Tag: pdx realtor

4 things to do before starting the home buying process

Posted on by Lily Ray Wyss

Buying a home in a competitive sellers market can seem intimidating. But with a good deal of preparation, education and the right real estate team to support you, you can be highly successful.

Here are 4 things you should do prior to shopping for homes:

⚫️ Meet with a lender ASAP.

Having an initial conversation with a lender about where you are financially, where you need to go and how to get there will save you so much time and headaches.

If you don’t have a go to lender, your realtor (aka me 🙋🏼‍♀️) can send you a few recommendations.

⚫️ Get really clear on your home wants and communicate them to who ever you may be buying with and with your real estate team.

This will also save you so much time as there is no sense in us looking at homes without a fireplace if a fireplace is a necessity to you.

⚫️ If you are starting the home buying process but don’t plan to buy for a while, look into opening a high yield savings account and put your downpayment funds and other expenses for the purchase in it.

That way you will have a specific place for saving up for your home purchase AND you will make great interest on the money adding to your funds to purchase.

⚫️ Connect with a realtor as soon as possible.

Even if you don’t plan to purchase a home for some time, the earlier you meet with a realtor the more time they have to educate you on the process.

I just met with a couple last week who don’t plan to buy till 2025 this had me excited as we have so much time to talk about the ins and outs of the home buying process, research the types of homes that could best meet there needs, and we can watch the market trends so they are clued into how homes in their area of interest are performing in the market.

If you are wanting to co-create your winning home buying strategy I am here for you. You can find my contact info below. I look forward to talking with you!

Portland Oregon Real Estate Market Update for January 2024

Posted on by Lily Ray Wyss

What we discuss:

The Spring Real Estate Market already showing up.

How home buyers can be set up for success in a hot market.

And what opportunities this new market will have for home sellers.

Is the Spring Real Estate Market already here?

It seems like it.

While the data in the graphic above shows low numbers for last month, things have shifted in the last week or two.

Interest rates have already started to go down and it seems like everyone is ready to go back to business as usual now that we all are pretty much recovered from the holiday madness.

With rates making their way down to the mid 6% range (most predict that they should stay in the 6% range and will not go much lower than 5.5% in 2024) many buyers have decided to re-enter or enter the market.

And we are starting to see potential sellers take notice and many are putting their homes on the market now versus waiting for the Spring.

While not everyone is waiting till Spring to make a move, if the activity over the last few weeks is any indicator, we should see a robust real estate market over the next year and certainly in the first half of the year. (We are a bit cautious about predicting high activity in the second half of the year due to the election coming up).

What does this mean if you are thinking of selling? In most cases, you can expect to have motivated buyers ready to buy your home.

However, it is important to note that with our current economy, many buyers are still hesitant when it comes to their spending, so making sure we prep your home well, market it correctly, and price it strategically will be critical.

A good deal of homes are already starting to get multiple offers in today’s market so we will do everything we can to make sure your house is one of those shiny listings everyone wants.

What does this shift in the market mean if you are a home buyer? We will want to be highly strategic in the offers we write and the type of homes we even look at.

If we toured homes in 2023 together the market will be noticeably different. Homes that sat on the market for weeks will now potentially sell in a weekend meaning you will have to make quicker decisions and likely compete with other buyers.

Don’t let this stress you out though. I helped a bunch of buyers (many were first-timers without a lot of cash to throw around) buy homes successfully in the height of the 2021-2022 market and we can do the same for you.

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 sub-markets, so it’s important that we talk one-on-one about what you can expect based on your own needs.

Reach out and let’s make your real estate dreams come true.

Real Estate Market Forecast for 2024

Posted on by Lily Ray Wyss

No one knows for certain what 2024 has in store in the world of real estate. But in the video above we discuss a few widely predicted trends.

Here are a few highlights:

Interest rates are already trending downwards (whoohoo).

With this we are already showing higher motivation from home buyers which will continue to increase.

Hopefully, this means we will also see higher motivation from home sellers (as sellers notice the higher demand from buyers). Leading to more homes and more options to the market.

Meaning we can predict an active Portland Oregon Real Estate Market for most of 2024. We could potentially see the market slow down in the second half of the year, if we follow trends from past election years.

Want to discuss your potential home buying or home selling needs for 2024? I would love to connect. Reach out and we can set up a time.

You can contact me below or reach me at lily@lilyrayres.com.

Adventures in Real Estating: Selling During Covid

Posted on by Living Room Realty

This dreamy South Tabor farmhouse of infinite possibilities just sold in the midst of covid panic at $52k over asking with 7 offers in just 3 days.  Many congratulations to my client — all his hard work getting this gem ready for market paid off big time!

Before covid began, we met to discuss how he could best prep his home for the market.  I always recommend scheduling a consult and walk through with your REALTOR® before embarking on home projects. This can save you lots of time and money, as we are able to identify which changes will have the greatest impact on your sale in the current market. In this case, most of the work was focused on the exterior, but inside, fresh white paint and top notch staging brought the house to life in a whole new way!

 

 

 

Here is the living, dining area and kitchen before…

 

 

 

 

 

And after!!

