high demand right now and they are not easy to find!

2. “We want LAND.”

For the last five years my businesses has primarily been focused on Portland and the close in suburbs of Lake Oswego, West Linn, Tigard, Tualatin and Beaverton. This year the number of buyers who have contacted me wanting land has increased substantially. I have buyers are looking for properties with 1-5 acres from Wilsonville to Damascus. A popular anecdote is, “if we are going to be stuck at home, we need room to roam.” Buyers are also looking for property with a separate shop and a view of Mt. Hood. Not surprisingly, home prices in these areas are up between 5-12% over last year.

3. “We are moving to Idaho!”

Raise your hand if you have heard someone say, “I’m moving to Idaho.” As your hands go up, so will mine.  I have heard this from multiple people over the last few months. While Oregon isn’t seeing a mass exodus of people fleeing the state, we are experiencing some movement. And according Business Insider, “Idaho had the largest net gain, where 194% more people moved into the state than out during the pandemic.” Oregon ranked number 7 on the list, where only 2% more people moved into the state than out during the pandemic.

Our friends and clients say they are attracted to the lower cost of living and the beauty of the state. The pace is slower yet there are plenty of outdoor activities. Our next door neighbor purchased a small home in Boise this summer. They have it set up as an Airbnb and plan to retire there eventually. Another client sold one of her rentals in Beaverton and will purchase an investment property in Idaho this fall.

If you or someone you know is in the market for more space, room to roam or a move out of state – contact me today!

Light and Bright in Downtown Molalla

Posted on by Living Room Realty

Sometimes you want to be out of the city, but not out of a city. Molalla is a great community for people who want a little less hustle and bustle but still enjoy their creature comforts. This completely refreshed Bungalow is move in ready and perfect for a first time homebuyer or someone looking to downsize. Enjoy peace of mind with updates including a new electrical panel and electrical updates, new siding, new gutters, new garage door, new vinyl windows, new kitchen with butcher block counters, updated bathroom, refinished oak hardwood floors, new doors and trim, and fresh paint. There is also an attached single car garage with laundry hookups and ample driveway space. Close to coffee, restaurants, and everything else the city has to offer.

Sunny Beaverton Townhome with Master on the Main

Posted on by Robin Hakeman

15508 SW Peridot Way

Beaverton, OR 97007

Sunny Beaverton townhouse with master on the main! End unit!
Family room with gas fireplace & high ceilings. Upstairs is an open loft – perfect for an office or flex space. 2nd bedroom & full bath also upstairs.
Brand new carpet & interior paint. Brand new deck that is serene and private, backing to the green space.
Newer roof, exterior paint & water heater. Single car attached garage with laundry.
This home is part of a gated community & is completely move in ready!

OFFERED AT $299,900

2 BEDROOM + LOFT  | 2 BATH | 1,335 SQFT
MLS#20361996 | TAXES: $4,307

Perfectly Perfect in West Linn

Posted on by Robin Hakeman

 2288 Rogue Way

West Linn, OR 97068

Stunning custom home backing to Douglas Park!
Soaring ceilings, gorgeous wood floors, high-end millwork & updates throughout the home.
The kitchen features fresh white cabinetry, stainless appliances, a large island, breakfast nook with built in bench seat & ample storage. The entire main floor is open and spacious – it lives so large!
The beautiful owner’s suite has park views and an updated bath, plus a large walk-in closet. Two additional bedrooms each have én suite bath. The large bonus room upstairs is the perfect place for relaxing. An office on the main is ready for your work from home needs.
Step outside to the covered patio & private, lush yard. A pergola sits atop a paver patio making a wonderful conversation space after dinner. The 3 car garage has plenty of storage & a newly built loft area.
This is the West Linn home you have been waiting for!

