We hope you are doing a better job at sticking to your New Year’s Resolutions than we are! Since we aren’t good at giving up sweets or hitting the gym, we prefer to use the new year to reflect upon what we are grateful for… you!
Did You Know?
We donate a portion of each commission to a local non-profit organization. This newsletter, we’re proud to highlight the Windermere Foundation. In future newsletters, we’ll tell you a little bit about the other organizations we support!
The Windermere Foundation is a non-profit organization established in 1989 that has raised over $35 million. Each year, contributions from Windermere agents, combined with donations from Windermere employees and community members, have allowed the Windermere Foundation to support non-profit agencies dedicated to helping low-income and homeless families in our community. We are incredibly grateful to everyone who donates to the Windermere Foundation, and we feel privileged to be able to give back to the communities where we live and work.
Additionally there are several Windermere Foundation fundraisers, events and drives that we enjoy participating in throughout the year to support our community such as silent auctions, food & clothes drives, and golf tournaments.
To learn more or donate visit the Windermere Foundation website.
from Kathy MacNaughton
Don’t Panic (Yet)
Yes, the Real Estate news for the last quarter in Portland, as well as for most of the country, showed both a slowing in appreciation rates and increased market times for homes on the market. Some of this is completely seasonal but over the last two months of 2018 interest rates climbed to just over 5% and buyers definitely pressed their brakes.
The good news is that the mortgage rate gods quickly lowered their rates back to approximately 4.7% and the millennials have jumped into Portland’s market with a roar to take advantage of those rates. In addition, move-up buyers have also started looking at homes and making offers. So in spite of the news you are hearing real estate wise, this perked up demand with continuing low inventory is starting to cause some pretty good sales activity. With this said, the inventory in the $1.2 million and up market continues to be higher than demand. As a result, this category of property has not shown any noticeable appreciation in over two years.
If your home or condo has a market value of under $1.2 million and you are thinking about selling, my advice is to list now. I know now is a great time to sell while demand remains strong and inventory is low. The question is, will the real estate market soften again as it did in 2018 during the second half of the year? Due to the economic concerns nationally and globally it is not possible for me to predict if the real estate market in Portland will continue to remain vibrant or if we will see a similar scenario in the latter half of this year as occurred in 2018. The one piece of reassuring news I think you can count on is that residential interest rates for conventional and jumbo financing will remain below 5% for the rest of the year.
Click Here for a link to an article that I found to be very informative about the current state of the national housing market and how it would stand up to a recession, if one were to occur.
Below are two tables showing the end of year stats for the Greater Portland Metro Area and Clackamas County compared to 2017.
WHAT DO OUR SUCCESSFUL SELLERS DO?
Are you or someone you know thinking about selling your home? Here are our 3 “D’s” to making the process as smooth as possible.
We know selling your home is highly personal as it’s the place you’ve made your own over the years; however, the process can be easier if you are able to step back and see your house from a potential buyer’s perspective and understand why some items need to be moved or tucked away or why some repairs are necessary. You may be used to living with all of the charming “quirks” of your home but buyers are not.
Trust us, we know that you can accumulate a lot over the years and we are just as guilty of this as you are. While every item in your home has sentimental value to you and your family, a potential buyer does not see that. They only see “clutter”. Your home will show best online and in person, if you are able to take a minimalist approach to your interior design. Less is more when it comes to attracting potential buyers!
Plus, your children and grandchildren will thank you later for starting the de-cluttering process now. Younger generations no longer want all of their parents china, antique furniture and other treasured possessions. Here is an article entitled “Boomer parents: ‘One day, this will all be yours.’ Grown children: ‘Noooo!’” which puts a light-hearted spin on a subject that can be difficult between parents and children.
Everyone adds their personal touch to their home and wants to express themselves through their paint color selections, finishes, furnishings, etc. but to attract the most potential buyers, it is better to depersonalize your spaces. This may mean changing your colorful walls to a more neutral color or working with professional stagers to bring in furniture or rearrange your existing furniture to create a broader appeal. Buyers want to be able to imagine putting their stamp on your home and have a hard time seeing past paint color or design choices that have a lot of personality.
Does all of this make you anxious? Ask for help or get inspiration! If you are looking for inspiration or don’t know where to start, we’ve been enjoying “Tidying Up with Marie Kondo” on Netflix with her organizing method called the KonMari Method which centers around keeping only things that “spark joy” for you. If you need help, don’t hesitate to call us. We know people that can help you.
Of course, every home and situation is unique which is where we come in with our preferred vendors to determine what changes, if any, will be the most important to address to maximize your sale price and minimize your days on market while working within your needs.
If you are interested in market trends and statistics, you may enjoy signing up for Neighborhood News. This is a useful tool to monitor current market activity and trends in your area of interest. Once you subscribe, you will be emailed a monthly report with statistics for the zip code you selected including active listings, sold listings, pending listings, time on market, and price trends.
To sign up, please click here and follow the instructions to subscribe.
Rest assured that you will not receive any spam emails from this subscription. You will receive your initial welcome email and subsequent monthly report.
Below is an example of the report that you receive. It shows a map of active and sold listings for the past 30, 60, or 90 days in your zip code of choice as well as trend graphs and charts for active, pending and sold listings.
SEASONAL ACTIVITIES IN PORTLAND
Whether you thrive in the cold or are looking for a warm retreat, we have a couple of recommendations for you. We hope you enjoy these activities as much as we do!
Enjoy over 600,000 LED lights, laser light shows, black lights, colored lights, rocking music and more! It will be the most fun you’ve had all weekend. Don’t bother walking up the hill with that big tube, just jump on Mt. Hood’s only dual conveyor lifts dedicated to tubing. Open Fridays and Saturdays ONLY through March 22nd.
Escape the cold at Knot Springs in The Yard building overlooking the Burnside Bridge. Schedule a massage or a drop-in fitness class to enjoy access to their soaking pools, sauna and steam rooms. There is even a drop-in soak only option!
Russian Tea at the Heathman
Still need to warm-up? Why not visit the Heathman Hotel for a traditional Russian tea experience. The menu is by Chef Vitaly Paley and Pastry Chef Tim Eckard. Don’t forget to call to make a reservation ahead of time as Russian Tea is only served on Saturdays at noon and 2:30pm.
The annual Polar Plunge benefiting Special Olympics Oregon is fun for the whole family to enjoy. Either join in or watch the brave participants dress up in costumes and jump into the Columbia river on February 23rd.
SOME OF OUR RECENT SALES
7114 N OMAHA AVENUE
PORTLAND, OR 97217
4 beds | 2.1 baths
2,262 sq. ft.
1920 SW RIVER DRIVE #307
PORTLAND, OR 97201
1 bed | 1 bath
801 sq. ft.
6096 SW HARRINGTON AVENUE
LAKE OSWEGO, OR 97035
3 beds | 2 baths
2,833 sq. ft.
7049 N GREENWICH AVENUE
PORTLAND, OR 97217
3 beds | 2.1 baths
1,692 sq. ft.
We’d be so glad to talk to you or your friends about our Concierge Real Estate Services and how we can make a difference with any of your upcoming real estate needs.