first time homebuyer Archives - Living Room Realty

Navigating Your Home Purchase: Who’s Who in a Real Estate Deal

Posted on June 13, 2025June 10, 2025 by Will Sing

Understanding the Key Players in Your Home Buying Journey

Buying a home involves several key players, each with a unique role. In this blog post, I’ll walk you through the major roles in a real estate transaction, what they do, and how they help ensure a smooth process. Whether you’re a first-time buyer or an experienced investor, understanding these roles will give you the confidence to navigate your home buying journey.

The Real Estate Agent: Your Project Manager

First and foremost is your real estate agent. Think of your agent as the project manager of your home buying process. Their job is to guide you from start to finish. Here’s what you can expect from your real estate agent:

Scheduling Tours: Arranging viewings for properties you’re interested in.
Determining Comps and Offer Strategy: Helping you understand the market value and craft a competitive offer.
Negotiating Deals: Working to get you the best terms possible.
Scheduling Inspections: Coordinating necessary inspections to ensure the property is in good condition.
Connecting with Contractors: Providing referrals for any needed repairs or renovations.
Resource Direction: Guiding you to tax or legal professionals as needed.

The Lender: Securing Your Mortgage

Next is the lender, who plays a crucial role in securing the financing for your home. They will:

Pre-Approval Process: Help determine how much you can borrow and identify suitable loan programs.
Document Collection: Request necessary documents to process your loan application.
Loan Processing: Guide you through the steps to secure your mortgage, providing clarity on your financial obligations.

It’s essential to work with a lender who communicates effectively and who you can trust. Poor communication can jeopardize your transaction.

The Escrow Officer or Title Company: Ensuring Neutrality

The escrow officer or title company acts as a neutral third party in the transaction. Their responsibilities include:

Holding Earnest Money: Managing the deposit you make when your offer is accepted.
Facilitating the Closing: Ensuring all paperwork is completed and funds are distributed correctly.
Providing Title Insurance: Protecting you against any title disputes.

Home Inspectors: Assessing Property Condition

Home inspectors are like the primary care doctors for your new home. They meticulously examine the property to identify any potential issues. Key tasks include:

Detailed Inspections: Checking structural integrity, plumbing, electrical systems, and more.
Referrals to Specialists: Suggesting further inspections if they find potential problems.

The Appraiser: Determining Home Value

Appraisers assess the value of the home to ensure the lender is not over-lending. They are a neutral third party and you won’t have much direct contact with them. Their role is crucial for:

Valuation: Ensuring the home’s value justifies the loan amount.
Risk Mitigation: Protecting the lender from overextending credit.

The Insurance Agent: Securing Home Insurance

Home insurance is mandatory when buying a home. An insurance agent will:

Policy Selection: Help you choose the right insurance policy for your home.
Bundling Options: Provide options to bundle home insurance with other policies for discounts.

Other Key Players

Additional roles that may come into play include:

Transaction Coordinators: Assist with paperwork and ensure everything runs smoothly.
Home Warranty Providers: Offer warranties to cover potential mechanical issues.
Contractors: Provide estimates and complete any necessary repairs or upgrades.

Conclusion

Understanding the roles of these key players in a real estate transaction can help you navigate the process with confidence. If you have any questions about buying a home or need more personalized advice, feel free to reach out to me. Connect with me on YouTube, Instagram, or Facebook.

For a more detailed consultation or to get started on your home buying journey, schedule a free strategy session here. You can also access my Free Buyer’s Guide to help you through every step of the process here.

Sellwood Endless Summer in this Spectacular Townhome

Posted on May 30, 2024May 30, 2024 by Living Room Realty

Sellwood summer fun out the door in this charming neighborhood. Make every weekend a great weekend in this newer construction townhome. Your morning walk can be the Springwater Corridor, beloved shops and antique stores as neighbors, the *best* coffee and bakeries, restaurants, bike paths, river trails, golfing, Oaks Park, gardens and more, oh my! Bike score 96!