OFFERED AT $869,900

3 BEDROOM + BONUS + OFFICE | 3.5 BATH | 3,312 SQFT
MLS#20005189 | TAXES: $9,303

Bringing Julie Home

Posted on by Jené DeSpain

A few months ago, an amazing local lender referred me to a couple searching for their first home. This lender and I have rocked a number of amazing transactions together, and I always adore the clients she connects me with. Mark and Julie were no exception. From the moment we met, I felt an absolute bond. They were funny, full of spirit, and had a strong idea of exactly what they were hoping for in their first home. We hit it off like fireworks.

Each day we spent together looking at houses was full of laughter and lots of Starbucks coffee. Julie loves Starbucks. After a few months, we found a gorgeous 3 bedroom ranch with a lovely backyard for their dogs and a beautiful new kitchen, complete with her request for a large window over the sink.

The one aspect of the place that Julie didn’t care for – the roses all along the front walk. “We’re gonna tear these out and you can have them Jené.” Julie said on her closing day.

I looked at her in disbelief. ” You don’t want these roses?!”

“They’re yours!” She exclaimed.

I couldn’t be more excited. As the weeks had gone on, I had become quite fond of our visits together and realized I was really going to miss seeing Mark and Julie regularly. While I know I will have the delight of going to visit them at their new place, it won’t be the same as our house hunting outings. Having the roses from their new yard come to stay and flourish in my garden will feel like bringing a lil part of Julie home with me. I can’t wait for their first bloom so I can bring her a bouquet of Portland’s local pride.

Congratulations Julie and Mark! It truly means so much to me to have had the honor of meeting you, building community with you, and helping you find your gorgeous home!

Gorgeous Metzger Home!

Posted on by Robin Hakeman

8000 SW Cedarcrest St

Portland, OR 97223

Bright, beaming & move-in ready!

This gorgeous Metzger home has an 0pen floor plan with engineered hardwoods throughout the main floor. The kitchen features a granite island with breakfast bar, stainless appliances, gas range and a pantry. A separate dining area leading to the patio is just beyond the kitchen.

Upstairs, the vaulted owner’s suite features a reclaimed wood accent wall, ceiling fan, large walk-in closet & en suite bath with dual sinks. Two additional bedrooms are light and bright with standard closets. The laundry area has built-in cabinetry and a hanging bar.

Work from home in the main floor office!

Step outside to a partially covered patio and fenced yard with garden beds. Out front is a yard with new sod, sprinklers & fresh landscaping. A short distance to Metzger Park & situated between I5 & 217.

There is so much to love in this Gorgeous Metzger Home!

OFFERED AT $424,900

3 BEDROOM | 2.5 BATH | 1,676 SQFT
MLS#20106615 | TAXES: $3,750.07

When you decide to buy a house together

Posted on by Living Room Realty

 

Sometimes buying a house together is just a breeze.  This was one of those times.  Kara and Nicole are one of those couples that works well together and were on the same page while shopping.  Looking to move out a little further for some more space, inside and outside, these two were open to a lot of options.  They settled on outer lents in a delightful little pocket neighborhood.

Kara was my very first client in 2013 and it has been great to watch her grow both personally and professionally and continue developing our friendship along the way.  These two caring, giving nurses brought masks to us and special treats specifically for me as I dealt with some health concerns.  It’s great to see them settle in a house that will allow for them to build their future family together.  It has been very rewarding to be part of that process. I can’t to see what the future holds for them!

Stylish an Bright in Beaverton!

Posted on by Robin Hakeman

10968 SW Lindenwold Ct

Beaverton, OR 97005

Gorgeous Beaverton home with high-end style! Sought-after layout with 4th bedroom or bonus room + office. Schoolhouse electric lighting and hardware, Smith & Noble window coverings and elfa shelving in the garage. Wide plank engineered hardwoods, quartz kitchen with large island & eating bar.
Gorgeous master bath with tiled walk-in shower, soaking tub, dressing area and walk-in closet. Fourth bedroom could also be a bonus room. Large windows with views of the trees and a south facing backyard that provides filtered natural light throughout the day.
Centrally located to Nike/Tech and downtown, Ridgewood View Park nearby.
So much quality & style in this beautiful Beaverton home!

