Tag: buyers agent

Navigating Home Inspections in Portland: Your Ultimate Guide

Posted on by Will Sing

Buying a home is exciting, but inspections can be nerve-wracking. To make sure your investment is sound, understanding the inspection process is essential. This guide breaks down what an inspector does, how to read inspection reports, and how to tell major issues from minor ones. Let’s explore what you need to know to approach your home inspection confidently.

Home Inspections: What to Expect

A home inspection is like a comprehensive health check-up for a property. Most inspections are performed by general inspectors who identify red flags in a home’s structure and systems. If needed, they will suggest that you consult a specialist for further evaluation, such as an electrician or plumber.

Think of your inspector as a general practitioner. They look at everything broadly and point out areas that need more attention. For example, they might notice an issue with plumbing, but only a licensed plumber can evaluate the severity and cost.

Common Types of Inspections and Costs

In the Portland area, buyers often encounter several types of inspections. Here’s what you should know:

  1. General Home Inspection
    • Cost: $400–$600 (depends on property size)
    • Details: This inspection covers the home’s major systems and overall structure.
  2. Sewer Scope
    • Cost: $140–$175
    • Details: A camera inspects the sewer line for proper connection and damage. This test helps prevent surprises with sewer repairs down the line.
  3. Radon Testing
    • Cost: Often included in general inspections or available as an add-on
    • Details: Radon is a naturally occurring gas. It can accumulate, especially in basements. Proper ventilation helps keep radon levels safe.
  4. Oil Tank Inspection
    • Cost: $125–$150
    • Details: Older homes may have underground oil tanks. These need decommissioning to prevent environmental risks.
  5. Septic Inspection
    • Cost: Varies; the seller may cover pumping costs for inspection
    • Details: If a home isn’t connected to city sewage, a septic inspection checks that the system works properly.

Common Issues Found During Inspections

Inspections often reveal issues. Understanding what’s critical versus cosmetic helps you navigate this stage smoothly. Here are common findings:

  1. Mold
    • Mold is typical in the Pacific Northwest due to the wet climate. Professional mold remediation can fix the issue, provided the moisture source is corrected.
  2. Water in the Crawl Space
    • This issue can be resolved with French drains and sump pumps. Water damage is serious, so addressing it promptly is key.
  3. Dry Rot
    • Dry rot weakens wood. Small areas can be managed with targeted repairs. However, extensive dry rot requires immediate attention.
  4. Rodent Infestations
    • Rodent problems are fixable. Sealing entry points and setting traps usually solve the issue. The cost can range from $800 to $1,000 over several months.
  5. Structural Concerns
    • Vertical foundation cracks usually mean normal settling. However, horizontal cracks or diagonal ones around windows and doors may indicate a more serious issue.

Key Systems to Evaluate

During your inspection, certain systems deserve special attention:

  • Plumbing: Inspectors will check copper, PEX, galvanized, and PVC pipes. Galvanized pipes, for example, corrode from the inside out and may need replacement.
  • Electrical: Watch for outdated wiring like knob-and-tube, which poses fire risks. Also, check the electrical panel. Older panels, such as those from Federal Pacific, can have a higher chance of failure.
  • Roof: The most common types are asphalt shingles, metal, and clay tiles. Asphalt roofs last 20–30 years, while metal can last up to 100 years.
  • HVAC System: Make sure to check the age and efficiency of the system. A new HVAC system is a plus, especially during Portland’s hotter months.

Negotiating After the Inspection

Inspections often open the door for negotiations. Major issues, like a damaged roof or significant plumbing problems, can become points for discussion. However, don’t expect sellers to cover cosmetic upgrades or major remodels. Those responsibilities typically fall to the buyer.

Final Takeaways

A home inspection report can be overwhelming, but it’s an invaluable resource for understanding your investment. Prioritize issues based on their urgency and importance. Remember, every home, whether new or old, requires maintenance. Setting aside part of your budget for repairs and upkeep can help you manage these expenses smoothly.

Have questions or need help navigating the home-buying process in Portland? Reach out anytime. I’m here to ensure everything goes as smoothly as possible.

For more insights, watch the video: Navigating Your Home Inspection: Key Areas to Focus On

Gliding Over the Finish Line Every Time

Posted on by Jessica LeDoux

In Portland, Oregon’s shifting 2025 real estate market, we are seeing many pending homes come back on the market, but this has not been the experience for our clients. Our team has guided clients to seamless closings with a 96% buyer-side closing rate on their first home in escrow. 

One segment of the market is experiencing high days on market, price adjustments and deal failures. While another segment, in many neighborhoods throughout Portland, has sparked fierce competition… How do you know which market you are looking in?

Our clients have experienced both segments and moved forward with confidence. We build trust in our knowledge by educating, and thoughtful counsel to empower clients to make confident decisions! This way creates success for all parties – making it to closing!

Portland’s 2025 Market: Challenges and Opportunities – 2025 has been the tale of two markets.

Whether our clients were looking for a fixer, something in need of cosmetic updates, or a home updated to the nine’s, our clients wrote well-informed, strong offers, with terms to favor all parties and provide a higher surety to close. This “eyes wide open” approach has served our clients well year over year, no matter what the current market conditions are. 

All markets have their challenges and opportunities, having an experienced real estate team helps you keep your finger on the pulse of the market, and avoids the common pitfalls experienced in all markets. We have over 80 years of experience on our team – We know the current market trends, and the micro trends from week-to-week and neighborhood-to-neighborhood. This knowledge base is the foundation to our success and our low sale fail rate, no matter what the market is doing, our team is tapped in and knows how to help you navigate it. 

After interviewing leading local lenders, that we have worked with for several years, the common theme they talked about was how many escrow terminations they have been experiencing in 2025. They reported clients sometimes experiencing 2-4 terminations, which not only cost buyers money, but is an emotional roller coaster that can be avoided. This has not been the experience our clients have had: YTD we have closed 26 buy-side sales with 96% of clients avoiding the emotional roller coaster of discovering the home was not what they thought it was, which increases the odds of termination. Tale of two markets – yes! This year’s accepted offers have ranged from 12.5% below to 17.5% above the current listed price, we simply know where to push and negotiate on your behalf at a high level for optimal results. Our team consistently maximizes results for clients, landing buyers in long-term homes at a great value, even when competitve—year after year.

Eyes Wide Open: Avoiding Pitfalls – Our edge? Empowering you before the offer.

We analyze market trends, property histories, and common era-specific challenges, alongside specific education pertaining to each individual home to craft informed offers. This “eyes wide open” approach minimizes inspection surprises, making the “under the microscope” phase easier for the buyer to glide through because surprises are rare – we have talked about these things over and over so they simply are less scary.

No matter how much you love the wrapping paper – we’re not afraid to counsel you out of a home based on condition, long term needs, or unchangeable elements that may limit the years your home will provide you – all before putting pen-to-paper! Any home a client considers is assessed against readiness to take on the condition, unchangeable versus changeable concessions, and longevity in the home, upfront. No matter how cute or functional the home presents to be, we’ll flag potential costs and educate on the overall condition/potential needs before you choose to move forward with an offer. If it doesn’t suit your budget, comfort, or long-term needs we counsel you, empowering you to make an informed decision, ensuring confidence along the way.

 Why Our Clients Glide to Victory – Empowering clients with information!

Our 96% close rate on the first house reflects strategic guidance. We craft winning offers, spot issues early, and negotiate repairs and timelines to keep deals on track. In a market of higher interest rates, economic uncertainty, and hesitancy, people still need and want homes – there is no “bad market” – there is only “the market,” and deciding if this market with its advantages and challenges is the right one for you is our goal! We help you decide whether to enter or wait – because you finding the right path is our #1 goal – not the sale.  This philosophy guides our buyers to secure optimal dream homes when they are prepared, with no pressure.

Ready to navigate Portland’s market? Our education-first approach ensures you glide over the finish line. Contact our team to buy with confidence!

 

September 2025 Market Stats

KEY TAKEAWAYS:

Pending sales increased 10.9% from August 2024, and grew 4.5% from July 2025. This recent uptick bucks the 2023, 2024 annual trend of slowing Pendings during this month. Rates stalling or falling recently has stimulated the buyer pool. Inventory has been higher this year, meaning more options for buyers when they do act. So buyers found themselves able to locate, offer and contract on homes. This resulted in a year over year increase of 3.3% in Closed Sales in August.

Even though New Listings were down 7.2% year over year, Average Market Time for listings has grown from 52 to 62 days on average. Longer than previous months, this is on trend for this time of year. Also on trend are the Average and Median Sales Prices – up 0.7% ($616,000) and 0.9% ($550,000) respectively. This is a pretty good measure of our demand; steady if not a bit more fragile in this 6% – 7% rate climate. When rates fall an 1/8 or a 1/4, expect that to stimulate the buyer pool almost immediately.

Of note, decades of historical data show us that the average mortgage rate has been 6.48%. No predictions expect 3% rates to return anytime soon. The recent rate cut may stimulate a segment of the market, but historically people continue to wait in hopes of even better rates. With rates hitting a 3 year low this month, the people ready to capitalize now will be ahead of the curve. Recent rate changes point to a market that will react, but acting before the herd will put in a better position overall, even if the rates drop another quarter point.

 

Elevating the Value Conversation in Buyer Representation with Jessica LeDoux | Open House

Posted on by Jenelle Etzel

Welcome to Open House: Everyday Excellence, the real estate podcast where we bring you real conversations with agents who work with thought, skill, and heart.

Every episode looks at the moments that define us as professionals. We talk about the shifts, the challenges, and the lessons that shape how we serve our clients and how we support one another.

🎧 Episode 3: Elevating the Value Conversation in Buyer Representation with Jessica LeDoux

The real estate industry is in the middle of one of its biggest changes in decades. The NAR settlement is reshaping buyer representation. Agents are now asked to lead clear and sometimes difficult conversations about value, compensation, and trust.

In this episode, Jessica LeDoux shares how she approaches those conversations with clarity and confidence. For her, this shift is not about defending a commission. It is about raising the standard of the profession and helping both clients and colleagues grow.

Jessica explains:

  • What the NAR settlement means for buyer agents and the opportunities it brings

  • How to frame your value early so fee conversations feel natural

  • Why agents may be struggling more than their clients

  • How experience, both personal and brokerage-wide, builds confidence and trust

  • Why clarity always works better than fear

Who This Episode Is For

This conversation is for agents learning to navigate the new world of buyer representation. If you have ever felt unsure about how to explain your fee, wanted to show your worth without sounding like a résumé, or hoped to shift tense conversations into collaborative ones, this episode is for you.

You will leave with language you can use right away. You will also gain a mindset shift: when you own your value, you create more trust, wisdom, and leadership.

Why It Matters

The NAR settlement is forcing all of us to rethink how we talk about our work. For some, it creates fear. For others, it brings frustration.

Jessica reminds us that this is not a time to shrink back. It is a chance to step forward. Clear and confident conversations raise the bar for everyone. They create better-informed clients, more collaborative colleagues, and a stronger profession.

As Jessica says, “Don’t let this moment make us reactive. Let it make us wise.”

Listen Now

Episode 3 is live. You can find it on Spotify, Apple Podcasts, or wherever you listen. Search for Open House: Everyday Excellence and listen to “Elevating the Value Conversation in Buyer Representation with Jessica LeDoux.”

Dollars & Sense: Home Buyer Class – Info & Client Testimonial

Posted on by Nicole Chavira

Dollars & Sense: Home Buyer Class

Info & Client Testimonial

July 16th

6pm – 730pm

TWO ATTENDANCE OPTIONS ⭐️

1 – In Person!
Living Room Realty
421 SE 10th Ave
PDX 97214
2 – Zoom Meeting!
Learn how to make smart financial decisions when preparing to purchasing your first home.
• Gain insights and knowledge on how to obtain a mortgage pre-approval
• Lending options that fit your needs
• Ways we win for our buyers in the current market and more.
• Discuss market changes and what this means for you.
• Address some misunderstandings around media headlines.
• Offering 1k closing credit *subject to approval with Cat Jerger at Guild Mortgage
Hosted by:
Lender Caitlin “Cat” Jerger 503.910.6362
Cat.Jerger@guildmortgage.net @cat.jerger.mortgage
&
Realtor Nicole Chavira 503.412.9759
Nicole@LivingRoomRE.com
There is onsite parking available and overflow street parking. Children are welcome.
Light refreshments will be provided.
Missed the class? No problem! Reach out for a one on one consult over zoom!

Is the Portland Housing Market Cooling?

Posted on by Jessica LeDoux

Is the Portland real estate market showing signs of cooling after a hot streak?  

Portland’s real estate headlines often focus on the broader Portland Metro area, which provides a useful overview, but the city’s housing market is a patchwork of micro-markets, each with its own distinct trends. Partnering with an agent who understands the nuances of these localized markets is always valuable, but it’s critical in today’s climate. Neighborhoods are behaving differently and different price points are showing even more dramatic market variations.

After a period of tight supply, inventory is finally ticking up, particularly for larger inner-city homes. These properties slowed significantly when interest rates climbed, as sellers with low-rate mortgages opted to stay put, waiting out the market. However, after two years of hoping for a significant rate drop that hasn’t materialized, many of these sellers are now ready to list. This shift highlights how specific property types can perform distinctly from the broader market.

To explore how the homes you’re interested in are faring in today’s market, reach out to us. We’d be happy to dive into your specific needs and provide tailored insights.

Just Sold: Brentwood-Darlington Cutie

Posted on by Antoinette Berg

7511 SE Crystal Springs Blvd.

Portland, OR 97206

This light-filled, cozy home lives like a single level but with bonus space in the finished attic. Tucked off the street and on a large lot, there is ample space and privacy. The living room sliding-glass door leads out onto the deck of the fully-fenced backyard. The kitchen has been thoughtfully updated with quarts countertops and new flooring runs throughout the home. Located near parks, shopping, and dining, and easy access to I-205.

3 BEDROOM | 1 BATHS |1,226 SQFT

Sold  6/12/2025| $425,000

Just Sold: Roseway Bungalow

Posted on by Antoinette Berg

3316 NE 66th Ave

Portland, OR 97213

The dreamiest 1920’s bungalow in Roseway. Out front is a beautifully-landscaped yard, covered front porch and wood door. The inside maintains 20’s charm but updated for modern living. The main level has hardwood floors, expansive windows, and a spacious, updated kitchen that leads right out to the backyard garden space. A true NE gem!

3 BEDROOM | 3 BATHS |2,287 SQFT

Sold  5/16/2025| $658,000

Just Sold: Villebois Townhome

Posted on by Antoinette Berg

28554 SW Dundee Ln

Wilsonville, OR 97070

Charming townhome in Villebois featuring a front courtyard perfect for a firepit and outdoor seating. The first floor flex space has custom built-ins and a half bathroom. The main level has a balcony, cozy fireplace, and a spacious kitchen with stainless steel appliances, tile countertops, and an island with granite counters. Large windows let in plenty of natural light. Short walk to many community amenities including pools, parks, and pickleball & tennis courts.

2 BEDROOM | 2.5 BATHS |1,319 SQFT

Sold  5/8/2025| $413,000

Your Cozy Corner of Portland: How to Buy Without Losing Your Chill

Posted on by LeAnn Raschke

Oh Hello! — Thinking about buying your first home in the Portland Metro? I’m so glad you’re here! 

I know this process can feel overwhelming (hello, endless housing market updates and what even is escrow?!), but it really doesn’t have to be. As a Portland real estate pro (6 years, hard time), I’m here to help you navigate it all—without losing your mind or your chill.

So, What’s the Deal with Portland Right Now?

The Portland housing market is doing its thing—it’s Spring and it can be competitive, a bit spendy, but not totally out of reach. Median prices for Single Family Homes are hovering around $535K, and new listings are selling anywhere from 5 – 25+ days. Not as wild as it was a few years ago, but you’ll still want to be ready to move when the right place pops up.

Let’s Talk Money (In a Chill Way)

Here’s the stuff you’ll want to square away:

  • Down Payment: You don’t need to drop 20% unless you want to. There are loans that let you put down as little as 3% (or even 0% if you qualify for certain programs).
  • Credit Score: Give it a quick check-up. The better your score, the better your loan terms. But don’t stress—there are paths forward even if it’s not perfect.
  • Monthly Budget: Mortgage, taxes, insurance, repairs… we’ll make sure you know the full picture before you make any big decisions.

Free Money Is a Thing (Yes, Really)

Portland has some solid programs to help first-time buyers. One to check out: the Down Payment Assistance Loan (DPAL). It’s basically a second mortgage with terms that can help you buy within city limits. There are also homebuyer education classes that can make the whole process feel a lot less overwhelming.

Pro tip: These programs sometimes have income caps or waitlists, so the sooner you look into them, the better.

When Should You Start Looking?

Spoiler: right now isn’t a bad time. Spring is when the market starts heating up with new listings, and the earlier you’re pre-approved and prepped, the better positioned you’ll be when your dream home shows up.

We’ll make a plan based on your timeline, your must-haves, and your budget—no pressure, just smart strategy.

You Don’t Have to Do This Alone

That’s where I come in. Whether you’re just starting to explore or you’re ready to book showings, I’m here to guide you through the entire process—from getting pre-approved to getting those keys in hand.

I’ll help you:

  • Understand what you can afford
  • Connect with trusted lenders
  • Find the neighborhoods that match your vibe
  • Write strong offers that stand out
  • Navigate inspections, negotiations, and all that behind-the-scenes stuff

Let’s Find Your Cozy Corner

Buying your first home is a big deal—but it doesn’t have to be a meltdown moment. With the right plan, a little guidance (hi, that’s me), and maybe a coffee or two to fuel your house-hunting weekends, you’ll find your cozy corner of Portland and a home that fits your lifestyle and your budget.

If you’re thinking about making a move this year, let’s talk. I’m here to answer questions, brainstorm next steps, or just be your calm in the real estate storm.

No panic. No pressure. Just progress.

📩 Send me a message when you’re ready—I’ve got you.

Building Community, Not Just a Client List: How I Approach Real Estate Differently

Posted on by Jenson Sarr

How it started

When I first started my real estate journey here in Portland, I knew I wanted to do things differently. The idea of cold calls and hard sales never sat right with me—what excites me most is connection. I didn’t just want to help people buy and sell homes; I wanted to create a space where folks feel seen, heard, and supported in one of the biggest decisions of their lives. And for me, that meant focusing on relationships over transactions.

Gathering, Not Selling

Instead of chasing leads, I put my energy into bringing people together. Whether it’s a casual coffee meetup, a homebuying Q&A, or a backyard BBQ, I’ve found that meaningful connections grow when there’s no pressure—just good conversation and a shared love for community. Real estate can be overwhelming, especially for first-time buyers or those who’ve had less-than-great experiences in the past. My goal is to make the process feel approachable, empowering, and (dare I say) even fun.

Why Referrals Mean Everything

One of the most rewarding parts of this journey has been seeing my business grow through word-of-mouth. When past clients, friends, and neighbors recommend me to their people, it’s the ultimate compliment. It tells me I’m doing something right—not just in helping people buy and sell homes, but in making them feel comfortable, informed, and supported along the way. Portland’s real estate market can be intense, but having a trusted guide who genuinely cares makes all the difference.

A Queer-Centered, Inclusive Approach

As a queer real estate agent, I know firsthand how important it is to work with someone who understands your lived experience. Whether it’s navigating financial institutions, dealing with outdated assumptions about what a “typical” homebuyer looks like, or simply wanting a safe, welcoming space to ask questions, I strive to be that person. Everyone deserves to feel confident and respected in their home-buying journey.

Let’s Connect!

If you’re thinking about buying or selling (or just want to nerd out about cool old houses over coffee), I’d love to connect. No pressure, no sales pitch—just a conversation about what home means to you. And if you know someone looking for a home in Portland who would vibe with my approach, send them my way. My business grows through community, and I’m so grateful for every introduction that allows me to help more amazing folks find their place in this city.

Looking forward to meeting you—at an event, over a drink, or just out in the world. Let’s build something together. 🏡✨

   

Photos from our Valentines day event.

Single-Family Residential Plats vs. Detached Condominiums

Posted on by Jessica LeDoux

For buyers open to both detached condos and single-family residential homes, here is the nitty-gritty on the differences to weigh.

DETACHED CONDOMINIUM

  • Definition: Individual housing units recorded as condominiums but resembling single-family detached homes in appearance.
  • Characteristics:
    • Ownership includes the structure (home) but not the underlying land (the land is often shared in common).
    • Governed by a Condominium Plat:
      • Specifies individual units and shared areas (e.g., streets, landscaping, amenities).
      • Common areas are maintained by a Homeowners’ Association (HOA).
    • Subject to stricter rules and maintenance agreements compared to platted lots.
  • Examples:
    • Detached homes within a planned community, with shared green spaces and common amenities.
    • Homes that look like single-family residences but are part of a condominium development.

Key Differences Between Single-Family Residential Plats and Detached Condominiums

Feature Single-Family Residential Plat Detached Condominium
Ownership Includes both the land and the house Includes only the house; land is shared in common
Legal Plat Type Platted lot with unique boundaries and legal description Condominium Plat with defined units and shared areas
Control Over Property Owners can modify both the house and land (within zoning) Limited by HOA or condominium rules
Common Areas Typically none, unless in HOA subdivision Often includes roads, green spaces, and amenities
Maintenance Responsibility Owner maintains their lot and home HOA maintains shared areas; may include some exterior upkeep of units
Flexibility Greater freedom for modifications and landscaping Restrictions on changes due to shared ownership and HOA rules
Examples A house with a fenced yard in a subdivision A house in a condominium-style community with shared landscaping and sometimes a private yard which is designated as a limited common space.

Other Relevant Platting and Legal Designations

  • Zero Lot Line: Some single-family homes are built close to or on the property boundary to maximize space, but they remain platted lots where the owner controls the land.
  • Cluster Housing: Could include either platted lots or detached condos, but the homes are grouped closely to preserve open spaces.
  • Subdivision: Can include either platted single-family lots or condominiums, depending on the development plan and legal designation.

First Time Home Buyer Class – Virtual & In Person

Posted on by Jessica Ward

Are you ready to take the leap into homeownership but unsure where to start? If you’re a first-time home buyer, navigating the process can feel overwhelming. That’s why we’re hosting a free First-Time Home Buyer Education Class in Vancouver, WA, designed to empower you with the knowledge and tools you need to confidently purchase your first home.

Virtual First-Time Homebuyer Class

When: Thursday, February 6, 2025
Time: 6:00 PM – 7:00 PM
Where: Online – Join from the comfort of your home!
Register Here: Register in advance for this meeting
What to Expect:

  • Rent vs. Own – Discover why owning a home could be a better option for you.
  • Tools for Success – Learn strategies to prepare for homeownership and make confident decisions.

After registering, you will receive a confirmation email containing information about joining the meeting.

In-Person First-Time Homebuyer Class

When: Saturday, March 8, 2025
Time: 12:00 PM – 1:30 PM
Where: 107 W 7th St, Vancouver, WA 98660
What to Expect:

  • Lunch & Learn – Enjoy a complimentary lunch while gaining valuable insights.
  • Rent vs. Own – Understand the financial and personal benefits of owning a home versus renting.
  • Tools for Success – Learn actionable steps to achieve your goal of becoming a homeowner.

