New Listing - 1700+ sf Single Level Home in Cornelius!

Is Your House “Priced to Sell Immediately”?

In today’s real estate market, more houses are coming to market every day. Eager buyers are searching for their dream homes, so setting the right price for your house is one of the most important things you can do.

According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to slow to 3.6% over the last 12 months. By this time next year, CoreLogic predicts home values will be 5.4% higher.

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little over market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing (see the chart below).Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.

The secret is making sure your house is Priced To Sell Immediately (PTSI). That way, your home will be seen by the most potential buyers. It will sell at a great price before more competition comes to the market.

Bottom Line

If you're debating listing your house for sale, let’s get together to discuss how to price your home appropriately and maximize your exposure.

The Hidden Costs of Home Ownership

Buying a home is a big decision that will impact your life for years to come. Choosing the right house in the right location and the right price point can help you live your best life. But how do you know how much you can afford? There are many hidden costs involved in homeownership that must be taken into account to ensure you’re not overextending your budget.


Insurance
Until you pay off your mortgage, the bank owns part of your home and will require you keep it insured. Even after it’s paid off, insurance is an essential part of protecting your investment. In addition to homeowner’s insurance, you may also need mortgage insurance. This fee is attached to mortgages when less than 20% is put down on the home. Mortgage insurance usually runs around 1% of the value of your loan.

Property Taxes
Property taxes cover expenses for things like public works, schools, police, and fire departments. A lot of mortgages will wrap the cost of your property taxes and insurance into the monthly payment, but this expense won’t usually be included in your initial loan quote. The national property tax average is $6,000 a year, but the exact amount you pay will vary based on location and property.

Maintenance
When you rent your home, all you have to do is reach out to your landlord if something breaks down. When you own your home, you’re responsible for any broken refrigerators, clogged pipes, and anything else that needs upkeep. Even expenses covered by your insurance company will typically involve a deductible. Budget for at least $3,000 a year for maintenance and upkeep on your home.

From RE/MAX September 2019 Newsletter

2019 Pumpkin Patches and Corn Mazes!

It's time to select your perfect pumpkins for holiday decor.  Plan a day to visit one of these local pumpkin patches and enjoy hayrides, corn mazes, fresh produce, and fun activities for all!

Six Tips to Prevent Home Break-ins

Home burglary generally has a pattern; criminals are looking for an easy target they can rob fast. Even though a burglary occurs every 20 seconds in the U.S., you can protect yourself without installing top-dollar security features.

Here are six tips from career burglars you can use to defend your home and prevent break-ins.

1. Daytime is the most popular time for a break-in
Nighttime isn't the best time for burglary.  Burglars like to break in to homes during daytime hours when it is more likely no one is home.  Weekdays are ideal since weekend schedules are too unpredictable.  Between 12:30pm and 2:30pm are the most popular times because there is a higher change people will be away at work or school.  If you can occasionally pop home for a bit of lunch, this breaks up the routine, making it harder for burglars to predict when you'll be away.

2. Don't post about vacations on social media
While you like to share photos/posts on social media 'in the moment' when you're on vacation - don't.  Criminals scout public social media accounts to find victims. More than 10% of burglars indicated in a survey that they used social media to determine who was out of town. Locating someones home address is easy. Never post when you'll be away from home or how long you'll be gone.

3. Use a security system of some kind
Homes without a security system are almost 300% more likely to be targeted for a break-in. Using a security company system with a strong code, or even simple things like motion sensor lights, bright flood lights or timed lights can be effective deterrents. Ensure windows are locked, use your deadbolt, leave a TV or radio on during the day or even have a car parked in the driveway to help scare criminals away.

4. Keep quiet about on-site weapons
If you're a proud gun owner, that won't scare away burglars - it entices them. A gun is stolen roughly every two minutes in the U.S..  Be sure to always lock up any guns at your home. NRA bumper stickers on a car or Smith & Wesson signs on a house advertises that there are lots of guns to steal.

5. Shrubs and Architecture make great hiding spots
Tall bushes are favorites of burglars since they offer an obstructed view from the street. Keep shrubs and large landscaping features trimmed.  Consider any exterior architecture too as possible opportunities for burglars to hide behind.  Decor items such as tall fences, half walls, or big fountains are perfect hiding spots.  The best defense is a clear view of your front porch.

