Multiple offer situations returning to the market.
Seller motivation returning to the Portland Real Estate Market.
New predictions for interest rates.
If you are wanting to talk more about your 2024 home selling or home buying plans I am here for you. While this market is seeing higher activity overall, different areas/price points/types of homes have their own unique micro markets, so it’s critical that we talk one on one about what you can expect based on your own needs.
You can find my contact information below. I look forward to talking with you!
Spring isn’t on its way… it is fully here. At least within the world of real estate.
New listings went up by a whopping 89% last month.
With pending sales trailing behind with an increase of 14%.
Sold home activity decreased by 15%. Though that is more exemplarily of the market we are coming out of as sold home data, by its nature, always lags.
We did see home inventory go up to 3.2 months which is great news for home buyers who have been waiting to see more options hit the market!
Here is what I am seeing in the market and hearing from other realtors:
It’s HOT out here.
One realtor in my office mentioned a listing her clients wrote an offer on that got 7 offers and she estimates that the home went pending at at least $50,000 over asking.
Another realtor mentioned 30+ parties coming through her listing.
Not every listing is getting this level of activity but it does show that we are heading in the right direction towards a hot market.
Here’s how you can make the most out of this new market as a future home seller:
Price is going to be key.
As the market heats up, it will be tempting to list your home at your ideal dream price. But while things are getting competitive on the buyer side, not every listing is getting intense action.
It is really key that we price your home at a price that works for you, but also entice buyers and gets the most amount of people through your door.
We want your house to be the one that gets 30+ showings.
We will also implement a high-level strategy for marketing (this is where I come in) and a strategy to properly prep your home so it shines.
Here is how you can be successful as a buyer in this new market:
Preparation, education, and strategy will be key.
If you are reading this email you are already doing great when it comes to the preparation and education portion.
Having a high level of knowledge about market trends will be extremely helpful.
And the same thing goes when it comes to preparation. Getting your finances in order with a lender before shopping will be needed in this fast-paced market.
And then strategy. As we enter a market where you may write an offer on multiple homes before getting an accepted offer, it’s important that we set expectations of this new market reality and that we are being super strategic about what homes we look at and how we write our offers.
If you want to talk more about your 2024 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 submarkets, so it’s important that we talk one-on-one about what you can expect based on your own needs.
Contact me below and let’s co-create your custom home buying and or selling strategy.
This adorable Milwaukie bungalow features four bedrooms and two updated bathrooms. French doors off the living room adjoin a room with beautiful natural light. This is a great space for a bedroom or family room.
The stylish lower level living space has a gas fireplace, kitchenette, two bedrooms with egress windows, and a bath/laundry room. The current owners used to rent the lower level as a permitted AirBnB. It has a separate exterior entry.
This fabulous home features many fresh updates including a new roof, gutters, siding, exterior paint, and radon mitigation system. The main floor bath is refurbished with new tile and vanity.
A covered front porch and back deck, a perennial garden, and raised beds in the front yard make for a comfortable, charming outdoor space.
All appliances, Gas BBQ and two Window AC units will stay with the house.
4 Bedroom | 2 Bath | Detached garage
Taxes: $4,490.67 (2021)
Square Feet: 1968
Lot siz: 0.11 ac
Home Energy Score: 6
Congratulations to Adam, Emily and Otto. Little did I know the journey we would have when Lisa Avena asked me to cover for her on vacation in November 2021. From a sale fail with Zillow in December to a baby born in January, we had tons of fun looking at some awesome houses until finding the right house for this new family to start a new chapter in.
Adam and Emily were ready to upgrade by selling their first home with Lisa in North Portland. We looked all over the North/Northeast Portland, Beaverton, even Forest Grove before finding this cute, ready to move-in ranch in Argay Terrace. They will have all the free time to play with Otto and enjoy their lovely new home! Time and patience was all we needed and they were so great to work with!
