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.

After 8 years in the real estate industry, I have heard it all. As a Realtor, I am often exposed to the most stressed-out version of each of my clients at one point or another throughout the process. And, since everyone’s timeline, financial situation and overall tolerance of risk is so different, I end up helping my clients work through a variety of different questions, fears, obstacles and decisions. These are the moments that can make or break a Realtor’s level of expertise in my opinion, and are a huge part of why I enjoy what I do. 

I get to be a trusted Advisor for my clients during huge moments of their lives. 

But back to the point. One of the most common phrases I have noticed over the years comes from my Buyer clients, when they tell me they “don’t want to waste my time.” So, I wanted to address that phrase in this blog installment.

Most commonly, I hear this phrase when someone is in the early stages of their home search, and they are still figuring out which locations to target and what budget they want to stay within. The other times I have heard this, is after weeks or months of looking at properties, without finding the right one. 

What I find interesting about both of these scenarios, is that it seems as though people have been conditioned to believe that they shouldn’t call their Realtor, until they are ready to make an offer on a home. Or, that there is a finite period of time that they should be finding their home within. Otherwise, they might be wasting my time. 

This couldn’t be further from the truth. 

Having sold nearly 200 homes in my time as a Realtor, I can confidently say that everyone’s timeframe for finding the right property is different. I have had people buy the very first house I showed them, and I have had people take a year or more to find “the one.” Neither instance is right, and neither is wrong. The goal remains the same — finding a property that you connect with and want to purchase!

Sometimes the best way to accomplish this goal, is to see as many homes as possible in person, which can provide super valuable information as to what will or won’t work for you in the property that you purchase. And I LOVE being a part of this process! The better understanding that I have for what your dream home is, or what your goals are for that particular property, the better I can serve you. Being involved in this part of the process also allows me to add my experience and expertise into the mix as well, and hopefully offer some valuable insight that you may not have thought about. 

Either way, the bottom line is that working with you all is an absolute pleasure, and as your trusted real estate advisor, I love being involved in your process for buying or selling a home from start to finish! 

Oh, and it never feels anything close to being a waste of time. 

One of the best things about being a Realtor, is getting to be part of such a momentous occasion in people’s lives. For many, purchasing a home is a goal they have had for many years, prior to actually being in a position to do so. Then, when it actually all comes together, the gratitude my clients express to me for guiding and advising them through the process, is truly humbling. 

On many occasions, I end up becoming great friends with my clients, through the shared adversity, excitement and joy that can come from purchasing a home. When the deal closes, and the stress melts away, the friendship and bond that has been built doesn’t. Being able to work with clients who I genuinely enjoy and care for as people, is what gives me that extra level of passion for what I do. 

Thank you all for always trusting me as your resource for all things Real Estate. I am forever grateful! 

The conversations surrounding Real Estate in the Portland Metro area these days seem to be centered around the idea that the market is cooling off. While the terms “hot” and “cool” are always relative, I thought it would be prudent to share some statistics to help frame this conversation. 

According to the most recent RMLS Market Action Report, new listings and pending sales each decreased by around 4-5% in August. Inventory increased by 10%, and total time on market increased by about 15%. Taken at face value, these stats might lead one to believe that the market is beginning to shift. 

However, when we look at the actual statistics for inventory and time on market, we see that we still only had 1 month’s worth of inventory in August, and the average time on market was 23 days. Inventory has been at or below 1 month for the duration of 2021, and the average time on market YTD is 28 days. So, these key indicators of market activity are still very consistent with what we have been seeing all year in the Portland Market. 

Something we don’t have hard data for, but that I have noticed through my own experiences as a Realtor,  is that there does seem to be a lower number of competing offers when a new listing hits the market. Throughout the Spring and Summer months, it was very common to see 10-15 offers on a new listing during the first weekend on the market. Now, it seems that we are seeing closer to 3-5 offers for a hot new listing. 

Competition being a bit less steep is certainly a welcome sight for Buyers, especially those who have been looking for a home all year. With that said, we are still in a heavily favored Seller’s Market, and Buyers should not mistake the decrease in competition for a shift in overall market conditions. If your hope is to wait for the market to turn, you may be waiting quite a while. 

To add some perspective, one of the hottest real estate markets I have worked in (besides 2020 and 2021) was during the Spring and Summer of 2016. In August of 2016, we had 1.9 months worth of inventory, and the average time on market was 34 days. So, even if our current inventory numbers doubled, and time on market increased by 48%, we would still have market stats consistent with one of the hottest Sellers’ Markets Portland has ever seen.

In short, if you are thinking about Selling, you didn’t miss your window. If that is still a goal, let’s chat, so we can set up a plan and timeline. If you’re thinking about Buying, but hoping to wait for the market to turn, I’d probably advise against waiting. While the market will surely turn eventually, the amount of inventory needed for a balanced market (6 months worth), is not something we will likely see in the Portland Market in the near future. 

Thanks for reading. Call or text anytime, if you’d like to discuss the market.