5 Mistakes Buyers Make when Buying a Home

To avoid these mistakes in your home buying process, be sure to connect with a Realtor who will represent you 100% in the purchase, who can guide you in preparing for buying a home,  and who will be your advocate throughout the search and purchase processes to ensure your best interests are represented.

2019 Furniture and Design Trends

A local home staging consultant, Lisa Shipley with Imagine Home Staging and Design, recently had the opportunity to attend the Furniture Trade Market in Las Vegas to learn about current, up-to-date furniture and design trends for the home.

Similar to suggestions to focus on 'stories' for making compelling social media posts, Lisa commented that  speaker Tom Mirable of the Pantone Color Institute, shared  that consumers are looking for sensory experiences that tell a story.  A story that focuses on aspiration, wellness, happiness, contentment, serenity, sustainability and 'kindfulness'.  

Home furnishings can create this experience by using soft fabrics, rounded and over-stuffed furniture, returning to earthy and feminine colors, and incorporating natural materials such as metals, reclaimed wood and natural textures. 

Some of trends Lisa noticed include:

• Velvet upholstery and natural linen fabrics
• Furnishings with rounded edges and feminine shapes and colors
• Black accents and metal tables
• Shag rugs, faux fur, macrame and over-stuffed furnishings           
• Floral designs or accessories - huge florals!
• Colors will reflect a mix of earth, sea and sky with jewel tones as accents.  Olive green, coral, red & pink peony, and orange & rust combinations will all be making an entrance this year.  
• Greys will still be around but trending toward charcoal or black, or with warmer brown undertones.

Are you ready for a change in your home? Will you follow along with the forecast for more rich browns, rust, corals, sea, sky and earth colors?  As you begin planning for a re-design or update of furnishings in your home, you'll begin to see some of these trends in furniture, paint colors and furnishings on display in local stores.

If you are interested in learning more about Lisa's findings at the Furniture Trade Market, read her blog post 2019 Furniture and Design Trends.  

If you're thinking of selling your home this spring or summer, give me a call and let's arrange a time to meet with Lisa to get you assistance in preparing your home for the market! 

Lisa Shipley at Imagine Home Staging and Design, 503-643-0282.

7 Things to Consider When Choosing Your Home To Retire In

As more and more baby boomers enter retirement age, the question of whether they should sell their homes and move has become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.

1. AFFORDABILITY  It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.

Would moving to a complex with homeowner association fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?

2. EQUITY  If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.

The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $9,700 in equity last year.

3. MAINTENANCE  As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.

As mentioned earlier, would a condo with an HOA fee be worth the added peace of mind of not having to do the maintenance work yourself?

4. SECURITY  Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.

As scary as that thought may be, any additional security is helpful. An extra set of eyes looking out for you always adds to peace of mind.

5. PETS  Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.

Consider all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or in a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?

6. MOBILITY  No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.

Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Installing handrails and making sure your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.

7. CONVENIENCE  Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!

How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.

BOTTOM LINE

When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home!

Eight Steps to Ensure a Smooth Home Inspection

A home inspector I work with recently shared some tips that would help the inspector do the best job possible during the home inspection.  Once your home is under contract, the last thing you want is a delay in getting to the closing table.  Here are some ways you can ensure the home inspection goes smoothly.

1. Give Them Gas.  The inspector needs the gas (including pilot lights), electric and water supplies on.  Many inspectors won't light a pilot light to the water heater or gas fireplace if it is not on during the inspection, requiring them to make a second trip to the house once the pilot light is active.  Without electricity or water, the home inspector is not able to test electrical outlet, furnaces, plumbing fixtures for leaks etc.  Buyer will want these to be inspected, so make sure all the utilities are turned on and in working order prior to the scheduled home inspection.

2. Fur, Tails and Scales.  Whether we're talking about a Chihuahua or a 10-foot Boa, the inspector doesn't want to deal with pets.  Warn the inspector about any pets prior to arrival to avoid surprises.    Avoid putting dogs or cats to run loose in the backyard as the inspector needs to evaluate the siding, foundation, windows and more on the exterior of the home and won't be able to keep an eye out for any escaping pets. The best bet is to take the pet away from the home or secure them is a kennel or cage during the inspection.