Location:

Conveniently located in downtown Vancouver, our office is easily accessible and close to parking, dining, and public transit.

Who Should Attend?

  • Renters who are ready to explore homeownership
  • First-time buyers looking for guidance and expert advice
  • Anyone who wants to learn how to navigate the home-buying process with confidence

Why Attend a First-Time Homebuyer Class?

Approach the process with confidence. During this class, you’ll learn:

  • The benefits of homeownership
  • How to set realistic goals for buying a home
  • Tips to save for a down payment and qualify for a mortgage
  • The steps of the home-buying process from start to finis

What Past Attendees Are Saying:

“I wasn’t ready to buy a house during this time of year but after attending Jessica’s first home buyers class. She made me feel ready and so confident to get out there and start this journey and I DID!! and I don’t regret one single thing!! ”
– JennyL K.

 “I took Jessica’s first time home buyers class and it was super informative! She’s very knowledgeable and very passionate about what she does. She answered all my many questions and concerns with the market currently. Thankful to have taken it it. She gave me more confidence in the home buyers process.”
– Nancy T.

Meet Your Host

I’m Jessica Ward a licensed realtor in both Oregon and Washington with Living Room Realty and I specialize in guiding first-time buyers through every step of the process. My goal is to make home buying less stressful and more empowering by providing clear, honest advice tailored to your unique needs.

https://www.livingroomre.com/agents/jessicaward/

Reserve Your Spot Today!

Space is limited, RSVP today:

  • Call or Text: 971-230-8164
  • Virtual Class: February 6, 2025 – Register Here
  • In-Person Class: March 8, 2025

Take the First Step Toward Homeownership

Buying your first home doesn’t have to be intimidating. With the right knowledge and support, you can make informed decisions that set you up for success. Join us at our First-Time Home Buyer Education Class and take the first step toward achieving your homeownership dreams.

We look forward to seeing you there!

Never to late to Congratulate!

Posted on by Nicole Chavira
Never too late to Congratulate M, M & T!
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Another success story of an FHA zero down with DPA (Down Payment Assistance).
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When they found this home that was highly desired. We were up against 5 other offers!
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Our offer was accepted WITH seller 10k credit to the buyers for their closing costs and a seller paid one year home warranty included.
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It takes a team to make the dream!
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Special thank you to their Brian Tovey, their escrow officer Kelsey Schaber, my co-op agent Lauren Goché and my gift basket maker Bri Arias!
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How Accessory Dwelling Units (ADUs) Impact Home Values in Portland, Oregon

Posted on by Sofia Gallamore

What is an ADU?

You probably have heard the word “ADU” thrown around but not entirely sure what the heck it is. Let’s start by clarifying what this arbitrary acronym is first.

An Accessory Dwelling Unit, or ADU, is a secondary housing unit located on the same property as a primary residence. These units can take various forms—a converted basement, a detached structure in the backyard, or even an above-garage apartment. To qualify as a true ADU, the unit must meet specific criteria: it should have its own separate entrance, kitchen, and bathroom, making it a fully functional living space.

However, not every additional living space qualifies as an ADU. For example, a finished basement with a couch and a TV isn’t enough to meet the definition unless it also includes a kitchen and bathroom. Similarly, unpermitted structures or makeshift conversions, such as a garage half bath and a portable heater, do not meet the requirements and can actually harm a property’s value.

 

The Growing Popularity of ADUs

In recent years, ADUs have gained significant traction in the housing market. Portland is no exception to this! I truly believe that ADUs are a key representation of Portlanders and our ability to get creative, problem-solve, and combat challenges in our community. This lady in the Boise-Eliot neighborhood even converted a Tuff Shed into an ADU (when I saw the headline I was very skeptical, but it’s actually pretty rad). This rise in popularity can largely be attributed to affordability challenges in the housing market. As home prices continue to climb, buyers and homeowners alike are seeking creative solutions to offset their mortgage costs. ADUs provide a fantastic opportunity to do just that by renting out the secondary unit, either to long-term tenants or as a short-term rental.

For buyers, the idea of purchasing a property with an existing ADU or ADU potential is incredibly appealing. Not only can it generate extra income, but it also offers flexibility for multi-generational living or even a private workspace. I’ve personally worked with many buyers who prioritize finding properties with ADUs or room to add one, and I’ve seen firsthand how competitive these properties can be. In many cases, homes with ADUs come on the market and disappear just as quickly due to high demand (and often sell for a premium.)

The growing demand for ADUs has also created a niche market for contractors who specialize in ADU plans and construction. Many credible contractors in the Portland and Vancouver areas now offer streamlined processes to help homeowners bring their ADU vision to life. From pre-designed plans to full customization, these professionals simplify the process, making it more accessible for homeowners. This specialized market ensures that homeowners can navigate zoning regulations, permitting, and design with greater ease, ultimately resulting in higher-quality ADUs that add substantial value to their properties.

 

The Pitfalls of Poorly Executed ADUs

While ADUs can significantly enhance a property’s value, this only holds true when they are executed correctly. Poorly constructed or unpermitted ADUs often create more problems than benefits. Adding a heater and sheetrock to a garage may look like a cheap way to create additional living space, but without following the necessary steps this setup becomes a liability rather than an asset.

Portland, like most cities, requires permitting for ADUs. This process ensures that the unit meets safety and building codes, as well as zoning regulations. Permits are mandatory not only for the construction of an ADU but also for many home renovations, additions, or structural changes. If you’re curious, here is Portland’s full explanation of their requirements in regards to permitting and ADU’s. Skipping the permitting process can lead to fines, legal issues, and expensive retrofitting down the road. Furthermore, significant unpermitted work for an ADU may impact the marketability of your home in the future when you go to sell. Homeowners who try to cut corners often find that their efforts backfire, as this work diminishes the property’s value and deters future buyers.

Nonconforming ADUs can deter potential buyers who recognize the time and cost involved in bringing the space up to code. Most buyers would rather avoid the headache of removing and redoing work to meet legal and safety standards. As a result, these subpar ADUs can actually harm the marketability of a property, making it less appealing to prospective buyers.

At the end of the day, when ADUs are thoughtfully designed and fully permitted, they can be a major selling point. Buyers appreciate knowing that an ADU was built to code and with long-term functionality in mind. Properly executed ADUs not only increase the property’s value but also provide peace of mind to both the current homeowner and future buyers.

 

Why Does This Excite Me?

Helping my clients explore creative ways to offset their housing costs is one of the most rewarding aspects of my job. ADUs are a fantastic opportunity for homeowners interested in becoming landlords and dipping their toes into real estate investing. I’ve seen how a well-designed and permitted ADU can transform a property, providing not only financial relief but also a sense of empowerment for homeowners.

I’m passionate about ADU’s because they align with my belief in making real estate work smarter, not harder. Exploring the possibilities these spaces can open doors to increased financial freedom, creative property use, and even stronger connections with the community through thoughtful rentals.

 

So What Do You Think?

If you have any questions about this topic or the nuances of Portland’s housing market in general, I’m your gal (and always down to talk real estate).

Your friend & realtor, 

Sofi

New Construction vs. Older Homes: Finding Your Match

Posted on by Sofia Gallamore

If you came here for an easy answer, I’m sorry to disappoint you right off the bat. However, there really is no “right” choice between a new construction home and an older one. The best option depends on your lifestyle, needs, and current situation. For our purposes today, we’ll define “older” homes as those built before 1980. This was around the time when homebuilding practices changed with regulations on materials like lead-based paint and asbestos. Now, let’s dive into the pros and cons of each!

 

Advantages of New Construction

  1. Turnkey
    With new construction, you don’t have to worry about replacing stained carpet or refinishing the wood floors before moving in. If you’re not one for taking on home projects, the luxury of not having to do any renovations upon move-in is huge!

  2. Energy Efficiency & Up-to-Date Codes
    Builders design new homes with energy efficiency in mind, often equipping them with the latest tech, like high-efficiency windows and insulation. They also follow current building codes, reducing the need for short-term upgrades and helping to keep energy bills lower over time.

  3. Builder Incentives
    New construction homes sometimes come with financial incentives. Since builders have sales quotas, they often offer things like rate buydowns or closing cost assistance in order to meet them. This can provide you with some welcome savings, especially if you’re buying when rates are high.

  4. Customization Options
    While they’re often built on spec, new homes sometimes allow for some customizations, like choosing finishes or exterior upgrades. Want a chef’s kitchen or that perfect bathroom tile? You might get to make those choices if you buy at the right stage.

  5. New Home Warranties
    With a new build, you typically get a warranty from the builder, giving you coverage for certain defects or repairs during the initial years. This can give you peace of mind, especially with larger systems like plumbing or electrical.

 

Disadvantages of New Construction

  1. Not All Builders Are Equal
    Quality can vary significantly depending on the builder. It’s essential to research the builder’s reputation, ask for reviews from previous buyers, and consult with your agent. Many people assume a new construction home won’t need a home inspection, but that’s a myth. According to a 2022 study by the National Association of Realtors, nearly 1 in 4 home inspections on new construction revealed major issues, most often related to HVAC systems or safety. With tight deadlines and fully booked contractors, some details can slip through the cracks.

  2. Potentially Higher Price Tag
    New construction can be priced higher than resale homes. However, this isn’t always the case, as some builders adjust their pricing depending on market conditions. With rising interest rates, some builders are pricing competitively to attract buyers.

  3. Less Character and Charm
    Builders often design new homes to appeal to a broad range of buyers, which can mean they lack the unique features of older homes, like intricate woodwork or custom-built shelving. If you’re someone who loves character, this is really something to keep in mind (and something you may already understand about yourself already!)

  4. Flexible Timeline Needed
    If you’re buying a new build that’s still under construction, you’ll need to be flexible with your moving date, as construction delays can happen. This is especially something to keep in mind if you’re navigating this purchase while also selling your current home.

 

Advantages of Older Homes

  1. Established Neighborhoods with Character
    Older homes are often found in neighborhoods with a more mature, established feel. You might find tree-lined streets, unique architecture, and a tight-knit community vibe that new developments may not offer.

  2. Great for DIY Projects
    Many older homes have the potential for DIY renovations, letting you add your own flair. If you’re handy or enjoy home improvement (or are looking to grow your skills), an older property may be a perfect fit.

  3. Room for Negotiation
    Older homes typically offer more room for negotiation, since the majority of the time you’re working with a private seller and not a company. If the home needs repairs or updates, sellers are often willing to work with you on price or closing costs.

  4. Unique Architecture and Materials
    There’s a reason people say, “They don’t build them like they used to.” Older homes often used old-growth wood, which is lumber from trees that grew for longer, making it denser (more rings!!). This old-growth wood is more resistant to warping, rot, mold, and even has insect-repelling properties. If you’ve toured an older home with me, you’ve more than likely already heard me nerd out about this, lol!

  5. Larger Lots
    Many older homes are built on larger lots, a big bonus for those with pets, or if you just prefer a spacious yard, garden, or outdoor entertainment area.

 

Disadvantages of Older Homes

  1. More Maintenance and Repairs
    It’s no secret that older homes often need more upkeep. You might be looking at replacing or repairing larger systems like roofing, plumbing, or electrical. These homes have had years of use, so more significant wear and tear is expected.

  2. Unknowns in Property History
    While a thorough inspection can identify most issues, some problems—like past neglect—may only be uncovered over time. This adds a layer of uncertainty, especially if the home has been through multiple owners.

  3. Outdated Codes and Systems
    Many older homes weren’t built with today’s building codes in mind. Common issues include outdated wiring or galvanized steel plumbing. In addition, we often see repairs done over the years that were done incorrectly (someone decided they could watch one youtube video and be an electrician). These issues can require costly corrections or upgrades, which can add to your overall investment.

  4. Possibly Unfavorable Floor Plans
    Older homes sometimes have floor plans that feel a bit cramped or don’t suit a modern lifestyle. Tiny kitchens, small bathrooms, or a lack of open-concept spaces can be a challenge. While remodeling can address this, it’s something to consider if you’re looking for a home that’s already optimized for today’s living standards.

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Choosing between a new construction home and an older one ultimately depends on your lifestyle, preferences, and budget. Both options have their unique appeal and drawbacks, but whichever path you choose, it should suit you and your family’s needs.

If you’re curious about which may work best for you, I’d love to sit down and chat about my experiences with both. Buying a home is a big decision, and there’s a lot to consider, so feel free to reach out with any questions or for a personalized consultation.

Let’s find the home for you!

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Check out my full website here!

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Irvington Four Square: SOLD!!!

Posted on by Veronica Powell

We gave this beauty a little love before coming on the market (i.e. interior paint, gorgeous floor refinishing, updated lighting, etc.) and our efforts paid off with 6 very strong offers all over asking price!  If you’d like to see similar results on the sale of your home, reach out and me and my team of professionals can get to work!

If you’re looking for a house like this, I can help with that too.   Four Square’s are a very desirable architectural style that boast high ceilings and a true second floor (no awkward finished attic spaces!).  These don’t come on the market often, in this price point, and when they do (if marketed properly) are usually in high demand.  I can help you navigate competing offers and get you into your next home sweet home.

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Veronica Powell

503.936.3575

Veronica@LivingRoomRE.com

 

The Value Of An Agent – Guiding Clients

Posted on by Jessica LeDoux



The Value of Local Expertise

Expert real estate guidance is essential when you’re learning a new city. You may get to know the city and even understand it well, but it takes time to gain the deep-seated context that a lifetime resident has. The perspective and understanding of a long-time local often come from a broader and deeper well of experience. The same applies to real estate. While we work with people who have varying levels of real estate knowledge, even the most informed clients will encounter unknowns—questions you may not even think to ask unless you’re immersed in the daily flow of research and conversation that comes from being in this business for a long time. In short, there are always things you don’t know that you don’t know.

We want to lead the charge and help you ask the right questions. We want to elevate your questions, dig deeper so you are empowered to make the best decision for you and from a foundation of considering all angles and arriving at a place of clarity and understanding.

Creating a Lasting Connection with Your Home

This is more than a transaction, more than a piece of property, more than an investment. In many cases, this is where you are going to live and create memories. It’s the roof over your head. It’s security. We want to help you protect your investment, but also appreciate how momentous a decision this is and how impacting the right home can be through all the different phases of life. Needs change, but we can help you think through possible trajectories so you can optimize your relationship to your home in the long run.

Celebrating Your Real Estate Journey

Perhaps most importantly, this is FUN. You are approaching a change, a transition, crossing a milestone. We see how huge this is and know it is cause for celebration along the way.

Meowdy! Congratulations to Woodstock Portland’s newest neighbors!

Posted on by Nicole Chavira

Story time about this dynamic duo Jason and Tamara! They began their home search with me in early 2021. They pulled out on a potential purchase that just wasn’t quite right for them that year. They took a break from the home search (this happens on occasion and for good reason). We stayed in touch over the next few years and I was thrilled when they came back around the end of 2023 to update their home search and peek at what the current market had to offer!

We got an offer accepted on a condo that turned out to need more repairs than the HOA had budgeted for, so they terminated. Thank goodness for the many contingencies during the home purchasing process that protected my clients to uncover all they needed to make the educated decision to move on from that one. Although it was a huge disappointment for them, they did not get discouraged or give up on their dreams of home ownership. They jumped right back on the saddle and asked to tour new homes! I was so proud of their trust in my guidance and faith in themselves to get to the finish line.

They found a gorgeous new construction home that offered what is called an SDC exemption (System Development Charge). This is a program that assists developers by reducing their development costs when building affordable residential housing. T & J diligently worked on getting that application in after our offer was accepted, and they were approved for $30k off the sales price AND over $9k in closing costs covered by the seller!

They are now MOTHER F*CKING HOME OWNERS!

Special shoutout to our trusted lender Cat Jerger with Guild Mortgage for her excellent service!

Way to go my friends! It’s been a true pleasure. Wishing you many beloved memories of game nights, play time with your fur baby Ophy and new neighborly friendships in your new home.

Shakira’s new digs in NE Portland!

Posted on by Nicole Chavira

Our journey began when we first met at one of my open houses where I got the pleasure of meeting Natalie and her pup Shakira! We hit it off and I knew I wanted to become her trusted real estate professional and answer more of her home buying questions.

We kept in touch and she introduced me to her husband Steve when they attended one of my “First Time Home Buyer” classes, co-hosted with Cat Jerger at Guild Mortgage. We gave them education and confidence to take the next steps and applied for a mortgage loan.

Soon after they were pre-approved, we had our one-on-one buyer consult over zoom, set them up on a personalized home search and hit the pavement on a very enjoyable home search!

We even had some time to bring in a few of my trusted contractors to give them remodeling tips and bids to assist them in their decision making.

They found an amazing home to put an offer in on and we got it for $10k under the listing price AND got the seller to agree to pay the full $24k HOA special assessment that was due! The cherry on top is when their appraisal came back above their purchase price!

When I tell you that I continuously hit the jackpot when it comes to having the best clients that turn into friends, they are a prime example!

I have even had the joy of receiving remodeling updates from them since their closing day. I can’t wait for the invite when they are ready to showcase their hard work.

Steve and Natalie, I know you will turn the house into a home with the love you have for one another, the love you are putting into your new pad and the love you give to others.

Thank you for trusting me on your successful path to homeownership!

Also a special shout out to Jessie Hammons at WFG National Title for all her hard work!

Portland’s Real Estate Tapestry: Quirky, Green, and Welcoming

Posted on by Jessica LeDoux

Welcome to Portland, where the real estate market is as eclectic as the city itself. In 2024, navigating Portland’s housing scene feels like embarking on a treasure hunt through a maze of coffee shops, food trucks, and indie bookstores. Buckle up – we’re diving deep into the weird and wonderful world of Portland real estate!

Neighborhood Chronicles: Where the Streets Have a Story to Tell

Let’s start our journey in Southeast Portland, where each neighborhood has its own distinct personality. From the bohemian charm of Belmont to the artisanal vibes of Division, every street corner whispers tales of local lore and community spirit. Imagine strolling down Hawthorne Boulevard, where vintage shops rub elbows with craft breweries, and front porches are adorned with succulent gardens that rival the botanical gardens downtown.

Hipster Havens and Hidden Gems

Portland’s real estate scene isn’t just about homes; it’s about lifestyle choices. Want to live in a converted warehouse-turned-loft in the Pearl District? Or perhaps you’re drawn to the tiny house movement flourishing in Kenton? Every corner of Portland offers something unique, whether you’re craving a cozy bungalow in Laurelhurst or a sleek condo overlooking the Willamette River.

The Art of the Deal: Portland Style

In Portland, navigating real estate deals can feel like balancing on a unicycle at a street fair. Bidding wars are still a reality, especially for those charming, well-marketed homes that everyone loves. While some properties linger on the market, politely waiting for a price drop might mean missing out. The key? Partner with a savvy agent who can spot the hidden gems and negotiate before a new price tag sparks a frenzy. It’s not just about making an offer; it’s about crafting a strategy, staying ahead of the curve, and sometimes, acting faster than you can say “locally roasted coffee.”

Sustainability Meets Style

Speaking of sustainability, Portlanders take green living seriously. Homes with solar panels, rainwater collection systems, and edible gardens aren’t just trendy; they’re a testament to Portland’s commitment to eco-friendly living. Want to reduce your carbon footprint? There’s a passive house for that. Prefer to grow your own kale? Welcome to the urban farm movement.

The Portland Promise: Where Community Comes Home

Beyond the quirky cafes and food carts, Portland’s real estate market is a reflection of its vibrant community spirit. Neighborhood associations thrive, fostering a sense of belonging that goes beyond property lines. Whether you’re attending a block party in Sellwood or joining a community garden in Woodstock, buying a home in Portland isn’t just about four walls; it’s about becoming part of a larger narrative.

Finding Your Place in Portland’s Patchwork

As we wrap up our tour of Portland’s real estate scene in 2024, one thing is clear: this city isn’t just a place to live; it’s a place to belong. Whether you’re drawn to its quirky charm, its commitment to sustainability, or its thriving community spirit, Portland offers a home for every dreamer and doer. So, grab your bike, sip on some locally brewed kombucha, and let’s explore what makes Portland the city where weird meets wonderful – and where every house tells a story.

When Should You Bounce on a Pending Home Purchase?

Posted on by Lydia Hallay

Buying a home is one of the most significant decisions you’ll ever make, and the stakes are high. In today’s market, competition for desirable homes can be intense- and once your offer is accepted, it’s easy to become emotionally attached to the idea of a new life in your new home. However, sometimes, despite the excitement and effort put into a winning offer, walking away from a pending purchase is the best decision. Here are key scenarios where it might make sense to reconsider your decision.

1. Unresolvable Issues in the Home Inspection

A thorough home inspection is a critical step in the home buying process. If your inspection uncovers significant issues such as structural damage, outdated electrical systems, plumbing problems, or mold infestation, these can lead to substantial repair costs and potential safety concerns. While most issues can be resolved (either through seller repairs or concessions from the seller that make repairs possible after closing), major problems may not be worth the risk or expense. Key questions to consider are, “is the seller willing to negotiate?” and “are these issues ones I can address over time?” Your realtor will be your best guide on sussing out what’s possible- and, making sure that you are able to protect your earnest money if you decide to walk.

2. Appraisal Comes in Lower Than the Purchase Price

In Portland’s competitive market, bidding wars can drive prices up. However, if the home appraises for less than the agreed-upon purchase price, your lender may not approve the full loan amount. This means you’ll need to come up with the difference out-of-pocket, which may not be feasible. If the seller is unwilling to lower the price- or, you’re unable to bring extra cash to the table to bridge the gap- it might be wise to walk away. If you suspect a home you’re writing an offer on won’t appraise at value, work with your realtor on crafting an offer that offers protection against appraisal gaps. While most homes out there appraise “at value,” a low appraisal doesn’t always mean you need to walk. Your realtor can often gather additional information to help you appeal an appraisal and hold things together.

3. Title Issues

A clear title is essential for a smooth home purchase. If the title search reveals unresolved liens, disputes, or legal issues, these could become your responsibility after the purchase. Title insurance can provide some protection, but unresolved title issues can be a deal-breaker. Your realtor can help you determine whether a title issue is resolvable, or whether it makes more sense to bounce.

4. Financing Falls Through

Even with pre-approval, changes in your financial situation or the lender’s policies can cause your mortgage to fall through. Losing your job, acquiring new debt, or significant changes in interest rates can impact your loan approval. Without secure financing, proceeding with the purchase isn’t possible without an alternative plan. Be sure to keep your realtor (and your lender) abreast of any potential changes- that way, there’s time to try and pivot.

5. Neighborhood Concerns

After making an offer, you might discover issues with the neighborhood that weren’t apparent initially. This could include plans for undesirable developments or zoning changes that change livability or future property values. If the community doesn’t meet your expectations for safety, amenities, or future growth, reconsidering the purchase is prudent. Working with a realtor who is well-versed in the neighborhoods you’re shopping in is a great way to avoid problems from the start.

