BlogBuyerThe 2020 Portland Area Surprise Market Takeaway!
The 2020 Portland Area Surprise Market Takeaway!
By Erika George & Kari McGee, November 20, 2020
Many of the surprises in 2020 have not been fun, to say the least. However, one surprise has delighted us: the success that our first-time homebuyer clients have found in spite of the strongest sellers’ market we’ve seen in our 15 years of real estate! We had multiple-offer success after success for these intrepid, can-do buyers as a result of several important factors:
The big, national cash investor companies halted operations in our area due to Covid-19 and related real estate market concerns. That meant our buyers didn’t have to compete against cash buyers with deep pockets. The absence of these cash investors finally leveled the playing field for first-time homebuyers who generally had only to compete with other financed buyers for the first time since 2013.
Historically low interest rates allowed for more buying power overall, and helped financially “young” buyers overcome hurdles to qualify for a home loan.
Our first-time homebuyers have benefited from our extensive experience in writing offers in a multiple-offer scenario. The sales price is just one of a handful of very important concessions a buyer can make when writing an offer: appraisal support, limitations on repair requests, and other secret-sauce tactics have proved to be very powerful for sellers who are comparing numerous offers.
There are many things we love about our job, but helping people purchase their first home will always be at the top of our list. It gives us so much joy to help folks put down roots, build community, and start to build financial stability for their lives. Our heartfelt congratulations go out to Neil & Caitlin, Sarah & Travis, Flo, Celise (and Kirk!), Hali & Lucas, Kath, Shannon, Jody & Kevin, and David & Mireille, all of whom purchased their first homes in crazy, stressful pandemic-ridden 2020!
Thinking about purchasing your first home? We’d be honored to help you beat the odds too!
Kari & Erika: HouseLovePDX
Share This Post
Erika & Kari
Broker-Esquire | Principal Broker | Seniors Real Estate Specialists | OR
Erika George and Kari McGee are the highly skilled HouseLove PDX team at Living Room Realty in Portland, OR.
As designated Seniors Real Estate Specialists (SRES®), Kari and Erika help Seniors and their families navigate aging in place, downsizing, multigenerational housing, senior community living options, and probate sales. These exceptional real estate agents will help you prepare for life’s transitions with compassion and expert guidance.
Principal Broker Kari McGee is an 11-year Portland Monthly 5-Star Realtor® and has helped clients successfully navigate the evolving Portland real estate market for almost two decades. Realtor® Erika George brings to the table 20 years of experience as an attorney specializing in construction and contracts and has been a full-service real estate broker since 2013.
These experienced real estate agents will help you prepare for life’s transitions with a customized plan designed for your specific goals. Erika and Kari's in-depth market knowledge and savvy data analysis will help you make educated, pro-active decisions that will reduce stress and provide better outcomes for your real estate needs. Given our foremost duty as a fiduciary, be assured that your best interests will always be at the very center of every decision we make together.
And, as the great-granddaughters (they're cousins!) of a professional baker, don’t be surprised if your real estate transaction with Erika and Kari comes complete with pie, cookies, or the best homemade toffee in the world.
We would be honored to help guide you through your changing real estate needs in Portland Oregon.
Erika George and Kari McGee
503.349.5449 | 971.322.6612