Buyer and Seller reports and videos, 10 Things You Should Never Say to a Real Estate Agent, What is affordable housing in the Portland area, and Portland’s 20 Hottest Neighborhoods for Real Estate. I'll end it with cat cuddles.
Hello! Here's the news from the PNWN! My website is an ever evolving creature. I've recently added a buying/selling guide for Oregon, as well as Portland map information (including crime statistics). http://nesteggre.com/.
This first bit of news is absolutely true. Take everyone to heart. I will say however, if you're thinking about selling your home without representation (For Sale By Owner, or FSBO), please take the time to check out my video "Selling By Owner". And now, the 10 Things You Should Never Say to your Agent!
1. “I want to buy a home, but I don’t want to commit to one agent.”
Loyalty is a two-way street. If you want an agent’s help, understand that he or she will spend a considerable amount of time, money, and effort shuttling you from house to house, scheduling home viewings, and previewing listings on your behalf. The tradeoff for this hard work is to sign a buyer’s agency agreement, allowing them to formally represent you as a client (versus merely a customer). There are major differences between the two. Learn more about agency relationships here.
2. “Don’t show my home unless I’m available.”
Look down. See a hole in your shoe? That’s because you’re shooting yourself in the foot. Real estate agents are busy. Therefore, if you want to maximize your home’s exposure, you’re gonna have to be flexible (i.e., as “hands off” as possible). I get it, though. You cringe at the thought of muddy shoes dragging across your beige carpet (or whatever else your concern may be). You naturally want to be present to keep an eye on things, but try to control that urge. Buyers get uncomfortable with sellers standing over them while they view a home — and that’s if you’re lucky enough to draw the buyer inside in the first place, considering all the hoops created by stipulating that other people’s schedules must align with yours.
3. “But Zillow said…”
Stop listening to Zillow. Relying on Zillow to determine your home’s value is, at best, a crapshoot. Zillow itself even encourages buyers, sellers and homeowners to conduct other research such as “getting a comparative market analysis (CMA) from a real estate agent” and “getting an appraisal from a professional appraiser.” Sure, Zillow’s Zestimates® are quick, easy, and free… but so is dating advice from your thrice-divorced Uncle Larry. The point? Just let a local real estate professional (who will actually see your home’s unique features in person) determine its fair market value.
What is affordable housing in Portland?
Statistically speaking, the Portland area is at an interesting junction of household income and housing inventory. On paper, they are roughly in balance, although that is changing as prices rise.
The median price for a single-family house in Portland is $310,000, according to Trulia, the real estate platform. Others peg it at between $300,000 and $320,000.
The median gross household income in Multnomah County is about $54,000, in Clackamas County about $67,000, in Washington County about $63,000, according to American Community Survey data. In Clark County, it's about $55,000.
By HUD definition, a homeowner is "burdened" if he or she pays more than 30 percent of the household's gross monthly income for housing. By that definition, the maximum monthly housing cost for a median-income Multnomah County homeowner would be about $1,350. For a homeowner in Clackamas County, it's $1,675. For Washington County, $1,575. In Clark County, about $1,375. Housing costs include taxes and insurance.
Portland’s 20 Hottest Neighborhoods for Real Estate
Tuesday, February 03, 2015
Over half of Portland’s hottest real estate neighborhoods are near or east of 82nd Street, according to data pulled from the real estate brokerage Redfin.
Portland’s real estate market for sellers is probably the hottest it has ever been, especially for the east side of the city. Of neighborhoods that sold the most home over the last 90 days, the top five are located in East Portland. Over 80 homes were sold in the Brentwood-Darlington area, the highest of any neighborhood.
Historically low property values have kept home prices in East Portland comparatively cheap compared to other parts of the city. Meanwhile, a shortage of available single family homes makes property on the eastside in high demand.
Low inventory and high prices are driving the real estate market in all of Portland, according to Jan Caplener one of the owners of Portland’s Reality Trust.
“Right now, Portland especially, is the hottest you can have. There are way more sellers than buyers,” Caplener said. “Portland businesses are bringing a lot of people from other states. We are out of building lots for larger parcels and multifamily dwellings.”
Seriously. Welcome to Portland. :)
“It was October 25th, 2013. I saw a video that a girlfriend of mine who lives in Paris sent me on Facebook of Le Café des Chats in Paris,” says Kristen Castillo. “I didn’t even know that cat cafés existed. I was utterly blown away and inspired and pretty much had an epiphany that evening.”And now Kristen and her husband, Sergio Castillo, own Oregon’s first cat café.Purringtons Cat Lounge, located in NE Portland, celebrated its grand opening at the end of January with more than 300 people in attendance. Patrons waited for more than an hour to spend 30 minutes with 9 cats while enjoying coffee and pastries in the living-room-like setting.
To comply with Multnomah County’s Health Department regulations,Purringtons’ space is divided into two areas: a café, where you can purchase food and drinks, and the lounge, where you can spend time with the cats. There is an $8-per-hour cover charge for the lounge.