6. HOA Restrictions

If the home is part of a Homeowners Association (HOA), it’s crucial to review their rules and regulations. Excessive restrictions, high fees, or poorly managed HOAs can lead to ongoing frustrations and financial burdens. If the HOA terms don’t align with your lifestyle or budget, it’s a valid reason to walk away. Your realtor may suggest that you consult with an attorney as you are reviewing HOA documents.

7. Seller’s Non-Disclosure

If you discover that the seller has intentionally withheld important information about the property, such as past damage, renovations without permits, or neighborhood disputes, this breach of trust is a significant red flag. Full disclosure is essential for making an informed decision, and lack of it can justify backing out of the deal. It’s important to note that most sellers don’t know *everything* about the property they’re selling- so consult with your realtor if you have concerns about what’s been disclosed. Sometimes, it’s just an ordinary oversight on the part of a seller- and can be remedied with simple clarification paperwork. Other times, it’s more serious. Your realtor can help you sort the difference.

8. Personal Circumstances Change

Life is unpredictable. Job relocations, changes in family dynamics, or health issues can arise, making the purchase impractical. Personal well-being and stability should always come first, and sometimes that means delaying a home purchase. If you’re thinking of making a home purchase- let your realtor know of any potential life events that are on your radar. They can help you make informed decisions about how best to pivot, if pivoting is needed.

The Takeaway

Walking away from a pending home purchase isn’t a decision to be taken lightly. Sometimes, there are big financial consequences to bailing- including losing your earnest money or legal action from the seller for breach of contract. But sometimes- walking is the best course of action to protect your financial and personal well-being. Your realtor can help you evaluate options and guide you though the proper way to exit a transaction.

Buying a home is a big deal. Your realtor can help you conduct thorough due diligence, seek additional professional advice, and make decisions that protect your interests. The right home, free of significant issues and in a suitable neighborhood, will eventually come along. Remember, it’s better to wait for the right opportunity than to regret a rushed decision.

Have questions about the home buying process? Thinking of making a move? Reach out! I’d love to help you find your next Living Room.

Argay Terrace Mid Century Gem: SOLD!!!

Posted on by Veronica Powell

Argay Terrace is a secret little pocket neighborhood with great access to HWY 205 (Airport!) & HWY 84 (The Gorge!).  If Mid Century is what you’re looking for, this is where you want to be!  This established Mid Century neighborhood boasts longtime residents and pride of ownership.

This house was an updated 4BR/3BA with a daylight basement and bonus “sub-basement”  ready for the Buyer’s vision (i.e. Craft Room? Game Room, Media Room? Storage?).  This one is SOLD but if you’d like one like it, I’m happy to help you hunt one down.  If you have a home in the area you’d like to sell, I’d be happy to help with that too.  It’s the perfect time to start prepping those fall listings. Give me a call, I’m happy to help you like I helped these Sellers.

Veronica Powell

503.936.3475

 

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Portland Oregon Real Estate Market Update for March 2024

Posted on by Lily Ray Wyss

What we discuss:

How we are seeing higher real estate market activity across the board.

The benefits of this market for sellers.

How competition is high for buyers even though rates are still high.

The NAR settlement.

The Spring real estate market is in full swing and it shows in the numbers:

New listings were up 7% last month with 2,085 homes hitting the market.

Pending sales were up 16% with 1,742 homes going under contract.

Sold home activity was up 16% with 1,284 homes going to new homeowners.

Inventory of homes went back below 3.0 months down to 2.8 months.

The average sales price also did not move much with an average of $609,000.

Overall we have been trending back to a hot sellers market and that market is here.

Even with high interest rates (which unfortunately are predicted to stay at current levels through the summer) buyers are finding new motivation and are out there and ready to buy.

If you are a potential home seller this is great news.

When we take the proper steps to prep your home, stage it, market it and most importantly price it right (this is especially important with rates still being high) we have a higher likelihood of entering into a multiple offer situation than we have seen in the last year or so.

We should see buyer activity remain high through the rest of the Spring and early Summer but it will likely tapper off as we head further into the year. So time is of the essence to some degree if you are looking to take advantage of the current market.

If you are a home buyer or someone thinking of buying a home this year, competition certainly is back.

When we find a home you love, you can expect that you will likely be competing with at least one other buyer.

But don’t fret, we have a bunch of high level negotiation strategies we can use to help you compete and win.

Also, if you have seen the news lately, you have probably heard of the NAR (National Association of Realtors) Settlement regarding agent compensation and transparency. I talk a bit about it in the video above (I believe around minute 5) but if you have any questions and or want to talk about it in more detail I am here.

And as always, if you are wanting to talk more about your Spring home buying or selling plans I am here for you. While this market is seeing higher activity overall, different areas/price points/style of homes have their own unique micro markets, so its important that we talk one on one about what you can expect based on your own needs. You can find my contact information below.

The parks and green spaces of Milwaukie

Posted on by Jessica LeDoux

Milwaukie, Oregon is rich with a variety of parks and green spaces that cater to the outdoor enthusiast, families, and individuals looking to connect with nature. Here are some notable parks in Milwaukie:

1. Milwaukie Riverfront Park: This scenic park sits along the banks of the Willamette River, offering stunning views and a tranquil atmosphere. It features walking paths, picnic areas, and a boat ramp, making it an ideal spot for leisurely strolls, picnics, and water activities.

2. Spring Park: Known for its lush greenery and picturesque setting, Spring Park is a popular destination for outdoor recreation. It has playgrounds, sports courts, walking trails, and a disc golf course (a popular Oregon pastime).

3. Dogwood Park: Nestled in a residential neighborhood, Dogwood Park is a charming community park with amenities for all ages. Visitors can enjoy playground equipment, sports fields, picnic areas, and a dog park, making it a favorite spot for families and pet owners alike.

4. North Clackamas Park: This expansive park offers something for everyone, from sports enthusiasts to nature lovers. It features athletic fields, tennis courts, a skate park, and walking trails, as well as a disc golf course and a BMX track. With its diverse range of amenities, North Clackamas Park is a hub of recreational activity year-round.

5. Century Park: Situated near downtown Milwaukie, Century Park provides a peaceful retreat from the hustle and bustle of city life. It features open green spaces, walking paths, and a playground, making it a serene oasis for relaxation and play.

6. Trolley Trail: While not a traditional park, the Trolley Trail deserves a mention for its significance in Milwaukie’s outdoor landscape. This scenic trail follows the path of the historic Portland Traction Company railway line, offering walkers, joggers, and cyclists a picturesque route through the city’s neighborhoods and natural surroundings.

 
SEE…
 
Embracing the Tranquil Charms of Milwaukie, Oregon

Embracing the Tranquil Charms of Milwaukie, Oregon

Posted on by Jessica LeDoux

In 2021, my life took an exciting turn as my husband accepted a position at Clackamas Fire, leading us to make the pivotal decision to relocate to Milwaukie, Oregon. Little did I know then that this quaint town nestled in the heart of the Pacific Northwest would capture my heart.

A multitude of factors drove our decision to move to Milwaukie. One of the primary draws was the promise of expansive lots, offering ample space for our family to thrive and grow. Coming from a bustling city, the prospect of a quieter community was incredibly appealing, providing a welcome respite from the hustle and bustle of Portland.

Accessibility was another key consideration in our relocation. Situated just south of Portland, Milwaukie boasts excellent connectivity, making it easy to commute to neighboring areas while still enjoying the tranquility of suburban living. Despite its proximity to the city, Milwaukie maintains its distinct identity, offering a unique blend of urban amenities and small-town charm.

One of the greatest joys of living in Milwaukie is its proximity to nature. The city is full of amazing green spaces and easy access to outdoor adventures like paddle boarding along the Willamette or floating the Sandy River.

For us, Milwaukie has become home and has offered the perfect blend of nature, space, and community.

 
SEE… 
 
Notable new developments in Milwaukie

Notable new developments in Milwaukie

Posted on by Jessica LeDoux

MILWAUKIE, a city just outside of Portland in Clackamas County (with the exception of a small portion of the city in Multnomah County), is a suburb known for its larger lots, smaller town demeanor, and affordability as compared to surrounding neighborhoods. For a long time Milwaukie has had “up and coming” written all over it, a fate recently confirmed by the addition of the Milwaukie New Seasons, the development of which has long been viewed as a major indicator of increased investment in a community.

Another upcoming welcome addition to the neighborhood is pFriem Family Brewers, anticipated to open in April of 2025. For buyers looking for close proximity to amenities such as shopping, pubs, and eats, Milwaukie has often not been on the radar. With these two big changes to the city, Milwaukie’s reputation as being at a social remove is evolving alongside its desirability and housing costs.

 

SEE…
Embracing the Tranquil Charms of Milwaukie, Oregon
The parks and green spaces of Milwaukie
Dogwood days of Milwaukie

Celebrating Single Women Homeowners in Oregon

Posted on by Living Room Realty

Did you know more single women than men own homes in Oregon? Yep! According to census data by Axios, 12.2% of homeowners in Oregon are single women compared to 9.4% of homeowners who are single men. So if these women can do it, so can you! Where to start?

Embarking on the journey to purchase a home as a single woman can be an incredibly daunting experience. Where do you begin? How much money should you spend/pay/save? Who should you work with? Where should you buy? Where should you NOT buy? Etc. etc. From financial planning to navigating the real estate market, I’m here to help you overcome these unique challenges. Here are five tips to help you get started.

1. Know Your Budget
Before diving into the house-hunting process, it’s crucial to have a clear understanding of your budget. Take the time to evaluate your financial situation, including your income, expenses, and savings. Consider consulting a financial advisor to determine how much you can comfortably afford to spend on a home, taking into account factors such as mortgage payments, property taxes, insurance, needed repairs, and cosmetic upgrades.

2. Research Your Desired Location
Educate yourself about the hyper-local real estate market to gain insights into current trends and property values. Pay attention to factors like proximity to amenities, safety, and future development plans. Drive your commute route and see if it makes you happy. Commute time can weigh heavily on overall happiness, so while you might be living close to restaurants & shops, it’s important to consider how far away you are from your place of work.

3. Establish Your Priorities
As a single woman homebuyer, it’s essential to prioritize your needs and preferences when searching for a home. Consider factors such as location, size, layout, and amenities that align with your lifestyle and goals. Create a list of “must-haves” and “nice-to-haves” to guide your search and help you focus on properties that meet your criteria. Share this list with your real estate agent.

4. Lean on Your Support Network
While purchasing a home solo can feel daunting at times, remember that you’re not alone. Lean on your support network; whether it’s family or friends, your chosen real estate partner, or lender, guidance & advice is just a phone call or text away. Building your “real estate team” will not only help provide you with a sounding board for ideas but it will further cement the ultimate decisions you make as the right ones.

5. Trust Your Instincts
Finally, trust your instincts and intuition when making decisions about purchasing a home. Pay attention to how you feel when visiting properties and envisioning yourself living there. Don’t rush into a decision out of fear or pressure; take your time to find the right home that feels like the perfect fit for you. This also applies to the people you choose to work with: find a real estate agent and lender that feel like friends and who are professionals you trust. Your gut is rarely wrong; so if you don’t like talking to these people or sharing your hopes & dreams, chances are you won’t like working with them.

Navigating the real estate market as a single woman may present its challenges, but it’s also an opportunity for growth, independence, and empowerment. By taking proactive steps to educate yourself, establish your priorities, and trust your instincts, you can approach the homebuying process with confidence and achieve your homeownership goals. Remember, you have the strength and resilience to take on this challenge, change your life, and start building wealth today.

Contact me today for a free consultation!

Unlocking the Hidden Value: The Benefits of Hiring a Buyer’s Agent

Posted on by Sally Tansill

In the intricate world of real estate, navigating the complexities of buying a property can be daunting. From sifting through listings to negotiating contracts, every step demands careful attention and expertise. In this journey, having a trusted ally can make all the difference. Enter the buyer’s agent, a seasoned professional dedicated to representing your interests throughout the home-buying process. Let’s explore the myriad benefits of enlisting the services of a buyer’s agent, while also highlighting the fiduciary duties they uphold, as outlined in the Realtor Code of Ethics.

Market Expertise: Buyer’s agents are well-versed in local real estate markets. They possess valuable insights into neighborhood trends, property values, and market dynamics. Leveraging their knowledge, they can guide you toward neighborhoods that align with your preferences and budget, ensuring you make informed decisions. Upholding their fiduciary duty to the buyer, buyer’s agents prioritize your interests above all else, providing objective advice and guidance to help you achieve your goals.

Access to Listings: While online listing platforms provide a wealth of information, buyer agents often have access to exclusive listings and off-market properties. This gives you an edge in finding hidden gems that might not be readily available to the general public, expanding your options and increasing the likelihood of finding your dream home. By diligently searching for properties that meet your criteria, buyer’s agents demonstrate their commitment to fulfilling their fiduciary duty of loyalty, always acting in your best interests.

Negotiation Skills: Negotiating the terms of a real estate transaction requires finesse and tact. Buyer’s agents are skilled negotiators with a keen understanding of market conditions and property values. Whether it’s securing a favorable purchase price, negotiating repairs after inspections, or navigating contingencies, they advocate for your best interests every step of the way. Upholding their fiduciary duty of confidentiality, buyer’s agents handle negotiations with discretion and professionalism, safeguarding your sensitive information and strategic objectives.

Streamlined Process: Buying a home involves a multitude of tasks, from scheduling viewings to coordinating inspections and closing procedures. A buyer’s agent acts as your point person, streamlining the process and managing the logistics on your behalf. Their expertise ensures that deadlines are met, paperwork is handled efficiently, and potential roadblocks are addressed promptly, reducing stress and saving you time. Upholding their fiduciary duty of diligence, buyer’s agents meticulously oversee every aspect of the transaction, ensuring that nothing falls through the cracks.

Professional Network: Buyer’s agents often have an extensive network of industry contacts, including lenders, inspectors, contractors, and real estate attorneys. Drawing upon this network, they can connect you with trusted professionals who can facilitate various aspects of the home-buying process. This network not only enhances the quality of service you receive but also provides access to resources that may not be readily available otherwise. Upholding their fiduciary duty of care, buyer’s agents ensure that you receive expert advice and support from qualified professionals at every stage of the transaction.

Transaction Management: From offer acceptance to closing day, numerous details must be managed to ensure a smooth transaction. Buyer’s agents oversee the entire process, coordinating with all parties involved, including sellers’ agents, title companies, and lenders. Their meticulous attention to detail helps prevent potential hiccups and ensures that the closing process proceeds seamlessly. Upholding their fiduciary duty of obedience, buyer’s agents adhere to your instructions and preferences, guiding you through each step of the transaction with integrity and professionalism.

Buyer Representation: In a real estate transaction, the seller is typically represented by a listing agent whose primary duty is to secure the best possible outcome for their client. By hiring a buyer’s agent, you have someone in your corner, dedicated solely to representing your interests. This level of advocacy gives you peace of mind, knowing that your needs and priorities are being prioritized throughout the transaction. Upholding their fiduciary duty of undivided loyalty, buyer’s agents work tirelessly to protect your interests and ensure a successful outcome.

Enlisting the services of a buyer’s agent offers a multitude of benefits that can significantly enhance your home-buying experience while upholding the highest standards of professionalism and ethics. From market expertise and negotiation skills to streamlined processes and professional representation, their guidance and support are invaluable assets in navigating the complexities of the real estate landscape. So, whether you’re a first-time homebuyer or a seasoned investor, partnering with a buyer’s agent can help you unlock the hidden value and achieve your real estate goals with confidence, knowing that your interests are always their top priority, as mandated by the Realtor Code of Ethics.

REAL ESTATE NEWS: CELEBRATING OUR TEAM!

Posted on by ARYNE + DULCINEA

CELEBRATING OUR TEAM!

.       

On this International Women’s Day, we want to highlight this ALL WOMAN team and celebrate their spirit, determination, and the amazing energy they bring to work every day.

When they are not hard at work for you, here are some fun things to know about our team members (and a SPECIAL SHOUT OUT below):

Aryne, our lead Buyer’s Agent loves getting into challenging yoga poses, enjoying sports with her family, and hiking both in nature and around the city!

Dulcinea, our lead Seller’s Agent loves entertaining,  traveling the world, art and design, and spending time with her family + pets!

Jen Barefield, our Operations Manager loves to throw pots on the wheel, spend time with her dogs and family, and loves to dig in the dirt in her amazing garden.

Isabelle Richard, our Team Assistant… SPECIAL SHOUTOUT to Isabelle who has been working with us since July 2021. Isabelle is an avid cook and loves to go for long city walks. We couldn’t have found a better team assistant. She is about to say good-bye to us and move into a new field as an assistant apparel buyer.

We will miss her dearly and are so happy for her and her new adventure! Go, Isabelle!

         
#portlandrealestate #toprealestateagentspdx #realestateportland #livingroomrealty #ADUexperts #ADUspecialists #ADUconsultation #realestateagent #topagents #bestportlandrealtor #buyingahouse #sellingyourhome #buyingandsellingrealestate #investmentproperty #firsttimehomebuyer #paringdown #emptynesters #excellentclientcare #bestexperience #propertymavens #dulcineamyersnewcomb #aryneblumklotz #buying #selling #wheresyourlivingroom #movingtoportland #relocation #lovewhereyoulive #buyyourdreamhome
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March Magic: Attracting and Feeding Wild Birds in Your Portland Backyard

Posted on by Lydia Hallay

Welcome to March Magic for Bird Lovers in Portland! As the city gears up for spring, it’s the perfect time to transform your backyard into a haven for wild birds. Whether you’re a seasoned birder or just starting out, here’s your ultimate guide to attracting and feeding wild birds in Portland during March.

1. Choose the Best Bird Feeders

Selecting the right feeders is key to attracting diverse bird species to your backyard. Tube feeders cater to smaller birds like finches and chickadees, while platform feeders are ideal for ground-feeding species such as sparrows and juncos. Don’t forget suet feeders for woodpeckers and nuthatches!

2. Opt for Nutritious Bird Food Blends

Offer a diverse menu to entice various bird species. Invest in high-quality birdseed blends containing sunflower seeds, millet, and cracked corn. Black oil sunflower seeds are a favorite among many backyard birds, while nyjer seed attracts finches like goldfinches and pine siskins. Backyard Bird Shop is one of my favorite local resources for all things bird-related.

3. Provide Fresh Water Daily

Even in chilly March, wild birds need access to clean water for drinking and bathing. Invest in a birdbath or shallow dish and ensure it’s filled with fresh water daily. Consider adding a heating element to prevent freezing during cold spells, ensuring year-round water access.

4. Create Shelter with Native Plants

Native plants provide essential shelter and habitat for wild birds. Plant native shrubs and trees like Oregon grape, serviceberry, and Pacific wax myrtle to offer protection from predators and additional food sources.

5. Maintain Cleanliness for Bird Health

Regular maintenance is crucial for the health of your avian visitors. Clean feeders and water sources regularly to prevent disease spread. Remove moldy or spoiled food promptly, and keep the feeding area clean by raking up fallen seed hulls and debris.

6. Be Patient and Observant

Attracting wild birds requires patience and observation. Spend time observing bird behavior from a distance to avoid disturbance. Keep a journal to record species encounters and track their visits over time.

Conclusion

As March brings longer days and warmer weather to Portland, it’s the perfect time to welcome back our feathered friends. By following these tips for attracting and feeding wild birds in your backyard, you can create a sanctuary that brings joy and wonder to your life. Get ready to embark on a birding adventure right in your own backyard!

Portland Home Buying Tips, Inspired by Hermit Crabs

Posted on by Lydia Hallay

In Portland, Oregon, where creativity thrives and individuality is celebrated, the journey of a homebuyer can mirror that of the humble hermit crab, hunting for a shell along the rugged Oregon coast. As Portlanders embark on their house-hunting adventures, they can draw inspiration from the coastal creatures that navigate their surroundings in search of the ideal shell. Here’s what Portland home buyers can glean from the wisdom of hermit crabs:

  1. Embrace Unconventional Spaces

Much like the eclectic spirit of Portland’s neighborhoods, hermit crabs are known for their ability to thrive in unconventional spaces. They’re not bound by traditional norms and are willing to explore hidden gems tucked away in unexpected corners. Portland home buyers, too, can embrace the city’s diverse architectural landscape, considering everything from cozy bungalows in Alberta Arts District to mid-century gems at the base of Mt. Tabor, each offering its own unique charm and character.

  1. Size Isn’t Everything; Character Counts

In a city where individuality reigns supreme, Portlanders understand that size isn’t everything when it comes to finding the perfect home. Just as hermit crabs prioritize shells with character and charm over sheer size, Portland home buyers appreciate the quirks and nuances of older homes with history and personality. From craftsman cottages adorned with lush gardens to modern masterpieces  nestled in the hills, it’s the character that truly makes a house feel like a home in Portland.

  1. Location with a Dash of Quirkiness

Portland’s neighborhoods are as diverse as they come, each with its own distinct vibe and personality. Whether it’s the bustling energy of Southeast Division Street or the laid-back atmosphere of Laurelhurst, Portland neighborhoods reflect the unique interests and lifestyles of the people who live there. Like hermit crabs scouring the coastline for shells in prime locations, home buyers in Portland seek neighborhoods that offer a perfect blend of convenience, community, and, of course, a dash of quirkiness.

  1. Embrace Sustainability and Green Living

Portland has long been recognized as a pioneer in sustainability and green living practices. Just as hermit crabs instinctively understand the importance of protecting their environment, Portland home buyers are drawn to eco-friendly homes that minimize environmental impact and promote sustainable living. Whether it’s a LEED-certified home in the Hawthorne District, or craftsman with a 10/10 energy score in Sellwood, Portlanders are committed to reducing their carbon footprint and preserving the natural beauty of the Pacific Northwest.

  1. Lean on Local Experts

In a city where local expertise and community connections are highly valued, Portland home buyers can benefit from leaning on the knowledge and guidance of a local real estate professional who knows the ins and outs of Portland’s diverse neighborhoods. Whether you’re new to town or just new to the neighborhood, it can be helpful to work with a Realtor who’s familiar with all parts of the metro area, and sees the big picture of the competitive market.

In the end, just as hermit crabs find sanctuary in the perfect shell, Portland home buyers can find solace and belonging in a place they can truly call their own. With a spirit of adventure, a dash of quirkiness, and a deep appreciation for all things unique, Portlanders can embark on their house-hunting journey with excitement and optimism, knowing that the perfect home is waiting to be discovered in the heart of the Rose City.

Looking for Portland homes for sale? Whether you’re in search of Portland real estate tips, lender connections, or a Realtor who can be your expert guide to the city, I’d love to help. Reach out today!

Real Estate Market Forecast for 2024

Posted on by Lily Ray Wyss

No one knows for certain what 2024 has in store in the world of real estate. But in the video above we discuss a few widely predicted trends.

Here are a few highlights:

Interest rates are already trending downwards (whoohoo).

With this we are already showing higher motivation from home buyers which will continue to increase.

Hopefully, this means we will also see higher motivation from home sellers (as sellers notice the higher demand from buyers). Leading to more homes and more options to the market.

Meaning we can predict an active Portland Oregon Real Estate Market for most of 2024. We could potentially see the market slow down in the second half of the year, if we follow trends from past election years.

Want to discuss your potential home buying or home selling needs for 2024? I would love to connect. Reach out and we can set up a time.