 

 

 

 

 

It was as if the whole house sprang to life! I remember walking through after it was painted and could practically feel the walls beaming and calling out for the next stewards of home.

view from South Tabor

One of the aspects I love most about this home is the SPACE! All kinds of spaces for all kinds of imaginable fun. Outside there is not only a nice sized grassy backyard + side yard perfect for garden beds, but also a hot-tub cabana, big locking bike shed and a carport with storage and workbench. Inside, the 3 bedroom/2 bath home also includes a den and office upstairs while the basement offers a finished bonus room, laundry area and unfinished space for storage or projects. But I think my FAVORITE space is the upstairs bathroom ~ clawfoot tub and Mt. Tabor views? Yes, please!!

 

My seller put a lot of love into creating a lush grassy backyard where an old blank deck lived before and added many sweet details and upgrades to the exterior to boost curb appeal and honor the 1910 vintage of the home.

When the time came to list, we had just hit the 1 month mark into this new covid reality and I offered my best advice on competitive pricing as things were still feeling a bit uncertain in the market of pandemic proportions. Covid protocol for all potential buyers meant current preapproval letters, masks, shoe covers and hand washing at the beginning and ending of each showing. No more than 3 people in the house at a time and 30 minute showings with 15 minute buffers. When the listing went live we had  immediate interest and within 48 hours over 40 showings were scheduled.  Three days later, my seller went pending with a solid offer that beat out 6 others at $52,000 over asking and stellar terms.

Throughout this transaction, both my seller and the agent on the other side were excellent communicators, easy to work with, and at the end of the day everyone wrapped up feeling really happy about the outcome. I am deeply grateful to my client for his ease in trusting my expertise and putting in the time and energy to give his house the best possible outcome in our market.

These are the stories that really light up my spirit: feeling the energy of a home brighten up with a little bit of love and elbow grease ~ the house that calls in its new owner like a match that was meant to be ~ clients’ joys of new beginnings ~ and navigating through unprecedented times with presence, awareness and clear communication. 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!

Stay safe out there, be gentle with yourself, and take care of each other ~ we will get through this ❤️

 

 

 

Many Blessings,

Sarah

 

 

Less Stuff, More Life

Posted on by Veronica Powell

 

 

That’s what moving from a 2700 SF house to a  1500SF condo in the Pearl is all about.  It’s about walking to everything.  It’s about joining a new community.  It’s about simplifying.

If this sounds like the direction you’d like to see your life go.  Give me a call. We can get ‘er done!

 

Veronica Powell

503.936.3475

Veronica@LivingRoomRE.com

 

 

Never Have I Ever…

Posted on by Living Room Realty

Mary Ann came to me as a referral from one of my favorite clients to date, I already knew I would love her based on that. As we toured her home for the pre-listing walk through, I began to jot down my regular notes: take down posters, narrow down decorations, put away unnecessary kitchen counter top appliances, yadda yadda. She was clearly making mental notes as well, and I could see she was up for the challenge. We cruised through her (incredible!) theatre toward her master bedroom, her sweet pup- Phinn, trailing close behind. Mary Ann watched me closely as I peeked into each closet accessing its future. As I reached the master bedroom I saw her grin and mumble “uhhh open that one slowly… I have kind of a shoe thing…”. You guys. I’ve never seen so many shoes in all of my life! Nordstrom has nothing on Mary Ann! She had neatly lined each pair up row after row after row, after row… after row. I closed my gaping mouth, gave her my punch list and prayed to all of the listening shoe Gods. I returned a week later to finalize the listing and almost fell over dead, SHE DID IT! Mary Ann did every single thing I asked! Talk about dream client!! All of the hard work paid off 7 days later when she got her offer and we sailed into a smooth closing. Congratulations Mary Ann! Thank you for trusting me and letting me participate in your move to the next chapter!

Home Town Proud

Posted on by Living Room Realty

Small town kids grow up together, and stick together like family; we trust each other and have a bond that lasts a lifetime. David and his family had decided to move back to the Portland/Vancouver area for his his wife’s job and be closer to David’s mother. I am always honored to be chosen as someone’s REALTOR®, it’s an additional bonus when we’ve grown up together. We went back and forth about the difference of Oregon and Washington, the schools each area had to offer their three beautiful boys and the congested commutes to avoid. We looked at many homes, and I do mean many! Soon they had their mind set on Camas, though they knew how competitive the homes were because of location and highly ranked schools. It wasn’t long before I could see them starting to compromise with other areas in Washington. After viewing 6 homes outside of town, I eagerly pushed them back into Camas for our last showing of the day. I knew they were tired, and this home was out of the way.. after all, we had seen this house before so why was I pushing them so hard to go back? The first time we viewed the home, we had already fallen in love with another one that just wasn’t meant to be (thanks a lot bidding war). I had a feeling in my gut to view it again when I was out touring on my own, and decided to put it back on our list. As we all walked in, the feeling of “home” rushed over us. The layout is what David wanted, the master bath and closet were what Sam wanted, and the fenced backyard that peeked over to the friendly neighbors was perfect for the kids. As I handed over the keys on closing day, I glanced over with a nostalgic smile realizing some things never change.. Class clown, David was still at it! Congrats my fellow Pirate! I have no doubt you’ve chosen the perfect home.