6. Keep expensive items out of sight
A new MacBook by the first floor kitchen window, iPads on the living room coffee table, and a nice car in the garage window with a clear sight line to the street are all eye-candy for a burglar. Put key hooks, family calendars and personal mail or documents out of plain sight from windows - they are inviting a break-in by prowling criminals looking for expensive items or details for identity theft.

Using these tips can help you protect your home from break-ins. Also, be sure to research crime rates and trends in your neighborhood and state.  Below is a graphic using FBI data (from 2015) on break-in activity in various states.  In the Portland metro area, you can find crime data for your local community by going to portlandmaps.com or CrimeReports.com for Washington County.

The Best States for Avoiding Break-ins

Using data collected by the FBI, ASecureLife compiled a summary of the states with the lowest numbers of recorded break-ins per 100,000 inhabitants in 2015.

Article adapted from RISMedia's Housecall '6 Things Professional Burglars Don't Want You to Know"

Ability to Downsize - Successful! Just Sold~

5 Reasons to Sell in Fall 2019

Below are 5 compelling reasons listing your home for sale this fall makes sense.

1. Demand is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase...and are in the market right now. More often than not, in many areas of the country, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There is Less Competition Now

Housing inventory is still under the 6-month supply that is needed for a normal market.  Here in the Portland metro area, the inventory is less than 2 1/2 months supply.  This means that there are not enough homes for sale to satisfy the number of buyers.

Historically, a homeowner would stay an average of six years in his or her home. Since 2011, that number has hovered between nine and ten years. There is a pent-up desire for many homeowners to make a move. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

Many homeowners were reluctant to list their homes over the last couple years, for fear that they would not find a home to move to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don't wait until additional inventory comes to market before you decide to sell.

3. The Process Will be Quicker

Today's competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and simpler, as buyers know exactly what they can afford before shopping for a home. According to Ellie Mae's latest Origination Insights Report, the time needed to close a loan is 43 days.  

In our local market, being pre-approved doesn't necessarily help a buyer to 'stand out' from the crowd.  It is pretty much 'required' for buyers to be pre-approved with a lender prior to submitting an offer in order to get the seller's consideration.  Using a lender who is able to close quicker, perhaps in 21-30 days, would make an attractive term in a buyer's offer.

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up. There is currently ample inventory for sale at higher price ranges.  In the west side Portland metro area there are over 200 luxury homes available. This means if you're planning on selling a starter or trade-up home and moving into your dream home, you'll be able to do that in the luxury or premium market.

On a national level, home prices are projected to appreciate by 5.2% over the next year according to CoreLogic. If you're moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage) if you wait.

5. It's Time to Move on with Your Life

Look at the reason you might decide to sell in the first place and determine whether it is worth waiting. Is it because you want to spend more time being with family? Is it because you want the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.

That is what is truly important.

Tips to Protect Your Yard and Dog

Some dogs are natural diggers, while others may think nothing of hopping over a four foot tall fence. Some may trample your garden, while others are plant shredders, deck chewers, or destructive in other ways. If you don't already know how your pet will react in your yard or garden, do some research into your dog's breed to find out what behaviors they may be predisposed to. Then, take the appropriate precautions.

Plants
A surprising number of popular plants are toxic to dogs. Avoid using daffodils, chrysanthemum, peonies, iris, lily of the valley, begonias, black walnuts, hydrangeas, and mushrooms in areas dogs can access. If your pup is hard on the grass, consider using clover or artificial turf instead of traditional grass.

Materials
Are the mulch and building materials in your yard are pet-safe? If you have a deck, make sure the material doesn’t get too hot or too cold in extreme temperatures. Also consider whether their nails could get caught in the material. If you have bait for killing pests, make sure it’s placed somewhere your pet can’t access.

Fences
Fences serve a two-fold purpose of keeping your pets in and keeping intruders and predators out. Make sure your fence is up to the job. If your dog jumps, consider a privacy fence or a fully enclosed dog run. If you pet digs under fences, you can put flagstone or another border around your fence to keep your dog from tunneling out.