You can contact me below or reach me at lily@lilyrayres.com.

How To Buy a Home in a Hot Real Estate Market

Posted on by Lily Ray Wyss

All signs are pointing to a hot real estate market in 2024.

With lowering interest rates we are going to see a lot of buyers enter the real estate market. If you are someone who is looking to buy yourself, you will want to be prepared that you may have to compete when it comes to writing an offer on a home.

However, if you are someone who doesn’t have a ton of extra cash, know that you are not SOL. There are many strategies we can employ and tools you can utilize.

In the video above we discuss strategies you can use to have a competitive offer and ideally a winning offer to purchase a home.

Watch the video and then when you are ready, reach out and we can come up with your custom home buying strategy together.

You can contact me below or reach me at lily@lilyrayres.com.

New Year, New To Do! ~January Home Maintenance

Posted on by Kiersten Frey

New Year, Fresh Checklist!

Winter is in full swing, and we know home maintenance can feel daunting, but fear not! Here to
make it easy on your time and wallet, let’s dive into the tasks that need your attention:

 

Holiday Cleanup:

  • Take down those festive lights and prevent tangles by wrapping them around a hanger.
  • Self-clean the oven and wipe the interior with a vinegar-soaked cloth.
  • Dispose of your Christmas tree wisely – compost or use it for midwinter mulching.
    Pro Tip: Consider a one-time cleaning crew, costing around $200-$250.
    Ask your Realtor to recommend a reliable cleaning contact or two.

 

Protect the Pipes:

  • Prevent frozen pipes by wrapping them with heat tape, controllable with a thermostat.
  • If you’re off for a winter vacation, turn off water to outdoor spigots, shut off water valves,
    and drain existing water.
    Pro Tip: Thaw frozen pipes with a heating pad or hairdryer. In case of a burst pipe, shut off the
    main water valve and call a plumber or a water restoration company for cleanup.

 

Check for Storm Damage:

  • Post-winter storms, inspect your roof, siding, gutters, and yard for potential damage.
  • Use binoculars or invest in a drone to spot damage without climbing on the roof.
    Pro Tip: Immediate repairs are crucial. A handyman can handle minor fixes, and
    roofing experts can tackle more serious issues.

 

Remove Hidden Dirt:

  • Clean those often-neglected spots like range hoods, refrigerator coils, and HVAC vents.
  • Let your dishwasher handle metal parts, and toss dirty sponges and dishrags in for a quick clean.

 

Tighten Hardware:

  • Shine and tighten doorknobs, hinges, cabinet pulls, and nobs.
  • Level those cabinet doors for a quick facelift.
    Pro Tip: Clean metal hardware with soapy water and shine with a microfiber
    cloth dipped in vinegar or lemon juice. Brass polish works wonders on solid brass.

 

Deep Dive & Declutter:

  • Channel your inner Marie Kondo and declutter rooms, closets, and drawers.
  • Take it in small steps – tackle one room or corner each day.

 

Think Green:

  • Combat January gloom by planning for spring. Grab seed catalogs and start planning your gardens.
    Pro Tip: Opt for raised-bed or container gardens for low-maintenance greenery. Create weed-free soil with vermiculite, peat moss, and compost.

 

There you go! Your efficient guide to a well-maintained home. Happy New Year!

Peppermints and Furnace Filters

Posted on by Veronica Powell

 

 

This holiday season I promised myself that despite the typical holiday chaos, I would try to take some time for myself and do something fun that I’d been putting off.  Binge watching the Great British Bake Off inspired me to finally attempt  some  Peppermint Meringues I’ve always wanted to try making. They ended up being super easy and delicious!  I’m looking forward to taking this newly acquired meringue expertise to the next level by attempting a  Boccone Dolce made of meringues, fruit and whipped cream. Yum!  If I can master this in time for a birthday party I’m hosting, it would be such a win!

If you’ve been putting off something fun (i.e. baking) or maybe even something not so fun (i.e. changing your furnace filter) getting these little projects done before the 1st of the year can lead to some good momentum as we head towards New Years Resolution time.

If you have bigger projects on your resolution list, like buying or selling a house,  I’d be happy to help you accomplish that goal by breaking that down into manageable steps.  As with any project,  baby steps (i.e. Peppermint Meringues) can be stepping stones to achieving the bigger goal (Boccone Dolce for that upcoming birthday party!).

Wishing you success on whatever is on your New Years Resolution list.  May your accomplishments bring you peace and joy in the New Year!
Veronica Powell
Veronica@LivingRoomRE.com
503.936.3475

Debunking Holiday Real Estate Myths

Posted on by Shannon Ilas
Today we’re debunking winter real estate myths…
And what you should keep in mind if you want to buy or sell soon!
🏠 Myth 1: “No one buys or sells homes during the holidays.”
Reality: While the market might be less active, there are always situations, such as job or life changes? Or just a desire for change, that lead to serious buyers or sellers, even this time of year.
🏠 Myth 2: “It’s better to wait until spring to sell.”
Reality: While spring is a popular time, there might be less competition during the holidays, allowing your property to stand out to the serious buyers that are out there now.
🏠 Myth 3: “Buyers are too busy with the holidays to house hunt.”
Reality: Serious buyers often use their time off during the holidays to search for homes. Additionally, corporate relocations can happen at the end of the year, bringing in potential buyers.
🏠 Myth 4: “Homes don’t show well in winter months.”
Reality: Winter weather can actually help showcase a home’s coziness and highlight noteworthy features, such as fireplaces. Plus, holiday decorations can offer additional warmth and charm.
So if you’re thinking of making a move, now might be the perfect time to get started! Give me a call  at 971-220-8165 or email shannon@shannonilashomes.com

Congrats to Nichole on your first home!

Posted on by Greg Washington

I’m so thrilled to congratulate my buyer Nichole, a single mom, on the purchase of her first home! We were able to work through the challenge of higher interest rates to find a two bedroom townhome, the perfect place for mom and son to call their own. I wish them many happy years in their new home and neighborhood!

 

From North Portland to the Westside: A New Neighborhood for Patrick & JoAnne

Posted on by Living Room Realty

I am so excited to welcome my clients Patrick & JoAnne home to their beautiful new house in SW Portland!

These clients began with a clear vision, searching for the perfect Westside house that they could call home. The initial excitement led us to some incredible houses, & after a promising start with a house that caught their hearts, reality hit hard when our first offer wasn’t accepted. Undeterred, we continued our search, evolving our criteria & areas of interest to focus on move-in ready one-level homes.

We saw some more great properties & wrote a couple of additional offers but nothing quite compared to that first house. Through it all, these two kept their spirits high & never gave up on the dream of their perfect forever home.

And then, finally, WE FOUND IT! We stumbled upon a property that checked nearly every box on their original list. The excitement was palpable & we knew that we had to act fast to beat the strong competition for a coveted one-level home. While the property had been sitting on the market for a while, it had just had a significant price reduction, so we knew it was an opportunity we couldn’t ignore.

Negotiations began & my team & I worked tirelessly to secure the deal. The outcome was worth every moment of anticipation. Not only did my clients get more home for their investment compared to previous contenders, but they also gained an incredible backyard space with a pool! This home was well worth the wait & Patrick & JoAnne are ready to settle in.

This transaction was a testament to the power of resilience, strategic planning, & teamwork. Consistent communication with the listing agent was crucial, from initial negotiations to repair discussions & wrapping up the final details. We also made sure that we were timely in scheduling showings to ensure that we were some of the first through the door. And when we found the one, we acted fast, gathering info & building our strategy as a team.

I am so honored to be a part of this incredible chapter in Patrick & JoAnne’s lives. Now they just have to wait patiently for summer to come so that they can host their first pool party! Congrats to this amazing couple!

Looking to make a move? I’d love to work with you!

Beth Benner, Broker Licensed in Oregon & Washington

503-819-2885  |  www.bridgetoportland.com  |  beth@bridgetoportland.com

Smiles, Plans, and a New Beginning: Celebrating Jason’s Homeownership Success in Battle Ground, WA

Posted on by Carrie Struss

I am thrilled to welcome my client Jason to his new home, just in time for the holidays! When I first met Jason he wasn’t quite ready to buy a house. Sometimes life doesn’t move as fast as we think so we have to wait it out. Working side by side with his lender, Shawna Clough, Jason made a plan and now, six months later, he’s closed on a house for him and his kids in Battle Ground WA.

My favorite part of this transaction was when I took Jason and his two daughters to see this house for the first time. Everyone was smiling and future planning who was going to get which room, what was going to go where, and how long they had to wait before they could get a dog. After that, we knew it was the one Jason wanted to call home.

Helping clients through life’s transitions and seeing the joy home ownership brings my clients is why I do what I do. Congratulations Jason! I can’t wait to come meet the new dog!

Let us Discuss the POSITIVES of today’s Real Estate Market.

Posted on by Lily Ray Wyss

Current real estate market conditions have made home affordability tough.

But with it always being my goal to provide well-rounded information about current real estate conditions so you can make empowered decisions, let’s talk about the opportunities in today’s market.

Home prices are generally lower:

Just yesterday I got a first-time home buyer under contract on a townhome. Looking at comparable properties, back in May a home with the exact same specs in the same community sold for over 30k more.

Oh, and we also got the buyer a closing credit paid by the seller to temporarily lower his interest rate.

Speaking of which…

Seller-paid closing credits:

On the majority of transactions I have helped buyers with this year, we have been successful in negotiating a large credit paid by the seller to cover a portion of the buyer’s closing costs and or temporarily buy down the buyer’s interest rate.

Contractor response time:

Right now booking inspections and contractor appointments in a timely manner has been highly dependable. With the market being generally slower, inspectors and other contractors have way better availability than super hot markets. This week we got two sets of buyers under contract and I was able to get their inspections scheduled for the next day in both cases.

This might seem like a small benefit, but getting to know the condition of the home you are buying the next day vs waiting a week is a huge stress reliever and allows us more time for fact-finding and negotiating.

Better negotiating power:

With homes sitting on the market for longer periods of time it’s made home sellers more willing to negotiate with home buyers on things like contract terms and repair needs.

You can hold on to your contingencies: In past real estate markets when things got super competitive for home buyers they became pressured to give up certain contingencies in order to win the home.

Look the best time for you to buy a home is when you are ready.

But if you are waiting to buy until interest rates drop, just know that so are 66% of other home buyers according to a US News Survey. So it could be worth us having a conversation about the opportunities in today’s market.

Either way, I am here for you. If you would like to discuss what it would look like to buy a home this winter or in 2024 I am here for you.

Renovating toward your dream home

Posted on by Jessica LeDoux

Finding the perfect house is a dream and people need space to explore what this looks like for them. The reality is there is no perfect house, but gaining clarity about what you want by visualizing your ideal place is an essential part of the home buying process. I pride myself on helping clients create space for this inquiry because when we dream, we can act in service to our deepest values.

Prioritizing the features in a home that matter most and are unchangeable helps us create a roadmap to finding the right house within the budget, instead of chasing a unicorn. Plans and needs change and so can your house. When you select your home with your core needs in mind, there is a greater likelihood that your home can adapt alongside you.

I have inhabited many different eras of homes in my own house journey, which started in north Portland with a 1920s Piedmont bungalow. I was in my early 20s with my husband and a newborn. We spent 4 years on renovations and moved on right after they were complete. From there, we enjoyed the ease of new construction in Scappoose with our two kiddos until we returned to Portland to renovate a 1940s home. This time, we had more experience and renovated in an order that allowed us to enjoy the paradise we were creating in Roseway, but life changed and we picked up and moved to a quieter pace in the land of mid-century homes on large lots — Milwaukie. We knew this was the house we planned to stay in long term and we thought our years of renovating were over, so we bought a nicely remodeled 1960s ranch in the Oakridge Neighborhood. But renovation is in our blood; turning that off is very hard. When I tour homes, I instantly see the roadblocks and the possibilities and start looking at how to solve or improve them. 

We found the house knowing we would need to recreate the backyard oasis we had created in Roseway, but this desire blossomed into so much more. This project quickly became one we knew would be too large for my husband and I to take on ourselves. My husband Greg has remodeled every one of our projects – man, did he deserve a break – time, bandwidth, and willingness were depleted. This project was the first one that involved an addition to the house, so for the first time, we looked into hiring a designer and having the work professionally done. I learned so much along the way, adding one more layer of knowledge to help clients. The project kept growing, and we endured delays and surprises as you do in any project, but the stress was low because we trusted our contractor at the highest level and knew we were in great hands. This project was so different from past ones because we knew this was the home we planned to grow old in and pass on to the kids. Knowing this, I allowed myself to dream and made design choices with more self-expression than in past homes where we knew we would eventually move on. Searching for the right products and tweaking options to create the best space we felt was possible became an obsession. I reactivated a more creative side of myself lost through the years. This creative side I allowed myself to have, combined with my knowledge of homes and design, was a perfect recipe to create our dream space. 

What Makes the St. Johns Neighborhood Special -Part 2- Coffee Shops

Posted on by Living Room Realty

Coffee shops are community!

Every time I head to a new city or even just a new part of town, I make finding a great coffee shop the first order of business because there’s no better starting point for understanding the local community, no matter where you are. When you visit the St. Johns neighborhood, you’ll notice life moves a tad bid slower and that’s a good thing. The coffee shops are alive and bustling with folks working, unwinding, socializing and connecting.

And with the University of Portland just down the street, you’ll find University students regularly taking advantage of these great study spots.

Coffee shops are special because they reflect the atmosphere of the neighborhood and St. Johns is fortunate to have many unique and vibrant coffee shops which makes choosing just one very hard! A good problem to have :)!

Here are a few of my favorites:

Great North Coffee

This café feels like the heart of St. Johns. A popular meet-up spot as well as a great place to work or unwind with a snack. They roast great coffee and have other nice choices like kombucha and teas. The room has high ceilings and plenty of seating which gives it such a lovely and classic café feel. Locally famous for their next-level breakfast sandwich made with chimichurri or romanesco, and can be made vegan. Delicious and addictive! Also, you’ll find the classic pastries, cookies and bagels you expect from a great café. Don’t miss the local art on the walls!

 

Two Stroke Coffee Co.

Two Strokes Coffee is a moto-inspired coffee shop on the main drag of St. Johns, conveniently located next to a cool motorcycle & scooter shop called Sabatino Moto. This is a really fun cafe to visit and a great place to hang out. They serve wonderful coffee, pastries and have great baristas. There are a few motorcycles in the café and some stylish merchandise as well.

 

Sparrow Bakery

Sparrow Bakery is well known for incredible baked goods. They have 2 locations (the other is in Bend Oregon) and do wholesale baking for many other cafés. We are so lucky to have them in St. Johns! Sparrow makes great coffee and fabulous baked goods- I feel like it is a full-time job trying not to eat their pastries every day :). They are perfection! Plus there’s a large food menu making it a great spot for breakfast or lunch.

 

Cathedral Coffee

This one isn’t technically in St. Johns but I just had to add it! It’s officially in the Cathedral Park neighborhood (hence the name), but it’s verrry close to downtown St. Johns. Cathedral Coffee is an eclectic cafe that is always busy but never feels crowded. A beautiful large space with big windows, natural light, tall wood bookshelves & large tables. They roast their own coffee and bake their own sweets & savories, which are fabulous!

I highly recommend the foldovers they make with veggies and cheese (some have meat). They are fantastic and always fresh! And the cinnamon rolls are incredible. Many wonderful baked goods to choose from.

They also have plenty of great outdoor seating!

 

 

What about St. Johns Real Estate?

One more note regarding this current real estate market. St. Johns has seen a steady increase in property values and demand over the past few years with the average home price this August landing at $470,000 (source RMLS). To put that in perspective, the average home price for all of Portland Metro was much higher by the end of this August at $608,300 (source RMLS). 

If you’re considering the St. Johns neighborhood, I’m here to guide you.

I know the ins and outs of this neighborhood having lived here for more than 11 years. And, if you’re interested in other neighborhoods, that works too! I help people buy and sell homes all over Portland. I am known for my knowledge of the market and my ability to educate and listen carefully. You will benefit from my coaching heart and guidance that reduces stress and creates positive outcomes. I want to see you happy and satisfied with your real estate journey.

Read my reviews and bio for a good sense of what to expect from me.

I look forward to helping to make your home purchase pleasant, painless and hopefully even a little fun!

Before you go, here’s a fun fact: Did you know that St. Johns was once its own independent city before it was annexed into the city of Portland? In 1915, St. Johns voted to become part of the city, primarily to access the city’s services and infrastructure. The annexation was officially completed in 1915, and since then, St. Johns has been a neighborhood within the larger city of Portland.

Just Sold near Peninsula Park! Yay for my first-time home buyers!

Posted on by Living Room Realty

Congratulations to my clients!

As you may already know, my business is referral based and I love meeting new people. So you can imagine how happy I was when a past client recommended Jane and their partner to me. It was such a joy getting to know them on their house hunt!

Here’s a little rundown of how it went.

We started with a buyer consultation and spent an hour going over the process in general. That’s the best way to get started, going over the current market and setting expectations for everyone. That’s when I ask the most questions about what my clients are looking for and we set the pace for the house hunt.

 

We saw multiple houses every week in various neighborhoods for many weeks until we narrowed it down and found the area that felt like home. The house they chose checked a lot of boxes, it was the perfect size in a great location and it had more than one bathroom plus a garage (bonus!). We saw the house 3 times just to be sure and then successfully got the offer accepted! They did a great job of getting financially ready, approved by a reputable lender, and had all their ducks in a row in that arena. (That truly is the first step!)

 

As we went through the inspection contingency period, I really liked that Jane and her partner asked a lot of questions along the way. One thing that people don’t always lean into when buying a house is making time to dive into research and ask all of the questions, even the dumb ones (and there are no dumb ones). Carving out time for this is so helpful because it’s the meat and potatoes of the whole deal. I’m here to advise and guide you along, but there is a lot to digest and having the time for those conversations and follow-up questions will always feel good.

Here is a general overview of the inspection contingency period. I will advise you while you look over the permit history, have the sewer scoped, the home tested for radon, the property searched for underground storage tanks, plus have a whole property general inspection as well. And that’s not always all, there are more investigations sometimes. It’s a lot and it’s awesome! Because after all of that, clients have a much better understanding of the home with all of its pros and cons.

 

So in this case, some things did come up in the investigations and we negotiated a credit and a price reduction. A couple of weeks later we had fun at the signing and a few days later we wrapped it all in a bow and I gave them keys.

 

Please reach out if you’re interested in talking about buying or selling a home. I’m always here for a check-in about the current market, lender recommendations or anything I can do to help advocate for your homeownership.

 

 

Buying a House for the Dog!

Posted on by Jené DeSpain

It’s 2023. It’s Portland. We are buying a house for the Baaaaaby, our beloved pup! Why? Because she deserves it!

As of studies conducted this year, 66% of US households have a pet, with 77% of homeowners including a pet in their abodes. With home buying a hot national topic, studies have shown two-thirds (67%) of prospective buyers with pets say they’d buy a home specifically because of features that cater toward their pet. More and more people are prioritizing moving to create a better life and home experience for their fluffy one.

 

According to a recent Realtor.com survey:

  • Almost three-quarters (72%) of prospective buyers with pets admit that they would forgo buying their dream home if it didn’t accommodate their pets, while 62% of current homeowners with pets say they would.
  • Sixty-six percent of prospective buyers with pets have declined to live in an otherwise perfect home because it couldn’t accommodate their pets; and 44% of homeowners with pets say they would decline to live in an otherwise perfect home if it didn’t accommodate their pets.

Recently, I had the WONDERFUL joy of helping Mollie and Dave find a stunning, turn of the century Victorian in the heart of Portland’s Kerns neighborhood. AND – it fits their pup’s needs! We had such a great time dreaming of all the ways to evolve the yard to make it a dream oasis for Fiona. With native plantings, a grand front porch, and plenty of patio space, the possibilities are endless. Congratulations Mollie and Dave! Thank you for such a special experience. I can’t wait to come visit to discover all the spectacular personalizations you bring to your home!

Portland Real Estate: What we’ve seen and what’s to come.

Posted on by Jessica LeDoux
2023 MARKET UPDATE VIDEO
Our team lead and data aficionado Karim Alaeddine has this insight to share about the Portland market: 
 

Hey I’m Karim Alaeddine, Principal Broker at Living Room Realty… here to tell you what you need to know about the market for mid May/early June 2023. 

Let’s take a peek under the hood of the Portland market, look for trends and try our hat in prophecy… forecasting. 

Pricing is going up. It’s been headed north since the very first day of the year. 

Fun fact – the rolling average for median home sales price in Portland is only $50 lower than the absolute high water mark in Spring 2021, when inventory was non-existent and buyer competition was fierce, like… super competitive. We are at that absolute sales price average again today. 

Days on market – a measure of how quickly the current pool of buyers is burning through the current pool of listed homes. This metric has been dropping for 2 or 3 months… as it nearly always does in the spring. To give some perspective, this data (measuring the rate of homes being sold) was last at this level in the spring of 2020. So for most of 2020, all of 2021 & all of 2022, the average days a home spent on market was lower than this week. At its absolute low point in June of 2022, the # of days on market were half of today.

If you’re visual like me, you might imagine a roller coaster going up and down each year (as inventory increases, then gets bought up.) 2023 is a softer, easier ride. Not so dramatic and the downhill fun part (when a lot of homes are getting sold) is less steep… more of a family-friendly ride this year. It’s steady… or it’s a slog, depending on who we are talking with. Not overly volatile though.

That means homes are taking longer to sell… and we’re creeping into the spring/summer season more slowly. 

Let’s look at an interesting data point about pricing, that sort of answers the questions; 

“Should I wait?”

“Will I get buyers?” 

“Are prices going to go up?” 

“Are prices going to go down?” 

A statistic that sheds light on these kinds of questions… the questions we ask when we have begun to think about a move, and are looking into the market crystal ball… is the rate of price reductions in listed homes. 

“How many listings took a price reduction?” To frame the numbers for us, between MARCH of 2020 and AUGUST of 2022, at any given time 20% to 40% of the homes on the market had price reductions, and this was in the MIDDLE of the hot AF market. In SEPTEMBER 2022 that number was headed upward (as a direct result of rising interest rates and lower buyer activity.) It went as high as 55%. Yeah – more than 1/2 of homes on the market had taken price reductions. 

However, in May 2023 we were in the 33% range (middle range of even the smokin’ market) and that stat was trending downhill. We’ll see what Summer brings. Low inventory (the major issue in our market) should keep reductions down – prices up. But demand remaining low will stall things. We’ll see.

Homes are selling, mostly without reductions. Price drops are – of course – used to stimulate buyer activity, but less downward pricing pressure is required to move property when buyers are interested in making a move, in earnest. Lifestyle drives home purchases. Purchases drive market trends. It takes a lot of pressure to turn off the natural incentives of people to move, purchase, sell as these things are life-and-times driven.

