Tag: firsttimehomebuyers

The Power of the Pause // Closed in NE!

Posted on by Olivia Rush

I am so freaking PROUD of these first-time homebuyers!!!

Mollie and Troy found me on the interwebs and we began working together last spring. We saw a slew of homes, but Mollie & Troy were *underwhelmed* by the selection within their budget.

They decided to hit the pause button for a year and committed to saving up more money before jumping back in.

Like clockwork, Mollie and Troy hit the ground running in 2024. We met on January 9th. In just a few days, we saw 7 properties and zoomed in on a funky ranch in Russell w/ fun angles and windows for days, PLUS so many updated systems.

Mollie and Troy made some tweaks to their initial offer to beat their competition, and had their offer accepted January 12th. Inspections went extremely well (a realtor’s dream) and we STILL negotiated $4100 in credit for some maintenance items.

Thanks to the incredible Beth Imhoff at Academy Mortgage (@mortgages.by.beth), we closed early on January 31. It seemed quick, but it was many months in the making. They hit pause first to fast forward later!

Mollie and Troy had a vision, committed to their goals, and made it happen. Cheers to you and to the power of the pause.



One and Done: Closed in Richmond!

Posted on by Olivia Rush

How cute are these two on their brand new front porch?! 

Sherwin and Jessica sauntered into an open house I was hosting in February. They were looking to move out of their west side apartment and into one of the east side’s more walkable neighborhoods.

We began working together, which was fun because 1) they’re cool and 2) they like beautiful houses 😉 Don’t get me wrong, I love nothing more than helping buyers purchase “plain jane” homes with massive upside potential. But there’s just nothing like a dolled up classic prewar Portland home, is there?

Another great aspect of working with Jess and Sherwin – they knew what they wanted. Not as much in a 3 bed, 2 bath, 2000 sq ft kinda way – more that they just knew when a home had *it,* and when it didn’t. They were strategic about the homes they saw, and knew what they were and weren’t willing to compete for.

So, when we stumbled along a gorgeous foursquare just blocks off Division with incredible bones, Jess and Sherwin saw what a fresh paint job and a few new light fixtures could do for this property, and we pounced.

One offer, one acceptance, a fairly chill inspection, reasonable sellers, great co-op agents, and a high appraisal (!!) later, and it’s champagne on the front porch time!

These two were a joy to work with! Cheers Jessica + Sherwin, can’t wait to see which white you pick for the walls!



Just Sold! 1950’s Cozy Charm

Posted on by Living Room Realty

Congratulations to my clients (and dear friends!) on the sale of their sweet little home!

Matthew and Kelly have been absolute dream clients, trusting my guidance and taking all the steps necessary to list their home from day 1. A lot goes into getting a home ready for market, even when it’s THIS market, prepping, cleaning and tidying inside and out makes a big difference!

All of their hard work paid off with multiple offers well over asking in the first weekend on the market. This is definitely one of those homes where you can feel all the love and energy put into it. Everyone who came through loved the warmth, charm and extra bonus workshop space — the perfect home for folks looking to garden, create and enjoy the sweet combo of brightness and coziness all in one home.

My sellers navigated a couple unexpected bumps like champs and I am delighted that they are on their way to the next dream home and new adventures to come! Congratulations Matthew and Kelly!

Worth the Wait in St. John’s!

Posted on by Olivia Rush

What a way to begin Memorial Day Weekend. Congratulations to Miles and Casey – it was well worth the wait!

I first met Casey and Miles nine-ish years ago. My housemate and I put an add on Craigslist for someone to fill our 3rd bedroom, and the universe brought us Casey! She had just graduated from U of O and was moving up to the Big City. She and Miles had already been together a few years, so I got to know him during this time, too.

After moving out of that house, we lost touch for a while, until about three years ago. As it often goes in tiny Portland, Casey, Miles and I were reconnected by mutual friend groups we didn’t know we shared. We caught up at a party and they let me know they’d be in touch once they were ready to make the leap into home ownership.

I finally heard from them last summer, and we shifted into full search mode. They were open to different neighborhoods in East side Portland, but their ideal location was St. John’s, where Miles teaches 5th grade at a bilingual school. Also high on their list was the cute factor and a space for Miles’ drum set.

Casey and Miles were dream clients for a few reasons. 1) I already had a relationship with them. 2) The sarcastic and witty banter to accompany our home search in a Seller’s market was top notch.  And 3) they knew what they wanted – and maybe even more importantly, what they didn’t want. They were highly selective in the houses we went to see, often knowing before we even visited that they’d be making an offer.

The first few offers didn’t stick, and the third rejection was an absolute heartbreak. Casey and Miles decided to hunker down, lick their wounds, and wait out the winter until there was more inventory. They took several months off, all the while watching the market from afar but not seeing anything special. Not until the Mohawk house.