A Backyard habitat certification is underway in the shared garden and chill zone out back. Well-run HOA covers water/sewer and exterior. New washer and dryer convey. Incredibly functional floorplan – this home has welcomed a first time home buyer with roommates, renters with a new baby, and has a healthy rental history. Last year’s lease generated nearly $4,000 per month. Try finding a single family home of this quality under $600K in this neighborhood…

Seller to pay HOA for the rest of 2024! Come see! Open Saturday June 1st, 3 – 5 and Sunday June 2nd, 1 – 3.

When the right home comes along

Posted on February 13, 2024January 12, 2024 by Lily Ray Wyss

Often when starting out the home buying process, especially with a first time home buyer, we give the process a lot of structure. And that is for good reason.

We ask home buyers to get as specific as possible with their home needs, how many bedrooms, bathrooms, whether the yard needs to be fenced or not. We ask them their ideal timeline and so many other important things.

This structure and clear path forward is important to having a stress free home buying experience.

BUT sometimes you have to be willing to have an open mind and be flexible.

Enter C and H’s home buying story.

When I first met with C & H we met very early on in their timeline which gave us plenty of time to start the education process and dial in what they were looking for in a home.

We discussed their ideal time to purchase a home and when we would plan to start the search more seriously. Which was a few months out.

But then… a few weeks later… we noticed the perfect home.

You know, the house that was priced well, super cute, well taken care of and in a great area. The home were you stand in it and go, why has no one else snatched this home up yet type home.

Luckily C & H had already started the home loan pre-approval process so we were able to act quickly, write an offer and secure them the property.

Everything went super smoothly and I was able to hand them over keys to their new home. We were sipping champagne in their new backyard after what felt like the most beautiful whirlwind of a home transaction.

The moral of the story is, it’s great to have a game plan for your home buying journey, but when the right home comes along, even if it feels “too soon” sometimes making the leap can be the best thing you ever did.

If you want to talk about your personalized home buying strategy and how we can work together please reach out. I would love to be sipping champagne with you in your backyard someday soon!

Navigating the Portland Real Estate Market: September 2023 Update

Posted on September 12, 2023September 9, 2023 by Will Sing

Hello, fellow Portlandians and prospective home buyers and sellers! It’s Will here, bringing you the latest scoop on the Portland real estate market as we step into September 2023. Buckle up as we dive deep into the current trends, predictions, and some golden advice for both buyers and sellers in the vibrant Portland market. Don’t forget to hit that like and subscribe button for more real estate insights!

Current Market Dynamics

First things first, let’s talk numbers. The interest rates have been hovering around the mid to low-sevens, and while core inflation has ticked down slightly, the overall inflation has seen an uptick. The median sales price has decreased by about 2.7% compared to last year, and we are witnessing a competitive market in the $300,000 to $700,000 price range.

Predicting the Market’s Path

As we venture further into 2023, there are a few scenarios we might see unfolding in the Portland market:

Interest Rates Decreasing: This would be a boon for buyers, potentially bringing about 5 million new buyers nationally. However, it could spur a demand-supply imbalance, pushing the prices up.
Steady Interest Rates: If the rates remain unchanged, we might be looking at a stable market for the next 12 to 18 months, albeit with a persistent demand in the affordable first-time homebuyer range. This is the most likely scenario of the three.
Interest Rates Increasing: Not the best news for buyers as affordability would take a hit. Sellers might have to get creative with offers to attract buyers. We may also see a slight decrease in pricing but not 20-30% drops.

Golden Advice for Buyers

If you are a first-time homebuyer eyeing properties in the $300,000 to $600,000 range, brace yourself for some competition. But hey, don’t lose heart; you might just snag some cool concessions from the sellers, including a 2-1 rate buy down or additional closing costs assistance.

Seller’s Corner

Sellers, it’s time to put on your aggressive hats when it comes to pricing. With fewer buyers in the market, you might want to keep a close eye on comparable listings to price your property competitively. And if you are selling a condo, patience is key as the days on the market have increased.

Let’s Connect

Got questions or need personalized advice? Feel free to reach out; I am here to guide you in your real estate journey in Portland. And before you go, do hit that like and subscribe button to stay updated with the latest in the Portland real estate world.

