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Early 2019 Real Estate Market Update (and a dash of puppies)

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Early 2019 Real Estate Market Update (and a dash of puppies)

I haven’t written a blog in a while! To my ones of erstwhile readers, my sincerest apologies.

Late 2018 brought on lots of change for my household in the form of 2 puppies and the beginning of a major remodeling project, which I’ll write more about once we’ve actually broken ground, so stay tuned.

That wasn’t the only reason for the hiatus. In addition to my regular real estate activity (and last year was bustling!), I’ve been working on launching a brand new home search platform and website that will offer some great tools for active home buyers, window shoppers, prospective sellers, and home owners that like to keep up with their neighborhoods. Hopefully that will be coming very soon, so stay tuned for that, too!

For right now, it’s time to talk about the real estate market, and see some puppy pictures. All my conversations lately revolve around these two subjects, so it’s just about all I can write about!

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Smelly Homes - The Complete Guide on What to Do

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Smelly Homes - The Complete Guide on What to Do

It’s a sensitive subject. And I mean that literally. When I walk into a smelly home my eyes start to water, my nose goes on overdrive, and a blasting headache begins to form behind one, sometimes both, of my eyes.

I’ve been told that I have a '“super-sniffer”. I once got hit in the face with the smell of cat pee as soon as I opened the door of a condo. My buyers didn’t even notice until I made a casual comment about it, and even then they had to really stop and take it in.

I don’t think my sense of smell is THAT good, but my gauge might be skewed from watching Gus on the show Psych use HIS super-sniffer to fight crime. He gets this ability genetically from his parents. Okay, clearly I’ve watched a little too much of this show, but if you haven’t seen it, then check it out on Amazon Prime, because it’s 8 seasons of AWESOME (you can skip “Psych: The Movie”, but don’t skip “Psych: The Musical”).

Heavy Duty Pre-Fall Portland Real Estate Market Report

Heavy Duty Pre-Fall Portland Real Estate Market Report

Just in time for (almost) autumn, let's take a look at what's really happening in the Portland metro area. This is a big report, so go grab a pumpkin spice latte and let's get to it!

Change makes market reports fun!

We've been suffering (or enjoying, depending on your point of view) from a very low inventory residential real estate market for years. This has been great for home sellers that weren't also looking to buy, but not so great for home buyers, especially first time home buyers. It hasn't been fun for renters, either.

Well, the times they are a-changin'. But, maybe not as much as some headlines might have you believe... Let's take a reasonably deep dive into what's going on.

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South Hillsboro and the Street of Dreams

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South Hillsboro and the Street of Dreams

I was able to find a spare couple of hours to stop by the Street of Dreams on Realtor Day. It was a super comfortable 1258 degrees outside that day...

It just happens to be in Hillsboro this year, and there is a very good reason for that location.

What was once a large 1400 acre tract of farmland (known as the historic Ladd-Reed farm) is now "South Hillsboro", the largest master planned development in Oregon history.

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Dual-agency: Using the Listing Agent to Buy a Home

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Dual-agency: Using the Listing Agent to Buy a Home

Dual-agency.

This is a divisive term in the world of real estate.

Some agents will happily represent both the buyer and the seller on a transaction. Some agents are vehemently against it and believe there is no way to adequately and fairly represent both parties. Other agents will only consider it in non-multiple offer situations. Other agents foam at the mouth and bend over backwards to try to find "double-ended deals". 

As long as it's allowed, I think it will always be up for debate. But, the most important thing that I always keep in mind is: what's best for the client(s)?

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Rent-Back: What It Is and Why Sellers Ask for It

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Rent-Back: What It Is and Why Sellers Ask for It

Otherwise known in the Portland metro market as the "Agreement to Occupy After Closing", rent back is a very common part of real estate transactions. 

What is Rent-back?

If a homeowner would like to sell their home, but needs time after closing to vacate the property, then they ask for rent-back.

After the home has closed and the buyers become the new homeowners, they also become landlords as the previous homeowners become tenants. (Is this confusing yet?)

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Grab Bag Real Estate Blog

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Grab Bag Real Estate Blog

While I probably have about a million things I could write about, I'm suffering from a bit of writer's block, or maybe it's exhaustion, which could really amount to the same thing!

So this blog is going to be more of a string-of-consciousness, here's what I've been seeing lately, kinda article.

It includes a small rant about real estate photography, a shout out to those that can do this job and look amazing in their super business-y attire, and a recommendation for an awesome Dog Rescue!

So this blog is going to be more of a string-of-consciousness, here's what I've been seeing lately, kinda article.

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When Are House Prices in Portland Going to Go Down? - Part 2: Electric Boogaloo

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When Are House Prices in Portland Going to Go Down? - Part 2: Electric Boogaloo

About 10 months ago I wrote my most popular blog article that was all about trying to do the impossible - predict when housing prices would fall.

So, in the interests of self-interest, I figured I'd do a follow up. Hey, if everyone liked the first one, then why not take advant... er, I mean, why not provide even more valuable information to the discerning public?

Cesspools and Septic and Sewers OH MY!

Cesspools and Septic and Sewers OH MY!

A few days ago, while driving to meet a client, I noticed water barreling out of a manhole cover. Soon after, I heard that Portland area residents were issued a warning to avoid the Willamette River due to sewage overflow. Then yesterday I showed clients a property in Milwaukie that is actually on a cesspool. I've sold properties with septic tanks before, but that was a first.

I think this definitely calls for a blog about sewer lines. This isn't typically a fun subject, but let's take the plunge anyway. I promise it won't be a waste of time.

But, you might want to grab a stool, this could take a while. Ooh, I'm so punny!

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What Rising Mortgage Rates Mean for Buyers and Sellers (in the Portland metro)

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What Rising Mortgage Rates Mean for Buyers and Sellers (in the Portland metro)

It's not surprising that interest rates are starting to rise. We just haven't seen significant increases in a while because of a little event that happened around 2008.

But now, since the start of 2018, the average rate for 30-year fixed rate mortgages has climbed 50 basis points (that's 0.5% in finance parlance). It looks like sub 4% rates are a thing of the past. Sub 5% rates might soon be a thing of the past.

If mortgage rates continue to rise, which seems fairly likely, then affordability is going to further erode. And, this is happening during a serious housing shortage all around the Portland area.

What does it all mean for prospective buyers and sellers?