Newsletter May 2017

Posted
Greetings,

Happy Memorial Day weekend! Aren’t we lucky to have such glorious weather….finally!

Our spring real estate market is burning hot! We are in a unique window of time when prices are rising and interest rates are still reasonably low. If you are thinking of buying or selling, call me and I can help you strategize if buying, selling or investing in real estate makes sense for you.

Cricket

Portland Metro Real Estate Market Update

Stats provided by RMLS Home Sales Report April 2017

Across the metro area, April’s average Median Sale Prices had an increase of 11.3% from last April to this April. The median has increased 11.6% from $318,500 to $355,500.

Contact me for more information to better understand today’s market.

Featured Property

Gorgeous mid century home with 180º panoramic views in Hillsdale neighborhood.
2422 SW Seymour Drive, Portland
RMLS 17359300 – Offered at $929,900

Contact me for more information/details on this or other properties.

Portland Neighborhoods by the Numbers 2017
From the east side to the west side, Portland’s real estate market is still riding high. (No surprise.)


Five years ago, Portland’s heat map looked quite a bit cooler. Growth was tepid, concentrated in a small patch southwest of downtown. Our suburbs still reeled from the Great Recession. You could buy a house in Cully for a median $188K. Times have changed. Today, that Cully home goes for $340K—and in a city where values surged 12 percent last year to $380K, that’s a steal. By the numbers, behold Portland’s new hotness.

Welcome to our annual quick reference guide to 122 Portland neighborhoods and suburbs.

the city.

the suburbs.


Source: Portland Monthly

How to get the most money when selling your home

Every homeowner wants to make sure they get the best price when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensuring you get the highest price possible.

1. Price it a LITTLE LOW
This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In reality, this just dramatically lessens the demand for their house (see chart below).

Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.

Realtor.com gives this advice:
“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional
This, too, may seem counterintuitive, as the seller likely believes that he or she will net more money if they don’t have to pay a real estate commission. With that being said, studies have shown that homes typically sell for more money when handled by a real estate professional.

Research posted by the National Association of Realtors revealed that: “The median selling price for all FSBO homes was $185,000 last year. When the buyer knew the seller in FSBO sales, the number sinks to the median selling price of $163,800. However, homes that were sold with the assistance of an agent had a median selling price of $245,000 – nearly $60,000 more for the typical home sale.”

Bottom Line
Price your house at or slightly below the current market value and hire me as your real estate professional. This will guarantee that you maximize the price you get for your house.

Staging Tips that Sell Your Home Fast

Successful staging is key to selling your home quickly and at the best price. From cleaning to styling, these tips can help.

If you are planning to put your house on the market this summer, it goes without saying that you are hoping to sell your home as quickly as possible and get your asking price. Set the stage for success with these 21 tips for styling and upgrading your home, and see results — fast.

  1. Boost curb appeal. This is something you always hear, and with very good reason. Many people thinking of touring your home will do a quick drive-by first, often deciding on the spot if it is even worth a look inside. Make sure your home is ready to lure in onlookers with these tips:

I am here to help you buy and sell your most important investments. If you need more information on staging your home please let me know!

Source: Houzz.com

Thank you and have a great month!

I hope you have found my eNewsletter informative. If you have any real estate questions feel free to contact me.

As always, thank you for your friendship and referrals.

Cricket Forsey