OFFERED AT $699,900

4 BEDROOM | 2.5 BATH | 2,755 SQFT
MLS#20587327 | TAXES: $7,622.47

Real estate in the time of COVID-19: Part I

Posted on by Natalie Tracy

The most common question I get from clients of late – buyers and sellers alike – is “what’s it like to buy/sell a house right now?” The short answer is: not much different than buying/selling a house at any other time. The long answer: well, it is different in some key ways.

First and foremost, those of us conducting real estate right now want to keep people safe. We want to do the very best for our clients, as always. But that means doing our best to keep them safe while also getting them the house of their dreams and/or selling their house with an optimal outcome. To this end, the first big change to the home buying and selling process in the time of COVID-19 has been the huge shift to virtual options.

We’ve had the options of 3D virtual tours, video tours, virtual showings, and virtual open houses for a long time now. But when we could be face-to-face with most folks most of the time, virtual was more seen as a nice-to-have versus a must-have. During a pandemic, when we need to limit in-person contacts for everyone, virtual has taken center stage and become an absolute must.

All of my listings now have 3D virtual tours and video tours. I offer virtual showings to all of my buyers, and make them available on all of my listings. I am starting to offer virtual open houses on all of my listings. This takes what used to be a much less accessible and much more time consuming process for buyers and potential buyers, and makes it accessible to everyone and much less time consuming.

For instance, if buyers are interested in ten homes, but they can narrow that down to two homes by viewing 3D tours and/or having virtual showings – guess how much time they save, let alone how much less driving has to happen? It’s a win-win for people and the planet. And it allows me to more efficiently and effectively serve my clients, hooray! Additionally, those folks just beginning the process, who may not yet have an agent helping them, have full access to homes virtually. It helps them dream and plan, and it can also help them find THE one!

So a much bigger push to virtual is the first key change to buying and selling homes in the time of COVID-19. And with the need to rethink how we do business longer-term for the sake of our planet, this is a change I believe will stick around. Even when we can conduct business more readily in person again.

Stay tuned for more soon!

Quiet, with a Pool & Hot Tub

Posted on by Jené DeSpain

As an emergency room nurse, the last few months have catapulted Nee’s daily routine into an entirely new level of chaos. Back in January, we started looking at a variety of options on the market for a house close to her work. She wanted something that felt peaceful, light, airy, perhaps a little like a glamorous mid-century cabin in the woods. Something with privacy and a relaxing backyard. After looking and looking for weeks, we weren’t finding anything that felt right. Then late February hit, and everything came to a halt. She was working triple 18 hour shifts, back to back. The house hunting was going to have to pause. But after a few weeks of chaos at work, she was aching for peace and quiet at home. Nee gave me a call. She really needed a home immediately. I got right to work, going double-time to find her something to bring her some ease.

We expanded our search area just slightly and found an absolute dream home for her. Gorgeous corner lot, tons of space for entertaining, and a huge pool made by AguaPools.com surrounded by a wrap around deck, for less than we had been hoping to spend! With its’ herringbone wood floors, multiple fireplaces (including one in the master bedroom) and solar panels, we knew we had found a very special place. We worked quickly to beat out the other offers and happily got into contract with the listing agent and his seller. After successfully negotiating for a full credit towards her closing costs and a great roof certification, she and I couldn’t have been more happy on her closing day. Nee, thank you for all that you do for our beloved City, and thank you for the incredible honor of getting to work with you during such a wild time. Congratulations on your new home! I can’t wait for all the pool parties to come!

