Sellers

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Sellers

Found 48 blog entries about Sellers .

The Headlines

The media is starting to report on a slowing residential real estate market, even suggesting the broadest slowdown in years. What does that mean for buyers and sellers in Portland? What does it mean for you?

The Data on Sales Volume

Total active residential listings in June 2018 increased 12.5% over May (6,054 vs 5,380) and 16.2% over June 2017 (6,054 vs 5,211).

The number of closed sales in June increased 5.1% over May (2,946 vs 2,803) and decreased 6.0% from June 2017 (2,946 vs 3,187).

A Little Perspective

Activity has slowed since the spring. It slowed last year about this time, and the year before that, and the year before that, and... So the better question is whether the slow down is due to typical seasonality or to a

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Overwhelmed by the idea of moving?

Join Portland Home Team real estate broker, Emily Morris, and the Move Makers for a FREE educational seminar that takes the stress out of downsizing your home. The workshop will take place Friday, April 13th from 6pm to 8pm at Pacifica Senior Living Calaroga Terrace 1400 Northeast 2nd Ave.

We do much more than just help families sell their homes, we help through the entire home selling process. Learn about our comprehensive program that helps you with every aspect of your move!

Register to claim your spot at EventBrite.com. See you there!

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Core Logic just released the March 2018 Market Pulse.  There are three interesting articles: two are retrospective looks at 2017, when the average homeowner gained $15K in home equity, and the average rent went up 3%.

The third article explores the impact of mortgage rate increases on affordability.  The core logic analysis tracks the changes in the "typical mortgage payment" for the median-priced house in the US.  They assume a 20% down-payment, a 30 year amortization schedule and ignore property taxes and insurance from their calculation.  This is the most often used metric in the industry to talk about affordability.

The Core Logic consensus estimates almost a 14% increase in the typical mortgage payment during 2018.  The increase of the 

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Each year the National Association of Realtors reports on the cost of common remodeling projects and how much they add to the value of a typical home. The following are the estimates for the Portland area published in 2018.

The cost data comes from HomeTech Information Systems, a remodeling estimating software company, and is adjusted for regional pricing variations.  The added value estimates are based on sampled NAR members’ professional judgment, not actual sales. ©2018 Hanley Wood, LLC. Reproduced by permission. Complete city data from the 2018 Cost vs. Value Report can be downloaded free at www.costvsvalue.com.

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Today Congress completed the passage of The Tax Cuts and Jobs Act, H.R. 1, and the President is expected to sign it into law shortly. Most of its provisions take effect in 2018, and a few take effect now. The following is a summary of the provisions directly affecting real estate:

Rental Property Owners

  • IRC Section 1031 Like-Kind Exchanges will still be allowed for real property transactions.
  • No changes to mortgage interest and property tax deductions.
  • Pass-Through Entities: Last minute (and controversial) addition of real estate partnerships, LLC’s, and S corporations as “pass-through entities” for purposes of sharing the benefits of the corporate rate reductions. Consult a professional if relevant.

Homeowners

Note: Amounts stated

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Are you or someone you know considering selling your home after December 31st, 2017?

Chances are yes, eventually...so no matter what chapter of homeownership you are in, you're going to want to listen up! The City of Portland has issued a mandated Home Energy Score Assessment and Report* to be provided by the sellers of single-family homes and townhomes starting January 1st, 2018 within the Portland jurisdiction. 

What is it? A Home Energy Score (HES) is the measurement of energy efficiency a home has based on an onsite evaluation of the physical characteristics of the house and where it is located on a scale of 1-10. It's similar in concept to the MPG ratings for automobiles.  The score is not determined by current energy usage influenced by

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I wanted to follow up Phil's October 10th blog post declaring our market a "screaming buy" and our 10/13 podcast with Phil's prediction of a 10% market rise in next year's first half with some additional context.

This chart shows data from RMLS statistical reports for the Portland market.  Over the past two years, most of the price appreciation has happened in the first half of each year.  The market has been essentially flat in the back half of each year.  Part of the explanation is that inventory tends to build in the second and third quarter (see boxes in chart above), and get sold off over the back half of the year.

The other part of the explanation is the mix of home sales: larger, family, homes at higher price-points tend to be more

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Wondering which step to take in your buying and selling process? There's a lot to consider, so we've weighed out the options for you: 

Buy the Home You Want Before Selling?

Benefits:  This approach permits you to wait until the right home becomes available.  You will have plenty of time to shop without the pressure of an impending move date.

Risks:  Significant financial risk with this approach.  You could end up owning two homes for a long period of time.  Your loan fees may be higher, especially if a bridge loan is necessary.  Your purchasing power may be limited, restricting your home choices.

Your Best Choice When: it is a seller’s market – you can make the purchase with some confidence that your home will sell quickly.  Also, a good

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There are a lot of factors that will determine how quickly your house is sold, and it’s important to tackle the factors you can control. If you’re still living in your home while trying to sell it, these are a few simple ideas that can help speed up the home sale process.

 1. De-clutter: Buyers want to step into a prospective home and imagine the possibilities. That’s a lot easier to do when a space is airy and clutter-free. Get rid of the clutter that’s just taking up space in your home, and it can totally transform how a buyer sees the property.

 2. Offer an incentive: Don’t break the bank for add-ons that don’t make financial sense in the long run, but there are some reasonable expenses you can use to entice buyers, such as offering a home

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