I helped my buyers Brooke-Lynn and Ivan sell their classic mid-century in Rose City Park back in March. They loved their old 2 bed 1 bath home, but were ready for something bigger and in closer-in NE Portland. When they sold their home they had multiple offers and were able to get a buyer who gave them 2 months of rent-back. Once late May came around, they still had not secured their next dream home, so off they went to stay at friends houses, then AirBnB’s.
In late July what they thought was their dream home came on the market in Overlook, but after a fierce multiple offer battle, they didn’t feel comfortable going as high as the house ultimately sold for. They were sad, but determined to find the next dream house. And then along came a house that had just had a $70k price reduction which put it within their budget. From the outside, for all appearances it was a classic brick one level sprawling mid-century facing Wilshire Park in NE. We went to take a look and inside it was even bigger than it looks on the outside. All of the rooms were huge and airy and one room in the basement was huge with a fireplace, built-ins and 9′ tall ceilings. The house felt 1950’s all over, but the year built was listed as 1920.
While checking out the house we figured out there had been a little 1920 bungalow, but sometime in the 1950’s, someone built a huge mid-century around it on 3 sides. The location across from the park is dreamy, so it’s easy to see why someone built out the house. It wasn’t the perfect house, but by removing a wall between the dining room and kitchen, it was clear that this house could be everything they had been looking for.
The house had originally been listed for $125k more than the new list price, and was now being sold as-is. Brooke-Lynn and Ivan loved it enough to put in an offer knowing that the house needed a lot of work on the systems and mechanics which were all well past their prime. We also knew that it had a terrible looking roof that would need to be replaced and an in-use oil furnace from the 1950’s with an underground oil tank. But even at the list price, it was a great opportunity for someone willing to put the money into it to bring it back. And Brooke-Lynn and Ivan decided they were those people. We wrote up an offer and the sellers accepted it right away.
And then came the inspection. And it wasn’t just the roof and furnace. It was everything- plumbing, electrical, rats, foundation, sewer, an oil tank leak, and more. After sleeping on it, they decided that too much work was needed and to get it up to par would cost in the $60k-$70k range- and that was before any cosmetic work. For the house to work for them, the price would need to be another $75k lower- so $200k under the original list price. We were pretty sure that the sellers wouldn’t go for that, so with a lot of sadness, we terminated the transaction. And then, what do you know, the sellers agent came back to us and asked my buyers what they would be willing to pay for the home. The sellers were older and had health problems, and given the state of the house, they really didn’t want to risk going back on the market. After weighing their options, they decided to come back to us. The listing agent and I scrambled to get bids for everything so my buyers would have an idea of the cost of all the needed repairs. My buyers decided that if the sellers would pay for the roof, do a pest control clean-up and abatement with the help from wildlife control in Houston, and get the leaky oil tank cleaned up and registered with DEQ, that they would be willing to pay $45k under what they had been in contract with. We thought there was no way that the seller would go for it, but go for it they did.
So about 2 weeks after we fell out of contract, we went back under contract, and 2 weeks after that, we closed. During the second transaction my buyers were able to line up all the contractors for the plumbing, sewer replacement, furnace replacement, electrical work, and the sellers pre-paid for the new roof and gutters. My buyers had a fantastic lender- Jake Planton with 2 Rivers Mortgage, who was able to get them an appraisal waiver and revive the dead transaction under the original lock and loan terms. I have never had a transaction where my buyers terminated and we were able to get back on track with terms that were acceptable to my buyers. My buyers had been so discouraged after they terminated on the house, that they were literally a few hours away from making the decision to move away from Portland for the time being. Once my buyers get the house back into great condition by dealing with all the systems upgrades and deferred maintenance, they can move on to the fun stuff including taking down a wall and re-doing the kitchen. I can’t wait to see magic they in store for the house!