 

Sweet Cully Ranch With “Wow Factor” Yard

Posted on by Living Room Realty

 

4629 NE Alberta St, Portland, OR 97218

OFFERED AT $475,000

3 BEDROOM | 2 BATH | 1,174 SQFT

MLS #20683865 | TAXES: $4,272.30 (2018)

Bright and cheerful remodeled ranch on large (possibly dividable) lot that backs to a community garden. Cozy up to the wood-burning fireplace in the living room, or gather around the kitchen island in this open floor plan setting. Remodeled kitchen features stainless steel appliances and tiled countertops and connects to the dining area that opens to screened-in back porch. Hardwood floors lead you to the bedroom spaces which feature an en suite master bedroom and 2 more bedrooms with guest bath. Large yard includes beautiful outdoor spaces with a covered porch and deck, a patio space for outdoor dining, fire pit, chicken coop and a fenced garden area with raised beds. Many established fruit trees and bushes mean many opportunities for canning or freezing fruit for year-round enjoyment. Home has large, 2 car garage and ample parking space in driveway. Nearby to one of Portland’s great commercial districts on NE 42nd Ave with shopping and dining, and is down the road from Fernhill Park.

If you or anyone you know is looking to buy or sell a home in the Portland area, please contact Amanda Haworth at amanda@livingroomre.com or 503-453-7698.

 

Brentwood-Darlington Rehab Opportunity

Posted on by Living Room Realty

Situated in SE Portland’s Brentwood-Darlington neighborhood, this ready-for-rehab home offers comfortable living spaces and natural light. Detached garage has been used as shop and has electricity. Tool shed in private, fenced back yard for storage. Several city parks, community gardens and the large food  cart pod “Cartlandia” nearby. Easy access to shopping, restaurants and I-205.


A Creative Key Day – Social Distancing in Real Estate

Posted on by Living Room Realty

Working as a REALTOR® is a very personal and intimate profession. We are constantly entering homes, meeting with our clients throughout a transaction and hosting open houses, where if we are lucky, a large number of people come into contact with us.

With the level of care that we take to be physically involved with our clients in their process of purchasing or selling a home it is no surprise that enforced social distancing regulations has brought forward opportunities for REALTORS® to think outside of the box of our typical practices!

Over the past few weeks I have been following closely the guidelines and suggestions from the National Association of REALTORS® and looking to leaders within Living Room Realty’s brokerage for how, as an industry, we should navigate our normative practices in the midst of COVID-19.

As a person who genuinely loves a challenge and even more loves being creative, I decided that I would come up with a way to physically see my client on key-day while having a light-hearted take on social distancing. Key-day is often the most joyous of days in the process of home buying and I wanted to make sure that I was taking the correct precautions to keep my client safe but also maintaining the “fun” in such a special day.

How did I achieve this mix of safety and fun you may ask?

In regards to safety I used gloves and Clorox wipes to give the keys, key-chain and a clear plastic gift box a good wipe down. I then sealed the box with fresh ribbon and sprayed the finished product with Lysol disinfectant spray.

In Regards to the fun; I then took the sanitized key box and attached it to a brand new cat toy wand so that when I was face to face (and at least six feet apart from my client) I could effectively and safely transfer the keys to his hands – touch free!

I could feel my smile going ear to ear as my client laughed with me and shared his entertainment of my methods. Not only did we still have fun on key-day we were able to do so safely.

I am a firm believer that using my resources of creativity during times like we are seeing today, will serve me in future transactions. Experiences like these promote innovation in our practices as REALTORS® and may even prompt more “fun” in the process for our clients!

Stylish Craftsman in Beaverton!

Posted on by Robin Hakeman

10968 SW Lindenwold Ct

Beaverton, OR 97005

Stylish Craftsman with high quality upgrades! Functional layout with 4th bedroom or bonus room + office. Schoolhouse electric lighting and hardware, Smith & Noble window coverings and elfa shelving in the garage. Wide plank engineered hardwoods, quartz kitchen with large island & eating bar.
Gorgeous master bath with tiled walk-in shower, soaking tub, dressing area and walk-in closet. Fourth bedroom could also be a bonus room. Large windows with views of the trees and a south facing backyard that provides filtered natural light throughout the day.
Centrally located to Nike/Tech and downtown, Ridgewood View Park nearby.
So much quality & style in this beautiful Beaverton home!

