The upheaval in global financial markets over the past few years may have been unnerving for almost everyone, but among the hardest-hit group was first time home buyers, in Portland and across the country. Many had to deal with the stress caused by an uncertain economy, the fallout on business and job security, and, more directly, a pronounced increase in the difficulty of securing mortgages.

The good news for Portland first time home buyers is how the national situation has stabilized. It’s confirmed by the increase in the number of people interested in buying a home for the first time—which has climbed out of the slump. The latest NAR (National Association of Realtors^®) annual Profile—a yearly report describing home buyers and sellers—shows that new entrants into the residential market accounted for 39%, just 1% shy of the pre-crash mark.

If you’re selling a Portland area home this summer and have priced it attractively, it could pay to be mindful of this important segment of our market.

So just who are Portland first time home buyers? That’s where the NAR report gives us some important […]

Many people assume that when the kids leave home, their newly empty nest automatically signals that downsizing into a smaller house or condo is the next step. In truth, for such families living in Portland, downsizing is a common option—one that could very well be the best choice.

But, as the old Gershwin tune says, “it ain’t necessarily so…”

For many of us, once we establish a firm direction in life, a lot of decisions are more or less made without much hesitation. Career, family, and even community needs head us in certain directions, so a lot of choices are obvious. But every once in a while the paths open up, and it’s time to take a breath, clear the head, and realize that there may be a lot more freedom to change course than we are used to. When the downsizing idea bobs to the surface, it’s likely to signal such a turning point. That’s when it’s your true interests and passions should govern your next step—especially with respect to your residential options, which will shape much of what happens next. If […]

I’ve written about the professionals who are on call to help anyone who sets about selling their house—but there is another team of pros who can be called on when it comes to buying a Portland home. Buying a home in Portland is not quite like any other purchase—even those with high dollar amounts. Buying a new Audi or Dodge Viper, for instance, can run you well over $100,000, but you don’t need much more than a fat savings account and willing car salesman to complete the deal.

Buying a home is just different; you need to be able to count on the help of a number of professionals from a number of different fields of expertise. Before you are handed the front door key, you’ll need to secure the necessary funds, acquire the property in a legally-bulletproof manner, and diligently investigate various aspects of the home’s plant and history—all the while protecting you against any kind of fraudulent representation. Here are four of the professionals whose assistance will greatly facilitate the process.

The most basic requirement for buying a Portland home is […]

When promising investment properties, in Portland or anywhere, are well-promoted, you can count on them drawing a crowd. Why wouldn’t they? Investment properties that perform well are like money machines: put in a quarter, get back a quarter and a nickel (and another nickel, and another, and another…). What’s not to like?

But not all Portland investment properties are well-promoted. There can be any number of reasons why, but the bottom line is that some of the best ones are hard to sniff out. In that case, they may take a “Bird Dog” to discover.

A word about the term. Ask any hunter (or even any regular viewer of Duck Dynasty—and there are a lot of those!) about the value of a good bird dog, and you’ll get an earful. Those canine sleuths use their highly-evolved senses to locate and retrieve the quarry—even when it is all but invisible to their human companions. Without a good bird dog, hunters would be the ones thrashing through swamp and forest to find supper. Not a pretty picture (and one that could often end in McDonalds’ […]

For owners who are contemplating some major upgrades with an eye to eventually selling a home in Portland, there’s always the question of where to do the upgrading. Last year, the National Association of Home Builders weighed in with a study of what today’s home buyer “really want”—which supplies some guidance that may be helpful.

Although the findings aren’t directly applicable for every home, the concepts that were cited as most popular can be informative, particularly to creative-minded homeowners ready to take a fresh look at how they might add allure and value to their property.

While the kitchen remains the top location for upgrades, there are several other valuable options for adding appeal in other areas of your home.

“Drop Zone”

A Drop Zone is designer-speak for any area that conveniently serves as a catch-all utility area. As such, it can be just about the most cost-effective upgrade for owners selling a home because many prospective buyers recognize their value. Such spaces can be customized for use as laundry rooms, mudrooms, or areas where children can store backpacks and coats.