3. Light It Up.   Take the time to check all the lights.  Something as simple as a burned out bulb can result in the inspector questioning if the light fixture is operable and including it on the inspection report.

4.  Running on Empty.  Something homeowners don't think of until it is needed, is ensuring the batteries in the thermostat are good.  If the batteries are low or dead, the inspector may not be able to test the HVAC system.  Check the batteries in the smoke detectors and carbon monoxide detectors too as they will also be tested during the inspection.  When in doubt, always replace the battery.

5. Dirty Dozen.  Locate all the HVAC filters and make sure they are clean.  It is recommended that the furnace filters be changed every 3-6 months.  If it's been awhile since they have been replaced, install new filters prior to the inspection.

6. Ants in the Plants.  Two words: conducive conditions.  If there are trees, plants, a wood pile or other debris up against the home, now is the time to trim them back or remove them.  It is recommended that any foliage be trimmed away from the home by at least 6 inches.  Inspectors must report these areas because they can attract termites, ants, wood boring beetles and other wood destroying organisms.

7. Locked and Loaded.  Ensure all areas needing to be accessed by the inspector are either open and accessible or provide a key for easy access.  Some homeowners have rooms that they lock when away from the home for safe keeping of personal items, some times the attic access or crawl space access are locked. Ensure the inspector has easy access to all spaces needing to be viewed.  Easy access also means moving any boxes or storage items out of the way.  Many inspectors won't move old furniture, lawn tools, bikes, shoes, boxes, etc. to be able to get to the crawl space hatch, attic access or backyard garages.

8. Repair or Replace.  Hopefully, many of the minor repairs needed around the home were done prior to putting the home up for sale, but if not, now is the time to do them. If the homeowner can safely and confidently repair things that are currently broken (windows, doors, cabinets, knobs, faucets, light fixtures, etc.), do it now.  If not, reach out to a professional handyman or contractor to get the to-do list taken care of prior to the home inspection.

A little proactive effort on the part of the homeowner can help the home inspection go smoothly and keep the sale of the home moving forward.

Edited from Lee Sellick, Home Inspections NW email

Asbestos: What You Need to Know!

Many of us love the characteristics of older homes and choose to update them as we continue to live in the home.  Or, perhaps we have rental properties that may be of an older vintage that need to be updated at times to make them livable for future tenants.

One of the factors property owners need to be aware of when modifying older homes is the presence of asbestos.  Homes constructed prior to 2004 may contain asbestos, which is a natural occurring mineral that was used in many construction materials.  Properly handling asbestos protects public health. When asbestos is disturbed, tiny fibers are released into the air and may cause lung cancer and other illnesses.  There is no known safe level of exposure.  While the use of asbestos in building materials has decreased over the years, it may still exist in the older homes.

Oregon adopted new requirements in fall 2018 for handling asbestos.  The Oregon department of Environmental Quality requires property owners and contractors to identify asbestos and to properly handle, package and dispose of asbestos waste from demolition and renovation projects. A new requirement that is especially applicable to the real esate industry is the new Residential Renovation Survey Requirement.

There are three main changes to Oregon's Asbestos requirements:

1. Residential renovation asbestos survey: All houses and other residential buildings constructed prior to 2004 must now have an asbestos survey conducted by an accredited inspector prior to demolition and renovation activities, with one main exception for owner-occupants doing their own renovation work. This expands an existing asbestos survey requirement for residential demolitions and for commercial demolitions and renovations.

2.  Updated disposal requirements for nonfriable waste: Nonfriable asbestos waste must now be packaged the same as friable asbestos waste. Friable materials are those that can be easily crumbled and release asbestos fibers. Applying the same packaging standard for nonfriable and friable materials streamlines the packaging requirements for all asbestos waste and ensures a safer work environment for employees, residents, neighbors and disposal facility workers.