First-Time Homebuyer Tips

Posted on February 16, 2023February 16, 2023 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!

Just Listed! Fresh Bungalow, A Gardener’s Dream!

Posted on July 1, 2022June 30, 2022 by Veronica Ocejo Johnson

5236 SE 42nd Ave

Portland, Oregon, 97206

Ideally located in the heart of the Woodstock neighborhood, this classic bungalow is walking distance to local favorites like Woodstock Park, New Seasons Market, and many more restaurants and coffee shops. Built in 1951, homeowners have lovingly maintained the home over the years with new updates like fresh interior paint and new flooring throughout that includes click luxury vinyl planks in the kitchen and bathroom, new carpet in the living spaces and bedrooms, and newly epoxied floor in the laundry and bonus room. The flexible floorplan has a bonus area between the garage and laundry with potential for an office or playroom. Outside, the spacious lot has a nice private backyard with ample yard space, freshly landscaped, and includes an outdoor fireplace, a covered patio for outdoor dining, abundant tree coverage, and multiple garden beds made up of raspberries and a variety of flowers.

OFFERED AT $399,000

2 BEDROOM | 1 BATH | 808 + 155 SQFT

MLS# 22397256 | TAXES: $3,783.90

What’s Meant To Be Will Be

Posted on February 28, 2021 by Living Room Realty

Reilly and Jaime were referred to me by a local lender and I have to be honest, from the first conversation we had I was thrilled to be working with them. They’re both in their 20s, out of college, and finding their paths in the world. The task ahead of us: find their first home.

Side Note. I have to nerd out for just a minute. I love working with first time homebuyers. I love it because I believe in home ownership as the jumping point for people to start building longitudinal and generational wealth. Homeownership is something I want to see for everyone at some point in their life. It especially excites me for young people to start owning as soon as possible, it opens up so many opportunities in the future. I have many friends who have started businesses, confidently changed careers, and/or retired early as a result of early home ownership.

Back to Reilly and Jaime. We knew they wanted to be in Vancouver and we quickly distilled their wants and needs to figure out exactly what we were looking for. We talked about the challenges in the current market and the strategies I like to employ to be competitive (we are in a heavy seller’s market right now). Some things will always be standard, but sometimes coloring outside of the lines is exactly what you need to do.

We looked at several houses and it didn’t take long until we found the house they were looking for. It checked the most important boxes. We made our offer. So did a dozen other people. We got beat out, barely, but we were in the #2 position, something I was more excited about than they were – because I knew it meant we still had a chance. We kept moving forward and looking at other properties, that’s how it goes. A couple of days later, just as we were getting ready to write an offer on a house that was great, but not quite as great as the first one, I got the call. The first position buyers had backed out due to cold feet and we were now in first position for them to buy the house they really wanted. Calling Jaime and Reilly to tell them the news was my favorite phone call that day.

Long Search for First Home Comes to an End

Posted on December 18, 2020December 18, 2020 by Mel Marzahl

Anika and Todd have been searching for their first home for over a year. It has been a long journey for them to find their first home. The toughest part was narrowing down what they really wanted and needed and then finding that within their budget. It was made even more challenging because of the increasing home prices, changing needs, and, of course, Covid.

Changing Needs and Wants

We started the search by looking at homes close-in SW Portland that needed some work. Anika and Todd have a great eye for design and what is possible with a home. We talked about the potential of lots of dated and fixer homes we toured. They researched the cost of putting in new kitchens, baths, and flooring, but eventually crossed a fixer home off their list. They decided that living in a project wasn’t for them, especially once Covid came and they and their two girls were all working and learning remotely. Managing and living in a remodel while teaching and working in it too sounded much less feasible.

We also looked at three-bedroom homes to start and decided that the family would need more space. With the greater need for a dedicated office, a four-bedroom, or three-bedroom with bonus room became a necessity. The extra room would serve triple duty as an office, playroom, and guest room for the day when the family can eventually come to visit!

