By Gabrielle Enfield, July 1, 2021
Hi, Readers!
How glad are you to be on the other side of that heatwave madness? Zoinks! It seems like we may be edging toward a shift in this white-hot real estate market, too. We’re seeing more inventory come to the surface, and we’ve seen a 3% uptick in homes that have adjusted their listing prices, with more than 26% of the homes on the market decreasing their list price. This means sellers overshot their price and were counting on the inflated prices to hold steady. That also means things are shifting more in favor of buyers. Don’t get me wrong, it’s still very much a sellers market, but it’s nice to see a bit of a shift, albeit slight.
In the case of a recent closing I helped a buyer in Bridlemile on, we kept an eye on a property that at first seemed above my buyer Rebecca’s means — it was listed at her stretch price point. A week went
by, which in today’s market is eternity (most of the “good” stuff is gone the first weekend it’s on the market), and I called the agent to find out what happened. Turns out there was a big bidding war between two buyers that basically spooked each other away, and the house never went under contract. Then it sat – and the more time a home sits in today’s market sends a message to today’s buyers that something must be “wrong” with it. There is a clearly defined target for timing and pricing, that’s why listing in the right zone is critical. In the case of Rebecca, she was able to jump into action and wrap the house up under contract at a price she could afford. Now she’s putting down roots in her beautiful new mid century home.
Morale of the story? If you are on the hunt, look for the properties that have been on the market more than 10 days. Those are the properties that are likely on the verge of a price adjustment, and the more time on market, the more motivated the sellers will be. It also pays to look past funky paint and shag carpet… but we’ll save that for another story.
If you want to hear more about winning ways to make it happen in Portland real estate, give me a call. I’m here to help. 503 388 2788
Till then, high fives!
Gabrielle Enfield
Broker | OR
She/Her
Real estate can be a wild ride. It's important you find your wingperson.
At Working Magic Group, we understand the important decision of choosing an agent partner for buying or selling in Portland. It's a relationship for the long haul. The team's goal is to apply myriad experiences, both personally and professionally, to help guide client partners through a thoughtful, strategic, seamless and fun journey. Founded by top broker Gabrielle Enfield, Working Magic's goal is to bust down the stereotypes of who Realtors are and how they serve. We are full service brokers, in it for the long haul, and believe in the relationship imperative. We operate from a place of trust with people at the center. Without that, we can’t do our work. Need an understanding of where to start, when it comes to getting ready to sell? We'll put backgrounds in project management to work and let you know what needs to happen, complete with spreadsheets, if you're into it. We've got the magicians on speed dial to show up and get it done so you can hit the easy button. We treat each listing as a brand we're launching and create emotional and sensory experiences that stand out. Custom playlists, anyone? We've been told our open houses are the best in town. Looking to purchase a vacation property and need it to generate rental income? Expect sharp pencils to make sure the numbers make sense. We can even help with the interior design and advise how to set it up to make top dollar. Ready to downsize? We'll be with you on this important chapter and gently guide you to what stays and what goes. First-timer who needs a steady hand to help guide you through the real estate process? Mama Bear's got you covered, and we'll be sure to point out what you need to look for or stay away from. Moving to PDX and need a proxy to get to know Rose City? Gab's a Pac NW native, and even with all its growth and change, this place still gives her butterflies. Plus, her background in video production makes those remote FaceTime home tours a breeze. About Gabrielle Enfield, Founder, Working Magic at Living Room Realty: I grew up in Woodland, Washington, and live in the wooded hills of Bridlemile, where I'm raising my family. #boymom. Today I am the #1 agent at my brokerage - which is Portland's #1 real estate office - and consistently rank in the top 1% of more than 8,400 brokers in the Portland metro. I love what I do and it shows. Before real estate, my career spans two decades of expertise I'm fortunate enough to apply every day. These experiences range from being a TV news anchor (visual storyteller) to helping develop some of the world's beloved brands like Xbox and Dave's Killer Bread (strategy and engagement). I also helped launch Paul Allen's MoPop to a global stage; it combined two of my life loves: music + architecture. I was on the forefront of integrated media, crisis communications, digital productions and managed events and massive teams that delivered headline-making news. I was practically born to sell Real Estate: my Dad is a retired custom home designer and builder, my Uncle is an architect and my Grandpa was a Realtor and developer. I am an active listener, have a keen eye for "good bones", and solving my clients' real estate needs in a creative and often unexpected way brings me joy. In my spare time, I am raising my kiddos to be confident weirdos, championing my spouse Per who is an IP attorney at Nike, hitting the thrift store circuit as often as I can, and volunteering my time as a Broker Advisor at Living Room. In 2023 I launched Hi Buddy Hospitality Group, a burgeoning hostel and restaurant in NE Portland. I also am a member of Project Color Corps Portland Chapter, a national non-profit that collaborates with people to add color to their essential community spaces, creating beauty, belonging, and joy. Please give a call – I'd love to see what it would be like to partner with you. For a look inside my everyday life, be sure to follow along on Instagram. Let's Work Magic together. High fives!
- T: 503-388-2788
- gabrielle@livingroomre.com