If you are looking for a new place to call home, I’d love to go house shopping with you!
This lovely home in Parkrose just found new owners! The spacious floor plan offers four bedrooms and three baths with tons of charm. The new owners will enjoy panoramic views from their living room, or step outside to the gorgeous raised deck and enjoy the fresh air. The fenced backyard sports lush foliage with privacy and shade. Attached two car garage, large driveway and additional side-yard parking. Neighborhood is quiet and residential near grocery shopping, public transit and great schools. I’ve so enjoyed working with my clients Chuck and Melissa who sold this home. Congratulations to all and best of luck on the next journey!
The Portland market continues to thrive, despite everything else 2020 has brought us. With only 1.1 months of inventory at the end of September, the market remains strong for sellers. For buyers, the competition is fierce as ever. Here is a quick snapshot of how things are looking versus last month & last year:
2020 has brought so much change to our communities. While the real estate market has thrived, buyers and sellers make decisions in a different way. New trends are popping up as we re-evaluate how and where we want to live. Here are the top 3 trends we are noticing in the Portland market.
1. “We need more space!”
A few weeks into lock down this March, I received a call from a buyer who simply needed a home NOW. They had downsized a few years earlier and were doing fine in their small condo, until COVID hit. With the extra time spent at home, a growing daughter and the need to work from home – it was time for them to purchase a house again. I have heard this anecdote over and over this year. Buyers recognize the need for extra home office space, a garage to work out in, and maybe a she-shed for some personal space away from the family. Many people don’t plan on going back to work in an office for quite some time. With interest rates being so favorable, we are seeing more first time home buyers joining the market as well.
We are also seeing a growing number of buyers searching for homes with a mother-in-law suite. This trend isn’t brand new, especially with the popularity of ADUs in Portland. However, the onset of COVID-19 has increased the need for families to be under the same roof. Many families with elderly parents feel that caring for their loved ones in their own home is safer. Others have noted that they need extra help with the kids while working from home. These homes are in high demand right now and they are not easy to find!
2. “We want LAND.”
For the last five years my businesses has primarily been focused on Portland and the close in suburbs of Lake Oswego, West Linn, Tigard, Tualatin and Beaverton. This year the number of buyers who have contacted me wanting land has increased substantially. I have buyers are looking for properties with 1-5 acres from Wilsonville to Damascus. A popular anecdote is, “if we are going to be stuck at home, we need room to roam.” Buyers are also looking for property with a separate shop and a view of Mt. Hood. Not surprisingly, home prices in these areas are up between 5-12% over last year.
3. “We are moving to Idaho!”
Raise your hand if you have heard someone say, “I’m moving to Idaho.” As your hands go up, so will mine. I have heard this from multiple people over the last few months. While Oregon isn’t seeing a mass exodus of people fleeing the state, we are experiencing some movement. And according Business Insider, “Idaho had the largest net gain, where 194% more people moved into the state than out during the pandemic.” Oregon ranked number 7 on the list, where only 2% more people moved into the state than out during the pandemic.
Our friends and clients say they are attracted to the lower cost of living and the beauty of the state. The pace is slower yet there are plenty of outdoor activities. Our next door neighbor purchased a small home in Boise this summer. They have it set up as an Airbnb and plan to retire there eventually. Another client sold one of her rentals in Beaverton and will purchase an investment property in Idaho this fall.
If you or someone you know is in the market for more space, room to roam or a move out of state – contact me today!
Soaring ceilings, gorgeous wood floors, high-end millwork & updates throughout the home.
The kitchen features fresh white cabinetry, stainless appliances, a large island, breakfast nook with built in bench seat & ample storage. The entire main floor is open and spacious – it lives so large!
The beautiful owner’s suite has park views and an updated bath, plus a large walk-in closet. Two additional bedrooms each have én suite bath. The large bonus room upstairs is the perfect place for relaxing. An office on the main is ready for your work from home needs.
