Tag: Seller Market

How to Choose Your Buyer

Posted on by Living Room Realty

No doubt it is exciting to receive multiple offers on your home, but when it comes time to actually accept an offer it’s not uncommon for sellers to feel torn or unclear as to which is the best offer for them (it can be different for every seller).

Home offers are hard to interpret so I wanted to offer some helpful tips for when you find yourself in a multiple offer situation (perhaps a Part I?):

—Offer language tells a lot 📝

A purchase offer clearly indicates a buyer’s intentions (along with the more obvious details like if they are qualified, ready to purchase and have a lender in place). In a pool of offers, a realtor with the right skills will identify those that are authentic and well considered.

—The buyer’s agents’ communication style 🗣️

When you sit down with your agent always ask about their take on the agent representing the other party. Communication style, what they say or don’t say, can say a lot about how the transaction can go. Keep your eye out for the agent that will ask well-constructed questions, will make sure to put forth a well-written offer, and educate the buyer about the terms discussed.

—Buyer’s past experience in the market 🏡

Have they been looking for a week or 3 months? Have they had issues with their past offers? Paying attention to details like past contracts, finances, and people involved in the purchase decision gives you a more robust understanding the offer and will help set expectations moving forward.

Did you find these tips helpful? Let me know if I should make a Part II.

Also! I share a lot more insights as a part of my monthly newsletter. I keep these correspondences very intentional and insightful. If you want to join my list, call or email me.

OUR HOT MARKET CONTINUES… (With Some Good News!)

Posted on by Aryne + Dulcinea

Our market continues to be a strong seller market, and after both the heat wave and the 4th of July weekend, we are seeing more inventory come on in combination with low interest rates–Jenelle Isaacson shares why now is a good time to make a move!

 

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

Just How Much Over Asking Do You Need To Pay?

Posted on by Aryne + Dulcinea

Our company evaluated the numbers for residential homes sold in quarter one. The numbers above include all types of residential housing, including fixers and attached homes. With this said, how much should you plan to pay for your home? That super cute, dialed, right priced home right now is likely going to sell for much higher than the numbers below suggest. Call us for more details and we will help you navigate Portland’s current market.

 

About Us: Over the course of their professional partnership, Aryne + Dulcinea have helped over 200 clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

Is the Buyer Bottleneck Starting to Soften?

Posted on by Aryne + Dulcinea

Have you seen all the great new listings coming on the market? It’s starting to happen! More and more inventory. And boy oh boy, we have a great lineup of listings coming your way. With more and more inventory, buyers will have more choices, and less competition. How does that impact sellers? Sellers will still get great offers, and likely multiple, but not a pile. It’s better for everyone!

 

About Us:
Over the course of their professional partnership, Aryne + Dulcinea have helped over 200 clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

Banging Down The Door To Home Ownership

Posted on by Aryne + Dulcinea

Banging Down The Door To Home Ownership: How Buyers Are Winning Offers In Today’s Hot Market

We are seeing it all in this early 2021 Portland market.  While the following is not a recommendation on how to present an offer, and every listing is different from the last (different property, seller needs, and level of competition), we are seeing buyers give it their all.
Here’s what we see and hear buyers doing to beat out their competition:
  • Going high on price
  • Writing an appraisal bridge for price difference
  • Offering free rent-back up to 60 days
  • Providing a big earnest money deposit
  • Releasing earnest money either upon mutual acceptance or after the inspection contingency is waived
  • Taking the property in “as-is” condition, seller to do no repairs
  • Writing letters to the sellers
  • Offering to deal with any personal property the seller doesn’t want to take with them after closing

 

About Us:
Over the course of their professional partnership, Aryne + Dulcinea have helped over 200 clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.

The Biggest Issue Facing Housing in 2020

Posted on by Carrie Struss

This coming year the housing market will be defined by 3 things- inventory, interest rates, and appreciation.  But the biggest issue the housing market will face in 2020 is an inventory shortage.  There aren’t enough homes on the market for buyers, especially on the lower end of the market. This is a topic that has come up frequently within the past several months.