Lastly, competition is increasing amongst buyers. (We could do a whole hour on the ins and outs of niche sectors of the market that outpace the averages for metro area – within which competition is still super fierce.) Interest rates were looking to be leveled – with small dips and rises each week of course, but relatively stable. Pricing is actually quite strong meaning the sentiment amongst the market actors (mostly buyers) is that Portland is a good buy for long term housing & investment. Rates may slow things further but the inventory and demand balance does seem to have some natural strength to it… steady or sloggy though this year.

So… with sales strengthening and inventory as low as it is, current supply and demand levels show no sign of prices changing course too dramatically. 

In closing… 

Spring is here. 

Homes are selling.

Not as crazy as last year. 

… Still Portland though. 

Realtors are advocates who help buyers & sellers ask the very best questions, in order to guide clients through the market and into secure, positive transactions that align with their goals and dreams. Hashtag honored.

We’d love to help you find your next home.

Top (not so) Secret Tool of Portland Real Estate

Posted on by Living Room Realty

Whether buying a house or just doing property research, we all have practical questions around real estate, neighborhoods, and our city and we are sure the answers are out there.  But often times, we’ve got no idea where to look!

As a licensed agent in this beautiful city, I hear a lot of questions on repeat.  To list some of the most frequent:

Did they pull a permit?
How is this property zoned? And what does R5 mean anyway?
What is crime *really* like around here?
Where’s the closest dog park?
What are the schools like?
The list goes on!

For buyers and sellers, Portland Maps can answer all of these questions and *more*.  To begin with, there are also maps of noise complaints, cannabis applications, short-term rental registry, and residential construction permits.

Portland Maps is also one of the greatest resources out there for Portland residents and homeowners.  With an incredible virtual tour of the Crystal Springs running from Johnson Creek Park to Reeds College and a map of Portland Hydro-parks, you might be surprised at what you’ll find.

Want to apply as a Green Street Steward (or find out what that even is)?  Want to browse a Portland tree inventory?  Pop your own address in.  See what you can learn about your biggest and best investment and this city we all call home!

–Patricia LoCascio

The Relocation Specialist Strikes Again!

Posted on by Jessica Ward

Welcome to Oregon, Phil and Lisa — all the way from Hawaii!

Looking for a trusted relocation specialist to help you move to Oregon? You’re in the right place! I’m Jessica Ward, a licensed real estate agent with Living Room Realty, and I specialize in helping out-of-state buyers relocate with ease. My clients trust me to guide every step of their move — from the first conversation to closing day.

Helping people relocate to Oregon is always meaningful to me. It’s a huge life change, and it takes confidence, communication, and trust to make it go smoothly. That’s why I treat every relocation as a personal partnership, not just a transaction.

Building Connection and Trust

Every relocation journey starts with a conversation. The first call often feels like an interview on both sides. My clients and I use that time to make sure we’re a good match. After all, alignment is key to reaching their real estate goals and affirming their decision to work with me as the best agent for out of state buyers moving to Oregon.

Once we agree to move forward, I act as both guide and educator. Real estate processes can vary from state to state, so I make sure my clients understand how buying a home in Oregon may differ from what they’ve experienced elsewhere.

From Hawaii Condo to Portland Home

In Phil and Lisa’s case, they had purchased their first home — a condo — in Hawaii. This time, they wanted a single-family home here in Oregon. We talked about what would be different this time around, from inspections to closing timelines.

I always encourage clients to ask questions, no matter how small. And I make it a point to find answers to the questions they might not even know to ask. That’s where real expertise makes a difference.

Touring from Afar

Once we covered the basics, the fun part began — house hunting! Because they were still in Hawaii, we toured homes virtually. We set up a time that worked across time zones, and I took them through each property via video chat.

Finally, we found “the one” — a charming home in Brentwood-Darlington with serious curb appeal. The inspection went fairly smoothly, and after some negotiations on repairs, we closed without a hitch.

The Big Day

After all that teamwork from afar, we finally met in person. Seeing my clients step into their new Oregon home for the first time was such a rewarding moment.

Thinking About Moving to Oregon?

If you’re planning an out-of-state move to Oregon, let’s talk. Whether you’re relocating from Hawaii or anywhere else, I’ll make sure you feel informed, supported, and confident every step of the way.

Contact me today to make your Oregon homecoming as smooth — and as exciting — as Phil and Lisa’s!

Hooray to these FIRST TIME HOMEBUYERS!

Posted on by Nicole Chavira

It has been a joy since our very first introduction that was thanks to a lovely past client 2 years ago. (Btw referrals are the biggest compliment and vital to my business so many thanks for all who recommend me🙏🏽) At the time, the housing market was a little coo-coo with those historic interest rates and an extremely competitive market. We got to know each other spending time seeing homes and then they decided to take a pause. A pause that turned out to be a blessing! As V excelled in her career with a promotion and a new little man was added to the mix, they reached back out and they were ready to make moves!

Literally and figuratively 😉

It was our first weekend checking out homes and they quickly found THE ONE! The right school district, space and location! It just felt right!

With 264 days on the market and 90k price reduction, over that span of time, we made an offer that was up against one other at the time. I was able to negotiate a 10k credit to my buyer’s towards their closing costs (this means less cash out of pocket at closing) a BRAND NEW ROOF and some other minor repairs!

When I say that I share the excitement of each and every one of my clients, I mean it! Their gratitude and trust in me as their Real Estate Professional created such a wonderful experience all around.

Thank you so very much for choosing me to go on this journey with you! Even on key day where the oldest boys ran from room to room seeing the home for the first time and leaping for joy, truly warmed my heart. Moments like those are exactly why I passionately advocate and love on my people.

Wishing you all the most beautiful of memories together as you make your new house a home!

You are an inspiration to so many other hard working individuals that the time to buy is when it’s right for YOU! Congratulations my friends 🥂🏡

How to Buy a Home in Portland, Oregon

Posted on by Bonnie Roseman

Empowerment in a Frenzied Market

If you find the current Portland real estate market overwhelming, you’re not alone. The good news is, new spring listings are popping up every day! Just not as many homes are available as there are buyers for them. Inventory is low and that creates a lot of organic competition, especially for the “best” properties. Homes that have been freshly remodeled, have a lot of style, and/or are in prime locations command attention, premium prices and aggressive terms. Many buyers feel priced-out after being out-bid in multiple-offer situations. Avoid Buyer’s Burn-out!

A Realtor from behind with grey curly hair which is standing on end in front of an orange background. Sweater has a "SOLD" sticker on it - implying how hair-raising the Portland market is.
It can be hair raising!

Fortunately, we’ve been at this a long time, and have assisted clients through every possible market on the spectrum.

 

Tips for nabbing your next home using creative shopping strategies:

  • I am not kidding about this- visit homes with ugly pictures! Beyond all the clutter and poor lighting you may find your treasure, hidden in plain sight and overlooked by most.
  • Consider properties that are showing a bit of wear and take on the project yourself to make it really shine. Sweat equity is real, but be honest with yourself. What resources will you have available to spruce up your new place. Is watching a how-to YouTube enough to help you handle the fixes, or will you need to hire experts? Skip wonky staircases, wacky floor plans and locations near freeways, bus stops, and busy streets. Buy smart!  
  • Look at homes priced well below your budget to give you room to fight and be the winning bidder!
  • Shop slightly above your current price range. Consider properties that have been on the market a while (translation: homes that are likely over-priced). 
  • Explore less expensive locations.
  • Re-evaluate your priorities and consider smaller homes and yards, homes without recent updates, etc.

 

How we can help!

Bonnie Roseman and Trish Sunderland, Realtors at Living Room Realty stand smiling in a staged dining/living room.
Bonnie Roseman and Trish Sunderland, Dynamic Real Estate Duo in Portland, OR

There are a few things we are doing behind the scenes for our buyer clients to help get them to the finish line. We scour Coming-Soon listings on the regular. We hustle to get our buyers into homes as soon as they hit the market. Pro tip: It’s not unheard of to persuade a seller to accept a compelling offer on day one on the market, thus avoiding a bidding war. We review old and expired listings and contact off-market homeowners who might consider selling. We leave no stone unturned to help you find your next home!

What can you do?

Get organized and prepare yourself. Consider your financing options and make a decision early in your journey. Where you will obtain your new mortgage? Your lender is your partner, just like your Realtor, in the homebuying process, so make sure you choose trusted advisors! Submit all of the needed documents and ask your lender to run your file through underwriting. Keep in touch with them and make sure you are crunching numbers using current interest rates and realistic estimates for property taxes and homeowner’s insurance. Don’t fall in love with a home only to discover the cash you need to close the deal, or to carry the monthly payments, are beyond your comfort level –OUCH!

If you have the good fortune to be paying with cash, make sure you have proof of funds at the ready!  

Financial readiness means your documentation is ready to go! 

  • If you are a cash buyer, or have a large down payment, have proof that the funds required for your purchase are in a checking or savings account in your own name. Believe it or not, mutual funds, ETFs, gifts and the like are NOT considered cash!
  • Engage a lender early, then obtain an up to date mortgage pre-approval letter that reflects the current interest rate and the property tax amount for each specific property you are considering. Your lender will also help you crunch the numbers so you know you are comfortable with the amount of cash you will need to close your purchase and cover the monthly carrying costs. If you love your lender- wonderful! If you don’t have one picked out yet, have no fear, we can connect you with a personal referral to a top notch local pro. 

 

On your mark

Drive, bike or walk by exciting new listings the first day on the market. Let your Realtor know right away when a place shows possibility and make yourself available ASAP to get inside. After all that hurrying, be prepared to wait patiently. Many of the most desirable properties will have due dates for offers a while out and you will need to bide your time. 

Understand pricing

Be prepared for newly-listed homes to sell for significantly more than the asking price, sometimes by a wide margin. If the listing has been on the market for 10-20 days it will probably go for right around asking price, and if it has been sitting for more than a month without a recent price reduction, a bigger discount may be in the cards. 

You can stay up-to-date with current market conditions with the weekly Portland report from Altos Research.

Average sales price in Portland, OR

 

Offer Terms- Price is not the only thing that matters to home sellers. Sometimes having the best terms can keep you in the running, or at least get you the opportunity to modify your offer without it being rejected out of hand, even if your offer isn’t the highest bid. Consider including terms that give the seller confidence in choosing you as their buyer.

When we work with our buyer clients, we discuss many creative ways to strengthen an offer. Two of the key items that can often make a difference are:  

  • Repairs

When it comes to repairs, sellers want to know that they will not be nickel-and-dimed during the inspection process. While most buyers are not in a position to make totally as-is offers, it IS possible to limit the risk to the seller without leaving yourself wide open. One strategy is to commit to accepting responsibility for needed repairs that fall below a certain threshold. This way the seller knows you will only attempt to negotiate if something big comes up. 

  • Appraisals

 As prices increase, it can become very challenging for appraisers to find past home sales (AKA “comps”)  that keep up with current values. This does not mean the value is not there, but rather that the data is not keeping up with rapid increases in market values. When a home appraises for less than the contract price, this is known as an “appraisal gap” because lenders base financing on the appraised value, not the purchase price.

Sellers want to know that you will close the transaction, even if there is an appraisal gap. You can solve this by adding cash to your down payment. Another approach is to keep your loan amount and down payment as planned, but preparing yourself for an adjustment in the Loan-to-Value ratio. This may have a small impact on your monthly payments in some cases. In others, it may have no impact on you at all! 

Here’s an example:

If you are paying $100,000 for a home, putting down $8,000 and borrowing $92,000 (92% Loan-to-Value), but your appraisal comes in at $95,000, you could still borrow $92,000 – it would just be underwritten at a higher Loan-to-Value because the LtV is based on the appraised value. 

100,000 sales price x 92% = $92,000 loan amount.

 

95,000 appraised value x 96.8% loan-to-value = $92,000 loan amount

The down payment is $8,000 either way!

 

 

 

Ready, Set, Go!

We pride ourselves on assisting clients to be selective in their home purchase decisions and writing offers with a high chance of acceptance in order to avoid a roller coaster ride. When you or your peeps are ready to buy – or even just thinking about buying in the future – it is always in your best interest to prepare ahead of time, with a solid team in place for when it’s time to make the leap. Drop us a line us at portland@realtor.com to get on our dance card!  Thank you for trusting us. Your new home awaits and we WILL get you to the finish line!

Bonnie Roseman and Trish Sunderland jumping energetically in a parking lot in front of a brightly painted striped brick wall.

First Time Homebuyers, from Handshakes to Hugs.

Posted on by Living Room Realty

I had the pleasure of meeting Jon in early Autumn of 2022 at a wee condo in SW Portland while hosting an open house. It was a lovely condo: very modern, floor to ceiling windows, two levels, 700 square feet. The downside being the many pet restrictions, and a high HOA. The $360,000 price tag looked good; however it didn’t quite work for Jon. Fast forward about six months later, and they were ready to begin in earnest as first-time homebuyers. Off to a coffee date we went where I had the pleasure of meeting Kevin, talked shop, made a plan, and we began. After talking to a lender and exploring neighborhoods around the city, they were seeing just how much home they could buy.

And then…we found THE one.

With Jon and Kevin, it was discovering that by doing their research, planning ahead, and getting all of their dogs in a row, (only because they have four of them, it couldn’t be ducks, and I couldn’t resist.), they landed this gem of a house. Instead of a 700sqft condo with the teeniest patio, they closed on their first, nearly 2,000sqft two-story house in the Montavilla neighborhood, 1940’s floor to ceiling windows included! It also has an enormous and private backyard for all their doggos.

This happened it seemed in a blink of an eye. (Another reason why it’s SO, SO important to prepare). When I got the call that they were ready to go, we immediately began to plan our house tour. It was so much fun! Only one day of touring several houses before we found THE house. Newly price reduced and it was within their reach. Of course, they weren’t the only ones who loved this house, and we competed with multiple offers. That’s often how it goes with price reductions, or corrections as we say. They drum up buyers to act. And act and win we did!

Prepare, my friends, prepare! The preparation for owning your first home takes time, patience, and sometimes a strong constitution. With every client I meet, I advise them to do the research, while I help guide them along the way. Get your advocates together, whomever that may be, whether it’s your bandmate, therapist, barista, pal, family, your people! Talk about it. Get excited about it! You’re about to take the plunge into homeownership, on to the adventure of building equity. Then find your cheerleaders/master negotiators – your LENDER and your AGENT. Once all of that is in order, the house hunting begins in earnest, and life changes completely. It’s an exciting ride first-timers!

Janelle Freeman, Realtor (@janelleisrealestate) • Instagram photos and videos

 

The First Time Homebuyers 💕

THE House!

1940’s Floor to Ceiling Windows!

5 Myths About Real Estate You Should Stop Believing

Posted on by Jessica LeDoux

If you’re thinking about buying a home or have already started the process, it’s likely you’ve come across mixed messaging or confusing advice. With so many “experts” out there, it can be hard to know who to listen to and who to ignore. To help clear things up, we’re busting 5 of the most common myths we hear about in real estate.

Myth #1 – You need a high down payment to buy a home

One of the most common myths we hear is that you need a large down payment, usually 20% of the purchase price, to buy a home. While it’s true that putting down 20% allows you to avoid private mortgage insurance (PMI), there are plenty of loan programs available that allow for lower down payments. In fact, many first-time homebuyers are able to put down as little as 3% with some programs. So if you don’t have a ton of cash saved up, don’t worry! There are still options available to you.

Myth #2 – Interest rates are historically high

While interest rates are currently rising after hitting all-time lows in recent years, they’re still inline with the historical average. The current rates have created opportunities for buyers that could not compete in the aggressive market Portland experienced in 2020-2022 due to the unprecedented low interest rates. In other words, now is still a great time to buy despite higher rates. Please reach out if you would like to chat in more depth about important factors to also consider when deciding if now is the right time for you to buy a new home.

Myth #3 – It’s better to buy a home without representation 

When you purchase a home with representation, you have an experienced real estate agent by your side who can help to guide you through the entire process and answer any questions that you may have. From helping you find properties that fit within your budget to negotiating price and inspection items on your behalf—an experienced representative will always have your best interests at heart throughout every step of finding and purchasing your home. They can also provide invaluable advice when it comes to making decisions about inspections, title work, and other important steps in purchasing a home. Having someone on your side is essential for achieving success when buying a house.

Myth #4 – You Must Sell Your Current Home Before Buying a New One

If you own a home and are looking to upgrade or downsize, there’s no rule saying you have to sell your current home before buying a new one. In fact, many people choose to buy their new home first and then list their old one afterward. This gives them more time to find the right buyer and get top dollar for their old home instead of rushing through the process and leaving money on the table. However, this strategy isn’t without its risks since it requires being able to carry two mortgages at once, which can be tough on your budget. If you go this route, make sure you speak with a trusted lender and real estate professional beforehand so they can help ensure you’re making the best decision for your unique situation.

Myth #5 – Offer less than you’re willing to pay, so you have room to negotiate

This myth is perpetuated by TV shows and movies where buyers lowball sellers with an initial offer way below the asking price in an effort to leave room for negotiation. But in reality, this strategy rarely works since many Portland homes are still receiving multiple offers and when they do not there are still many factors to consider when determining what your best offer is.  If you really want the home, start with your best offer right from the get-go because you may not be given an opportunity to amend.

Now that we’ve busted some of the most common real estate myths out there, we hope you feel more confident in your journey toward homeownership! When in doubt, always consult a professional who can provide guidance specific to your situation. Our team has over 30 years of experience and is focused on serving our community with integrity, empowering and educating future homeowners. If you have questions please reach out, we would love the opportunity to connect.

 

New Proud Ground Homeowner!

Posted on by Nicole Chavira

🌟 CONGRATULATIONS NEW HOMEOWNER 🌟
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I have to give a big shoutout to my friend and client Earle for achieving his long time goal of home ownership! The cherry on top is this was a Habitat of Humanity condo with Proud Ground. Proud Ground is a non profit providing homes that are permanently affordable for first-time homebuyers.
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Earle went through a lot of hurdles and extended closing with a great attitude and stayed committed to his goals.
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I am so grateful when I get the opportunity to support people through the journey. Thank you for giving me the opportunity to get the job done for you!

Sticking With it Pays Off and My Clients are SO Happy!

Posted on by Living Room Realty

Congratulations to my sweet clients! 

What a dream working with these dear humans (and their cute kitty)! 

These two began their search just before the pandemic. Back when the market was vastly different and right before the pandemic and low-interest rates had their big effect on the market. I loved working with them, getting to know them and seeing homes together. We looked at a lot of homes over the years, wrote some offers and took a couple of breaks from searching while the market went nuts. Luckily these two had a strong sense of what they wanted and even though they lost out on a few homes along the way, the one they bought in the end, is definitely the BEST one with the best quality for the price! I’m so happy for them!

If you have questions about neighborhoods, the real estate market, buying or selling a house etc, let’s sit down and talk. My aim is to establish trust and serve you with warmth and attentive communication. I love to engage with new people and listen carefully to their needs and goals, then throw all my energy into helping to achieve them!

First-Time Homebuyer Tips

Posted on by Living Room Realty

Howdy y’all! Queer realtor Río Palomares here with some tips on how to get into the real estate market as first-time homebuyers. First-time homebuyers make up for the majority of my clientele (fellow queer community as well, hello!). Go ahead and take a gander, will ya?

 

Hot Tips for Homebuying

 

  • Find a realtor

Working with a realtor who will dedicate their time by advocating for you is key. Not all relationships are a good match; the same applies to working with a realtor. Take your time in finding someone that will help guide you in one of the biggest steps of your life! It’s never too early to get the ball rolling; creating a housing plan with your realtor will only prepare you that much more.

  • Saving money for a down payment and other expenses

Savings? Who is she? Saving any money you can towards a down payment will help substantially in the long run. Beyond a down payment, you can expect to pay closing costs (a percentage of what you are financing) and for any inspections conducted in your housing process (such as a general home inspector). So, how can you save? This is a personal big one for me; I know how hard it is to not order takeout or delivery but try to cut down on any excess spending and you will be amazed at how much you can save in just a matter of weeks.

  • Find a lender to get pre-approved

Chat with a few lenders to shop for the best rate. While you’re doing this, it is great to ask any questions you may have in regards to the financial aspects of this journey (they are the experts after all!). If you’re looking for lender recommendations, your realtor will typically have a few local lenders to refer you to.

  • Credit score

Yeah, that one number that just won’t seem to go away is indeed a key factor in this process as well. If you suspect you have any credit score issues or need to raise your score, working with a lender sooner than later is vital. A lender can help advise you towards the right path for success.

  • Ask all the questions. Seriously.

Please, ask away! Whether it’s your realtor, lender or vendor, we would much rather you ask any questions to ensure you have a complete grasp of this process. It is your potential new home and we want you to feel good about this moving forward! Makes sense, right?

These are just some base steps to take as you gear up for getting into the homebuying journey. Homebuying is much more thorough and dialed in to your specific needs once you’re fully invested in it. If you’re feeling ready to dive in, connect with a realtor (like me!) sooner than later. Best of luck y’all, you’ve GOT this!

2022 Was a Very Good Year

Posted on by Alyssa Isenstein Krueger

 I am in the bizzyness of selling houses to good humans in Portland, OR. In 2022 I had the pleasure and privilege of selling 27 magnificent homes to the best buyers and sellers in the world, including a handful of folx who bought and sold, or sold and bought. I work by referral only, and after working as a real estate broker for 15+ years, I have the divine fortune of being able to choose to only work with good people who I adore. For those of you who have worked with me over the past 15 years, and those of you who have referred your friends, family and colleagues, I am thankful beyond belief. Goodness gracious I am one lucky duck.

2023 Is the Year!

Posted on by Veronica Powell

If 2023 is the year you plan to Buy or Sell, now is the time to plan and prep.  The first step is to decide on the team of experts to get you comfortably and successfully through this process:  your Realtor and/or Lender.

 

Selling

Now is the time to talk with your agent about market prep.  The right market prep can lead to a quick sale at favorable terms, even in a market that is…on the slow side.  Inventory levels are still low and Buyers still want the house with the beautiful photos that is (or appears to be) move in ready.  A good agent can help you achieve that goal.

 

Buying

Now is the time to find the right lender.  In a market with higher interest rates, a Lender that is open to a creative approach to your financing might be the way to get you the most for your money.  A lender that has a solid financial background, as well as being a mortgage originator, is the best approach here.

 

Bottom line, it’s not too early to start planning for a Spring or Summer move.  NOW is the time to get ducks in a row to make this transition as smooth as possible.  I’m happy to help with market prep, contractor referrals and lender referrals.  Let’s chat!

 

Veronica Powell

503.936.3475

Veronica@LivingRoomRE.com

A Pad in Parkrose for First Time Homebuyers, Tia and Ryan!

Posted on by Living Room Realty

Buying your first home is no easy task, but you wouldn’t know it with Tia and Ryan, truly ideal buyers from beginning to end of the buying process. They knew what they wanted and trusted our team to guide them to the finish line on securing a sweet townhouse in pretty Parkrose! It had been sitting on the market within that sweet spot of just enough time – but not too long – and wrote an offer that put them in position to not have to put every last penny into their down payment. Not only were we able to get them a significant seller credit upfront (to save them on paying closing costs) but we also worked closely with their lender, Tristen Hunt of The Tristen Hunt Team to get them a rate buydown that keeps their mortgage payment affordable!