Lisa and Matt and their 4 year old son had been renting an apartment in Irvington and were ready to branch out and buy their own home. Their needs were pretty simple- at least 2 bedrooms, cute/vintage, reasonable condition, a yard to play and garden in and relatively close to where they had been renting in inner North/Northeast. And a basement would be the cherry on the top. We looked at a few homes and even a condo that was a condo conversion from a 1960’s complex that was similar to what they had been renting. We found a great home that met all their needs within a few days. A house that had been sitting on the market with no action for nearly 3 weeks. We wrote up a great, full priced offer, and what do you know- someone else decided that day to put in an offer as well. The house seemed to have some condition issues and the other buyers offered a 2-week close, meaning it would be nearly impossible to negotiate repairs, let alone have any repairs done, prior to closing. So when Lisa and Matt’s offer was not accepted, there was a little heartbreak which was quickly dealt with via some condolence vermouth. But then, the very next day, a cuter-then-a-cupcake circa 1940 bungalow came on the market in Piedmont. We went to see it and I could tell my buyers were in love. Given it was cute, well priced, and in a fabulous location, it did receive multiple offers and Lisa and Matt were able to beat the other offers with a super clean offer and a small escalation clause. The inspection revealed a few issues including the need for a new roof, furnace and other old house stuff that was past it’s useful life. Thankfully the sellers were great and we were able to negotiate a fair credit amount and a small price reduction to account for the work needed. And then my favorite day in the whole transaction arrived- closing and key day!
The layout and flow throughout the home is absolutely ideal for a home of this size. Through the hall, you’ll find three bedrooms filled with natural light and ample closets. Also, a roomy bathroom with double sinks and stylish updates.
My buyers Shay and Mike contacted me in mid-April, about a month into quarantine, and a couple of weeks after my last pre-covid transaction had closed. They were living in a rental, had a 2 year old and were pregnant with their second child. Shay had just started a new job but due to Covid she had never even been into the office of her new company. They figured with the second kid on the way, now was as good a time as any to find a new home. They had just gotten pre-approved in mid-April one month into quarantine. We had no idea what the Portland market was going to do. Everything had come to a stand still in real estate and we as a collective body of real estate agents did not know how long the pause would last. Would it be for a couple of weeks? A couple of months? Forever?
Josh and Evayn were referred to me by some great past clients of mine. We met for the first time via Zoom and we talked about the current state of the market and what to expect as a home buyer looking to purchase a home in close-in North or Northeast Portland. I explained how despite the pandemic, real estate was as busy as it’s ever been with nearly every good house getting multiple offers and almost always going over asking. Having caught them up to speed on the state of the market they were prepared for the worst, or at least prepared that it might take a while before they found the perfect house and had an offer accepted. We discussed what they were hoping to find, and they mentioned that they had seen a house listed in Overlook that seemed to check all their boxes. It had just gone pending so unfortunately that was off the table as an option. Or was it?
Kat was referred to me in mid-May by a former client of mine, about two months into the pandemic. Like a lot of first time home buyers, being home all the time with roommates while also running a business had lost a lot of appeal after two months into Covid. Kat is an artist and has developed a successful business selling dice for role playing games and was looking for a cozy vintage home that also had a large enough space to move her business operations into. She also wanted to live as close-in as possible. We looked at a few houses to give her a feel for what was on the market, and nothing was close to ringing her bell. And then like magic, the perfect little 1910 bungalow with a nice front porch and porch swing on the back porch popped up in Creston-Kenilworth. It is sweet as a bell in the sunshine with high ceilings, a true to period re-done kitchen and bathroom and vintage charm galore. And the basement set up is perfect for running her business out of with an outside entrance that will allow her sweet pooch to run in and out of all day long. Like a lot of houses listed these days, it was unfortunately listed under market. In this frenzied market, even buyers with great down payments, over asking offer amounts and fantastic terms are having to write offers on multiple homes before one sticks. I had prepped Kat for this, and so we wrote up a really strong offer and then just bit our nails while we waited for the seller to review the 7 offers they received. Thankfully they did select Kat’s offer. A home run on the first hit for Kat. The sellers had done all the hard stuff so the inspection went well and a month after her offer was accepted, I got to meet Kat at the house to hand over keys.
If you are curious about the market in these times, or are looking at buying or selling now or down the road, I am happy to chat over some socially distanced coffee or tea. Let’s connect!