3.  Accredited laboratories for asbestos testing: Starting January 1, 2021, the bulk asbestos samples collected during the asbestos surveying must be analyzed by a laboratory that participates in a nationally recognized accreditation or testing program. This new requirement establishes a common level of competency and reliability in analysis to properly identify asbestos content. DEQ will maintain a public list of accredited laboratories on its website.

If you are thinking about hiring contractors to renovate your current home or a rental property, that was built prior to 2004, you'll want to be aware of the new requirements regarding testing for, and eliminating, asbestos from the property.  More information can be found at Department of Environmental Quality Asbestos Information web page.

March 2019 Real Estate Market Statistics

(For the past few years, I've used my photographs for the headline photos on the monthly market updates, using local area scenes in 2017 and roof tops of homes sold in 2018.  This year I'm featuring public art that can be found in our local communities.)

The following is the latest Real Estate Market Statistics for March 2019.
Click here for the full report

• Sales:   2,183 in March 2019 vs 2,371 last March:  -7.9 %

• Pending Sales:   2,738 in March 2019 vs 2.894 last March:  -5.4%

• New Listings:   3,504 in March 2019 vs 3,648 last March:  -3.9%

• Average Sales Price:   $452,700 in March 2019 vs $434,800 last March:  4.1%

• Total Market Time: 68 days in March 2019 vs 55 days last March:  22.2%

• Inventory in Months: 2.2 months in March 2019 vs 1.6 months last March

Inventory by Area:

• NW Washington County   2.01 months
• Beaverton/Aloha               1.14months
• Hillsboro/Forest Grove     1.55 months

The Home of Tomorrow

The future is now for homeowners, as more and more people are looking to smart devices to improve their everyday living.  From thermostats, to fire and carbon monoxide detectors, technology and automation is getting more sophisticated.  What's the current state of smart technology, and where is it going?  Here are a few new devices that can make your home a touch smarter.

LAUNDRY FOLDING ROBOT - The Laundroid from Seven Dreamers uses AI to sort and fold your clothes.  Place your clothes into a drawer at the bottom of the machine, and watch as it folds your wardrobe, along with being able to separate clothes for each family member.

SMART REFRIGERATOR - LG's InstaView ThinQ has a touchscreen on the front of the fridge that keeps track of what food or drink you put in and take out. When you're running low on a certain item, it even reminds you that it's time to restock.

INTERACTIVE MIRROR - Kohler's Vedra Voice Lighted Mirror has a built-in version of Amazon's Alexa voice assistant, so you can access important information while getting ready in the morning or preparing to go to bed.

INTELLIGENT SECURITY LIGHT - A floodlight with a two-way speaker and motion activated camera, Maximus is perfect for monitoring activity outside of your house. It detects movement up to 70 feet away and relays a message to your smart phone for instant alerts about potential visitors or trespassers.

SMART PLUMBING - Flo is a smart plumbing monitoring system that can tell a homeowner not only about leaks, but also water pressure, temperature and flow rate.

While I have seen the smart doorbells, Alexa, Nest thermostats, smart refrigerators and security cameras in homes, I have not yet seen some of the other smart devices mentioned above.  It will be interesting to see how fast they become 'standard' in homes - if ever.

Courtesy of The Residential Specialist Magazine Mar-Apr 2019

April 2019 Homework Series

For months we've been looking out the window waiting for spring.... and it's finally here!

Every spring, your home needs some extra TLC. Doing this regular maintenance will help ensure your home functions well for the rest of the year.  So..... it's time to get out of the house and take care of some of the outdoor maintenance items to fully enjoy your home and yard this season.  

Here are 9 maintenance items to check off your list-

1.  GUTTERS - pull leaves and debris out of the gutters, run a hose on the roof and check if there are any leaks that need to be fixed.

2.  SIDING - power wash vinyl siding to prevent mold from forming. If you have wood siding, there may be areas that need a paint touch-up.

3.  WINDOWS & DOOR SCREENS - check screens for holes and replace them if necessary. Clean windows inside and out! Enjoy the view to the outside!