The cherry on top was successfully negotiating an additional credit towards siding repair and a BRAND NEW ROOF as we head into the rainy season in Portland.

This is what taking advantage of this market is all about!

Congratulations, Tia and Ryan (and Shelby and Ollie!), we are so ecstatic for you and we hope you enjoy your new home!

Cost comparison: the long-term financial implications of higher interest rates

Posted on by Jessica LeDoux
Is investing in a home now financially favorable? Recently one of our favorite lenders, Steph Noble, sent around this helpful comparison:

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As always, buying longevity in your home is going to give you the most bang for your buck. When looking at the long-term trajectory of the market combined with today’s lower home prices and increased buyer opportunities, there is still a strong case to be made for purchasing now.

Selling During A Market Shift – A Good Story

Posted on by Living Room Realty

It’s no wonder so many people are nervous to sell in a stabilizing market when we are being bombarded with articles titled: “The Fed is Killing The Housing Market”(CNN), “Here’s How Weird Things Are Getting In The Housing Market”(Bloomberg), and “Mortgage Application Plummets.”(NBC)  But we can assure you there are still good stories out there, and you’re about to hear one.

Veery had the opportunity to work with Leigh a few years ago to sell her home, and we were delighted to get the opportunity to work with them again!

Raymond and Leigh were ready for a change. They had just begun a new chapter in their lives together and part of this new chapter was a new home. They decided to sell their custom-built 2017 home and our team, Current Dwelling Group, had the amazing opportunity to help make this happen.

Raymond + Leigh read the same headlines and articles. We asked if this made them worried going into the preparation of selling their home.

“My main fear was that the house would be sitting throughout winter. If we had not followed the advice from Veery and Jason and did the work to make the house super sellable we might have experienced that, but being well prepared and understanding the market position made a big difference in not being subject to that negativity. And the marketing plan pulled in the right people.” – Raymond

Right away we focused on gathering the right information for Raymond and Leigh to know where their home stood on the market and what was an ideal and attainable goal.

“Jason did a great job at looking at comps to help us optimize our position in the market. That was great! Veery is great at keeping us informed and giving us a heads up on potential wrinkles and making them feel so small. ” – Leigh

We got our plan together on how to make this house shine and emphasize it’s strengths. “We knew the house needed some work, but I didn’t realize that the painting, yard work and touch ups would end up looking this great. I didn’t understand the need for a fence, but you all did and it paid off!” – Raymond

Our greatest joy in listing prep is gaining our client’s trust and then blowing them away with the results.  We have spent decades building up relationships with high quality, reliable vendors. Each and every one of them are incredibly skilled in their craft. Each of our vendors put their special touch on this house to get it ready for market. Not only did they pull it off, they made the home shine the way it should!

 

 

The home went live on October 6 and within a 3 days we had multiple serious and competitive offers. An offer was accepted 5 days after going live and a closing date set in 2 weeks time.

 

There are good sales happening right now during this market shift.

Having successfully sold their home during this shift, we asked Raymond + Leigh what advice they would give someone on their home selling journey:

  • Raymond “find someone you can trust and trust them.” 
  • Leigh “If you don’t have someone. Call Veery!” 

Here’s to you, Raymond + Leigh! Thank you for putting your trust in us and allowing us to serve you. We loved working with you both and hope this new season of life is full of peace and joy.

A Thanksgiving Story

Posted on by Kat Gilpatrick

 

A thanksgiving story — not in a traditional, seasonal holiday sense with turkey and stuffing and finding enough matching place settings for all the folks trundling  your way, but one of some of the dearest clients: maybe-buyers I had the wonderful good fortune to meet in a lovely home I had held open in September, located smack dab in the neighborhood they’ve been rooted in together for years – they’d lived just a block away from there “close enough to get to Salt & Straw very quickly” being one of the qualifiers on location as it would turn out. Meeting these two immediately warmed my heart and enriched my life, setting us on a journey to find a solution together for the challenge they were facing: repair their current home, or search for something new to close a difficult chapter for them and move on from the loss and heartache brought on by a house fire Christmas eve 2021. They lost their cherished home they’d poured so much time and energy into. While they were originally planning to rebuild, they saw the above mentioned home in their neighborhood, OPEN HOUSE sign out front, and somehow that rekindled the sense that they could find something new to love and grow into.

While they didn’t end up getting that home, it was the jumping off point for a relatively quick adventure where we partnered and listed, we toured and talked, Lauren and Rafe, and their sweet chihuahua Ruby with them at times, at times (most times) on their bikes, and so much faith that the right thing was going to be out there for them, that would meet their requirements and also give them space to do what they love so much: woodworking in a wonderful space for Rafe to continue to practice this craft, and a garden in which they could both tend to the gorgeous yard — and get backyard habitat certified!

The Next Chapter

Working excitedly together, we found a contender for the perfect home in the Richmond/SE Portland neighborhood location as they wanted most – a home quite a bit bigger than they thought they might need, and older than they were considering — but with so many creative uses for the space, on the perfect street and situation and just such a solid wonderful house – their hearts and minds were won.  Built in 1899 and so lovingly maintained by a family that had begun their lives there back in 1966.

 

Their soon to be new home had a story – history, and a feeling of permanence and stability.  The home felt right and conveyed the kind of care and earnestness I’d come to know and love about this incredible couple. And of course, the neighborhood makes this area so meaningful for them to live in because of community as well as familiarity. As Lauren described to me: “The night of our house fire we were surrounded by neighbors providing us food, clothes, and support. This is such a caring community, and we want to stay in this area and reciprocate the kindness our neighbors have shown us.”

These two are getting married next year, and hoping to expand their family beyond them and their small dog. I can’t wait to watch them grow and move and thrive and add so much to our already abundant community. So thrilled for them as we say congratulations on their closing this November, and a very very grateful Thanksgiving.

 

✨Lake Oswego Idyllic Living

Posted on by Living Room Realty

Idyllic Living In Lake Oswego! 

1451 Greentree Circle, Lake Oswego, Portland OR 97034

Offered at $950,000

4 Bed 3.5 Bath

Portland, OR 97034

VIEW LISTING

OPEN HOUSE Saturday (11/19) FROM 10 am – 12 pm 

1451 Greentree Circle, Lake Oswego, Portland OR 97034

Stunning Home In Desirable Lake Oswego, Beckons You Into This Bright, Spacious Home With Plenty Of Space To Entertain. Remodeled In 2018 And Well Maintained, This Expansive One Level Home Features High Quality Finishes With Designer Touches, Form Following Function, An Open Floor Plan, The Skylights Allow Natural Light To Pour In From Every Angle. Move-In Ready, Newly Painted Inside! 4 Bedrooms, 3.5 Bathrooms. The Grand Kitchen Features Quartz Countertops, Stainless Steel Appliances, Built-in Wine Cooler, Deep Set Kitchen Sink, And More. This Large Kitchen Makes This The Ideal Home For Hosting! Primary Ensuite Oasis Has Heated Tiled Floors And Soak Tub. Cozy Up To The Indoor And Outdoor Fireplaces And Hot Tub. Excellent For Entertaining! Peaceful And Private Backyard Includes Large Yard Space, Storage Shed, Extra Parking For Your Boat Or RV. Create Elegant Seating On The Deck To Enjoy The Beauty Of The Pacific Northwest. Option To Join And Walk To The Greentree Community Heated Pool. Easy Access To Downtown Lake Oswego, Lake Oswego Country Club, Lake View Village Shopping Center, Whole Foods, New Seasons, Lake Grove Shopping, Restaurants, And More!

OPEN HOUSE Saturday (11/19) From 10am – 12pm

OFFERED AT $950,000

4 BEDROOM | 3.5 BATH | 2,328 SQFT

2 Attached Garage | Lot Size: 0.26 Acres

MLS# 22197451 | TAXES: $8,133.47 (2021)

Highlights & Features

  • Freshly Painted
  • New Landscaping
  • Brand New Carpets
  • Gourmet Kitchen
  • Mud room laundry room
  • Built-in Wine Fridge
  • Two Sided Fireplace In The Kitchen
  • House Is Pre-wired For Cat 5 Wiring
  • Remote Controlled Window Treatment
  • Kitchen Faucet With Touch Technology
  • Heated Tile Floors in Primary Ensuite
  • Smart Thermostat
  • Newer Roof 2018
  • Private Outdoor Space
  • Shed In Back
  • RV parking
  • Exterior Hot and Cold Water Spigot
  • Fresh Landscaping
  • Outdoor Fireplace
  • Hot Tub
  • Epoxy Finished Floors In Garage
  • WiFi Enabled Garage Door
  • 6-Setting Shower Head In Primary Suite Under Heated Tile Floors

With interest rates rising, is now still a good time to buy?

Posted on by Jessica LeDoux
This is the big question on many buyer minds right now. While interest rates have risen considerably, this does not equate directly to it being a bad time to buy. It all depends on your circumstances and perspective. 
 
If you are deciding to buy vs. rent, buying a home may still be a great option. Purchasing a home can have the advantage of providing security/stability and if financing your home, it will allow you to spend your monthly payment toward an investment you can see a return on in the future. You will also be creating an opportunity for building equity as home values increase over time. Markets will eternally fluctuate. If you buy smart (prioritizing your needs around the unchangeables of a home – location, layout, etc.) and intend to hold your investment for some time (5+ years), riding the waves of the market is much more feasible and most importantly, you can enjoy the home you love in the meantime. 
 
Rates are high, that’s undeniable, but it’s also important to keep in mind that current rates are in keeping with historical averages. (Interest rates since 1971 average in the mid 7’s.) 
 
The climbing interest rates have put downward pressure on pricing, which we see evidence of in increased opportunities at all price points. This can look like: more room to negotiate, an opportunity to come in closer to or below list, less aggressive terms, and with a decreased number of buyers in the market, less competition. However, there are still a good deal of motivated buyers in the market and we are still seeing competition for highly desirable homes.
 
Most homeowners refinance their home in the first 3-7 years. The rates today are not something you have to view as a marriage, but the home you buy is. Higher interest rates are just one factor in the process of deciding whether now is the right time to buy for you. 
 
As Real Estate professionals, we aim to help each client elevate all questions by providing more perspective and information on the options available to them. The result is a more informed decision no matter the outcome and this team excels at supporting people in that process.  We are here to help.

What it takes to make the dream come true!

Posted on by Living Room Realty

Hello!

I am pleased to say, I have had the privilege of helping the most amazing clients this year and I love my time with them. One thing folks don’t always consider when they are getting started, when either buying or selling a home, is how many people it takes to make a great experience in real estate. I am here as the dedicated advisor and through the years I have met many great inspectors and contractors. 

I am happy to connect my clients with as many contractors and specialists as needed, along the way. 

For example, I love working with a steadfast, smart, and grounded home inspector like Uli Sommers with Sommers Home Inspections. And my go-to Escrow officer, Steve Skare my go-to Escrow officer at First American Title. 

Now, here is the eye candy; a few of the cute houses I’ve helped my clients buy and sell this year.

 

 

7 Investment Properties In 4 Years!

Posted on by Living Room Realty

Maria and James came to America with a big dream, to build generational wealth. They began their graduate studies and started learning about the powerful role real estate plays in building wealth.

If you get the pleasure of meeting Maria and James, one thing you will know immediately is that they both value excellence. It’s no surprise they applied their standard of excellence to their real estate education by pouring over free courses, podcasts, reading blogs, and books, and talking to other investors and homeowners. They actively went out and sought education and this year, they made their 7th investment property purchase in the last 4 years!

Crypto, S&P 500, and Index Funds, this is probably what you think of when it comes to investing. Why real estate?

“We feel that real estate is less volatile than the stock market. We also feel that we understand Real Estate investing more easily than active stock investing and it’s important to understand what you are investing in!” – Maria & James

As local and long-distance investors they understand the importance of creating a solid screening system. They screen their properties and their real estate agents. This is key in building a solid team.

“Before we are active, we build a system to do our screenings more effectively. We have two major criteria we focus on: Macro – the broader local economy, employment, population growth, landlords, etc. and the micro-neighborhood numbers, down payments, etc.” – Maria & James

All these factors they consider when they plan on investing in a property. Now, to choose the right realtors for the job.

Building a good team with clear communication is pivotal in real estate. Maria and James had a list of qualities they look for when it comes to choosing a Real Estate Agent who would help make this dream a reality.

“My friend was talking about her experience in purchasing her first property. She bought her first home with Kristin and Jason. She shared the entire process and I could see Kristin was a good realtor. My other friend said they want to buy a home and I recommended Kristin to them even without meeting her.

I have worked with multiple agents throughout my 7+ transactions. Kristin and Jason are the VERY BEST Real Estate Agents among them. They are on top of things. I don’t have to keep track of my realtor. One thing I feel they are very strong about is communication. Communicating with us and negotiating with the seller is so important.” – Maria & James

This project was especially important for Maria and James as it would become their primary residence.

This newly built community checked all their boxes: close to parks for their family outings and bike riding, multiple entrances for house hacking, a shift in their portfolio, and they got to take part in the design process!

Having an adorable, young son, they are already thinking and planning on how to include him in the investing process and stretch his vision for his life.

“We learned that we need to make money work for us instead of us working for money.  Encouraging Casey in the investing process is a priority. Talking about our strategies with him, ask for his involvement and thoughts, and explain to him our thinking process, these are some ways we are teaching him and will continue to teach him. Having a mentor would have been great for us, and we will be a mentor for him.”

– Maria & James

If you have any interest in investing like Maria + James have this is their advice to you:

“Bigger Pocket podcast. Start listening to the podcast. Dig into their website. They have some real estate investing books. Most impactful  for us – long-distance real estate investing. That book helped us with our investing strategy. Look for agents who have these good qualities that you will read about in these books.”

– Maria & James

When asked what they would do differently if they could start their whole investing journey over again with the knowledge they now have, they responded

“Real estate and investing are very relational. You need a good team. Now, we have learned to pick good team members – agents, lenders, etc When choosing a good realtor look for someone who communicates, listens to you, and does things correctly.”

– Maria & James

Maria + James, thank you for choosing us as your real estate bodyguards and for giving us the honor of being part of your journey in investing. We have loved getting to know you and your beautiful family. May this new home provide you with joy, quality family time, and even more growth. You are a powerful family and we can’t wait to see what you build! Thank you for being an inspiration, not just to us, but to all those who know you! 

Charming Troutdale: Gateway to the Gorge

Posted on by Veronica Powell

With so many people now working from home, on a more permanent basis, escaping the city to live a little closer to nature becomes a more viable option.

Troutdale is a charming town that can make that dream a reality. Located  just 30 minutes from downtown Portland, with easy access to shopping, nature , arts and entertainment, this “Gateway to the Gorge” may just be the charming town you’ve been looking for.  Your favorite  weekend hikes may not be just for weekends anymore!

If you’d like to know a little more about escaping the city life for a quieter option, I’d be happy to explore your options with you.

Veronica Powell

Veronica@LivingRoomRE.com

503.936.3475

 

 

Nice Knowing You Quarter 2 of 2022

Posted on by Alyssa Isenstein Krueger

My seller’s homes!

Between March 1st and June 30th of 2022, the real estate market here in Portland saw appreciation rise at a rate not seen since, well, ever. Over 20% year over year. Despite the challenges of the market, particularly being a buyer,  I had 10 buyers and 5 sellers successfully close on homes- all on the east side in the City of Portland. Of those buyers and sellers- 2 sellers were able to buy first and closed in March, and then sold their homes April and May. Another of my sellers was able to sell their home and buy their next one within a couple of weeks in June.  Six of my buyers were first time home buyers, and 1 of my sets of buyers purchased the home they had been renting directly from their landlord off-market. Lucky ducks. Of my 10 buyers, 7 got the first home they wrote an offer on, 2 got the second house they wrote on and 1 set got the third and best house they wrote on. The total number of homes I wrote a total of 14 offers. The youngest house I sold was a 1960 rancher in Parkrose Heights, and the oldest was a bungalow in the Richmond neighborhood built in 1912. Three of the houses got new roofs, 2 got new sewer lines, and 2 had leaking oil tanks- all of which were taken care of by the seller.

My 5 sellers did really well. Four of my sellers received multiple offers, and the fifth set of sellers accepted the first offer they received which was well over asking and submitted less than 24 hours after we went on the market. Of the 5 homes I listed, 4 were ones I had originally sold to the sellers. Bringing it full circle. Of my five sellers, 3 bought new and larger homes in Portland, and 2 moved out of state.  The youngest house I sold was a condo built in 1972 on Jantzen Beach. All the other homes were built between 1906 and 1953. None of my sellers made any repairs, and only 2 gave closing cost credits/concessions for needed repairs. I sure know and love old houses.

My buyers homes!

Everyone of my clients was either a past client of mine, or a referral from another previous client, a friend or lenders I partner with.  Fifteen transactions in 3 months is a lot for little old me who doesn’t have an assistant and doesn’t want one. Those are probably at least half the  number of transactions I’ll have the honor of working on for the entire year. So much joy and happiness to be surrounded by.

Preventing Buyer Remorse in a Competitive Market

Posted on by Jessica LeDoux
In a competitive market, having frenzy take hold and light fire under a buyer’s decision making is a true risk. Not only does a low inventory market promote a sense of “there’s not enough” that can create a survival mode mentality, but it fosters an environment of uncertainty that can lead buyers down a “don’t want to, but feel like we have to” path. If buyers succumb to the frenzy or are not partnered with wise and stable counsel, this can manifest as buyers offering over what they can comfortably pay for a home, settling on areas of a home that don’t line up with their core values, and investing in inspections unnecessarily on a home that ultimately will not be the right fit. We try to instill a sense of empowerment and stability in the midst of uncertainty. The reality is that nothing is certain, but what we can control is how we respond. 
 
Here are a few simple tips: 
 
1. MAKE A LIST of the top three things you do not want to compromise on. There is no perfect house, but if you are able to hone in on the areas you are willing to compromise on and take the time to get in touch with your non-negotiables, this will make for a more empowered search and you will feel clearer on when to walk away. If you are buying a home with someone else, make these lists separately, then discuss where your lists overlaps and make a new list together. 
 
2. THE FINANCIAL GUT CHECK. This can be difficult because the reality of the market, your needs in a home, and your financial comfort all need to be considered and valued collectively. Taking the time to see if what you want in a home lines up with the reality of the market is step number one. There is nothing worse than chasing a unicorn to the point of disappointment months later. We will provide support as you test the waters and get a sense of what homes are within reach so you can make an educated decision for your life and financial future. If what you are seeing in the market at your price point lines up with your needs, we can move forward with realistic expectations and healthy boundaries around when (if ever) it makes sense to stretch your price point goals.
 
3. BUY LOCATION AND LAYOUT. Remodeling a kitchen is easier than moving a house. When we say “buy location,” we mean buy a home in a location you will be happy living in. Even if walkability is not one of your priorities, liking your neighborhood is important. This may seem obvious, but many people have fallen in love with homes in otherwise undesirable locations only to find themselves wanting to move a few years later. If you like where you live, you are buying longevity in the home. Simple as that. Of course, we need to balance this against your tolerance for home improvement, but the bottom line is paint can always come later. Likewise, it is much easier to change the cosmetics of a home than it is to change the layout. Look past the aesthetics to the fundamentals of a home’s layout to see whether it has the potential to meet your housing needs for years to come. 
 
There is a lot of news right now about the instability of the housing market. While the market will always fluctuate, if you buy a home that can adapt to your life long-term if needed (regardless of your short-term plans), your satisfaction with your home and investment has a greater chance of outliving any market volatility. 

Just Right in FoPo!

Posted on by Olivia Rush

Step aside bears…this Goldilocks has found his house! Last year, Devin told me he would be in touch with me soon about buying a house. His epic rental in NE had been the home of countless gatherings and parties, but he felt it was time to make the move to SE, where the majority of his community lived.

Having grown up helping his parents fix up homes, Devin wasn’t afraid of a fixer. He also was a sucker for classic charm and vintage details, so we found ourself looking at a wide variety of homes.

House 1 was a beautifully remodeled farmhouse with a cute backyard in Lents. Devin loved it and went back for a second viewing, bringing friends with him to share in his excitement. This was at the very beginning of the spring selling season, and about 20 other buyers also loved this turnkey home…so his first offer was beat out.

Next up, another Lents home, but make it major fixer on a huge lot. We had to fight and claw our way to this one as second backup, but we finally got our offer accepted. After inspections, however, it became clear why the other two buyers had terminated. In addition to some bigger known repairs, there were also too many unknowns that made taking on this project too risky. Sadly and a little deflated, Devin had to terminate.

For a minute, Devin took a break from the search. Riding the real estate roller coaster can be an emotionally exhausting process. But he kept one eye peeled, and when the *just right* cosmetic fixer in FOPO (his secret dream neighborhood) hit the market, we were ready.

Just 1 block away from some of his besties, this structurally-sound, plain-jane home was the perfect amount of project. This time Devin was determined, and We just barely beat out 4 other offers with some key strategic terms.

Fast forward to closing day. Devin has a list of to-dos and a neighborhood full of friends (including me!) welcoming to his new home. I couldn’t be happier for him and excited to see him work his magic to make this house a home.

Cheers Devin! Welcome to homeownership and to the neighborhood.

Beating Out 20 Other Offers!

Posted on by Living Room Realty

2021 and 2022 have been strong seller’s markets. Some Buyers might feel like they would have to look way outside of Portland if they had a budget. But that’s not the case. Although many homes have been selling for 100K+ over the listing price, there are gems throughout this city and in prime locations that can fit a first-time homeowner’s budget.

Brian and Kristin wanted a home close to SE Portland. It’s a great location and highly sought after. Many buyers were finding it difficult to find a home in this neighborhood unless they wanted to spend over 500K.

Brian and Kristin took this investment and decision seriously. We got to work culling through possible homes they could call their own. It took almost a year to find the right home for them. It can be a tough fight to win out on a home. The competition is fierce and sometimes you might not get the first home you put an offer on. That happened in this case. We sought hard, fought hard, and even though Brian and Kristin were beaten out a few times, they had persistence and positivity on their side.

One home came up that created a lot of completion. 20 offers were submitted on this home.  Brian and Kristin were not intimidated and gave it they’re all.

We got selected as the backup offer and when the 1st position buyer pulled out (due to the inspections report) we got bumped up to the first place. We negotiated to get the inspection reports right away; this is where real estate’s teamwork shines. We are so grateful to have a powerhouse of contractors we have developed relationships. We were able to get estimates on all the repairs very quickly so that we could negotiate for a buyer’s credit that would strongly benefit Brian and Kristin.

With a sizeable credit that allowed Brian and Kristin to not only get the home they want but also repair it to top standards, they walked away champions!

Brian and Kristin, we are so impressed with your positivity, enthusiasm, and cleverness in handling this journey. You were a joy to work with and we are honored to have been chosen to be your real estate bodyguards in this market.

Cheers to you both!

Will My Contingent Offer be Accepted?

Posted on by Living Room Realty

This past weekend, I hosted an Open House at a well-maintained Milwaukie home. The home boasted a superb location, single story layout and thoughtful upgrades. To say there was good turnout from buyers is an understatement!