OFFERED AT $749,900

4 BEDROOM | 2.5 BATH | 2,755 SQFT
MLS#20003354 | TAXES: $7,622.47

Tips For Safely Selling Your Property in a Pandemic

Posted on by Erika George & Kari McGee

It’s March 15th, 2020 and we are at the beginning of a Covid-19 outbreak in the greater Portland area. That might be scary for a lot of reasons but particularly for property owners who need or want to sell their homes this spring, while they are still living in their properties.

Well, stay calm because we have some great tools that will allow us to effectively and safely market your property to a large buyer audience while minimizing the risk of bringing Covid-19 to your personal residence.

Watch our latest video to see how we’re using technology to help buyers decide that they are serious about purchasing your property before they even walk through your front door! And check out an example of our 3-D tour.

ADU. Is It For You?

Posted on by Bobby Curtis

Bobby Curtis was back on KATU’s Afternoon Live to discuss adding Accessory Dwelling Units (ADU’s) or fully functional separate living spaces to your current property. It’s pretty hot in Portland right now, but is it for you? Click to watch the short interview here Or skip right to the highlights below.

What need does an ADU fulfill?

1. More housing in Portland.
2. Extra income for the home owner to help pay mortgage.
3. Multi-generational living on one property

Quick facts

1. Cost: $125k-$250k with permits, materials, labor, and utilities.
2. Going rents for new ADU’s are $1000-$1500/mo
3. They can be separate units- all new construction, converting an existing structure like a garage or even a basement.

Check with your city inspectors about ADU requirements

1. To see what type of permit is required if you want to use it as a short term rental
2. There are parameters ADU’s must meet – Example in Portland it can be no bigger than 800 SF or 75% of the SF of the primary house.

Things to consider with additional dwelling units on your property

1. New tax scenario for your property
2. Whether having tenants, short term or long term will work for you
3. Losing yard space or basement

Classic Belmont Bungalow

Posted on by Erika George & Kari McGee

NEW BELMONT LISTING!

727 SE 48th Ave., Portland, OR 97215

You’ll love this classic PDX bungalow in the heart of SE Belmont! Versatile floor plan with three floors of gracious living space. Delightful front rooms with warm fir floors and unpainted woodwork. Master options on main and second floors, full bath on each floor, and lots of closet space and built-ins. Great ADU/Rental potential in the modern, bright basement; plumbed for kitchen or wet bar, with separate side entrance.

Private side yard perfect for pets and green thumbs. Short distances to Laurelhurst and Mt. Tabor parks, and the restaurants and shops of Belmont!

Don’t miss our kitchen remodel design package and 3-D tour!

OPEN SATURDAY February 8, from 1 – 3 p.m.
OFFERED AT: $565,000

3 bed | 3 baths | 2,248 SF

MLS# 19031823 | Taxes: $6,408

Firehouse Row – Living History

Posted on by Bonnie Roseman

Brendan and Mary landed a piece of the past!

Victorian in SE Portland
A Portland original

At the corner of SE Harrison and 7th Avenue a number of Victorian era homes have been carefully preserved. Originally built in 1893 as rental homes, shortly after East Portland was annexed by the booming City of Portland. One of the renters, Lee G. Holden, designed the adjacent fire station (circa 1913) and these houses were often home to firefighters who worked at Engine No. 23 and their families. The firehouse itself later made history as Oregon’s first medical cannabis dispensary and now their bud tenders offer medical and recreational weed.  They have maintained the original facade and some of the other architectural features of the old station. Commonly called Firehouse Row, the official name of this little enclave of Queen Anne lovely ladies, added to the National Historic Registry in 1989, is The George P. Lent Investment Properties. George, who was born in Portland in 1852 to the eponymous Lents family, of the Lents neighborhood, built the now famed homes.

Then and Now

When Brendan and Mary described their wish list for a first home of their own, this beauty with its turret, colored glass and other historic architectural details came right to mind. It was love at first sight. Navigating a VA loan, with all the extra requirements regarding property conditions, on an 1893 historic home, was a bit of a battle. Also, the home was being used as a short term rental, further complicating inspections and repairs, because we had to schedule all of our appointments around guest bookings. In the end we got it all successfully squared away.