Step outside to the covered patio & private, lush yard. A pergola sits atop a paver patio making a wonderful conversation space after dinner. The 3 car garage has plenty of storage & a newly built loft area.
This is the West Linn home you have been waiting for!
This gorgeous Metzger home has an 0pen floor plan with engineered hardwoods throughout the main floor. The kitchen features a granite island with breakfast bar, stainless appliances, gas range and a pantry. A separate dining area leading to the patio is just beyond the kitchen.
Upstairs, the vaulted owner’s suite features a reclaimed wood accent wall, ceiling fan, large walk-in closet & en suite bath with dual sinks. Two additional bedrooms are light and bright with standard closets. The laundry area has built-in cabinetry and a hanging bar.
Work from home in the main floor office!
Step outside to a partially covered patio and fenced yard with garden beds. Out front is a yard with new sod, sprinklers & fresh landscaping. A short distance to Metzger Park & situated between I5 & 217.
There is so much to love in this Gorgeous Metzger Home!
Gorgeous Beaverton home with high-end style! Sought-after layout with 4th bedroom or bonus room + office. Schoolhouse electric lighting and hardware, Smith & Noble window coverings and elfa shelving in the garage. Wide plank engineered hardwoods, quartz kitchen with large island & eating bar.
Gorgeous master bath with tiled walk-in shower, soaking tub, dressing area and walk-in closet. Fourth bedroom could also be a bonus room. Large windows with views of the trees and a south facing backyard that provides filtered natural light throughout the day.
Stylish Craftsman with high quality upgrades! Functional layout with 4th bedroom or bonus room + office. Schoolhouse electric lighting and hardware, Smith & Noble window coverings and elfa shelving in the garage. Wide plank engineered hardwoods, quartz kitchen with large island & eating bar.
Gorgeous master bath with tiled walk-in shower, soaking tub, dressing area and walk-in closet. Fourth bedroom could also be a bonus room. Large windows with views of the trees and a south facing backyard that provides filtered natural light throughout the day.
Gorgeous home on the most sought after street in Oak Hills! Corner lot with extensive remodeling inside and out. The gourmet kitchen features a 12 ft walnut island, high end appliances, built-in espresso machine, wine fridge, 2 sinks and a wall of windows. With 5 bedrooms plus and office or bonus room, this Oak Hills home has it all. The custom laundry room has extra storage, cubbies for hanging coats and bags, plus a utility sink. The master bath is updated with dual vanities, quartz counters and a walk-in shower. Outside is a new Trex deck and paver patio with gas fire-pit, play structure & plenty of extra space to play. A short walk to Oak Hills Elementary, newly remodeled recreation center and neighborhood pool. This community has the best firework show in Portland and many other events throughout the year. Don’t miss this Oak Hills beauty!
After doing long distance for 18 long months, Michael and Shelby have found their first home in North Tabor! While planning a wedding they handled this process like pros.
The journey was not one without bumps along the way. After multiple bidding wars and back-up offers, they did not lose hope in finding the right home. With the focus being in SE neighborhoods, I was surprised to have a NE home come up as a home of interest.
We scheduled the appointment and within moments of walking through the doors, they were planning how they would decorate. This was the one.
Though they loved the home, the price wasn’t quite right. After some negotiating, we presented a strong offer with ideal terms. We had an accepted offer for lower than asking (yay!). Before we could have our inspector go out, we were notified that our back-up offer for the previous home was accepted. Since it was a backup offer, they were not obligated to move forward. This left them with a choice to make.
Having the choice solidified their confidence in their move-in-ready NE home. We were moving forward. The inspection revealed that the sewer line had issues, however after three professional opinions, the sellers took on the cost of replacing the entire sewer. Happy buyers to say the least.
They are looking forward to enjoying their first years of married life in their beautiful home with a backyard made for entertaining. Congratulations to my good friends Michael and Shelby!