From RE/MAX September 2019 Newsletter

Another Happy Buyer - Just Sold!

Classy Main Level Living in Forest Grove - OPEN Sunday Sept 15, 1-3pm

1155 37th Ave., Forest Grove OR    $549,000

Rare floor plan with large kitchen, opening onto a greatroom and dining area with windows looking out to the open farmland fields. Rich wood floors, slab granite counters and a luxurious master bedroom/bathroom. Easy main level living with only a large bonus room on the upper floor perfect for a playroom/home office. Gracious covered patio, lush, sprinkled lawns, plenty of side yard for gardening plus pastoral views. Extra wide garage!

    

    

2,637 sf   |   3 Bedrooms,  2 Full Baths  |    Built 2010

.16 Acre lot  |   2 car extra wide garage

August 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 August 2019.
Click here for the full report

• Sales:   2,901 in August 2019 vs 2,967 last August:  -2.2 %

• Pending Sales:   2,929 in August 2019 vs 2,760 last August:  6.1%

• New Listings:   3,757 in August 2019 vs 4,214 last August:  -10.8%

• Average Sales Price:   $458,100 in August 2019 vs $454,500 last August:  1.0+%

• Total Market Time: 48 days in August 2019 vs 40 days last August:  19.8%

• Inventory in Months: 2.3 months in August 2019 vs 2.3 months last August

Inventory by Area:

• NW Washington County   2.13 months
• Beaverton/Aloha               1.84 months
• Hillsboro/Forest Grove     1.76 months

What Is the Probability That Home Values Sink?

With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective.

Here is a table showing the predicted levels of appreciation from six major housing sources:As we can see, every source believes home prices will continue to appreciate (albeit at lower levels than we have seen over the last several years). But, not one source is calling for residential real estate values to depreciate.

Additionally, ARCH Mortgage Insurance Company in their current Housing and Mortgage Market Review revealed their latest ARCH Risk Index, which estimates the probability of home prices being lower in two years. There was not one state that even had a moderate probability of home prices lowering. In fact, 34 of the 50 states had a minimal probability.

Bottom Line

Those waiting for prices to fall before purchasing a home should realize that the probability of that happening anytime soon is very low. With mortgage rates already at near historic lows, now may be the time to act.

Access is Key to Getting Your House Sold

So, you've decided to sell your house.  You've hired a real estate professional to help you with the entire process and you've been asked what level of access you want to provide to potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price.  There are many levels of access you can provide to your agent to be able to show your home.

Here are five levels of access you can provide to a buyer, each with a brief description:

• Lockbox on the Door  This allows buyers the ability to see the home as soon as they are aware of the listing, or at their and their agent's convenience.

• Providing a Key to the Home  Although the buyer's agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.

• Open Access with a Phone Call   The seller allows showing with just a text or phone call's notice from the Buyer's agent.

• By Appointment Only  Example: 24-hour notice. Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as a lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 24-hours to see the house.

• Limited Access  Example: the home is only available for a couple of hours a day, or only on a couple of days during the week. This is the most difficult way to be able to show your house to potential buyers.

In a competitive marketplace, access can make or break your ability to get the price your are looking for, or even sell your house at all.

A+ Reasons to Hire a Real Estate Pro

Some Highlights:

• Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most powerful decisions you can make.
• A real estate professional has the experience to help you confidently navigate through the entire process.
• Make sure you work with someone who knows the current market conditions and can simply and effectively explain them to you and your family.

September 2019 Homework Series

If you need help 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.

Fall Selling Season is Here!

As we start into what is typically the second busiest home selling season of the year, let's  take a look at a couple of our local communities to see what the stats are telling us about the market.

The ALTOS Market Report on Thursday, Sept 5th, shows that in the beginning of September we are still in a strong seller's market in both Beaverton and Hillsboro.  Inventory continues to be sufficiently low to keep home prices up.  

With the end of summer vacations, school starting back in session, and mortgage rates continuing to remain low, we could see increased buyer activity for the next couple of months as buyers hope to get into a new home before the holiday season begins.

Beaverton Market

Hillsboro Market

If you are thinking of selling or buying this fall, this is a good time to make a move!