Open Plan Family Area & […]

Last year comprised a decision point for many a local investor who had been holding back from the Portland real estate market. There’d been a number of good reasons for them to hesitate.

First, there were memories of the pervasive price drops that followed the global financial meltdown. Not exactly what a prudent investor was looking for—even given the real estate’s traditionally invincible long-term record. Then there were fears that the economy’s slow reverse out of the Great Recession (a term that was in itself enough to freeze many a checkbook!) would hamper apartment and single family unit rental increases. A landlord could get squeezed by inflation…if there were any inflation…who could know for sure?

But as 2013 began, some positives that were at last beginning to provide a degree of optimism. Last year’s Portland real estate investment decision was looking a little less risky when the historically low mortgage loan rates were taken into account. They penciled out to what looked like a potentially rosy cash flow outlook. And even the more hesitant investors had been noticing for a while how institutions […]

This summer, success in selling a home in Portland will depend upon the same factors as always: location; quality; buyer appeal.

A home’s location—short of calling in the house movers—is pretty much what it is. The structural quality of workmanship and the level of maintenance that it’s received though the years can be gussied up where it shows (and should be!), but that, too, is largely a done deal.

Which leaves that other factor in selling a Portland area home—the little things that reach out to appeal to buyers. The difference between receiving a swift offer and not can hinge on what makes your home more desirable than others in its price range.

A good example is with closet space. Any property with a closet organization system will carry great appeal to a large number of prospective buyers. Likewise, advanced technological touches can stick in buyers’ memories at the end of a long day of house tours. They don’t even have to be expensive or whole-house systems: a simple programmable thermostat that can be accessed on a smart phone can be an interesting selling […]

When you determine to sell your house, one of the first choices that comes up is tactical: do you try to sell it yourself as a Portland “For Sale by Owner” property—or do you enlist a real estate agent? Since your object is to maximize your profit, you might think that most thrift-minded home owners would decide to eliminate the agent’s commission and do the work themselves. But that’s not the case.

The majority of sellers ultimately team up with a Portland real estate agent. Sometimes they go the For Sale by Owner route first, but after testing that method, change courses. The statistics show that the selling price of Realtor^®-assisted home sales is higher (a $40,000 difference, according to the latest study) which certainly would explain part of the reason. But other factors come into play, too:

1. Pricing:   If you aren’t immersed in the Portland area’s real estate business five to seven days a week, there’s no way you can have the intimate knowledge about the current market that comes with daily work in the field. A real estate agent comes armed […]
   

Wasn’t it just yesterday that we seemed locked into a classic home buyer’s market in Portland? Bad economy, bad job numbers, tanked real estate values were all we heard about…until it eventually shifted. Over the past year or so, it’s become a very different landscape. If you’ve been out looking to become a Portland home buyer, it’s possible that you’ve found yourself putting in offers on multiple houses…and also possibly watching from the sidelines as another Portland home buyer walked away with a deal. If this isn’t a true seller’s market, to you the difference may not be apparent.

In any case, when a prospective home buyer in Portland finds themselves vying for one of the plum homes that are now appearing in this summer’s Portland listings, there’s no need to passively watch as others get the nod. If you are sure of the value of the property you are going for, there are straightforward tactics for improving your chances of winning the day:

–          Offering at or above list price is the time-tested way to give you the best shot of getting […]

If you’re thinking of selling your home in Portland this summer, you’ll want to fetch top dollar for your efforts. Preparing the property is a given, of course, but savvy home sellers often share another kind of preparation. They prepare themselves by adopting the attitude shared by legions of successful salespeople—they assume that success is inevitable. They think and act positively.

The essence of the kind of positive attitude that will make selling your Portland home a pleasure can be boiled down to the simple assumption that it really is going to sell—and sooner rather than later! When you proceed from that assumption, it follows that your buyer’s home inspection will soon be at hand. Since that’s a lead pipe cinch, get ahead of the game by making all repairs that a keen-eyed inspector will report. It means fixing problems that range from misbehaving light switches all the way to seriously outdated furnaces.

The more items that a home inspector finds, the more bargaining leverage it puts in the hands of the buyer. You can perform your own DIY inspection, or even better, […]