Overcoming Challenges

With the changes in the family’s needs and wants, came changes in price expectations and location. We had to overcome multiple challenges with Anika and Todd’s home search. The first being that they are first time buyers without the huge cash reserves of many others looking in their price range. Because they weren’t buying your typical “starter home” Anika and Todd were up against other buyers who had more cash and were buying their “move-up homes” with equity from previous sales or other sources of cash. This made it tough to compete against the large down payments of other buyers, once we found houses they were interested in.

Their second big challenge was overcoming the reality check of housing prices and location. Over the year we were searching, housing prices increased by almost 8% in the parts of SW Portland we were looking. Also, when we started the search, we were looking at 3 bedroom cosmetic fixers in close-in SW. They were able to find this type of homes to look at fairly frequently. By the time we were making offers a year later, our search had changed to 4 bedroom move-in ready homes. Unfortunately, this type of house was over budget in the areas we were looking in so we had to expand our search further out to include the suburbs, places Anika and Todd originally had ruled out.

Writing the Winning Offer on the Perfect Home

After a year of searching, changing needs, overcoming challenges, Anika and Todd found an amazing home in Beaverton. It has three bedrooms plus a fourth bedroom/bonus room with interesting nooks perfect for a multiple-use space. We had to see it the second it came on the market, and after touring it, they knew it was the right one. They made a very competitive offer with great terms any seller would like to see. I spoke with the agent multiple times and developed a report with her. When we learned another offer was higher and willing to buy the home as-is, Anika and Todd decided to increase their offer to their max budget. They knew they could regret not doing so if they lost it.

The agent called me to discuss because their increased price put us neck and neck with their other offer best offer. We were told the only difference was that the other offer had a slightly larger downpayment and the buyers were willing to buy the home as-is. We chatted about why Anika and Todd weren’t comfortable with as-is, and while they truly didn’t expect to find any major issues, they couldn’t risk taking on a large, unexpected repair since they were putting their savings into the downpayment.

The sellers ended up accepting their offer anyway. I was thrilled to hear that the main reason they went with Anika and Todd’s offer over the other was my communication with the listing agent. Developing a good relationship with the other agent, being communicative, honest, and upfront while protecting Anika and Todd’s interests stood out to her. I don’t know who the other agent was, but I know they also wrote a very strong offer and were tough competition! Being a part of the deciding factor in my client’s offer winning out over another, slightly better offer felt great and I was so happy to relay that news to Anika and Todd.

A Long Search Comes to an End

Anika and Todd are now in the process of moving into their new home as I write this! The escrow process was a bit bumpy toward the end, with a closing delay, but we all got through it and both sides ended up happy. The inspection report was the cleanest I had ever seen, and the home needs just a few minor repairs and is ready for their personal touches. Anika and Todd are thrilled to finally own their first home. They worked really hard to make this happen for their family, and I couldn’t be happier to see them moving in.

Congratulations to Anika, Todd, and their girls! I can’t wait to see how they make their new house their home.

Just Listed: Stunning Wilshire Cottage

Posted on April 24, 2020 by Living Room Realty

4524 NE Prescott St.

Portland, OR 97218

Built in 1943, this gorgeous cottage sits on a rare oversized lot just a couple blocks to NE 42nd shops. As you approach the home, you are greeted by a quaint front porch, manicured grounds, and the signature blue front door. Entering the main floor immediately highlights the period finishes including oak hardwoods, a wood burning fireplace and the original millwork. An open living room with an abundance of light leads to the dining room which is bookended on the west end of the home by the kitchen. Classic 50’s era cabinetry surrounds a picture perfect sink window with a clear perspective of the front yard and surrounding homes. Rounding out the main floor are two bedrooms and a full bathroom which, along with the formal spaces, total over 800 square feet. The second floor includes nearly 300 square feet and features new carpeting, bright colors and an abundance of space to serve as a master bedroom, guest quarters or a great place to unwind.