Gracing the walls of the Airbnb, the sellers had some very old mounted photos of the house and neighborhood on display. As a wonderful gesture they left them for Brendan and Mary to enjoy. A very sweet gift! The block is still intact, providing a rare site of old, old Portland housing.

On their project list is repainting the exterior. Mary and Brendan contacted Bob Buckner, famed color expert of The Painted Ladies Revisited and other works on Victorian homes and he coded photos of the house to guide them through how to get the paint job just right. I cannot wait to see it!

References: Multnomah Pioneer Obituaries, Wikipedia, Placeandsee.com, https://www.cannablissandco.com/firestation-23-portland-or

House Hunting Adventures Gone Right

Posted on by Robin Hakeman

What happens when you aren’t from Portland? You look at homes in your price range wherever they may be! Think NE Portland, SE Portland, SW Portland, Milwaukee, Oregon City, Sherwood, Tigard, Woodburn, Canby, Gervais and Newberg. It was a whirlwind of house hunting with these two but it was nothing short of adventurous. We saw gigantic spiders, ceilings that were too short for us, tires that were taller than us, a LOT of wall paper, a little mary jane and had our first experience with an Opendoor home.

Patrick and Sarah decided on a cute Newberg ranch in a nice neighborhood, close to the aquatic center. With a little love this will be a darling home for them. They plan to put in new floors and carpet, paint the interior and remodel bathrooms before moving in. These two have big plans for their life: grad school, getting married, and owning a lot of real estate are just a few of them. They are smart and fun, easy going and kind.

It’s clients like Patrick and Sarah that remind me why I love being a REALTOR®®. I will adventure with you guys anytime!!!

 

Rock Out Butte

Posted on by Living Room Realty

I couldn’t have been luckier than to have helped Davey buy his first home. From the beginning he was informed, inquisitive and knew what he was looking for. My favorite kind of client!

We found him a great little house at the base of Rocky Butte, and he is STOKED! He can’t wait to set up a practice space for his band, Dry Wedding (facebook.com/drywedding), in the garage. In fact, during the repair negotiation process he was in the studio recording their new album!

It was an absolute delight to work with Davey, and I hope he’s happy in his new home for many years to come.

If you or someone you know is looking to buy or sell a home in the Portland area, please contact Amanda Haworth at 503-453-7698 or amanda@livingroomre.com.

We used ALL the signs.

Dog Days of Fall

Posted on by Natalie Tracy

When you want a house that’s as much of a fit for your dog as it is for you, finding one that you love — with a huge yard and a dog park nearby — is the fairytale ending. This is exactly what we found for Rebecca and her adorable dog, Jack.

As a first time buyer, Rebecca was prepared. She met with me and her mortgage broker early on, and we helped create a plan well ahead of starting her search. So when she was ready to move forward, she had a clear vision of what she wanted. After we explored a few neighborhoods, she honed in on what would give her the perfect blend of access to transit, walkability, and space for Jack. On one of our weekend outings, we had five houses lined up to see – the first three were a clear no, but the last two both had potential. It was a tough decision momentarily, but when she pictured herself in each house with Jack, one stood out as the clear winner.

Like every good fairytale, there were a few bumps in the road, and the victory was sweet. She got the dream house. Jack got the dream yard. Jack has never had a yard before, and now he has one of the best in Portland!

Playing Fairy Godmother

Posted on by Bonnie Roseman

Once upon a time…

In the metropolis of Portland, Oregon, two delightful newlyweds were seeking a mid-century modern home to share with their canine babies. We searched high and low and there were many twists and turns on the journey. This would be their first home of their own and the budget was limited and the challenges were great. The available properties were too far away for comfort, so as frustration and disappointment loomed, I made a suggestion.

“Go one step at a time,” I said, and “consider buying a stepping stone home.” “What?! People do that?” they replied. “Why yes…” I explained, suggesting they find the best fit for their current lifestyles and budget.