To my amazement, most of the home shoppers were looking for their next home without having sold (or listed) their current home first. When you put in an offer on a home that hinges on you successfully selling your current home, it is called a contingent offer.

The insanity that was the 2021 Portland housing market meant that buyers making contingent offers on homes were consistently turned down over non-contingent offers. With fewer moving parts and less risk for the sellers, non-contingent offers were favored in an extreme seller’s market.

Fast forward to today – there is some shifting in the market, and there’s a *small* amount of wiggle room for contingent offers. Still, it’s important to remember how crucial strong financing is in getting your offer accepted.

Seller’s agents are looking out for their clients by asking for proof of funds from buyers offering cash or large down payments and pre-approvals from lenders to minimize the risk for their sellers. If a contingent offer is accepted, they will most likely require you to list your home by a certain date (if you haven’t already), place you in “Bumpable” status (meaning the seller can accept a different offer if one comes in), and even put a deadline for when you need to accept an offer on your current home.

If you plan on making a contingent offer on your next home, I suggest you have a solid marketing plan for your current home already in place. Start working with a real estate agent now, so you can hit the ground running if your offer is accepted!

KEEPING THE ALBERTA ARTS ARTISTIC

Posted on by Living Room Realty

Keeping The Alberta Arts Artistic

Chaz wearing the most fabulous outfit accompanied by a fancy champagne bottle in front of his new house on Keys Day™️
Now this is how you show up to keys day!

I knew this home was special when I laid eyes on her; a stunning red Craftsman beauty whose walls have more stories to tell than I ever possibly could — eager and waiting to be lovingly restored. I am so glad this home landed into the illustrative and loving hands of the very talented tattoo artist, Chaz Vitale. If there is anyone with the proper eye and admiration of architectural design, it is Chaz. The amount of queer magic and love being poured into this home is absolutely immeasurable and I am beyond ecstatic to have had any part of it. We connected in more ways than one, coming from the same marginalized communities of being queer and trans people. I deeply believe this made our experience feel more bonded and emotional at that. Chaz, thank you for bringing your necessary artistic flair to the Alberta Arts District. You are needed here and I am so dang proud of you!

I can only aspire to continue to build connections with more BIPOC, queer, non-binary, trans, etc. clients in the future. Curating connections in our communities is vital to both my business and, well…my soul. My role in real estate is to advocate for all of my clients but especially those that come from similar backgrounds and share familiar life experiences. I am so grateful to have the trust of my clients in an industry that hasn’t always held our best interests; rest assured, I, Río Palomares will advocate to the best of my ability and ensure you get the representation you not only seek but deserve.

 

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The Battle For the Hidden Jewel

Posted on by Living Room Realty

Fixer-uppers, many tv shows today make these types of homes seem extremely attractive. But it takes a very specific type of person to commit to these hidden jewels. Chris and Kelsey were growing their family. They needed more space, a yard for the kids to play in within Portland, and a home with a little extra love needed so they can put their creative spin on it.

They had a set budget and list of desires. There aren’t many homes coming onto the market, so when one comes available it usually gets multiple offers rather quickly. This can cause the price to jump dramatically. When we are representing Buyers, we fight to keep the price point very close to their budget.

The goal was a “diamond in the rough” type of home. Diamond = central location, great yard space, good schools, etc. Rough = the home needs a bit of love to be at its prime.

They wanted to be a part of building and designing the home. Adding their special touch to the property where they would be raising their adorable children.


Mortgage rates also were going up, this has buyers in a frenzy trying to find the right home while still taking advantage of the currently low rates. Each home we saw ended up with multiple bidders and running up the price a little (or quite a bit) too much.

During this process, they sent us a listing that looked very familiar.  We ended up knowing the seller and the home very well and knew this was the jewel they were searching for. We jumped at the opportunity to put in a great offer with good terms.  This can sometimes make the deal even more attractive than a larger number as the price point.

And we got that call all home buyers want to get, “Your offer has been ACCEPTED!” This call is one of the best parts of the process. Buying a home can be an emotionally stressful time. This beautiful family treated each interaction with kindness and clarity and for that we are truly grateful.


Chris and Kelsey expected the inspections to turn out a whole list of work needed on the home. But, it turned out a much smaller list than was expected which was a HUGE win! We love to see you win!

We loved working with Chris and Kelsey who are wise and kind people. They were curious about the process and trusted that we would provide them with the best resources and find the perfect home together.

Congratulations Chris and Kelsey! We are so grateful to have been part of this journey with you! We hope this home provides your family with the perfect space to build many joyful memories. Cheers!

They Geared Up for Battle, And Won Twice.

Posted on by Living Room Realty

Andrew + Alice are a dream team. They contacted us over 3 years ago in regards to purchasing their next home. They wanted it to be a good investment and so they started dreaming, planning, saving, and angling themselves so that they would be in a great position when the time came to buy their home.

Initially, how could we use our position to our advantage? A fixer-upper? Most of the homes we saw were in pretty bad condition and would take a lot of energy and effort to be livable. This would end up being cost-prohibitive. So, we changed tactics. They still wanted a fixer-upper but it had to be livable. One day they sent me a home they thought could possibly work. The minute we saw it and read through the specifics we knew this house would fit them like a glove. We had to get to work. The type of competition out there could discourage some buyers, but Andrew and Alice knew we could compete. So we fought. Multiple offers were sent in on this house. Some higher than ours. But, Andrew and Alice understood the importance of strong terms and that the terms you put forth as a Buyer could be even more attractive to the Seller than a larger purchase price. Andrew and Alice were clear in their communication. Their positioning was so attractive to the Seller that they ended up getting in contract!

 

When finding a fixer-upper, inspections can be a nail-biter. Unfortunately, the inspections showed us that this house needed more repairs than we initially thought. Andrew and Alice did not quit. We geared up for our next battle and got a great team behind us. One of the best parts, with help of quick estimates from our incredible contractors, was that we were able to negotiate an amazing buyer’s credit! They won both battles and got the home they dreamed and planned for. And to you three, we raise our glasses! You fought hard, persevered, and kept the optimism of your dream alive during the process.

 

Congratulations Andrew and Alice! Opal now has a beautiful home to grow in. We are thrilled for your family! Thank you for allowing us to join you on this journey!

How to stay safe and be successful in a market that demands so much of buyers

Posted on by Jessica LeDoux

The reputation of Portland’s real estate market often precedes itself. In many ways, the market is as it appears – we have historically low inventory (if no new homes were listed, our inventory would be depleted within two weeks), housing prices are rising, and there is a large buyer pool fueling an overall competitive environment. All of this can land as fear in the heart of a hopeful buyer and spur reasonable questions:

 

Will I be forced to take uncomfortable risks in order to have my offer accepted?

If I buy in this market am I at risk of paying over market value?

Will I be able to compete?

Is now still a good time to buy?

What should I expect from real estate representation?

 

The answers can be nuanced and unique to each individual person, but one thing we aim to inspire in all buyers is empowerment around choice, rather than a “when the competition says jump, you say how high,” mentality.

Will I be forced to take uncomfortable risks in order to have my offer accepted?

It’s true that there will likely be scenarios where competition is fierce and what it takes to win a home may stretch a buyer’s comfort. But this should always be viewed as a question mark (Is this the home to fight for?), rather than a demand. We want to nurture a foundation of security by way of education, supporting buyers in honing in on and prioritizing goals, and setting clear expectations so when “the one to fight for” does come around, buyers can respond with less reactivity and instead can feel rooted in their well-rounded understanding of the market and commitment to their own individual needs. Our ultimate goal is aiding buyers in honoring the right decision for them.

If I buy in this market am I at risk of paying over market value?

Often market value is conflated with appraised value. In short, market value is determined by how the market responds to a home. This is the amount buyers in the market are willing to pay. Appraised value is a bank’s assessment of risk. There are times when these two numbers are farther apart, which is often the case coming out of winter when early spring sales have not yet closed and the less fervent winter market is providing the bulk of the comparable sale stats for appraisers. This can also be the state of things when an influx of buyers outpaces rising home values – or in other words, population growth and demand are moving at such a clip that appraised values seem to be one step behind. Consequently, we are seeing appraisal gap coverage (the willingness to pay the difference between the appraised value and offered price) become increasingly commonplace within offer terms. When a buyer is bridging an appraisal gap, they are paying the same price they offered for the home, but are taking out a lower principal loan. In essence, the cash to close is higher and the loan amount is less.

Will I be able to compete?

We never want to squash dreams, but we try to arm buyers with realistic expectations. The fact is that aggressive offer terms do exist in the marketplace: variations on partial or full appraisal waivers, inspection waivers or limitations, earnest money releases, etc. These decisions are at each buyer’s discretion and if one or all of these terms do not feel comfortable, it is still important to know what you could be up against. It is also important to keep in mind that even in a highly competitive market, there is still opportunity and often buyers end up purchasing homes in scenarios that are compatible with their level of willingness to compete.

Is now a good time to buy?

It can be heartbreaking when a buyer feels as though they are chasing the market. The reality is that rising housing costs have priced some first time homebuyers out. Often, buyers that have stepped away and are now returning to the market are faced with the question: Do I adjust my expectations around what kind of house I can buy with the money I have or do I no longer want to be a buyer in this market? We want to counsel buyers away from the experience of chasing a unicorn only to emerge disappointed months later. For many buyers, kicking the door down, getting into their first home, and beginning to build equity will take precedence and expectations will adjust. Others will determine that stepping away from the market serves them more. Both are valid choices and both decisions come with their own risks. Investing in real estate has always carried some uncertainty and although many signs point to continued value increases for Portland’s homes, the bottom line is we cannot predict the future and the weight of investment risk is not one size fits all.

What should I expect from real estate representation?

Counsel – No matter the archetype of the buyer, this is an important and emotional process. Finding an agent that hears your needs and adds value to your process is imperative.

Honesty – Your agent cannot pick your home for you, but they can frame realistic expectations on what type of home you should be targeting for success. This process should be educational and interactive. No matter what we hear at the water cooler or from trusted sources, there is NO better way to understand than to be directly and actively involved in a process focused on your needs.

Negotiation – Getting an offer accepted is not based on price alone. There are many components to an offer that add strength. Having an agent who understands this and can educate you is critical in this seller’s market. Our team spends a lot of time preparing and educating you on the process so that you are ready to act fast and have had time to evaluate what tools are safely at your disposal.

Presentation – Crafting the right offer is complex, but the presentation is just as critical as the terms offered. Our team has a stellar reputation in the Portland marketplace, and we have earned this by working at a high level of integrity and with respect for the co-brokers we get to work with. The presentation of your offer sets the tone for the entire process and we want the first impression of your team to be as leaders of the industry.

The Conjuring Of A Mid-Century House With A Pool In Happy Valley

Posted on by Alyssa Isenstein Krueger

 Back in 2011 I met one of my very favorite buyers ever, Mel.  She worked with the Portland Housing Center and had $9,000 to from a matched savings account through Portland Housing Center. She used that $9,000 for a 5% downpayment on an oh so very vintage 760 sf 1920’s bungalow in Arbor Lodge that she bought for $180,000.

Fast forward to 2021. Mel is now married to Ryan and they are resource parents for kids in need and through the processes, have adopted 2 amazing kids with a third in the works. And all 5 of them plus a pup and a kitty were living in the oh so very vintage 760sf vintage 1920’s bungalow in Arbor Lodge. To say they were busting at the seams goes without saying, and yet they were able to take advantage of every nook and cranny to make the most of their tiny space. They contacted me to formally declare that it was time to move and buy a bigger house. At first they thought they needed to sell first then buy because they didn’t have a lot of cash on hand for a down payment on their next house, but they sure had a heck ton of equity in their little bungalow. I visited the house last fall and after seeing how packed the house was- packed but tidy and clean!- I told them I there was no way they could  think they could sell first then buy. They needed to move out to make the little bungalow shine.  Mel’s little house that she put $9,000 down on had more than doubled in value since she purchased it 11 years ago. Their best option was to get an interest only HELOC (home equity line of credit) on their bungalow and pull out as much cash as possible and use that for the down payment on the next house, then sell the Arbor Lodge bungalow. And because Mel bought the house so long ago for so little, their current mortgage payment was less than rent on most studio apartments in Portland. It took a few months, but by the end of January, the HELOC was funded and they had a pre-approval letter on hand.

After living in North Portland so long, Mel and Ryan longed for a big house with an even bigger yard for their young family to grow and spread and run and live.  They knew that to get what they wanted on their budget, they most likely would need to move to the suburbs. A day or so after all the financing pieces came together, Mel and I met up at a house in Happy Valley to begin the search. From the photos, she wanted to love the house, but after visiting the house, it was clear that this was definitely not the one. After I locked up the front door we stood around on the street in front of the weird house and talked for a quite a while. We talked about their ideal house- which would be a mid-century, room for a hot tub, big enough for bedrooms for everyone plus a separate kid play area from an adult living room and home offices/art studios for both Ryan and Mel. And to really hit the mark, if it had a swimming pool- that would be divine. We decided that we would conjure this house and it would appear. Because that’s the way the universe works when you are Mel.

I got home and lo and behold mere hours after that conversation a house popped up on the market that fit the bill EXACTLY and it had a pool. The conjuring worked full stop. I made an appointment to see it that same evening, and this time Ryan was able to join us. The mid-1970’s split level house had street presence perched up on a hill with a large and tasteful fountain beckoning at the bottom of the stairs up to the house. We went inside and these two were LIT UP with excitement. It was literally perfect for them and had a gorgeous view of the west hills and the all important pool. The sellers weren’t looking at offers for another 5 days, so that gave Mel and Ryan time to think about how badly they wanted the house and how much they would be willing to fight for it. To rule out any other areas, Mel and I went to a couple of houses in Beaverton, but after seeing the Happy Valley pool house, any other house was a disappointment. On  Saturday, 5 days after the pool house came on the market, they went back to the house for the open house and took the kids. After that visit, there was no question in anyone’s mind that this was THEIR house. There was some intense last minute negotiations including bumping up their offer twice to beat out other buyers, their well presented and solid as a rock offer was accepted by the sellers- and it wasn’t the highest of 6 offers on the table.  The house inspected like a dream, closed on time and Mel and Ryan are planning out their future in the dream house with the pool.

Just Listed: Magic on Madison!

Posted on by Tracey Henkels

JUST LISTED

4513 SE Madison Street, Portland, OR 97215

Offered at $675,000

4 Bed | 2.5 Bath | 2,100 SF | MLS# 22113057 | Taxes: $8,714

OPEN HOUSES:

Thursday 2/24,  4 PM – 6 PM

Sunday 2/27,  11 AM – 1 PM

VIDEO TOUR

You will be smitten with this delightful 4 bedroom, 2 and a half bath modern home just north of Hawthorne Blvd! The modern and convenient features will make for easy living, and with a bike score of 100 and a walk score of 94 you’ll be central to some of the best of what Portland has to offer!

The front porch has room for hanging out and people-watching on summer evenings. Inside to the right you’ll find a sizable entry area with large windows, built-in bench & cubbies, and gleaming hardwood floors throughout the first floor. To the left is an office/den/media room with so many options.  

As you proceed into the heart of the home, there is a spacious and open dining room, perfect for dinner parties! Moving through this open concept plan, you find yourself passing a perfectly placed bathroom as you move into the living room and kitchen. You will easily be able to see yourself relaxing in the living room, flooded with natural light and a cozy gas fireplace!

Efficiency meets elegance in the masterful kitchen! Take in the stainless steel appliances, gas range, and glistening tile backsplash, as well as the ample amount of quartz countertops that doubles as a breakfast bar. Don’t miss the huge walk-in pantry with tons of extra storage, more counter space and electrical outlets!

Head up the open staircase and you’ll find a balcony with more room for lounging and enjoying the outdoors. The primary bedroom is spacious, with large windows allowing for a lovely light-filled space, and be sure to check out the walk-in closet! The ensuite bathroom has a roomy and luxe walk-in shower with tile & glass doors and granite counter vanity. The other two upstairs bedrooms have great natural light coming in and good-sized closets!

The layout of the home is truly ideal, complete with lovely outdoor spaces, lots of storage, and a tuck-under garage. The location is enviable – you are just a quick walk from Hawthorne restaurants and shops, head the other direction and you have trendy SE Belmont bars and hot spots!

 

This home is a real treasure – don’t miss it!

One and DONE!

Posted on by Jessica Ward

As many of us know the market in the Portland metro can be a bit hectic for buyers. Fortunately, when your able to dial in with your realtor on specific needs in conjunction with a timeline that can ease much of the stress and pressure of the market.
CONGRATULATIONS again to my wonderful clients- The Mejias on closing their first home!
They were open, upfront and honest with me about their needs/wants. With active listening and clear communication we were off to the races together.

In just ONE short week we were able to find the perfect home, put an offer in and have it accepted! Yes, the market does move fast, which is why it pays to be properly prepared and have quick feet so to speak.

JUST LISTED: Arbor Lodge Beauty

Posted on by Tracey Henkels

JUST LISTED

6947 N ATLANTIC AVE, Portland, OR 97217

Offered at $775,000

4 Bed | 2.5 Bath | 2,430 SF | MLS# 22124079  | Taxes: $6,203 | 0.23 Acres

OPEN HOUSES:
Friday 2/11,   4 PM – 6 PM & Saturday 2/12,   9 AM – 11 AM

VIDEO TOUR

Come see for yourself just how much space, charm, and value this house has to offer! Brimming with updates and charm, plus an oversized yard, you’re going to fall in love with this gorgeous home! Upon arrival, a roomy front porch, beautiful garden beds, and mature landscaping greet you.
As you enter the living room, you’ll find a flood of natural light coming from the large front-facing windows, lovely classic wood molding, high coved ceilings, and the ideal open floor plan. The adjacent dining room boasts lovely leaded glass windows and box beams, a true vintage dream. While this home maintains much of its original character, the updated kitchen has a Wolf gas range, stainless steel refrigerator, disposal, dishwasher, and granite counters. And the far end of the kitchen opens nicely into a light-filled breakfast nook – perfect for enjoying your morning coffee! 
Just off the main level living area and tucked to the side you’ll find a darling bedroom that looks out onto the backyard, along with a full bathroom with walk-in shower.
The layout on the second level is ideal, with a charming light-filled primary bedroom, big east-facing windows, two skylights, a ceiling fan, and a large walk-in closet with closet organizers. A spacious second bedroom sits adjacent to the primary bedroom with great natural light from south-facing windows, plus a ceiling fan and closet. And rounding it off is the roomy full bathroom with a large soaking tub, two adorable pedestal sinks, huge stand-up shower, pretty blue tiling, and charming vintage windows with leaded glass. A perfect space to relax! 
Make your way back downstairs and just off the kitchen you’ll find a mudroom area with exterior entry to the backyard. A staircase leads down into the large finished basement, where the flex space provides so much opportunity. Easily imagined as a guest bedroom, a TV/family room, an artist studio, a reading den – there are endless options! Don’t miss the permitted half-bathroom and laundry area, and of course, tons of storage space! 
Head out the backdoor and check out how much space there is to play and roam! The yard is huge, the landscaping is mature and includes a gorgeous Deodar cedar tree, plus an adorable lean-to shed with an additional covered area and plenty of patio space so you can enjoy the outdoors in any kind of weather. 

Don’t miss the fabulous enclosed hot tub and oversized garage with attic storage and work space.

There is plenty of space for RV or boat parking!

This gorgeous and inviting bungalow offers an abundance of living space, plus so many delightful features! The home is close to many parks, cafes, shops, and grocery stores. Welcome home!

SE Portland Dreams Come True!

Posted on by Living Room Realty

One of my favorite things about being a Realtor is helping people buy their first home.

It brings me so much joy to see people embark on their journey into homeownership and creating longitudinal wealth.

Meet Corey. I’ve known this lovely human for about 15 years and he has often thought about buying. Even though he has a great job he wasn’t convinced it was possible to do on his own. Working with a local credit union Corey was able to secure a zero down loan. It’s not the easiest thing to have a zero down loan accepted in this competitive market, but we were able to get into contract with our second offer. After inspections and negotiations we also got a new roof and enough credit to cover ALL off his closing costs and a home warranty!

Today we picked up the keys, went inside and immediately pulled up some of the carpet to inspect the beautiful hardwood floors hiding underneath. With a little bit of sweat and some paint this house is going to be completely transformed from grandma’s house to a stunning midcentury ranch. The large yard will be the perfect oasis for Hank, the very strange little cattle dog, and the perfect place for outdoor hangouts this summer.

I’m so excited to watch this journey and filled with gratitude that time and time again I am trusted to help people start their next chapter.

The One That Nobody Wanted

Posted on by Living Room Realty

My last closing of 2021 was probably the easiest transaction I’ve had in a long time. My clients were looking for another rental to add to their profile, so when we saw a winner in Beaverton, we stood in line, knowing it would be competitive and hoping we could make things pencil out. Once we saw the property, we almost laughed, but we were really breathing a sigh of relief. The house didn’t show as well as the photos (do the ever, ha ha?), it smelled bad and I don’t think the seller even moved the frying pan from the stove with his leftover breakfast. Why were we relieved, you ask? We knew we could have little competition, at this point. Combine a savvy client and a savvy (if I do say so myself) ME, whaddya have? Deal makers! We offered. We got. We negotiated. We got more. The end.

What I’m realizing in this highly competitive market is that buyers are getting weary of over-spending on properties that aren’t absolutely turn-key, and I don’t blame them. Not everyone has the vision or the resources to take a property from ick to slick, so when the timing is right and you find a house that hasn’t been marketed well, or just plain cleaned up, that is when you find opportunity. To battle a seller’s market and get a client into a house for under market value (yet, it appraised for $15k over), I consider that a win, and I’ll take it! Great way to finish out 2021. Bring on 2022!

The Power of Being Prepared

Posted on by Living Room Realty

Derrick and Sarah first reached out a few months ago to learn more about the home buying process.  We connected on a mutual Facebook group after hearing that I had helped several other folks from the group get into homeownership. 

They’d already been in contact with the Portland Housing Center and scheduled their first home buying class when they began reaching out to lenders, realtors, and home inspectors in advance of beginning their home search. We completed our new buyer consultation and agreed to circle back after they had been through the Portland Housing Center’s ‘Home Buying Program’.

 It’s never too early to reach out if you’re interested in buying a home so you can learn about any obstacles that may come up prior to purchasing. Working with the Portland Housing Center and an experienced agent helped Derrick and Sarah understand what they needed to do to secure a great first home for themselves and to lay day roots in Portland. 

Once they completed their ‘Home Buyer Education Program’ and got their pre-approval squared away,  they were ready to begin shopping.  It only took a few viewings before they found a listing that they adored. Understanding the market conditions and the home buying process, Derrick and Sarah quickly swooped in on a home they loved.

The buying process went smoothly from beginning to finish. Being prepared, understanding the home buying process in advance, and having all their ducks in a row prior to looking at potential properties definitely helped make this process as smooth and easy as could be. I couldn’t be happier for these two, and I am wishing them many years of happy memories in their new home.

Forget the view — this home has a root cellar and solar panels!

Posted on by Erika George & Kari McGee

CONGRATULATIONS to Thea and Angel who just closed on their first home together as a couple!