We saw it the day it was listed and actually ran into the Sellers as they were tidying up! We awkwardly tried to simultaneously show appreciation to them and conceal our giddiness as we explored the home and property. We drove around the block, just out of ear shot, got out of our cars, and starting planning the offer right then and there.

Miles and Casey were ready to go all in on this one – heartbreak was not an option. We crafted a lovely offer with stellar terms, and the Sellers selected our offer over 11 others (including a few that were higher in price)! Giving Miles and Casey the good news was one of my favorite phone calls I’ve ever had the pleasure to make.

We negotiated a credit and cleared the appraisal fairly quickly. Thanks to their wonderful, communicative lender, they closed in 24 days! We wrote the chicken coop and 4 chickens into the offer as personal property, and when we met on Friday to exchange keys, there were 3 fresh eggs waiting for Casey and Miles. I am so proud of these two for sticking with it. Cheers Casey and Miles!

Home on a Hill

Posted on by Olivia Rush

Holy guacamole! Tedd and Autumn bought a house!

Our conversations about home-ownership began several years ago. Buying a home was a goal for both of them – separately, and then jointly. Tedd and Autumn budgeted, saved, and hustled to get to this point.

Once it was go time, they brought it all to the table – long-term planning, patience, humor, excitement, trust, execution, imagination, vision, and can-do attitudes. They wisely strategized and set their sights on purchasing a fixer and putting that sweat equity to work.

We identified homes that had been on the market for a while and visited several before they felt the good vibes flowing at The Hill House. Tedd and Autumn trusted their gut and held off on putting any offers in until they found a place where their budget and vision met. This led to their first offer on The Hill House being accepted – and later, a brand new roof, electrical panel, and all closing costs being covered by the Seller!

We closed on Friday afternoon, and the kitchen demo began this morning. I feel like a mom sending her babies off to college. Have fun and be safe! So proud of you! Mom can’t wait to see the before&after magic!

Cheers to these fine folk, and stay tuned for the good stuff: transformation photos!

Closed on Cottonwood!

Posted on by Olivia Rush

Congratulations to Chris and Anna on the successful purchase of their new home in Milwaukie! It has been a pleasure working with these two first-time homebuyers. I am so proud of their cool, calm, collected approach to what can be a frazzling market. Below are a few takeaways from our transaction that all buyers can benefit from:

  • TEAM: Chris and Anna did their homework. They talked to friends and family and knew they’d need to build a strong team to help guide them through the process. They had extensive conversations with both me and their lender prior to actively looking at homes. Once it was game time, all team members were on the same page and chomping at the bit. Their lender’s availability over the weekend and communication with the listing agent played a huge role in helping their offer get accepted.
  • TERMS: Chris and Anna beat out 4 other buyers, even though their offer was not the highest in price. They included creative verbiage around repairs and appraisal (but didn’t have to fully waive either). Additionally, Chris and Anna offered the Sellers flexibility in the form of a free rent-back period. To show seriousness and round out the offer, Chris and Anna agreed to order the appraisal right away. It is typically not one term, but a collection of terms, that makes a buyer’s offer stand out above the rest.
  • TRUST: Chris and Anna understood that they were up against stiff competition in this market, and experienced two heartbreaks before having their offer accepted. They were eager to reflect upon and learn from their experiences, and trusted me to give them honest feedback and perspective. This foundation of trust carried us all the way through the transaction and helped make the inevitable bumpy parts less jarring.
  • TRY: The inspections turned up some significant repairs and deferred maintenance. Rather than throw the towel in, Anna and Chris trusted the process. We worked diligently to get multiple bids for each item and outlined our ask using logic, reason, and numbers. Though there was a backup offer, our due diligence paid off. The Sellers agreed to a concession totaling, roughly $20K in concessions!
  • TEXTS: I often use the roller coaster analogy to describe the home-buying process. Through the ups and downs, it was our hilarious text thread – filled with Chris’ dad jokes and ridiculous GIFs – that kept us grounded and allowed us to check in on the daily. I can’t stress enough how much having a sense of humor can make the home-buying process a bit less nerve-wracking.

Keys will come in a month or so, but we can certainly drink to Chris and Anna’s success now. CHEERS to the new homeowners!

The 2020 Portland Area Surprise Market Takeaway!