A starting place

So, instead of going for sprawling, they went vertical and took their 2007 skinny to its highest potential, infusing it with quality touches throughout. They made bold choices: eye-dazzling teal trim, midnight walls in the bedroom for the ultimate sleeping environment and they added high style with Rejuvenation lighting and hardware.

Last week Bryan and Justin said goodbye to that first home and hello to their forever home! Patience paid off and they now get to bring their special brand of design magic to an exceptional mid-century modern home in the hot hamlet of Milwaukie, just beyond Portland’s southern border, in the Oatfield area.

The flyer for their first home in the Roseway neighborhood in NE Portland

Without a hitch

The magic key to the new castle

The stars aligned and it was easy to help make their wishes come true this time around. Bryan and Justin had their eye on their dream home before the official first day on the market of their current home, but they didn’t want to risk a contingent situation, so they waited. The wait was just 5 days! They accepted a full price offer on their place and immediately got their offer accepted on their mid-century dream home, tucked into a magically treed lot on Kingston Rd. – perfect for #TheTwoKings, as they are known!

 

I eagerly await the transformation Bryan and Justin will bring to bear on their wondrous new home, where the #TwoKings shall live happily ever after…

Less Stuff, More Life

Posted on by Veronica Powell

 

 

That’s what moving from a 2700 SF house to a  1500SF condo in the Pearl is all about.  It’s about walking to everything.  It’s about joining a new community.  It’s about simplifying.

If this sounds like the direction you’d like to see your life go.  Give me a call. We can get ‘er done!

 

Veronica Powell

503.936.3475

Veronica@LivingRoomRE.com

 

 

Gorgeous North Portland

Posted on by Karim Alaeddine

Gorgeous North Portland

8955 N Clarendon Ave | Portland, Ore 97203

Offered at $549,900 | MLS # 19448962

4 Bedrooms | 2.1 Baths | 2.017 SF | Attached Garage

Gorgeous North Portland modern construction with all the bells & whistles. Chef’s kitchen w/custom cabs and breakfast bar, quartz counters, gourmet appliances. Master w/fireplace, walk-in closet, soaking tub & tiled shower. Designer yard by Sean Hogan; low maintenance, established flora w/patios and auto irrigation. Blocks from New Seasons, restaurants, parks, amenities. 2015 built; tankless water heater, whole house air filtration system, 95% efficient furnace.

For a Slideshow to all the photos click HERE

1st Annual RAoK Party! Random Acts of Kindness

Posted on by Bonnie Roseman

Celebrating Random Acts of Kindness!

February 17th was National Day of Random Acts of Kindness. What better to celebrate than kindness?! So, I threw a kindness party and we had a blast. About 50 people gathered at my office on SE 26th near Clinton to celebrate. I’ve been wanting to show off the beautiful space and it is perfect for a party.

Food

The guys from Mis Tacones served up some super delicious vegan tacos on tortillas fresh off the grill, posole and hand made tamales.  Yummy!!! Honey Bee Bakehouse wedding cookies, both vanilla and purple yam, were sumptuous.

Abram and Carlos of Mis Tacones

Fun

Guests decorated cotton drawstring bags with permanent fabric markers, set the ink with hair dryers and then filled them with an array of necessities. Guests got to leave with a kindness bag on hand to gift to someone in need. What a great feeling to be able to share socks, gloves, snacks and other items in a really cool bag!

 

There were some very talented artists!

Bits!

What else did we do? Well, folks got to spin the Wheel of Kindness and meet Bits, a pot belly pig. Bits and his mom, Alyssa, were the guests of honor and gave folks the opportunity to get to know a rescued pig. So many people adopt cute baby piglets, only to relinquish them when they climb to 200 pounds +/-, leading to the need for foster and adoptive homes. Alyssa is a member of Northwest Miniature Pig Association (NWMPA), a group that offers support to those with pigs and to pigs in need. Bits was a wonderful guest and a real sweetie!

Let’s do it every year, the Sunday after Valentine’s Day!