In addition to the above grade living areas there is an amazing basement with a conforming stairwell, great head height, and over 800 square feet of space. The next stewards have numerous options for adding a bedroom, bathroom, a family room or just embracing the squeaky clean basement as it stands today. With new exterior paint, a newer composition shingle roof, and an attached garage, this home provides the next owners with highly functional interior spaces complemented by an amazing, oversized lot. Ideal for the urban farmer or anyone looking for more outdoor space, this property has a backyard that is twice as deep as most northeast Portland properties. Located in one of Portland’s most cherished communities this 40’s era cottage, and the incredible lot it sits upon, comprise a Wilshire address you won’t want to miss.

OFFERED AT $420,000

VIDEO TOUR | VIRTUAL TOUR

3 BEDROOM | 1 BATH | 1,122 SQFT

The One Where Kate Buys A House

Posted on January 31, 2020 by Living Room Realty

Hey everybody!

I’m Kate, the Own It Team Executive Assistant and as of today…guest blogger! Ross is always sharing client stories, and thanks to him I have a “happy ending” story of my own.

I never imagined I could buy a house. My 8 year old son and I have moved from rental to rental almost every year of his life. We’ve had some nice apartments, don’t get me wrong, but nowhere that felt like a permanent home.

Working in real estate for about 4 years now, I watched home prices rise and fluctuate, drooling over the listings I’d create marketing for and wishing I could make them my own. I’d read a buyer story that gave me hope, then look at my life and my finances and swiftly abandon that little glimmer of hope.

Meanwhile, Ross was encouraging me every step of the way. When I joined his team 2 years ago we talked about my future as a potential homeowner, and he was supportive, but realistic. “We’ll get you a place…it might be a few years, but we’re going to make it happen,” he’d say. Keep in mind at the time I joined him the market was hot – always multiple offers, always ending up over list price.

In May of 2019 I learned my rent would be raised yet again…this time to over $2,000 a month for our apartment. That lit a fire under me. I couldn’t stand to continue working a 9 to 5 and watching everything disappear!

I set myself up on a search from our website, and crossed my fingers. I didn’t know how I’d come up with enough for a downpayment, or how I’d afford a place in my son’s school district, but I let all the negative “what ifs” just exist alongside my need to make. this. happen.

…CLICK TO READ THE REST!

JUST SOLD: ORMANDY

Posted on January 17, 2020January 20, 2020 by Living Room Realty

I am thrilled to start out the new year by helping Tessa and Hayley purchase their first home. After wrapping up their doctorate work and related training they decided to make Portland their home. Tessa is a professor at PSU and I was honored when one of her colleagues, a past client of mine, referred them my way.

Tessa and Hayley shared with me their desire for privacy, and ideally a home that was perched among the trees. Portland has a handful of pockets that feature these types of homes, however they are by no means common.

As luck would have it, we struck gold early when we discovered “Ormandy” in the first weeks of our search. After touring this contemporary southwest home for a second time, Hayley and Tessa were certain this was the place for them. It had some projects they were game to tackle, while giving them the bones and space to turn the key and settle in comfortably right away.

I am grateful for their trust and confidence and feel lucky that my path has crossed theirs. I can’t wait to see them put their own touches on this great home!

Perfect in Portsmouth

Posted on April 30, 2019April 30, 2019 by Living Room Realty

Working with Rachel and Alyssa to find their first home was so much fun! We spent a lot of time looking for the perfect house while they learned about new neighborhoods and narrowed down their list of wants and needs. After finding some homes they really liked in Portsmouth they started to fall for the neighborhood. Who knew there was so much to offer in this little pocket of North Portland!?! This secret neighborhood surrounded by the more notorious St. Johns, University Park and Kenton neighborhoods has no less than four parks (and Columbia Park has a pool!), community gardens, the Peninsula Crossing Trail and local favorites like New Seasons, Cha Cha Cha and Drunken Noodle.

There were a few things that were must haves like more space and open concept for entertaining, but the biggest was a yard for their two dogs to run around in and a deck for them to lounge on. Outdoor space is great for humans, but we all know it’s really about the dogs. After a couple of months of searching and waiting for the perfect house it all came together! An adorable Portsmouth Bungalow came on the market and it checked all of the boxes – there really wasn’t anything to wait for so Rachel and Alyssa went for it!

I’m so excited to watch these lovely ladies grow into their new home and to have them in my neighborhood!