Thea and Angel are lovely souls with many interests and talents! Among them are 3D printing, beekeeping, historic car restoration and soap making! We were tasked to find them a house that was just right for their varied hobbies and skills. When we found this darling Tudor in Gresham, we all pinched ourselves, as it was truly “just right.” It has a great floor plan with an option for one-level living and ample space for entertaining and all of their varied hobbies. It has a modern open kitchen, a basement with a root cellar, a large garage for shop work, an orchard for bees, and raised beds with an irrigation system for gardening. AND, best of all, it boasts a wonderful back deck that Thea and Angel can use at the end of the day to relax and take stock of their handiwork.  Did we mention that there are solar panels on the home and garage which allows them to sell back to the grid during most months?  What a jewel!

Congratulations Thea and Angel — we are so happy for you and can’t wait to experience the products of your talents! Do you have some very specific needs when it comes to your next house?  We can help you find the perfect one — Call us!

Clarity of vision

Posted on by Jessica LeDoux

Like so many folks, Emily and Alex’s work shifted dramatically during the pandemic. With their physical location being less of a priority, they opened up their minds to the possibility of relocating. Having visited Emily’s cousin in Portland and loved it, it was top of the list. Emily and Alex are both people that make things happen and they decided to get the ball rolling by planning a trip to get into a few homes and explore the city. On their trip we toured a home that was quite simply, just what they were looking for. They acted with clarity and decisiveness in presenting an offer and found a delayed possession plan that worked for all involved. We are so excited to welcome them to the city and their new home!

Renovations Done Right

Posted on by Jessica LeDoux
Jon loves to restore older homes to their original glory, with modern amenities. He is a true craftsman.  He called a few months ago saying he was ready for another project and the search led him to a great home to restore.  His projects are a labor of love that allow him to share his skillset in retirement, and he would commonly say he needed a project to get him out of the house and keep him busy.  We cannot wait to see what Jon transforms this house into.
Jessica + Karim

Moving closer to grandkids and family! Yay!

Posted on by Tracey Henkels

Congratulations to Mark and Mary Jo!!

I just had the privilege of helping Mark and Mary Jo buy a wonderful condo! I met them because their son, Chad, is one of my dearest clients and Mark and Mary Jo wanted to be closer to Chad, Libby and the Grandkids. This is truly one of the best parts of my job- helping families stay connected or become closer. 

We were able to find Mark and Mary Jo a wonderful single-level condo in a sweet Hillsboro location and it checks all the boxes! It was a great transaction and I would like to take this opportunity to point out that when we help clients buy condos we highly recommend they do a review of the HOA docs with an attorney. As real estate agents, we cannot give legal advice so an attorney is integral to deciphering all of the HOA documents, rules, budget etc. In this case, we used Janet Grayson from Grason Law because we have worked with her many times and we know that she is thorough. This was such a big help to Mark and Mary Jo, as it is for all of our clients buying a home within an HOA. Thank you to Janet!

Congratulations and Cheers to Mark and Mary Jo! Here’s to building new memories with your sweet grandkiddos!

Brooklyn Blue Bungalow

Posted on by Alyssa Isenstein Krueger

My buyer Theo wins the award for the single most expensive repair I have negotiated for a buyer. Theo was a first time buyer who was referred to me by a past client of mine who they work with. We met up on a chilly fall evening to talk about what they were looking for in a house and get the process started. Within a couple of days, Theo had their pre-approval letter in hand and we were ready to go. I sent them all of the available homes within the geographic boundaries, price range and features they were looking for. The list wasn’t very long and out of all of them, only 2 houses piqued their interest. We went to see one in NE, and that was a no-go.  The second house we saw was bright blue 1920’s bungalow in the Brooklyn neighborhood. It had been on the market for about a month and had one sale fail. The home was lovely with a gigantic newly remodeled kitchen and a large upstairs bedroom with room to add a bathroom. The basement was decent enough with lots of windows and good ceiling height- a great candidate for future finishing. Theo slept on it and the next morning let me know they wanted to write on it. We put together a great offer and boom- got it accepted.

Most of the systems had been upgraded so I wasn’t too worried about the inspection. However, during the inspection our inspector did a few pokes at the foundation walls and the foundation just crumbled into sand. In the 1920’s during the huge housing building boom there were two concrete companies operating in Portland and those two companies provided all of the concrete for  house foundations built during that time. One company had a better concrete formula and many of those foundations are still in reasonable shape. But the second company didn’t quite know how to mix concrete very well, and those foundations are showing their age as they reach the end of their useful life as seen in the crumbling foundation walls. This basement had been skim coated on the interior at some point, but in areas like behind a built in workshop and under the stairs, the tell tale signs of a rapidly deteriorating foundation were all there. For most buyers, that would have been the end of that and they would have terminated. But Theo really loved the house and location, so they took the next step and hired a structural engineer to come out to take a look so they could make a decision to either move forward with the transaction or terminate. I had a great conversation with the listing agent about the issue, and thankfully the sellers understood this wasn’t a repair they could put off if they wanted to sell the home.  Thankfully the engineer was able to come out and made the determination that the foundation really was on its last legs. She told us there were 2 ways to approach a new foundation- one way was to lift the house and pour a brand new concrete foundation. This route is prohibitively expensive- costing in the $80k-$100k range. The other option is to have an engineered wood wall built. With this method, an engineer designs a wood wall that is built in the basement up against the old concrete foundation and embedded in a new interior concrete footing and attached to the framing of the house. As long as the engineered wood walls are kept dry, which involves rubber matting between the old concrete foundation and the new wood one and making sure the drainage system around the home is effectively channeling water away from the house, the new wood foundation can last indefinitely. And because it’s wood, it has give so also provides better seismic protection than old concrete foundations. The old concrete foundation stays in place, but it no longer functions as a support for the house. And the new foundation gives the basement an almost finished look.

We wound up doing 5 inspection extensions to get the engineer to have the drawings ready before closing, and to get a firm bid from a contractor to do the work after closing. Closing was delayed by 10 days- but we did it! Due to the whole supply chain, dearth of availability of contractors, etc., the work can’t be done for a while, but that’s ok because the contractor has already been paid and stated that they will complete the repair within the next year for the stated bid amount. The cost for something like this obviously depends on the total linear feet and some other factors, but in general, this type of repair will cost in the $35,000-$60,000 including drainage, which is a whole lot of money, but about half of what it would cost to replace the foundation with concrete.

Dreamy Storybook Craftsman

Posted on by Living Room Realty

This storybook Craftsman greets you with a large vaulted front porch and is surrounded by a quiet and serene yard. The deck delights with treetop views and is perfect for entertaining. 9’ ceilings and gorgeous stone fireplace create a feeling of comfort and warmth. The kitchen boasts fabulous cabinet colors and new stainless appliances. Two bedrooms on the main level, the larger is suitable as an owner’s suite with coved ceilings, a sitting area, and a walk-in closet. Heading to the lower level you’ll find the oversized owner’s suite with private entrance, full bathroom, and walk-in closet. Great contender for possible ADU conversion, check with the county. The remaining portion of the lower level contains a full workshop with workbenches and storage. This home is only two blocks from the river, yet is out of the flood zone. Close to dining, shops, and transit. Quick drive to downtown PDX!

Just Sold: Woodburn New Construction for First Time Homebuyers

Posted on by Living Room Realty

JUST SOLD

1070 Kennedy St, Woodburn, OR 97071

LISTED AT: $399,000 | SOLD AT: $400,000

3 BEDROOM | 2 BATH | 1,302 SQFT
MLS# 21573099 

Persistence pays off! I first met Marcus when he choose to intern at my previous brokerage. He had recently graduated college and wanted to explore some career paths for himself. He was an incredibly bright young man at the time with the world in front of him. He opted not to go into real estate, and decided to pursue a career with a finance company.

Fast forward to the fall of 2020, in the midst of the pandemic,  when he approached me about finding a home for himself and his family. He was now married, and the father of a young daughter. They wanted to find a place for their family to grow and call their own, but desired to keep their budget to under $400k. We began their search in the Portland Metro area, but ran into limited inventory, questionably habitable homes, or Townhomes which had HOA amounts or special assessments that made their price point lower in order to keep they monthly payments the same as a detached home. We wrote offer after after, only to lose out over and over.

Still Marcus and his wife, Maddeighy, remained undaunted. We keep looking, slowly expanding our search out to Hillsboro and Beyond, Newberg, deep East Portland, and finally South towards Woodburn. What you got as you went out was not much better, but at least there were more options. We keep searching through the Winter, Spring, and into the Summer, when they informed me that they were expecting their 2nd child and really did need space for 4. They were due in November, so we hoped to be in contract on something before their new daughter came. They hunt progressed.

We finally came across some new homes that were under construction in the Woodburn area. Marcus works in Wilsonville, so the commute was not that bad in comparison to some of the deeper east and west areas we had looked at. There were 3 properties all under construction, all for sale, with 1 of them pending. They pounced and we wrote an offer, in the hopes that the home would be as envisioned when they were all complete. This was a leap they had to take, as there was no flooring, countertops, appliances, concrete outside, or landscaping done when we viewed it. They decided it was better than most other things they had seen, and after a few negotiations with the listing brokers on the minutiae of the sale, we were in contract.

New construction is an exercise in patience, and despite writing our closing for 45 days (we were told they thought they would be done in 30 days), nothing is ever as planned. At 45 days, we were told the final building inspection by the county still needed to be completed, and no Certificate of Occupancy would be ready, so we pushed out a week. 1 week lead to 2. 2 weeks turned into 3. We hoped no more delays would occur, and thankfully, the day before  Thanksgiving we were given word that the Final Inspection had occurred, the building permit had been signed off on, and Certificate of Occupancy had been issued. The day had arrived, and despite the hope that they would have a home ready to move into before their 2nd daughter arrived, they would be now have a home for her and her sister to grow up in and call their own.

Cheers Marcus, Maddeighy and Family, I hope that you make many lovely and wonderful memories in your new home!

 

When you know what you want, the rest just falls into place!

Posted on by Tracey Henkels

Congratulations to David and Clara!!

Some folks just know what they want and it happens fast! This is definitely true in David and Clara’s case. This fun couple came to our team via my teammate, Jasmine Deatherage. They reached out, ready to start the process. We chatted briefly and I knew we were going to not only help them purchase a home but also have fun in the process! We scheduled our Buyer’s Meeting- a meeting we have with all buyers before we get started. We go over the buying process, what to expect in the current real estate market and how our team works. It’s pretty much a requirement for all of our buyers. 

But hey… that meeting didn’t even happen!! Right after we scheduled our Buyer’s meeting, a fantastic home in a fantastic location popped up and they wanted to jumped on the opportunity! Things started rolling along and we just filled in the blanks as we went. David has bought a few homes in his life so he was familiar with the process. 

And now, they own this darling home! The home has so many great updates, a fantastic layout and solid bones! Congratulations, David and Clara!! We are so excited to see how the kitchen remodel turns out.

Congrats to David and Clara!

How to Get An Offer Accepted Before An Open House

Posted on by Alyssa Isenstein Krueger

Sarah and Tariq contacted me in early August after being referred to me by one of my favorite lenders. They used to live in Portland, and had moved to Los Angeles for work, and were now being transferred back to Portland. They were moving to Portland in mid-November, so they came to Portland in mid-October to find a home. Before they arrived, we had a flurry of emails back and forth narrowing down homes they wanted to see.  They seemed to really hone in on mid-centuries and when we came up with our list of homes to see over the next few days, the majority were mid-centuries.  They arrived on a Thursday evening, and we hit the ground running on Friday morning. We saw around 12 houses together over the next couple of days, and they saw even more homes on their own visiting open houses.

They did write on one home, but when that home received another offer that was higher and waived their inspection, Sarah and Tariq decided they didn’t love it enough to go that far. With 2 days left on their clock, they started leaning towards writing an offer on a house they didn’t love, but felt it met their needs and after buying it, they could fix it up to their liking. They wanted to be under contract before they flew back to LA and I think they were ok with settling for a less than perfect house for the sake of being able to leave Portland having a house under contract.

While they mulled that house over, a house came on the market in North Tabor that seemed like it could be the one. We immediately went and saw it and both Sarah and Tariq just beamed and they knew within 20 steps into the house that this was the one. It had a classic living room with fireplace, formal dining room and vintage kitchen that looked almost brand new. Two bedrooms on the main floor and one up plus a semi-finished basement. The house had a tuck under garage as well as an oversized double car garage behind the house. One of the things that was on their must have list was a garage for their motorcycles, and this house had the perfect set-up for their bikes. They loved it and decided on the spot they would take the home as-is and waive the inspection contingency. The home was an estate and prior to going on the market the seller pro-actively replaced the sewer line, did a radon test and had soil samples taken and the tank decommissioned. The home was a well built 1951 classic with a foundation built like a tank, but I could tell that the roof had at least 3 layers including the original wood shingle roof, it needed plumbing updates, both the furnace and water heater were ancient and the chimney had seen better days. I put together a list for Sarah and Tariq with repair estimates for all the issues based off very recent bids for similar work. After going through those numbers, it all felt pretty manageable budget wise.  They decided they would go the distance to get this house, and the sooner they could get it under contract the better. 99% of the time I would never advise a first time home buyer to waive the home inspection contingency, but in this case it made sense considering the potential big unknowns, sewer and oil tank, were already taken care of and Sarah and Tariq were dying to get the house.

The house was scheduled to have an open house on Sunday, and Sarah and Tariq wanted to get this house under contract before then. We wrote up a great offer that was over asking, waived the right of revocation, ordered the appraisal on day one, did a 26 day close, released the earnest money upon acceptance by the seller and waived the home inspection contingency.  I would never advice a buyer to release their earnest money right away, but they were so sure that this was their house that when they asked what else they could throw in to hopefully get the seller to accept their offer right away, that was the really the only thing left. When we submitted the offer on a Friday night, it was as watertight as could be.

The next day, on Saturday, the listing agent called me and said the seller was so pleased with Sarah and Tariq’s offer, that she decided to accept it  right away and they canceled the open house scheduled for Sunday. Sarah and Tariq flew back to LA on Sunday knowing that when they drove back to Portland in November, they had a house waiting for them. Even though they waived the home inspection contingency, they still had the home inspected so they would be able to prioritize repairs and know what they were getting into. Thankfully the home inspected like a dream, and pretty much everything I said would come up in an inspection as an issue, came up, and overall the house was in terrific shape. The house closed on a Thursday, and on Saturday morning Sarah and Tariq arrived in Portland with their pup a rented mini-van full of plants and the glow that comes with having the satisfaction of getting keys to their dream home.

 

This party is just getting started!!

Posted on by Tracey Henkels

A big congratulations to Jessica, Michael & Family!

Welp, it happened again folks. I had the privilege of working with fantastic clients and now I want to adopt them! Or, at least have them over for dinner :).

Jessica and Michael were referred to my teammate, Jasmine, and they were such a delight to work with. They came to us looking for a home in inner southeast Portland. They were moving from an area with limited walkability so location was very important to them. We did end up finding a lovely home in a great location but after a hard inspection, we sadly had to move on and look for a different home.

…And I’m so glad we did!

We found the cutest, most special home in Ladd’s Addition for the family! Everything about this purchase was wonderful and full of good vibes! I wish every buyer had the chance to experience a purchase like this one. Jessica and Michael are so head over heels for the neighborhood they have convinced Jessica’s parents to move here to enjoy all the goodness they are experiencing. We are looking forward to working with her parents and hoping for the same kind of magical purchase!

 

 

 

 

Photo credit for photos of the home: Jack Burnett

Embracing what’s tangible

Posted on by Jessica LeDoux
Rebecca and Nate were in the market for their first home and knew they wanted to live in N or NE Portland – aside from this criteria, they went in with open minds, willing to investigate homes in varying conditions in their price range. As they honed in on what works for them, it became clear that size was not a priority. Minimalists by nature, they felt drawn to smaller spaces with some charm. This flexibility was hugely advantageous as they looked in a highly competitive price range. With commitment and realistic expectations on their side, the right house emerged and to top it all off, they got it UNDER LIST. We are simply thrilled for them.

Remembering what buyers go through…

Posted on by Jessica LeDoux

Even real estate agents have to be buyers in this competitive market. My husband and I toured on a Monday afternoon and upon entry knew this was the perfect house that we had been waiting for. We drove away and I was hopeful that it would be a late season non-competitive situation… That hope quickly faded when I checked in with the agent.  She was already expecting about six offers and had set a deadline only hours away for all offers to be submitted. I quickly went to work and delivered a competitive offer, but learned only a little bit later that she had received 21 offers in full. We had little to no hope left, but did still amend our offer to try and make it stronger.
The stars aligned and we got the call at 8 PM that night that our offer was accepted! It was a good reminder of how slow the minutes pass as you await news! Never give up because it’s not always the sales price it’s the whole package… Terms matter!

Congrats on Your First Home!

Posted on by Living Room Realty

Congratulations to my first-time buyer clients, Dennis and Sam, for closing on their new home! I am excited to see you settle into your new place, and look forward to seeing you make improvements to make the home yours! Thank you so much for your trust and support to guide you through this process.

Yes, the market is competitive

Posted on by Jessica LeDoux
We set out to find Emma and Kushal their new home in NE Portland almost a year ago.  We toured many homes, many were ruled out, but a handful were a great fit.  Their first offer was financed with a large down payment and very competitive terms, but they were edged out by a higher cash offer.  This story repeated itself a few more times and a backup position was offered on all.  After continuing to lose to cash they decided to convert to cash as well.  Confidence was reset and we moved forward weathering the lack of inventory and limited options that fit their needs. They were ready to compete when the right one hit the market, only to find that this price point was flooded with cash and buyers willing to pay well over market value.  We lost a couple more times and the heartbreak was setting in, but we kept the candle lit and patiently waited for it to be their turn.  This long hard journey led them to an amazing home with features NO other home had offered, in a spectacular location.  I am so happy for them and know they are going to LOVE their new home.  Patience and perseverance does pay off!
Jessica
Keeping the hope alive.

Setting the groundwork for success

Posted on by Jessica LeDoux

The buying process is different for everyone – some folks have spent large swaths of time researching the market or have lived in Portland for decades, and so have clear perspectives on what areas of town will work well for them. Others are making the leap from miles away, maybe even buying a home sight unseen. What’s most important from our perspective, is that we are working within the parameters that are right for each individual buyer. For Zsofi and Eddy, they began their search after just moving to town and did not have a chance to let their sense of the city and what works for them develop before diving into the deep end. We met them after they nailed down a short term rental and so were able to proceed with less urgency and a keen eye toward what would make sense for them long term. As soon as they were allowed the space to solidify their priorities, they found the house they had been seeking. We always want buyers to travel at their own pace and embrace the process that is right for them as they make the jump toward this exciting milestone.

Apparently cats approach buying a farm very differently.

Posted on by Martin Cross

Buying or selling a home in normal conditions is one of the most stressful things a person can do. Right up there with getting married or moving across the country. Selling one home while trying to buy another one contingent upon the sale of the first takes the stress level up 10 notches. If you run into any friction along the way such as complicated repairs or negotiations, stress levels go through the roof!!

But with experienced, cooperative agents on both sides, level heads on the part of both buyers and sellers and holding onto the idea that everyone wants the same thing, which is to close the deal, we can usually make it to the finish line!

This is exactly what happened to Zippy & Spark. They were selling their North Portland home while also in contract to buy a farm in Washington when extensive and complicated repairs were discovered in the inspection process. Getting bids from contractors and finding one with the available time to start the work quickly raises the level of stress and possibly increases the time it can take to close the deal. Thus, possibly putting at risk their ability to close on the farm purchase.

But with my extensive list of contractors to call, cooperation from the other broker who kept her buyers hopes up and especially with encouragement, expert advice and consultation from mine and my sellers friend and Realtor Dale Schiff, along with tenacity on the part of my sellers who dug in and contributed time and effort to get the job done, we were able to get the repairs negotiated and completed in less than two weeks so we could close of the sale on their home and the purchase of their new home could be completed.

Apparently, cats approach buying a farm very differently.

Mid-Century Delight for Delightful Buyers In Kenton!

Posted on by Alyssa Isenstein Krueger

My buyers Annie and Ben were referred to me by one of the great lenders at Portland Housing Center. They were first time home buyers and during our meeting when we met to discuss their plan and get a feel to see if we would be a good fit to work together, we talked about the ideal house for them. They had a really clear idea of exactly what they were looking for and where they wanted to buy. Ben works in Vancouver and Annie works on the inner east side so their ideal house would be in North Portland in Kenton or near I-5. They also wanted something with vintage charm- preferably mid-century, and in good shape that would be easy to maintain. They also wanted a yard and their budget was $400k tops. They were still interviewing agents when a couple of days after we met, I got an email from my wonderful colleague Martin Cross here at Living Room with info on an open house a great listing of his in Kenton was having the next day.  On paper that house seemed to meet all the criteria that Annie and Ben had, so I forwarded the email along to them. They responded that indeed, the house looked like it was great and they could tell I had a really good sense of what they were looking for, and that sealed the deal for us working together.

Annie and Ben stopped by the open house and let me know right afterwards the house was beautiful and perfect for them. I went back to see it with them the next day, and the following day we wrote up a great offer. The sellers accepted and 6 days after we first met they were under contract. We had the inspection and it was going really well, with the exception of the roof which we all suspected was toast. And then we got the bad news. At some point the tub overflow drain line had been disconnected so water had been getting behind the tub for a long, long time. Everything under there including subfloor and floor joists were toast. The rot had worked its way into the wall behind the tub plumbing and had spread out from just under the tub to most of the bathroom. The only real fix was to remove the tub, vanity and toilet, gut the bathroom, and then rebuild the bathroom from the subfloor up. Ouch.

A lot of buyers would have walked at this point, but after a few days of hard thinking, Annie and Ben decided that they still loved the house and felt that if there was a way to have this all fixed before they take possession, they would stick with it. They knew they wanted it fixed, and the last thing they wanted was to get keys to their new house and then have to find somewhere else to live while the only bathroom got rebuilt. The next move was finding a contractor who could do the job within the next month. Between Martin the listing agent and myself, we hunkered down and found a few contractors who could go out there to take a look. The first  company to get back to us bid the job at nearly 3 times what the sellers wound up paying for the same scope of work and said it would take  4-6 months before the job could be completed. In the end, a contractor who the seller had personally used for other jobs said they could get the entire job done within a couple of weeks including mold remediation, and indeed they did. My buyers even got to pick out new flooring and a new toilet.

Despite such a huge repair, we wound up closing only one week late. The sellers are doing a 3 week occupancy after close, so on the last day of the weekend before Thanksgiving, I will have the honor and pleasure of meeting my buyers at the house to hand over keys.

 

What a cute house!

Posted on by Tracey Henkels

Congratulations to Janice and Mic!

I had the pleasure of helping two very kind people buy a lovely home in SW! Janice and Mic were referred to me by a past client, they were looking forward to retiring soon and hoping to find a well-maintained home in a peaceful neighborhood. We found just the place! A lovely home in the Cedar Mill area, perfect for relaxing, close to everything and plenty of space for their cats. So many updates along with an added wing with vaulted ceilings. They couldn’t be happier! 

Cheers to Janice and Mic!!