4.  HOT WATER HEATER - lubricate the circulating pump and motor. If you are not familiar with these parts, you may want to call in a professional for maintenance.

5.  ROOF - inspect the roof for any missing, loose or damaged shingles that need to be replaced.

6.  DECK OR PORCH - check the deck or porch to see if they need to be weather treated or re-stained. check railings for sturdiness and adjust them if needed.

7.  SPRINKLER SYSTEM - replace or fix any valves that are leaking or not working!

8.  LANDSCAPING - whether you do it yourself or call in a pro, make sure to trim any overgrown plants and remove weeds. Don't forget to add a pop of color with seasonal flowers!

9.  FOUNDATION - check floors, concrete and walls for any cracking or deterioration. If needed, call a foundation professional who can help.

If you need hlep finding professionals who can assist you with this checklist, I can provide you with a list of preferred contractors and vendors!  Just give me a call at 503-956-3505.

3 Graphs that Show What You Need to Know About Today's Real Estate Market

The Housing Market has been a hot-topic in the news lately. Depending on which media outlet you watch, it can start to be a bit confusing to understand what’s really going on with interest rates and home prices!

The best way to show what’s really going on in today’s real estate market is to go straight to the data! We put together the following three graphs along with a quote from Chief Economists that have their finger on the pulse of what each graph illustrates.

Interest Rates:

“The real estate market is thawing in response to the sustained decline in mortgage rates and rebound in consumer confidence – two of the most important drivers of home sales. Rising sales demand coupled with more inventory than previous spring seasons suggests that the housing market is in the early stages of regaining momentum.” – Sam Khater, Chief Economist at Freddie Mac

 Income:

“A powerful combination of lower mortgage rates, more inventory, rising income and higher consumer confidence is driving the sales rebound.” – Lawrence Yun, Chief Economist at NAR

 Home Prices:

“Price growth has been too strong for several years, fueled in part by abnormally low interest rates. A mild deceleration in home sales and Home Price Index growth is actually healthy, because it will calm excessive price growth — which has pushed many markets, particularly in the West, into overvalued territory.” – Ralph DeFranco, Global Chief Economist at Arch Capital Services Inc.

 

Bottom Line

These three graphs indicate good news for the spring housing market! Interest rates are low, income is rising, and home prices have experienced mild deceleration over the last 9 months. If you are considering buying a home or selling your house, let’s get together to chat about our market!

Millennial Mythbuster - Homeownership is Not Out of the Question

Some Millennials still believe they will never be abel to afford a down payment.  This isn't true!

Let's get together to talk about homeownership - it isn't as much of a stretch as you may think!

Looking to Upgrade Your Current Home? Now's the Time to Move-Up!

In every area of the country, homes that are priced at the top 25% of the price range for that area are considered to be Premium Homes. In today’s real estate market there are deals to be had at the higher end! This is great news for homeowners who want to upgrade from their current house and move-up to a premium home.

Much of the demand for housing over the past couple years has come from first-time buyers looking for their starter home, which means that many of the more expensive homes that have been listed for sale have not seen as much interest.

This mismatch in demand and inventory has created a Buyer’s Market in the luxury and premium home markets according to the ILHM’s latest Luxury Report. For the purpose of the report, a luxury home is defined as one that costs $1 million or more.

“A Buyer’s Market indicates that buyers have greater control over the price point. This market type is demonstrated by a substantial number of homes on the market and few sales, suggesting demand for residential properties is slow for that market and/or price point."

The authors of the report were quick to point out that the current conditions at the higher end of the market are no cause for concern,

“While luxury homes may take longer to sell than in previous years, the slower pace, increased inventory levels and larger differences between list and sold prices, represent a normalization of the market, not a downturn.”

Luxury can mean different things to different people. It could mean a secluded home with a ton of property for privacy to one person, or a penthouse in the center of it all for someone else. Knowing what characteristics you are looking for in a premium home and what luxury means to you will help your agent find your dream home.

Bottom Line

If you are debating upgrading your current house to a premium or luxury home, now is the time!