Blog Buyer Patience Pays Off for Mother Daughter Dynamic Duo

Patience Pays Off for Mother Daughter Dynamic Duo

By Alyssa Isenstein Krueger, May 21, 2019

Back in mid-March my buyer Valerie called me in somewhat of a panic because the new construction condo she had been in contract to purchase was a steaming pile of mess and the lender eventually pulled the plug on getting a loan for it. Turned out that the condo she had been in contract to purchase for months was part of a brand new complex and only 1 other condo out of twenty had sold since they officially went on the market 5 months prior. When there are that few sales on a new condo project, most lenders are going to deny a loan because the risk to the buyer of the whole stack of cards falling down is pretty real. If the rest of the complex winds up turning into rental apartments because the developer could not sell them as condos, it then it makes the units purchased by unfortunate buyers almost impossible to sell down the line- and that’s not a risk worth taking.

Valerie and her daughter April are first time homebuyers and with retirement on the horizon for Valerie, (distant but still definitely there) they were super motivated to find something decent in their price range in a location they liked and would be easy to maintain. They had been working with the Portland Housing Center for two years and had completed the matched savings program (IDA) so they had money in that account to pay for inspections and closing costs, and then they worked with Portland Housing Center and Home Street Bank to do what’s called a MAP 80- which is a loan where you get 20% of the purchase price from Portland Housing Center, and then 80% from Home Street using the below market rate program the Oregon Bond. The benefit to the buyer is low interest rates and no mortgage insurance.

Once Valerie explained the situation to me, I sent her all of the active listings in East Portland that fit their criteria. Included was an attached home (not a condo!) just a couple of blocks from a MAX station that was priced very well and looked great from the photos. We went to see it right away, and the minute we walked in I could feel Valerie and April just relax. The space was perfect for them, in tip top shape and had a nice sized private backyard with a reasonable amount of a well mowed lawn. By the time we left, there was no hesitation at all from Valerie and April that this was the home for them. We wrote an offer, had it accepted, sailed through inspections and closed on time. And yesterday I had the honor of giving Valerie and April the keys to their very own home, with their very own grass. In so many ways this home is better for them than the condo they had planned on buying- this home cost less, no HOA fees, and it’s own private back yard. Since the home didn’t come on the market until after Valerie and April found out that the condo was a no-go, it’s like it was just waiting for them to be ready to meet their home match.

Alyssa Isenstein Krueger

Broker

I am living the dream. Working as a real estate broker in my home town brings this native Portland gal joy beyond measure. I took the round-about-road towards this career. After graduating from Sarah Lawrence College in NY two decades ago with a degree in liberal arts/creative writing, I returned to my hometown of PDX and got a job in a legendary record store of days gone by, worked as a music and culture writer for Portland’s oldest weekly publication while pursuing a graduate degree in Urban and Regional Planning at Portland State University. Armed with my masters degree, I moved into the realm of affordable housing, community development, and urban planning, and then rounded the corner with a long stay in arts management then back around the bend when I got my real estate license and went to work for a non-profit housing builder at the cusp of the market crash in 2007. In the time between that market crash and the ensuing madness, I’ve stayed on top of the market like a dog guarding a bone. Using a magical combination of experience, instinct, and market data, I know what homes are worth, I know how to write a terrific offer, and I know how to help a seller market a home and receive and accept a great offer. Mutual trust and tender relationship building is the basis and foundation of my real estate practice. I use my skills as an active listener, creative solution finder and ace negotiator to get my clients the best price on a home, win the multiple offer roulette, and have as smooth and easy transaction as possible. Timely and responsive communication is the most important aspect of building trust and I don’t take that part lightly.  I am a stickler for details and nothing pleases me more than guiding a client through the home buying or selling process (and sometimes both at the same time). My role is one of advocate, advisor, partner, transaction organizer, and counselor. I am a partner broker with Portland Housing Center and relish the opportunity to work with eager first time home buyers. I have a knack for seeing the potential in almost any home and love to help clients see past what is and help them envision what can be. I have a decade of first-hand experience renovating and caressing my bungalow in Ladd’s Addition and had the honor of having my own home featured in a story in the Oregonian’s Homes and Gardens section. I can feel the love for any and almost all homes, but my heart goes all aflutter when entering a museum quality time capsule house -- the solid mid-century ones with the original pink or green tiled bathrooms, those charming early 1900’s farmhouses with the original kitchen cabinets and fir countertops, the cozy bungalows with the built-ins still intact. When I’m not working with clients, you’ll find me hanging with my two boys, Kalman and Saul, and my husband Robert, a Fine Art Conservator with his own business, Cascadia Art Conservation Center.  Retired racing greyhounds have been my constant companions since 1997, and our family includes Peanut the greyhound, Pinto the South Korean Italian greyhound, and our chickens, Rosie, Lola, Squishy, Duck and Prince. I am an obsessive gardener/plant fiend and love that we live in a climate where I can grow eucalyptus trees (I have 5 in my yard including a couple I started from seed) alongside blueberry bushes (6 in my yard). Given some free time, you’ll find me junking at an estate sale, dreaming of high brow junk, low brow art, making things, sewing, reading and dreaming of tropical locales.
Read More
  • T: 503-724-6933
  • PDXHappyHouse@gmail.com

You might also enjoy

Rare Opportunity! 2 Homes, 1 Lot ~ Inner SE Portland!

Martin Cross

1816 SE Taylor Street, Portland OR 97214 – Listed at $849,000   Fantastic Investment Opportunity: Could be part...

Navigating A Hot Market In Difficult Times.

Andy Meeks

Buying a home in a global pandemic amidst national social upheaval with record low levels of...

A big year!

David Columbus

Erica & Justin set out over a year ago with some big plans, get married, and...

JUST LISTED! Spacious Pre-Inspected Corner Unit!

Jason & Kristin Anderson

SPACIOUS PRE-INSPECTED CORNER UNIT!  $344,900 163 NE 79th Ave., Hillsboro OR 97006 Spacious light filled 3...