Cindy and Oscar got in touch with me in what feels like a lifetime ago- mid January of 2020. They were eager to become homeowners, and after having gone through the process of trying to buy a home last year only to have it implode with a very low appraisal, they were ready for a fresh start. New agent (me), new lender (Umpqua) and a new year. They love mid-century homes and were looking for a home that wasn’t in perfect cosmetic condition. They love to garden and were looking forward to having a yard for their beloved pup Cookie. In late February we looked at a a 1960 tri-level in a picture perfect mid-century block in Mill Park. The home hit most of their marks- it was in good enough shape to move into, had hardwood floors, mid-century charm, and a beautiful yard. They also wanted a home that would work for multiple generations for parents to move into eventually and kids in the future, and with the tri-level layout, it had the perfect floor plan for being able to do so. It also needed a face-lift, something Oscar and Cindy actually wanted to do on a home. It had been on the market for almost 2 months, and while it was priced lower than what neighboring homes had recently sold for, it definitely needed some vision and felt overpriced considering how much work it needed. They decided to keep looking and found another great mid-century home in Milwaukie that they loved and decided to put an offer in on. That home had multiple offers and went for way over listing price, so they did not get that house. But all the while, the sweet tri-level in Mill Park kept calling to them. So a little over a week after they first saw it, we wrote up an offer for $25k under list price. The sellers countered back with $20k under list and my buyers accepted.
Congratulations to Sarah, Scottie and Piggers! Thanks to impeccable timing they were able to get $35k in down payment grants through the LIFT program and University of Portland’s down payment program designed to help full time employees buy their first home near the UofP. Within a week of having the LIFT reservation in hand, we found a great rancher in University Park that checked all the boxes including what we thought would be a difficult to find huge detached garage for Scottie’s blossoming contractor business. This was the week before Christmas, and knowing that the LIFT funds expired in 2 months, and that most likely they were not going to see a house that checked this many boxes in their price range anytime soon, I suggested they offer just a few hairs over asking in hopes that the seller would accept their offer prior to the weekend, and it worked! Three days before Christmas they had their offer accepted, which was just 2 days before I left town on vacation for 2 weeks. Thanks to my excellent colleague Lisa Avena at Living Room who took great care of them and handled their home inspection, I was able to enjoy my vacation knowing Sarah and Scottie were being well taken care of. The inspection turned up a few unexpected surprises in the crawl space, but having a contractor buying a house always makes me feel better when a house is going to need some work. Even though the seller (who was also the listing agent) wasn’t happy, we were able to get him to agree to fix the big stuff. And then the appraiser called out some dry rot on the garage. Grrrr. By this time we were in mid-January and the market had clearly turned a sharp corner. In the 4 weeks from when their offer was accepted to the time the appraisal came back, the market shifted strongly into a sellers market with little inventory and a ton of buyers out shopping. The seller was very aware of this, and reminded me a couple of times that he had someone waiting in the wings who wanted the house badly enough because of it’s huge garage, that this supposed buyer would have taken the property as-is. So when I told him that the appraiser had called out that the garage needed to be repaired before the lender would loan on the property, he refused to the garage repaired. This would have been the end for most buyers, but Sarah and Scottie were not daunted. Scottie knew he could take care of the issue himself in less than a day’s work, so we got the seller’s permission for Scottie to fix the issue and Scottie got to work. Between the 35k in funds, finding the right property at the exact right time, and having the literal skills and ability to fix a problem, this family of three were able to close on the perfect house for them.
Upon entering you’ll notice vaulted ceilings and wonderful natural light. The floor plan flows easily into the formal dining room and formal living room, wonderful for entertaining and intimate dinners alike. You’ll love how the living room shines with an oversized picture window and soaring ceilings. Making your way into the heart of the home is the beautifully updated kitchen featuring ample counter space, storage galore and soaring ceilings. A dining nook and breakfast bar help to make this space feel both spacious and inviting.
of Bauer Woods’ best. In the end, the style of this 4,100 sq ft mid-century stunner won their hearts.
With some buyers the journey towards home ownership takes a few more twists and turns then planned. My buyer Sydney had a few bumps in the road along the way, but through luck and good timing, reaped the reward of the perfect house for her.
ed in real estate back in the wonder year of 2007 when I got a job at a non-profit home builder HOST Development. My background was in community development and affordable housing, and my new job at HOST was to do community outreach and sell homes built by the non-profit builder to first time buyers who made at or below the area’s median family income. When I started working at HOST, I was eased into my job by our most fabulous office/computer/everything wrangler Holly. Holly had purchased a HOST home herself, and liked the company so much she was hired as our office manager. Fast forward a couple of years and the Great Recession hit, and being the smart and savvy person she is, Holly jumped the HOST ship when the writing was on the wall, and found a job working for the State of Oregon. I rode that ship out until the last lifeboat left in 2009, and while it was sort of traumatic to lose a salaried job in the height of the recession, the biggest gift that job gave me was the realization of how much I love working one on one with buyers and sellers.
