Blog First time home buyer Understanding today’s market environment.

Understanding today’s market environment.

By Evan Denhart, September 28, 2022

What is going on in today’s market?          Is now a good time to buy or sell?

Most real estate brokers are getting these types of questions on the daily these days.

As we move into Fall with mortgage rates bouncing around 6.5%, over twice what the average rate was 12 months ago, most folks think the days of over list multiple offers and 1 or 2 days before going pending are gone.

Not so fast my friend. Quality homes that are priced more on the conservative side are still seeing brisk movement and good sale prices. Case in point, a single story renovated ranch in Tigard recently went on the market on a Monday morning, had two offers over list in 24 hours and was pending by Tuesday evening.

This transaction went pending about 3 weeks ago and given all the market uncertainty currently the seller was very pleased with the result. Over list by about 10%, pending in less then 48 hours, no repairs and the appraisal came in on target.

In today’s market be sure and take a conservative approach when it comes to pricing, comps from over 8 months ago should be reviewed with a skeptical eye as they likely will give sellers a false sense of value when it comes to a reasonable list price.

The moral of the story is simple, be sure your agent is not being overly aggressive with your list price.

Evan Denhart

Broker | OR

He/Him

As a licensed real estate broker in Oregon, Evan Denhart is passionate about connecting clients with the home that fits their needs, lifestyle and personality.

As a third-generation Oregonian living in Portland and with a background in real estate, design and customer service finding the best fit, paying attention to detail and the ability to understand the client’s needs are key in reaching the successful sale or purchase of a property. In addition to his residential work, Evan has also worked with clients in the sale, management and purchase of commercial properties in Portland. Evan’s career has been built on providing excellent customer service and creating long-lasting relationships with his clients. If you’ve ever met Evan, you know that he is a people-person! Evan is also motivated by giving back and generally doing what is right for the community. He has chosen to be a part of Living Room Realty, a Certified B Corporation, because it reflects his own values of responsibility and sustainability by offering a positive vision of a better way to do business. His philosophy of excellence, enthusiasm, honesty and reliability, unites with his tireless drive to make him a dedicated real estate broker. When not working on real estate Evan enjoys playing golf, wine tasting, traveling as well as being involved at the Board level for various non-profits. He is ‘Dad’ to two young women, both in college, and like all parents enjoys supporting them and seeing them grow to chase their dreams.
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  • T: 503-901-1168
  • evan@livingroomre.com

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