Posted on by Erika George & Kari McGee
Many of the surprises in 2020 have not been fun, to say the least. However, one surprise has delighted us: the success that our first-time homebuyer clients have found in spite of the strongest sellers’ market we’ve seen in our 15 years of real estate! We had multiple-offer success after success for these intrepid, can-do buyers as a result of several important factors:
  1. The big, national cash investor companies halted operations in our area due to Covid-19 and related real estate market concerns. That meant our buyers didn’t have to compete against cash buyers with deep pockets. The absence of these cash investors finally leveled the playing field for first-time homebuyers who generally had only to compete with other financed buyers for the first time since 2013.
  2. Historically low interest rates allowed for more buying power overall, and helped financially “young” buyers overcome hurdles to qualify for a home loan.
  3. Our first-time homebuyers have benefited from our extensive experience in writing offers in a multiple-offer scenario. The sales price is just one of a handful of very important concessions a buyer can make when writing an offer: appraisal support, limitations on repair requests, and other secret-sauce tactics have proved to be very powerful for sellers who are comparing numerous offers.
There are many things we love about our job, but helping people purchase their first home will always be at the top of our list. It gives us so much joy to help folks put down roots, build community, and start to build financial stability for their lives. Our heartfelt congratulations go out to Neil & Caitlin, Sarah & Travis, Flo, Celise (and Kirk!), Hali & Lucas, Kath, Shannon, Jody & Kevin, and David & Mireille, all of whom purchased their first homes in crazy, stressful pandemic-ridden 2020!

Thinking about purchasing your first home?  We’d be honored to help you beat the odds too!

Kari & Erika:  HouseLovePDX

971-322-6612

www.houselovepdx.com

 

First Time Home Buyer Appraisal Lessons

Posted on by Erika George & Kari McGee

We’ve had the most wonderful good fortune to be able to help get an amazing handful of first time home buyers into home ownership these past few months.  While the market has been incredibly competitive, we have had great luck helping our clients get accepted offers in multiple offer scenarios, or on the rare 2020 sleeper property before it gets noticed!

Our latest success story is first time home buyer Flo.  Flo had a bit of a set back when the lender’s appraisal for her loan approval on a new construction home in Hillsboro, came back at a lower value than what she had agreed to pay for the property.  As a result, Florence had to terminate her sales contract on that property.  While the pull of sexy new construction is strong, we helped Flo understand that there likely would be something else out there for her in great condition, but without the tippy-top of the market sticker price one generally finds in new construction.

Sure enough, Flo found a wonderful 2015-built, townhouse style condo in Happy Valley near restaurants, grocery stores and other services that she can walk to.  The property is bigger than the new construction home she had originally decided to purchase and she now has a sweet patch of actual yard out back, another feature that was lacking in her original property.  Like the new construction community in Hillsboro, this resale home also has access to an outdoor neighborhood pool.  Most importantly, the home is in terrific, like-new condition!

We are so happy for you Florence.  We happen to think that Happy Valley is the perfect place for our energetic, gift-giving, eternally cheerful (except after low appraisals perhaps), eternally HAPPY Flo!

 

 

 

Buying a House During an Apocalypse

Posted on by Erika George & Kari McGee

You’ve all probably heard that a real estate transaction will likely be one of the most stressful events in your life.  But real estate PLUS everything that’s going on right now is… um… well, it kind of feels like living through an apocalypse (and yes I realize that ‘living through an apocalypse’ is an oxymoron).

Cut to Kirk and Celise who had been living a lovely life in London after work carried them there a few years ago.  Then 2020 upended a bunch of stuff for them and Presto Change-O, they came to the Portland area for Kirk’s sister’s (very small camping) wedding, and then bought a house in Hillsboro.  The end.

I mean seriously, 2020 just kinda feels like that right?  Kirk and Celise (and many of you I’m sure) have got to be feeling like they got lifted in the great Wizard of Oz Pandemic Tornado of life, and then were plopped down in Portland just in time to experience the worst Wicked Witch worthy fire season we’ve seen in our beautiful state.  Folks are getting a ton o’ S_ _ T thrown at them fast and we’re seeing big life decisions made in real time minutes before our very eyes.  Kirk and Celise are definitely not alone on this front.

But Kirk and Celise now have shelter in this apocalypse of a year.  They even got their keys a whole 24 hours before the smoke started to get bad in our area.  And they now have a place where they can weather out this storm, and carry on to a wonderful and full life in a new town that will, once the smoke clears out (and the pandemic is contained), be brimming with hope and opportunity once more.

It’s our job to help you get to your heaven on the other side of your 2020 end-of-days feelings.  And we will do that for you.  We’ve been working real estate for more than 15 years and we’ve worked all kinds of markets and conditions.  And while global pandemics and the worst air quality in the world are definitely new to us, we are carrying on and helping people find shelter in their storms, just like Kirk and Celise, and their cutie-patootie daughter.

Stay Strong Oregon.  We will get through this.

Kari & Erika

971-322-6612

www.houselovepdx.com