Based on what is forecasted, we know that interest rates are projected to remain low and that appreciation is expected to continue as we move into 2020.  Additionally, the upcoming election will provoke many unique perspectives on the health of the US housing market. The challenge will be understanding what is actually happening and how you can best position yourself if you are thinking of buying or selling your home.

Here are several perspectives to consider on the inventory issue facing housing next year

According to realtor.com

“Despite increases in new construction, next year will once again fail to bring a solution to the inventory shortage that has plagued the housing market since 2015. Inventory could reach a historic low as a steady flow of demand, especially for entry level homes, and declining seller sentiment combine to keep a lid on sales transactions.”

Diana Olick at CNBC

“Inventory has been falling annually for five straight months, after it recovered slightly toward the end of last year, due to a spike in mortgage rates. Rates began falling again by spring of this year. Homebuilders have been increasing production slowly, but it’s not enough to meet the increasingly strong demand.”

George Ratiu, Senior Economist with realtor.com

“As millennials — the largest cohort of buyers in U.S. history — embrace homeownership and take advantage of this year’s unexpectedly low mortgage rates, demand is outstripping supply, causing inventory to vanish. The housing shortage is felt acutely at the entry-level of the market, where most millennials are looking to break into the market for their first home.”

Bottom Line

The most important thing you can do is understand what is happening in your local market. You may not be able to avoid some of the issues brought on by low inventory, but you can be educated and prepared. Let’s connect and discuss the options that make the most sense for you and your family.

Pro Tip: Is Real Estate in Portland a Buyer’s or Seller’s Market?

Posted on by Aryne + Dulcinea

Portland’s real estate market has been known to escalate into red-hot periods of competition for buyers. With homes earning upwards of 15 offers during peak times, many prospective homeowners have been eager for a market slowdown. With fewer homes on the market, can we expect another sizzling stretch, or will Portland finally experience a cooling period?

 

UNDERSTANDING A SELLER’S MARKET

In a market where demand is larger than supply, sellers ultimately yield more power in real estate transactions. In these markets, buyers end up spending more for the homes they want, and multiple offers can drive home prices on a regional scale.

 

UNDERSTANDING A BUYER’S MARKET

When the coin is flipped, an over-supply of listed homes reduces the scope of competing offers, granting more control to the buyer-side of the real estate market. Sellers may have to take on restorative or staging measures to entice buyers, and buyers have the power to underbid on properties.

 

IS PORTLAND A BUYER’S OR SELLER’S MARKET?

In May 2018, Portland homes sold in an average of 37 days from listing to close, indicating a high degree of demand for properties in Portland. Average home prices also reflect this level of demand, as median home prices have increased 5.4% over the previous year. These metrics would suggest that the scales favor sellers; however, price growth has also slowed city-wide.

Rising mortgage rates may also be a contributing factor to a cooling market, but buyer’s don’t have the upper hand just yet. First-time home buyers are particularly sensitive to current marketplace trends, considering homes priced under $400,000 are significantly more competitive than more expensive properties.

 

PRO TIP: HOW TO NAVIGATE THESE MARKETS

More than any other factor, a lack of inventory seems to be the biggest influencer in determining a buyer’s or seller’s market. Oregon Live defines a balanced market as one where home inventory turnover spans approximately six-months. With only enough real estate supply to span two-months, Portland falls far below that benchmark – a dynamic that will continue to drive home prices upward in Portland.

Given the drop in the market, both sellers and prospective buyers will need to be intentional in their realty strategy. Sellers should be aware of being aggressive in marketing their homes, as pricing their homes too high many backfire in a slowed market. Buyers should monitor inventory, starting their search during periods of higher home supply to reduce the likelihood of bidding wars. This is especially prevalent in fast-growing cities such as Portland. A buyer’s or seller’s market can have major ramifications on housing transactions, so it’s important to have a thorough understanding of market trends. For more insight into the Portland realty market, contact your local real estate mavens, Aryne + Dulcinea!

 

About Us:
Over the course of their professional partnership, Aryne + Dulcinea have helped over 200 clients prosper in their new lives. During this time, they have prided themselves in their top-notch selling abilities, with homes outperforming market standards, consistently exceeding list price while most of their listings sell in under 7 days. Whether you’re looking to buy or sell, Aryne & Dulcinea will work in collaboration to guide you in investing in your future and reaching your real estate goals.